Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2021shares | |
Document and Entity Information | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Period End Date | Dec. 31, 2021 |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-39088 |
Entity Registrant Name | Aesthetic Medical International Holdings Group Ltd |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | 1122 Nanshan Boulevard |
Entity Address, Address Line Two | Nanshan District |
Entity Address, City or Town | Shenzhen |
Entity Address, Address Line Three | Guangdong Province |
Entity Address, Country | CN |
Entity Address, Postal Zip Code | 518052 |
Entity Common Stock, Shares Outstanding | 70,703,671 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
ICFR Auditor Attestation Flag | false |
Document Accounting Standard | International Financial Reporting Standards |
Entity Shell Company | false |
Entity Central Index Key | 0001757143 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Auditor Name | Union Power HK CPA Limited |
Auditor Firm ID | 3004 |
Auditor Location | Hong Kong |
Business Contact | |
Document and Entity Information | |
Contact Personnel Name | Wu Guanhua |
Contact Personnel Email Address | toby@pengai.com.cn |
Entity Address, Address Line One | 1122 Nanshan Boulevard |
Entity Address, Address Line Two | Nanshan District |
Entity Address, City or Town | Shenzhen |
Entity Address, Address Line Three | Guangdong Province |
Entity Address, Country | CN |
Entity Address, Postal Zip Code | 518052 |
Country Region | 86 |
City Area Code | 755 |
Local Phone Number | 2559 8065 |
American depositary shares | |
Document and Entity Information | |
Title of 12(b) Security | American depositary shares, each |
Trading Symbol | AIH |
Security Exchange Name | NASDAQ |
Ordinary shares | |
Document and Entity Information | |
Title of 12(b) Security | Ordinary shares, par value US$0.001 per share* |
No Trading Symbol Flag | true |
Security Exchange Name | NASDAQ |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Revenue | ¥ 645,593,000 | ¥ 901,573,000 | ¥ 869,050,000 |
Cost of sales and services rendered | (376,092,000) | (356,796,000) | (275,948,000) |
Gross profit | 269,501,000 | 544,777,000 | 593,102,000 |
Selling expenses | (404,683,000) | (510,608,000) | (413,068,000) |
General and administrative expenses | (206,971,000) | (230,646,000) | (196,329,000) |
Finance income | 113,000 | 1,185,000 | 388,000 |
Finance costs | (27,230,000) | (29,189,000) | (24,293,000) |
Other gains, net | 6,074,000 | 600,000 | 18,669,000 |
Fair value gain of convertible redeemable preferred shares | 136,656,000 | ||
Fair value loss of convertible note | (4,240,000) | (1,599,000) | (5,193,000) |
Fair value gain of exchangeable note liabilities | 45,274,000 | ||
Fair value gain of derivative financial instrument | 301,000 | ||
Impairment of non-current assets | (313,959,000) | (32,969,000) | (1,405,000) |
Share of (losses)/profits of investments accounted for using the equity method | 81,000 | (1,043,000) | (1,738,000) |
Profit/(loss) before income tax | (681,314,000) | (259,492,000) | 152,364,000 |
Income tax (expense)/credit | 11,798,000 | 12,587,000 | (14,036,000) |
Profit/(loss) for the year | (669,516,000) | (246,905,000) | 138,328,000 |
Items that may be subsequently reclassified to profit or loss | |||
Currency translation differences | 574,000 | (731,000) | 672,000 |
Total other comprehensive income/(loss) for the year, net of tax | 574,000 | (731,000) | 672,000 |
Total comprehensive income/(loss) for the year | (668,942,000) | (247,636,000) | 139,000,000 |
Profit/(loss) attributable to: | |||
Owners of the Company | (586,619,000) | (235,479,000) | 136,309,000 |
Non-controlling interests | (82,897,000) | (11,426,000) | 2,019,000 |
Profit/(loss) for the year | ¥ (669,516,000) | ¥ (246,905,000) | ¥ 138,328,000 |
Earnings/(loss) per share for profit/(loss) attributable to owners of the Company (in RMB per share) | |||
Basic | ¥ (8.89) | ¥ (3.61) | ¥ 2.96 |
Diluted | ¥ (8.89) | ¥ (3.61) | ¥ (0.78) |
Total comprehensive income/(loss) attributable to: | |||
Owners of the Company | ¥ (586,045,000) | ¥ (236,210,000) | ¥ 136,981,000 |
Non-controlling interests | (82,897,000) | (11,426,000) | 2,019,000 |
Total comprehensive income/(loss) for the year | ¥ (668,942,000) | ¥ (247,636,000) | ¥ 139,000,000 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - CNY (¥) | Dec. 31, 2021 | Dec. 31, 2020 |
Non-current assets | ||
Property, plant and equipment | ¥ 358,749,000 | ¥ 531,941,000 |
Intangible assets | 37,238,000 | 208,429,000 |
Investments accounted for using the equity method | 4,904,000 | 8,330,000 |
Prepayments and deposits | 16,574,000 | 51,850,000 |
Deferred income tax assets | 45,765,000 | 31,372,000 |
Total non-current assets | 463,230,000 | 831,922,000 |
Current assets | ||
Inventories | 30,566,000 | 33,336,000 |
Trade receivables | 7,772,000 | 14,324,000 |
Other receivables, deposits and prepayments | 31,692,000 | 98,715,000 |
Amounts due from related parties | 4,391,000 | 6,693,000 |
Restricted cash | 8,712,000 | |
Cash and cash equivalents | 39,289,000 | 44,384,000 |
Total current assets | 113,710,000 | 206,164,000 |
Total assets | 576,940,000 | 1,038,086,000 |
Equity attributable to owners of the Company | ||
Share capital | 469,000 | 469,000 |
Treasury shares | (2,023,000) | (2,023,000) |
Accumulated losses | (1,064,524,000) | (477,905,000) |
Other reserves | 909,411,000 | 870,355,000 |
Total equity attributable to owners of parent | (156,667,000) | 390,896,000 |
Non-controlling interests | (29,755,000) | 34,840,000 |
Total equity | (186,422,000) | 425,736,000 |
Non-current liabilities | ||
Borrowings | 77,607,000 | 75,931,000 |
Lease liabilities | 105,754,000 | 178,983,000 |
Convertible note | 38,059,000 | 34,190,000 |
Deferred income tax liabilities | 285,000 | 13,377,000 |
Contingent consideration payable | 8,181,000 | |
Total non-current liabilities | 221,705,000 | 310,662,000 |
Current liabilities | ||
Trade payables | 31,256,000 | 33,654,000 |
Accruals, other payables and provisions | 72,848,000 | 68,783,000 |
Contingent consideration and consideration payable | 7,100,000 | 4,512,000 |
Amounts due to related parties | 473,000 | 1,224,000 |
Contract liabilities | 236,476,000 | 8,639,000 |
Borrowings | 156,208,000 | 135,814,000 |
Lease liabilities | 28,278,000 | 35,868,000 |
Current income tax liabilities | 9,018,000 | 13,194,000 |
Total current liabilities | 541,657,000 | 301,688,000 |
Total liabilities | 763,362,000 | 612,350,000 |
Total equity and liabilities | ¥ 576,940,000 | ¥ 1,038,086,000 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CNY (¥) | Share capital | Treasury shares | Reserves | Accumulated losses | Attributable to owners of the Company | Non-controlling interests | Total |
Balance at the beginning at Dec. 31, 2018 | ¥ 265,000 | ¥ 0 | ¥ 95,245,000 | ¥ (373,920,000) | ¥ (278,410,000) | ¥ 29,054,000 | ¥ (249,356,000) |
Comprehensive income | |||||||
Profit (loss) for the year | 136,309,000 | 136,309,000 | 2,019,000 | 138,328,000 | |||
Currency translation differences | 672,000 | 672,000 | 672,000 | ||||
Total comprehensive loss/ income for the year | 672,000 | 136,309,000 | 136,981,000 | 2,019,000 | 139,000,000 | ||
Transactions with owners | |||||||
Transfer to statutory reserve | 0 | 0 | 4,621,000 | (4,621,000) | 0 | 0 | 0 |
Transactions with non-controlling shareholders (Note 31) | (5,248,000) | (5,248,000) | (2,576,000) | (7,824,000) | |||
Capital contributions from non-controlling interests | 2,793,000 | 2,793,000 | |||||
Issuance of shares held as treasury shares (Note 31), Nominal value | 41,000 | (41,000) | |||||
Share-based payment | 47,788,000 | 47,788,000 | 47,788,000 | ||||
Business combinations (Note 29) | 18,143,000 | 18,143,000 | |||||
Disposal of a subsidiary due to loss of control | (2,541,000) | (2,541,000) | |||||
Dividend to non-controlling shareholders | 0 | 0 | 0 | 0 | 0 | (3,775,000) | (3,775,000) |
Issuance of shares | 53,000 | 211,906,000 | 211,959,000 | 211,959,000 | |||
Transaction costs related to issuance of shares upon initial public offering | (45,516,000) | (45,516,000) | (45,516,000) | ||||
Conversion of Series A Preferred Shares and exchangeable note upon initial public offering (Note 25 and 27) | 110,000 | 479,817,000 | 479,927,000 | 479,927,000 | |||
Total transactions with owners | 204,000 | (41,000) | 693,368,000 | (4,621,000) | 688,910,000 | 12,044,000 | 700,954,000 |
Balance at the end at Dec. 31, 2019 | 469,000 | (41,000) | 789,285,000 | (242,232,000) | 547,481,000 | 43,117,000 | 590,598,000 |
Comprehensive income | |||||||
Profit (loss) for the year | (235,479,000) | (235,479,000) | (11,426,000) | (246,905,000) | |||
Currency translation differences | (731,000) | (731,000) | (731,000) | ||||
Total comprehensive loss/ income for the year | (731,000) | (235,479,000) | (236,210,000) | (11,426,000) | (247,636,000) | ||
Transactions with owners | |||||||
Transfer to statutory reserve | 194,000 | (194,000) | |||||
Transactions with non-controlling shareholders (Note 31) | 2,640,000 | 2,640,000 | (5,000) | 2,635,000 | |||
Share-based payment | 78,967,000 | 78,967,000 | 78,967,000 | ||||
Business combinations (Note 29) | 32,669,000 | 32,669,000 | |||||
Disposal of a subsidiary due to loss of control | (28,579,000) | (28,579,000) | |||||
Dividend to non-controlling shareholders | (936,000) | (936,000) | |||||
Share repurchase (Note 19) | (1,982,000) | (1,982,000) | (1,982,000) | ||||
Total transactions with owners | (1,982,000) | 81,801,000 | (194,000) | 79,625,000 | 3,149,000 | 82,774,000 | |
Balance at the end at Dec. 31, 2020 | 469,000 | (2,023,000) | 870,355,000 | (477,905,000) | 390,896,000 | 34,840,000 | 425,736,000 |
Comprehensive income | |||||||
Profit (loss) for the year | (586,619,000) | (586,619,000) | (82,897,000) | (669,516,000) | |||
Currency translation differences | 574,000 | 574,000 | 574,000 | ||||
Total comprehensive loss/ income for the year | 574,000 | (586,619,000) | (586,045,000) | (82,897,000) | (668,942,000) | ||
Transactions with owners | |||||||
Transactions with non-controlling shareholders (Note 31) | 3,020,000 | (1,740,000) | 1,434,000 | ||||
Transactions with non-controlling shareholders (Note 31) | 3,020,000 | 3,020,000 | (1,586,000) | 1,434,000 | |||
Share-based payment | 35,462,000 | 35,462,000 | 35,462,000 | ||||
Business combinations (Note 29) | 163,000 | 163,000 | |||||
Disposal of a subsidiary due to loss of control | 20,840,000 | 20,840,000 | |||||
Dividend to non-controlling shareholders | (1,115,000) | (1,115,000) | |||||
Total transactions with owners | 38,482,000 | 38,482,000 | 18,302,000 | 56,784,000 | |||
Balance at the end at Dec. 31, 2021 | ¥ 469,000 | ¥ (2,023,000) | ¥ 909,411,000 | ¥ (1,064,524,000) | ¥ (156,667,000) | ¥ (29,755,000) | ¥ (186,422,000) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities | |||
Cash generated from operations | ¥ 51,715 | ¥ 5,582 | ¥ 100,695 |
Income tax paid | (624) | (6,425) | (13,934) |
Net cash generated from/(used in) operating activities | 51,091 | (843) | 86,761 |
Cash flows from investing activities | |||
Net cash used in business combinations | (7,273) | (69,951) | (28,880) |
Proceeds from disposal of property, plant and equipment | 166 | 11 | |
Purchase of and deposit paid for property, plant and equipment | (33,237) | (38,355) | (69,112) |
Purchase of and deposit paid for intangible assets | (205) | (6,807) | (6,886) |
Deposit of long term investment | (21,287) | (31,231) | |
Deposit from investors | 20,000 | ||
Repayment of long term investment | 6,791 | ||
Restricted cash | 8,712 | (8,712) | |
Balances with related parties | 1,550 | (3,446) | 13,154 |
Interest income received | 113 | 1,185 | 388 |
Proceeds from disposal of subsidiaries | (1,351) | 19,994 | 1,604 |
Net cash used in investing activities | (11,525) | (127,368) | (114,172) |
Cash flows from financing activities | |||
Proceeds from borrowings | 97,880 | 276,595 | 139,765 |
Repayment of borrowings | (68,928) | (217,675) | (103,865) |
Repayment of lease liabilities | (50,575) | (59,646) | (49,691) |
Proceeds from other borrowings | 143,018 | 3,000 | |
Repayment of other borrowings | (152,687) | (3,915) | |
Proceeds from convertible note, net | 32,797 | ||
Interest paid | (12,828) | (10,541) | (11,786) |
Capital contribution from non-controlling interests | 2,793 | ||
Dividends paid to non-controlling interests | (1,115) | (936) | (3,775) |
Share repurchase | (1,982) | ||
Issuance of shares, net | 181,911 | ||
Repayment of convertible note | (75,791) | ||
Net cash generated from/(used in) financing activities | (45,235) | 17,697 | 79,561 |
Net increase/(decrease) in cash and cash equivalents | (5,669) | (110,514) | 52,150 |
Cash and cash equivalents at beginning of the year | 44,384 | 154,490 | 101,886 |
Effect of changes in foreign exchange rates | 574 | 408 | 454 |
Cash and cash equivalents at end of the year | ¥ 39,289 | ¥ 44,384 | ¥ 154,490 |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS - Cash Reconciliation - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Analysis of the balances of cash and cash equivalents at 31 December | |||
Bank and cash balances | ¥ 39,289 | ¥ 44,384 | ¥ 154,490 |
Less: Assets held-for-sale | |||
Cash and cash equivalents | ¥ 39,289 | ¥ 44,384 | ¥ 154,490 |
General information
General information | 12 Months Ended |
Dec. 31, 2021 | |
General information | |
General information | 1 General information Aesthetic Medical International Holdings Group Limited (the “Company”) was incorporated in the Cayman Islands on 27 May 2011 as an exempted company with limited liability under the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands. The address of its registered office is Offshore Incorporations (Cayman) Limited, Scotia Centre, 4th Floor, P.O. Box 2804, George Town, Grand Cayman KY1-1112, Cayman Islands. The principal activities of the Company and its subsidiaries (together, the “Group”) are engaged in the provision of non-surgical aesthetic medical services, surgical aesthetic medical services, other aesthetic medical services and general healthcare services in the People’s Republic of China (the “PRC”). The principal activities of the subsidiaries are set out in Note 36. The Company completed its initial public offering and listing of American Depositary Shares (“ADSs”) on the NASDAQ Global Market in October, 2019, and raised net proceeds of US$27,600,000 from the offering. Each ADS represents three ordinary shares. These consolidated financial statement are presented in Renminbi (“RMB”) and rounded to the nearest thousand yuan, unless otherwise stated. |
Summary of significant accounti
Summary of significant accounting policies | 12 Months Ended |
Dec. 31, 2021 | |
Summary of significant accounting policies | |
Summary of significant accounting policies | 2 Summary of significant accounting policies The principal accounting policies applied in the preparation of these consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 2.1 Basis of preparation The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. These consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of convertible note, which was carried at fair value. Impact of COVID-19 Since the beginning of 2021, COVID-19 outbreaks continued to take place from time to time, and some of the Group’s treatment centers were shut down temporarily due to public safety concerns and governmental regulations, including those in Shanghai which haven’t resumed business operation at the date of this report. As the business of the Group was significantly impacted by COVID-19, the Group has ceased operation of or divested certain treatment centers which either are located in non-core markets or did not reach the Company’s internal performance requirements, after reviewing the business performance of each cash generating unit (“CGU”) including the related goodwill and the recoverable amount of a CGU. Impairment tests were performed over the CGU and the fair value of each CGU estimated using a discounted cash flow model covering a five-year period. The Company’s impairment test indicated that the goodwill had a carrying value that was not recoverable, resulting in an impairment charge of RMB122,099,000, which was recorded to reduce the carrying value of CGU to its implied fair value. Going Concern The consolidated financial statements of the Company have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As a result, the Group had a loss for the year of RMB 669,518,000 These factors raise substantial doubt about the Company’s ability to continue as a going concern. Besides continuing to negotiate with the banks, the Company is evaluating several measures of financing, such as external financings, will also be considered. Currently, the Company intends to raise loans from financial institutions and potential funders to maintain its normal operations. The Company’s ability to continue as a going concern is primarily dependent on the Company’s ability to arrange adequate financing arrangements and generate cash flows from its operations and the completion of private placement from new investor. 2 Summary of significant accounting policies (Continued) 2.1 Basis of preparation (Continued) Going Concern (Continued) The preparation of consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4. 2.2 Changes in accounting policy and disclosures 2.2.1 New standards and amendments to standards adopted by the Group The following new standards and amendments to standards are mandatory for accounting periods beginning on or after 1 January 2021. The adoption of these new standards and amendments to standards does not have significant impact to the results and financial position of the Group: Amendments to IFRS 16: COVID-19 Related Rental Concession Amendments to IAS 39, IFRS 4, IFRS 7, IFRS 9 and IFRS 16: Interest Rate Benchmark Reform 2.2.2 New standards, amendments to standards and interpretations not yet adopted The following are new standards, amendments to standards and interpretations which have been issued but are not effective and have not been early adopted. The Group plans to adopt these new standards, amendments to standards and interpretations when they become effective: Amendments to IFRS 10 and IAS 28 (2011): Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture To be determined Amendments to IFRS 3: Reference to Conceptual Framework 1 January 2022 IFRS 17: Insurance Contracts and related amendments 1 January 2023 Amendments to IAS 16: Proceeds Before Intended Use 1 January 2022 Amendments to IAS 37: Onerous Contracts-Cost of Fulfilling a Contract 1 January 2022 Amendments to IAS 1: Classification of Liabilities as Current and Non-current 1 January 2023 Annual Improvements to 2018-2021 cycle: Amendments to IFRS 1, IFRS 9, IFRS 16 and IAS 41 1 January 2022 Amendments to IAS 1: Disclosure of accounting policies 1 January 2023 Amendments to IAS 8: Definition of accounting estimates 1 January 2023 2021 Amendment to IFRS 16 Leases: COVID-19-Related Rent Concessions beyond 30 June 2021 1 April 2021 Amendments to IAS 12: Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction 1 January 2023 2 Summary of significant accounting policies (Continued) 2.2 Changes in accounting policy and disclosures (Continued) 2.2.2 New standards, amendments to standards and interpretations not yet adopted (Continued) The Group will adopt the above new or revised standards, amendments and interpretations to existing standards as and when they become effective. Management is in the process of assessing the impact of these standards, amendments and interpretations to existing IFRS. None of these is expected to have a significant effect on the consolidated financial statements of the Group. 2.3 Subsidiaries Consolidation A subsidiary is an entity (including a structured entity) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. (a) Business combinations The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognises any non-controlling interest in the acquiree on an acquisition-by- acquisition basis. Non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of the entity’s net assets in the event of liquidation are measured at either fair value or the present ownership interests’ proportionate share in the recognised amounts of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at their acquisition date fair value, unless another measurement basis is required by IFRS. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is re-measured to fair value at the acquisition date; any gains or losses arising from such re-measurement are recognised in consolidated statement of comprehensive income. Any contingent consideration to be transferred by the Group is recognised at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration that is deemed to be an asset or liability is recognised in accordance with IFRS 9 in consolidated statement of comprehensive income. Contingent consideration that is classified as equity is not remeasured, and its subsequent settlement is accounted for within equity. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If the total of consideration transferred, non-controlling interest recognised and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognised directly in the statement of comprehensive income. 