So-Young International Inc. announced its unaudited financial results for the third quarter ended September 30, 2024, with total revenues reaching RMB371.8 million (US$53.0 million). This figure represented a 3.5% decrease from RMB385.3 million in the same period of 2023, but exceeded the high end of the company's guidance.
Net income attributable to So-Young International Inc. increased by 8.9% year-over-year to RMB20.3 million (US$2.9 million), compared with RMB18.3 million in Q3 2023. Non-GAAP net income saw a substantial rise of 133.1% year-over-year, reaching RMB22.2 million (US$3.2 million) from RMB9.5 million in the prior year.
Sales of medical products and maintenance services grew by 18.7% year-over-year, contributing to the net income increase. The company's clinic network expanded to 16 stores by the end of the quarter, extending its presence into additional major cities. For the fourth quarter of 2024, So-Young expects total revenues to be between RMB350.0 million and RMB370.0 million.
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