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 three months ended September 30, 2022.
Dr. Pengwu Zhou, the Chairman and CEO of the
Company, commented, “The third quarter of 2022 was still clouded by
the uncertainties arising from the resurgence of COVID-19 pandemic.
To mitigate the impacts on people’s daily living and business
operations, the country has adjusted its strategy of prevention and
control measures, from a broad coverage of a region to a more
precise implementation of specific areas with shortened lockdown
period. Yet, Shenzhen was placed under lockdown and three of the
Group’s treatment centers were forced to close temporarily in
September, which affected our customer traffic. As a result,
revenue of this quarter slightly decreased by 0.3%
year-over-year.”
Dr. Zhou continued, “Since the second quarter of
2022, the Group has also strived to enhance its operating
efficiency by introducing streamlined operation procedures,
providing staff training opportunities, and inculcating core values
in employees to ensure consistent service quality across all
centers. We believe that these measures would improve customer
experience and in return increase retention rate, laying a strong
foundation for future business growth.”
Third Quarter 2022 Financial
Highlights1
- Total revenue was RMB167.0 million
(USD23.5 million), a decrease of 0.3% from RMB167.5 million in the
third quarter of 2021.
- Gross profit was RMB86.6 million
(USD12.2 million), an increase of 22.5% from RMB70.7 million in the
third quarter of 2021.
- Selling, general and administrative
("SG&A") expenses together were RMB107.0 million (USD15.0
million), a decrease of 22.0% from RMB137.2 million in the third
quarter of 2021, and SG&A expenses as a percentage of revenue
decreased from 81.9% to 64.1%.
- Adjusted loss after tax2 narrowed
to RMB3.7 million (USD0.5 million), compared with a loss of RMB17.2
million in the third quarter of 2021.
- Adjusted EBITDA2 was RMB10.6
million (USD1.5 million), rebounded from a loss of RMB30.0 million
in the third quarter 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 third quarter 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 third quarter of 2022.
2 Adjusted 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.
Third Quarter 2022 Operational Highlights
New and repeat customers
|
For the Three Months Ended September 30, |
|
2021* |
|
2022 |
|
|
% Change |
|
Number |
|
% of Total |
|
Number |
|
% of Total |
|
|
New Customers |
13,989 |
|
21.1% |
|
12,685 |
|
22.1% |
|
|
-9.3% |
Repeat Customers |
52,245 |
|
78.9% |
|
44,622 |
|
77.9% |
|
|
-14.6% |
Total Active Customers |
66,234 |
|
100.0% |
|
57,307 |
|
100.0% |
|
|
-13.5% |
Note:*Including data from treatment centers that were divested
or ceased operations in 2021
- As a result of the temporary
business suspension of several treatment centers in the third
quarter of 2022, the Company recorded a decrease of 13.5%
year-on-year in the total active customers.
Number of aesthetic medical treatment cases
|
For the Three Months Ended September 30, |
|
2021* |
|
2022 |
|
% Change |
|
Number |
|
% of Total |
|
Number |
|
% of Total |
|
|
Energy-based Treatments |
94,686 |
|
67.2% |
|
107,948 |
|
73.2% |
|
+14.0% |
Minimally Invasive Aesthetic
Treatments |
24,025 |
|
17.1% |
|
24,860 |
|
16.8% |
|
+3.5% |
Surgical Treatments |
11,677 |
|
8.3% |
|
7,360 |
|
5.0% |
|
-37.0% |
General healthcare services and
other aesthetic medical services |
10,416 |
|
7.4% |
|
7,312 |
|
5.0% |
|
-29.8% |
Total number of treatment
cases |
140,804 |
|
100.0% |
|
147,480 |
|
100.0% |
|
+4.7% |
Note:*Including data from treatment centers that were divested
or ceased operations in 2021
- Despite the mandatory suspension of
operations of several treatment centers due to pandemic
preventative requirements in the third quarter of 2022, the Company
recorded an increase in the number of treatment cases of 4.7%
year-on-year, and the number of treatment cases in retained
treatment centers increased by 37.0% year-on-year. 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 newly introduced package
promotion.
