A __new__ singleton still runs __init__

What does this print?

class Sing:
    _inst = None
    def __new__(cls, *args):
        if cls._inst is None:
            cls._inst = super().__new__(cls)
        return cls._inst
    def __init__(self, name):
        print("init", name, end=" ")
        self.name = name

s1 = Sing("a")
s2 = Sing("b")
print(s1 is s2, s1.name)