Financial Performance - Total revenue for the first half of 2023 was RMB319.3 million (USD44.0 million), a decrease of 5.7% from RMB338.6 million in the first half of 2022[3]. - Gross profit decreased by 19.6% to RMB151.8 million (USD20.9 million), with a gross profit margin of 47.5%, down 8.2 percentage points from 55.7% in the first half of 2022[13]. - EBITDA for the first half of 2023 was RMB22.4 million (USD3.1 million), a decrease of 50.1% from RMB44.8 million in the first half of 2022[18]. - The company recorded a loss of RMB11.4 million (USD1.6 million) for the first half of 2023, compared to a loss of RMB3.7 million in the first half of 2022[17]. - Revenue for the six months ended June 30, 2023, was RMB319,303,000, a decrease of 5.5% compared to RMB338,594,000 for the same period in 2022[35]. - Gross profit decreased from RMB188,696,000 in 2022 to RMB151,756,000 in 2023, reflecting a decline of approximately 19.6%[35]. - Adjusted EBITDA for the six months ended June 30, 2023, was RMB26,728,000, down from RMB58,033,000 in the same period of 2022, a decrease of approximately 54%[39]. - The company reported a loss for the period of RMB11,351,000 for the six months ended June 30, 2023, compared to a loss of RMB3,746,000 in the same period of 2022[37]. - The company’s accumulated losses increased from RMB1,064,524,000 in 2022 to RMB1,150,846,000 in 2023[31]. Customer Metrics - Total active customers decreased by 6.2% year-on-year to 104,173, with new customers increasing by 46.7% to 32,685, while repeat customers decreased by 19.5% to 71,488[5]. - The number of total treatment cases decreased by 11.1% year-on-year to 256,449, with energy-based treatments declining by 14.4%[6]. - Average spending per customer increased by 6.0% from RMB1,174 in the first half of 2022 to RMB1,245 in the first half of 2023[8]. Cash and Assets - Cash and cash equivalents increased to RMB87.9 million (USD12.1 million) as of June 30, 2023, compared to RMB26.2 million as of June 30, 2022[19]. - Cash and cash equivalents increased significantly from RMB26,228,000 on June 30, 2022, to RMB87,877,000 on June 30, 2023, an increase of approximately 234%[31]. - Total assets increased from RMB569,408,000 on June 30, 2022, to RMB602,421,000 on June 30, 2023, representing an increase of approximately 5.5%[31]. - Non-current liabilities decreased from RMB223,989,000 in 2022 to RMB114,995,000 in 2023, a reduction of approximately 48.5%[33]. Strategic Initiatives - The company plans to enhance its informational and digital infrastructure to improve customer relationship management and data-driven decision-making[2]. - The renovation of Shenzhen Pengcheng Hospital was completed in July 2023, marking a significant step towards modernization in the aesthetic medical industry[21]. - The company operates through treatment centers across major cities in mainland China, focusing on the Guangdong-Hong Kong-Macau Greater Bay area and the Yangtze River Delta area[27]. Shareholder Actions - The company closed a share transfer of 21,321,962 ordinary shares and issued 12,088,808 ordinary shares at a conversion price of RMB4.203 per share[23].
Aesthetic Medical International Holdings(AIH) - 2023 Q2 - Quarterly Report