Aesthetic Medical International Holdings Group Limited (Nasdaq:
AIH) (the “Company” or “AIH”), a leading provider of aesthetic
medical services in China, announced its unaudited financial
results for the first half ended June 30, 2022.
Dr. Zhou Pengwu, the Chairman and CEO of the
Company, commented, “Despite the continued impact of COVID-19
pandemic, we are pleased to announce the positive outcomes and
business progress during the period. Since late March, two of our
treatment centers in Shanghai temporarily suspended operations for
more than two months. Upon the business resumption, we saw a 138.8%
and 99.6% recovery in the number of customers and cash sales in
June respectively, compared with that in March before the lockdown
was in place. Overall, the Company recorded a steady business
growth, with revenue increased by 10.6% year-on-year (“yoy”), and a
narrowing net loss despite the business disruption in the Eastern
region.”
Dr. Zhou continued, “In terms of operation, we
are dedicated to strengthening our management system and enhancing
our services to become the choice of our customers. Over the past
few months, we have been working with an experienced consulting
team to establish our own customer relationship management (CRM)
system, which will be equipped with more comprehensive and precise
functions, along with standardized operation procedure (SOP) of
aesthetic medical treatments as well as staff training program. We
believe these measures would not only enhance our customer
experience, but more importantly, help us to improve our customer
retention rate, potential business replication capability and
hence, our profitability.
On July 14, 2022, we closed our first private
placement with Lafang China Co.,Ltd, which was previously announced
on May 31, 2022, after receiving aggregate gross proceeds of RMB100
million. On July 20, 2022, the Company entered into another
Subscription Agreement with Hainan Oriental Jiechuang Investment
Partnership (Limited Partnership) (“Jiechuang”), where
Jiechuang agreed to subscribe 36,402,570 newly issued ordinary
shares for the total consideration in USD which is equivalent
of RMB170 million. Both transactions are indicators of our
business value and recognition by the market. We believe these
would also improve our financial position going forward. In the
long run, we are committed to providing quality services and
products to customers, while delivering sustainable growth.”
First Half 2022 Financial
Highlights1
- Total revenue was RMB338.6 million
(USD50.6 million), an increase of 10.6% from RMB306.2 million in
the first half of 2021.
- Gross profit was RMB188.7 million
(USD28.2 million), an increase of 48.0% from RMB127.5 million in
the first half of 2021.
- Selling, general and administrative
("SG&A") expenses together were RMB177.3 million (USD26.5
million), a decrease of 39.5% from RMB293.2 million in the first
half of 2021, and SG&A expenses as a percentage of revenue
decreased from 95.8% to 52.4%.
- Operating profit was RMB12.4
million (USD1.8 million), rebounded from a loss of 162.3 million in
the first half of 2021.
- EBITDA2 was RMB44.8 million (USD6.7
million), rebounded from a loss of RMB415.0 million in the first
half of 2021.
- Adjusted profit2 was RMB9.5 million
(USD1.4 million), rebounded from a loss of RMB151.1 million in the
first half of 2021.
_____________
1 We made certain adjustments to our accounting
policies in relation to revenue recognition in response to new
uncertainties introduced by the impact of the prolonged COVID-19
pandemic on the marketing and sales initiatives of the treatment
centers as well as the customers' consumption behavior. In
particular, as most prepaid service packages were sold online
without preliminary face-to-face consultations and pre-established
treatment plans, it becomes increasingly difficult to estimate or
determine the timing of service redemption. As a result, we believe
it is prudent to recognize the portion of the prepaid service
package fee for which the relevant services haven't been performed
as contract liabilities instead of revenue.
Financial results of the first half of 2021
presented here have been adjusted to reflect the change in revenue
recognition for the purpose of presenting meaningful comparison
with the financial results of the first half of 2022.
2 EBITDA and adjusted profit are not prepared in
accordance with International Financial Reporting Standards as
issued by the International Accounting Standard Board, or IFRS. For
more information regarding non-IFRS financials, please refer to
“Non-IFRS Financial Measures” and “Reconciliations of IFRS and
Non-IFRS Results” appearing elsewhere in this press release.
