UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 


 

Form 6-K

 


 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2020

 

Commission File Number: 001-39088

 


 

Aesthetic Medical International Holdings Group Limited

 


 

1122 Nanshan Boulevard, Nanshan District

Shenzhen, Guangdong Province, 518052

People’s Republic of China

(Address of principal executive offices)

 


 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F x

 

Form 40-F o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

Aesthetic Medical International Holdings Group Limited

 

 

 

By:

/s/ Wu Guanhua

 

Name:

Wu Guanhua

 

Title:

Chief Financial Officer

 

 

 

Date: June 26, 2020

 

 

 

2


 

EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

99.1

 

Press Release — Aesthetic Medical International Reports First Quarter 2020 Unaudited Financial Results

 

3


Exhibit 99.1

 

Aesthetic Medical International Holdings Group Limited Reports First Quarter 2020
Unaudited Financial Results

 

Shenzhen, China, June 26, 2020 — Aesthetic Medical International Holdings Group Limited (the “Company” or Nasdaq: AIH), a leading provider of aesthetic medical services in China, today announces its unaudited financial results for the first quarter ended March 31, 2020.

 

Dr. Zhou Pengwu, the Chairman and CEO of the Company, commented, “As COVID-19 began to spread globally in the first quarter of 2020, our businesses encountered a great deal of uncertainty. We postponed the resumption of operations of our aesthetic treatment centers in China after the Chinese New Year holiday in 2020 until the end of March, which resulted in a decline of 49.7% in our revenue in the first quarter compared to same period of last year.”

 

Dr. Zhou continued, “The timely and proactive measures we took ensured that our business operations remained resilient and allowed us to deliver solid performance after our aesthetic treatment centers resumed operations, in spite of the challenging environment. We will continue monitoring the latest developments and taking appropriate measures in response.”

 

First Quarter 2020 Unaudited Financial Highlights

 

·                  Total revenue was RMB91.0 million (US$12.9 million), a decrease of 49.7% from RMB180.9 million in the first quarter of 2019.

 

·                  Gross profit was RMB34.9 million (US$4.9 million), a decrease of 71.2% from RMB121.2 million in the first quarter of 2019.

 

·                  Gross margin was 38.3%, a decrease of 28.7 percentage points from 67.0% in the first quarter of 2019.

 

·                  Loss for the period was RMB83.1 million (US$11.7 million), compared with a profit of RMB22.7 million in the first quarter of 2019.

 


 

·                  EBITDA1 for the period was a loss of RMB70.6 million (US$10.0 million), a decrease of 228.1% from RMB55.1 million in the first quarter of 2019.

 

·                  Adjusted profit1 for the period was a loss of RMB58.2 million (US$8.2 million), a decrease of 328.2% from RMB25.5 million in the first quarter of 2019.

 

·                  Adjusted EBITDA1 for the period was a loss of RMB45.7 million (US$6.5 million), a decrease of 180.6% from RMB56.7 million in the first quarter of 2019.

 

·                  Basic loss per share was RMB1.22 (US$0.17), compared with basic earnings per share of RMB0.53 in the first quarter of 2019. Diluted loss per share was RMB1.22 (US$0.17), compared with diluted earnings per share of RMB0.38 in the first quarter of 2019.

 


1 EBITDA, 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.

 

First Quarter 2019 and 2020 Operational Highlights

 

 

 

For the Three Months Ended March 31,

 

 

 

2019

 

2020

 

% Change

 

 

 

Number

 

% of Total

 

Number

 

% of Total

 

Number

 

New Customers

 

19,836

 

47.4

%

14,382

 

39.3

%

-27.5

%

Repeat Customers

 

21,978

 

52.6

%

22,211

 

60.7

%

1.1

%

Total Active Customers

 

41,814

 

100.0

%

36,593

 

100.0

%

-12.5

%

 

·                  Repeat customers accounted for 60.7% of active customer base.

 


 

·                  The total number of active customers was 36,593, a decrease of 12.5% from 41,814 in the first quarter of 2019.

