6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2019

Commission File Number: 001-38878

So-Young International Inc.

Block E, Ronsin Technology Center

No. 34 Chuangyuan Road

Chaoyang District, Beijing, 100012

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F    x          Form 40-F    o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

So-Young International Inc.
By	:	/s/ Min Yu
Name	:	Min Yu
Title	:	Chief Financial Officer

Date: December 5, 2019

2

Exhibit Index

Exhibit 99.1—Press Release

Exhibit 99.2—Press Release

3

EX-99.1

Exhibit 99.1

So-Young Reports Third Quarter 2019 Unaudited Financial Results

BEIJING, Dec. 05, 2019 (GLOBE NEWSWIRE) — So-Young International Inc. (Nasdaq: SY) (“So-Young” or the “Company”), the most popular online destination for discovering, evaluating and reserving medical aesthetic services in China, today announced its unaudited financial results for the third quarter ended September 30, 2019.

Third Quarter 2019 Financial Highlights

·Total revenues were RMB302.4 million (US$42.3 million1), an 79.6% increase from the same period of 2018 and exceeding the high-end of the Company’s guidance range.

·Gross margin was 82.2%, compared with 85.7% in the same period of 2018.

·Income from operations was RMB20.0 million (US$2.8 million), compared with a loss from operation of RMB 22.1 million in the same period of 2018.

·Net income was RMB31.6 million (US$4.4 million), compared with a net loss of RMB25.2 million in the same period of 2018.

·Non-GAAP net income2 was RMB40.5 million (US$5.7 million), compared with a non-GAAP net loss of RMB9.3 million in the same period of 2018.

·Basic and diluted earnings per American Depositary Shares (“ADSs”) attributable to ordinary shareholders were RMB0.31 (US$0.04) and RMB0.29 (US$0.04), respectively. Thirteen ADSs represent ten Class A ordinary shares.

Third Quarter 2019 Operational Highlights

·Average mobile MAUs were 3.42 million, an increase of 143.8% from 1.40 million in the third quarter of 2018.

·Total number of purchasing users were 172,500, an increase of 60.2% from 107,700 in the third quarter of 2018.

·Number of paying medical service providers on So-Young’s platform were 3,230, an increase of 33.6% from 2,418 in the third quarter of 2018.

·Number of medical service providers subscribing to information services on So-Young’s platform were 2,104, an increase of 51.5% from 1,389 in the third quarter of 2018.

·Aggregate value of medical aesthetic treatment transactions facilitated by So-Young’s platform was RMB976.2 million, an increase of 74.7% from RMB558.6 million in the third quarter of 2018.

1  This press release contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) solely for the convenience of the reader. Unless otherwise specified, all translations of Renminbi amounts into U.S. dollar amounts in this press release are made at RMB7.1477 to US$1.00, which was the U.S. dollars middle rate announced by the Board of Governors of the Federal Reserve System of the United States on September 30, 2019.

2  Non-GAAP net income is defined as net income excluding share-based compensation expenses.  See “Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.

“We delivered another strong quarter of results with revenue exceeding the high-end of our guidance range as we capitalized on the strength, quality and stickiness of our platform,” commented Mr. Xing Jin, Co-Founder and Chief Executive Officer of So-Young. “Our community of users continues to grow as a result of our enhanced user experience and rich content which drove significant 86.8% year-over-year growth in information services revenue. Medical service providers on our platform continue to see the unique value proposition our effective customer acquisition services, differentiated branding, and ability to improve operating efficiency offer in driving growth across their businesses. Average mobile MAUs and total number of purchasing users also continued to grow rapidly as well, with increases of 143.8% and 60.2%, respectively, from the same period last year. We will continue to focus on expanding our user base both in quantity and quality by penetrating deeper into the medical aesthetic service industry. Looking ahead, we do believe that this sector will continue to generate substantial growth opportunities and are confident that our strategy will uniquely positioned to benefit from them and create long-term value for our shareholders.”

