So-Young International Reports Strong Financial Growth in Q2 2026

On August 31, 2026, So-Young International Inc. (Nasdaq: SY), the foremost aesthetic treatment platform in China, released its unaudited financial results for the second quarter ended June 30, 2026. The company has demonstrated remarkable financial performance, significantly surpassing expectations.

Financial Highlights

During the second quarter of 2026, So-Young achieved total revenues of RMB 505.2 million, equating to approximately USD 74.5 million. This figure marked a notable increase of 33.4% compared to RMB 378.7 million during the same period in the prior year. In particular, revenues from aesthetic treatment services reached RMB 331.4 million (USD 48.8 million), reflecting a staggering 129.5% year-over-year growth, surpassing the company’s guidance.

The net loss attributable to So-Young shrank to RMB 22.7 million (USD 3.3 million) from RMB 36.0 million in the second quarter of 2025. The non-GAAP net loss also improved to RMB 21.0 million (USD 3.1 million) from RMB 30.5 million. This demonstrates progress towards profitability, confirming the effectiveness of the strategies implemented by the management team.

Operational Highlights

In terms of operational metrics, the number of verified treatment visits to branded aesthetic centers soared by 145%, reaching approximately 165,200 from 67,400 visits year-on-year. Additionally, the total number of aesthetic treatments performed exceeded 362,300, marking a 134% increase from around 154,500 treatments in the same quarter of 2025.

Active users, defined as those who visited branded aesthetic centers at least once in the last 12 months, surpassed 255,300, which is a 154% rise compared to 100,400 users during the corresponding period in the previous year. Notably, the company also reported a sequential increase in core members, growing by over 15,000 in the quarter, contributing to more than 80% of aesthetic treatment service revenue with a repurchase rate of nearly 70%.

So-Young operates 65 fully operational branded aesthetic centers across eighteen major cities in China, including Beijing, Shanghai, and Guangzhou. Impressively, 47 of these centers reached profitability in Q2 2026, while 51 centers generated positive quarterly operating cash flow.

Management Commentary

Co-Founder and CEO, Mr. Xing Jin, emphasized that the company's sustained focus on efficiency and scale has yielded consistent growth in the aesthetic treatment sector. He highlighted the effective integration of AI and enhanced medical capabilities as crucial components of the company's growth strategy. Looking forward, So-Young aims to reinforce its supply chain and accelerate its AI-powered transformation to deliver even more competitive products and services across its expanding network.

CFO Ms. Shannon Shen noted that the company's aesthetic treatment revenues topped RMB 330 million in Q2 2026, achieving a year-on-year growth rate of approximately 130%. This consistent performance reflects So-Young's commitment to operational excellence and strategic foresight, reinforcing its position as a leader in the facial aesthetic market.

Future Outlook

So-Young anticipates substantial growth for its third quarter of 2026, projecting aesthetic treatment services revenues between RMB 352.0 million (USD 51.9 million) and RMB 362.0 million (USD 53.4 million), representing an expected growth rate of 91.7% to 97.2% from the same period the previous year. This optimistic outlook is attributed to a combination of favorable market conditions and robust customer demand.

In summary, So-Young's second-quarter results not only affirm its successful business model but also pave the way for continued growth and development in China's aesthetic treatment industry. With a clear focus on strategic enhancements and innovation, So-Young is poised for a promising future in the cosmetic space.