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 quarter ended March 31, 2022.
Dr. Zhou Pengwu, the Chairman and CEO of the
Company, commented, “The results of this quarter have demonstrated
that our strategic restructuring plan is set in the right direction
and has yielded positive results. Despite the decrease in the
number of treatment centers, we were able to record an improvement
in both the financial and operating performance, which was
attributable to the optimization of our marketing strategies.”
Dr. Zhou continued, “Since the fourth quarter of
2021, we have changed our business focus to non-surgical aesthetic
treatments and optimization of marketing strategies, both of which
have not only boosted our revenue generation but also help us
record a significant decrease in selling and marketing expenses. As
a result, our operating profit, EBITDA, and adjusted net profit
rebounded from negative to positive.
Entering into the second quarter, our Shanghai
treatment centers were closed temporarily due to the local
resurgence of COVID-19. Despite the business disruption in April
and May, we see a 108% recovery in customer numbers in June, thanks
to our effective operation team and our loyal customers. Equipped
with an extensive market reach across the country, together with
our effective marketing strategies, we believe that Peng’ai can
quickly rebound after business resumption from COVID-19 disruption
through customer base expansion, and continue driving our long-term
growth.”
First Quarter 2022 Financial
Highlights1
- Total revenue was RMB160.7 million
(USD25.4 million), an increase of 18.9% from RMB135.2 million in
the first quarter of 2021.
- Revenue from retained treatment
centers increased by 39.3% to RMB160.7 million (USD25.4 million)
from RMB115.3 million in the first quarter of 2021.
- Gross profit was RMB89.0 million
(USD14.0 million), compared with RMB46.8 million in the first
quarter of 2021.
- Selling, General and Administrative
("SG&A") expenses together were RMB84.4 million (USD13.3
million), a decrease of 38.0% from RMB136.1 million in the first
quarter of 2021, and SG&A expenses as a percentage of revenue
decreased from 100.6% to 52.5%.
- Operating profit was RMB4.6 million
(USD0.7 million), a rebound from a loss of 87.5 million in the
first quarter of 2021.
- Loss for the period was RMB2.6
million (USD0.4 million), compared with a loss of RMB95.6 million
in the first quarter of 2021.
- Adjusted EBITDA was RMB27.0 million
(USD4.3 million), compared with a loss of RMB54.8 million in the
first quarter of 2021.
- Adjusted net profit was RMB4.3
million (USD0.7 million), compared with a loss of RMB83.3 million
in the first 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 first quarter of the
fiscal year 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
quarter of the fiscal year 2022.First Quarter 2022
Operational Highlights
New and repeat customers
|
For the Three Months Ended March 31, |
|
2021* |
|
2022 |
|
% Change |
|
Number |
|
% of Total |
|
Number |
|
% of Total |
|
|
New Customers |
13,959 |
|
29.6 |
% |
|
9,748 |
|
18.0 |
% |
|
-30.2 |
% |
Repeat Customers |
33,195 |
|
70.4 |
% |
|
44,413 |
|
82.0 |
% |
|
+33.8 |
% |
Total Active Customers |
47,154 |
|
100 |
% |
|
54,161 |
|
100 |
% |
|
+14.9 |
% |
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 anti-epidemic measures in the
first quarter of 2022, following the strategic restructuring in
2021, total active customers increased by 14.9% year-on-year
(“yoy”), and active customers in retained treatment centers
increased by 42.1% yoy. This demonstrated the success of the
Company’s restructuring plan, through which it is able to retain
quality assets and its highly-valued customers.
