So Young Leads China's Medical Aesthetic Industry with Record-Breaking Q1 2026 Earnings
So Young, a leading player in China's medical aesthetic industry, has announced record-breaking earnings for the first quarter of 2026. In a conference call on May 22nd, the company's Chairman and CEO, Xing Jin, highlighted the company's robust performance, with total revenue reaching CNY 433 million, up around 46% year-over-year.
The growth was driven by the expansion of So-Young Clinic's aesthetic center business, which saw revenue reach CNY 282 million, up around 186% year-over-year. This significant increase was attributed to the company's dual engine of scale and efficiency initiative, which has enabled top players in the industry to achieve high-quality growth.
So-Young Clinic continued to lead China's medical aesthetics chain market, ranking number 1 by center count, treatment volume, and user base. The company's operational efficiency and profitability also improved steadily, with the number of profitable centers rising to 41, and 48 centers generating positive operating cash flow.
On treatment volume in Q1, verified treatment visits exceeded 148,000, up 172% year-over-year, while the number of verified treatments performed was over 325,000, up 164% year-over-year. The active user base expanded further, reaching over 210,000 by March end, with the number of level 3 and above core members exceeding 63,000.
The company's brand awareness and conversion rates improved through deepening partnerships with renowned IPs, such as Disney, and the launch of co-branded pop-ups in major commercial areas nationwide for its Miracle Collagen product line. These campaigns attracted active participation from potential customers and generated remarkable results.
In addition to these achievements, So Young continued to improve its per-center economic model through standardized operations, accelerating the ramp-up of new centers, and refining its product portfolio and customer acquisition strategies. As a result, the company's aesthetic center business gross margin reached 27%, reflecting continued operating efficiency gains.
This year, So-Young will continue expanding its center footprint and broadening access to services in major Tier 1 cities, expecting per-center revenue to keep climbing and the chain's financial model to improve meaningfully. The company also emphasized the importance of high-quality medical service delivery, continuing to build core competitiveness across physician teams, diagnosis and treatment quality, and user experience.
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