 

First Quarter 2020 Unaudited Financial Results

 

 

 

For the Three Months Ended March 31,

 

(RMB millions, except per share data and percentages)

 

2020

 

2019

 

% Change

 

Revenue

 

91.0

 

180.9

 

-49.7

%

Non-surgical aesthetic medical services

 

47.7

 

91.2

 

-47.7

%

Minimally invasive aesthetic treatments

 

26.1

 

43.1

 

-39.4

%

Energy-based treatments

 

21.6

 

48.1

 

-55.1

%

Surgical aesthetic medical services

 

39.8

 

72.2

 

-44.9

%

General healthcare services and other aesthetic medical services

 

3.5

 

17.5

 

-80.0

%

Gross profit

 

34.9

 

121.2

 

-71.2

%

Gross margin

 

38.3

%

67.0

%

-28.7

pp*

(Loss)/profit for the period

 

(83.1

)

22.7

 

-466.1

%

(Loss)/profit margin

 

-91.3

%

12.5

%

-103.8

pp*

EBITDA**

 

-70.6

 

55.1

 

-228.1

%

Adjusted EBITDA**

 

-45.7

 

56.7

 

-180.6

%

Adjusted EBITDA margin

 

-50.2

%

31.3

%

-81.5

pp*

Adjusted (loss)/profit**

 

-58.2

 

25.5

 

-328.2

%

Adjusted (loss)/profit margin

 

-64.0

%

14.1

%

-78.1

pp*

Basic (loss)/profit per share

 

(1.22

)

0.53

 

-330.2

%

Diluted (loss)/profit per share

 

(1.22

)

0.38

 

-421.1

%

 


Notes:

* pp represents percentage points

** Refer to below “Non-IFRS Financial Measures”

 


 

Revenues

 

Total revenue was RMB91.0 million (US$12.9 million), a decrease of 49.7% from RMB180.9 million in the first quarter of 2019, primarily due to the temporary shutdown of the Company’s treatment centers in February and March 2020, partially offset by the satisfactory performance in January 2020 as a result of enhanced marketing efforts before the Chinese New Year.

 

Revenue from non-surgical aesthetic medical services was RMB47.7 million (US$6.7 million), a decrease of 47.7% from RMB91.2 million in the first quarter of 2019.  Revenue from minimally invasive aesthetic treatments was RMB26.1 million (US$3.7 million), a decrease of 39.4% from RMB43.1 million in the first quarter of 2019. Revenue from energy-based treatments was RMB21.6 million (US$3.1 million), a decrease of 55.1% from RMB48.1 million in the first quarter of 2019.

 

Revenue from surgical aesthetic medical services was RMB39.8 million (US$5.6 million), a decrease of 44.9% from RMB72.2 million in the first quarter of 2019.

 

Revenue from general healthcare services and other aesthetic medical services was RMB3.5 million (US$0.5 million), a decrease of 80.0% from RMB17.5 million in the first quarter of 2019.

 

Cost of sales and services rendered

 

Cost of sales and services rendered was RMB56.1 million (US$7.9 million), a decrease of 6.0% from RMB59.7 million in the first quarter of 2019.

 

Gross profit

 

Gross profit was RMB34.9 million (US$4.9 million), a decrease of 71.2% from RMB121.2 million in the first quarter of 2019, primarily as a result of the decrease in revenue. Gross profit margin was 38.3%, a decrease of 28.7 percentage points from 67.0% in the first quarter of 2019, mainly due to the existence of fixed costs such as amortisation and depreciation, coupled with the decrease in revenue.

 


 

Gross profit of non-surgical aesthetic medical services was RMB17.1 million (US$2.4 million), a decrease of 74.6% from RMB67.3 million in the first quarter of 2019. Gross profit margin was 35.8%, a decrease from 73.8% in the first quarter of 2019.

 

Gross profit of minimally invasive aesthetic treatments was RMB10.9 million (US$1.5 million), a decrease of 64.3% from RMB30.5 million in the first quarter of 2019. Gross profit margin was 41.8%, a decrease from 70.8% in the first quarter of 2019.

 

Gross profit of energy-based treatments was RMB6.2 million (US$0.9 million), a decrease of 83.2% from RMB36.8 million in the first quarter of 2019. Gross profit margin was 28.7%, a decrease from 76.5% in the first quarter of 2019.

