# So-Young International Inc.: Form 20-F for the period ended Dec 31, 2025

- Company: [So-Young International Inc.](/companies/sy.md) (CIK 1758530)
- Form: 20-F
- Filed: 2026-04-23
- Accepted by EDGAR: Apr 23, 2026, 06:20 ET
- Period: 2025-12-31
- Accession: 0001104659-26-047129
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1758530/000110465926047129/sy-20251231x20f.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1758530/000110465926047129/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | $217.8m | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax |
| Cost of revenue | 12 months, 2025-01-01 to 2025-12-31 | $113.8m | us-gaap:CostOfRevenue |
| Gross profit | 12 months, 2025-01-01 to 2025-12-31 | $104.1m | us-gaap:GrossProfit |
| Research and development | 12 months, 2025-01-01 to 2025-12-31 | $19.6m | us-gaap:ResearchAndDevelopmentExpense |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | −$40.9m | us-gaap:OperatingIncomeLoss |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | $114.0k | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | −$34.6m | us-gaap:NetIncomeLoss |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 77,863,698 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | −$15.1m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | $28.1m | us-gaap:PaymentsToAcquireProductiveAssets |
| Dividends paid | 12 months, 2025-01-01 to 2025-12-31 | $2.7m | us-gaap:PaymentsOfDividendsCommonStock |
| Share repurchases | 12 months, 2025-01-01 to 2025-12-31 | $2.2m | us-gaap:PaymentsForRepurchaseOfCommonStock |
| Cash and equivalents | at 2025-12-31 | $59.8m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $212.3m | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $378.9m | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $112.1m | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $140.3m | us-gaap:Liabilities |
| Short-term borrowings | at 2025-12-31 | $5.7m | us-gaap:ShortTermBorrowings |
| Shareholders' equity | at 2025-12-31 | $222.1m | us-gaap:StockholdersEquity |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1758530/000110465926047129/sy-20251231x20f.htm

Filed Apr 23, 2026.
Source: SEC EDGAR, the filing index for accession 0001104659-26-047129. Last ingested by Listed: Oct 24, 2026, 15:15 ET. No prices; not investment advice.