Connect with us

Technology

Head：China makes collaborative efforts in healing people with mental disorders with AI

Published

2 hours ago

on

BEIJING, Nov. 20, 2024 /PRNewswire/ — After a long day at work, Ni Beiyue sits in front of his computer at home, eagerly immersing himself in the world of creating short videos with AI (artificial intelligence) tools. For nearly three hours, he brainstorms video content, generates mental images using AI, and makes the necessary revisions. It is late in the night when he finally uploads the finished video to an online platform, but Ni Beiyue feels quite happy and fulfilled.

It’s hard to imagine that just a few months ago, the 45-year-old was a patient struggling with severe depression. With the help of AI tools, Ni Beiyue gradually channeled his heavy sadness into video creation, and eventually freed himself from hospitalization and medication – a miracle in the eyes of his doctor.

Mental health is a topic that the Chinese government and society have long cared about, and an important factor related to people’s well-being. With the rapid development of AI technology in China, various AI companies, hospitals, regional governments, and social organizations are creatively applying AI to improve mental health and treat psychological disorders.

From using AI algorithms and large models for assessment, monitoring, and rehabilitation training, to employing AI-generated tech – which includes AI-generated image, music, and video creation – for supportive psychological healing, these initiatives have, to some extent, shown promising results, the Global Times learned. They showcase the warmth of human compassion shining through the rapid advancements in China’s AI technology.
“I am grateful to have encountered AI during my darkest days,” Ni Beiyue told the Global Times. “It saved me.”

An outlet and bridge of emotion

In early 2023, Ni Beiyue was introduced to AI generative tools through a friend’s recommendation, at a time when his mental health was poor.

Ni Beiyue works in the transportation system in Wenzhou, East China’s Zhejiang Province. He recalled that due to immense work pressure and other factors, he was diagnosed with severe depression and spent six months in the hospital, taking medication with no improvement.

To help Ni Beiyue overcome his struggles with depression, his friend Ni Kaomeng, a seasoned generative AI enthusiast, shared some text-to-video tools with him. Ni Beiyue was quickly captivated.

“I graduated from an art school, and my passion for artistic creation has never faded, although my job is unrelated to that,” said Ni Beiyue. He said that the first time he used these AI tools, he felt his previous state of emptiness and confusion dissipate. “I seemed to see a glimmer of hope, as I could finally pick up art again.”

Despite having little knowledge of this new field, Ni Beiyue’s background in art, and the low entry barrier of generative AI tools, allowed him to quickly master the creation of AI videos. His creative enthusiasm then surged. Over the next four months, Ni Beiyue created and uploaded more than 120 self-made short AI videos, many of which featured lighthearted themes like cute animals. These videos garnered him a total of 30 million views, along with unprecedented confidence and joy.

AI video creation serves as an excellent outlet for Ni Beiyue’s negative emotions. He said that thanks to AI, now he has largely recovered, no longer needing medication for his depression. “Even my doctor was amazed,” he added.

Ni Kaomeng was pleased with his friend’s improvement in mental health. As the initiator of the China AIGC (AI-generated content) Industrial Alliance, a nationwide civil group of China’s AIGC industry insiders, Ni Beiyue’s experience has also inspired him to explore using AI tools to assist other groups facing psychological issues. He believes that AI tools can serve as an outlet for individuals with depression like Ni Beiyue to express their emotions, and can also act as a new bridge for patients with other mental health conditions – such as autism – to further connect with the world.

Ni Kaomeng said that in 2024, the alliance organized two public benefit activities related to children with autism, in collaboration with charitable groups. During these events, the artwork created by some autistic children was re-created and enriched using AI tools. The alliance also created an AI music video from their artwork, attracting tens of millions of views online.

“In my understanding, children with autism may have a lot to say internally, but find it difficult to express themselves through conventional means like language,” Ni Kaomeng told the Global Times. “The low entry barrier of generative AI tools can help them present their inner thoughts and bridge the gap with the world.” He said that the alliance members plan to hold more activities to support children with autism, including attempts to teach them how to create music using AI.

“If language limits some autistic children’s expression, then we will use AI tools to break through that limitation,” he noted.

In September, Ni Kaomeng’s alliance held an online exhibition focused on supporting children with autism. In about two months, it gathered 537 pieces of themed drawings, many of which were also reinterpreted with AI tools. The artworks from these “children from the stars” became even more interesting and imaginative under the interpretation of AI.

