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Filing Details

Accession Number:: 0001653246-20-000009
Form Type:: 13D Filing
Publication Date:: 2020-08-31 07:47:24

Filed By:: Areo Holdings Ltd
Company:: So-Young International Inc. (NASDAQ:SY)
Filing Date:: 2020-08-31
SEC Url:: 13D Filing

Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name	Sole Voting Power	Shared Voting Power	Sole Dispositive Power	Shared Dispositive Power	Aggregate Amount Owned Power	Percent of Class
Absolute Fortune Limited	0	2,616,027	0	2,616,027	2,616,027	2.88%
Orchid Asia VI	0	2,485,226	0	2,485,226	2,485,226	2.73%
Orchid Asia V Co-Investment, Limited	0	130,801	0	130,801	130,801	0.14%
OAVI Holdings	0	2,485,226	0	2,485,226	2,485,226	2.73%
Orchid Asia VI GP, Limited	0	2,485,226	0	2,485,226	2,485,226	2.73%
Golden Horizon Limited	0	4,029,756	0	4,029,756	4,029,756	4.43%
Orchid Asia VII	0	10,457,540	0	10,457,540	10,457,540	11.50%
Orchid Asia VII Co-Investment, Limited	0	766,927	0	766,927	766,927	0.84%
OAVII Holdings	0	10,457,540	0	10,457,540	10,457,540	11.50%
Orchid Asia VII GP, Limited	0	10,457,540	0	10,457,540	10,457,540	11.50%
Orchid Asia V Group Management, Limited	0	12,942,766	0	12,942,766	12,942,766	14.23%
Orchid Asia V Group, Limited	0	12,942,766	0	12,942,766	12,942,766	14.23%
AREO Holdings Limited	0	13,840,494	0	13,840,494	13,840,494	15.22%
Ms. Lam Lai Ming	0	13,840,494	0	13,840,494	13,840,494	15.22%
Date of Transaction Quantity Price ( ) Orchid Asia VII

Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No.8)*

So-Young International Inc.

(Name of Issuer)

Class A Ordinary Shares, $0.0005 par value per share**

American Depositary Shares

(Title of Class of Securities)

83356Q108

(CUSIP Number)

c/o Suite 2901, 29th Floor, the Center

99 Queen's Road Central, Central, Hong Kong

Attention: Ms. Lam Lai Ming

Telephone: +852 2115 8810

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

August 31, 2020

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 240.13d-7 for other parties to whom copies are to be sent.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

2,616,027 ADS

Shared dispositive power

2,616,027 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

* Calculated using the number of outstanding Class A ordinary shares of 69,962,924 as reported to be outstanding in the Issuer's Form 6-K filed with the Securities Exchange Commission on August 27, 2020. 13 American depositary shares represent 10 Class A ordinary shares.

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

2,485,226 ADS

Shared dispositive power

2,485,226 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

130,801 ADS

Shared dispositive power

130,801 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

2,485,226 ADS

Shared dispositive power

2,485,226 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

2,485,226 ADS

Shared dispositive power

2,485,226 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

4,029,756 ADS

Shared dispositive power

4,029,756 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

10,457,540 ADS

Shared dispositive power

10,457,540 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

766,927 ADS

Shared dispositive power

766,927 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

10,457,540 ADS

Shared dispositive power

10,457,540 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

10,457,540 ADS

Shared dispositive power

10,457,540 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

12,942,766 ADS

Shared dispositive power

12,942,766 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Cayman Islands

Shared voting power

12,942,766 ADS

Shared dispositive power

12,942,766 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

British Virgin Islands

Shared voting power

13,840,494 ADS

Shared dispositive power

13,840,494 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

Check the appropriate box if a member of a group

(a) ☐ (b) ☐

Citizenship or place of organization

Hong Kong

Shared voting power

13,840,494 ADS

Shared dispositive power

13,840,494 ADS

Check box if the aggregate amount in Row (11) excludes certain shares (see instructions)

☐

Type of reporting person (see instructions)

This statement constitutes Amendment No.8 to the Schedule 13D relating to the Class A ordinary shares, par value of $0.0005 per share, of So-Young International Inc. (the "Issuer"), and hereby amends the Schedule 13D filed with the Securities and Exchange Commission on November 1, 2019 (as previously amended, the "Statement") to furnish the additional information set forth herein. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Statement.

Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Item 3 of the Statement is hereby amended and replaced entirely as follows:

From August 30, 2019 to August 31, 2020, Orchid Asia VII, L.P. and Orchid Asia VII Co-Investment, Limited respectively purchased 6,709,866 and 484,845 American Depositary Shares ("ADS"), 13 of which represent 10 Class A ordinary shares of the Issuer. A total of US$82,901,258.29 was paid to acquire the ADS.

Orchid Asia VII, L.P. and Orchid Asia VII Co-Investment, Limited purchased the ADS using the cash on hand.

Item 5. INTEREST IN SECURITIES OF THE ISSUER

Items 5(a) of the Statement is hereby amended and restated as follows:

(a) Each of the Reporting Persons' current ownership in the securities of the Issuer is set forth on the cover pages to this Statement and is incorporated by reference herein. The ownership percentage appearing on such pages has been calculated based on 69,962,924 Class A ordinary shares outstanding as of June 30, 2020, reported to be outstanding in the Issuer's Form 6-K filed with the Securities Exchange Commission on August 27, 2020. 13 ADS represent 10 Class A ordinary shares.

Absolute Fortune Limited beneficially owns Class A ordinary shares/ADS that are equivalent to 2,616,027 ADS, which represents approximately 2.88% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Orchid Asia VI, L.P. may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 2,485,226 ADS, which represents approximately 2.73% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Orchid Asia V Co-Investment, Limited may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 130,801 ADS, which represents approximately 0.14% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

OAVI Holdings, L.P. may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 2,485,226 ADS, which represents approximately 2.73% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Orchid Asia VI GP, Limited may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 2,485,226 ADS, which represents approximately 2.73% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Golden Horizon Limited beneficially owns Class A ordinary shares/ADS that are equivalent to 4,029,756 ADS, which represents approximately 4.43% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Orchid Asia VII, L.P. beneficially owns Class A ordinary shares/ADS that are equivalent to 6,709,866 ADS and may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 3,747,674 ADS, which represents approximately 11.50% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Orchid Asia VII Co-Investment Limited beneficially owns Class A ordinary shares/ADS that are equivalent to 484,845 ADS and may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 282,082 ADS, which represents approximately 0.84% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

OAVII Holdings, L.P. may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 10,457,540 ADS, which represents approximately 11.50% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Orchid Asia VII GP, Limited may be deemed to beneficially own Class A ordinary shares/ADS that are equivalent to 10,457,540 ADS, which represents approximately 11.50% of the Issuer's outstanding shares calculated in accordance with the requirements of Rule 13d-3 under the Act.

Each of Orchid Asia V Group Management, Limited and Orchid Asia V Group, Limited may be deemed to own an aggregate of Class A ordinary shares/ADS that are equivalent to 12,942,766 ADS, which constitutes approximately 14.23% of the Issuer's outstanding shares, calculated in accordance with Rule 13d-3 under the Act.

Each of AREO Holdings Limited and Ms. Lam Lai Ming may be deemed to beneficially own an aggregate of Class A ordinary shares/ADS that are equivalent to 13,840,494 ADS, which constitutes approximately 15.22% of the Issuer's outstanding shares, calculated in accordance with Rule 13d-3 under the Act.

Items 5(c) of the Statement is hereby amended and restated as follows:

(c) The following table sets forth all transactions with respect to ADS effected during the past sixty (60) days by any of the Reporting Persons. Except as otherwise noted below, all such transactions were purchases of ADS effected in the open market.

