← So-Young International Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income/(loss) | $17.2m | $55.1m | $176.7m | $4.9m | ($37.6m) | ($66.1m) | $25.9m | ($587.2m) | ($246.9m) | |
| Depreciation of property and equipment and amortization of intangible assets | $619k | $1.7m | $6.1m | $14.1m | $30.1m | $47.1m | $46.1m | $45.9m | $57.2m | |
| Deferred income tax | ($9.1m) | ($21.8m) | ($4.3m) | ($21.4m) | $1.7m | ($24.8m) | ($33.5m) | ($16.2m) | ($1.8m) | |
| Impairment of amount due from related parties | $9.3m | — | — | — | $860k | — | — | $13.8m | — | |
| Impairment of long-term investment | — | $0 | $4.0m | $0 | $17.9m | $7.9m | $444k | $7.3m | $0 | |
| Impairment of property and equipment | $17k | $287k | $689k | $0 | $0 | $1.4m | $844k | $0 | $6.2m | |
| Impairment of intangible assets | — | — | — | — | — | — | $0 | $0 | $13.5m | |
| Impairment of goodwill | — | — | — | — | — | $0 | $0 | $540.0m | $0 | |
| Share-based compensation expenses | $2.7m | $25.9m | $104.2m | $92.2m | $106.2m | $43.3m | $36.3m | $32.7m | $8.9m | |
| Loss on disposal of property and equipment | $17k | $124k | $689k | $10k | $244k | $5k | $136k | $6.2m | $4.1m | |
| Share of losses of equity method investee | $3.9m | — | — | $4.3m | $1.5m | $17.2m | $12.7m | $15.0m | $4.1m | |
| Unrealized losses/(gains) on equity investments | — | — | — | — | — | — | $3.5m | ($4.1m) | $842k | |
| Operating lease liabilities | — | — | ($23.2m) | ($33.5m) | ($35.8m) | ($40.5m) | ($56.5m) | ($38.0m) | ($56.8m) | |
| Inventory provision | — | — | — | — | — | ($1.7m) | ($734k) | $3.4m | $1.5m | |
| Gains on disposal of subsidiaries | — | — | — | — | — | — | ($5.5m) | — | — | |
| Gains on disposal of long-term investments | — | — | — | — | — | — | ($2.8m) | ($2.4m) | — | |
| Expected credit losses | — | — | — | $6.3m | $15.5m | $13.2m | $15.6m | $39.7m | $21.3m | |
| Lease expense to reduce right-of-use assets | — | — | $33.1m | $32.0m | $33.7m | $38.6m | $45.7m | $47.8m | $57.8m | |
| Exchange losses/(gains) | ($2.1m) | $8.0m | $3.2m | $1.1m | $4.8m | $492k | $662k | ($112k) | ($5.9m) | |
| Fair value change of short-term investments | ($1.7m) | ($747k) | $2.3m | ($6.4m) | $8.3m | $49k | ($492k) | $246k | ($41k) | |
| Trade receivables | ($6.5m) | ($3.9m) | ($15.6m) | ($32.6m) | $14.6m | $13.6m | ($28.9m) | ($60.4m) | $21.8m | |
| Receivables from online payment platforms | ($4.2m) | ($3.1m) | ($3.5m) | ($2.8m) | ($2.7m) | $4.1m | ($8.4m) | ($1.1m) | $8.0m | |
| Prepayment and other current assets | ($11.0m) | ($33.4m) | ($19.7m) | $24.3m | ($44.0m) | ($48.3m) | ($50.5m) | ($40.9m) | ($45.8m) | |
| Inventories | — | — | — | — | $7.9m | ($28.0m) | ($2.1m) | ($36.8m) | ($116.0m) | |
| Other non-current assets | ($58k) | — | ($14.2m) | ($1.7m) | ($37.0m) | ($51.3m) | $5.7m | ($29.9m) | ($3.5m) | |
| Contract liabilities | $41.4m | $71.0m | ($23.2m) | $41.5m | ($28.3m) | ($29.0m) | ($6.0m) | ($26.8m) | ($10.6m) | |
| Taxes payable | $9.2m | $31.7m | $26.6m | ($4.9m) | ($13.0m) | $27.2m | ($1.6m) | $12.8m | $1.9m | |
| Salary and welfare payables | $21.6m | $29.2m | $29.2m | ($5.3m) | ($4.8m) | ($31.1m) | $14.3m | $25.1m | $18.8m | |
| Amounts due (from)/to related parties | — | $75k | $1.7m | $5k | ($307k) | $3.9m | ($6.5m) | $95k | $1.6m | |
