So-Young operates an online platform for medical aesthetics and consumption healthcare services in China. It listed on the NASDAQ in May 2019. The company was attacked by short-seller Blue Orca in May 2021 alleging that it was faking bookings and sales. Financial performance began to deteriorate in 2H21, prompting a halving of the share price. In November, the company's co-founder offered to take the company private but this failed to stem the share price decline. Although So-Young's share price has fallen more than 90% since the report's publication, there were no director and/or auditor resignations. As such, the fraud allegations remain unproven.
Last updated August 2022.
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