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (a) Business combinations (Continued) Intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. (b) Changes in ownership interests in subsidiaries without change of control Transactions with non-controlling interests that do not result in a loss of control are accounted for as equity transactions - that is, as transactions with the owners of the subsidiary in their capacity as owners. The difference between fair value of any consideration paid and the relevant share acquired of the carrying amount of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. (c) Disposal of subsidiaries When the Group ceases to have control, any retained interest in the entity is re-measured to its fair value at the date when control is lost, with the change in carrying amount recognised in consolidated statement of comprehensive income. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the Group had directly disposed of the related assets or liabilities. It means the amounts previously recognised in other comprehensive income are reclassified to consolidated statement of comprehensive income or transferred to another category of equity as specified/permitted by applicable IFRSs. (d) Contractual arrangements with respect to equity interests in certain PRC subsidiaries Since the Industry Catalog for Guiding Foreign Investment (Revision 2015) became effective in April 2015, PRC law only allows foreign investment in PRC medical institutions through joint venture entities, and the foreign shareholding in these entities is limited to 70.0%. The Company historically held more than 70.0% equity interest in certain of its PRC subsidiaries that are medical institutions which the Company acquired or established after the effective date of the Industry Catalog for Guiding Foreign Investment (Revision 2015). The Company had decreased its shareholding to 70.0% in such PRC subsidiaries by transferring excessive equity interests to Dr. Zhou Pengwu and certain employees of the Group since 2018. The Company entered into a series of agreement (“Contractual Arrangements”) with Dr. Zhou Pengwu, Yantai Pengai Cosmetic Surgery Hospital Co., Ltd., Hangzhou Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd., Changsha Pengai Aesthetic Medical Hospital Co., Ltd., Shanghai Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd., Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd., Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd., Beijing Aomei Yixin Investment Consultant Co., Ltd., Shenzhen Miaoyan Aesthetic Medical Clinic, Nanchang Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd, Shanghai Jiahong Aesthetic Medical Clinic Co., Ltd. (collectively “Relevant Subsidiaries”) and Ms. Ding Wenting in 2018, 2019, 2020, 2021, and 2022 with respect to the 24.0%, 30.0%, 22.0%, 15.0%, 22.0%, 26.0%, 25%, 30%, 30% 19% and 12% equity interests in the respective aforementioned Relevant Subsidiaries (“Target Equity Interests”). These Contractual Arrangements enable the Company to (i) exercise control over the Target Equity Interests in the Relevant Subsidiaries; (ii) receive economic benefits from the Target Equity Interests in Relevant Subsidiaries; and (iii) have an exclusive option to purchase all or part of the Target Equity Interests when and to the extent permitted by PRC laws. 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (d) Contractual arrangements with respect to equity interests in certain PRC subsidiaries (Continued) As of December 31, 2021, several of the above-mentioned subsidiaries have been divested or ceased operation of, including Chongqing Pengai Aesthetic Medical Hospital Co., Ltd., Chengdu Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Shenzhen Pengai Yuexin Aesthetic Medical Hospital, Shenzhen Pengai Yueji Aesthetic Medical Hospital, Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Jiangsu Liangyan Hospital Management Co., Ltd., Yunnam Liangyan Aesthetic Medical Clinic Co., Ltd., Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. and Kunming Liangyan Hospital Management Co., Ltd. Their corresponding Contractual Arrangements were no longer valid or applicable since then. The principal terms of the Contractual Arrangements are described below: (i). Loan agreement Shenzhen Pengai Investment, as the lender, entered into certain loan agreements with Dr. Zhou Pengwu, as the borrower. Pursuant to each of these loan agreements, Shenzhen Pengai Investment agrees to extend a loan to Dr. Zhou Pengwu in an equivalent amount to the purchase price to be paid by Dr. Zhou Pengwu for acquiring the Target Equity Interests. Pursuant to each of these loan agreements, Dr. Zhou Pengwu shall repay the loan by transferring the current and future economic interest of the Target Equity Interests to Shenzhen Pengai Investment. (ii). Economic interest transfer agreement Dr. Zhou Pengwu, Shenzhen Pengai Investment and each of the Relevant Subsidiaries entered into certain economic interest transfer agreements. Pursuant to each of these economic interest transfer agreements, the economic interest in relation to the Target Equity Interests currently held and subsequently acquired by Dr. Zhou Pengwu, including but not limited to (i) incomes arising from the disposal of the Target Equity Interests (including derivative equity interest of the Target Equity Interests) under any circumstance; (ii) dividends and bonus obtained on the basis of the Target Equity Interests (including derivative equity interest of the Target Equity Interests) under any circumstance; (iii) residual assets and other economic profits allocated after the liquidation of the Relevant Subsidiaries, and (iv) any other cash income, property and economic benefit arising from the Target Equity Interests (including derivative equity interest of the Target Equity Interests), shall be transferred to Shenzhen Pengai Investment. Upon the execution of each economic interest transfer agreement, the repayment obligation of Dr. Zhou Pengwu under each loan agreement is deemed fully discharged. (iii). Exclusive option agreement Dr. Zhou Pengwu, Shenzhen Pengai Investment and each of the Relevant Subsidiaries entered into certain exclusive option agreements. Pursuant to these exclusive option agreements, Dr. Zhou Pengwu irrevocably granted Shenzhen Pengai Investment an exclusive right to purchase, or have its designated person(s) to purchase, at its discretion, all or part of his equity interest in the Relevant Subsidiaries, and the purchase price shall be the lowest price permitted by applicable PRC law. Each of Dr. Zhou Pengwu and the Relevant Subsidiaries undertakes that, among others, without the prior written consent of Shenzhen Pengai Investment, he or it shall or shall cause the Relevant Subsidiaries not to declare any dividends or distribute any residual profits, change or amend its articles of association, increase or decrease its registered capital, or change its structure of registered capital in other manners. In the event that Dr. Zhou Pengwu increases its capital injection into the Relevant Subsidiaries, Dr. Zhou Pengwu undertakes and confirms that any additional equity so acquired shall be subject to the purchase option. Unless terminated by Shenzhen Pengai Investment at its sole discretion, the exclusive option agreement will remain effective until all equity interest in the Relevant Subsidiaries held by Dr. Zhou Pengwu are transferred or assigned to Shenzhen Pengai Investment or its designated person(s). 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (iv). Power of attorney Pursuant to relevant power of attorney executed by Dr. Zhou Pengwu, he has irrevocably authorized Shenzhen Pengai Investment or its designated person(s) to exercise all of such shareholder’s voting and other rights associated with the Target Equity Interests in each of the Relevant Subsidiaries, including but not limited to, the right to attend shareholder meetings, the right to vote, the right to sell, transfer, pledge or dispose of the Target Equity Interests and the right to appoint legal representatives, directors and other management. The proxy agreement remains effective as long as Dr. Zhou Pengwu remains a shareholder of the Relevant Subsidiaries, unless Shenzhen Pengai Investment has given contrary written instructions. (v). Equity interest pledge agreement Dr. Zhou Pengwu as pledgor, Shenzhen Pengai Investment as pledgee, and each of the Relevant Subsidiaries entered into certain equity interest pledge agreements. Pursuant to these equity interest pledge agreements, Dr. Zhou Pengwu has pledged all of the Target Equity Interests in Relevant Subsidiaries and agreed to pledge all future equity interest in the Relevant Subsidiaries acquired by him to Shenzhen Pengai Investment to guarantee the performance by Dr. Zhou Pengwu and the Relevant Subsidiaries of their respective obligations under the loan agreement, the economic interest transfer agreement, the exclusive option agreement and the power of attorney. If the Relevant Subsidiaries or Dr. Zhou Pengwu breach any obligations under these agreements, Shenzhen Pengai Investment, as pledgee, will be entitled to dispose of the pledged equity and have priority to be compensated by the proceeds from the disposal of the pledged equity. Dr. Zhou Pengwu shall not permit the existence of any security interest or other encumbrance on the pledged equity interest or any portion thereof, without the prior written consent of Shenzhen Pengai Investment and the Relevant Subsidiaries shall not assent to or assist in such actions. These equity interest pledge agreements will remain effective until Dr. Zhou Pengwu discharge all the obligations under the loan agreement, the economic interest transfer agreement, the exclusive option agreement and the power of attorney and the full payment of all direct, indirect and derivative losses and losses of anticipated profits, suffered by the pledgee, incurred as a result of any breach by Dr. Zhou Pengwu or the Relevant Subsidiaries under these agreements or invalidity, revocation and termination of any of these agreements. (vi). Spousal consent letter Pursuant to relevant spousal consent letters executed by Ms. Ding Wenting, she unconditionally and irrevocably agreed that the equity interest in each of the Relevant Subsidiaries held or to be held by Dr. Zhou Pengwu and registered or to be registered in his name will be disposed of pursuant to the loan agreement, the economic interest transfer agreement, the exclusive option agreement and the power of attorney. Ms. Ding Wenting agreed not to assert any rights over the equity interest in the Relevant Subsidiaries held or to be held by Dr. Zhou Pengwu. In addition, in the event that Ms. Ding Wenting obtains any equity interest in each of the Relevant Subsidiaries for any reason, she agreed to be bound by the Contractual Arrangements. (e) Risks in relation to the Contractual Arrangements In the opinion of the Company’s management, the Contractual Arrangements are in compliance with the current PRC laws and are legally binding and enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (e) Risks in relation to the Contractual Arrangements (Continued) In January 2015, the Ministry of Commerce (“MOFCOM”), released for public comment a proposed PRC law, the Draft Foreign Investment Enterprises (“FIE”) Law, that appears to include contractual arrangements within the scope of entities that could be considered to be FIEs, that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of “actual control”. If the Draft FIE Law is passed by the People’s Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to include the Company’s contractual arrangements, and as a result, the Relevant Subsidiaries could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of FIEs where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The Draft FIE Law is silent as to what type of enforcement action might be taken. If the restrictions and prohibitions on FIEs included in the Draft FIE Law are enacted and enforced in their current form, the Company’s ability to use the contractual arrangements and the Company’s ability to conduct business through the contractual arrangements could be severely limited. The Company’s ability to control the Target Equity Interests in the Relevant Subsidiaries also depends on the power of attorney exercised by Shenzhen Pengai Investment to vote on all matters requiring shareholders’ approvals in the Relevant Subsidiaries. As noted above, the Company believes these power of attorney are legally binding and enforceable but may not be as effective as direct equity ownership. In addition, if the Company’s corporate structure or the contractual arrangements were found to be in violation of any existing PRC laws and regulations, the PRC regulatory authorities could, within their respective jurisdictions: ● ● ● ● ● The imposition of any of these restrictions or actions may result in a material adverse effect on the Company’s ability to conduct its business. In addition, if the imposition of any of these restrictions causes the Company to lose the right to direct the activities of the Relevant Subsidiaries or the right to receive their economic benefits, the Company may no longer be able to consolidate the financial statements of the Relevant Subsidiaries. In the opinion of management, the likelihood of losing the benefits in respect of the Company’s current ownership structure or the contractual arrangements is remote. 2 Summary of significant accounting policies (Continued) 2.4 Associates An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 2o% 5o% If the ownership interest in an associate is reduced but significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income is reclassified to profit or loss where appropriate. The Group’s share of post-acquisition profit or loss is recognised in the statement of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognises the amount adjacent to ‘share of profit of investments accounted for using equity method’ in the consolidated statement of comprehensive income. Profits and losses resulting from upstream and downstream transactions between the Group and its associate are recognised in the Group’s financial statements only to the extent of unrelated investor’s interests in the associates. Unrealised losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group. Gain or losses on dilution of equity interest in associates are recognised in the consolidated statement of comprehensive income. 2.5 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker, which is the Board of Directors. In the respective periods presented, the Company had one single operating and reportable segment, namely the provision of non- surgical aesthetic medical services, surgical aesthetic medical services, other aesthetic medical services and general healthcare services. As the Company’s long-lived assets are substantially all located in the PRC and substantially all of the Company’s revenue is derived from within the PRC, no geographical information is presented. 2.6 Foreign currency translation (a) Functional and presentation currency Items included in the consolidated financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in RMB, which is the Company’s functional and the Group’s presentation currency. 2 Summary of significant accounting policies (Continued) 2.6 Foreign currency translation (Continued) (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re- measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in consolidated statement of comprehensive income. Exchange differences on Series A Preferred Shares, convertible note and exchangeable note liabilities were recorded in “fair value (loss)/gain of convertible redeemable preferred shares”, “fair value loss of convertible note” and “fair value (loss)/gain of exchangeable note liabilities”, respectively. (c) Group companies The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: (i) assets and liabilities for each balance sheet presented are translated at the closing rate at the reporting date; (ii) income and expenses for each statement of comprehensive income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and (iii) all resulting exchange differences are recognised in other comprehensive income. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. Currency translation differences arising are recognised in other comprehensive income. 2.7 Property, plant and equipment Property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the consolidated statement of comprehensive income during the financial period in which they are incurred. 2 Summary of significant accounting policies (Continued) 2.7 Property, plant and equipment (Continued) Depreciation of property, plant and equipment is calculated using the straight-line method to allocate cost of each asset to their residual values over their estimated useful lives, as follows: - Leasehold improvements Shorter of remaining lease term and the estimated useful lives of the assets - Right of use assets Shorter of the asset’s useful life and the lease term on a straight-line basis - Machinery and equipment 10 years - Office equipment, furniture, fixture and motor vehicles 5 - Buildings 20 The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within “general and administrative expenses” in the consolidated statement of comprehensive income. Gains and losses on lease modification relating to the full termination of the leases are recognised within “general and administrative expenses” in the consolidated statement of comprehensive income. 2.8 Investment properties Properties that are held for long-term rental yields or for capital appreciation or both, and that are not occupied by the companies in the Group, are classified as investment properties in the consolidated financial statements. Investment properties are carried at historical costs, including related transaction costs, less depreciation and impairment. Depreciation of the investment properties are calculated using the straight-line method to allocate cost over their estimated lives of 20 Subsequent expenditure is included to the asset’s carrying amount only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed in consolidated statement of comprehensive income during the financial periods in which they are incurred. 2.9 Intangible assets (a) Goodwill Goodwill arises on the acquisition of subsidiaries represents the excess of the consideration transferred, the amount of any non-controlling interest in the acquire and the acquisition- date fair value of any previous equity interest in the acquiree over the fair value of the identified net assets acquired. For the purpose of impairment testing, goodwill acquired in |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2021 | |
Financial risk management | |
