Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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 * Li Gefei 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) COO (Last) (First) (Middle) 2/F, EAST TOWER, POLY PLAZA,, NO. 66 XIANGBIN ROAD, CHAOYANG DISTRICT 3. Date of Earliest Transaction (Month/Day/Year) 03/31/2026 (Street) BEIJING 100012 4. If Amendment, Date 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 (City) (State) (Zip) 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) Code V Amount (A) or (D) Price Class A ordinary share, par value US$0.01(1) 03/31/2026 M 46,153(2) A $0.01 46,153 D

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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (right to buy)

$0.01

03/31/2026

M

38,461

(3)

08/14/2034

Class A ordinary share, par value US$0.01

38,461

$0.01

19,234(3)

D

Option (right to buy)

$0.01

03/31/2026

M

7,692

(4)

08/14/2034

Class A ordinary share, par value US$0.01

7,692

$0.01

21,154(4)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Li Gefei 2/F, EAST TOWER, POLY PLAZA, NO. 66 XIANGBIN ROAD, CHAOYANG DISTRICT BEIJING 100012	X		COO

Signatures

/s/Gefei Li		04/02/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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).
(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 46,153 Class A ordinary shares of the issuer received in the form of ADSs upon exercising of the 46,153 share options by the reporting person on March 31, 2026.
(3)	The reporting person was granted 57,695 share options on August 15, 2024, vesting in nine installments: 19,231 on February 1, 2025, followed by eight equal installments of 4,808 every three months thereafter until February 1, 2027.
(4)	The reporting person was granted 28,846 share options on August 15, 2024. The option has fully vested in two installments of 19,231 on February 1, 2025 and 9,615 on August 1, 2025.

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