“The combination of my child’s drawings with AI has turned his dreams into reality,” said the parent of a participating child with autism surnamed Ma. “He felt an immense joy.”

More objective, quantifiable
There are over 10 million individuals with autism in China, with a conservative estimate of around 2 million children aged 0-14, according to the fifth report on the Development of Autism Education and Rehabilitation Industry in China released in April 2024. “Autism is the leading mental disability among children in our country,” Feng Rui, director of the Chengdu Frontier Brain AI Innovation Center in Southwest China’s Sichuan Province, told the media in April.

Diagnosing autism in young children has been challenging. Due to their age, very young children often struggle to express themselves fully and cannot undergo assessments effectively, making it difficult to distinguish autism from other developmental disorders, said Lü Zhuhai, a chief neurosurgeon at Nanjing Brain Hospital in East China’s Jiangsu Province. Similarly, the diagnosis of adolescent mental health issues such as ADHD and depression may not be sufficient if it relies solely on the work of psychiatrists, as it lacks objective and quantifiable assessments, Lü added.

“In clinical practice, we often encounter parents of children with depression asking if their child can stop medication. However, the criteria for determining whether a child’s depression has improved are usually quite vague, such as when a doctor asks the patient, ‘Do you feel better?'” Lü told the Global Times. “We need more objective data to assess whether the situation has improved.”

Interested in the potential of AI technology for diagnosing and rehabilitating mental health issues, Lü and his team have developed their own algorithm platform and database in recent years. They collected and analyzed various characteristic signals of mental disorders, such as neural networks, hormone levels, and brain waves, to assist in diagnosing children’s mental health issues.

At Feng’s innovation center, AI technology is also bringing about positive developments. For instance, a research team at the center has reportedly established an early diagnosis and identification system for children with Autism Spectrum Disorder (ASD) based on AI technologies, such as deep learning, transfer learning, and manifold learning. This system fills a gap in the Chinese domestic field, “achieving a diagnostic accuracy rate of 91.67 percent,” said Sichuan-based Fengmian News in April. 

Lü said that most of these AI devices and technologies have not yet been applied at the hospital level, but this is a promising start. “In the future, we will collaborate with special education schools, rehabilitation institutions, and research institutes, to ensure that AI technology benefits more people with mental health issues, especially children and teenagers,” he told the Global Times.

Government support

In July, the Chinese government released the “Implementation Plan for the Care and Promotion of Autistic Children (2024-2028),” which outlines a five-year initiative to improve the care service mechanisms and systems for children with autism. Notably, the plan includes the integration of 29 medical rehabilitation projects for children with autism into the national health insurance system, aimed at alleviating the medical and rehabilitation burdens on involved families.

Ni Kaomeng expressed his enthusiasm for this plan, saying that it signifies a commitment from the government and society to allocate more resources to support children with autism. Ni Kaomeng, who is also the deputy head of the Wenzhou Federation of Social Science, shared that the federation regularly organizes activities to care for children with autism and other mental health issues.

On a broader scale, the State Council of China in 2022 issued a plan to improve policies on national health during the 14th Five-Year Plan period (2021-2025), which places greater emphasis on mental health. The plan stated the goal of slowing the rising trend of mental health disorders and effectively controlling severe mental illnesses and occupational diseases by 2025. 
With national support, AI has significant potential in the detection and intervention of mental health issues, said Ni Kaomeng. He envisioned several possible applications of AI technology in this field, such as “AI psychologists” based on large language models, and an “AI network manager” that can monitor the depressive and suicidal tendencies of underage users through their posts.

“In the future, the government will encourage AI companies and institutions to participate more actively in serving patients with mental health issues, through ways such as policy subsidies and service purchases,” he said. “It will be a ‘two-way effort.'”

https://www.globaltimes.cn/page/202411/1323398.shtml

View original content:https://www.prnewswire.com/news-releases/headchina-makes-collaborative-efforts-in-healing-people-with-mental-disorders-with-ai-302311085.html

SOURCE Global Times

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

So-Young Reports Unaudited Third Quarter 2024 Financial Results

Published

5 minutes ago

on

November 20, 2024

By

BEIJING, Nov. 20, 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 its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Financial Highlights

Total revenues were RMB371.8 million (US$53.0 million[1]), compared with RMB385.3 million in the corresponding period of 2023, exceeding the high end of guidance.Net income attributable to So-Young International Inc. was RMB20.3 million (US$2.9 million), compared with net income attributable to So-Young International Inc. of RMB18.3 million in the same period of 2023.Non-GAAP net income attributable to So-Young International Inc.[2] was RMB22.2 million (US$3.2 million), compared with non-GAAP net income attributable to So-Young International Inc. of RMB9.5 million in the same period of 2023.