First Half 2022 Operational
Highlights
New and repeat customers
|
For the Six Months Ended June 30, |
|
2021* |
|
2022 |
|
% Change |
|
Number |
|
% of Total |
|
Number |
|
% of Total |
|
|
New Customers |
29,586 |
|
27.1% |
|
22,284 |
|
20.1% |
|
-24.7% |
Repeat Customers |
79,674 |
|
72.9% |
|
88,791 |
|
79.9% |
|
+11.4% |
Total Active Customers |
109,260 |
|
100.0% |
|
111,075 |
|
100.0% |
|
+1.7% |
Note:*Including data from treatment centers that were divested
or ceased operations in 2021
- Despite the decrease in the number
of treatment centers and mandatory suspension of operations of
several treatment centers due to the pandemic preventative measures
in the first half of 2022, following the strategic restructuring in
2021, the Company still recorded an increase of 1.7% yoy in the
total active customers. It is worth noting the number of repeat
customers increased by 11.4%, showcasing the effectiveness of the
Company’s cross-selling strategies and to re-engage the inactive
customers.
- The increase in the total active
customers demonstrated the success of the Company’s restructuring
plan, through which it is able to retain quality assets as well as
its highly loyal and active customers.
Number of aesthetic medical treatments
|
For the Six Months Ended June 30, |
|
2021* |
|
2022 |
|
% Change |
|
Number |
|
% of Total |
|
Number |
|
% of Total |
|
|
Energy-based Treatments |
136,905 |
|
61.8% |
|
207,581 |
|
71.9% |
|
+51.6% |
Minimally Invasive Aesthetic
Treatments |
46,737 |
|
21.1% |
|
51,728 |
|
17.9% |
|
+10.7% |
Surgical Treatments |
24,504 |
|
11.1% |
|
16,174 |
|
5.6% |
|
-34.0% |
General healthcare services
and other aesthetic medical services |
13,474 |
|
6.1% |
|
13,034 |
|
4.5% |
|
-3.3% |
Total number of
treatments |
221,620 |
|
100.0% |
|
288,517 |
|
100.0% |
|
+30.2% |
Note:*Including data from treatment centers that were divested
or ceased operations in 2021
- Despite the decrease in the number
of treatment centers and mandatory suspension of operations of
several treatment centers due to pandemic preventative requirements
in the first half of 2022, the Company recorded an increase in the
number of treatments of 30.2% yoy, and the number of treatments in
retained treatment centers increased by 68.1% yoy. The increase was
primarily driven by the increasing demand for non-surgical
aesthetic medical treatments among the young generation as well as
the effectiveness of the Company’s cross-selling strategies and
discounted package promotion.
- Total number of non-surgical
aesthetic medical treatments as a percentage of the total number of
aesthetic treatments increased by 7.0 percentage points.
Average spending per customer
- Average spending per customer
increased by 8.8% from RMB2,803 in the first half of 2021 to
RMB3,048 in the first half of 2022.
First Half 2022 Unaudited Financial Results
|
For the Six Months Ended June 30, |
(RMB millions, except per share data and percentages) |
2021 1 |
|
2022 |
|
% Change |
Revenue |
306.2 |
|
338.6 |
|
+10.6% |
Non-surgical aesthetic medical services |
143.1 |
|
237.1 |
|
+65.7% |
Minimally invasive aesthetic treatments |
82.4 |
|
103.8 |
|
+26.0% |
Energy-based treatments |
60.7 |
|
133.3 |
|
+119.6% |
Surgical aesthetic medical services |
134.7 |
|
73.6 |
|
-45.3% |
General healthcare services and other aesthetic medical
services |
28.5 |
|
27.9 |
|
-2.3% |
Gross profit |
127.5 |
|
188.7 |
|
+48.0% |
Gross margin |
41.6% |
|
55.7% |
|
+14.1p.p.3 |
(Loss) for the period |
(473.0) |
|
(3.7) |
|
+99.2% |
(Loss) margin |
(154.5)% |
|
(1.1)% |
|
+153.4p.p.3 |
EBITDA4 |
(415.0) |
|
44.8 |
|
-ve to +ve |
Adjusted EBITDA4 |
(93.1) |
|
58.0 |
|
-ve to +ve |
Adjusted EBITDA margin |
(30.4)% |
|
17.1% |
|
-ve to +ve |
Adjusted profit/(loss) 4 |
(151.1) |
|
9.5 |
|
-ve to +ve |
Adjusted profit/(loss)
margin |
(49.3)% |
|
2.8% |
|
-ve to +ve |
Basic (loss) per share |
(5.97) |
|
(0.07) |
|
+98.8% |
Diluted (loss) per share |
(5.97) |
|
(0.07) |
|
+98.8% |
________________
Notes:3 p.p. represents percentage points4 Refer to below
“Non-IFRS Financial Measures”
Revenue
Total revenue was RMB338.6 million (USD50.6
million), representing an increase of 10.6% from RMB306.2 million
in the first half of 2021, primarily driven by the sales of the
newly-introduced fillers and equipment, such as bio-stimulating
filler Ellansé, high-end hyaluronic acid filler Juvéderm Voluma and
body contouring equipment CoolSculpting 2.0.
