Xing Jin, Chairman of the Board and Chief Executive Officer of So-Young International Inc. made an offer to acquire remaining 83.6% stake in So-Young International Inc. (NasdaqGM:SY) for approximately $470 million on November 22, 2021. As per the transaction, Xing Jin made an offer to acquire remaining shares at $6.89 per Share or $5.30 per ADS in cash. Every 13 ADSs represent 10 Class A ordinary shares of So-Young International Inc. Xing Jin intend to finance the transaction with a combination of debt and equity capital. Equity financing is expected to be provided in the form of rollover equity in the Company and cash contributions by Xing Jin. Xing Jin expect definitive commitments for the required financing, subject to terms and conditions set forth therein, to be in place when the Company enters into the Definitive Agreements. The Board has formed a special committee consisting of independent directors Messrs. Charles Zhaoxuan Yang, Chao He and Harry Jiannan Wang to evaluate and consider the transaction. Duff & Phelps, LLC acted as financial advisor and Gibson, Dunn & Crutcher LLP acted as legal advisor to the special committee of board of directors of So-Young International Inc.