| Accrued expenses and other liabilities | $14.2m | $39.3m | $99.0m | $67.1m | ($21.1m) | ($15.6m) | $18.2m | $28.0m | $154.6m | |
| Purchase of property and equipment and intangible assets | ($222k) | ($6.4m) | ($37.5m) | ($37.0m) | ($45.1m) | ($15.7m) | ($51.2m) | ($62.5m) | ($196.6m) | |
| Cash paid for long-term investments, including prepayment for new investment | ($12.1m) | ($20.6m) | ($23.7m) | ($125.0m) | ($102.9m) | — | ($36.3m) | ($51.4m) | — | |
| Proceeds from disposal of property and equipment | $17k | $287k | $689k | $10k | $180k | $102k | $299k | $77k | $32.8m | |
| Proceeds from disposal of subsidiaries and investees, net of cash disposed | — | — | — | — | — | — | $6.6m | $3.4m | — | |
| Loans advanced to related party (see Note 23) | ($2.8m) | ($2.0m) | ($5.0m) | ($16.9m) | ($15.7m) | ($18.1m) | ($8.3m) | ($5.9m) | — | |
| Proceeds from repayment of the loan advanced to related party (see Note 23) | $9.0m | $2.0m | $1.3m | $14.7m | $7.2m | — | $18.6m | $13.2m | $500k | |
| Cash paid for repurchase of ordinary shares | — | — | — | — | ($217.7m) | ($15.1m) | ($125.6m) | ($18.2m) | ($15.3m) | |
| Proceeds from capital injection of investee | — | — | — | — | — | $661k | $50k | — | $500k | |
| Proceeds from short-term borrowings | — | — | — | — | — | — | $29.8m | $110.0m | $100.0m | |
| Repayment of short-term borrowings | — | — | — | ($6.5m) | — | — | — | ($70.0m) | ($130.0m) | |
| Proceeds from exercise of share options and vesting of RSUs | — | — | — | — | — | $876k | $192k | $298k | $79k | |
| Converting loan receivable to long-term investment | — | — | — | — | — | — | $15.1m | — | — | |
| Inventories transferred to property and equipment, net | $17k | $287k | $689k | $10k | $180k | $102k | $4.4m | $518k | $32.8m | |
| Net cash provided by/(used in) operating activities | $90.9m | $199.0m | $383.8m | $179.2m | $84.3m | ($112.9m) | $22.5m | ($25.6m) | ($105.4m) | |
| Purchase of short-term investments and term deposits | ($27.6m) | ($1.1b) | ($3.0b) | ($2.8b) | ($1.9b) | ($1.2b) | ($2.2b) | ($1.2b) | ($872.3m) | |
| Proceeds from Maturities, Prepayments and Calls of Short-Term Investments | — | — | — | — | — | — | $2.1b | $1.5b | $1.0b | |
| Net cash (used in)/provided by investing activities | $7.0m | ($569.4m) | ($1.3b) | $123.8m | $339.8m | ($572.2m) | ($202.6m) | $257.0m | ($42.8m) | |
| Dividend paid to non-controlling interests shareholders | — | — | — | — | — | — | $4.5m | — | — | |
| Dividend distribution | — | — | — | — | — | — | — | ($43.6m) | ($19.0m) | |
| Net cash used in financing activities | $324.7m | $485.4m | $1.3b | ($5.8m) | ($216.7m) | ($13.6m) | ($100.0m) | ($21.5m) | ($63.7m) | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($114k) | $7.5m | $20.6m | ($52.7m) | ($9.2m) | $55.9m | $11.9m | $3.3m | ($1.5m) | |
| Net (decrease)/increase in cash, cash equivalents and restricted cash | $422.5m | $122.5m | $337.8m | $244.5m | $198.1m | ($642.8m) | ($268.3m) | $213.2m | ($213.4m) | |
| Cash, cash equivalents and restricted cash at the beginning of the year | $440.9m | $563.4m | $901.2m | $1.1b | $1.3b | $701.0m | $432.7m | $646.0m | $432.6m | |
| Cash paid for income taxes | ($7k) | ($243k) | ($38.1m) | ($24.1m) | ($31.2m) | ($11.4m) | ($16.3m) | $11.6m | ($9.8m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.