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Aesthetic Medical International Reports First Half of 2022 Unaudited Financial Results

Aesthetic Medical International Holdings Group Limited
Aesthetic Medical International Holdings Group Limited

SHENZHEN, China, Aug. 17, 2022 (GLOBE NEWSWIRE) -- 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 points
4 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 Scalability

During 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 Limited
Email: ir@pengai.com.cn

DLK Advisory Limited
Tel: +852 2857 7101
Email: 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 LIMITED
CONSOLIDATED 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 LIMITED
CONSOLIDATED 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 LIMITED
RECONCILIATIONS 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