Excluding the impact of the operations treatment
centers which were divested or ceased operations in 2021, revenue
from the non-surgical aesthetic medical services in retained
treatment centers increased by 86.9% yoy.
Cost of sales and services rendered
Cost of sales and services rendered was RMB149.9
million (USD22.4 million), representing a decrease of 16.1% from
RMB178.7 million in the first half of 2021.
Gross profit
Gross profit was RMB188.7 million (USD28.2
million), representing an increase of 48.0% from RMB127.5 million
in the first half of 2021. Gross profit margin was 55.7%, compared
with 41.6% in the first half of 2021.
Selling expenses
Selling expenses were RMB111.7 million (USD16.7
million), representing 33.0% of the Company’s total revenue in the
first half of 2022, compared with RMB206.3 million in the first
half of 2021, which represented 67.4% of the Company’s total
revenue of the first half of 2021. Selling expenses as of revenue
decreased by 34.4 percentage points yoy. The reduction in the
selling expenses and its contribution was mainly as a result of the
Company's strategic shift of marketing focus to a lower-cost
customer referral program to alleviate the rising customer
acquisition costs under the impact of COVID-19 pandemic, and to
maintain a relatively high return on investment.
General and administrative
expenses
General and administrative expenses were RMB65.6
million (USD9.8 million), representing a decrease of 24.5% from
RMB86.9 million in the first half of 2021, primarily due to the
significant decrease in ESOP-related expenses as well as the
divestment of underperforming assets in 2021.
Loss for the period
As a result of the foregoing, the Company
narrowed the loss to RMB3.7 million (USD0.6 million) for the first
half of 2022, compared with a loss of RMB473.0 million in the first
half of 2021. Basic and diluted loss per share were both loss of
RMB0.07 (loss of US$0.01 per share) in the first half of 2022,
compared with basic and diluted loss per share of RMB5.97 in the
first half of 2021.
Certain Non-IFRS items5
EBITDA for the first half of 2022 was RMB44.8
million (US$6.7 million), compared with a loss of RMB415.0 million
in the first half of 2021.
Adjusted EBITDA for the first half of 2022 was
RMB58.0 million (US$8.7 million), compared with a loss of RMB93.1
million in the first half of 2021.
Adjusted profit for the first half of 2022 was
RMB9.5 million (US$1.4 million), compared with a loss of RMB151.1
million in the first half of 2021.
_____________
5 EBITDA, adjusted EBITDA and adjusted
profit/(loss), and are not prepared in accordance with
International Financial Reporting Standards as issued by the
International Accounting Standard Board, or IFRS. For more
information regarding non-IFRS financials, please refer to
“Non-IFRS Financial Measures” and “Reconciliations of IFRS and
Non-IFRS Results” appearing elsewhere in this press release.
Cash and cash equivalents
Cash and cash equivalents amounted to RMB26.2
million (US$3.9 million) as of June 30, 2022, compared with RMB47.2
million as of June 30, 2021.
Liquidity and capital resources
The Company had a net current asset of a loss of
RMB426.3 million (USD63.6 million) as of June 30, 2022, which
included current borrowings of RMB167.2 million.