“Total revenues during the quarter exceeded guidance, coming in at RMB302.4 million, an increase of 79.6% year-over-year,” added Mr. Min Yu, Chief Financial Officer of So-Young. “We continue to be strategic in monetizing services across our platform which has not impacted our user base or stickiness. This is key to enhancing the user experience and growing our user base. We are aware of the competitive nature of the industry but remain confident that our differentiated platform and technological innovation will continue to drive operational efficiency while we grow our community of users and capitalize on the network effect. We continue to build our platform out to scale with diverse revenue streams which will help strengthen and support our profitability over the long-run.”

Third Quarter 2019 Financial Results

Revenues

Total revenues were RMB302.4 million (US$42.3 million), an increase of 79.6% from RMB168.3 million in the same period of 2018.

Information services revenue was RMB214.3 million (US$30.0 million), an increase of 86.8% from RMB114.7 million in the same period of 2018.

Reservation services revenue was RMB88.1 million (US$ 12.3 million), an increase of 64.3% from RMB53.6 million in the same period of 2018.

Costs of Revenues

Costs of revenues was RMB53.9 million (US$7.5 million), an increase of 124.4% from RMB24.0 million in the third quarter of 2018. The increase was primarily due to an increase in payroll costs associated with an increase in operational staff headcount.

Gross Profit and Gross Margin

Gross profit was RMB248.5 million (US$34.8 million), an increase of 72.2% from RMB144.3 million in the third quarter of 2018. Gross margin was 82.2%, a decrease from 85.7% in the third quarter of 2018.

Total Operating Expenses

Total operating expenses were RMB228.5 million (US$32.0 million), an increase of 37.3% from RMB166.4 million in the third quarter of 2018.

Sales and marketing expenses were RMB156.6 million (US$21.9 million), an increase of 44.4% from RMB108.4 million in the third quarter of 2018. The increase was primarily due to an increase in expenses associated with marketing and user acquisition activities, and payroll costs associated with the expansion of sales and marketing teams and recognition of share-based compensation expenses.

General and administrative expenses were RMB32.4 million (US$4.5 million), an increase of 38.0% from RMB23.4 million in the third quarter of 2018. The increase was primarily due to an increase in payroll costs associated with the expansion of administrative teams and recognition of share-based compensation expenses.

Research and development expenses were RMB39.5 million (US$5.5 million), an increase of 14.5% from RMB34.6 million in the third quarter of 2018. The decrease was primarily attributable to the one-off share-based compensation expenses recognized for the re-designation of ordinary shares held by one employee to Series E preferred shares in the second quarter of 2018, net of the increase in the payroll costs associated with the expansion of research and development teams .

Income from Operations

Income from operations was RMB20.0 million (US$2.8 million), compared with a loss from operation of RMB22.1 million in the third quarter of 2018.

Non-GAAP income from operations was RMB28.9 million (US$4.0 million), compared with a non-GAAP loss of  RMB6.2 million in the third quarter of 2018.

Income Tax Expense

Income tax expenses were RMB2.9 million (US$0.4 million), compared with an income tax benefits of RMB1.2 million in the same period of 2018, primarily due to an increase in taxable income during the third quarter of 2019.

Net Income

Net income was RMB31.6 million (US$4.4 million), compared with a net loss of RMB25.2 million in the third quarter of 2018.

Non-GAAP net income was RMB40.5 million (US$5.7 million), compared with a non-GAAP net loss of RMB9.3 million for the same period of 2018.

Basic and Diluted Earnings per ADS

Basic and diluted earnings per ADS attributable to ordinary shareholders were RMB0.31 (US$0.04) and RMB0.29 (US$0.04), respectively, compared with basic and diluted loss per ADS attributable to ordinary shareholders of RMB1.68 in the same period of 2018.

Cash and Cash Equivalents, Restricted Cash and Term Deposits and Short-Term Investments

As of September 30, 2019, the Company had cash and cash equivalents, restricted cash and term deposits and short-term investments of RMB2,778.5 million (US$388.7 million), compared with RMB1,206.9 million as of December 31, 2018. The increase was primarily due to net proceeds from the Company’s initial public offering in May 2019.

