So-Young International (SY) CMO reports ADS and option holdings

Rhea-AI Filing Summary

So-Young International Inc. director and CMO Wang Bei filed an initial Form 3 detailing existing holdings in the company. The filing shows direct ownership of 145,185 American Depositary Shares.

Wang Bei also holds multiple stock options over Class A ordinary shares with an exercise price of $0.0100 per share, vesting in tranches and expiring between 2032 and 2035. The Form 3 is a disclosure of current positions and does not report any new purchases or sales.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Wang Bei

(Last) (First) (Middle)

2/F, EAST TOWER, POLY PLAZA,

NO. 66 XIANGBIN ROAD, CHAOYANG DISTRICT

(Street)

BEIJING F4 100012

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
So-Young International Inc. [ SY ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CMO

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
American Depositary Share(1)	145,185	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option (right to buy)	01/01/2025	10/31/2032	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	04/01/2025	10/31/2032	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	07/01/2025	10/31/2032	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	10/01/2025	10/31/2032	Class A Ordinary Share	3,211	$0.01	D
Option (right to buy)	04/01/2025	10/31/2032	Class A Ordinary Share	6,410	$0.01	D
Option (right to buy)	10/01/2025	10/31/2032	Class A Ordinary Share	6,412	$0.01	D
Option (right to buy)	04/01/2025	05/26/2032	Class A Ordinary Share	769	$0.01	D
Option (right to buy)	04/01/2025	10/31/2032	Class A Ordinary Share	641	$0.01	D
Option (right to buy)	04/01/2026	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	07/01/2026	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	10/01/2026	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	01/01/2027	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	04/01/2027	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	07/01/2027	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	10/01/2027	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	01/01/2028	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	04/01/2028	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	07/01/2028	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	10/01/2028	12/31/2035	Class A Ordinary Share	3,205	$0.01	D
Option (right to buy)	01/01/2029	12/31/2035	Class A Ordinary Share	3,211	$0.01	D

Explanation of Responses:

1. "American Depositary Share" refers to the issuer's American depositary share, 13 of which represent 10 class A ordinary shares of the issuer.

	/s/ Bei Wang	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Wang Bei’s Form 3 filing for So-Young (SY) show?

The Form 3 shows Wang Bei’s existing holdings in So-Young, including 145,185 American Depositary Shares and multiple low‑exercise‑price stock options over Class A ordinary shares, expiring between 2032 and 2035. It is a disclosure of current ownership, not a trade report.

How many So-Young (SY) American Depositary Shares does Wang Bei hold?

Wang Bei directly holds 145,185 American Depositary Shares of So-Young International Inc. This position is reported as part of the initial Form 3 filing, which establishes baseline beneficial ownership as a director and chief marketing officer of the company.

What stock options over So-Young (SY) shares are reported in this Form 3?

The filing lists multiple options to acquire Class A ordinary shares at an exercise price of $0.0100 per share, vesting in various tranches and expiring between 2032 and 2035. These options represent long-dated equity incentives held directly by Wang Bei.

Does Wang Bei’s So-Young (SY) Form 3 indicate any stock purchases or sales?

No, the Form 3 does not indicate any stock purchases or sales. It records existing ownership of American Depositary Shares and stock options as of the reporting date, serving as an initial statement of beneficial ownership for Wang Bei at So-Young.

How are So-Young (SY) American Depositary Shares related to Class A ordinary shares?

The filing notes that each American Depositary Share represents a fraction of So-Young’s Class A ordinary shares, with 13 ADS corresponding to 10 Class A ordinary shares. This ratio explains how ADS holdings relate to the company’s underlying ordinary share capital.