Number of aesthetic medical treatments
|
For the Three Months Ended March 31, |
|
|
2021* |
|
2022 |
|
% Change |
|
Number |
|
% of Total |
|
Number |
|
% of Total |
|
|
Energy-based Treatments |
53,288 |
|
56.9 |
% |
|
103,374 |
|
73.0 |
% |
|
+94.0 |
% |
Minimally Invasive Aesthetic
Treatments |
22,502 |
|
24.0 |
% |
|
25,399 |
|
17.9 |
% |
|
+12.9 |
% |
Surgical Treatments |
11,736 |
|
12.5 |
% |
|
7,676 |
|
5.4 |
% |
|
-34.6 |
% |
General healthcare services and
other aesthetic medical services |
6,081 |
|
6.5 |
% |
|
5,195 |
|
3.7 |
% |
|
-14.6 |
% |
Total number of treatments |
93,607 |
|
100 |
% |
|
141,644 |
|
100 |
% |
|
+51.3 |
% |
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 anti-epidemic requirements in the
first quarter of 2022, the Company recorded an increase in the
number of treatments of 50.7% yoy, and the number of treatments in
retained treatment centers increased by 99.2% yoy. The increase was
primarily driven by the significant growth in the number of
non-surgical aesthetic medical treatments, including energy-based
treatments and minimally invasive aesthetic treatments.
- Total number of non-surgical
aesthetic medical treatments as a percentage of the total number of
aesthetic treatments increased by 10.3 percentage points.
Average spending per customer
- Average spending per customer
increased by 3.5% from RMB2,867 in the first quarter of 2021 to
RMB2,967 in the first quarter of 2022.
First Quarter 2022 Unaudited Financial
Results
|
|
For the Three Months Ended March 31, |
(RMB millions, except per
share data and percentages) |
|
20211 |
|
2022 |
|
% Change |
Revenue |
|
135.2 |
|
|
160.7 |
|
|
+18.9% |
|
Non-surgical aesthetic medical services |
|
59.0 |
|
|
114.2 |
|
|
+93.4% |
|
Minimally invasive aesthetic treatments |
|
34.4 |
|
|
45.1 |
|
|
+30.9% |
|
Energy-based treatments |
|
24.6 |
|
|
69.1 |
|
|
+180.7% |
|
Surgical aesthetic medical services |
|
63.5 |
|
|
36.2 |
|
|
-43.0% |
|
General healthcare services and other aesthetic medical
services |
12.7 |
|
|
10.3 |
|
|
-18.7% |
|
Gross profit |
|
46.8 |
|
|
89.0 |
|
|
+90.2% |
|
Gross margin |
|
34.6% |
|
|
55.4% |
|
|
+20.8p.p.2 |
|
(Loss) for the period |
|
(95.6) |
|
|
(2.6) |
|
|
N.A. |
|
(Loss) margin |
|
-70.7% |
|
|
-1.6% |
|
|
N.A. |
|
EBITDA3 |
|
(67.1) |
|
|
20.0 |
|
|
+129.8% |
|
Adjusted EBITDA3 |
|
(54.8) |
|
|
26.9 |
|
|
+149.1% |
|
Adjusted EBITDA margin |
|
-40.6% |
|
|
16.8% |
|
|
+57.4p.p.2 |
|
Adjusted profit/(loss)3 |
|
(83.3) |
|
|
4.3 |
|
|
+105.2% |
|
Adjusted profit/(loss)
margin |
|
-61.6% |
|
|
2.7% |
|
|
+64.3p.p.2 |
|
Basic loss per share |
|
(1.32) |
|
|
(0.05) |
|
|
+96.2% |
|
Diluted loss per share |
|
(1.32) |
|
|
(0.05) |
|
|
+96.2% |
|
Notes:2 p.p. represents percentage points3 Refer to below
“Non-IFRS Financial Measures”
Revenues
Total revenue was RMB160.7 million (USD25.4
million), representing an increase of 18.9% from RMB135.2 million
in the first quarter of 2021, primarily due to the significant
growth of 93.4% yoy in the non-surgical aesthetic medical services,
including energy-based treatments and minimally invasive aesthetic
treatments, upon the implementation of the business restructuring
plan in 2021.
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 119.6% yoy.
Cost of sales and services rendered
Cost of sales and services rendered was RMB71.7
million (USD11.3 million), representing a decrease of 18.9% from
RMB88.4 million in the first quarter of 2021.