Business Outlook

For the fourth quarter of 2019, So-Young expects total revenues to be between RMB320 million (US$44.8 million) and RMB340 million (US$47.6 million), representing a 74.9% to 85.8% increase from the same period in 2018.

The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP income from operations and non-GAAP net income by excluding share-based compensation expenses from income from operations and net income, respectively. The Company believes these non-GAAP financial measures are important to help investors understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company’s core operating results, as they exclude certain expenses that are not expected to result in cash payments.  The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future and are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Company’s results. The Company compensates for these limitations by providing the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which should be considered when evaluating the Company’s performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP.  Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure is set forth at the end of this release.

Conference Call Information

So-Young ‘s management will hold an earnings conference call on Thursday, December 5, 2019, at 7:00 AM U.S. Eastern Time (8:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:	+65-6713-5090
China:	4006-208038
US:	+1-845-675-0437
Hong Kong:	+852-3018-6771
Passcode:	3077048

A telephone replay will be available two hours after the conclusion of the conference call through 9:59 AM U.S. Eastern Time, December 13 , 2019. The dial-in details are:

International:	+61-2-8199-0299
US:	+1-646-254-3697
Passcode:	3077048

Additionally, a live and archived webcast of this conference call will be available at http://ir.soyoung.com.

About So-Young International Inc.

So-Young International Inc. (Nasdaq: SY) (“So-Young” or the “Company”) is the most popular online destination for discovering, evaluating and reserving medical aesthetic services in China. With reliable and comprehensive content, as well as a multitude of social functions on its platform, users seeking medical aesthetic treatment can discover products and services, evaluate their quality, and reserve desired treatment. Leveraging So-Young’s strong brand image, extensive audience reach, trust from its users, highly engaging social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and into the massive, fast-growing consumption healthcare service market.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Financial Guidance and quotations from management in this announcement, as well as So-Young’s strategic and operational plans, contain forward-looking statements. So-Young may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about So-Young’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: So-Young’s strategies; So-Young’s future business development, financial condition and results of operations; So-Young’s ability to retain and increase the number of users and medical service providers, and expand its service offerings; competition in the online medical aesthetic service industry; changes in So-Young’s revenues, costs or expenditures; Chinese governmental policies and regulations relating to the online medical aesthetic service industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and So-Young undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

So-Young

E-mail: ir@soyoung.com

Phone: +86-10-8790-2012

Christensen

In China

Mr. Christian Arnell

Phone: +86-10-5900-1548

E-mail: carnell@christensenir.com

In US

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@christensenir.com

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except for share and per share data)

	As of
	December 31, 2018	September 30, 2019	September 30, 2019
	RMB	RMB	US$
Assets
Current assets:
Cash and cash equivalents	563,383	610,379	85,395
Restricted cash	—	13,620	1,906
Trade receivables	10,473	23,720	3,319
Receivables from online payment platforms	9,970	16,464	2,303
Amount due from related parties	850	5,282	739
Term deposits and short-term investments	643,539	2,154,539	301,431
Prepayment and other current assets	50,236	73,877	10,336
Total current assets	1,278,451	2,897,881	405,429
Non-current assets:
Long-term investments	14,813	36,563	5,115
Property and equipment, net	3,253	34,735	4,860
Deferred tax assets	30,894	27,993	3,916
Prepayment for long-term investment	11,500	—	—
Operating lease right-of-use assets1	—	152,532	21,340
Other non-current assets	1,625	14,969	2,094
Total non-current assets	62,085	266,792	37,325
Total assets	1,340,536	3,164,673	442,754
Liabilities
Current liabilities:
Taxes payable	41,552	24,993	3,497
Contract liabilities	116,967	117,576	16,450
Salary and welfare payables	71,486	89,851	12,571
Amount due to related parties	925	3,610	505
Accrued expenses and other current liabilities	71,226	175,225	24,515
Operating lease liabilities-current1	—	38,293	5,357
Total current liabilities	302,156	449,548	62,895
Operating lease liabilities-non current1	—	129,644	18,138
Total liabilities	302,156	579,192	81,033