Recent Developments
Effective Marketing Strategies to Support
Business Rebound Upon Relaxation of Social Distancing Policy
Due to the resurgence of COVID-19, Shanghai was
placed under lockdown from late March to early June, and two of the
Group’s treatment centers were inevitably affected and suspended
operations temporarily. During this period, the Company leveraged
its online marketing channels and private domain reach to promote
its brands and treatment packages. The campaign proved to be
successful, as the Group recorded a rapid rebound in business
volume once the lockdown was eased. Taking Shanghai Peng’ai as an
example (an aesthetic outpatient department), since the resumption
of operation, the number of customers has rebounded to 107% of June
last year. Being one of the first batch of companies to resume
business in Shanghai, the business recovery simply highlighted its
management capability in making swift adjustment and capture
relevant market opportunities.
To Establish Standard Operating Procedure (SOP)
and Training Systems to Improve Service Quality and Business
ScalabilityDuring the period, the Company implemented new internal
operational protocols, by establishing new standard operating
procedure (SOP) to ensure customers receive better and consistent
services across all its treatment centers. Employees were also
required to record all the medical treatments handled, with
detailed operating procedures as well as the marketing strategies
used for internal reference. Through case studies of these records,
the Group would be able to improve its service quality, and provide
the most standardized and suitable solutions to customers. In
addition, the Company has been working with an experienced
consulting team on a training program for its front-line employees,
including reception, customer services, operating managers,
e-commerce staff and assistant medical practitioners. The Company
believes that these measures would lay a solid foundation for its
future business growth and expansion, in a way that the
infrastructure would allow easy business replication.
To Divest Underperforming Centers and Focus on
the Greater Bay Area The Company remained dedicated to optimizing
its business operation through restructuring and realigning its
focus on its core markets in the form of Guangdong-Hong Kong-Macao
Greater Bay Area and the Yangtze Delta Area. Hence, the Company has
been reviewing its assets, and plans to divest treatment centers
that are located in non-core markets or whose performance did not
meet internal performance requirements. These include the Changsha,
Nanchang and Hangzhou centers, with the divestment expected to be
completed by the third quarter of 2022. The Company believes the
restructuring plan will enhance its profitability and improve its
financial position in the long run.
Business Outlook
On June 6, 2022, the Company received a notice
from the Nasdaq Stock Market LLC (“Nasdaq”), stating that as
reported in the Company’s annual report on Form 20-F for the year
ended December 31, 2021, the Company is no longer in compliance
with the $10 million minimum stockholders’ equity requirement for
continued listing on the Nasdaq Global Market under Nasdaq Listing
Rule 5450(b)(1)(A). As mentioned above, the Company has closed the
RMB100 million private placement on July 13, 2022 and entered
another round of private placement on July 20, 2022. The Company
submitted a response to Nasdaq regarding this issue on August 10,
2022 that if the transaction is completed by the fourth quarter,
its stockholders’ equity could meet the continued listing
requirement.
On July 26, 2022, the Development and Reform
Commission of Shenzhen Municipality issued an action plan for
promoting the healthcare and aesthetic medical industry in the
city, with an aim to strengthen the operating standards and enhance
service quality of the aesthetic medical enterprises. Pursuant to
the action plan, aesthetic medical enterprises which are newly
accredited by the Joint Commission on Accreditation of Healthcare
Organizations shall receive a project subsidy of 20% of the total
investment, up to RMB 10 million, on merit basis. Enterprises which
help standardize the aesthetic medical services in Shenzhen shall
also be giving a maximum subsidy of RMB0.5 million on merit basis.
It is expected that these will accelerate the market consolidation
as non-complying practitioners will be eliminated. The policies are
expected to benefit leading aesthetic medical companies of high
operational quality and compliance status such as AIH.
Going forward, the Company remains dedicated to
becoming a premium non-surgical aesthetic medical treatment
enterprise in the Guangdong-Hong Kong-Macao Greater Bay Area. The
Company will continue to explore the standardized model of
non-surgical chain clinics with the support of its customer
relationship management system which provides real-time and
accurate operating data as well as detailed financial breakdown.
The first pilot run will be launched at Shenzhen Peng’ai Xiuqi
Aesthetic Medical Hospital. If successful, the Company intends to
implement the standardization system across all current and future
treatment centers.