Gross profit
Gross profit was RMB89.0 million (USD14.0
million), representing an increase of 90.2% from RMB46.8 million in
the first quarter of 2021. Gross profit margin was 55.4%, compared
with 34.6% in the first quarter of 2021.
Selling expenses
Selling expenses were RMB52.9 million (USD8.3
million), representing 32.9% of the Company’s total revenue in the
first quarter of 2022, compared with RMB94.0 million in the first
quarter of 2021, which represented 69.5% of the Company’s total
revenue of the first quarter of 2021. Selling expenses as of
revenue decreased by 36.6 percentage points yoy. The reduction in
the selling expenses and its percentage of revenue was mainly
attributable to the optimization of sales and marketing channels.
The Company devoted more resources towards quality and
cost-effective online marketing channels and its private domain
marketing.
General and administrative
expenses
General and administrative expenses were RMB31.5
million (USD5.0 million), representing a decrease of 25.2% from
RMB42.1 million in the first quarter of 2021, primarily due to the
Company’s organizational restructuring and the decrease in
ESOP-related expenses.
Loss for the year
As a result of the foregoing, the Company
recorded a loss of RMB2.6 million (USD0.4 million) for the first
quarter of 2022, compared with a loss of RMB95.6 million in the
first quarter of 2021. Basic and diluted loss per share were both
RMB0.05 (loss of US$0.01 per share) in the first quarter of 2022,
compared with basic and diluted loss per share of RMB1.32 in the
first quarter of 2021.
Certain Non-IFRS items4
EBITDA for the first quarter of 2022 was RMB20.0
million (US$3.2 million), compared with a loss of RMB67.1 million
in the first quarter of 2021.
Adjusted EBITDA for the first quarter of 2022
was RMB26.9 million (US$4.3 million), compared with RMB54.8 million
in the same period of 2021.
Adjusted profit for the first quarter of 2022
was RMB4.3 million (US$0.7 million), compared with a loss of
RMB83.3 million in the same period of
2021.______________________
4EBITDA, adjusted loss, and adjusted EBITDA 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.
Certain balance sheet item
Cash and cash equivalents amounted to RMB31.0
million (US$4.9 million) as of March 31, 2022, compared with
RMB15.5 million as of March 31, 2021.
Liquidity and capital resources
The Company had a net current asset of a loss of
RMB435.5 million (USD68.7 million) as of March 31, 2022, which
included current borrowings of RMB161.7 million.
Recent Developments
Diversified Product and Service OfferingsDuring
the first quarter of 2022, the Company launched eight new
non-surgical aesthetic medical treatment solutions with the support
of new products and equipments. We have introduced various
well-known aesthetic medical products, such as Ellanse developed by
Huadong Medicine Co., Ltd., and Medutherapy developed by Shanghai
Miyan Biotechnology Co., Ltd., and have purchased advanced
energy-based treatment equipment to further expand its service
offerings, including the Lumenis AOPT, the Candela Picoway, and the
Fotona4D Pro. The Company is committed to continuously developing
constructive treatment solutions for our customers in the
future.
New Customer Acquisition Strategies to Expand
Customer BaseIn response to irregular epidemic prevention and
control measures, we have developed new customer acquisition
strategies through the establishment of online and offline
collaboration with renowned enterprises to target potential
customers with high level of consumption. These new B2B methods
would complement our existing B2C marketing initiatives and help
optimize our overall marketing efficiency.
Treatment Centers in Shanghai Impacted by
COVID-19Since mid-March, two of the Company’s treatment centers in
Shanghai were temporarily closed due to the outbreak of COVID-19
and had resumed operations on June 4. It was encouraging to observe
the rebound in the operating figures after the business resumption,
showcasing the Company is highly trusted by the customers and its
effective strategies on business operation. Take Shanghai Peng’ai
(an aesthetic out-patient department) as a reference, since the
resumption of operation, the number of customers has reached 108%
of the same period last year and cash sales of the
minimally-invasive aesthetic medical business reached 100% of the
same period last year, as a result of both local management’s
proactive operational and marketing strategies, and effective
preventative measures. The positive results have further built our
confidence on the recovery of the Shanghai market in the second
half of 2022.
