So-Young Adjusts Timeline for Upcoming ADS Ratio Changes Announced Earlier

So-Young International Inc.: Important Update on ADS Ratio Change

On June 20, 2025, So-Young International Inc. (Nasdaq: SY), a premier aesthetic treatment platform in China, made a significant announcement regarding its American Depositary Shares (ADS). The company revealed an amendment to the effective date for the previously declared plan concerning the change in ADS ratio.

Originally, the company intended to revise the ADS ratio from 13 ADSs representing 10 Class A ordinary shares to a new structure of 1 ADS representing 15 Class A ordinary shares. This change was set to commence at the beginning of trading on June 30, 2025 (U.S. Eastern Time). However, after careful deliberation, So-Young has opted for more time to finalize the necessary preparations for this important ratio change.

The adjustment's new timeline will be shared with shareholders as soon as it becomes available. For holders of the company's ADS, the planned ratio change is designed to have a similar effect as a reverse ADS split without affecting the Class A ordinary shares. Essentially, record holders on the effective date will not need to undertake any actions related to the ratio modification. The existing ADSs will automatically be cancelled, and new ADSs will be issued by the depositary bank.

This move ensures that the company remains transparent with its investors while aiming to enhance its capital structure. It is crucial to note that fractional new ADSs will not be created during this transition. Any fractional entitlements to the new ADSs will be aggregated by the depositary bank, and the net cash from the sales will be distributed to relevant ADS holders post the deduction of associated fees, taxes, and expenses.

In light of the ratio change, the price of the ADS is anticipated to increase proportionally. However, So-Young cautions that it cannot guarantee that the post-change ADS price will meet or exceed the proportional value based on the price prior to the modification.

About So-Young International Inc.

So-Young operates as China's leading aesthetics treatment aggregator, bridging consumers with an array of aesthetic services. The platform connects users to both online and offline treatment options, featuring an extensive database of curated treatment information. Additionally, So-Young streamlines the reservation process while offering quality treatments through its registered aesthetic centers. The company is also involved in the development and distribution of optoelectronic medical equipment and injectables, maintaining strong brand recognition and an excellent supply chain for optimal service delivery.

The forward-looking statements in So-Young's announcement are made in accordance with the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, and may contain inherent risks and uncertainties surrounding the company's future plans. Further information regarding potential risks is available in So-Young's filings with the Securities and Exchange Commission.

Investors are encouraged to monitor updates from the company as they continue to refine their plans to optimize shareholder value moving forward.

For additional inquiries, So-Young provides an investor relations contact, Mona Qiao, reachable at +86-10-8790-2012, and email: ir@so-young.com, demonstrating their commitment to transparency with investors.