- Total number of non-surgical
aesthetic medical treatments as a percentage of the total number of
aesthetic treatments increased by 5.8 percentage points.
Average spending per customer
- Average spending per customer
increased by 15.2% from RMB2,529 in the third quarter of 2021 to
RMB2,915 in the third quarter of 2022, primarily driven by the
sales of high-end bio-stimulating fillers such as CureWhite,
Ellanse, and Loviselle.
Third Quarter 2022 Unaudited Financial
Results
|
|
For the Three Months Ended September 30, |
(RMB millions, except per share data and percentages) |
|
2021 1 |
|
2022 |
|
% Change |
Revenue |
|
167.5 |
|
167.4 |
|
-0.3% |
Non-surgical aesthetic medical services |
|
89.7 |
|
118.9 |
|
+32.5% |
Minimally invasive aesthetic treatments |
|
45.1 |
|
59.5 |
|
+31.8% |
Energy-based treatments |
|
44.6 |
|
59.4 |
|
+33.1% |
Surgical aesthetic medical services |
|
57.3 |
|
33.6 |
|
-41.3% |
General healthcare services and other aesthetic medical
services |
20.5 |
|
14.6 |
|
-29.0% |
Gross profit |
|
70.7 |
|
86.6 |
|
+22.5% |
Gross margin |
|
42.2% |
|
51.8% |
|
+9.6p.p.3 |
(Loss) for the period |
|
(30.3) |
|
(52.4) |
|
N.M.5 |
(Loss) margin |
|
(18.1)% |
|
(31.4)% |
|
N.M.5 |
EBITDA4 |
|
(43.1) |
|
(38.1) |
|
N.M.5 |
Adjusted EBITDA4 |
|
(30.0) |
|
10.6 |
|
N.M.5 |
Adjusted EBITDA margin |
|
(17.9)% |
|
6.4% |
|
N.M.5 |
Adjusted (loss) 4 |
|
(17.2) |
|
(3.7) |
|
N.M.5 |
Adjusted (loss) margin |
|
(10.2)% |
|
(2.2)% |
|
N.M.5 |
Basic (loss) per share |
|
(0.22) |
|
(0.60) |
|
N.M.5 |
Diluted (loss) per share |
|
(0.22) |
|
(0.60) |
|
N.M.5 |
_______________Notes:3 p.p. represents percentage points4 Refer
to below “Non-IFRS Financial Measures”5 N.M. represents not
meaningful
Revenue
Total revenue was RMB167.0 million (USD23.5
million), representing a decrease of 0.3% from RMB167.5 million in
the third quarter of 2021, primarily attributable to the divestment
of underperforming assets in 2021 and the first three quarters of
2022 and the temporary closure of several treatment centers due to
the pandemic preventative requirements in the third quarter of
2022.
Cost of sales and services rendered
Cost of sales and services rendered was RMB80.5
million (USD11.3 million), representing a decrease of 16.9% from
RMB96.8 million in the third quarter of 2021.
Gross profit
Gross profit was RMB86.6 million (USD12.2
million), representing an increase of 22.5% from RMB70.7 million in
the third quarter of 2021. Gross profit margin was 51.8%, an
increase of 9.6 percentage points from 41.8% in the third quarter
of 2021. The increase was attributable to the implementation of
stringent cost control of the aesthetic medical consumables, as
well as the value-added service provided by the Group’s
professional doctors to enhance the service quality of non-surgical
aesthetic medical business.
