So-Young International Inc. (SY), a leading aesthetic treatment platform in China, has announced a change to its American Depositary Share - ADS ratio.
The new ratio will shift from 13 ADSs representing 10 Class A ordinary shares to 1 ADS representing 15 Class A ordinary shares.
This adjustment will effectively act as a proportional reverse ADS split for ADS holders, with no impact on the number of Class A ordinary shares. The change is set to take effect when trading opens on Nasdaq on June 30, 2025 (U.S. Eastern Time).
The transition will occur automatically; ADS holders on record as of the effective date need not take any action. Old ADSs will be cancelled, and new ADSs issued accordingly. The stock will continue to trade under the ticker "SY."
Fractional ADS entitlements will not be issued. Instead, they will be aggregated and sold by the depositary bank, with net proceeds distributed to applicable holders after deductions. The ADS price is expected to rise proportionally, though the company does not guarantee a specific price outcome post-change.
Friday SY closed at $0.8575 or 7.7957% lower on the Nasdaq Capital Market.
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