Third Quarter 2024 Operational Highlights

Average mobile MAUs were 1.4 million, compared with 3.1 million in the third quarter of 2023.Number of medical service providers subscribing to information services on So-Young’s platform was 1,322, compared with 1,397 in the third quarter of 2023.Total number of purchasing users through reservation services was 114.9 thousand and the aggregate value of medical aesthetic treatment transactions facilitated by So-Young’s platform was RMB346.0 million.

Mr. Xing Jin, Co-Founder and Chief Executive Officer of So-Young, said, “Our third quarter performance beat the high end of our guidance once again, highlighting the resilience of our business. Sales of medical products and maintenance services grew by 18.7% year-over-year, becoming a key growth driver contributing to a year-over-year increase in net income. This underscores the effectiveness of our strategy to stay at the forefront of industry trends by deepening the synergies from our vertical integration and continuously diversifying our offerings. Our clinic network has experienced significant growth. The number of stores has grown to 16 by the end of this quarter, extending our presence into additional major cities. All stores are situated in central business districts, enhancing our market coverage and competitive position. To further scale our offline presence, we are accelerating the deployment of this proven standardized model in other cities nationwide and are exploring franchising opportunities to engage with a wider audience. The reputational strength of our brand and our deep understanding of evolving consumer behavior uniquely position us to develop products that resonate with consumer needs. Sales momentum remains robust, driven by both our well-established products and exciting new launches in collaboration with our supply chain partners. Looking ahead, we are committed to seizing opportunities across the entire medical aesthetics value chain while deepening the integration of our three core businesses to maximize operational efficiency, customer satisfaction, and sustainable growth.”

Mr. Hui Zhao, Chief Financial Officer of So-Young, added, “Our third-quarter results reflect our ability to strategically adapt to changing market dynamics. Through disciplined cost management and targeted growth initiatives, we are carefully navigating this challenging market environment while building a solid foundation for future expansion. Encouragingly, our net income and non-GAAP net income attributable to So-Young International Inc. improved significantly, with year-over-year growth rates exceeding 8.9% and 133.1% respectively. Looking ahead, we will leverage our expanding network of clinics and meticulously curated product offerings to address the growing demand for high-quality solutions and services. By maintaining operational efficiency and scalability, we are well-positioned to continue leading the medical aesthetics sector, delivering sustainable growth and long-term value for our shareholders.”

[1] This press release contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) solely for the convenience of the reader. Unless otherwise specified, all translations of Renminbi amounts into U.S. dollar amounts in this press release are made at RMB7.0176 to US$1.00, which was the U.S. dollars middle rate announced by the Board of Governors of the Federal Reserve System of the United States on September 30, 2024.

[2] Non-GAAP net income attributable to So-Young International Inc. is defined as net income attributable to So-Young International Inc. excluding share-based compensation expenses attributable to So-Young International Inc. See “Reconciliation of GAAP and Non-GAAP Results” at the end of this press release.

Third Quarter 2024 Financial Results     

Revenues

Total revenues were RMB371.8 million (US$53.0 million), a decrease of 3.5% from RMB385.3 million in the same period of 2023. The decrease was primarily due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.

Information services and other revenues were RMB263.0 million (US$37.5 million), a decrease of 8.0% from RMB285.9 million in the same period of 2023. The decrease was primarily due to a decrease in the number of medical service providers subscribing to information services on So-Young’s platform.Reservation services revenues were RMB19.6 million (US$2.8 million), a decrease of 18.9% from RMB24.1 million in the same period of 2023. The decrease was primarily due to a decrease in consumer spending through our platform.Sales of medical products and maintenance services were RMB89.3 million (US$12.7 million), an increase of 18.7% from RMB75.2 million in the same period of 2023, primarily due to an increase in the order volumes for cosmetic products and medical equipment.