 

Gross profit of surgical aesthetic medical services was RMB17.7 million (US$2.5 million), a decrease of 58.5% from RMB42.6 million in the first quarter of 2019. Gross profit margin was 44.5%, a decrease from 59.0% in the first quarter of 2019.

 

Gross profit of general healthcare services and other aesthetic medical services was RMB0.1million (US$0.01 million), a decrease of 99.1% from RMB11.3 million in the first quarter of 2019. Gross profit margin was 2.9%, a decrease from 64.6% in the first quarter of 2019.

 

Selling expenses

 

Selling expenses were RMB78.1 million (US$11.0 million), representing 85.8% of the Company’s total revenue of the same period, compared to selling expenses of RMB75.7 million in the first quarter of 2019, which represented 41.8% of the Company’s total revenue of the same period. Selling expenses increased on a year-over-year basis, primarily because, consistent with previous years, the Company enhanced its marketing efforts before the Chinese New Year, and a significant portion of advertising and marketing expense were incurred in March 2020 to attract customers and boost sales when our operations resumed.

 


 

General and administrative expenses

 

General and administrative expenses were RMB50.9 million (US$7.2 million), an increase of 79.9% from RMB28.3 million in the first quarter of 2019, primarily due to the increase of share-based compensation expenses.

 

(Loss)/profit for the period

 

As a result of the foregoing, the Company recorded a loss for the first quarter of 2020 of RMB83.1 million (US$11.7 million), compared with a profit of RMB22.7 million in the first quarter of 2019. Basic loss per share was RMB1.22 (US$0.17), compared with basic earnings per share of RMB0.53 in the first quarter of 2019. Diluted loss per share was RMB1.22 (US$0.17), compared with diluted earnings per share of RMB0.38 in the first quarter of 2019.

 

Certain Non-IFRS items

 

EBITDA for the first quarter of 2020 was a loss of RMB70.6 million (US$10.0 million), a decrease of 228.1% from RMB55.1 million in the first quarter of 2019.

 

Adjusted profit for the first quarter of 2020 was a loss of RMB58.2 million (US$8.2 million), a decrease of 328.2% from RMB25.5 million in the first quarter of 2019.

 

Adjusted EBITDA for the first quarter of 2020 was a loss of RMB45.7 million (US$6.5 million), a decrease of 180.6% from RMB56.7 million in the first quarter of 2019.

 

EBITDA, 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.

 


 

First Quarter 2019 and 2020 Operational Results

 

Repeat customer ratio

 

Repeat customers, defined as active customers who had previously received at least one procedure from the Company, accounted for 60.7% of the Company’s active customer base in the first quarter of 2020.

 

Number of treatments

 

The Company conducted a total of 66,946 treatments, including 14,541 surgical treatments and 52,405 non-surgical treatments, in the first quarter of 2020, representing a decrease of 3.2% and 22.4% and an increase of 3.9%, respectively, from 69,179 total treatments, 18,728 surgical treatments and 50,451 non-surgical treatments in the first quarter of 2019.

 

Certain balance sheet item

 

Cash and cash equivalents amounted to RMB100.6 million (US$14.2 million) as of March 31, 2020, compared to RMB154.5 million as of December 31, 2019.

 

Certain cash flow items

 

Net cash used in operating activities was RMB19.0 million (US$2.7 million) in 2020, compared to net cash generated from operating activities of RMB43.6 million in 2019.

 

Net cash used in investing activities was RMB26.7 million (US$3.8 million) in 2020, compared to RMB36.1 million in 2019.

 

Net cash used in financing activities was RMB8.5 million (US$1.2 million) in 2020, compared to RMB20.3 million in 2019.

 


 

Liquidity and capital resources

 

The Company had net current liabilities of RMB101.7 million as at March 31, 2020. During the first quarter of 2020, due to the outbreak of COVID-19, the Company shut down its aesthetic treatment centers in February and March 2020. This created a material and adverse impacts on its revenue and cash flow for the first quarter of 2020 with potential continuing impacts on subsequent periods. After considering its expected cash flow from future operations including cost cutting measures and available borrowing facilities, the Company concluded that it has sufficient financial resources to meet its financial obligations as and when they fall due in the coming 12 months.