Name of Reporting Person	Date of Transaction	Quantity	Price ($)
Orchid Asia VII, L.P.	01/02/2020	121,757	12.17
Orchid Asia VII, L.P.	01/10/2020	70,000	13.97
Orchid Asia VII, L.P.	01/14/2020	3,600	14.16
Orchid Asia VII, L.P.	01/15/2020	35,000	14.19
Orchid Asia VII, L.P.	01/21/2020	31,430	14.20
Orchid Asia VII, L.P.	01/23/2020	51,710	13.78
Orchid Asia VII, L.P.	01/27/2020	19,072	12.65
Orchid Asia VII, L.P.	01/30/2020	15,586	12.40
Orchid Asia VII, L.P.	02/04/2020	84,126	12.93
Orchid Asia VII, L.P.	02/05/2020	30,700	12.90
Orchid Asia VII, L.P.	02/06/2020	7,557	13.14
Orchid Asia VII, L.P.	02/10/2020	25,701	12.77
Orchid Asia VII, L.P.	02/11/2020	370,000	13.46
Orchid Asia VII, L.P.	02/12/2020	24,532	13.34
Orchid Asia VII, L.P.	02/14/2020	400	13.30
Orchid Asia VII, L.P.	02/19/2020	27,000	12.99
Orchid Asia VII, L.P.	04/09/2020	300,000	10.17
Orchid Asia VII, L.P.	04/13/2020	90,464	10.14
Orchid Asia VII, L.P.	04/14/2020	1,200	10.50
Orchid Asia VII, L.P.	04/15/2020	10,000	10.30
Orchid Asia VII, L.P.	04/17/2020	111,699	10.74
Orchid Asia VII, L.P.	04/21/2020	115,000	10.13
Orchid Asia VII, L.P.	04/22/2020	5,000	10.30
Orchid Asia VII, L.P.	04/23/2020	60,000	10.15
Orchid Asia VII, L.P.	04/24/2020	3,400	10.00
Orchid Asia VII, L.P.	05/01/2020	220,700	10.00
Orchid Asia VII, L.P.	05/13/2020	5,000	9.99
Orchid Asia VII, L.P.	06/02/2020	100,000	9.85

Orchid Asia VII Co-Investment, Limited	01/02/2020	8,400	12.16
Orchid Asia VII Co-Investment, Limited	01/10/2020	5,200	13.97
Orchid Asia VII Co-Investment, Limited	01/14/2020	34	14.20
Orchid Asia VII Co-Investment, Limited	01/15/2020	2,200	14.18
Orchid Asia VII Co-Investment, Limited	01/21/2020	2,240	14.20
Orchid Asia VII Co-Investment, Limited	01/23/2020	3,192	13.79
Orchid Asia VII Co-Investment, Limited	01/27/2020	1,800	12.65
Orchid Asia VII Co-Investment, Limited	01/30/2020	1,000	12.40
Orchid Asia VII Co-Investment, Limited	02/04/2020	6,562	12.93
Orchid Asia VII Co-Investment, Limited	02/05/2020	2,217	12.90
Orchid Asia VII Co-Investment, Limited	02/10/2020	1,100	12.76
Orchid Asia VII Co-Investment, Limited	02/11/2020	27,000	13.45
Orchid Asia VII Co-Investment, Limited	02/12/2020	1,600	13.34
Orchid Asia VII Co-Investment, Limited	02/19/2020	2,400	12.98
Orchid Asia VII Co-Investment, Limited	04/09/2020	22,500	10.17
Orchid Asia VII Co-Investment, Limited	04/13/2020	6,000	10.15
Orchid Asia VII Co-Investment, Limited	04/15/2020	750	10.30
Orchid Asia VII Co-Investment, Limited	04/17/2020	8,250	10.72
Orchid Asia VII Co-Investment, Limited	04/21/2020	8,625	10.12
Orchid Asia VII Co-Investment, Limited	04/22/2020	375	10.30
Orchid Asia VII Co-Investment, Limited	04/23/2020	4,125	10.14
Orchid Asia VII Co-Investment, Limited	05/01/2020	16,500	10.00
Orchid Asia VII Co-Investment, Limited	06/02/2020	7,500	9.87

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: August 31, 2020

Name: Gabriel Li Title: Authorized Representative Name: Gabriel Li Title: Authorized Representative Orchid Asia V Co-Investment, Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative OAVI Holdings, L.P.

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Orchid Asia VI GP, Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Golden Horizon Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Orchid Asia VII, L.P.

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Orchid Asia VII Co-Investment, Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative OAVII Holdings, L.P.

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Orchid Asia VII GP, Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Orchid Asia V Group Management, Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Orchid Asia V Group, Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative AREO Holdings Limited

/s/ Gabriel Li

Name: Gabriel Li Title: Authorized Representative Lam Lai Ming

/s/ Lam Lai Ming