Cost of Revenues

Cost of revenues was RMB142.2 million (US$20.3 million), a decrease of 0.3% from RMB142.6 million in the third quarter of 2023. The decrease was primarily due to a decrease in the cost of services associated with the information services. Cost of revenues included share-based compensation expenses of RMB0.1 million (US$0.0 million), compared with the share-based compensation expenses of RMB0.4 million in the corresponding period of 2023.

Cost of services and others were RMB98.6 million (US$14.1 million), a decrease of 4.7% from RMB103.5 million in the third quarter of 2023. The decrease was primarily due to a decrease in the cost of services associated with the information services.Cost of medical products sold and maintenance services were RMB43.5 million (US$6.2 million), an increase of 11.3% from RMB39.1 million in the third quarter of 2023. The increase was primarily due to an increase in costs associated with the sales of cosmetic products.

Operating Expenses

Total operating expenses were RMB225.0 million (US$32.1 million), a decrease of 8.1% from RMB244.7 million in the third quarter of 2023.

Sales and marketing expenses were RMB114.9 million (US$16.4 million), a decrease of 20.1% from RMB143.8 million in the third quarter of 2023. The decrease was mainly due to a decrease in expenses associated with branding and user acquisition activities. Sales and marketing expenses included share-based compensation expenses of RMB0.2 million (US$0.0 million), compared with RMB0.5 million in the corresponding period of 2023.General and administrative expenses were RMB69.9 million (US$10.0 million), an increase of 39.1% from RMB50.2 million in the third quarter of 2023. The increase was primarily due to an increase in share-based compensation expenses. General and administrative expenses included share-based compensation expenses of RMB1.3 million (US$0.2 million), compared with a reversal of share-based compensation expenses of RMB11.2 million in the corresponding period of 2023.Research and development expenses were RMB40.2 million (US$5.7 million), a decrease of 20.6% from RMB50.6 million in the third quarter of 2023. The decrease was primarily attributable to improvements in staff efficiency. Research and development expenses included share-based compensation expenses of RMB0.3 million (US$0.0 million), compared with RMB1.5 million in the corresponding period of 2023.

Income Tax (Expenses)/Benefits

Income tax expenses were RMB2.1 million (US$0.3 million), compared with income tax benefits of RMB2.2 million in the same period of 2023.

Net Income Attributable to So-Young International Inc.

Net income attributable to So-Young International Inc. was RMB20.3 million (US$2.9 million), compared with a net income attributable to So-Young International Inc. of RMB18.3 million in the third quarter of 2023.

Non-GAAP Net Income Attributable to So-Young International Inc.

Non-GAAP net income attributable to So-Young International Inc., which excludes the impact of share-based compensation expenses attributable to So-Young International Inc., was RMB22.2 million (US$3.2 million), compared with RMB9.5 million non-GAAP net income attributable to So-Young International Inc. in the same period of 2023.

Basic and Diluted Earnings per ADS

Basic and diluted earnings per ADS attributable to ordinary shareholders were RMB0.20 (US$0.03) and RMB0.20 (US$0.03), respectively, compared with basic and diluted earnings per ADS attributable to ordinary shareholders of RMB0.18 and RMB0.18, respectively, in the same period of 2023.

Cash and Cash Equivalents, Restricted Cash and Term Deposits, Term Deposits and Short-Term Investments

As of September 30, 2024, cash and cash equivalents, restricted cash and term deposits, term deposits and short-term investments were RMB1,252.6 million (US$178.5 million), compared with RMB1,341.6 million as of December 31, 2023.

Business Outlook

For the fourth quarter of 2024, So-Young expects total revenues to be between RMB350.0 million (US$49.9 million) and RMB370.0 million (US$52.7 million), representing a 10.4% to 5.3% decrease from the same period in 2023. The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, as well as customer demand, which are all subject to change.

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principles in the United States, or GAAP, this press release presents non-GAAP income/(loss) from operations and non-GAAP net income attributable to So-Young International Inc. by excluding share-based compensation expenses from income/(loss) from operations and net income attributable to So-Young International Inc., respectively. The Company believes these non-GAAP financial measures are important to help investors understand the Company’s operating and financial performance, compare business trends among different reporting periods on a consistent basis and assess the Company’s core operating results, as they exclude certain expenses that are not expected to result in cash payments. The use of the above non-GAAP financial measures has certain limitations. Share-based compensation expenses have been and will continue to be incurred in the future. All these are not reflected in the presentation of the non-GAAP financial measures, but should be considered in the overall evaluation of the Company’s results. The Company compensates for these limitations by providing the relevant disclosure of its share-based compensation expenses in the reconciliations to the most directly comparable GAAP financial measures, which should be considered when evaluating the Company’s performance. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure is set forth at the end of this release.