 

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 RMB7.0808 to US$1.00, 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, 2020.

 

Non-IFRS Financial Measures

 

EBITDA represents our profit before income tax, adjusted to exclude finance costs and amortization and depreciation. Adjusted EBITDA represents EBITDA, adjusted to exclude share-based compensation expense, other one-off expenses including professional fees in relation to our financing activities but are not capitalized and IT-related expenses paid to a related party pursuant to a service agreement, which was expired in June 2019.

 

Adjusted profit represents profit for the period/year, adjusted to exclude interest expense on convertible note, share-based compensation expense, other one-off expenses including professional fees in relation to our financing activities but are not capitalized and IT-related expenses paid to a related party pursuant to a service agreement, which was expired in June 2019.

 


 

EBITDA, Adjusted EBITDA and Adjusted profit are non-IFRS financial measures. You should not consider EBITDA, Adjusted EBITDA and Adjusted profit 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.

 

Other Developments

 

The Company continued to expand our footprint. On December 30, 2019, the Company announced the openings of two new satellite clinics — Fenghua Pengai Aesthetic Clinic and Deqing Pengai Aesthetic Clinic, in each of which the Company holds a majority equity interest. In March 2020, the Company entered into definitive agreements (the “Agreements”) to acquire controlling interest in two treatment centers. Pursuant to the Agreements, the Company acquired, in March 2020, 80% equity interest in Shanghai Mingyue Aesthetic Medical Co., Ltd., a high-end aesthetic medical service provider in Shanghai, and, in April 2020, acquired 70% equity interest in Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd., an aesthetic medical service provider in Xi’an, Shaanxi.

 

The Company is firmly committed to its customers and community. In January 2020, the Company launched the “Four Beauties,” a new set of hyaluronic acid-based skincare products. In February 2020, the Company carried out a charity campaign and made donation of approximately RMB1.3 million of medical supplies to help combat COVID-19. Through its treatment centers across the country, the Company intensified the efforts to help people in need. The Company organized charity fund raising activities, collected and donated approximately RMB0.2 million from its employees and their family members, donated protective masks, thermometers

 


 

and other medical supplies to the community, and allocated medical supplies for patients and healthcare personnel battling at the frontline.

 

Business Outlook

 

While the duration of the COVID-19 pandemic and its negative impact to market demand and the Company’s business operations still cannot be conclusively and accurately estimated at this time since there is still uncertainty of possible COVID-19 outbreak in the future, the Company currently expects that its revenue will gradually recover in the second quarter of 2020. Such expectation reflects the current and preliminary view of the Company’s management team based on the information available at the time, and may be subject to changes. The Company will continue to monitor and evaluate the development of the pandemic, and the resulting financial impact on the Company.

 

Conference Call Information

 

The Company’s management will hold an earnings conference call on June 26, 2020, at 8:00 AM U.S. Eastern Time (5:00 am Pacific Time/ 8:00 pm Beijing Time). Dial-in details for the earnings conference call are as follows:

 

Conference Call

 

Date:

June 26, 2020

Time:

8:00 am ET, U.S.

International Toll Free:

United States: +1 888-346-8982
Canada: +1 855-669-9657
Mainland China: +86 400-120-1203
Hong Kong: +852 800-905-945

International:

International: +1 412-902-4272

Conference ID:

Aesthetic Medical International Holdings Group Limited

 


 

Please dial in at least 15 minutes before the commencement of the call to ensure timely participation. For those unable to participate, an audio replay of the conference call will be available from approximately one hour after the end of the live call until July 3, 2020. The dial-in for the replay is +1 877-344-7529 within the United States or +1 412-317-0088 internationally. The replay access code is 10145204.

 

A live and archived webcast of the call will also be available on AIH’s website at: https://ir.aihgroup.net. Please log in at least 10 minutes prior to the conference call in order to download the applicable audio software.

 

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 through treatment centers that spread across major cities in mainland China, and also has presence in Hong Kong and Singapore. Leveraging over 20 years of clinical experience, AIH provides one-stop aesthetic service offerings, including surgical aesthetic treatments, non-surgical aesthetic treatments, and general medical services and other aesthetic services. According to certain third party industry consultant, AIH was the third-largest private aesthetic medical services provider in China in terms of revenue in 2018. For more information regarding the Company, please visit: http://ir.aihgroup.net/.

