So-Young International Inc. (NASDAQ:SY) Q4 2023 Earnings Conference Call March 20, 2024 7:30 AM ET
Company Participants
Vivian Xu - Investor Relations
Xing Jin - Co-Founder, Chairman & Chief Executive Officer
Hui Zhao - Chief Financial Officer
Conference Call Participants
Chloe Wei - CICC
Operator
Ladies and gentlemen, thank you for standing by for So-Young's Fourth Quarter and Full Year 2023 Earnings Conference Call. [Operator Instructions]
As a reminder, today's conference call is being recorded. I will now like to turn the meeting over to your host for today's call, Ms. Vivian XU. Please proceed, Ms. XU.
Vivian Xu
Thank you, operator and thank you, everyone, for joining So-Young's fourth quarter and full year 2023 earnings conference call. Joining today on the call is Mr. Xing Jin, our Co-Founder, Chairman and CEO; and Mr. Nick Zhao, CFO.
Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities and Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include but are not limited to those outlined in our public filings with the SEC, including our annual report on Form 20-F. So-Young does not undertake any obligation to update any forward-looking statements, except as required under applicable law.
At this time, I would like to turn the call over to Mr. Xing Jin.
Xing Jin
Hello, everyone. Thank you for joining the call today. Despite the challenging market conditions, our business remained resilient as the new ventures we are developing continue to demonstrate significant growth potential. Total revenues increased by 20% -- sorry, 20.1% year-over-year to RMB390.6 million during the quarter.
Our legacy business reflected in revenues from information services and others increased by 15.8%, while new business reflect in revenues from sales of medical products and maintenance services increased by 50.6% during the quarter. By carefully managing cost, we regained profitability with net income attributable to So-Young International Inc. of RMB31.3 million in 2023, a significant turnaround from net loss attributable to So-Young International Inc. of RMB65.6 million last year.
In many ways, last year presented even more challenged situation than the COVID-19 pandemic did. In this context, our financial results for the year are even more impressive and attachment to our students and adaptability in the face of evolving consumer behaviors and market practice.