So-Young reports significant revenue growth

So-Young International Inc, the largest online social community in China for consumers, professionals and service providers in the medical aesthetics industry, announced on Monday its unaudited financial results for the fourth quarter and fiscal year ended Dec 31, 2019.

During the fourth quarter 2019, its revenues were 358.2 million yuan ($51.4 million), a 95.7 percent increase from the same period of 2018. The net income was 69.9 million yuan, with a 71.4 percent year-on-year rise.

Average mobile monthly active users were 3.67 million, an increase of 120.1 percent from 1.67 million in the same period of 2018, while total number of purchasing reservation service users were 188,300, a growth of 50.7 percent from 124,900 a year earlier.

Aggregate value of medical aesthetic treatment transactions facilitated by So-Young's platform was about 1.8 billion yuan, an increase of 66.6 percent from a year earlier.

As for the fiscal year 2019, the company's total revenues were 1.15 billion yuan, rising 86.6 percent year on year, while net income was 176.7 million yuan, a surge of 220.8 percent year on year.

Jin Xing Jin, co-founder and CEO of So-Young, said the company has made several strategic changes to enrich the growing and vibrant community of users and medical aesthetic professionals, and its goal for this year is to create a more diverse, engaging and high-quality content portfolio that will dominate the mindshare of users.

That will increase user loyalty to the platform and allow them to seamlessly and efficiently move through the entire decision-making process, he said, adding the outbreak of COVID-19 has been a challenge for the global economy and the company has ensured that efforts focus on upgrading all online features so that users could receive the same quality service throughout the period.