BEIJING, Aug. 29,
2024 /PRNewswire/ -- So-Young International Inc.
(Nasdaq: SY) ("So-Young" or the "Company"), the largest and most
vibrant social community in China
for consumers, professionals and service providers in the medical
aesthetics industry, today announced it has received a notification
letter dated August 28, 2024 (the
"Notice") from the staff of the Listing Qualifications Department
of The Nasdaq Stock Market LLC ("Nasdaq"), indicating that for the
last 30 consecutive business days, the closing bid price of the
Company's American depositary shares (the "ADSs") was below the
minimum bid price of US$1.00 per
share requirement set forth in Nasdaq Listing Rule 5450(a)(1). The
Notice has no current effect on the listing or trading of the
Company's ADSs on Nasdaq.
Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company
is provided with a compliance period of 180 calendar days, or until
February 24, 2025, to regain compliance under the Nasdaq Listing
Rules. If at any time during the 180-day compliance period, the
closing bid price of the Company's ADSs is US$1.00 per share or
higher for at least ten consecutive business days, Nasdaq will
provide the Company written confirmation of compliance and the
matter will be closed. In the event the Company does not regain
compliance by February 24, 2025, subject to the determination by
the staff of Nasdaq, the Company may be eligible for an additional
180-day compliance period if it meets the continued listing
requirement for market value of publicly held shares and all other
initial listing standards, with the exception of the minimum bid
price requirement. In this case, the Company will need to provide
written notice of its intention to cure the deficiency during the
second compliance period, including by effecting a reverse stock
split, if necessary.
The Nasdaq notification letter does not affect the Company's
business operations, and the Company will take all reasonable
measures to regain compliance within the prescribed grace
period.
About So-Young International Inc.
So-Young International Inc. (Nasdaq: SY) is the largest and most
vibrant social community in China
for consumers, professionals and service providers in the medical
aesthetics industry. The Company presents users with reliable
information through offering high quality and trustworthy content
together with a multitude of social functions on its platform, as
well as by curating medical aesthetic service providers that are
carefully selected and vetted. Leveraging So-Young's strong brand
image, extensive audience reach, trust from its users, highly
engaging social community and data insights, the Company is
well-positioned to expand both along the medical aesthetic industry
value chain and into the massive, fast-growing consumption
healthcare service market.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
So-Young may also make written or oral forward-looking statements
in its periodic reports to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in verbal statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including but not limited to statements
about So-Young's beliefs and expectations, are forward-looking
statements. Forward looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding these and other risks is
included in the Company's filings with the Securities and Exchange
Commission. All information provided in this press release is as of
the date of the press release, and So-Young undertakes no duty to
update such information, except as required under applicable
law.
For investor and media inquiries, please contact:
So-Young
Investor Relations
Ms. Mona Qiao
Phone: +86-10-8790-2012
E-mail: ir@soyoung.com
Christensen
In China
Ms. Dee Wang
Phone: +86-10-5900-1548
E-mail: dee.wang@christensencomms.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
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SOURCE So-Young International Inc.