Financial risk management | 3 Financial risk management 3.1 Financial risk factors The Group’s activities expose it to a variety of financial risks: market risk (including currency risk, fair value interest rate risk and cash flow interest rate risk), credit risk and liquidity risk. The Group’s overall risk management programme focuses on the unpredictability of financial markets and seeks to minimise potential adverse effects on the Group’s financial performance. (a) Market risk (i) Foreign exchange risk Majority of Group companies operate in the PRC and majority of the transactions are denominated in RMB which is the Company and other Group companies’ functional currency, except for the US$ denominated Series A Preferred Shares, convertible note and exchangeable note. With all other variables held constant, if the average exchange rate of RMB against US$ had strengthened or weakened by 5%, the Group’s post-tax results would increase or decrease by RMB267,000 (2020: RMB682,000). (ii) Credit risk The Group has no significant concentrations of credit risk. The carrying amounts of cash at banks, trade receivables, deposits and other receivables and amounts due from related parties included in the consolidated balance sheets represent the Group’s maximum exposure to credit risk in relation to its financial assets. The majority of the Group’s cash at banks are deposited in major reputable financial institutions located in the PRC. Most of the Group’s revenue are settled by cash or credit cards. Trade receivables of the Group are mainly due from financial institutions with sound financial standing. There has been no history of default in relation to these external parties. Management does not expect any losses arising from non-performance by these counterparties. Based on the Group’s historical experiences in collection of trade receivables, other receivables and amounts due from related parties, the directors consider the Group’s credit risk of these receivables to be low. 3 Financial risk management (Continued) 3.1 Financial risk factors (Continued) (a) Market risk (Continued) (ii) Credit risk (Continued) The Group considers that adequate provision for unrecoverable trade receivables, other receivables and amounts due from related parties has been made in the relevant accounting period after considering the Group’s experience in collection of trade receivables, other receivables and amounts due from related parties. Management does not expect any losses from non-performance by these counterparties. (iii) Cash flow and fair value interest-rate risk The Group’s income and operating cash flows are substantially independent of changes in market interest rates as the Group has no significant interest-bearing assets except for cash at banks. The Group’s exposures to changes in interest rates are mainly attributable to its borrowings and loans. Borrowings issued at variable rates expose the Group to cash flow interest rate risk which is partially offset by cash held at variable rates. At reporting date, if interest rates on borrowings had been 10 basis points higher/ lower with all other variables held constant, the Group’s post-tax results for the year would have been RMB48,070 (2020: ) lower/higher respectively, mainly as a result of higher/lower interest expense on floating rate borrowings. (b) Liquidity risk The Group is exposed to liquidity risk due to the impact of COVID–19 and it had net current liabilities of RMB427,947,000 as at 31 December 2021. As detailed in Note 2.1, the directors of the Company concluded that the Group has sufficient financial resources to meet its financial obligations as and when they fall due in the coming twelve months after the issuance of this consolidated financial statements. Prudent liquidity management implies maintaining sufficient cash and cash equivalents and the availability of funding through an adequate amount of committed credit facilities. The Group’s primary cash requirements have been the payments for operating expenses and purchases of fixed assets. The Group mainly finances its working capital requirements through internal resources and proceeds from bank borrowings and issuance of ordinary shares. The Group’s policy is to regularly monitor current and expected liquidity requirements to ensure it maintains sufficient cash and cash equivalents and adequate amount of committed credit facilities to meet its liquidity requirements in the short and long term. At the reporting date, the contractual undiscounted cash flows of the Group’s current financial liabilities approximate their respective carrying amounts due to their short maturities. 3 Financial risk management (Continued) 3.1 Financial risk factors (Continued) (b) Liquidity risk (Continued) The table below analyses the Group’s non-derivative financial liabilities into relevant maturity groupings based on the remaining period at the reporting date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows, including interest if applicable. a. Series A Preferred Shares: The maximum exposure is the 100% of the issue price, plus an amount accruing at a rate of 10% per annum and any accrued but unpaid dividends on such shares (Note 25). b. b. Convertible note in 2016: The maximum exposure is the 100% of the issue price, plus an amount accruing at a rate of 15% per annum and any accrued but unpaid dividends on such shares (Note 26). c. Convertible note in 2020: The maximum exposure is the 100% of the issue price, plus an amount accruing at a rate of 15% per annum (Note 26). d. Exchangeable note liabilities: The maximum exposure is the 100% of the issue price, plus an amount accruing at a rate of 10% per annum and any accrued but unpaid dividends on such shares (Note 27). Less than Between 1 and Between 2 and After 1 year 2 years 5 years 5 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2020 Borrowings 146,764 54,657 25,194 — 226,615 Convertible note — — 44,565 — 44,565 Lease liabilities 48,301 44,887 106,592 67,290 267,070 Trade payables 33,654 — — — 33,654 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) 38,092 — — — 38,092 Amounts due to related parties 1,224 — — — 1,224 268,035 99,544 176,351 67,290 611,220 At 31 December 2021 Borrowings 160,646 77,948 — — 238,594 Convertible note — 38,059 — — 38,059 Lease liabilities 32,964 30,810 58,745 38,282 160,801 Trade payables 31,256 — — — 31,256 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) 43,396 — — — 43,396 Amounts due to related parties 473 — — — 473 268,735 146,817 58,745 38,282 512,579 3 Financial risk management (Continued) 3.2 Capital risk management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the dividend payments to shareholders, return capital to shareholders, issue new shares or to obtain bank borrowings. Consistent with others in the industry, the Group monitors capital on the basis of the gearing ratio. This ratio is calculated as net debt divided by total capital. Net debt is calculated as total borrowings (include current and non-current bank borrowings, convertible note, exchangeable note liabilities and Series A Preferred Shares as shown in the consolidated balance sheets) less cash and cash equivalents and restricted bank deposit. Total capital is calculated as “equity”, as shown in the consolidated balance sheets, plus net debt. The gearing ratios at 31 December 2020 and 2021 were as follows: 2020 2021 RMB’000 RMB’000 Total borrowings 211,745 233,815 Add: Convertible note (Note 26) 34,190 38,059 Less: Cash and cash equivalents (Note 18) (44,384) (39,289) Restricted cash (Note 18) (8,712) — Net debt 192,839 232,585 Total equity 425,736 (187,422) Total capital 618,575 45,163 Gearing ratio 31.2 % 514.99 % 3.3 Fair value estimation The table below analyses financial instruments carried at fair value as at 31 December 2020 and 2021 by level of the inputs to valuation techniques used to measure fair value. Such inputs are categorised into three levels with a fair value hierarchy as follows: ● ● ● The financial instrument carried at fair value was RMB 38,059,000 as at 31 December 2021. 3 Financial risk management (Continued) 3.3 Fair value estimation (Continued) The following table presents the Group’s financial liabilities that are measured at fair value as at 31 December 2021. See Note 13 for the fair value disclosure of the investment properties that are recorded under cost model. Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 As at 31 December 2021 Liabilities Financial liabilities at fair value through profit or loss - Convertible note (Note 26) — — 38,059 38,059 — — 38,059 38,059 The fair value of financial instruments that are not traded in an active market (for example, over- the-counter derivatives) is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. Specific valuation techniques used to value financial instruments include: ● ● There were no significant transfers of financial assets between level 1, level 2 and level 3 fair value hierarchy classifications. The following table presents the changes in level 3 liability instrument for the year ended 31 December 2020: Convertible note (Note 26) Total RMB’000 RMB’000 Opening balance — — Convertible note issued 33,474 33,474 Unrealised exchange difference (883) (883) Change in fair value 1,599 1,599 Closing balance 34,190 34,190 3 Financial risk management (Continued) 3.3 Fair value estimation (Continued) The following table presents the changes in level 3 liability instrument for the year ended 31 December 2021: Convertible note (Note 26) Total RMB’000 RMB’000 Opening balance 34,190 34,190 Unrealised exchange difference (371) (371) Change in fair value 4,240 4,240 Closing balance 38,059 38,059 |
Critical accounting estimates a
Critical accounting estimates and judgments | 12 Months Ended |
Dec. 31, 2021 | |
Critical accounting estimates and judgments | |
Critical accounting estimates and judgments | 4 Critical accounting estimates and judgments Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (a) Goodwill impairment assessment The Group tests annually whether goodwill has suffered any impairment, in accordance with the accounting policy stated in Note 2.9(a). The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require the use of estimates. The value-in-use calculations primarily use cash flow projections based on financial budgets approved by the Board of Directors. There is a number of assumptions and estimates involved in the preparation of cash flow projections for the periods covered by the approved budgets. Key assumptions include the expected growth rates, timing of future capital expenditures and selection of discount rates to reflect the risks involved. Management prepares the financial budgets reflecting actual and prior year performance and market development expectations. (b) Purchase price allocation The application of business combination accounting requires the use of significant estimates and assumptions. The purchase method of accounting for business combinations requires the Group to estimate the fair value of assets acquired and liabilities assumed to properly allocate purchase price consideration between assets that are depreciated and amortised from goodwill. This exercise requires the use of management’s assumptions, which would not reflect unanticipated events and circumstances that may occur. (c) Fair values of Series A Preferred Shares, convertible notes and exchangeable note liabilities The Series A Preferred Shares, convertible notes and exchangeable note liabilities are not traded in an active market and the respective fair values are determined by using valuation techniques. The directors have used the market comparable approach to determine the underlying equity value of the Company and adopted equity allocation model to determine the fair values of the Series A Preferred Shares, convertible notes and exchangeable note liabilities. 4 Critical accounting estimates and judgments (Continued) (d) Estimated useful lives of property, plant and equipment and intangible assets The Group’s management determines the estimated useful lives and related depreciation and the amortisation charges for the Group’s property, plant and equipment and intangible assets with reference to the estimated periods that the Group intends to derive future economic benefits from the use of these assets. Management performs periodic review of the estimated useful lives of property, plant and equipment and intangible assets, and will revise the depreciation and amortisation charges where estimated useful lives are different than those previously estimated. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2021 | |
Revenue | |
Revenue | 5 Revenue 2019 2020 2021 RMB’000 RMB’000 RMB’000 Non-surgical aesthetic medical services 489,569 452,670 334,248 Surgical aesthetic medical services 319,239 401,645 243,070 General healthcare services and other aesthetic medical services 60,242 47,258 68,275 869,050 901,573 645,593 Revenue is recognised at a point in time when the respective services are rendered. All of the contract liabilities as of 31 December 2020 (RMB8,639,000) and 2021 (RMB236,476,000) were recognised as revenue in the subsequent 12-month period. |
Expenses by nature
Expenses by nature | 12 Months Ended |
Dec. 31, 2021 | |
Expenses by nature | |
Expenses by nature | 6 Expenses by nature 2019 2020 2021 RMB’000 RMB’000 RMB’000 Employee benefit expenses (Note 7) 258,495 322,563 309,250 Advertising and marketing expenses 303,856 380,794 255,534 Cost of inventories and consumables 112,617 163,881 174,991 Operating lease rental expenses 8,986 4,860 15,836 Amortisation and depreciation 83,834 106,405 99,135 Utilities and office expenses 51,271 52,666 76,579 Travelling and entertainment expenses 28,173 17,136 12,818 Bank charges 5,158 4,350 3,213 Loss on disposal of property, plant and equipment 1,444 915 — Legal and professional fees 6,032 19,273 30,570 Other expenses 25,479 25,207 9,820 885,345 1,098,050 987,746 |
Employee benefit expenses
Employee benefit expenses | 12 Months Ended |
Dec. 31, 2021 | |
Employee benefit expenses | |
Employee benefit expenses | 7 Employee benefit expenses 2019 2020 2021 RMB’000 RMB’000 RMB’000 Wages and salaries 186,716 225,085 250,773 Share-based compensation expenses 47,788 78,967 35,463 Pension costs - defined contribution plans 12,935 5,841 16,942 Other staff welfare expenses 11,056 12,670 6,072 258,495 322,563 309,250 |
Finance income and costs
Finance income and costs | 12 Months Ended |
Dec. 31, 2021 | |
Finance income and costs | |
Finance income and costs | 8 Finance income and costs 2019 2020 2021 RMB’000 RMB’000 RMB’000 Finance costs Interest expense on bank borrowings (6,055) (8,897) (7,844) Interest expense on other borrowings (1,327) (3,599) (6,542) Interest expense on convertible note (4,144) — — Interest expense on lease liabilities (12,767) (16,693) (12,844) (24,293) (29,189) (27,230) Finance income Interest income on short-term bank deposits 388 1,185 113 Finance costs – net (23,905) (28,004) (27,117) |
Income tax expense
Income tax expense | 12 Months Ended |
Dec. 31, 2021 | |
Income tax expense | |
Income tax expense | 9 Income tax expense PRC corporate income tax have been provided for subsidiaries established and operating in Mainland China at the rate of 25% (2019 and 2020: 25%) on the estimated assessable profit for the year. 2019 2020 2021 RMB’000 RMB’000 RMB’000 Current tax PRC enterprise income tax 20,393 486 8,208 Deferred tax Origination and reversal of temporary differences (Note 21) (6,357) (13,073) (20,006) Income tax expense/(credit) 14,036 (12,587) (11,798) The taxation on the Group’s (loss)/profit before income tax differs from the theoretical amount that would arise using the taxation rate of PRC, the principal place of the Group’s operations, as follows: 2019 2020 2021 RMB’000 RMB’000 RMB’000 Profit/(loss) before income tax 152,364 (259,492) (681,314) Calculated at a taxation rate of 25% 38,091 (64,873) (170,329) Expenses not tax deductible 25,920 42,824 42,450 Income not subject to tax (50,693) (1,165) — Utilisation of previously unrecognised tax losses — (428) — Recognition of previously unrecognised temporary difference 384 (520) — Tax losses not recognized 2,369 13,034 117,454 Difference in overseas tax rates (124) 351 (304) Under‑provision in respect of prior years — — — Over‑provision in respect of prior years (1,727) (1,810) (1,069) Effect of preferential tax rates (184) — — Income tax expense/(credit) 14,036 (12,587) (11,798) 9 Income tax expense (Continued) (a) Cayman Islands Income Tax The Company is incorporated in the Cayman Islands as an exempted company with limited liability under the Companies Law of Cayman Islands and accordingly, is exempted from Cayman Islands income tax. (b) Hong Kong Profits Tax Hong Kong profits tax rate has been provided at the rate of 16.5%on the estimated assessable profit for each of the years ended 31 December 2019, 2020 and 2021. (c) PRC Enterprise Income Tax (“EIT”) The income tax provision of the Group in respect of operations in the PRC has been calculated at the tax rate of 25%on the estimated assessable profits for each of the year, based on the existing legislation, interpretations and practices in respect thereof. (d) Singapore Corporation income tax The income tax provision of the Group in respect of operations in the Singapore has been calculated at the tax rate of 17%on the estimated assessable profits for each of the year, based on the existing legislation, interpretations and practices in respect thereof. |
(Loss)_earnings per share
(Loss)/earnings per share | 12 Months Ended |
Dec. 31, 2021 | |
(Loss)/earnings per share | |
(Loss)/earnings per share | 10 (Loss)/earnings per share (a) Basic (loss)/earnings per share Basic earnings per share (“EPS”) is calculated by dividing the profit/(loss) attributable to owners of the Company by the weighted average number of ordinary shares in issue during the year. (b) Diluted (loss)/earnings per share Diluted (loss)/earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. For the year ended 31 December 2019, the Company has four categories of dilutive securities: Series A Preferred Shares, convertible note, exchangeable note and share option. These dilutive securities are assumed to have been converted into ordinary shares, and the net profits for the year is adjusted to eliminate the fair value gain or loss of these dilutive potential ordinary shares less related income tax effect. For the year ended 31 December 2020 and 2021, the Company has two categories of dilutive securities: Convertible note and share option. These dilutive securities are assumed to have been converted into ordinary shares, and the net losses for the year is adjusted to eliminate the fair value gain or loss of these dilutive potential ordinary shares less related income tax effect. 10 (Loss)/earnings per share (Continued) (b) The following table sets forth the computation of basic and diluted (loss)/profit per share: 2019 2020 2021 RMB’000 RMB’000 RMB’000 (Note i) (Note ii) (Note ii) Numerator: (Loss)/profit attributable to owners of the Company – basic 136,309 (235,479) (586,619) Reversal of fair value gain of: -Series A Preferred Shares (136,656) — — -Convertible note — — — -Exchangeable note liabilities (45,274) — — Reversal of interest expense on convertible note — — — Share based compensation — — — (Loss)/profit attributable to owners of the Company – diluted (45,621) (235,479) (586,619) Shares (denominator): Weighted average number of shares – basic 46,097,963 65,297,485 65,960,235 Conversion of Series A Preferred Shares 12,693,699 — — Conversion of convertible note — — — Conversion of exchangeable note liabilities 4,863,438 — — Cancellation of ordinary shares due to conversion of exchangeable note liabilities (4,863,438) — — Weighted average number of shares – diluted 58,791,662 65,297,485 65,960,235 (Loss)/earnings per share – basic (RMB) 2.96 (3.61) (8.89) Loss per share – diluted (RMB) (0.78) (3.61) (8.89) Note i The potential outstanding shares related to share option and the conversion of convertible note would be anti-dilutive and therefore, related changes in fair value and interest expense are not included in the computation of diluted loss per share. Note ii As the Group incurred loss for the year ended 31 December 2020 and 2021, share option and the conversion of convertible note would be anti-dilutive and therefore, related changes in fair value is not included in the computation of diluted loss per share. Diluted loss per share and basic loss per share are the same for the year ended 31 December 2020 and 2021. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, plant and equipment | |
Property, plant and equipment | 11 Property, plant and equipment Office equipment, Machinery furniture fixtures Leasehold and and motor Right of use Buildings improvements equipment vehicles assets Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2020 Opening net book amount 48,349 186,237 71,806 16,530 196,401 519,323 Additions — 31,669 6,718 1,651 36,675 76,713 Transfer from investment properties 14,330 — — — — 14,330 Impairment loss (Note 14) — (364) (841) (119) (4,712) (6,036) Disposal — (815) (61) (50) (3,421) (4,347) Business combination (Note 29) — 29,481 15,571 6,486 147,757 199,295 Disposal of subsidiaries (Note 30) — (27,440) (13,353) (5,173) (123,655) (169,621) Depreciation charges (2,044) (23,124) (14,179) (4,535) (53,350) (97,232) Translation adjustments — (43) (39) (402) — (484) Closing net book amount 60,635 195,601 65,622 14,388 195,695 531,941 Year ended 31 December 2020 At 31 December 2020 Cost 64,737 317,013 174,560 39,452 267,701 863,463 Accumulated depreciation and impairment (4,102) (121,412) (108,938) (25,064) (72,006) (331,522) Net book amount 60,635 195,601 65,622 14,388 195,695 531,941 At 31 December 2021 Opening net book amount 60,635 195,601 65,622 14,388 195,695 531,941 Additions — 34,734 40,617 3,377 3,321 82,049 Transfer from investment properties — — — — — — Impairment loss (Note 14) — (76,375) (14,352) (4,453) (44,638) (139,818) Disposal — (3,675) (8,539) (4,271) (3,612) (20,097) Business combination (Note 29) — 527 557 — 2,159 3,243 Disposal of subsidiaries (Note 30) — (975) (1,635) (605) (524) (3,739) Depreciation charges (3,399) (39,933) (14,871) (3,009) (31,953) (93,165) Translation adjustments — (68) (1,179) (418) — (1,665) Closing net book amount 57,236 109,836 66,220 5,009 120,448 358,749 Year ended 31 December 2021 At 31 December 2021 Cost 64,739 302,000 132,655 27,756 208,559 735,709 Accumulated depreciation and impairment (7,503) (192,164) (66,435) (22,747) (88,111) (376,960) Net book amount 57,236 109,836 66,220 5,009 120,448 358,749 As at 31 December 2020 and 2021, property, plant and equipment with net book value amounting to approximately RMB 65,244,000 and RMB57,238,000, respectively, were pledged as security for the bank and other borrowings. |
Lease
Lease | 12 Months Ended |
Dec. 31, 2021 | |
Lease | |
Lease | 12 Lease (a) Amounts recognised in the balance sheet: Right-of-use assets is classified as property, plant and equipment (Note 11). As at As at As at 1 January 31 December 31 December 2020 2020 2021 RMB RMB RMB Lease liabilities Current 36,266 35,868 28,278 Non-current 165,615 178,983 105,754 201,881 214,851 134,032 (b) Amounts recognised in the consolidated statement of comprehensive income: 2019 2020 2021 RMB RMB RMB Interest expense (included in finance costs) (Note 8) 12,767 16,693 12,844 Expense relating to short-term leases (included in cost of goods sold and administrative expenses) 8,986 4,860 15,836 The total cash outflow for leases in 2021 was approximately RMB50,575,000 (2020: RMB59,646,000). |
Investment properties
Investment properties | 12 Months Ended |
Dec. 31, 2021 | |
Investment properties | |