Exchange Rate
This press release contains translations of
certain Renminbi (RMB) amounts into U.S. dollars (US$) solely for
the convenience of the reader. Unless otherwise specified, all
translations of Renminbi amounts into U.S. dollar amounts in this
press release are made at RMB6.6981 to US$1.0, which was the U.S.
dollars middle rate announced by the Board of Governors of the
Federal Reserve System of the United States on June 30, 2022.
Non-IFRS Financial Measures
EBITDA represents profit before income tax,
adjusted to exclude finance costs and amortization and
depreciation. Adjusted EBITDA represents EBITDA, adjusted to
exclude loss on disposal of subsidiaries, impairment of non-current
assets, fair value loss of convertible note, fair value gain of
contingent consideration payable, share-based compensation
expenses, and professional fee.
Adjusted profit/(loss) represents loss for the
period, adjusted to exclude loss on disposal of subsidiaries,
impairment of non-current assets, fair value loss of convertible
note, fair value gain of contingent consideration payable,
share-based compensation expense, and professional fees.
EBITDA, adjusted EBITDA and adjusted
profit/(loss) are non-IFRS financial measures. You should not
consider EBITDA, adjusted EBITDA and adjusted loss as a substitute
for or superior to net income prepared in accordance with IFRS.
Furthermore, because non-IFRS measures are not determined in
accordance with IFRS, they are susceptible to varying calculations
and may not be comparable to other similarly titled measures
presented by other companies. You are encouraged to review the
Company’s financial information in its entirety and not rely on a
single financial measure.
The Company presents EBITDA, adjusted EBITDA and
adjusted profit/(loss) as supplemental performance measures because
it believes that such measures provide useful information to the
investors in understanding and evaluating the Company’s results of
operations, and facilitate operating performance comparisons from
period to period and company to company.
About Aesthetic Medical International Holdings Group
Limited
AIH, known as “Peng’ai” in China, is a leading
provider of aesthetic medical services in China. AIH operates
treatment centers that spread across major cities in mainland
China, with a major focus in the Guangdong-Hong Kong-Macau Greater
Bay area and the Yangtze River Delta area in China. Leveraging over
20 years of clinical experience, AIH provides one-stop aesthetic
service offerings, including surgical aesthetic treatments,
non-surgical aesthetic treatments, general medical services, and
other aesthetic services. For more information regarding the
Company, please visit: https://ir.aihgroup.net/.
Cautionary Statements
This press release contains “forward-looking
statements.” These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will”, “expects”, “anticipates”, “aims”,
“future”, “intends”, “plans”, “believes”, “estimates”, “likely to”
and similar statements. Statements that are not historical facts,
including statements about the Company’s beliefs, plans and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. These risks
and uncertainties and others that relate to the Company’s business
and financial condition are detailed from time to time in the
Company’s SEC filings, and could cause the actual results to differ
materially from those contained in any forward-looking statement.
These forward-looking statements are made only as of the date
indicated, and the Company undertakes no obligation to update or
revise the information contained in any forward-looking statements,