Conference Call Information

So-Young’s management will hold an earnings conference call on Wednesday, November 20, 2024, at 7:00 AM U.S. Eastern Time (8:00 PM on the same day, Beijing/Hong Kong Time). Dial-in details for the earnings conference call are as follows:

International:

+1-412-902-4272

Mainland China: 

4001-201203

US:

+1-888-346-8982

Hong Kong:

+852-301-84992

Passcode: 

So-Young International Inc.

A telephone replay will be available two hours after the conclusion of the conference call through 23:59 U.S. Eastern Time, November 27, 2024. The dial-in details are:

International: 

+1-412-317-0088

US:

+1-877-344-7529

Passcode:

2642052

Additionally, a live and archived webcast of this conference call will be available at http://ir.soyoung.com.

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. Among other things, the Financial Guidance and quotations from management in this announcement, as well as So-Young’s strategic and operational plans, contain forward-looking 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 oral 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, including but not limited to the following: So-Young’s strategies; So-Young’s future business development, financial condition and results of operations; So-Young’s ability to retain and increase the number of users and medical service providers, and expand its service offerings; competition in the online medical aesthetic service industry; changes in So-Young’s revenues, costs or expenditures; Chinese governmental policies and regulations relating to the online medical aesthetic service industry, general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. 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 and in the attachments 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 more information, 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 

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands, except for share and per share data)

As of

December 31,

September 30,

September 30,

2023

2024

2024

RMB

RMB

US$

Assets

Current assets:

Cash and cash equivalents

426,119

467,407

66,605

Restricted cash and term deposits

14,695

104,198

14,848

Trade receivables

57,219

106,943

15,239

Inventories

118,924

145,601

20,748

Receivables from online payment platforms

23,158

31,666

4,512

Amounts due from related parties

9,212

10,466

1,491

Term deposits and short-term investments

900,823

681,035

97,047

Prepayment and other current assets

171,774

221,227

31,525

Total current assets

1,721,924

1,768,543

252,015

Non-current assets:

Long-term investments

261,016

287,507

40,969

Intangible assets

145,253

131,641

18,759

Goodwill

540,693

540,693

77,048

Property and equipment, net

116,782

154,572

22,026

Deferred tax assets

78,034

81,057

11,551

Operating lease right-of-use assets

118,408

159,179

22,683

Other non-current assets

232,455

180,628

25,739

Total non-current assets

1,492,641

1,535,277

218,775

Total assets

3,214,565

3,303,820

470,790

Liabilities

Current liabilities:

Short-term borrowings

29,825

89,559

12,762

Taxes payable

56,894

53,639

7,643

Contract liabilities

103,374

94,747

13,501

Salary and welfare payables

86,290

84,927

12,102

Amounts due to related parties

388

146

21

Accrued expenses and other current liabilities

233,913

244,721

34,873

Operating lease liabilities-current

29,739

40,398

5,757

Total current liabilities

540,423

608,137

86,659

Non-current liabilities:

Operating lease liabilities-non current

86,210

124,915

17,800

Deferred tax liabilities

25,082

20,780

2,961

Other non-current liabilities

1,536

1,607

229

Total non-current liabilities

112,828

147,302

20,990

Total liabilities

653,251

755,439

107,649

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)

(Amounts in thousands, except for share and per share data)

Shareholders’ equity:

Treasury stock

(358,453)

(369,907)

(52,711)

Class A ordinary shares (US$0.0005 par value; 750,000,000
     shares authorized as of December 31, 2023 and September
     30, 2024; 73,688,044 and 63,422,436 shares issued and
     outstanding as of December 31, 2023, 77,634,580 and
     66,170,882 shares issued and outstanding as of September
     30, 2024, respectively)

238

252

36

Class B ordinary shares (US$ 0.0005 par value; 20,000,000
     shares authorized as of December 31, 2023 and September
     30, 2024; 12,000,000 shares issued and outstanding as of
     December 31, 2023 and September 30, 2024)

37

37

5

Additional paid-in capital

3,080,433

3,067,567

437,125

Statutory reserves

33,855

33,855

4,824

Accumulated deficit

(330,166)

