Chinese aesthetic treatment platform So-Young International Inc. (SY), while reporting a loss in its fourth quarter compared to prior year's profit amid weak revenues, on Friday warned on lower revenues in its first quarter. The company further announced a special cash dividend.
In pre-market activity on the Nasdaq, So-Young shares were losing around 3 percent.
Looking ahead, for the first quarter, So-Young expects total revenues to be between RMB280.0 million or $38.4 million and RMB300.0 million or $41.1 million, representing a 5.7% to 12.0% decrease from the same period in 2024.
The outlook reflects the firm's preliminary estimates of market and operating conditions, as well as customer demand.
Further, the board of directors of the Company has declared a special cash dividend of $0.03445 per ordinary share, or $0.0265 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on April 8. The payment date is expected to be on or around April 25.
In its fourth quarter, net loss attributable to the company was RMB607.6 million or $83.2 million, compared with prior year's net income of RMB17.5 million.
Loss per ADS attributable to shareholders were RMB5.92 or $0.81, compared with earnings per ADS of RMB0.18 in the same period of 2023.
The latest results mainly reflected a one-time goodwill impairment charge of RMB540.0 million or $74.0 million for the company's subsidiary, Wuhan Miracle.
Adjusted net loss was RMB53.2 million or $7.3 million, compared with adjusted net income of RMB35.7 million a year earlier.
Total revenues were RMB369.21 million or $50.6 million, a decrease of 5.5% from RMB390.6 million in the same period of 2023. The decrease was primarily due to lower revenues generated by So-Young Prime.
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