1  The Company has adopted ASU No. 2016-02, “Leases (Topic 842)” beginning January 1, 2019 using the optional transition method and accordingly, has not recast prior periods. The only major impact of the standard is the recognition of assets and liabilities for operating leases of approximately RMB191,236 and RMB 195,563, respectively, at January 1, 2019.

6

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

(Amounts in thousands, except for share and per share data)

	As of
	December 31, 2018		September 30, 2019		September 30, 2019
	RMB		RMB		US$
Mezzanine equity:
Series A convertible redeemable preferred shares (US$ 0.0005 par value; 8,000,000 shares authorized, issued and outstanding as of December 31, 2018 and none outstanding as of September 30, 2019)	30,440		—		—
Series B convertible redeemable preferred shares (US$ 0.0005 par value; 10,476,190 shares authorized, issued and outstanding as of December 31, 2018 and none outstanding as of September 30, 2019)	99,075		—		—
Series C-1 convertible redeemable preferred shares (US$ 0.0005 par value; 1,030,126 shares authorized, issued and outstanding as of December 31, 2018 and none outstanding as of September 30, 2019)	17,769		—		—
Series C convertible redeemable preferred shares (US$ 0.0005 par value; 4,902,554 shares authorized, issued and outstanding as of December 31, 2018 and none outstanding as of September 30, 2019)	161,101		—		—
Series D convertible redeemable preferred shares (US$ 0.0005 par value; 9,750,676 shares authorized, issued and outstanding as of December 31, 2018, and none outstanding as of September 30, 2019)	422,035		—		—
Series D+ convertible redeemable preferred shares (US$ 0.0005 par value; 3,497,954 shares authorized, issued and outstanding as of December 31, 2018, and none outstanding as of September 30, 2019)	178,035		—		—
Series E convertible redeemable preferred shares (US$ 0.0005 par value; 6,164,979 shares authorized, issued and outstanding as of December 31, 2018 and none outstanding as of September 30, 2019)	487,494		—		—
Total mezzanine equity	1,395,949		—		—
Shareholders’ (deficit)/equity:
Class A Ordinary shares (US$ 0.0005 par value; 12,000,000 shares authorized, issued and outstanding as of December 31, 2018; 750,000,000 shares authorized as of September 30, 2019; 66,613,419 shares issued and outstanding as of September 30, 2019)	37		214		30
Class B Ordinary shares (US$ 0.0005 par value; 144,177,521 shares authorized as of December 31, 2018; 11,290,940 shares issued and outstanding as of December 31, 2018; 20,000,000 shares authorized as of September 30, 2019; 12,000,000 shares issued and outstanding as of September 30, 2019)	35		37		5
Additional paid-in capital	—		2,781,502		389,146
Accumulated deficit	(394,039	)	(318,634	)	(44,579	)
Accumulated other comprehensive income	36,398		122,362		17,119
Total shareholders’ (deficit)/equity	(357,569	)	2,585,481		361,721
Total liabilities, mezzanine equity and shareholders’ (deficit)/equity	1,340,536		3,164,673		442,754

7

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)

(Amounts in thousands, except for share and per share data)