Investment properties | 13 Investment properties 2020 2021 RMB’000 RMB’000 Cost At 1 January 27,824 — Additions — — Transfer to owner-occupied property (27,824) — At 31 December — — Accumulated depreciation At 1 January (12,451) — Charge for the year (1,043) — Transfer to owner-occupied property 13,494 — At 31 December — — Net book amount — — Investment properties represents buildings held in the PRC, with useful lives of 20 years in 2019. Investment properties with net book value amounting to approximately RMB15,373,000 in 2019 were pledged as security for the bank loans at the reporting date. Amounts recognised in the consolidated income statement for investment properties: 2019 2020 2021 RMB’000 RMB’000 RMB’000 Rental income 1,401 851 — |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2021 | |
Intangible assets | |
Intangible assets | 14 Intangible assets Computer Medical Goodwill software licenses Tradenames Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Year ended 31 December 2020 Opening net book amount 115,180 9,521 — 50,716 175,417 Additions — 282 — — 282 Business combination (Note 29) 148,564 220 — 81,197 229,980 Disposal of subsidiaries (Note 30) (102,971) (233) — (58,325) (161,529) Amortisation — (2,098) — (6,032) (8,130) Impairment loss (Note) (18,809) — — (8,124) (26,933) Translation adjustments (652) — — (7) (658) Closing net book amount 141,312 7,692 — 59,425 208,429 At 31 December 2020 Cost 161,527 13,393 11,178 76,236 262,334 Impairment (20,215) — — (8,124) (28,339) Accumulated amortisation — (5,701) (11,178) (8,687) (25,566) Net book amount 141,312 7,692 — 59,425 208,429 Year ended 31 December 2021 Opening net book amount 141,312 7,692 — 59,425 208,429 Additions — 251 — — 251 Disposal — (1,350) — — (1,350) Business combination (Note 29) 14,697 19 — 2,400 17,116 Disposal of subsidiaries (Note 30) (735) (146) — (10,623) (11,504) Amortisation — (1,797) — (4,173) (5,970) Impairment loss (Note) (122,099) (3,956) — (43,679) (169,734) Translation adjustments — — — — — Closing net book amount 33,175 713 — 3,350 37,238 At 31 December 2021 Cost 54,389 12,010 9,585 4,637 80,621 Impairment (21,214) (3,954) — (719) (25,887) Accumulated amortisation — (7,343) (9,585) (568) (17,496) Net book amount 33,175 713 — 3,350 37,238 Note: Goodwill of RMB148,564,000 and RMB14,697,000 arose from acquisitions of subsidiaries in 2020 and 2021 respectively. The subsidiaries are principally engaged in the provision of non-surgical aesthetic treatments and surgical aesthetic treatments in the PRC. 14 Intangible assets (Continued) During the year ended 31 December 2020, the Company decided to strategically focus on treatment centres in East China, South China and Southwest China and devote much less resources to treatment centres in other regions of China. As a result, the Company recognized impairment of goodwill of RMB18,809,000, tradenames of RMB8,124,000 and property, plant and equipment of RMB6,036,000 of certain treatment centres in other regions of China. During the year ended 31 December 2021, the Company decided to strategically focus on treatment centres in East China, South China and Southwest China and devote much less resources to treatment centres in other regions of China. As a result, the Company recognized impairment of goodwill of RMB122,099,000 (2020: RMB18,809,000), tradenames of RMB43,679,000 (2020: RMB8,124,000), computer software of RMB3,956,000 (2020: nil), property, plant and equipment of RMB139,818,000 (2020: RMB6,036,000) and associate of RMB4,407,000 (2020: nil) of certain treatment centres in other regions of China. Management reviews the business performance of each operating entity (also regarded as a CGU). Goodwill is allocated to relevant operating entities. The recoverable amount of a CGU is determined based on a value-in-use calculation. It is calculated using pre-tax cash flow projections based on financial budgets approved by management covering a five-year 2020 2021 Annual compound revenue growth rate 8.1% ~ 21.0% 6.0% ~ 10.0% Annual gross profit ratio 55.2% ~ 80.3% 57.7% ~ 75.0% Discount rate 16% ~ 17.1% 16% Management considers their experience and expertise knowledge in the aesthetic medical treatment business in the PRC, a cash flow period of five years Management determined budgeted gross margin based on past performance and its expectations of the market development. The average annual revenue growth rate used is consistent with the forecasts of the market. The discount rate used is pre-tax and reflects specific risks relating to the entity. The cash flows beyond the five year |
Investments accounted for using
Investments accounted for using the equity method | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using the equity method | |
Investments accounted for using the equity method | 15 Investments accounted for using the equity method 2020 2021 RMB’000 RMB’000 At 1 January 10,256 8,330 Acquisition — 900 Disposal (883) — Impairment — (4,407) Share of loss (1,043) 81 At 31 December 8,330 4,904 Set out below are the associates of the Group as at 31 December 2020 and 2021 which, in the opinion of the directors, are material to the Group. The associates as listed below have share capital consisting solely of ordinary shares, which are held directly by the Group. The places of establishment are also their principal places of business. 15 Investments accounted for using the equity method (Continued) Nature of investments in associates as at 31 December 2020 and 2021: Place of % of ownership Nature of the Measurement Name of entity establishment 2020 2021 relationship method Moyan (Shenzhen) Network Technology Co., Ltd. The PRC 46 % 46 % Note 1 Equity (美約(深圳)網路技術有限公司) Mendis Aesthetic PTE. Ltd. Singapore 44.4 % 44.4 % Note 2 Equity Jinan Pengai Meikang Aesthetic Medical Clinic Co., Ltd. (濟南鵬愛美康醫療美容診所有限公司) The PRC — % 30 % Note 3 Equity Shenzhen Huayanyuese Health Management Consulting Co., Ltd. (深圳市花顔悅色健康管理咨詢有限公司) The PRC — % 30 % Note 4 Equity Note 1: Moyan (Shenzhen) Network Technology Co., Ltd. (“Moyan”) is engaged in internet marketing services. Note 2: Mendis Aesthetic PTE. Ltd. (“Mendis”) is engaged in the provision of aesthetic medical services. The Company’s subsidiary Aesthetic Medical International Holdings (Singapore) Pte. Ltd (the “Seller”) signed a Share Purchase Agreement with Mr. Mendis Ajit Rohan (the “Purchaser”), where the Purchaser will purchase 22.2 % and 22.2 % shares in Mendis Aesthetic Pte. Ltd held by the Seller in two tranches. Note 3: Jinan Pengai Meikang Aesthetic Medical Clinic Co., Ltd. is engaged in the provision of aesthetic medical services. Note 4: Shenzhen Huayanyuese Health Management Consulting Co., Ltd. is engaged in investment holding and provision of management services. Moyan, Mendis, Jinan Pengai Meikang Aesthetic Medical Clinic Co., Ltd. and Shenzhen Huayanyuese Health Management Consulting Co., Ltd. are private companies and there are no quoted market prices available for their shares. Summarised financial information for associates Set out below are the summarised financial information for investments accounted for using the equity method: Summarised balance sheet 2020 2021 RMB’000 RMB’000 Current Cash and cash equivalents 1,476 1,108 Other current assets (excluding cash and cash equivalents) 1,614 295 Total current assets 3,090 1,403 Financial liabilities (excluding trade payables) (1,077) (14) Lease liabilities — — Other current liabilities (including trade payables) (99) (425) Total current liabilities (1,176) (439) Total non-current assets 6,150 3,050 Net assets 8,064 4,014 15 Investments accounted for using the equity method (Continued) Summarised statement of comprehensive income 2020 2021 RMB’000 RMB’000 Revenue 5,317 1,951 Depreciation and amortisation (159) (69) Interest expense (297) (22) Loss before income tax (1,279) 354 Income tax expense — — Loss for the year (1,279) 354 The information above reflects the amounts presented in the financial statements of the associates (and not the Group’s share of those amounts) adjusted for differences in accounting policies between the Group and the associates. |
Trade and other receivables, de
Trade and other receivables, deposits and prepayments | 12 Months Ended |
Dec. 31, 2021 | |
Trade and other receivables, deposits and prepayments | |
Trade and other receivables, deposits and prepayments | 16 Trade and other receivables, deposits and prepayments 2020 2021 RMB’000 RMB’000 Trade receivables 14,324 7,772 Other receivables 53,566 1,550 Deposits 58,212 15,204 Prepayments 35,811 31,471 Advances to employees 2,976 41 150,565 48,266 Less: Non-current portion Prepayments and deposits (51,850) (16,574) Current portion 98,715 31,692 The carrying amounts of trade and other receivables, deposits and prepayments are denominated in RMB and approximate their fair values. Trade receivables are all aged within 30 days and are neither past due or impaired. The maximum exposure to credit risk as at 31 December 2020 and 2021 is the carrying value of each class of receivable mentioned above. As at 31 December 2020, other receivables balance included consideration receivable related to disposal of subsidiaries amounted to RMB41,000,000, see details in Note 30(e). |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Inventories | |
Inventories | 17 Inventories 2020 2021 RMB’000 RMB’000 Pharmaceuticals 2,942 914 Medical cnaonsumables 30,394 29,652 33,336 30,566 The cost of inventories recognised as expense and included in cost of inventories and consumables amounted to RMB174,991,000 (2020: RMB163,881,000). |
Restricted cash and cash and ba
Restricted cash and cash and bank balances | 12 Months Ended |
Dec. 31, 2021 | |
Restricted cash and cash and bank balances | |
Restricted cash and cash and bank balances | 18 Restricted cash and cash and bank balances 2020 2021 RMB’000 RMB’000 Restricted cash 8,712 — 2020 2021 RMB’000 RMB’000 Cash and cash equivalents Cash at banks 38,852 35,685 Time deposit 5,279 3,000 Cash on hand 253 604 Total 44,384 39,289 The analysis of bank and cash balances for the purpose of the consolidated statement of cash flows is as follows: 2020 2021 RMB’000 RMB’000 Cash and cash equivalents 44,384 39,289 The carrying amounts of the Group’s restricted bank deposit and cash and cash equivalents are denominated in the following currencies: 2020 2021 RMB’000 RMB’000 RMB 33,478 31,021 US dollars 18,199 7,125 Hong Kong dollars 567 6 Singapore dollars 852 1,137 53,096 39,289 Cash at banks earns interest at floating rates based on daily bank deposit rates. The Group’s balances of cash at bank which are denominated in RMB are deposited with banks in the PRC. The conversion of these RMB-denominated balances into foreign currencies and the remittance of funds out of the Mainland China are subject to the rules and regulations of foreign exchange control promulgated by the Government of the PRC. Restricted cash represents cash reserved in escrow account in relation to litigations (Note 34(c)). |
Share capital
Share capital | 12 Months Ended |
Dec. 31, 2021 | |
Share capital | |
Share capital | 19 Share capital Ordinary shares of USD 0.001 each Number of Nominal Nominal shares value value USD’000 RMB’000 Authorised: As at 1 January 2019 121,983,052 122 802 Increase of authorised shares 1,378,016,948 1,378 9,797 As at 31 December 2019, 1 January 2020, “31 December 2020,” 1 January 2021 and 31 December 2021 1,500,000,000 1,500 10,599 Issued and paid: As at 1 January 2019 41,798,219 42 265 Issuance of shares held as treasury shares (Note 32) 5,940,452 6 41 Issuance of shares upon initial public offering (Note i) 7,500,000 8 53 Preferred shares converted into ordinary share upon initial public offering (Note ii) 15,600,000 16 110 As at 31 December 2019, 1 January 2020, 31 December 2020, 1 January 2021 and 31 December 2021 70,838,671 72 469 On October 25, 2019, the Company was listed on NASDAQ Global market in the United States and issued 2,500,000 American Depositary Shares (representing 7,500,000 ordinary shares of the Company). Note ii: On October 25, 2019, upon completion of the Company’s initial public offering, 15,600,000 of convertible redeemable preferred shares were converted into 15,600,000 ordinary shares (Note 25). Note iii: On 13 October 2020, the Company announced that its board of directors had approved a share repurchase program, under which the Company was authorized to repurchase in the open market up to US$6.0 million worth of its American depositary shares (“ADSs”) from time to time until 12 October 2021, depending on general market conditions, trading price and other factors, as well as subject to the applicable laws and the Company’s securities trading policy. During the applicable period, 135,000 ordinary shares were repurchased as treasury shares with a total consideration of approximately RMB2 million. |
Other reserves
Other reserves | 12 Months Ended |
Dec. 31, 2021 | |
Other reserves | |
Other reserves | 20 Other reserves Share ‑ based Capital Merger Statutory compensation Other reserve reserve reserve reserve reserve Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Note (a) Note (b) Note (c) Note (d) Note (e) At 1 January 2019 61,303 (10,000) 37,962 67,960 (61,980) 95,245 Translation of foreign operations — — — — 672 672 Transfer to statutory reserve — — 4,621 — — 4,621 Further acquisition of interests in a subsidiary (Note 31) — — — — (5,741) (5,741) Partial disposal of interests in a subsidiary without loss of control (Note 31) — — — — 493 493 Share-based payment reserve — — — 47,788 — 47,788 Issuance of shares upon initial public offering 211,906 — — — — 211,906 Transaction costs related to issuance of shares upon initial public offering (45,516) — — — — (45,516) Preferred shares converted into ordinary share upon initial public offering 339,346 — — — — 339,346 Exchangeable note converted into ordinary share upon initial public offering 140,471 — — — — 140,471 At 31 December 2019 and 1 January 2020 707,510 (10,000) 42,583 115,748 (66,556) 789,285 At 31 December 2019 and 1 January 2020 707,510 (10,000) 42,583 115,748 (66,556) 789,285 Translation of foreign operations — — — — (731) (731) Transfer to statutory reserve — — 194 — — 194 Further acquisition of interests in a subsidiary (Note 31) — — — — 92 92 Partial disposal of interests in a subsidiary without loss of control (Note 31) — — — — 2,548 2,548 Share-based payment reserve — — — 78,967 — 78,967 Share re-purchase — — — — — — At 31 December 2020 707,510 (10,000) 42,777 194,715 (64,647) 870,355 At 31 December 2020 and 1 January 2021 707,510 (10,000) 42,777 194,715 (64,647) 870,355 Translation of foreign operations — — — — 574 574 Further acquisition of interests in a subsidiary (Note 31) 380 — — — (935) (555) Partial disposal of interests in a subsidiary without loss of control (Note 31) — — — — 3,575 3,575 Share-based payment reserve — — — 35,462 — 35,462 At 31 December 2021 707,890 (10,000) 42,777 230,177 (61,433) 909,411 Notes (a) Capital reserve The capital reserve mainly represents capital contribution made by an owner and shareholders of the Company. 20 Other reserves (Continued) (b) Merger reserve Merger reserve is mainly attributable to business combinations under common control. (c) Statutory reserve In accordance with the PRC regulations and the articles of association of the companies now comprising the Group, before distributing the net profit of each year, companies registered in the PRC are required to set aside 10% of its statutory net profit for the year after offsetting any prior year’s losses as determined under relevant PRC accounting standards to the statutory surplus reserve fund. When the balance of such reserve reaches 50% of each company’s share capital, any further appropriation is optional. (d) Share-based compensation reserve As at 1 January 2018, share-based compensation reserve amounting to RMB67,960,000 was attributable to share options which were granted to certain consultants and employees of the Group in previous years and fully lapsed in 2015. On 1 June 2019, the Group has adopted a share-based compensation plan. For the year ended 31 December 2021, share-based compensation expenses amounting to RMB35,462,000 (2020: RMB78,967,000) was charged to share-based compensation reserve (Note 32). (e) Other reserve Other reserve mainly represents the differences of carrying amount of non-controlling interests acquired, consideration paid to non-controlling interests and reduction of reserve as a result of the issuance of exchangeable note liabilities (Note 27). |
Deferred income tax
Deferred income tax | 12 Months Ended |
Dec. 31, 2021 | |
Deferred income tax | |
Deferred income tax | 21 Deferred income tax 2020 2021 RMB’000 RMB’000 The deferred tax assets comprise temporary differences attributable to: - Tax losses 27,988 43,323 - Others 4,658 2,442 32,646 45,765 The deferred tax liabilities comprise temporary differences attributable to: - Medical licenses and tradenames (14,425) (285) - Others (226) — (14,651) (285) 21 Deferred income tax (Continued) Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current income tax assets against current income tax liabilities and when the deferred income taxes relate to the same fiscal authority. The balances shown in the consolidated balance sheets are, after appropriate offsetting, as follows: 2020 2021 RMB’000 RMB’000 Deferred income tax assets: - Deferred income tax assets to be recovered after more than 12 months 31,363 45,765 - Deferred income tax assets to be recovered within 12 months 9 — 31,372 45,765 Deferred income tax liabilities: - Deferred income tax liabilities to be settled after more than 12 months (12,107) (285) - Deferred income tax liabilities to be settled within 12 months (1,270) — (13,377) (285) Deferred income tax assets – net 17,995 45,480 The movement in deferred income tax assets and liabilities during the year, without taking into consolidation the offsetting of balances within the same taxation jurisdiction is as follows: The gross movement on deferred income tax accounts is as follows: 2020 2021 RMB’000 RMB’000 At 1 January 7,071 17,995 Acquisition of subsidiaries (Note 29) (1,385) — Disposal of subsidiaries (Note 30) (750) 7,479 Credited to consolidated statement of comprehensive income 13,073 20,006 Translation adjustment (14) — At 31 December 17,995 45,480 Deferred income tax assets Tax losses Others Total RMB’000 RMB’000 RMB’000 At 1 January 2020 17,478 2,422 19,900 Acquisition of a subsidiary (Note 29) 13,422 5,492 18,914 Disposal of a subsidiary (Note 30) (10,017) (5,314) (15,331) Credited to consolidated statement of comprehensive income 7,135 2,058 9,193 Translation adjustment (30) — (30) At 31 December 2020 and 1 January 2021 27,988 4,658 32,646 Acquisition of subsidiaries (Note 29) — — — Disposal of subsidiaries (Note 30) (6,144) (743) (6,887) Credited to consolidated statement of comprehensive income 21,479 (1,473) 20,006 Translation adjustment — — — At 31 December 2021 43,323 2,442 45,765 21 Deferred income tax (Continued) Deferred income tax liabilities Medical licenses and tradenames Others Total RMB’000 RMB’000 RMB’000 At 1 January 2020 12,248 581 12,829 Acquisition of a subsidiary (Note 29) 20,297 — 20,297 Disposal of subsidiaries (Note 30) (14,581) — (14,581) (Credited)/charge to consolidated statement of comprehensive income (3,539) (341) (3,880) Translation adjustment — (14) (14) At 31 December 2020 and 1 January 2021 14,425 226 14,651 Acquisition of subsidiaries (Note 29) — — — Disposal of subsidiaries (Note 30) (14,140) (226) (14,366) Credited to consolidated statement of comprehensive income — — — Translation adjustment — — — At 31 December 2021 285 — 285 Deferred income tax assets are recognised for tax loss carry-forwards to the extent that the realisation of the related tax benefit through the future taxable profits is probable. The Group has unrecognised tax losses as at 31 December 2021 of RMB91,221,000 (2020: RMB71,862,000) which can be carried forward against future taxable income and their expiry dates are as follows: 2020 2021 RMB’000 RMB’000 Tax loss expiring within 5 years 71,862 91,221 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
Borrowings | |
Borrowings | 22 Borrowings 2020 2021 RMB’000 RMB’000 Non ‑ current Bank borrowings - secured 23,770 23,470 - non-secured 10,060 — Other borrowings - secured 42,101 54,137 75,931 77,607 Current Bank borrowings - secured 38,491 82,680 - non-secured 39,575 — Other borrowings - secured 57,748 73,528 135,814 156,208 211,745 233,815 The carrying amounts of borrowings approximate their fair values and are denominated in RMB. The effective interest rates on the borrowings from banks was as 6.9% at 31 December 2021 . Bank borrowings are secured by the following: (i) property, plant and equipment and investment properties of the Group (Note 11 and Note 13); (ii) personal properties provided by Dr. Zhou Pengwu and Ms. Ding Wenting (Note 35(d)); (iii) personal guarantee provided by Dr. Zhou Pengwu, Dr. Zhou Yitao and Ms. Ding Wenting, Mr Zhou Xichun (Note 35(d)); and (iv) corporate guarantee provided by a related company controlled by Dr. Zhou Pengwu (Note 35(d)). Other borrowings are secured by the following: (i) property, plant and equipment of the Group (Note 11); and (ii) |
Trade and accruals, other payab
Trade and accruals, other payables and provisions | 12 Months Ended |
Dec. 31, 2021 | |
Trade and accruals, other payables and provisions | |
Trade and accruals, other payables and provisions | 23 Trade and accruals, other payables and provisions 2020 2021 RMB’000 RMB’000 Trade payables 33,654 31,256 Accrued employee benefits 21,327 26,458 Accrued operating expenses 7,648 5,516 Accrued professional service fees 12,050 9,857 Deposits received 1,122 826 Duty and tax payable other than corporate income tax 8,242 2,172 Other payables to suppliers of plant and equipment 6,909 779 Others 11,485 27,240 102,437 104,104 The carrying amounts of trade and other payables are denominated in RMB. The carrying amounts approximate their fair values due to their short-term maturities. |
