SEC FORM 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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

100012

(City)

(State)

(Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

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

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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A ordinary share, par value US$0.01 ⁽¹⁾	06/10/2026		M		30,260 ⁽²⁾	A	$ 0.01	141,940	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option (right to buy)	$ 0.01	06/10/2026		M			12,824	⁽³⁾	10/31/2032	Class A ordinary share, par value US$0.01	12,824	$ 0.01	0 ⁽³⁾	D
Option (right to buy)	$ 0.01	06/10/2026		M			12,821	⁽⁴⁾	10/31/2032	Class A ordinary share, par value US$0.01	12,821	$ 0.01	0 ⁽⁴⁾	D
Option (right to buy)	$ 0.01	06/10/2026		M			769	⁽⁵⁾	05/26/2032	Class A ordinary share, par value US$0.01	769	$ 0.01	0 ⁽⁵⁾	D
Option (right to buy)	$ 0.01	06/10/2026		M			641	⁽⁶⁾	10/31/2032	Class A ordinary share, par value US$0.01	641	$ 0.01	0 ⁽⁶⁾	D
Option (right to buy)	$ 0.01	06/10/2026		M			3,205	⁽⁷⁾	12/31/2035	Class A ordinary share, par value US$0.01	3,205	$ 0.01	35,261 ⁽⁷⁾	D

Explanation of Responses:

1. The Class A ordinary shares are held in the form of American depositary shares ("ADS"), 13 of which represent 10 class A ordinary shares of the issuer.

2. Represent 30,260 Class A ordinary shares of the issuer received in the form of ADSs upon exercising of the 30,260 share options by the reporting person on June 10, 2026.

3. The reporting person was granted 12,824 share options on November 1, 2022, which fully vested in four installments of 3,205, 3,205, 3,205 and 3,209 on January 1, 2025, April 1, 2025, July 1, 2025 and October 1, 2025, respectively.

4. The reporting person was granted 12,821 performance-based share options on November 1, 2022, which fully vested in two installments of 6,410 on April 1, 2025 and 6,411 on October 1, 2025.

5. The reporting person was granted 769 share options on May 27, 2021, which vested in full on April 1, 2025.

6. The reporting person was granted 641 performance-based share options, which vested in full on April 1, 2025.

7. The reporting person was granted 38,466 share options on January 1, 2026, vesting in 12 quarterly installments, with 3,205 vesting in each of the first 11 installments and 3,211 shares vesting in the final installment on January 1, 2029.

	/s/Bei Wang	06/11/2026
	** Signature of Reporting Person	Date
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