	For the Three Months Ended						For the Nine Months Ended
	September 30, 2018		September 30, 2019		September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2019
	RMB		RMB		US$		RMB		RMB		US$
Revenues
Information services	114,740		214,349		29,989		288,041		568,905		79,593
Reservation services	53,617		88,076		12,322		146,172		224,558		31,417
Total revenues	168,357		302,425		42,311		434,213		793,463		111,010
Cost of revenues	(24,014	)	(53,899	)	(7,541	)	(59,934	)	(140,119	)	(19,603	)
Gross profit	144,343		248,526		34,770		374,279		653,344		91,407
Operating expenses:
Sales and marketing expenses	(108,413	)	(156,583	)	(21,907	)	(242,484	)	(337,881	)	(47,271	)
General and administrative expenses	(23,443	)	(32,359	)	(4,527	)	(47,635	)	(124,492	)	(17,417	)
Research and development expenses	(34,551	)	(39,545	)	(5,533	)	(68,774	)	(122,559	)	(17,147	)
Total operating expenses	(166,407	)	(228,487	)	(31,967	)	(358,893	)	(584,932	)	(81,835	)
(Loss)/Income from operations	(22,064	)	20,039		2,803		15,386		68,412		9,572
Other (expenses)/income:
Investment income	1,341		1,082		151		2,224		4,554		637
Interest income	1,888		15,685		2,194		7,008		31,528		4,411
Exchange losses	(8,120	)	(5,694	)	(797	)	(8,571	)	(3,676	)	(514	)
Others, net	585		3,425		479		604		26,687		3,734
(Loss)/Income before tax	(26,370	)	34,537		4,830		16,651		127,505		17,840
Income tax benefits/(expenses)	1,154		(2,937	)	(411	)	(2,381	)	(20,726	)	(2,900	)
Net (loss)/income	(25,216	)	31,600		4,419		14,270		106,779		14,940
Accretions of convertible redeemable preferred shares to redemption value	(28,120	)	—		—		(68,428	)	(50,219	)	(7,026	)
Net (loss)/income attributable to ordinary shareholders of the Company	(53,336	)	31,600		4,419		(54,158	)	56,560		7,914

8

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (Continued)

(Amounts in thousands, except for share and per share data)

	For the Three Months Ended						For the Nine Months Ended
	September 30, 2018		September 30, 2019		September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2019
	RMB		RMB		US$		RMB		RMB		US$
Net (loss)/income	(25,216	)	31,600		4,419		14,270		106,779		14,940
Other comprehensive income:
Foreign currency translation adjustment	23,853		62,375		8,727		36,172		85,964		12,027
Total other comprehensive income	23,853		62,375		8,727		36,172		85,964		12,027
Total comprehensive (loss)/income	(1,363	)	93,975		13,146		50,442		192,743		26,967
Accretions of convertible redeemable preferred shares to redemption value	(28,120	)	—		—		(68,428	)	(50,219	)	(7,026	)
Comprehensive (loss)/income attributable to ordinary shareholders of the Company	(29,483	)	93,975		13,146		(17,986	)	142,524		19,941
Net (loss)/earnings per ordinary share attributable to ordinary shareholder - basic	(2.19	)	0.40		0.06		(2.17	)	1.07		0.15
Net (loss)/earnings per ordinary share attributable to ordinary shareholder — diluted	(2.19	)	0.38		0.05		(2.17	)	1.00		0.14
Net (loss)/earnings per ADS attributable to ordinary shareholders — basic (13 ADS represents 10 Class A ordinary shares)	(1.68	)	0.31		0.04		(1.67	)	0.82		0.11
Net (loss)/earnings per ADS attributable to ordinary shareholders —diluted (13 ADS represents 10 Class A ordinary shares)	(1.68	)	0.29		0.04		(1.67	)	0.77		0.11
Weighted average number of ordinary shares used in computing earnings per share, basic*	24,395,196		78,613,419		78,613,419		24,981,555		52,800,398		52,800,398
Weighted average number of ordinary shares used in computing earnings per share, diluted*	24,395,196		82,888,045		82,888,045		24,981,555		56,764,774		56,764,774
Share-based compensation expenses included in:
Cost of revenues	(571	)	(1,591	)	(223	)	(1,170	)	(8,700	)	(1,217	)
Selling and marketing expenses	(358	)	(1,097	)	(153	)	(830	)	(6,110	)	(855	)
General and administrative expenses	(2,817	)	(6,415	)	(897	)	(5,623	)	(56,505	)	(7,905	)
Research and development expenses	(12,142	)	208		29		(12,731	)	(16,467	)	(2,304	)

* Both Class A and Class B ordinary shares are included in the calculation of the weighted average number of ordinary shares outstanding, basic and diluted.