except as required under applicable law.
Investor Relations Contacts
For investor and media inquiries, please contact:
Aesthetic Medical International Holdings Group
LimitedEmail: ir@pengai.com.cn
DLK Advisory LimitedTel: +852 2857 7101Email:
ir@dlkadvisory.com
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP
LIMITED
CONSOLIDATED BALANCE SHEETS
|
|
30 June |
|
30 June |
|
30 June |
|
|
|
2021 |
|
2022 |
|
2022 |
|
|
|
RMB’000 |
|
RMB’000 |
|
US’000 |
|
ASSETS |
|
|
|
|
|
|
|
Non-current
assets |
|
|
|
|
|
|
|
Property, plant and
equipment |
|
394,545 |
|
361,887 |
|
54,028 |
|
Intangible assets |
|
60,792 |
|
38,878 |
|
5,804 |
|
Investments accounted for
using the equity method |
|
9,154 |
|
5,764 |
|
861 |
|
Prepayments and deposits |
|
37,832 |
|
18,737 |
|
2,797 |
|
Deferred income tax
assets |
|
14,792 |
|
44,299 |
|
6,614 |
|
|
|
517,115 |
|
469,565 |
|
70,104 |
|
|
|
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
|
Inventories |
|
35,497 |
|
28,809 |
|
4,301 |
|
Trade receivables |
|
9,982 |
|
6,075 |
|
907 |
|
Other receivables, deposits
and prepayments |
|
55,951 |
|
35,194 |
|
5,254 |
|
Amounts due from related
parties |
|
6,609 |
|
3,537 |
|
528 |
|
Restricted cash |
|
811 |
|
- |
|
- |
|
Cash and cash equivalents |
|
47,247 |
|
26,228 |
|
3,916 |
|
|
|
|
|
|
|
|
|
|
|
156,097 |
|
99,843 |
|
14,906 |
|
Total
assets |
|
673,212 |
|
569,408 |
|
85,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY AND
LIABILITIES |
|
|
|
|
|
|
|
Equity attributable to
owners of the Company |
|
|
|
|
|
|
|
Share capital |
|
469 |
|
469 |
|
70 |
|
Treasury shares |
|
(2,023) |
|
(2,023) |
|
(302) |
|
Accumulated losses |
|
(477,905) |
|
(1,064,524) |
|
(158,929) |
|
Other reserves |
|
497,471 |
|
914,864 |
|
136,586 |
|
|
|
18,012 |
|
(151,214) |
|
(22,576) |
|
Non-controlling
interests |
|
(45,301) |
|
(29,479) |
|
(4,401) |
|
Total
equity |
|
(27,289) |
|
(180,693) |
|
(26,977) |
|
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITED
CONSOLIDATED BALANCE SHEETS
(CONTINUED)
|
30 June |
|
30 June |
|
30 June |
|
|
2021 |
|
2022 |
|
2022 |
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
LIABILITIES |
|
|
|
|
|
|
Non-current
liabilities |
|
|
|
|
|
|
Borrowings |
44,119 |
|
72,950 |
|
10,891 |
|
Lease liabilities |
156,741 |
|
112,980 |
|
16,867 |
|
Convertible note |
36,085 |
|
38,059 |
|
5,682 |
|
Deferred income tax
liabilities |
2,709 |
|
- |
|
- |
|
Contingent consideration
payable |
8,607 |
|
- |
|
- |
|
|
248,261 |
|
223,989 |
|
33,441 |
|
Current
liabilities |
|
|
|
|
|
|
Trade payables |
37,350 |
|
44,438 |
|
6,634 |
|
Accruals, other payables and
provisions |
76,288 |
|
75,936 |
|
11,337 |
|
Contingent consideration and
consideration payable |
3,889 |
|
6,850 |
|
1,023 |
|
Amounts due to related
parties |
2,315 |
|
473 |
|
71 |
|
Contract liabilities |
134,862 |
|
193,209 |
|
28,845 |
|
Borrowings |
150,340 |
|
167,232 |
|
24,967 |
|
Lease liabilities |
36,568 |
|
29,175 |
|
4,356 |
|
Current income tax
liabilities |
10,628 |
|
8,799 |
|
1,314 |
|
|
452,240 |
|
526,112 |
|
78,546 |
|
Total
liabilities |
700,501 |
|
750,101 |
|
111,987 |
|
Total equity and
liabilities |
673,212 |
|
569,408 |
|
85,010 |
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
30 June |
|
30 June |
|
30 June |
|
|
2021 |
|
2022 |
|
2022 |
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
|
|
|
|
|
|
|
Revenue |
306,216 |
|
338,594 |
|
50,551 |
|
Cost of sales and services
rendered |
(178,694) |
|
(149,898) |
|
(22,379) |
|
Gross
profit |
127,522 |
|
188,696 |
|
28,172 |
|
Selling expenses |
(206,287) |
|
(111,692) |
|
(16,675) |
|
General and administrative
expenses |
(86,917) |