(312,117)

(44,476)

Accumulated other comprehensive income

18,185

8,858

1,262

Total So-Young International Inc. shareholders’ equity

2,444,129

2,428,545

346,065

Non-controlling interests

117,185

119,836

17,076

Total shareholders’ equity

2,561,314

2,548,381

363,141

Total liabilities and shareholders’ equity

3,214,565

3,303,820

470,790

 

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Amounts in thousands, except for share and per share data) 

For the Three Months Ended

For the Nine Months Ended

September 
30, 2023

September
30, 2024

September
30, 2024

September
30, 2023

September
30, 2024

September
30, 2024

RMB

RMB

US$

RMB

RMB

US$

Revenues:

Information services and others

285,937

262,988

37,475

795,100

750,952

107,010

Reservation services

24,140

19,567

2,788

80,724

64,987

9,261

Sales of medical products and maintenance services

75,217

89,270

12,721

231,639

281,548

40,120

Total revenues

385,294

371,825

52,984

1,107,463

1,097,487

156,391

Cost of revenues:

Cost of services and others

(103,484)

(98,620)

(14,053)

(291,503)

(274,695)

(39,144)

Cost of medical products sold and maintenance services

(39,119)

(43,548)

(6,206)

(115,199)

(139,839)

(19,927)

Total cost of revenues

(142,603)

(142,168)

(20,259)

(406,702)

(414,534)

(59,071)

Gross profit

242,691

229,657

32,725

700,761

682,953

97,320

Operating expenses:

Sales and marketing expenses

(143,844)

(114,884)

(16,371)

(394,276)

(360,448)

(51,363)

General and administrative expenses

(50,242)

(69,901)

(9,961)

(204,097)

(225,653)

(32,155)

Research and development expenses

(50,597)

(40,188)

(5,727)

(158,531)

(122,277)

(17,424)

Total operating expenses

(244,683)

(224,973)

(32,059)

(756,904)

(708,378)

(100,942)

(Loss)/Income from operations

(1,992)

4,684

666

(56,143)

(25,425)

(3,622)

Other income/(expenses):

Investment income, net

647

510

73

10,869

3,397

484

Interest income, net

12,130

14,239

2,029

38,023

38,270

5,453

Exchange gains/(losses)

103

465

66

(1,051)

875

125

Share of losses of equity method investee

(3,822)

(3,873)

(552)

(10,692)

(11,602)

(1,653)

Others, net

9,887

6,915

985

18,474

12,234

1,743

Income/(Loss) before tax

16,953

22,940

3,267

(520)

17,749

2,530

Income tax benefits/(expenses)

2,191

(2,097)

(299)

7,240

3,031

432

Net income

19,144

20,843

2,968

6,720

20,780

2,962

Net income attributable to noncontrolling interests

(839)

(495)

(71)

(2,941)

(2,731)

(389)

Net income attributable to So-Young International Inc.

18,305

20,348

2,897

3,779

18,049

2,573

 

SO-YOUNG INTERNATIONAL INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September
30, 2024

September
30, 2024

September
30, 2023

September
30, 2024

September
30, 2024

RMB

RMB

US$

RMB

RMB

US$

Net earnings per ordinary share

Net earnings per ordinary share attributable to ordinary shareholder – basic

0.24

0.26

0.04

0.05

0.23

0.03

Net earnings per ordinary share attributable to ordinary shareholder – diluted

0.24

0.26

0.04

0.05

0.23

0.03

Net earnings per ADS attributable to ordinary shareholders – basic (13 ADS
     represents 10 Class A ordinary shares)

0.18

0.20

0.03

0.04

0.18

0.03

Net earnings per ADS attributable to ordinary shareholders – diluted (13 ADS
     represents 10 Class A ordinary shares)

0.18

0.20

0.03

0.04

0.18

0.03

Weighted average number of ordinary shares used in computing earnings/(loss)
     per share, basic*

76,842,709

79,493,819

79,493,819

78,001,149

79,544,066

79,544,066

Weighted average number of ordinary shares used in computing earnings/(loss)
     per share, diluted*

77,210,781

79,708,518

79,708,518

78,402,636

79,810,666

79,810,666

Share-based compensation expenses included in:

Cost of services and others

(418)

(81)

(12)

(1,635)

(255)

(36)

Sales and marketing expenses

(533)

(183)

(26)

(2,850)

(420)

(60)

General and administrative expenses

11,164

(1,328)

(189)

(10,400)

(27,796)

(3,961)

Research and development expenses

(1,454)

(309)

(44)

(3,636)

(1,969)

(281)

* Both Class A and Class B ordinary shares are included in the calculation of the weighted average number of ordinary shares outstanding, basic and diluted.

