Aesthetic Medical International Reports First Half of 2022 Unaudited Financial Results
Aesthetic Medical International Holdings Group Limited (Nasdaq: AIH) reported its unaudited financial results for H1 2022, revealing a 10.6% year-on-year revenue increase to RMB338.6 million (USD50.6 million) and a gross profit surge of 48.0% to RMB188.7 million (USD28.2 million). Despite pandemic-related disruptions, customer numbers rebounded, with a 138.8% recovery in June sales compared to March. The company narrowed its net loss to RMB3.7 million, a substantial improvement from RMB473.0 million in H1 2021. Strategic initiatives include enhancing customer retention and operational efficiency through a new CRM system and SOPs.
- Revenue increased by 10.6% year-on-year to RMB338.6 million (USD50.6 million).
- Gross profit rose by 48.0% year-on-year to RMB188.7 million (USD28.2 million).
- SG&A expenses decreased by 39.5% year-on-year to RMB177.3 million (USD26.5 million).
- EBITDA turned positive at RMB44.8 million (USD6.7 million), compared to a loss of RMB415.0 million in H1 2021.
- Total active customers rose by 1.7% year-on-year, indicating effective customer retention strategies.
- Net current asset loss of RMB426.3 million (USD63.6 million) as of June 30, 2022.
- The company is currently not in compliance with Nasdaq's minimum stockholders' equity requirement of $10 million.
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
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 from95.8% to52.4% . - 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 | 22,284 | - | |||||||
| Repeat Customers | 79,674 | 88,791 | + | |||||||
| Total Active Customers | 109,260 | 111,075 | + | |||||||
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 by11.4% , 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 | 207,581 | + | ||||||
| Minimally Invasive Aesthetic Treatments | 46,737 | 51,728 | + | ||||||
| Surgical Treatments | 24,504 | 16,174 | - | ||||||
| General healthcare services and other aesthetic medical services | 13,474 | 13,034 | - | ||||||
| Total number of treatments | 221,620 | 288,517 | + | ||||||
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 by68.1% 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 | + | ||
| Non-surgical aesthetic medical services | 143.1 | 237.1 | + | ||
| Minimally invasive aesthetic treatments | 82.4 | 103.8 | + | ||
| Energy-based treatments | 60.7 | 133.3 | + | ||
| Surgical aesthetic medical services | 134.7 | 73.6 | - | ||
| General healthcare services and other aesthetic medical services | 28.5 | 27.9 | - | ||
| Gross profit | 127.5 | 188.7 | + | ||
| Gross margin | +14.1p.p.3 | ||||
| (Loss) for the period | (473.0) | (3.7) | + | ||
| (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)% | -ve to +ve | |||
| Adjusted profit/(loss) 4 | (151.1) | 9.5 | -ve to +ve | ||
| Adjusted profit/(loss) margin | (49.3)% | -ve to +ve | |||
| Basic (loss) per share | (5.97) | (0.07) | + | ||
| Diluted (loss) per share | (5.97) | (0.07) | + | ||
________________
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
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
Cost of sales and services rendered
Cost of sales and services rendered was RMB149.9 million (USD22.4 million), representing a decrease of
Gross profit
Gross profit was RMB188.7 million (USD28.2 million), representing an increase of
Selling expenses
Selling expenses were RMB111.7 million (USD16.7 million), representing
General and administrative expenses
General and administrative expenses were RMB65.6 million (USD9.8 million), representing a decrease of
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
Certain Non-IFRS items5
EBITDA for the first half of 2022 was RMB44.8 million (US
Adjusted EBITDA for the first half of 2022 was RMB58.0 million (US
Adjusted profit for the first half of 2022 was RMB9.5 million (US
_____________
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
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
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
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
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
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 | |||
FAQ
What are the key financial results for AIH in the first half of 2022?
How did COVID-19 impact AIH's business operations in 2022?
What operational improvements is AIH implementing?
What challenges does AIH face regarding its Nasdaq listing?
What positive changes were observed in AIH's customer metrics?