Contract liabilities
Contract liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Contract liabilities | |
Contract liabilities | 24 Contract liabilities 2020 2021 RMB’000 RMB’000 Advance receipt for treatment packages 8,639 236,476 As at end of 31 December 2021, the contract liabilities are aged within one year from the date when the sales contracts in respect of treatment packages were entered into. |
Convertible redeemable preferre
Convertible redeemable preferred shares | 12 Months Ended |
Dec. 31, 2021 | |
Convertible redeemable preferred shares | |
Convertible redeemable preferred shares | 25 Convertible redeemable preferred shares On 9 March 2012, the Company entered into a share purchase agreement, and pursuant to which, the Company issued 15,600,000 Series A Preferred Shares at a price of US$1 per share with total amount of US$15,600,000 (equivalent to approximately RMB98,132,000). The par value of Series A Preferred Shares is US$1 each. The issuance of the Series A Preferred Shares closed on 27 July 2012. The key terms of the Series A Preferred Shares are summarised as follows: (a) Dividends rights The holders of Series A Preferred Shares will be entitled to receive in preference to the holders of the ordinary shares a per share amount equal to 8% of the issue price per annum when it is declared by the Board of Directors. The holders of Series A Preferred Shares would be entitled to receive participating dividends if declared as if each outstanding Series A Preferred Shares had been converted into ordinary shares prior to the record date for dividend or distribution. Directors of the Company designated the dividends rights as an equity component. Directors consider the dividends rights do not have significant value. (b) Voting rights Each Series A Preferred Shares conveys the right to its holder of one vote for each ordinary share upon conversion. 25 Convertible redeemable preferred shares (Continued) (c) Conversion feature Series A Preferred Shares are convertible, at the option of the holders, at any time after the date of issuance of such Series A Preferred Shares into such number of fully paid ordinary shares of the Company according to a conversion price. Conversion price is initially be the issue price of Series A Preferred Shares , resulting in an initial conversion ratio of 1:1, and is subject to adjustments for certain events, including but not limited to additional equity securities issuance, share dividends, subdivisions, redemptions, combinations, or consolidation of ordinary shares. The conversion price is also subject to anti-dilution adjustment in the event the Company issues new securities at a price per share that is less than such conversion price. In such case, the conversion price shall be reduced to adjust for dilution. Each Series A Preferred Shares is automatically converted into ordinary shares of the Company at the then effective conversion price upon earlier of (i) the closing date of a qualified initial public offering of the Company’s shares on a reputable stock exchange, or (ii) the date of election by the majority of holders of Series A Preferred Shares, Series B Preferred Shares, convertible note and exchangeable note. Upon conversion, all preferred rights entitled to such holders shall lapse and such holders will thereafter hold rights equivalent to ordinary shareholders. (d) Redemption feature At any time after the earliest of (i) the date that any other class or series of equity securities of the Company becomes redeemable, or (ii) the fourth anniversary of the issuance of the Series A Preferred Shares, the Series A Preferred Shares holders have a right to require the Company to redeem all outstanding Series A Preferred Shares, where the majority of Series A Preferred Shares holders vote for a redemption. The redemption price equals to 100% of the issuance price plus an amount accruing at a rate of 10% per annum, compounding annually, beginning on the date of issuance of such Series A Preferred Shares and to the redemption price payment date, plus any declared and unpaid dividends. The maturity date of Series A Preferred Shares has been extended to December 2020. (e) Liquidation preferences In the event of any liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, a sale, transfer, lease or other disposition of all or substantially all of the assets of the Group, the holders of Series A Preferred Shares will be entitled to receive in preference to the holders of other classes of shares of the Company, a liquidation preference per share equal to 100% of the issue price of the Series A Preferred Shares, plus an amount accruing daily at a rate of 8% per annum, compound annually, beginning on the date of issuance of such Series A Preferred Shares and to the date the liquidator pays the Preferred Amount (as defined below), plus all accrued but unpaid dividends on such Series A Preferred Shares (collectively, the “Preferred Amount”). (f) Fair value measurement The Group monitors Series A Preferred Shares on a fair value basis which is in accordance with its risk management strategy and does not bifurcate any feature from its debt host instrument and designates the entire compound financial instruments as a financial liability at fair value through profit or loss with the changes in the fair value recorded in consolidated statement of comprehensive income. As at 31 December 2019, the directors had used the market comparable method. Changes in fair value of Series A Preferred Shares and exchange differences on Series A Preferred Shares were recorded in “fair value gain/(loss) of convertible redeemable preferred shares”. The change in fair value is because of change in underlying value of the Group. 25 Convertible redeemable preferred shares (Continued) (f) Fair value measurement (Continued) As of 25 October 2019, upon completion of the Company’s initial public offering, the Company re-designated all of the outstanding Series A Preferred Shares of the Company into ordinary shares pursuant to (c) disclosed above. The movement of the Series A Preferred Shares is set out as below: RMB’000 For the year ended 31 December 2018 At 1 January 2018 249,864 Change in fair value 226,248 At 31 December 2018 476,112 Fair value change for the year included in statement of comprehensive income for liabilities held at the year end 226,248 For the year ended 31 December 2019 At 1 January 2019 476,112 Change in fair value (136,656) Converted into ordinary share upon initial public offering (339,456) At 31 December 2019 — Fair value change for the year included in statement of comprehensive income for liabilities held at the year end (136,656) There is no sensitivity analysis as at 31 December 2018 and 2019 as the market comparable method was used. |
Convertible note
Convertible note | 12 Months Ended |
Dec. 31, 2021 | |
Convertible note | |
Convertible note | 26 Convertible note Convertible note in 2016 On 8 December 2016, the Company entered into a convertible note purchase agreement, and pursuant to which, the Company issued a convertible note at principal amount of US$8,700,948 (equivalent to approximately RMB60,163,000). The key terms of the convertible note are summarised as follows: (a) Conversion feature Convertible note is convertible into Series B Preferred Shares of the Company, at the option of the holder, unless the Company has previously elected to redeem the convertible note, at occurrence of an exit event, which refer to (a) the liquidation, dissolution or winding up of the Company; (b) the acquisition of the Company in which in excess of 50% of the Company’s voting power outstanding before such transaction is transferred; or (c) the sale or other disposition of all or substantially all of the assets of the Company and its subsidiaries or the exclusive licensing of substantially all of the intellectual properties of the Company and its subsidiaries or (d) an initial public offering of the Company’s shares an internationally recognised stock exchange (the “Exit Event”). 26 Convertible note (Continued) Convertible note in 2016 (Continued) (b) Redemption feature At any time after the earliest of (i) an Exit Event, or (ii) the fourth anniversary of the issuance of the convertible note, both holder and the Company have a right to redeem all outstanding convertible note. The redemption price equals to 100% of the issue price plus an amount accruing at a rate of 15% per annum, compounding semi-annually, beginning on the date of issuance of such convertible note and to the redemption price payment date, plus any declared and unpaid dividends. Before the first anniversary of the issuance of the convertible note, the convertible note is redeemable at the option of the Company and with the consent of the convertible note holder. The redemption price equals to 100% of the issue price plus an interest amount accruing at a rate of 8% of the issue price. Upon or after the first anniversary but prior to fourth anniversary of the issuance of the convertible note, at the option of the Company, the convertible note is redeemable at redemption price equals to 100% of the issue price plus an amount accruing at a rate of 15% per annum, beginning on the date of issuance of such convertible note and to the redemption price payment date, plus any declared and unpaid dividends. (c) Fair value measurement The Group monitors the convertible note on a fair value basis which is in accordance with its risk management strategy and does not bifurcate any feature from its debt host instrument and designates the entire hybrid contract as a financial liability at fair value through profit or loss with the changes in the fair value recorded in consolidated statement of comprehensive income. 26 Convertible note (Continued) Convertible note in 2016 (Continued) (c) Fair value measurement (Continued) As at 31 December 2019, the directors had used the market comparable method. On 13 November 2019, the convertible note has been fully redeemed and repaid pursuant to (b) disclosed above. The movement of the convertible note is set out as below: RMB’000 For the year ended 31 December 2018 At 1 January 2018 61,446 Change in fair value 9,152 At 31 December 2018 70,598 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 9,152 For the year ended 31 December 2019 At 1 January 2019 70,598 Change in fair value 5,193 Repayment during the year (75,791) At 31 December 2019 — Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 5,193 Convertible note in 2020 On 17 September 2020, the Company entered into a convertible note purchase agreement, and pursuant to which, the Company issued a convertible note at principal amount of US$5,000,000 (equivalent to approximately RMB33,474,000). The maturity date is 17 March 2023. The key terms of the convertible note are summarised as follows: (a) Conversion feature Convertible note is convertible into American Depository Receipts (“ADRs of the Company, at the option of the holder after 6 months from the issue date to the maturity date, unless the Company has previously elected to redeem the convertible note. (b) Redemption feature The Company has a right to redeem all outstanding convertible note after one year from the issue date. The holder has a right to redeem all outstanding convertible note at maturity date at a price equivalent to 12.5% internal rate of return compounded annually from the issue date to maturity date. The Company can elect to redeem all outstanding convertible note after one year from the issue date at a price equivalent to 15% internal rate of return compounded annually from the issue date to the redemption date. Before the first anniversary of the issuance of the convertible note, the convertible note is redeemable at the option of the Company and by giving notice in writing to the convertible note holder. 26 Convertible note (Continued) Convertible note in 2020 (Continued) (c) Fair value measurement The Group monitors the convertible note on a fair value basis which is in accordance with its risk management strategy and does not bifurcate any feature from its debt host instrument and designates the entire hybrid contract as a financial liability at fair value through profit or loss with the changes in the fair value recorded in consolidated statement of comprehensive income. As at 31 December 2021, the directors had used the market comparable method. The movement of the convertible note is set out as below: RMB’000 For the year ended 31 December 2020 At 1 January 2020 — Convertible note issued 33,474 Unrealised exchange difference (883) Change in fair value 1,599 At 31 December 2020 34,190 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 1,599 For the year ended 31 December 2021 At 1 January 2021 — Opening value 34,190 Unrealised exchange difference (371) Change in fair value 4,240 At 31 December 2021 38,059 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 4,240 |
Exchangeable note liabilities
Exchangeable note liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Exchangeable note liabilities | |
Exchangeable note liabilities | 27 Exchangeable note liabilities On 8 December 2016 (the ‘‘Issuance Date’’), immediate holding companies of the Company (the “Holding Companies’’) owned by Dr. Zhou Pengwu and Ms. Ding Wenting entered into exchangeable note purchase agreements with an independent investor, and pursuant to which, the Holding Companies issued exchangeable notes at principal amounts of US$13,921,517 (RMB97,227,875) in total (the ‘‘Exchangeable Note’’). The Exchangeable Note holder has the right to require the Holding Companies to exchange for a predetermined amount of Series B Convertible Redeemable Preferred Shares of the Company at any time (the ‘‘Exchange’’). Upon occurrence of the Exchange, the Company will issue 5,976,960 Series B Preferred Shares to the Exchangeable Note holder and simultaneously the Company will cancel 5,976,960 ordinary shares held by Dr. Zhou Pengwu and Ms. Ding Wenting. 27 Exchangeable note liabilities (Continued) On the Issuance Date, the Group recognised the fair value of the Exchangeable Note of RMB90,513,000 as a financial liability at fair value through profit or loss, as the Exchange can be initiated at any time by the Exchangeable Note holder and the corresponding Series B Preferred Shares would be liability classified. Also on the Issuance Date, the Group measured the fair value of the 5,976,960 ordinary shares in the Company that will be cancelled upon the future occurrence of the Exchange, recognising a corresponding reduction in other reserves of RMB51,311,000. The fair value of the Exchangeable Note liability recognised on the Issuance Date was equal to the corresponding fair value of the Series B Preferred Shares that would be issued by the Company upon the Exchange. The amount by which the fair value of the Series B Preferred Shares exceeded the fair value of the 5,976,960 ordinary shares held by Dr. Zhou Pengwu and Ms. Ding Wenting that would be cancelled upon the Exchange, was equal to RMB39,202,000. This amount was recognised as an one-time compensatory expense charged to the consolidated statements of comprehensive income for the year ended 31 December 2016. The key terms of the Exchangeable Note are summarised as follows: (a) Redemption feature At the fourth anniversary of the issuance of the exchangeable note, Holding Companies shall redeem the exchangeable note by payment of the principal amounts to the exchangeable note holder. (b) Exchange feature Exchangeable note is exchangeable into Series B Preferred Shares of the Company, at the option of the holder, at any time before the fourth anniversary of the issuance of the exchangeable note. Also, all Series B Preferred Shares will automatically convert to ordinary shares upon completion of a qualified initial public offering. Exchange price of the exchange is at US$2.3292. The par value of Series B Preferred Shares is US$1 each. Set out below are the key features of the Series B Preferred Shares: (i) Dividends rights The holders of Series B Preferred Shares will be entitled to receive in preference to the holders of the ordinary shares a per share amount equal to 8% of the issue price per annum when it is declared by the Board of Directors. The holders of Series B Preferred Shares would be entitled to receive participating dividends if declared as if each outstanding Series B Preferred Shares had been converted into ordinary shares prior to the record date for dividend or distribution. (ii) Voting rights Each Series B Preferred Shares conveys the right to its holder of one vote for each ordinary share upon conversion. 27 Exchangeable note liabilities (Continued) (b) Exchange feature (Continued) (iii) Conversion feature Series B Preferred Shares are convertible, at the option of the holders, at any time after the date of issuance of such Series B Preferred Shares into such number of fully paid ordinary shares of the Company according to a conversion price. Conversion price is initially the issue price of Series B Preferred Shares , resulting in an initial conversion ratio of 1:1, and is subject to adjustments for certain events, including but not limited to additional equity securities issuance, share dividends, subdivisions, redemptions, combinations, or consolidation of ordinary shares. The conversion price is also subject to anti-dilution adjustment in the event the Company issues new securities at a price per share that is less than such conversion price. In such case, the conversion price shall be reduced to adjust for dilution. Each Series B Preferred Shares is automatically converted into ordinary shares of the Company at the then effective conversion price upon earlier of (i) the closing date of a qualified initial public offering of the Company’s shares on a reputable stock exchange, or (ii) the date of election by the majority of holders of Series A Preferred Shares, Series B Preferred Shares, Convertible note and Exchangeable note. Upon conversion, all preferred rights entitled to such holders shall lapse and such holders will thereafter hold rights equivalent to ordinary shareholders. (iv) Redemption feature At any time after the earliest of (i) the date that any other class or series of equity securities of the Company becomes redeemable, or (ii) the fourth anniversary of the issuance of the Series B Preferred Shares, the Series B Preferred Shares holders have a right to require the Company to redeem all outstanding Series B Preferred Shares, where the majority of Series B Preferred Shares holders vote for a redemption. The redemption price equals to 100% of the issuance price plus an amount accruing at a rate of 10% per annum, compounding annually, beginning on the date of issuance of the Convertible note and to the redemption price payment date, plus any declared and unpaid dividends. (v) Liquidation preferences In the event of any liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, a sale, transfer, lease or other disposition of all or substantially all of the assets of the Group, the holders of Series B Preferred Shares will be entitled to receive in preference to the holders of other classes of shares of the Company, a liquidation preference per share equal to 100% of the issue price of the Series B Preferred Shares, plus an amount accruing daily at a rate of 10% per annum, compound annually, beginning on the date of issuance of the Convertible note and to the date the liquidator pays the Preferred Amount (as defined below), plus all accrued but unpaid dividends on such Series B Preferred Shares (collectively, the “B Preferred Amount”). (c) Fair value measurement The Group monitors the exchangeable note on a fair value basis which is in accordance with its risk management strategy and does not bifurcate any feature from its debt host instrument and designates the entire compound financial instruments as a financial liability at fair value through profit or loss with the changes in the fair value recorded in consolidated statement of comprehensive income. As at 31 December 2018 and 2019, the directors had used the market comparable method. The change in fair value is because of change in underlying value of the Group. 27 Exchangeable note liabilities (Continued) (c) Fair value measurement (Continued) In September 2019, holder of the Exchangeable Note and the Holding Companies owned by Dr. Zhou Pengwu and Ms. Ding Wenting agreed that immediately prior to the completion of the initial public offering of the Company, the outstanding principal amount of the Exchangeable Note shall be converted into 5,976,960 Series B Preferred Shares of the Company pursuant to (b) disclosed above. As of 25 October 2019, upon completion of the Company’s initial public offering, the note has been fully converted into ordinary shares accordingly. Immediately after completion of the initial public offering, the Company re-designated all of the outstanding Series B Preferred Shares of the Company into ordinary shares. The movement of the exchangeable note liabilities is set out as below: RMB’000 For the year ended 31 December 2018 At 1 January 2018 128,820 Change in fair value 56,925 At 31 December 2018 185,745 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 56,925 For the year ended 31 December 2019 At 1 January 2019 185,745 Change in fair value (45,274) Converted into ordinary share upon initial public offering (140,471) At 31 December 2019 — Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end (45,274) There is no sensitivity analysis as at 31 December 2018 and 2019 as the market comparable method was used. |
