So-Young International Inc.

Ladies and gentlemen, thank you for standing by for So Young's fourth quarter and full year 2025 earnings conference call. At this time, all participants are in the listen-only mode. After management give their prepared remarks, there will be a question and answer session. As a reminder, today's conference call is being recorded. I will now like to turn the meeting over to your host for today's call, Ms. Mona Chow. Please proceed, Mona.

Thank you, Operator, and thank you, everyone, for joining Suyang's fourth quarter and full year 2025 earnings conference call. Joining me today on the call is Mr. Jinxing, our founder, chairman, and CEO, and Ms. Zhang Xia, VP of Finance. Before we begin, please refer to the September statement in our earnings release, which applies to this call as we'll be making for the local statement. Please also note that We will discuss non-GAAP measures today, which are more thoroughly explained and reconciled to the most comparable measures reported under GAAP. We have an early introduction on our investor relations website and findings with SEC. Please also note, all fingers mentioned in this call are in the movie, or as otherwise stated. At this time, I'd like to turn the call over to Mr. Yingxin.

Hello, everyone. Welcome to today's press conference. In the year of 2025, China's medical industry will undergo structural adjustment. The supply and demand of oil continues to grow. Consumers need to be rational. The return of value is becoming the common theme of the entire industry. For institutions that insist on the standardization and standardization of the route, this is exactly the window period for accumulating long-term advantages. In the fourth quarter, Xinyang continues to expand its investment and steadily advances in three directions. continue to realize the size of the joint business breakthrough and increase the efficiency of the business, continue to deepen the medical care ability, and build a long-term supply chain that is self-motivating. Continue to strengthen the supply chain, increase brand influence, and grasp market opportunities. We are very happy to see that these three choices are also reflected in the financial data. In the fourth quarter, the company achieved a total income of 4.6 million yuan a month, The growth rate is 25%. The company's record income is historically high. The company's business income is 2.48 billion yuan. The company's growth rate is more than 205%. It is about 10% above the last line. The company's business has become the first major income source of the group and the core growth engine. Xinyang Youth Institute has also become the largest youth institute in China.