So-Young International Inc. (SY)
As-reported financials and SEC filings for So-Young International Inc. The latest annual period is FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.
About So-Young International Inc.
So-Young International Inc. operates a consumer-focused platform that provides access to non-surgical medical aesthetic treatments. The company offers an online platform for aesthetic treatment information and reservations, a network of branded aesthetic centers for in-person treatments, and develops and distributes non-surgical medical aesthetic products. So-Young serves consumers seeking affordable, high-quality aesthetic care through a combination of digital tools and offline services in China.
Snapshot
Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.
What changed at So-Young International
- Revenue grew 8.4% to $218M in FY2025, after a 4.8% decline the year before.
- Operating margin is -18.8% in FY2025, -16.9 pp against -1.9% in FY2021.
- Free cash flow was negative $43M in FY2025.
- Net loss narrowed to $35M in FY2025, from $81M in FY2024.
Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.
Peer comparison
Where So-Young International’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).
So-Young International’s FCF margin of -19.8% ranks in the 8th percentile of the 285 software companies reporting it.
No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →
Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.
Institutional ownership
Held by 2 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.
| Investor | As of | Position value | Shares | Change |
|---|---|---|---|---|
| Citadel Advisorsquant | Q2 2026 | $63,263 | 42.7K | New |
| Two Sigma Investmentsquant | Q2 2026 | $24,864 | 16.8K | Added |
No longer held by: Renaissance Technologies (as of Q2 2026)
From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.
Short interest
Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 2026-08-14 | 1.9M | -1.6% | 14.10 |
| 2026-07-31 | 1.9M | +8.1% | 7.50 |
| 2026-07-15 | 1.8M | 0.0% | 6.56 |
| 2026-06-30 | 1.8M | -4.1% | 3.14 |
| 2026-06-15 | 1.9M | -13.3% | 2.96 |
| 2026-05-29 | 2.2M | +21.6% | 1.67 |
| 2026-05-15 | 1.8M | -8.9% | 4.14 |
| 2026-04-30 | 2.0M | -7.8% | 6.14 |
Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.
Income statement (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $217.8M | $200.9M | $211.0M | $182.4M | $265.6M |
| Gross profit | $104.1M | $123.2M | $134.3M | $125.4M | $214.1M |
| Operating income | $-40.9M | $-85.6M | $-8.6M | $-14.9M | $-5.1M |
| Net income | $-34.6M | $-80.8M | $3.0M | $-9.5M | $-1.3M |
| Diluted EPS | — | — | — | — | — |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Balance sheet (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash and equivalents | $59.8M | $80.5M | $60.0M | $100.7M | $209.0M |
| Current assets | $212.3M | $236.2M | $242.5M | $277.9M | $318.1M |
| Total assets | $378.9M | $374.7M | $452.8M | $463.6M | $522.6M |
| Current liabilities | $112.1M | $86.3M | $76.1M | $78.0M | $111.8M |
| Long-term debt | — | — | — | — | — |
| Total liabilities | $140.3M | $106.4M | $92.0M | $85.5M | $127.6M |
| Total equity | $238.6M | $268.3M | $360.8M | $378.1M | $395.0M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Cash flow (as reported)
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Operating cash flow | $-15.1M | $-3.5M | $3.2M | $-16.4M | $13.2M |
| Capital expenditure | $28.1M | $8.6M | $7.2M | $2.3M | $7.1M |
| Free cash flow | $-43.2M | $-12.1M | $-4.0M | $-18.6M | $6.2M |
Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.
Company facts
Selected SEC filings
Largest software peers
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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.