Cash generated from operations
Cash generated from operations | 12 Months Ended |
Dec. 31, 2021 | |
Cash generated from operations | |
Cash generated from operations | 28 Cash generated from operations 2019 2020 2021 RMB’000 RMB’000 RMB’000 Profit/(loss) before income tax 152,364 (259,492) (681,314) Adjustments for: Finance income (388) (1,185) (113) Finance costs 24,293 29,189 27,230 Amortisation of intangible assets (Note 14) 3,336 8,130 5,970 Depreciation of property, plant and equipment (Note 11) 78,163 97,232 93,165 Depreciation of investment properties (Note 13) 2,335 1,043 — Loss on disposal of property, plant and equipment 1,715 703 14,349 Loss on disposal of intangible assets — — 1,350 Share of losses/(profits) investments accounted for using the equity method 1,738 1,043 (81) Fair value gain of convertible redeemable preferred shares (136,656) — — Fair value loss of convertible note 5,193 1,599 4,240 Fair value gain of exchangeable note liabilities (45,274) — — Fair value gain of derivative financial instrument (301) — — Transaction cost related to issuance of convertible note — 677 — Reversal of contingent consideration — — (1,523) Share-based payment 47,788 78,967 35,463 Written-off of assets/liabilities held for sale 2,070 — — Impairment of non-current assets 1,405 32,969 313,959 Unrealised exchange difference — 515 (373) (Gain)/loss on disposal of associates (14,251) 928 — (Gain)/loss on disposal of subsidiaries (Note 30) (3,040) 1,531 21,558 120,490 (6,151) (166,120) Changes in working capital: - Inventories (3,037) (8,971) (800) - Trade receivables 1,376 (7,781) 3,849 - Other receivables, deposits and prepayments (11,742) 10,470 34,108 - Balances with related parties — — — - Trade payables (1,567) 15,969 4,543 - Accruals, other payables and provisions (4,521) 15,191 (52,018) - Contract liabilities (304) (13,145) 228,153 Cash flow from operating activities 100,695 5,582 51,715 28 Cash generated from operations (Continued) This section sets out an analysis of net debt and the movements in net debt for the years: Liabilities from financing activities Lease Lease Borrowing Borrowing liabilities liabilities due within due after due within due after 1 year 1 year 1 year 1 year Total Net debt RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at 1 January 2020 (127,470) (12,917) (36,266) (165,615) (342,268) Cash flows (8,344) (63,014) 398 (13,368) (84,328) As at 31 December 2020 (135,814) (75,931) (35,868) (178,983) (426,596) As at 1 January 2021 (135,814) (75,931) (35,868) (178,983) (426,596) Cash flows (20,394) (1,676) 7,590 73,229 58,749 As at 31 December 2021 (156,208) (77,607) (28,278) (105,754) (367,847) |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2021 | |
Business combination | |
Business combination | 29 Business combination (a) Shanghai Jiahong Medical Aesthetic Clinic Co., Ltd. (formerly known as Shanghai Mingyue Medical Aesthetic Clinic Co., Ltd.) On 25 March 2020, the Group acquired 80% of the share capital of Shanghai Jiahong Medical Aesthetic Clinic Company Limited (“Shanghai Jiahong”), an aesthetic medical treatment provider operating in the PRC for RMB7,200,000 and obtained control. As a result of the acquisition, the Group is expected to increase its presence in Shanghai. The goodwill of RMB6,446,000 arising from the acquisition is attributable to synergies expected to be generated from the acquisition. None of the goodwill recognised is expected to be deductible for income tax purpose. The following table summarises the consideration paid for Shanghai Jiahong. RMB’000 Purchase consideration Cash paid in 2020 4,940 Cash received in 2021 (3,940) Consideration payable as at 31 December 2021 6,200 Total purchase consideration 7,200 29 Business combination (Continued) (a) Shanghai Jiahong Medical Aesthetic Clinic Co., Ltd. (formerly known as Shanghai Mingyue Medical Aesthetic Clinic Co., Ltd.) (Continued) The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 1,121 Intangible assets 2,120 Trade receivables and other receivables 602 Inventories 123 Properties, plant and equipment 4,014 Trade payables and other payables (2,392) Lease liabilities (4,116) Deferred income tax liabilities (530) Non-controlling interest (188) Net identifiable assets acquired 754 Add: goodwill (Note 14) 6,446 Net assets acquired 7,200 The non-controlling interest recognised at the acquisition date was measured at proportionate share of the acquired net identifiable assets. An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (1,500) Cash and cash equivalents 1,121 Net outflow of cash and cash equivalents included in cash flows from investing activities (379) Acquisition-related costs have been charged to general and administrative expenses in consolidated statement of comprehensive income for the year ended 31 December 2020. For the year ended 31 December 2020, the revenue included in consolidated statement of comprehensive income since 26 March 2020 contributed by Shanghai Jiahong was approximately RMB14,587,000. Shanghai Jiahong also contributed profit of approximately RMB677,000 over the same period. 29 Business combination (Continued) (a) Shanghai Jiahong Medical Aesthetic Clinic Co., Ltd. (formerly known as Shanghai Mingyue Medical Aesthetic Clinic Co., Ltd.) (Continued) The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 901,593 Loss after tax (247,616) (b) Xian New Pengai Yueji Medical Aesthetic Clinic Co., Ltd. On 24 April 2020, the Group acquired 70% of the share capital of Xian New Pengai Yueji Medical Aesthetic Clinic Co. Ltd. (“Xian Pengai”), an aesthetic medical treatment provider operating in the PRC for RMB13,208,000 and obtained control. As a result of the acquisition, the Group is expected to increase its presence in Xian. The goodwill of RMB9,961,000 arising from the acquisition is attributable to synergies expected to be generated from the acquisition. None of the goodwill recognised is expected to be deductible for income tax purpose. The following table summarises the consideration paid for Xian Pengai. RMB’000 Purchase consideration Fair value of the previously held equity interest in Shenzhen Yueji at the acquisition date 10,500 Cash consideration 2,252 Settlement of pre-existing balance with Shenzhen Yueji 456 Total purchase consideration 13,208 The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 245 Intangible assets 4,240 Trade receivables and other receivables 401 Inventories 148 Properties, plant and equipment 3,881 Trade payables and other payables (180) Lease liabilities (3,585) Current income tax liabilities (99) Deferred income tax liabilities (412) Non-controlling interest (1,392) Net identifiable assets acquired 3,247 Add: goodwill (Note 14) 9,961 Net assets acquired 13,208 29 Business combination (Continued) (b) Xian New Pengai Yueji Medical Aesthetic Clinic Co., Ltd. (Continued) The non-controlling interest recognised at the acquisition date was measured at proportionate share of the acquired net identifiable assets. An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (5,820) Cash and cash equivalents 245 Net outflow of cash and cash equivalents included in cash flows from investing activities (5,575) Contingent consideration is calculated based on a pre-determined formula with reference to the profit level of Xian Pengai in the year ended 31 December 2020 and 2021. Acquisition-related costs have been charged to general and administrative expenses in consolidated statement of comprehensive income for the year ended 31 December 2020. For the year ended 31 December 2020, the revenue included in consolidated statement of comprehensive income since 25 April 2020 contributed by Xian Pengai was approximately RMB1,690,000. Xian Pengai also contributed loss of approximately RMB1,972,000 over the same period. The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 903,306 Loss after tax (246,715) (c) Jiangsu Liangyan Hospital Management Co., Ltd. On 3 September 2020, the Group acquired 80% of the share capital of Jiangsu Liangyan Hospital Management Co. Ltd. (“Jiangsu Liangyan”), an aesthetic medical treatment provider operating in the PRC for RMB39,147,000 and obtained control. As a result of the acquisition, the Group is expected to increase its presence in Jiangsu and Yunnan. The goodwill of RMB29,186,000 arising from the acquisition is attributable to synergies expected to be generated from the acquisition. None of the goodwill recognised is expected to be deductible for income tax purpose. 29 Business combination (Continued) (c) Jiangsu Liangyan Hospital Management Co., Ltd. (Continued) The following table summarises the consideration paid for Jiangsu Liangyan. RMB’000 Purchase consideration Cash paid 25,000 Contingent consideration 8,181 Settlement of pre-existing balance with Jiangsu Liangyan 5,966 Total purchase consideration 39,147 The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 1,198 Intangible assets 14,000 Trade receivables and other receivables 1,700 Inventories 452 Properties, plant and equipment 17,823 Trade payables and other payables (2,717) Borrowings (810) Lease liabilities (13,928) Deferred income tax liabilities (3,337) Non-controlling interest (4,420) Net identifiable assets acquired 9,961 Add: goodwill (Note 14) 29,186 Net assets acquired 39,147 The non-controlling interest recognised at the acquisition date was measured at proportionate share of the acquired net identifiable assets. An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (25,000) Cash and cash equivalents 1,198 Net outflow of cash and cash equivalents included in cash flows from investing activities (23,802) Contingent consideration is calculated based on a pre-determined formula with reference to the profit level of Jiangsu Liangyan in the year ending 31 December 2022. 29 Business combination (Continued) (c) Jiangsu Liangyan Hospital Management Co., Ltd. (Continued) Acquisition-related costs have been charged to general and administrative expenses in consolidated statement of comprehensive income for the year ended 31 December 2020. For the year ended 31 December 2020, the revenue included in consolidated statement of comprehensive income since 4 September 2020 contributed by Jiangsu Liangyan was approximately RMB7,910,000. Jiangsu Liangyan also contributed loss of approximately RMB1,184,000 over the same period. The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 924,948 Loss after tax (249,660) (d) Guangdong Hanfei Hospital Investment Co., Ltd. On 4 August 2020, the Group acquired 51% of the share capital of Guangdong Hanfei Hospital Investment Co., Ltd. (“Guangdong Hanfei”), an aesthetic medical treatment provider operating in the PRC for RMB125,426,000 and obtained control. As a result of the acquisition, the Group is expected to increase its presence in Guangdong. The goodwill of RMB102,971,000 arising from the acquisition is attributable to synergies expected to be generated from the acquisition. None of the goodwill recognised is expected to be deductible for income tax purpose. The following table summarises the consideration paid for Guangdong Hanfei. RMB’000 Purchase consideration Cash paid 61,000 Cash consideration payable 41,000 Contingent consideration 41,021 Derivative financial assets (22,611) Settlement of pre-existing balance with Guangdong Hanfei 5,016 Total purchase consideration 125,426 29 Business combination (Continued) (d) Guangdong Hanfei Hospital Investment Co., Ltd. (Continued) The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 1,805 Intangible assets 61,057 Trade receivables and other receivables 13,020 Inventories 7,061 Properties, plant and equipment 173,577 Deferred income tax assets 2,894 Trade payables and other payables (34,700) Borrowings (5,545) Lease liabilities (135,814) Contract liabilities (23,732) Current income tax liabilities (10,499) Non-controlling interest (26,669) Net identifiable assets acquired 22,455 Add: goodwill (Note 14) 102,971 Net assets acquired 125,426 The non-controlling interest recognised at the acquisition date was measured at proportionate share of the acquired net identifiable assets. An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (42,000) Cash and cash equivalents 1,805 Net outflow of cash and cash equivalents included in cash flows from investing activities (40,195) For the cash consideration paid, RMB19,000,000 was paid in 2019 while RMB42,000,000 was paid in 2020 (Note 30(e)). Derivative financial assets represent an option for the Company to obtain additional equity interest of Guangdong Hanfei at nil consideration if Guangdong Hanfei does not meet target profit level in the year ended 31 December 2020 based on a pre-determined formula as stipulated in the share purchase agreement. Contingent consideration is calculated based on a pre-determined formula with reference to the profit level of Guangdong Hanfei in the year ending 31 December 2021. Acquisition-related costs have been charged to general and administrative expenses in consolidated statement of comprehensive income for the year ended 31 December 2020. For the year ended 31 December 2020, the revenue included in consolidated statement of comprehensive income since 4 August 2020 contributed by Guangdong Hanfei was approximately RMB181,371,000. Guangdong Hanfei also contributed profit of approximately RMB3,996,000 over the same period. 29 Business combination (Continued) (d) Guangdong Hanfei Hospital Investment Co., Ltd. (Continued) The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 1,069,869 Loss after tax (245,715) On 25 December 2020, the Group entered into an agreement to dispose of the 51% equity interest of Guangdong Hanfei with the original shareholder. The disposal was due to the slower than expected recovery from COVID-19 and the overall less than satisfactory performance of the Guangdong Hanfei during the post-acquisition period (Note 31(e)). (e) Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. On 14 October 2021, the Group acquired 73% of the share capital of Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd (“Guangzhou Pengai Xiuqi”), an aesthetic medical treatment provider operating in the PRC at the cash consideration for RMB7,300,000 and obtained control. As a result of the acquisition, the Group is expected to increase its presence in Guangzhou. The goodwill of RMB6,300,000 arising from the acquisition is attributable to synergies expected to be generated from the acquisition. None of the goodwill recognised is expected to be deductible for income tax purpose. The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Other receivables 100 Inventories 400 Property, plant and equipment 500 Net identifiable assets acquired 1,000 Add: goodwill (Note 14) 6,300 Net assets acquired 7,300 An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (7,300) Cash and cash equivalents — Net outflow of cash and cash equivalents included in cash flows from investing activities (7,300) Acquisition-related costs have been charged to general and administrative expenses in consolidated statement of comprehensive income for the year ended 31 December 2021. 29 Business combination (Continued) (e) Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. (Continued) For the year ended 31 December 2021, the revenue included in consolidated statement of comprehensive income since 14 October 2021 contributed by Guang zhou Pengai Xiuqi was approximately RMB3,797,000. Guangzhou Pengai Xiuqi also contributed loss of approximately RMB333,000 over the same period. The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2021: 2021 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 3,797 Loss after tax (333) (f) Beijing AomeiYixin Investment Consultant Co., Ltd. (“Beijing Aomei”) On 1 January 2021, the Group acquired 95% of the share capital of Beijing Aomei Yixin Investment Consultation Company (“Beijing Aomei”), an aesthetic medical treatment provider operating in the PRC at the cash consideration for RMB11,500,000 and obtained control. As a result of the acquisition, the Group is expected to increase its presence in Beijing. The goodwill of RMB8,397,000 arising from the acquisition is attributable to synergies expected to be generated from the acquisition. None of the goodwill recognised is expected to be deductible for income tax purpose. The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 27 Intangible assets 2,419 Trade receivables and other receivables 1,113 Inventories 57 Property, plant and equipment 2,743 Trade payables and other payables (122) Lease liabilities (2,362) Deferred income tax liabilities (600) Current income tax liabilities (9) Non-controlling interest (163) Net identifiable assets acquired 3,103 Add: goodwill (Note 14) 8,397 Net assets acquired 11,500 An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration — Cash and cash equivalents 27 Net outflow of cash and cash equivalents included in cash flows from investing activities 27 29 Business combination (Continued) (f) Beijing AomeiYixin Investment Consultant Co., Ltd. (“Beijing Aomei”) (Continued) Acquisition-related costs have been charged to general and administrative expenses in consolidated statement of comprehensive income for the year ended 31 December 2021. For the year ended 31 December 2021, the revenue included in consolidated statement of comprehensive income since 1 January 2021 contributed by Beijing Aomei was approximately RMB4,877,000. Beijing Aomei also contributed loss of approximately RMB7,566,000 over the same period. |
Disposals of subsidiaries
Disposals of subsidiaries | 12 Months Ended |
Dec. 31, 2021 | |
Disposals of subsidiaries | |
Disposals of subsidiaries | 30 Disposals of subsidiaries (a) Yinchuanshi Pengai Yueji Aesthetic Medical Clinic Co. Ltd. (“Yinchuanshi Pengai”) In May 2020, the Group disposed of its entire equity interest in Yinchuanshi Pengai to a third party. Details of the net assets of Yinchuanshi Pengai disposed of and their financial impacts are summarised as follows: RMB’000 Net assets disposed of: Property, plant and equipment 3,910 Intangible assets 17 Deferred tax assets 175 Inventories 66 Trade and other receivables 97 Cash and cash equivalents 1 Income tax receivables 75 Trade payables and other payables (263) Contract liabilities (12) Lease liabilities (1,896) Non-controlling interests (618) Net assets of subsidiary 1,552 Loss on disposal of subsidiary (729) Cash consideration 823 An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the Yinchuanshi Pengai is as follows: 2020 RMB’000 Cash received 823 Cash and cash equivalents disposed of (1) Net cash inflow in respect of disposal of Yinchuanshi Pengai 822 30 Disposals of subsidiaries (Continued) (b) Guangdong Hanfei Hospital Investment Co., Ltd. On 25 December 2020, the Group disposed of its entire equity interest in Guangdong Hanfei to the original shareholder (Note 29(g)). Details of the net assets of Guangdong Hanfei disposed of and their financial impacts are summarised as follows: RMB’000 Net assets disposed of: Property, plant and equipment 165,711 Intangible assets 58,541 Goodwill 102,971 Deferred tax assets 575 Inventories 9,472 Trade and other receivables 57,249 Cash and cash equivalents 828 Income tax payables (11,464) Trade payables and other payables (90,143) Borrowings (4,705) Contract liabilities (7,477) Lease liabilities (132,385) Non-controlling interests (27,961) Net assets of subsidiary 121,212 Loss on disposal of subsidiary (55,387) Consideration 65,825 Satisfied by: Cash consideration (Note (i)) 61,000 Settlement of pre-existing balances (Note (ii)) 4,825 65,825 An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the Guangdong Hanfei is as follows: 2020 RMB’000 Cash received (Note (i)) 20,000 Cash and cash equivalents disposed of (828) Net cash inflow in respect of disposal of Guangdong Hanfei 19,172 Note: (i) The cash consideration in relation to the disposal of Guangdong Hanfei amounted to RMB61,000,000 of which RMB20,000,000 was received in December 2020 and the remaining balance of RMB41,000,000 was fully settled subsequent to 31 December 2020. 30 Disposals of subsidiaries (Continued) (b) Guangdong Hanfei Hospital Investment Co., Ltd. (Continued) (ii) Immediately before the disposal, the contingent consideration payable originated from the acquisition of Guangdong Hanfei (Note 29(g)) was remeasured at nil, resulting in a gain in fair value of RMB41,021,000, and the derivative financial assets were remeasured at RMB36,175,000, resulting in a gain in fair value of RMB13,564,000. The settlement of pre-existing balances comprised of the setoff of cash consideration payable of RMB41,000,000 and derivative financial assets of RMB36,175,000. The disposal of assets and liabilities of Guangdong Hanfei resulted in loss of disposal of subsidiary of RMB55,387,000. The aggregate impact of these remeasurement gains and disposal loss resulted in net loss of RMB802,000, which is included and presented as “Other gains, net” on the consolidated statements of comprehensive income for the year ended 31 December 2020. (c) The Company entered into an Equity Transfer Agreement with an independent third-party regarding the sales of certain subsidiaries including Chongqing Pengai Aesthetic Medical Hospital Co., Ltd., Chengdu Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Shenzhen Pengai Yuexin Aesthetic Medical Hospital, Shenzhen Pengai Yueji Aesthetic Medical Hospital, Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Jiangsu Liangyan Hospital Management Co., Ltd., Yunnan Liangyan Aesthetic Medical Clinic Co., Ltd., Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. and Kunming Liangyan Hospital Management Co., Ltd. Details of the net assets of Chongqing Pengai Aesthetic Medical Hospital Co., Ltd., Chengdu Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Shenzhen Pengai Yuexin Aesthetic Medical Hospital, Shenzhen Pengai Yueji Aesthetic Medical Hospital, Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Jiangsu Liangyan Hospital Management Co., Ltd., Yunnan Liangyan Aesthetic Medical Clinic Co., Ltd., Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. and Kunming Liangyan Hospital Management Co., Ltd. disposed of and their financial impacts are summarised as follows: RMB’000 Net assets disposed of: Property, plant and equipment 2,949 Intangible assets 10,903 Goodwill — Deferred tax assets — Inventories 3,462 Trade and other receivables 9,911 Cash and cash equivalents 1,329 Income tax payables (18,410) Trade payables and other payables (22,047) Borrowings — Contract liabilities (304) Lease liabilities — Non-controlling interests (37,565) Net assets of subsidiary (49,772) Loss on disposal of subsidiary 37,688 Consideration (12,084) Satisfied by: Cash consideration — Settlement of pre-existing balances (12,084) (12,084) An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the Chongqing Pengai Aesthetic Medical Hospital Co., Ltd., Chengdu Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Shenzhen Pengai Yuexin Aesthetic Medical Hospital, Shenzhen Pengai Yueji Aesthetic Medical Hospital, Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Jiangsu Liangyan Hospital Management Co., Ltd., Yunnan Liangyan Aesthetic Medical Clinic Co., Ltd., Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. and Kunming Liangyan Hospital Management Co., Ltd. is as follows: 30 Disposals of subsidiaries (Continued) 2021 RMB’000 Cash received — Cash and cash equivalents disposed of (1,329) Net cash inflow in respect of disposal (1,329) |
