So-young announces receipt of withdrawal of buyer group's going private proposal

Beijing, oct. 21, 2022 (globe newswire) -- 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 that the special committee of the company's board of directors (the “board”) has received a letter from mr. xing jin, chairman of the board and chief executive officer of so-young (“mr. jin”), stating that mr. jin would withdraw the non-binding going private proposal (the “proposal”) dated november 22, 2021, with immediate effect. the letter stated that, having given due consideration to recent market conditions, mr. jin has determined not to proceed with the proposal. the board has approved to dissolve the special committee of the board.
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