Aesthetic Medical International Holdings Group Limited

First-quarter 2023 revenue was RMB148.9 million, down 7.3% from RMB160.7 million in Q1 2022. Gross profit was RMB72.6 million, down 18.4% year over year, and gross margin declined 6.6 percentage points to 48.8%. The company reported net profit of RMB182,000 versus a RMB2.5 million loss in Q1 2022, while EBITDA was RMB19.9 million and adjusted EBITDA was RMB23.7 million. Selling expenses were RMB42.4 million, general and admin expenses were RMB24.7 million, and average spending per customer increased 1.4% to RMB3,009 from RMB2,967. No formal next-quarter or full-year financial guidance was given; management said it will continue the same strategy of portfolio optimization, lower advertising spend, and better service quality to support sustainable long-term growth.

The lead commentary emphasized operational recovery after a difficult start to the quarter, when many treatment centers were temporarily closed because of widespread COVID infections. Management said it is divesting underperforming centers, renovating flagship hospitals, and tightening safety protocols, with the goal of improving service quality and long-term sustainability. The tone was cautiously optimistic, with confidence that consumer spending on self-care and appearance will improve as the economy recovers.

The CFO said revenue declined 7.3% year over year to RMB148.9 million because of 2022 divestments and a temporary January closure. He highlighted margin pressure from those closures, noting gross profit of RMB72.6 million and gross margin of 48.8%, down 6.6 percentage points, but also pointed to cost discipline: selling expenses were RMB42.4 million, 28.5% of revenue, and G&A was RMB24.7 million, down 21.6%. He also cited EBITDA of RMB19.9 million, adjusted EBITDA of RMB23.7 million, and average spending per customer of RMB3,009, up from RMB2,967, reflecting the shift away from lower-priced promotions.

There was no substantive analyst Q&A in the transcript; the call ended after prepared remarks. As a result, no additional concerns or follow-up questions were addressed beyond management’s comments on COVID-related closures, divestments, and the plan to keep improving margins and service quality.