Selling expenses
Selling expenses were RMB61.5 million (USD8.6
million), representing 36.8% of the Company’s total revenue in the
third quarter of 2022, compared with RMB85.1million in the third
quarter of 2021, which represented 50.8% of the Company’s total
revenue of the third quarter of 2021. Selling expenses as of
revenue decreased by 14.0 percentage points year-on-year. The
reduction in the selling expenses and its contribution was mainly a
result of the Company's strategic shift of marketing focus to a
lower-cost online marketing channels, such as private domain
customer reach and social media livestreaming, to alleviate the
rising customer acquisition costs under the impact of COVID-19
pandemic, as well as the divestment of underperforming assets in
2021 and the first three quarters of 2022.
General and administrative
expenses
General and administrative expenses were RMB45.5
million (USD6.4 million), representing a decrease of 12.6% from
RMB52.1 million in the third quarter of 2021, primarily due to the
divestment of underperforming assets in 2021 and the first three
quarters of 2022.
Other gains/(losses), net
Other gains/(losses), net was a loss of RMB10.7
million (USD1.5 million), compared with a loss of RMB2.7 million in
the third quarter of 2021, primarily due to the compensation
payment for the procurement contract of non-surgical aesthetic
products as impacted by the COVID-19 pandemic.
Fair value loss of convertible note
Fair value loss of convertible note was a loss
of RMB24.1 million (USD3.4 million), compared with nil in the third
quarter of 2021. Pursuant to the exit payment agreement for
the convertible note issued to Peak Asia Investment Holdings V
Limited (“ADV”) in September 2020, the Company approved and
confirmed the issue and allotment of new ordinary shares to ADV
upon the exercise of and fulfillment of the terms of the warrant
issued to ADV on July 20, 2022 under the Cooperation Agreement (the
“ADV Warrant”). The shares to be issued under the ADV Warrant will
be such number of Ordinary Shares of the Company equal to
USD2,700,000 divided by the USD equivalent (as of the Closing Date
under the ADV Warrant) of RMB 4.67 per ordinary share. The ADV
Warrant shall be exercisable at any time after the closing of all
proposed transactions and until 6:00 PM (Hong Kong time) on
December 14, 2024 (inclusive).
Loss for the period
As a result of the foregoing, the Company
recorded a loss of RMB52.4 million (USD7.4 million) for the third
quarter of 2022, compared with a loss of RMB30.3 million in the
third quarter of 2021. Basic and diluted loss per share were both
loss of RMB0.60 (loss of USD0.08 per share) in the third quarter of
2022, compared with basic and diluted loss per share of RMB0.22 in
the third quarter of 2021.
Certain Non-IFRS items6
EBITDA for the third quarter of 2022 was a loss
of RMB38.1 million (USD5.4 million), compared with a loss of
RMB43.1 million in the third quarter of 2021.
Adjusted EBITDA for the third quarter of 2022
was RMB10.6 million (USD1.5 million), rebounded from a loss of
RMB30.0 million in the third quarter of 2021.
Adjusted loss after tax for the third quarter of
2022 was RMB3.7 million (USD0.5 million), compared with a loss of
RMB17.2 million in the third quarter of 2021.
_______________6 EBITDA, adjusted EBITDA and
adjusted 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 RMB20.4
million (USD$2.9 million) as of September 30, 2022, compared with
RMB31.9 million as of September 30, 2021.
Liquidity and capital resources
The Company had a net current asset of a loss of
RMB378.3 million (USD$53.2 million) as of September 30, 2022, which
included current borrowings of RMB178.8 million.
Other Developments
New Marketing Strategy Proven to Be Effective in
Promoting Business Growth
During the Period, the Group has continued to
adjust its marketing strategy to enhance brand awareness and expand
customer outreach while lowering costs. In addition to the private
domain channel introduced in the second quarter, the Group started
collaboration with key opinions leaders (KOLs) and tapped into
livestreaming e-commerce. The campaign was successful and effective
in expanding target audience to younger generation who has strong
demand in self-care and aesthetic related consumption. This is
reflected by a 27.8% year-on-year decrease in selling expenses
during the third quarter.