|
(65,643) |
|
(9,800) |
|
Finance income |
113 |
|
78 |
|
12 |
|
Finance costs |
(10,706) |
|
(17,003) |
|
(2,538) |
|
Other gains, net |
3,366 |
|
998 |
|
149 |
|
Fair value loss of convertible
note |
(2,266) |
|
- |
|
- |
|
Loss on disposal of
subsidiaries |
(385) |
|
- |
|
- |
|
Impairment of non-current
assets |
(295,102) |
|
- |
|
- |
|
Share of profits/(losses) of
investments accounted for using the equity method |
(76) |
|
- |
|
- |
|
(Loss)/profit before
income tax |
(470,738) |
|
(4,566) |
|
(682) |
|
Income tax
(expense)/credit |
(2,234) |
|
820 |
|
122 |
|
(Loss)/profit for the
period |
(472,972) |
|
(3,746) |
|
(559) |
|
Total comprehensive
(loss)/income for the period |
(472,972) |
|
(3,746) |
|
(559) |
|
|
|
|
|
|
|
|
(Loss)/profit
attributable to: |
|
|
|
|
|
|
Owners of the Company |
(393,475) |
|
(4,621) |
|
(690) |
|
Non-controlling interests |
(79,497) |
|
875 |
|
131 |
|
(Loss)/profit for the
period |
(472,972) |
|
(3,746) |
|
(559) |
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
30 June |
|
30 June |
|
30 June |
|
|
2021 |
|
2022 |
|
2022 |
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
(Loss)/earnings per
share for (loss)/profit attributable to owners of the Company (in
RMB per share) |
|
|
|
|
|
|
—Basic |
(5.97) |
|
(0.07) |
|
(0.01) |
|
—Diluted |
(5.97) |
|
(0.07) |
|
(0.01) |
|
|
|
|
|
|
|
|
Total comprehensive
(loss)/income attributable to: |
|
|
|
|
|
|
Owners of the Company |
(393,475) |
|
(4,621) |
|
(690) |
|
Non-controlling interests |
(79,497) |
|
875 |
|
131 |
|
Total comprehensive
(loss)/income for the year |
(472,972) |
|
(3,746) |
|
(559) |
|
|
|
|
|
|
|
|
EBITDA |
(414,953) |
|
44,834 |
|
6,694 |
|
Adjusted EBITDA |
(93,077) |
|
58,033 |
|
8,664 |
|
Adjusted profit/(loss) |
(151,096) |
|
9,453 |
|
1,411 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDRECONCILIATIONS OF IFRS AND NON-IFRS
RESULTS
EBITDA and Adjusted EBITDA |
For the Six Months Ended June 30, |
|
2021 |
|
2022 |
|
2022 |
|
|
|
|
|
|
|
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
(Loss)/profit before income tax for the period |
(470,738) |
|
(4,566) |
|
(682) |
|
Adjustments |
|
|
|
|
|
|
+ Finance costs |
10,706 |
|
17,003 |
|
2,538 |
|
+ Amortization and depreciation |
45,079 |
|
32,397 |
|
4,837 |
|
EBITDA |
(414,953) |
|
44,834 |
|
6,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
+ Loss on disposal of subsidiaries |
385 |
|
- |
|
- |
|
+ Impairment of non-current assets |
295,102 |
|
- |
|
- |
|
+ Fair value loss of convertible note |
2,266 |
|
- |
|
- |
|
- Fair value gain of contingent consideration payable |
(1,523) |
|
- |
|
- |
|
+ Share-based compensation expense |
20,523 |
|
10,463 |
|
1,562 |
|
+ Professional fees |
5,123 |
|
2,736 |
|
408 |
|
Adjusted EBITDA |
(93,077) |
|
58,033 |
|
8,664 |
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP
LIMITED
RECONCILIATIONS OF IFRS AND NON-IFRS RESULTS
(CONTINUED)
Adjusted Profit |
For the Six Months Ended June 30, |
|
2021 |
|
2022 |
|
2022 |
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
(Loss)/profit for the period |
(472,972) |
|
(3,746) |
|
(559) |
|
Adjustments |
|
|
|
+ Loss on disposal of subsidiaries |
385 |
|
- |
|
- |
|
+ Impairment of non-current assets |
295,102 |
|
- |
|
- |
|
+ Fair value loss of convertible note |
2,266 |
|
- |
|
- |
|
- Fair value gain of contingent consideration payable |
(1,523) |
|
- |
|
- |
|
+ Share-based compensation expense |
20,523 |
|
10,463 |
|
1,562 |
|
+ Professional fees |
5,123 |
|
2,736 |
|
408 |
|
Adjusted Profit/(loss) |
(151,096) |
|
9,453 |
|
1,411 |
|
|
|
|
|
|
|
|
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