Business Outlook
The non-surgical aesthetic medical market in
China recorded a compound annual growth rate of 29.2% for the past
five years, outperforming than that of the entire industry,
according to the research conducted by Ries Consulting, a
positioning strategy consulting firm. The rapidly growing market is
attributable to the steady growth of consumer disposable income and
people’s growing acceptance of aesthetic medicine consumption,
which was supported by the increased awareness of digital marketing
advertisements.
To ride on the market trend and further increase
its market shares, AIH will continue to identify new treatment
trends and introduce the latest services to the market while at the
same time optimizing its sales and marketing strategies to increase
customer outreach and conversion rate. The Company believes that
these strategies would allow it to diversify its revenue stream,
boost profitability and stay competitive in the market as a premium
and leading aesthetic medical company in the industry.
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 RMB6.3393 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 March 31, 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 fair value(gains)/losses of convertible redeemable
preferred shares, share-based compensation expense, professional
fee, and fair value (gain) of contingent consideration payable.
Adjusted profit/(loss) represents loss for the
year, adjusted to exclude share-based compensation expense,
professional fees, fair value gains/ (losses) of convertible
redeemable preferred shares, and fair value gain of contingent
consideration payable.
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 profit 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
|
|
31 March |
|
|
31 March |
|
|
31 March |
|
|
|
2021 |
|
|
2022 |
|
|
2022 |
|
|
|
RMB’000 |
|
|
RMB’000 |
|
|
US’000 |
|
ASSETS |
|
|
|
|
|
|
|
|
|
Non-current
assets |
|
|
|
|
|
|
|
|
|
Property, plant and
equipment |
|
544,124 |
|
|
373,190 |
|
|
58,869 |
|
Intangible assets |
|
217,722 |
|
|
38,189 |
|
|
6,024 |
|
Investments accounted for using
the equity method |
|
8,291 |
|
|
5,774 |
|
|
911 |
|
Prepayments and deposits |
|
36,218 |
|
|
14,846 |
|
|
2,342 |
|
Deferred income tax assets |
|
27,390 |
|
|
43,531 |
|
|
6,867 |
|
|
|
833,745 |
|
|
475,530 |
|
|
75,013 |
|
|
|
|
|
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
|
|
|
Inventories |
|
33,737 |
|
|
27,871 |
|
|
4,397 |
|
Trade receivables |
|
12,945 |
|
|
4,883 |
|
|
770 |
|
Other receivables, deposits
and prepayments |
|
74,645 |
|
|
28,289 |
|
|
4,462 |
|
Amounts due from related
parties |
|
6,724 |
|
|
4,371 |
|
|
690 |
|
Restricted cash |
|
8,969 |
|
|
- |
|
|
- |
|
Cash and cash equivalents |
|
15,473 |
|
|
31,009 |
|
|
4,892 |
|
|
|
152,493 |
|
|
96,423 |
|
|
15,210 |
|
Total
assets |
|
986,238 |
|
|
571,953 |
|
|
90,223 |
|
|
|
|
|
|
EQUITY AND
LIABILITIES |
|
|
|
|
Equity attributable to
owners of the Company |
|
|
|
|
Share capital |
|
469 |
|
|
469 |
|
|