Continued to Strengthen SOP and Training
Programs to Enhance Service Quality
The Group has always strived to enhance its
service quality to enhance its brand value and to promote repeated
customer spendings and customer referral. In the third quarter, it
further strengthened the training programs to staff at all levels
by equipping them with the latest aesthetic medical market trends,
product offerings and the latest standardized operating procedures
(SOP). To better evaluate the service quality of all its centers,
the Group has engaged mystery shoppers this quarter, of which they
will discretely visit each treatment center with a budget of
RMB1,000 and provide assessments on user experience for
management’s review. As at the date of this report, 25 mystery
shoppers’ assessments and feedback have been received. The Group
believes these measures can improve service quality of all centers,
which support business scalability and sustainable growth in the
long run.
Further Divestment of Treatment Centers to
Enhance Operating Efficiency
To further improve overall operational
efficiency, the Group decided to spin off its underperforming
centers and focus on the development in Greater Bay Area. During
the period, the Group divested two treatment centers, namely
Changsha Peng’ai Aesthetic Medical Hospital and Nanchang Peng’ai
Xiuqi Aesthetic Medical Hospital, and expects to receive cash
inflows of RMB4.6 million and RMB3.0 million respectively. The
Group believes that the transaction allows it to curb the loss and
allocate resources for profit-generating treatment centers,
improving the Group’s overall profitability while maximizing the
interests of all stakeholders going forward.
Exercised Share Option Plan to Reward Key
Employees
On July 29, 2022, the Company issued 1,285,196
and 642,597 new ordinary shares to Shengli Family Limited and Mr.
Xichun Zhou respectively, representing an aggregate 2.0% of the
total number of outstanding ordinary shares, at nil consideration
in accordance with the 2019 Performance Incentive Plan proposed in
September 2019. The purpose of this share option plan is to
recognize contributions made by key employees on the negotiation
and execution of the financing with Lafang China Co., Ltd and
Hainan Oriental Jiechuang Investment Partnership, as well as to
provide an incentive to retain a long-term relationship with the
Company under the alignment of interests.
Business Outlook
Despite the government recently released some
positive news to ease travel restriction, the Group will continue
to closely monitor the macro environment and adjust its operating
strategies in a timely manner to prepare for the unexpected.
Looking forward to the near future, the Group
will continue to enhance its service quality and product offerings.
During the Period, the Group has begun the renovation of the first
floor of one of the flagship hospitals, Shenzhen Peng’ai Aesthetic
Medical Hospital. It is expected to be completed by the end of this
year and the Group believes that the new renovation will provide
customers with a better service experience. Leveraging its
expertise and extensive resources in surgical aesthetic medical
services, the Group will continue to provide value-added service in
addition to its non-surgical aesthetic medical services, and
provide training to its staff for the offerings of latest service
and implement standardized services across all centers. We expect
these business practices will enhance the AIH’s core competencies
and eventually increase our profitability. Having seen a gradual
recovery of the consumer sentiment, the Group is optimistic with
its business recovery but at the same time remains prudent in its
regular assessment on the performance of its treatment centers and
divesting non-performing centers. This includes Shenzhen Miao’yan
Aesthetic Medical Clinic with divestment expected to be completed
in the upcoming quarters. By adopting the aforementioned
strategies, AIH is confident to further improve its brand equity
and is committed to becoming a premium, professional and reliable
non-surgical aesthetic medical service provider with surgical
aesthetic medical expertise and safety practice.
Conference Call InformationThe
Company will host a conference call to discuss the Company’s
financial performance at 7:00 AM Eastern Time (8:00 PM Beijing
Time) on November 29, 2022.
All participants wishing to attend the call must
preregister online before they can receive the dial-in numbers.
Preregistration may require a few minutes to complete.