 

Safe Harbor Statement

 

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 Contact

 

For investor and media inquiries, please contact:

 

Aesthetic Medical International Holdings Group Limited

Email: ir@pengai.com.cn

 

Ascent Investor Relations LLC

Ms. Tina Xiao

Tel: (917) 609-0333

Email: tina.xiao@ascent-ir.com

 


 

AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

 

31 December

 

31 March

 

31 March

 

 

 

2019

 

2020

 

2020

 

 

 

RMB’000

 

RMB’000

 

US$’000

 

 

 

 

 

(Unaudited)

 

(Unaudited)

 

ASSETS

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

Property, plant and equipment

 

519,323

 

504,408

 

71,236

 

Investment properties

 

15,373

 

15,025

 

2,122

 

Intangible assets

 

175,417

 

183,004

 

25,845

 

Investments accounted for using the equity method

 

10,256

 

9,875

 

1,395

 

Prepayments and deposits

 

42,298

 

62,973

 

8,893

 

Deferred income tax assets

 

19,774

 

33,523

 

4,734

 

 

 

782,441

 

808,808

 

114,225

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

Inventories

 

26,120

 

26,816

 

3,787

 

Trade receivables

 

9,705

 

9,015

 

1,273

 

Other receivables, deposits and prepayments

 

71,278

 

72,782

 

10,279

 

Amounts due from related parties

 

3,101

 

2,745

 

388

 

Cash and cash equivalents

 

154,490

 

100,575

 

14,204

 

 

 

264,694

 

211,933

 

29,931

 

 

 

 

 

 

 

 

 

Total assets

 

1,047,135

 

1,020,741

 

144,156

 

 

 

 

 

 

 

 

 

EQUITY AND LIABILITIES

 

 

 

 

 

 

 

Equity attributable to owners of the Company

 

 

 

 

 

 

 

Share capital

 

469

 

469

 

67

 

Treasury shares

 

(41

)

(41

)

(6

)

Accumulated losses

 

(242,232

)

(321,332

)

(45,381

)

Other reserves

 

789,285

 

811,549

 

114,613

 

 

 

547,481

 

490,645

 

69,293

 

Non-controlling interests

 

43,117

 

39,074

 

5,518

 

 

 

 

 

 

 

 

 

Total (deficit)/equity

 

590,598

 

529,719

 

74,811

 

 


 

AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

 

31 December

 

31 March

 

31 March

 

 

 

2019

 

2020

 

2020

 

 

 

RMB’000

 

RMB’000

 

US$’000

 

 

 

 

 

(Unaudited)

 

(Unaudited)

 

LIABILITIES

 

 

 

 

 

 

 

Non-current liabilities

 

 

 

 

 

 

 

Borrowings

 

12,917

 

6,229

 

880

 

Lease liabilities

 

165,615

 

158,912

 

22,443

 

Deferred income tax liabilities

 

12,703

 

12,222

 

1,726

 

 

 

191,235

 

177,363

 

25,049

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

Trade payables

 

17,017

 

21,507

 

3,037

 

Accruals, other payables and provisions

 

58,439

 

93,299

 

13,175

 

Amounts due to related parties

 

626

 

585

 

83

 

Contract liabilities

 

5,542

 

4,205

 

594

 

Borrowings

 

127,470

 

140,024

 

19,775

 

Lease liabilities

 

36,266

 

35,729

 

5,046

 

Current income tax liabilities

 

19,942

 

18,310

 

2,586

 

 

 

265,302

 

313,659

 

44,296

 

 

 

 

 

 

 

 

 

Total liabilities

 

456,537

 

491,022

 

69,345

 

 

 

 

 

 

 

 

 

Total equity and liabilities

 

1,047,135

 

1,020,741

 

144,156

 

 


 

AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP LIMITED

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

 

 

 

Three months ended

 

 

 

31 March

 

31 March

 

31 March

 

 

 

2019

 

2020

 

2020

 

 

 

RMB’000

 

RMB’000

 

US$’000

 

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

Revenue

 

180,887

 

90,954

 

12,845

 

