So-Young (SY) Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company

POTENTIAL DEAL DETAILS

So-Young International Inc. (SY), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, announced that its board of directors has received a preliminary non-binding proposal letter, dated November 22, 2021, from Mr. Xing Jin, co-founder, Chairman of the Board and Chief Executive Officer of the Company, to acquire all of the outstanding Class A ordinary shares of the Company that are not already owned by Mr. Jin and his affiliates for a purchase price of $5.30 per American Depositary Share, or US$6.89 per Class A ordinary share, in cash.

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