 

SO-YOUNG INTERNATIONAL INC.

Reconciliation of GAAP and Non-GAAP Results

(Amounts in thousands, except for share and per share data)

For the Three Months Ended

For the Nine Months Ended

September
30, 2023

September 
30, 2024

September
30, 2024

September
30, 2023

September
30, 2024

September
30, 2024

RMB

RMB

US$

RMB

RMB

US$

GAAP (loss)/income from operations

(1,992)

4,684

666

(56,143)

(25,425)

(3,622)

Add back: Share-based compensation expenses

(8,759)

1,901

271

18,521

30,440

4,338

Non-GAAP (loss)/income from operations

(10,751)

6,585

937

(37,622)

5,015

716

GAAP net income attributable to So-Young International Inc.

18,305

20,348

2,897

3,779

18,049

2,573

Add back: Share-based compensation expenses

(8,759)

1,901

271

18,521

30,440

4,338

Non-GAAP net income attributable to So-Young International Inc.

9,546

22,249

3,168

22,300

48,489

6,911

 

 

View original content:https://www.prnewswire.com/news-releases/so-young-reports-unaudited-third-quarter-2024-financial-results-302311180.html

SOURCE So-Young International Inc.

Continue Reading

Technology

Cynerio Recognized As Top 100 Healthcare Technology Companies of 2024 by The Healthcare Technology Report

Published

5 minutes ago

on

November 20, 2024

By

LONDON, Nov. 20, 2024 /PRNewswire/ — Cynerio, a leading innovator in healthcare cybersecurity, today announced its recognition among The Healthcare Technology Report’s Top 100 Healthcare Technology Companies for 2024. This distinction highlights Cynerio’s pivotal advancements this year, from its breakthrough innovations in generative AI-driven security to the industry’s first healthcare-specific Network Detection and Response (NDR) solution, positioning Cynerio as the benchmark for effective cybersecurity in healthcare.

2024 has been a transformative year for Cynerio. Amid a rise in healthcare-targeted cyberattacks — now affecting U.S. hospitals at an unprecedented rate of every 7.1 minutes — Cynerio has proactively responded with innovations that prioritize healthcare’s unique security needs. By expanding its solutions beyond medical device security to encompass the entire clinical network, Cynerio has provided healthcare organizations with comprehensive, actionable defenses that protect against ransomware, ensure regulatory compliance, and deliver unmatched visibility into connected device risks.

“Being named to The Healthcare Technology Report’s Top 100 list reflects the tremendous strides Cynerio has made this year,” said Leon Lerman, CEO and Co-Founder of Cynerio. “Our goal has always been to anticipate and outpace the cybersecurity challenges healthcare faces, and this year we’ve not only expanded our geographic footprint but also reshaped what’s possible in healthcare security with new generative AI capabilities and NDR technology specifically tailored to this sector. We’re honored by this recognition, and even more energized to continue our mission in 2025, helping healthcare providers around the world navigate the rising tide of cyber threats.”

This year’s achievements solidify Cynerio’s reputation as the “first mover” in critical healthcare cybersecurity technologies. By integrating generative AI into its platform, Cynerio enables real-time threat detection, rapid incident response, and cross-customer benchmarking — all with the scalability to support healthcare providers worldwide. Cynerio’s cloud-based capabilities and deep focus on healthcare-specific vulnerabilities have resonated with hospitals and healthcare systems globally, driving the company’s footprint across the U.S., Europe, and new regions in 2024.

With the new year on the horizon, Cynerio remains committed to driving the next wave of cybersecurity in healthcare, ensuring that every healthcare facility, regardless of size, has access to innovative tools to combat cyber threats. Looking to 2025, Cynerio plans to build on its platform with additional AI-driven insights, new strategic partnerships, and expanded coverage, empowering healthcare providers to face rising challenges and secure their digital future with confidence.

About Cynerio:

Cynerio’s Healthcare Cybersecurity Platform is tailored to safeguard medical environments against constantly evolving threats. From real-time detection of malicious network activity to strategic micro-segmentation guidance, Cynerio delivers a suite of proactive and reactive protections that elevate the security of healthcare facilities and ensure the safety of patients. For more information visit www.cynerio.com.