Preregistration InformationParticipants can
register for the conference call by navigating to
https://s1.c-conf.com/diamondpass/10027158-z2n7df.html. Once
preregistration has been completed, participants will receive
dial-in numbers and a unique access pin.
To join the conference, simply dial the number
you receive after preregistering, followed by your PIN, and you
will join the conference instantly.
An archive of the webcast will be available
after the conclusion of the call at https://ir.aihgroup.net/ or
visit https://edge.media-server.com/mmc/p/oztm9a94.
Exchange Rate
This press release contains translations of
certain Renminbi (RMB) amounts into U.S. dollars (USD$) 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 RMB7.1135 to USD1.0, which was the U.S.
dollars middle rate announced by the Board of Governors of the
Federal Reserve System of the United States on September 30,
2022.
Non-IFRS Financial Measures
EBITDA represents loss before income tax,
adjusted to exclude finance costs and amortization and
depreciation. Adjusted EBITDA represents EBITDA, adjusted to
exclude profession fee, share-based payment, compensation for
termination of supplier and fair value loss of convertible
note.
Adjusted loss represents loss for the period,
adjusted to exclude profession fee, share-based payment,
compensation for termination of supplier and fair value loss of
convertible note.
EBITDA, adjusted EBITDA and adjusted 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 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 ContactsFor investor and
media inquiries, please contact:
Aesthetic Medical International Holdings Group
LimitedEmail: ir@pengai.com.cn Website:
https://ir.aihgroup.netDLK Advisory LimitedTel:
+852 2857 7101Email: ir@dlkadvisory.comAESTHETIC MEDICAL
INTERNATIONAL HOLDINGS GROUP LIMITEDCONSOLIDATED
BALANCE SHEETS
|
|
30 September |
|
|
30 September |
|
|
30 September |
|
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
|
|
RMB’000 |
|
|
RMB’000 |
|
|
USD’000 |
|
ASSETS |
|
|
|
|
Non-current
assets |
|
|
|
|
Property, plant and
equipment |
|
391,780 |
|
|
361,158 |
|
|
50,771 |
|
Intangible assets |
|
59,228 |
|
|
38,942 |
|
|
5,474 |
|
Investments accounted for using
the equity method |
|
10,154 |
|
|
5,164 |
|
|
726 |
|
Prepayments and deposits |
|
28,592 |
|
|
17,187 |
|
|
2,416 |
|
Deferred income tax assets |
|
43,929 |
|
|
49,737 |
|
|
6,992 |
|
|
|
533,683 |
|
|
472,188 |
|
|
66,801 |
|
|
|
|
|
|
Current
assets |
|
|
|
|
Inventories |
|
36,932 |
|
|
33,356 |
|
|
4,689 |
|
Trade receivables |
|
12,893 |
|
|
4,100 |
|
|
576 |
|
Other receivables, deposits
and prepayments |
|
58,453 |
|
|
38,357 |
|
|
4,970 |
|
Amounts due from related
parties |
|
6,489 |
|
|
3,562 |
|
|
501 |
|
Restricted cash |
|
811 |
|
|
- |
|
|
- |
|
Cash and cash equivalents |
|
31,936 |
|
|
20,446 |
|
|
2,874 |
|
|
|
147,514 |
|
|
99,821 |
|
|
