So-Young reports Q4 EPS 3c, consensus 2c

Reports Q4 revenue $55.01M, consensus $51.66M. Average mobile MAUs were 2.7M, compared with 4M in the fourth quarter of 2022. Xing Jin, co-founder and CEO of So-Young, commented, “We are extremely pleased with what we accomplished in 2023. We closed out a difficult year on solid footing with a 20% increase in revenue for the fourth quarter to nearly RMB391 million, in line with our guidance, and regained profitability for the year with net income attributable to So-Young International Inc. of RMB17.5 million. In many ways, 2023 presented an even more challenging situation than the COVID-19 pandemic did. In this context, our financial results for the year are even more impressive and a testament to our resilience and adaptability in the face of evolving consumer behaviors and market practices. Looking back on the past year, we believe our differentiated strategy with a focus on premium services and products for high-tier users was – and will continue to be – key to maintaining stable growth going forward. The model clinic that we set up at our headquarters-focused on light aesthetic procedures-is a good example of this quality focus. Our supply chain business directly compliments this by allowing us to better keep on top of trends and guarantee the quality of our products as we secure additional product certifications. We are confident that these new businesses will become significant contributors to revenue in the coming quarters.”