Transactions with non-controlli
Transactions with non-controlling interests | 12 Months Ended |
Dec. 31, 2021 | |
Transactions with non-controlling interests | |
Transactions with non-controlling interests | 31 Transactions with non-controlling interests During the year ended 31 December 2019, 2020 and 2021, the Group completed the following transactions with non-interesting interests and the impact are as below: Debit to Total net (Debit)/credit non-controlling (debit)/credit to to other reserve interests Equity RMB’000 RMB’000 RMB’000 For the year ended 31 December 2019 Acquisition of additional interests in a subsidiary: - Guangzhou Pengai (Note a) (1,946) (1,062) (3,008) - Hangzhou Pengai (Note b) (2,389) (2,517) (4,906) - Chongqing Pengai (Note c) (867) (383) (1,250) - Changsha Pengai (Note d) (539) (511) (1,050) Disposal of interests in a subsidiary without loss of control: - Guangzhou Pengai (Note e) 642 298 940 - Nanchang Pengai Aesthetic Medical Clinic Co., Ltd. (“ Nanchang Pengai”) (Note f) (161) 1,111 950 - Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd. (“Yantai Pengai Jiayan”) (Note g) 12 488 500 (5,248) (2,576) (7,824) Debit to Total net (Debit)/credit non-controlling (debit)/credit to to other reserve interests Equity RMB’000 RMB’000 RMB’000 For the year ended 31 December 2020 Acquisition of additional interests in a subsidiary: - Shanghai Pengai (Note h) 92 (217) (125) Disposal of interests in a subsidiary without loss of control: - Shanghai Jiahong (Note i) (65) 65 — - Guangzhou Pengai (Note j) 2,613 147 2,760 2,640 (5) 2,635 For the year ended 31 December 2021 Acquisition of additional interests in a subsidiary: - Huizhou Pengai (Note k) (220) (140) (360) - Changsha Pengai (Note l) (715) 400 (315) Disposal of interests in a subsidiary without loss of control: - Changsha Pengai (Note m) 3,575 (2,000) 1,575 2,640 (1,740) 900 31 Transactions with non-controlling interests (Continued) (a) Acquisition of interest in Guangzhou Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 1,946 Consideration paid to non-controlling interests (3,008) Excess of consideration paid to non-controlling interest recognised within equity (1,062) On 24 June 2019 and 18 December 2019, the Group purchased additional 11% and 5% equity interest of Guagnzhou Pengai at consideration of RMB2,068,000 and RMB940,000 which resulted in an increase in the Group’s equity interest in Guangzhou Pengai from 85% to 96% and from 91% to 96%, respectively. (b) Acquisition of interest in Hangzhou Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 2,389 Consideration paid to non-controlling interests (4,906) Excess of consideration paid to non-controlling interest recognised within equity (2,517) On 12 June 2019, the Group purchased additional 20% equity interest of Hangzhou Pengai at consideration of RMB4,906,000 which resulted in an increase in the Group’s equity interest in Hangzhou Pengai from 80% to 100%. (c) Acquisition of interest in Chongqing Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 867 Consideration paid to non-controlling interests (1,250) Excess of consideration paid to non-controlling interest recognised within equity (383) On 28 May 2019, the Group purchased additional 5% equity interest of Chongqing Pengai at consideration of RMB1,250,000 which resulted in an increase in the Group’s equity interest in Chongqing Pengai from 95% to 100%. 31 Transactions with non-controlling interests (Continued) (d) Acquisition of interest in Changsha Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 539 Consideration paid to non-controlling interests (1,050) Excess of consideration paid to non-controlling interest recognised within equity (511) On 10 December 2019, the Group purchased additional 10% equity interest of Changsha Pengai at consideration of RMB1,050,000 which resulted in an increase in the Group’s equity interest in Changsha Pengai from 79% to 89%. (e) Disposal of interest in Guangzhou Pengai without loss of control 2019 RMB’000 Carrying amount of non-controlling interests disposed of (642) Less: consideration received from non-controlling interest 940 Gain on disposal within equity 298 On 24 June 2019, the Group disposed 5% equity interest in Guangzhou Pengai at a total consideration of RMB940,000 which resulted in a decrease in the Group’s equity interest in Guangzhou Pengai from 96% to 91%. (f) Disposal of interest in Nanchang Pengai without loss of control 2019 RMB’000 Carrying amount of non-controlling interests disposed of 161 Less: consideration received from non-controlling interest 950 Gain on disposal within equity 1,111 On 1 June 2019, the Group disposed 19% equity interest in Nanchang Pengai at a total consideration of RMB950,000 which resulted in a decrease in the Group’s equity interest in Nanchang Pengai from 70% to 51%. (g) Disposal of interest in Yantai Pengai Jiayan without loss of control 2019 RMB’000 Carrying amount of non-controlling interests disposed of (12) Less: consideration received from non-controlling interest 500 Gain on disposal within equity 488 On 16 May 2019, the Group disposed 5% equity interest in Yantai Pengai Jiayan at a total consideration of RMB500,000 which resulted in a decrease in the Group’s equity interest in Yantai Pengai Jiayan from 94% to 89%. 31 Transactions with non-controlling interests (Continued) (h) Acquisition of interest in Shanghai Pengai 2020 RMB’000 Carrying amount of non-controlling interests acquired (92) Consideration paid to non-controlling interests (125) Excess of consideration paid to non-controlling interest recognised within equity (217) On 25 March 2020, the Group purchased additional 5% equity interest of Shanghai Pengai at consideration of RMB125,000 which resulted in an increase in the Group’s equity interest in Shanghai Pengai from 80% to 85%. (i) Disposal of interest in Shanghai Jiahong without loss of control 2020 RMB’000 Carrying amount of non-controlling interests disposed of (65) Less: consideration received from non-controlling interest — Gain on disposal within equity (65) On 9 December 2020, the Group disposed 12% equity interest in Shanghai Jiahong at a total consideration of RMB864,000 which resulted in a decrease in the Group’s equity interest in Shanghai Jiahong from 80% to 68%. (j) Disposal of interest in Guangzhou Pengai without loss of control 2020 RMB’000 Carrying amount of non-controlling interests disposed of (147) Less: consideration received from non-controlling interest 2,760 Gain on disposal within equity 2,613 On 7 December 2020, the Group disposed 20% equity interest in Guangzhou Pengai at a total consideration of RMB2,760,000 which resulted in a decrease in the Group’s equity interest in Guangzhou Pengai from 96% to 76%. (k) Acquisition of interest in Huizhou Pengai 2021 RMB’000 Carrying amount of non-controlling interests acquired 140 Consideration paid to non-controlling interests (360) Excess of consideration paid to non-controlling interest recognised within equity (220) On 13 September 2021, the Group purchased additional 2% equity interest of Huizhou Pengai at consideration of RMB360,000 which resulted in an increase in the Group’s equity interest in Huizhou Pengai from 65.5% to 67.5%. 31 Transactions with non-controlling interests (Continued) (l) Acquisition of interest in Changsha Pengai 2021 RMB’000 Carrying amount of non-controlling interests acquired (400) Consideration paid to non-controlling interests (315) Excess of consideration paid to non-controlling interest recognised within equity (715) On 24 September 2021, the Group purchased additional 3% equity interest of Changsha Pengai at consideration of RMB315,000, which resulted in an increase in the Group’s equity interest in Changsha Pengai of 3%. (m) Disposal of interest in Changsha Pengai without loss of control 2021 RMB’000 Carrying amount of non-controlling interests disposed of 2,000 Less: consideration received from non-controlling interest 1,575 Gain on disposal within equity 3,575 On 24 September 2021, the Group disposed 15% equity interest in Changsha Pengai at a total consideration of RMB1,575,000 which resulted in a decrease in the Group’s equity interest in Changsha Pengai of 15%. |
Share based compensation
Share based compensation | 12 Months Ended |
Dec. 31, 2021 | |
Share based compensation | |
Share based compensation | 32 Share based compensation The Group has adopted a share-based compensation plan, namely the Aesthetic Medical International Holdings Group Limited Share Incentive Plan, (the “Share Incentive Plan”). The Share Incentive Plan was approved by the board of directors of the Company on 1 June 2019. According to the Share Incentive Plan, 5,940,452 ordinary shares were held as treasury shares of the Company as of 31 December 2019. These ordinary shares have been reserved to be issued to any qualified employees, directors and consultant as determined by the board of directors of the Company. The options will be exercisable only if option holders continue their employment before exercising the options. The maximum term of any issued stock option is ten years from the grant date. One-fourth (1/4) The option holder may elect at any time to exercise any part or all of the vested options before the expiry date. 32 Share based compensation (Continued) Movements in the number of options for the year ended 31 December 2020 and 2021 are as follows: Weighted- Weighted- Number of average average grant options exercise price date fair value RMB RMB Outstanding as of 1 January 2020 5,940,452 0.007 28.01 Vested during the year (note) (3,447,048) Outstanding as of 31 December 2020 2,493,404 0.007 28.01 Vested during the year (note) (1,222,959) Outstanding as of 31 December 2021 1,270,445 0.007 28.01 Note: The Group vested the options to certain option holders in advance. The fair value of share options were valued at grant date using Binomial option-pricing model. Assumptions used in the Binomial option-pricing model are presented below: Risk free interest rate 2.2 % Expected dividend yield 0 Expected volatility 57.87 % Exercise multiples 2.2 Contractual life 10 Share options outstanding as of 31 December 2021 have the following expiry date and exercise prices: Share options as of Grant date Expiry date Exercise price 31 December 2021 1 June 2019 31 May 2029 US$0.001 1,270,445 Weighted average remaining contractual life of options outstanding at end of period: 7.42 The share-based compensation expenses of approximately RMB35,463,000 (2020:RMB78,967,000) has been charged to the consolidated statements of comprehensive income in the current year. |
Summarised financial informatio
Summarised financial information of subsidiaries with material non-controlling interests | 12 Months Ended |
Dec. 31, 2021 | |
Summarised financial information of subsidiaries with material non-controlling interests | |
Summarised financial information of subsidiaries with material non-controlling interests | 33 Summarised financial information of subsidiaries with material non-controlling interests Set out below are the summarised financial information for each subsidiary that has non-controlling interests that are material to the Group. As at 31 December 2019, 2020 and 2021, the non-controlling interests attributable to these entities accounted for 88%, 84% and 21% of the total non-controlling interests for the respective year end. Summarised balance sheets Huizhou Pengai Shanghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 17,897 17,386 17,024 17,168 13,641 13,772 - Liabilities (4,432) (3,655) (15,541) (14,387) (15,626) (46,764) Total current net assets/(liabilities) 13,465 13,731 1,483 2,781 (1,985) (32,992) Non‑current - Assets 2,429 2,046 3,868 3,656 36,302 40,871 - Liabilities — — (733) — (31,607) (29,040) Total non‑current net assets 2,429 2,046 3,135 3,656 4,695 11,831 Net assets/(liabilities) 15,894 15,777 4,618 6,437 2,710 (21,161) Chengdu Yueji Xiuqi Pengai Haikou Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 4,183 5,926 n/a 5,060 9,140 10,252 2,226 3,033 4,546 - Liabilities (6,267) (14,033) n/a (9,250) (11,464) (33,393) (12,738) (14,405) (23,484) Total current net assets/(liabilities) (2,084) (8,107) n/a (4,190) (2,324) (23,141) (10,512) (11,372) (18,938) Non‑current - Assets 11,803 10,303 n/a 27,838 22,437 26,429 25,174 22,783 18,964 - Liabilities (5,689) (4,929) n/a (2,262) — — (6,458) (6,144) (5,808) Total non‑current net assets 6,114 5,374 n/a 25,576 22,437 26,429 18,716 16,639 13,156 Net assets/(liabilities) 4,030 (2,733) n/a 21,386 20,113 3,288 8,204 5,267 (5,782) 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised balance sheets (Continued) Shenzhen Yueji Shenzhen Yuexin Nanchang Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 17,627 16,593 n/a 2,125 2,352 n/a 4,426 3,985 n/a - Liabilities (20,648) (19,481) n/a (21,540) (22,614) n/a (1,305) (1,133) n/a Total current net assets/(liabilities) (3,021) (2,888) n/a (19,415) (20,262) n/a 3,121 2,852 n/a Non-current - Assets 9,153 4,335 n/a 33,742 29,033 n/a 893 780 n/a - Liabilities — — n/a (16,256) (14,019) n/a — — n/a Total non-current net assets 9,153 4,335 n/a 17,486 15,014 n/a 893 780 n/a Net assets/(liabilities) 6,132 1,447 n/a (1,929) (5,248) n/a 4,014 3,632 n/a Yantai Pengai Jiayan Ninghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 13,614 14,806 3,753 1,696 1,055 n/a - Liabilities (23,564) (24,410) (31,845) (1,060) (1,397) n/a Total current net (liabilities)/assets (9,950) (9,604) (28,092) 636 (342) n/a Non-current - Assets 38,441 35,387 33,234 3,856 3,342 n/a - Liabilities (18,299) (17,748) (17,086) (424) (88) n/a Total non-current net assets 20,142 17,639 16,148 3,432 3,254 n/a Net assets 10,192 8,035 (11,944) 4,068 2,912 n/a Summarised statements of comprehensive income Huizhou Pengai Shanghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 35,184 26,852 21,561 33,834 29,839 21,674 Profit/(loss) before income tax 5,170 2,743 (8,222) 689 (3,884) (25,217) Income tax (expense)/credit (1,293) (685) 297 (172) 157 1,347 Profit/(loss) and total comprehensive income/(loss) for the year 3,878 2,058 (7,925) 517 (3,727) (23,870) Total comprehensive income/(loss) allocated to non‑controlling interests 1,338 710 (2,734) 77 (746) (4,737) Dividend paid to non‑controlling interests 1,478 750 1,116 1,463 — — 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of comprehensive income (Continued) Chengdu Yueji Xiuqi Pengai Haikou Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 23,766 8,221 6,290 33,057 28,530 28,251 25,458 20,184 24,134 Profit/(loss) before income tax (4,722) (6,674) (6,280) 8,678 (1,135) (19,411) 2,001 (1,696) (10,966) Income tax (expense)/credit — — (21) 803 (139) 2,586 (500) 192 (84) Profit/(loss) and total comprehensive income/(loss) for the year (4,722) (6,764) (6,301) 9,481 (1,274) (16,825) 1,501 (1,504) (11,050) Total comprehensive income/(loss) allocated to non‑controlling interests (1,515) (2,029) (1,890) 1,043 (140) (1,851) 195 (196) (1,436) Dividend paid to non‑controlling interests — — — — — — 407 186 — Shenzhen Yueji Shenzhen Yuexin Nanchang Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 20,809 13,754 45 34,104 33,157 32,430 2,198 — — Profit/(loss) before income tax 4,897 (4,656) (406) 2,240 (3,710) (2,937) (2,449) (382) (300) Income tax (expense)/credit (1,224) (29) (21) (560) 391 734 — — — Profit/(loss) and total comprehensive income/(loss) for the year 3,673 (4,685) (427) 1,680 (3,319) (2,203) (2,449) (382) (300) Total comprehensive income/(loss) allocated to non-controlling interests 1,469 (1,874) (171) 672 (1,328) (881) (898) (187) (147) Dividend paid to non-controlling interests — — — — — — — — — 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of comprehensive income (Continued) Yantai Pengai Jiayan Ninghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 32,668 25,958 15,295 5,211 4,841 46 Profit/(loss) before income tax 1,036 (2,465) (21,773) 1,182 (1,317) (604) Income tax (expense)/credit (259) 307 1,795 (113) 162 (39) Profit/(loss) and total comprehensive income/(loss) for the year 777 (2,158) (19,978) 1,069 (1,155) (643) Total comprehensive income/(loss) allocated to non-controlling interests 85 (237) (2,198) 524 (566) (315) Dividend paid to non-controlling interests — — — — — — Summarised statements of cash flows Huizhou Pengai Shanghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from operations 5,488 3,192 1,217 11,170 (2,240) 2,587 Income tax paid (715) (1,070) (211) (436) (444) (27) Net cash generated from/(used in) operating activities 4,773 2,122 1,006 10,734 (2,684) 2,560 Net cash used in investing activities (708) (78) (589) (833) (5,407) (2,437) Net cash used in financing activities (4,285) (2,175) (18) — (2,082) — Net (decrease)/increase in cash and cash equivalents (220) (131) 399 9,901 (10,173) 123 Cash and cash equivalents at beginning of the year 647 427 296 733 10,634 461 Cash and cash equivalents at end of the year 427 296 695 10,634 461 584 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of cash flows (Continued) Chengdu Yueji Xiuqi Pengai Haikou Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from/(used in) operations (1,279) (3,782) 490 4,417 7,208 (1,419) 14,810 2,462 2,162 Income tax paid (347) — (365) — — — (492) (14) (8) Net cash generated from/(used in) operating activities (1,626) (3,782) 125 4,417 7,208 (1,419) 14,318 2,448 2,154 Net cash (used in)/generated from investing activities (245) 4,358 2 (4,756) (4,305) (767) (14,437) (1,673) (1,300) Net cash used in financing activities — (1,044) — — (3,081) 2,880 (423) (629) (100) Net increase/ (decrease) in cash and cash equivalents (1,871) (468) 127 (339) (178) 694 (542) 146 754 Cash and cash equivalents at beginning of the year 2,367 496 28 526 187 9 618 76 222 Cash and cash equivalents at end of the year 496 28 155 187 9 703 76 222 976 Shenzhen Yueji Shenzhen Yuexin Nanchang Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from/(used in) operations 3,815 1,340 140 3,545 4,187 191 (221) (351) (1) Income tax paid (1) (45) — — — — 134 — — Net cash (used in)/generated from operating activities (3,814) 1,295 140 3,545 4,187 191 (87) (351) (1) Net cash (used in)/generated from investing activities (3,776) 5,322 — (4,266) (1,096) (64) (1) 330 — Net cash generated from/(used in) financing activities 600 (7,423) — — (3,194) — — — — Net increase/ (decrease) in cash and cash equivalents 638 (806) 140 (721) (103) 127 (88) (21) (1) Cash and cash equivalents at beginning of the year 187 825 19 867 147 44 110 22 1 Cash and cash equivalents at end of the year 825 19 159 147 44 171 22 1 — 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of cash flows (Continued) Yantai Pengai Jiayan Ninghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from/(used in) operations 4,278 2,544 47 1,352 (327) (53) Income tax paid (35) — — — (74) (23) Net cash generated from/(used in) operating activities 4,243 2,544 47 1,352 (401) (76) Net cash used in investing activities (3,161) (1,848) — (3,479) (46) — Net cash (used in)/generated from financing activities — (1,646) — 3,000 (343) — Net increase/ (decrease) in cash and cash equivalents 1,082 (950) 47 873 (790) (76) Cash and cash equivalents at beginning of the year 382 1,464 514 — 873 83 Cash and cash equivalents at end of the year 1,464 514 561 873 83 7 |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2021 | |