13,611 |
|
|
|
|
|
|
Total
assets |
|
681,197 |
|
|
572,009 |
|
|
80,412 |
|
|
|
|
|
|
EQUITY AND
LIABILITIES |
|
|
|
|
Equity attributable to
owners of the Company |
|
|
|
|
Share capital |
|
469 |
|
|
469 |
|
|
66 |
|
Treasury shares |
|
(2,023 |
) |
|
(2,023 |
) |
|
(284 |
) |
Accumulated losses |
|
(477,905 |
) |
|
(1,064,524 |
) |
|
(149,648 |
) |
Other reserves |
|
491,128 |
|
|
971,738 |
|
|
136,605 |
|
|
|
11,669 |
|
|
(94,340 |
) |
|
(13,262 |
) |
Non-controlling
interests |
|
(61,002 |
) |
|
(30,325 |
) |
|
(4,263 |
) |
Total
equity |
|
(49,333 |
) |
|
(124,665 |
) |
|
(17,525 |
) |
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED BALANCE SHEETS
(CONTINUED)
|
|
30 September |
|
|
30 September |
|
30 September |
|
|
2021 |
|
|
2022 |
|
2022 |
|
|
RMB’000 |
|
|
RMB’000 |
|
USD$’000 |
LIABILITIES |
|
|
|
|
|
|
|
Non-current
liabilities |
|
|
|
|
|
Borrowings |
|
58,562 |
|
|
46,458 |
|
6,531 |
Lease liabilities |
|
149,692 |
|
|
109,980 |
|
15,461 |
Convertible note |
|
36,085 |
|
|
62,164 |
|
8,739 |
Deferred income tax
liabilities |
|
(14,532 |
) |
|
- |
|
- |
Contingent consideration
payable |
|
8,607 |
|
|
- |
|
- |
|
|
238,414 |
|
|
218,602 |
|
30,731 |
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
Trade payables |
|
39,366 |
|
|
47,845 |
|
6,726 |
Accruals, other payables and
provisions |
|
76,369 |
|
|
30,073 |
|
4,228 |
Contingent consideration and
consideration payable |
|
3,889 |
|
|
6,200 |
|
872 |
Amounts due to related
parties |
|
1,099 |
|
|
473 |
|
66 |
Contract liabilities |
|
171,807 |
|
|
175,335 |
|
24,648 |
Borrowings |
|
152,170 |
|
|
178,830 |
|
25,140 |
Lease liabilities |
|
37,364 |
|
|
30,623 |
|
4,305 |
Current income tax
liabilities |
|
10,052 |
|
|
8,693 |
|
1,222 |
|
|
492,116 |
|
|
478,072 |
|
67,206 |
Total
liabilities |
|
730,530 |
|
|
696,674 |
|
97,937 |
Total equity and
liabilities |
|
681,197 |
|
|
572,009 |
|
80,412 |
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
30 September |
|
|
30 September |
|
|
30 September |
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
|
RMB’000 |
|
|
RMB’000 |
|
|
USD$’000 |
|
|
|
|
|
|
|
|
|
|
Revenue |
167,524 |
|
|
167,047 |
|
|
23,483 |
|
Cost of sales and services
rendered |
(96,831 |
) |
|
(80,475 |
) |
|
(11,313 |
) |
Gross
profit |
70,693 |
|
|
86,572 |
|
|
12,170 |
|
Selling expenses |
(85,143 |
) |
|
(61,483 |
) |
|
(8,643 |
) |
General and administrative
expenses |
(52,078 |
) |
|
(45,535 |
) |
|
(6,401 |
) |
Finance costs |
(7,815 |
) |
|
(2,289 |
) |
|
(322 |
) |
Other gains/(losses), net |
(2,721 |
) |
|
(10,654 |
) |
|
(1,498 |
) |
Fair value loss of convertible
note |
- |
|
|
(24,105 |
) |
|
(3,389 |
) |
(Loss)/profit before
income tax |
(77,064 |
) |
|
(57,494 |
) |
|
(8,082 |
) |
Income tax
(expense)/credit |
46,790 |
|
|
5,083 |
|
|
715 |
|
(Loss)/profit for the
period |
(30,274 |
) |
|
(52,411 |
) |
|
(7,368 |
) |
|
|
|
|