9

SO-YOUNG INTERNATIONAL INC.

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands, except for share and per share data)

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2018		September 30, 2019	September 30, 2019	September 30, 2018	September 30, 2019	September 30, 2019
	RMB		RMB	US$	RMB	RMB	US$
GAAP (loss)/income from operations	(22,064	)	20,039	2,803	15,386	68,412	9,572
Add back: Shared-based compensation expenses	15,888		8,895	1,244	20,354	87,782	12,281
Non-GAAP (loss)/income from operations	(6,176	)	28,934	4,047	35,740	156,194	21,853
GAAP Net (loss)/income	(25,216	)	31,600	4,419	14,270	106,779	14,940
Add back: Shared-based compensation expenses	15,888		8,895	1,244	20,354	87,782	12,281
Non-GAAP net (loss)/income	(9,328	)	40,495	5,663	34,624	194,561	27,221

10

EX-99.2

Exhibit 99.2

So-Young Announces Changes to Board of Directors

BEIJING, Dec. 05, 2019 (GLOBE NEWSWIRE) — So-Young International Inc. (Nasdaq: SY) (“So-Young” or the “Company”), the most popular online destination for discovering, evaluating and reserving medical aesthetic services in China, today announced the appointment of Dr. Haipeng Zhang, also known as Feng Tang, to its board of directors (the “Board”).

Dr. Zhang serves as a senior managing director and Head of Healthcare Group at CITIC Capital Partners. Prior to joining CITIC Capital, he was the chief executive officer of China Resources Healthcare Group Limited and the general manager of the strategy management department at China Resources (Holdings) Co., Limited. Prior to that, Dr. Zhang was a partner at Mckinsey & Company and has also worked with China Merchants Holdings (International) Company Limited as the head of Internal Control and Auditing. Dr. Zhang possesses deep knowledge of the healthcare industry and currently serves on the boards of multiple companies in the healthcare industry. He received an MBA degree from Goizueta Business School at Emory University in 2000 and an M.D. degree from Peking Union Medical College in 1998.

“I am pleased to welcome Dr. Zhang to the Board. His extensive background in corporate governance, strategic management and financing will be of great value as we continue to develop our platform and improve all aspects of operations and technological innovation. I look forward to working closely with him going forward and benefit from his extensive experience in the healthcare industry,” commented Mr. Xing Jin, So-Young Co-Founder and Chief Executive Officer.

About So-Young International Inc.

So-Young International Inc. (Nasdaq: SY) (“So-Young” or the “Company”) is the most popular online destination for discovering, evaluating and reserving medical aesthetic services in China. With reliable and comprehensive content, as well as a multitude of social functions on its platform, users seeking medical aesthetic treatment can discover products and services, evaluate their quality, and reserve desired treatment. Leveraging So-Young’s strong brand image, extensive audience reach, trust from its users, highly engaging social community and data insights, the Company is well-positioned to expand both along the medical aesthetic industry value chain and into the massive, fast-growing consumption healthcare service market.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Financial Guidance and quotations from management in this announcement, as well as So-Young’s strategic and operational plans, contain forward-looking statements. So-Young may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about So-Young’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: So-Young’s strategies; So-Young’s future business development, financial condition and results of operations; So-Young’s ability to retain and increase the number of users and medical service providers, and expand its service offerings; competition in the online medical aesthetic service industry; changes in So-Young’s revenues, costs or expenditures; Chinese governmental policies and regulations relating to the online medical aesthetic service industry, general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and So-Young undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

So-Young

E-mail: ir@soyoung.com

Christensen

In China

Mr. Christian Arnell

Phone: +86-10-5900-1548

E-mail: carnell@christensenir.com

In US

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@christensenir.com