74 |
|
Treasury shares |
|
(2,023 |
) |
|
(2,023 |
) |
|
(319 |
) |
Accumulated losses |
|
(477,905 |
) |
|
(1,064,524 |
) |
|
(167,925 |
) |
Other reserves |
|
794,795 |
|
|
912,829 |
|
|
143,995 |
|
|
|
315,336 |
|
|
(153,249 |
) |
|
(24,174 |
) |
Non-controlling
interests |
|
26,135 |
|
|
(29,177 |
) |
|
(4,603 |
) |
|
|
|
|
|
Total
equity |
|
341,471 |
|
|
(182,426 |
) |
|
(28,777 |
) |
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITED
CONSOLIDATED BALANCE SHEETS
(CONTINUED)
|
|
31 March |
|
31 March |
|
31 March |
|
|
|
2021 |
|
2022 |
|
2022 |
|
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
LIABILITIES |
|
|
|
|
|
|
|
Non-current
liabilities |
|
|
|
|
|
|
|
Borrowings |
|
54,735 |
|
64,525 |
|
10,179 |
|
Lease liabilities |
|
171,233 |
|
119,591 |
|
18,865 |
|
Convertible note |
|
35,496 |
|
38,059 |
|
6,004 |
|
Deferred income tax
liabilities |
|
13,287 |
|
278 |
|
44 |
|
Contingent consideration
payable |
|
8,181 |
|
- |
|
- |
|
|
|
282,932 |
|
222,453 |
|
35,091 |
|
|
|
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
|
Trade payables |
|
41,354 |
|
36,599 |
|
5,773 |
|
Accruals, other payables and
provisions |
|
72,221 |
|
73,233 |
|
11,552 |
|
Contingent consideration and
consideration payable |
|
2,989 |
|
7,045 |
|
1,111 |
|
Amounts due to related
parties |
|
3,200 |
|
473 |
|
75 |
|
Contract liabilities |
|
83,377 |
|
214,555 |
|
33,845 |
|
Borrowings |
|
109,081 |
|
161,665 |
|
25,502 |
|
Lease liabilities |
|
37,656 |
|
29,207 |
|
4,607 |
|
Current income tax
liabilities |
|
11,957 |
|
9,149 |
|
1,443 |
|
|
|
361,835 |
|
531,926 |
|
83,909 |
|
Total
liabilities |
|
644,767 |
|
754,379 |
|
119,000 |
|
Total equity and
liabilities |
|
986,238 |
|
571,953 |
|
90,223 |
|
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
31 March |
|
31 March |
|
31 March |
|
2021 |
|
2022 |
|
2022 |
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
|
|
|
Revenue |
135,203 |
|
|
160,700 |
|
|
25,350 |
|
Cost of sales and services
rendered |
(88,373 |
) |
|
(71,652 |
) |
|
(11,303 |
) |
Gross
profit |
46,830 |
|
|
89,048 |
|
|
14,047 |
|
Selling expenses |
(93,974 |
) |
|
(52,924 |
) |
|
(8,349 |
) |
General and administrative
expenses |
(42,082 |
) |
|
(31,461 |
) |
|
(4,963 |
) |
Finance income |
99 |
|
|
- |
|
|
- |
|
Finance costs |
(5,685 |
) |
|
(7,113 |
) |
|
(1,122 |
) |
Other gains, net |
1,701 |
|
|
(51 |
) |
|
(8 |
) |
Fair value loss of convertible
note |
(1,070 |
) |
|
- |
|
|
- |
|
Share of profits/(losses) of
investments accounted for using the equity method |
(39 |
) |
|
- |
|
|
- |
|
(Loss)/profit before
income tax |
(94,220 |
) |
|
(2,501 |
) |
|
(395 |
) |
Income tax
(expense)/credit |
(1,348 |
) |
|
(148 |
) |
|
(23 |
) |
|
|
|
|
(Loss)/profit for the
year |
(95,568 |
) |
|
(2,649 |
) |
|
(418 |
) |
|
|
|
|
Other comprehensive
income/(loss): |
|
|
|
Items that may be subsequently
reclassified to profit or loss |
|
|
|
Currency translation
differences |
91 |
|
|
907 |
|
|
143 |
|
|
|
|
|
Total other comprehensive