Total comprehensive
(loss)/income for the period |
(30,274 |
) |
|
(52,411 |
) |
|
(7,368 |
) |
|
|
|
|
(Loss)/profit
attributable to: |
|
|
|
Owners of the Company |
(14,654 |
) |
|
(51,568 |
) |
|
(7,249 |
) |
Non-controlling interests |
(15,620 |
) |
|
(843 |
) |
|
(119 |
) |
(Loss)/profit for the
period |
(30,274 |
) |
|
(52,411 |
) |
|
(7,368 |
) |
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
30 September |
|
|
30 September |
|
|
30 September |
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
|
RMB’000 |
|
|
RMB’000 |
|
|
USD$’000 |
|
(Loss)/earnings per
share for (loss)/profit attributable to owners of the Company (in
RMB per share) |
|
|
|
|
|
|
|
|
—Basic |
(0.22 |
) |
|
(0.60 |
) |
|
(0.08 |
) |
—Diluted |
(0.22 |
) |
|
(0.60 |
) |
|
(0.08 |
) |
|
|
|
|
|
|
|
|
|
Total comprehensive
(loss)/income attributable to: |
|
|
|
|
|
|
|
|
Owners of the Company |
(14,654 |
) |
|
(41,211 |
) |
|
(5,793 |
) |
Non-controlling interests |
(15,620 |
) |
|
(11,200 |
) |
|
(1,574 |
) |
Total comprehensive
(loss)/income for the year |
(30,274 |
) |
|
(52,411 |
) |
|
(7,367 |
) |
EBITDA |
(43,057 |
) |
|
(38,136 |
) |
|
(5,361 |
) |
Adjusted EBITDA |
(29,952 |
) |
|
10,620 |
|
|
1,493 |
|
Adjusted (loss) |
(17,169 |
) |
|
(3,655 |
) |
|
(514 |
) |
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDRECONCILIATIONS OF IFRS AND NON-IFRS
RESULTS
EBITDA and Adjusted EBITDA |
For the Three Months Ended September 30, |
|
2021 |
|
|
2022 |
|
|
2022 |
|
|
RMB’000 |
|
|
RMB’000 |
|
|
USD$’000 |
|
(Loss)/profit before income tax for the period |
(77,064 |
) |
|
(57,494 |
) |
|
(8,082 |
) |
Adjustments |
|
|
|
|
|
|
|
|
+ Finance costs |
7,815 |
|
|
2,289 |
|
|
322 |
|
+ Amortization and depreciation |
26,192 |
|
|
17,069 |
|
|
2,399 |
|
EBITDA |
(43,057 |
) |
|
(38,136 |
) |
|
(5,361 |
) |
|
|
|
|
+ Professional fees |
5,017 |
|
|
1,508 |
|
|
212 |
|
+ Share-based compensation expense |
8,088 |
|
|
14,143 |
|
|
1,988 |
|
+ Compensation for termination of supplier |
- |
|
|
9,000 |
|
|
1,265 |
|
+ Fair value loss of convertible note |
- |
|
|
24,105 |
|
|
3,389 |
|
Adjusted EBITDA |
(29,952 |
) |
|
10,620 |
|
|
1,493 |
|
|
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP
LIMITEDRECONCILIATIONS OF IFRS AND NON-IFRS
RESULTS (CONTINUED)
Adjusted Loss |
For the Three Months Ended September 30, |
|
2021 |
|
|
2022 |
|
|
2022 |
|
|
RMB’000 |
|
|
RMB’000 |
|
|
USD$’000 |
|
Loss for the period |
(30,274 |
) |
|
(52,411 |
) |
|
(7,368 |
) |
Adjustments |
|
|
|
+ Professional fees |
5,017 |
|
|
1,508 |
|
|
212 |
|
+ Share-based compensation expense |
8,088 |
|
|
14,143 |
|
|
1,988 |
|
+ Compensation for termination of supplier |
- |
|
|
9,000 |
|
|
1,265 |
|
+ Fair value loss of convertible note |
- |
|
|
24,105 |
|
|
3,389 |
|
Adjusted loss |
(17,169 |
) |
|
(3,655 |
) |
|
(514 |
) |
|
|
|
|
|
|
|
|
|
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