Q2 2024 So-Young International Inc Earnings Call Transcript
Key Points
- Total revenue of RMB407.4 million exceeded the top end of guidance.
- Non-GAAP net profit increased by 43.1% year-over-year to RMB22.2 million.
- Revenue from the sales of medical products and maintenance services grew by 22.6% year-over-year.
- The number of verified customers increased by 85% quarter-over-quarter, with a repeat purchase rate exceeding 50%.
- Customer satisfaction improved significantly, reaching 4.97 out of 5.
- Total revenues decreased by 1.1% year-over-year.
- Information services and other revenues fell by 6.6% year-over-year.
- Reservation services revenues dropped by 16.9% year-over-year.
- Cost of revenues increased by 3.1% year-over-year, driven by higher costs associated with the sales of cosmetic products.
- The macroeconomic environment remains challenging, with soft consumer confidence and discretionary spending.
Ladies and gentlemen, thank you for standing by for So-Young's second quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's conference call is being recorded. I would now like to turn the conference over to your host for today's call, Ms. Mona Qiao. Please go ahead, Ms. Mona.
Thank you, operator, and thank you, everyone, for joining So-Young's Second Quarter 2020 Earnings Conference Call. Joining me today on the call is Mr. Xing Jin, our Co-Founder, Chairman and CEO; and Mr. Nick Zhao, CFO. Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the US Private Securities and the Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations.
Potential risks and uncertainties include, but are not limited to, those outlined in our public filings with the SEC, including our annual report on
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