income/(loss) for the period, net of tax |
91 |
|
|
907 |
|
|
143 |
|
|
|
|
|
Total comprehensive
(loss)/income for the year |
(95,477 |
) |
|
(1,742 |
) |
|
(275 |
) |
|
|
|
|
(Loss)/profit
attributable to: |
|
|
|
Owners of the Company |
(86,701 |
) |
|
(3,225 |
) |
|
(509 |
) |
Non-controlling interests |
(8,868 |
) |
|
576 |
|
|
91 |
|
(Loss)/profit for the
year |
(95,568 |
) |
|
(2,649 |
) |
|
(418 |
) |
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDCONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
|
31 March |
|
31 March |
|
31 March |
|
2021 |
|
2022 |
|
2022 |
|
|
|
|
|
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
(Loss)/earnings per
share for (loss)/profit attributable to owners of the Company (in
RMB per share) |
|
|
|
—Basic |
(1.32 |
) |
|
(0.05 |
) |
|
(0.01 |
) |
—Diluted |
(1.32 |
) |
|
(0.05 |
) |
|
(0.01 |
) |
|
|
|
|
Total comprehensive
(loss)/income attributable to: |
|
|
|
Owners of the Company |
(86,610 |
) |
|
(2,318 |
) |
|
(366 |
) |
Non-controlling interests |
(8,867 |
) |
|
576 |
|
|
91 |
|
|
|
|
|
Total comprehensive
(loss)/income for the year |
(95,477 |
) |
|
(1,742 |
) |
|
(275 |
) |
EBITDA |
(67,124 |
) |
|
19,971 |
|
|
3,150 |
|
Adjusted EBITDA |
(54,835 |
) |
|
26,947 |
|
|
4,251 |
|
Adjusted profit/(loss) |
(83,279 |
) |
|
4,327 |
|
|
683 |
|
|
|
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS
GROUP LIMITEDRECONCILIATIONS OF IFRS AND NON-IFRS
RESULTS
EBITDA and Adjusted EBITDA |
For the Three Months Ended March 31, |
|
2021 |
|
2022 |
|
2022 |
|
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
|
(Loss)/profit before income tax for the period |
(94,220 |
) |
|
(2,501 |
) |
|
395 |
|
Adjustments |
|
|
|
|
+ Finance costs |
5,685 |
|
|
7,113 |
|
|
1,122 |
|
+ Amortization and depreciation |
21,411 |
|
|
15,359 |
|
|
2,423 |
|
EBITDA |
(67,124 |
) |
|
19,971 |
|
|
3,150 |
|
|
|
|
|
|
+ Fair value (gains)/losses of convertible redeemable preferred
shares |
1,070 |
|
|
- |
|
|
- |
|
+ Share-based compensation expense |
11,050 |
|
|
5,736 |
|
|
905 |
|
+ Professional fees |
1,692 |
|
|
1,240 |
|
|
196 |
|
+/- Fair value (gain) of contingent consideration payable |
(1,523 |
) |
|
- |
|
|
- |
|
Adjusted EBITDA |
(54,835 |
) |
|
26,947 |
|
|
4,251 |
|
|
|
|
|
|
AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP
LIMITED
RECONCILIATIONS OF IFRS AND NON-IFRS RESULTS
(CONTINUED)
Adjusted Profit |
For the Three Months Ended March 31, |
|
2021 |
|
2022 |
|
2022 |
|
RMB’000 |
|
RMB’000 |
|
US$’000 |
(Loss)/profit for the period/year |
(95,568 |
) |
|
(2,649 |
) |
|
(418 |
) |
Adjustments |
|
|
|
+ Share-based compensation expense |
11,050 |
|
|
5,736 |
|
|
905 |
|
+ Professional fees |
1,692 |
|
|
1,240 |
|
|
196 |
|
+ Fair value gains/(losses) of convertible redeemable preferred
shares |
1,070 |
|
|
- |
|
|
- |
|
+/- Fair value gain of contingent consideration payable |
(1,523 |
) |
|
- |
|
|
- |
|
Adjusted Profit/(loss) |
(83,279 |
) |
|
4,327 |
|
|
683 |
|
|
|
|
|
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