Media Contact:
Name: Vicki Michaeli
Email: vicki@cynerio.com

Logo – https://mma.prnewswire.com/media/1876294/Cynerio_Logo_Logov1.jpg

View original content:https://www.prnewswire.co.uk/news-releases/cynerio-recognized-as-top-100-healthcare-technology-companies-of-2024-by-the-healthcare-technology-report-302306199.html

Continue Reading

Technology

ODAIA Announces Voice AI for Biopharma to Advance Healthcare Professional Engagement

Published

5 minutes ago

on

November 20, 2024

By

New ODAIA Voice Assistant will allow sales reps to access AI-driven insights in real time using voice commands on mobile devices

BOSTON, Nov. 20, 2024 /PRNewswire/ — ODAIA today announced a new voice AI assistant for biopharma sales teams. ODAIA Voice Assistant will help reps access relevant and accurate AI-driven insights in real time by speaking into their mobile device. Now reps can quickly find healthcare professional (HCP) information on the go, enhance pre-call planning, and get personalized recommendations about which physicians to engage next—all through voice commands instead of typing or clicking.

Sales reps juggle multiple tools to gather insights, including CRM for engagement history, dashboards for prescription and patient information, and business intelligence systems for market analysis. This fragmented workflow slows the last mile of field execution. While some companies now use AI chatbots with their raw data to find information, these tools often deliver inaccurate, incomplete, and unreliable insights that reps can’t act on.

ODAIA solves these limitations with voice AI that goes beyond just raw data. ODAIA’s advanced AI engines generate intelligence on HCP and patient behavior changes, untapped market trends and opportunities, and sales team performance. Large language models (LLMs) then translate these insights into clear, actionable stories that sales reps can easily understand and quickly access with Voice Assistant.

“Voice-first technology will become standard in life sciences”, said Philip Poulidis, CEO at ODAIA. “What makes voice AI valuable is the intelligence it can tap into, not the raw data. With ODAIA Voice Assistant, we’re not just addressing the challenges commercial teams face today but setting the foundation for future voice-first interfaces that transform how sales reps engage with data, make decisions, and deliver meaningful outcomes for providers and patients.”

Speaking is three times faster than typing and more accurate.1 But most generic AI chatbots and standard GenAI tools slow users down and frustrate them because of the technology’s failed attempts to make sense of raw data and its need for precise phrasing and repeated corrections. Voice Assistant solves this problem with voice AI technology purpose-built for biopharma, delivering accurate and relevant insights through natural conversations.

Voice Assistant is powered by MAPTUAL, ODAIA’s proprietary platform of AI engines specifically designed for the biopharma industry. MAPTUAL uses a modular approach to analyze complex datasets and provide real-time insights into a physician’s changing behaviors, prescribing trends, and potential brand impact. Voice Assistant taps into these insights and uses GenAI to go beyond surface-level responses and dynamically adapt during conversations, offering personalized, relevant guidance that enhances HCP engagement.

ODAIA Voice Assistant is expected to be available for early adopters in the second quarter of 2025. To learn how to be an early adopter, visit: www.odaia.ai/voice-assistant.

Also, see how ODAIA Voice Assistant will enable the biopharma industry’s shift to voice AI at our Innovation Theater Session during Veeva Commercial Summit Europe on Nov. 21 at 10:00 a.m. CET. CEO Philip Poulidis will demonstrate how to plan daily schedules, personalize interactions with HCPs, and make informed decisions using ODAIA integrated with Veeva Vault CRM. To meet with ODAIA, book a meeting here.

About ODAIA
ODAIA is the leading AI company helping life sciences companies innovate their commercial strategies using Customer Science. The company’s cloud solution, MAPTUAL, integrates data science, behavioral science, and AI to gain a deep understanding of healthcare professionals (HCPs) and their patient decisions across the entire customer journey. To learn more about ODAIA, visit our website or follow us on LinkedIn.

1 https://faculty.washington.edu/wobbrock/pubs/ubicomp-17.pdf

View original content to download multimedia:https://www.prnewswire.com/news-releases/odaia-announces-voice-ai-for-biopharma-to-advance-healthcare-professional-engagement-302310954.html

SOURCE ODAIA

Continue Reading

Trending