Cost of sales and services rendered

 

(59,674

)

(56,098

)

(7,923

)

 

 

 

 

 

 

 

 

Gross profit

 

121,213

 

34,856

 

4,922

 

Selling expenses

 

(75,655

)

(78,057

)

(11,024

)

General and administrative expenses

 

(28,297

)

(50,893

)

(7,187

)

Finance costs, net

 

(5,941

)

(5,124

)

(724

)

Other gains, net

 

18,208

 

1,197

 

169

 

Share of losses of investments accounted for using the equity method

 

(1,379

)

(381

)

(54

)

 

 

 

 

 

 

 

 

Profit/(loss) before income tax

 

28,149

 

(98,402

)

(13,898

)

Income tax expense

 

(5,440

)

15,287

 

2,159

 

 

 

 

 

 

 

 

 

Profit/(loss) for the period

 

22,709

 

(83,115

)

(11,739

)

 

 

 

 

 

 

 

 

Items that may be subsequently reclassified to profit or loss

 

 

 

 

 

 

 

Currency translation differences

 

(45

)

615

 

87

 

 

 

 

 

 

 

 

 

Total other comprehensive (loss)/income for the period, net of tax

 

(45

)

615

 

87

 

 

 

 

 

 

 

 

 

Total comprehensive income/(loss) for the period

 

22,664

 

(82,500

)

(11,652

)

 

 

 

 

 

 

 

 

Profit/(loss) attributable to:

 

 

 

 

 

 

 

Owners of the Company

 

21,758

 

(79,100

)

(11,171

)

Non-controlling interests

 

951

 

(4,015

)

(567

)

 

 

 

 

 

 

 

 

Profit/(loss) for the period

 

22,709

 

(83,115

)

(11,738

)

 

 

 

 

 

 

 

 

Earnings/(losses) per share for profit attributable to owners of the company (in RMB per share)

 

 

 

 

 

 

 

—Basic

 

0.53

 

(1.22

)

(0.17

)

—Diluted

 

0.38

 

(1.22

)

(0.17

)

 

 

 

 

 

 

 

 

Total comprehensive income/(loss) attributable to:

 

 

 

 

 

 

 

Owners of the Company

 

21,713

 

(78,485

)

(11,084

)

Non-controlling interests

 

951

 

(4,015

)

(567

)

 

 

 

 

 

 

 

 

Total comprehensive income/(loss) for the period

 

22,664

 

(82,500

)

(11,651

)

 


 

AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP LIMITED

 

RECONCILIATIONS OF IFRS AND NON-IFRS RESULTS

 

 

 

For the Three Months Ended March 31,

 

 

 

2019

 

2020

 

2020

 

 

 

RMB’000

 

RMB’000

 

US$’000

 

EBITDA and Adjusted EBITDA

 

 

 

 

 

 

 

Profit/(loss) before income tax for the period

 

28,149

 

(98,402

)

(13,897

)

Adjustments

 

 

 

 

 

 

 

+ Finance costs

 

5,984

 

5,224

 

738

 

+ Amortisation and depreciation

 

20,981

 

22,614

 

3,194

 

EBITDA

 

55,114

 

(70,564

)

(9,965

)

 

 

 

 

 

 

 

 

+ Share-based compensation expense

 

 

21,558

 

3,045

 

+ Professional fees

 

340

 

3,325

 

470

 

+ IT-related expenses paid to a related party

 

1,250

 

 

 

Adjusted EBITDA

 

56,704

 

(45,681

)

(6,450

)

 

 

 

For the Three Months Ended March 31,

 

 

 

2019

 

2020

 

2020

 

 

 

RMB’000

 

RMB’000

 

US$’000

 

Adjusted Profit

 

 

 

 

 

 

 

Profit/(loss) for the period

 

22,709

 

(83,115

)

(11,738

)

Adjustments

 

 

 

 

 

 

 

+ Interest expense on convertible note

 

1,185

 

 

 

+ Share-based compensation expense

 

 

21,558

 

3,045

 

+ Professional fees

 

340

 

3,325

 

470

 

+ IT-related expenses paid to a related party

 

1,250

 

 

 

Adjusted Profit

 

25,484

 

(58,232

)

(8,223

)