Commitments | |
Commitments | 34 Commitments (a) Capital commitments 2020 2021 RMB’000 RMB’000 Contracted but not provided for - Property, plant and equipment 8 — - Investments — — 8 — (b) Operating lease commitments The Group leases premises for aesthetic healthcare services and offices under non-cancellable operating agreements. The lease terms are between 3 and 9 years, and majority of lease agreements are renewable at the end of the lease period at market rate. From 1 January 2021, the Group has recognised right-of-use assets for these leases, except for short-term as stated in note 2.25 and note 11. The future aggregate minimum lease payments under non-cancellable operating leases as follows: 2020 2021 RMB’000 RMB’000 Not later than 1 year 20 10 (c) Contingencies Certain subsidiaries of the Company have been named as defendants in four litigations in the PRC. The maximum amount of the damages claimed by the plaintiffs amounted to an aggregate of approximately RMB1,944,655 (2020: RMB8,186,000). No restricted cash was reserved as at December 31, 2021. |
Related party transactions
Related party transactions | 12 Months Ended |
Dec. 31, 2021 | |
Related party transactions | |
Related party transactions | 35 Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control, common significant influence or joint control. Members of key management and their close family member of the Group are also considered as related parties. The following significant transactions were carried out between the Group and its related parties in addition to the related party information shown elsewhere in these consolidated financial statements. In the opinion of the directors of the Company, the related party transactions were carried out in the normal course of business and at terms negotiated between the Group and the respective related parties. (a) Transactions with related parties 2020 2021 RMB’000 RMB’000 Depreciation and interest expense - A related company 2,182 2,040 Medical Equipment rental -A related company — 3,218 (b) Balances with related parties 2020 2021 RMB’000 RMB’000 Current (Note i) Amounts due from related parties Amounts due from related companies 94 — Amounts due from non‑controlling interests 6,599 4,391 6,693 4,391 Amounts due to related parties Amounts due to related companies 620 473 Amounts due to non‑controlling interests 604 — 1,224 473 Note i: Balances due from/to related parties are unsecured, interest free, repayable on demand and are denominated in RMB. Their carrying values approximate to their fair values. 35 Related party transactions (Continued) (c) Key management compensation Key management includes directors and senior managements. The compensation paid or payable to key management for employee services is shown below: 2020 2021 RMB’000 RMB’000 Basic salaries and bonus 13,428 17,740 Share based compensation 54,662 24,547 Pension costs - defined contribution plans 214 376 68,304 42,663 (d) Personal guarantees from Dr. Zhou Pengwu, Dr. Zhou Yitao, Zhou Xichun and Ms. Ding Wenting and corporate guarantee from a related company controlled by Dr. Zhou Pengwu 2020 2021 RMB’000 RMB’000 Bank borrowings of the Group secured by personal guarantees from Dr. Zhou Pengwu, Dr. Zhou Yitao and Ms. Ding Wenting and corporate guarantee from a related company 172,131 94,270 Bank borrowings of the Group secured by personal properties from Dr. Zhou Pengwu and Ms. Ding Wenting 25,725 9,000 |
Particulars of the subsidiaries
Particulars of the subsidiaries | 12 Months Ended |
Dec. 31, 2021 | |
Particulars of the subsidiaries | |
Particulars of the subsidiaries | 36 Particulars of the subsidiaries The following is a list of the principal subsidiaries at 31 December 2020 and 2021: Place of incorporation/ Registered capital/ Interest held Name establishment issued share capital Principal activities 2020 2021 Directly hold: Dragon Jade Holdings Limited British Virgin Islands (The “BVI”) Registered capital of 1 share without par value Investment holding and provision of management services 100 % 100 % ( 龍翠控股有限公司 ) Stargaze Wealth Limited BVI Registered capital of 50,000 shares without par value Investment holding and provision of management services 100 % 100 % ( 遙望星空有限公司 ) Indirectly hold: Peng Oi Investment (Hong Kong) Holdings Limited Hong Kong 10,000 ordinary shares Investment holding and provision of management services 100 % 100 % ( 鵬愛投資 ( 香港 ) 集團有限公司 ) Peng Yida Business Consulting (Shenzhen) Co.,Ltd The PRC Registered capital of Hong Kong dollar 500,000,000 Investment holding and provision of management services 100 % 100 % ( 鵬意達商務諮詢 ( 深圳 ) 有限公司 ) Shenzhen Pengai Hospital Investment Management Co., Ltd. The PRC Registered capital of RMB 115,000,000 Investment holding and provision of management services 100 % 100 % ( 深圳鵬愛醫院投資管理有限公司 ) Aesthetic Medical International Holdings (Singapore) Pte. Ltd. Singapore Singapore dollars 10 Investment holding and provision of management services 100 % 100 % ( 中國醫美控股 ( 新加坡 ) 有限公司 ) Shenzhen Pengcheng General Hospital Co., Ltd. The PRC Registered capital of RMB 36,000,000 Provision of aesthetic medical services and general healthcare services 100 % 100 % ( 深圳鵬程醫院有限公司 ) Shenzhen Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB 130,000,000 Provision of aesthetic medical services 100 % 100 % ( 深圳鵬愛醫療美容醫院有限公司 ) Shenzhen Pengai Beauty Promise Cosmetic Co., Ltd. The PRC Registered capital of RMB 100,000 Sales of cosmetic products 100 % 100 % ( 深圳市鵬愛美麗約定美容有限公司 ) Nanchang Pengai Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB 5,000,000 Provision of aesthetic medical services 51 % — ( 南昌鵬愛醫療美容門診部有限公司 ) Haikou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB 3,000,000 Provision of aesthetic medical services 87 % 87 % ( 海口鵬愛醫療美容醫院有限公司 ) Huizhou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB 6,000,000 Provision of aesthetic medical services 67.5 % 67.5 % ( 惠州鵬愛醫療美容醫院有限公司 ) Jinan Pengai Cosmetic Surgery Hospital Co., Ltd. The PRC Registered capital of RMB 5,210,000 Provision of aesthetic medical services 95 % 95 % ( 濟南鵬愛美容整形醫院有限公司 ) Shanghai Pengai Medical Technology Co., Ltd. The PRC Registered capital of RMB 500,000 Provision of medical aesthetic technical consulting and management services 100 % 100 % ( 上海鵬愛醫療科技有限公司 ) Shanghai Qiyue Medical Techonology Co., Ltd. The PRC Registered capital of RMB 20,000,000 Provision of medical aesthetic technical consulting and management services 51 % 51 % ( 上海祺嶽醫療科技有限公司 ) Shengli Aesthetic Technology Investment,Hong Kong Company Limited Hong Kong 10,000 ordinary shares Investment holding and provision of management services 100 % 100 % Aih Investment Management Corp. U.S.A Registered capital of 1,000,000 shares with a par of USD 0.01 per share Investment holding and provision of management services 100 % 100 % 36 Particulars of the subsidiaries (Continued) Place of incorporation/ Registered capital/ Interest held Name establishment issued share capital Principal activities 2020 2021 Indirectly hold (Continued): Shenzhen Pengai Culture Broadcast Co., Ltd. The PRC Registered capital of RMB1,000,000 Provision of cultural, artistic activities, corporate image, exhibition planning and advertising service 100 % 100 % (深圳鵬愛文化傳播有限公司) Changsha Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB500,000 Provision of aesthetic medical services 89 % 77 % (長沙鵬愛醫療美容醫院有限公司) Shanghai Pengai Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 80 % 80 % (上海鵬愛醫療美容門診部有限公司) Newa Medical Aesthetics Limited Hong Kong 1,000,000 ordinary shares Provision of aesthetic medical services 100 % 100 % Chongqing Pengai Aesthetic Medical Hospital Co. Ltd. The PRC Registered capital of RMB25,000,000 Provision of aesthetic medical services 100 % — (重慶鵬愛醫療美容門醫院有限公司) Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB18,800,000 Provision of aesthetic medical services 76 % 76 % (廣州鵬愛醫療美容門診部有限公司) Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd. The PRC Registered capital of RMB12,000,000 Provision of aesthetic medical services 89 % 89 % (廣州鵬愛醫療美容醫院有限公司) Chengdu Pengai Yueji Medical Aesthetic Clinic Co., Ltd. (成都鵬愛悅己醫療美容門診部有限公司) The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 70 % — Hangzhou Pengai Aesthetic Medical Clinic Co., Ltd. (杭州鹏爱医疗美容门诊部有限公司) The PRC Registered capital of RMB6,000,000 Provision of aesthetic medical services 80 % 100 % Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB4,000,000 Provision of aesthetic medical services 70 % — Shanghai Jiahong (formerly known as Shanghai Mingyue Yueji) Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB5,000,000 Provision of aesthetic medical services 68 % 64 % Jiangsu Liangyan Hospital Management Co., Ltd. The PRC Registered capital of RMB10,000,000 Investment holding and provision of management services 80 % — Yunnam Liangyan Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB10,000,000 Investment holding and provision of management services 41.6 % — Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB8,000,000 Provision of aesthetic medical services 39.5 % — Kunming Liangyan Hospital Management Co., Ltd. The PRC Registered capital of RMB2,000,000 Provision of aesthetic medical services 80 % — Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. (廣州鵬愛秀琪醫療美容門診部有限公司) The PRC Registered capital of RMB1,000,000 Provision of aesthetic medical services — 55.5 % Beijing AomeiYixin Investment ConsultantCo., Ltd. (北京澳美醫信投資顧問有限公司) The PRC Registered capital of RMB500,000 Investment holding and provision of management services — 95 % Beijing Haiyue Xingguang Aesthetic Medical Clinic (北京海悅星光醫療美容診所) The PRC — Provision of aesthetic medical services — 95 % Nanchang Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. (南昌鵬愛秀琪醫療美容醫院有限公司) The PRC Registered capital of RMB500,000 Provision of aesthetic medical services — 100 % Yantai Pengai Cosmetic Surgery Hospital Co., Ltd (煙台鵬愛美容整形醫院有限公司) The PRC Registered capital of RMB10,000,000 Provision of aesthetic medical services 89 % 89 % Shenzhen Pengai Yuexin Aesthetic Medical Hospital (深圳鵬愛悅心醫療美容醫院) The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 60 % — Shenzhen Pengai Yueji Aesthetic Medical Hospital ( The PRC Registered capital of RMB8,000,000 Provision of aesthetic medical services 60 % — Ninghai Pengai Aesthetic Medical Clinic Co.,Ltd. ( The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 51 % — |
Additional information_ condens
Additional information: condensed financial statements of the Company | 12 Months Ended |
Dec. 31, 2021 | |
Additional information: condensed financial statements of the Company | |
Additional information: condensed financial statements of the Company | 37 Additional information: condensed financial statements of the Company The condensed financial statements of Aesthetic Medical International Holdings Group Limited have been prepared in accordance with Securities and Exchange Commission Regulation S-X Rule 5-04 and Rule 12-04. The Company records its investments in subsidiaries under the equity method of accounting. Such investments and loans to subsidiaries are presented on the condensed financial statements as “Investment in subsidiaries and due from subsidiaries” and the profit of the subsidiaries is presented as “Profit from subsidiaries” in the condensed statements of comprehensive income. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these financial statements should be read in conjunction with the notes to the consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with IFRS have been condensed or omitted. As of December 31, 2020 and 2021, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those, if any, which have been separately disclosed in the consolidated financial statements. Condensed balance sheets of the parent company 2020 2021 RMB’000 RMB’000 ASSETS Non ‑ current assets Investments in subsidiaries and due from subsidiaries 452,109 — Current assets Other receivables, deposits and prepayments 4,504 — Cash and cash equivalents 11,500 5,250 16,004 5,250 Total assets 468,113 5,250 EQUITY AND LIABILITIES Equity attributable to owners of the Company Share capital and treasury shares (1,554) (1,554) Other reserves 427,290 (42,434) Total equity 425,736 (43,988) LIABILITIES Non ‑ current liabilities Convertible note 34,190 38,059 34,190 38,059 Current liabilities Accruals, other payables and provisions 8,187 11,179 Total liabilities 42,377 49,238 Total equity and liabilities 468,113 5,250 37 Additional information: condensed financial statements of the Company (Continued) Condensed statements of comprehensive income of the parent company 2019 2020 2021 RMB’000 RMB’000 RMB’000 Profit/(loss) from subsidiaries 40,231 (140,096) (469,724) Selling expenses (1,889) (1,228) (511) General and administrative expenses (72,908) (103,982) (47,188) Finance income — — — Finance costs (4,144) — (338) Other loss, net — — (6,968) Fair value loss of convertible redeemable preferred shares 136,656 — — Fair value loss of convertible note (5,193) (1,599) (4,240) Fair value loss of exchangeable note liabilities 45,274 — — Fair value loss of derivative financial instrument 301 — — (Loss)/profit before income tax 138,328 (246,905) (528,969) Income tax expense — — — (Loss)/profit for the year 138,328 (246,905) (528,969) Other comprehensive income/(loss): Items that may be subsequently reclassified to profit or loss Currency translation differences 672 (731) 574 Total other comprehensive income/(loss) for the year, net of tax 672 (731) 574 Total comprehensive income/(loss) for the year 139,000 (247,636) (528,395) Condensed statements of cash flows of the parent company 2019 2020 2021 RMB’000 RMB’000 RMB’000 Net cash used in operating activities (55,411) (76,639) (6,250) Net cash used in investing activities (7,940) (8,372) — Net cash generated from financing activities 101,977 30,953 — Net increase/(decrease) in cash and cash equivalents 38,626 (54,058) (6,250) Cash and cash equivalents at beginning of the year 26,932 65,558 11,500 Cash and cash equivalents at end of the year 65,558 11,500 5,250 |
Summary of significant accoun_2
Summary of significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Summary of significant accounting policies | |
Basis of preparation | 2.1 Basis of preparation The consolidated financial statements of the Company have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board. These consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of convertible note, which was carried at fair value. Impact of COVID-19 Since the beginning of 2021, COVID-19 outbreaks continued to take place from time to time, and some of the Group’s treatment centers were shut down temporarily due to public safety concerns and governmental regulations, including those in Shanghai which haven’t resumed business operation at the date of this report. As the business of the Group was significantly impacted by COVID-19, the Group has ceased operation of or divested certain treatment centers which either are located in non-core markets or did not reach the Company’s internal performance requirements, after reviewing the business performance of each cash generating unit (“CGU”) including the related goodwill and the recoverable amount of a CGU. Impairment tests were performed over the CGU and the fair value of each CGU estimated using a discounted cash flow model covering a five-year period. The Company’s impairment test indicated that the goodwill had a carrying value that was not recoverable, resulting in an impairment charge of RMB122,099,000, which was recorded to reduce the carrying value of CGU to its implied fair value. Going Concern The consolidated financial statements of the Company have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As a result, the Group had a loss for the year of RMB 669,518,000 These factors raise substantial doubt about the Company’s ability to continue as a going concern. Besides continuing to negotiate with the banks, the Company is evaluating several measures of financing, such as external financings, will also be considered. Currently, the Company intends to raise loans from financial institutions and potential funders to maintain its normal operations. The Company’s ability to continue as a going concern is primarily dependent on the Company’s ability to arrange adequate financing arrangements and generate cash flows from its operations and the completion of private placement from new investor. 2 Summary of significant accounting policies (Continued) 2.1 Basis of preparation (Continued) Going Concern (Continued) The preparation of consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4. |
Changes in accounting policy and disclosures | 2.2 Changes in accounting policy and disclosures 2.2.1 New standards and amendments to standards adopted by the Group The following new standards and amendments to standards are mandatory for accounting periods beginning on or after 1 January 2021. The adoption of these new standards and amendments to standards does not have significant impact to the results and financial position of the Group: Amendments to IFRS 16: COVID-19 Related Rental Concession Amendments to IAS 39, IFRS 4, IFRS 7, IFRS 9 and IFRS 16: Interest Rate Benchmark Reform 2.2.2 New standards, amendments to standards and interpretations not yet adopted The following are new standards, amendments to standards and interpretations which have been issued but are not effective and have not been early adopted. The Group plans to adopt these new standards, amendments to standards and interpretations when they become effective: Amendments to IFRS 10 and IAS 28 (2011): Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture To be determined Amendments to IFRS 3: Reference to Conceptual Framework 1 January 2022 IFRS 17: Insurance Contracts and related amendments 1 January 2023 Amendments to IAS 16: Proceeds Before Intended Use 1 January 2022 Amendments to IAS 37: Onerous Contracts-Cost of Fulfilling a Contract 1 January 2022 Amendments to IAS 1: Classification of Liabilities as Current and Non-current 1 January 2023 Annual Improvements to 2018-2021 cycle: Amendments to IFRS 1, IFRS 9, IFRS 16 and IAS 41 1 January 2022 Amendments to IAS 1: Disclosure of accounting policies 1 January 2023 Amendments to IAS 8: Definition of accounting estimates 1 January 2023 2021 Amendment to IFRS 16 Leases: COVID-19-Related Rent Concessions beyond 30 June 2021 1 April 2021 Amendments to IAS 12: Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction 1 January 2023 2 Summary of significant accounting policies (Continued) 2.2 Changes in accounting policy and disclosures (Continued) 2.2.2 New standards, amendments to standards and interpretations not yet adopted (Continued) The Group will adopt the above new or revised standards, amendments and interpretations to existing standards as and when they become effective. Management is in the process of assessing the impact of these standards, amendments and interpretations to existing IFRS. None of these is expected to have a significant effect on the consolidated financial statements of the Group. |
Subsidiaries | 2.3 Subsidiaries Consolidation A subsidiary is an entity (including a structured entity) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases. (a) Business combinations The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognises any non-controlling interest in the acquiree on an acquisition-by- acquisition basis. Non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of the entity’s net assets in the event of liquidation are measured at either fair value or the present ownership interests’ proportionate share in the recognised amounts of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at their acquisition date fair value, unless another measurement basis is required by IFRS. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is re-measured to fair value at the acquisition date; any gains or losses arising from such re-measurement are recognised in consolidated statement of comprehensive income. Any contingent consideration to be transferred by the Group is recognised at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration that is deemed to be an asset or liability is recognised in accordance with IFRS 9 in consolidated statement of comprehensive income. Contingent consideration that is classified as equity is not remeasured, and its subsequent settlement is accounted for within equity. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If the total of consideration transferred, non-controlling interest recognised and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognised directly in the statement of comprehensive income. 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (a) Business combinations (Continued) Intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. (b) Changes in ownership interests in subsidiaries without change of control Transactions with non-controlling interests that do not result in a loss of control are accounted for as equity transactions - that is, as transactions with the owners of the subsidiary in their capacity as owners. The difference between fair value of any consideration paid and the relevant share acquired of the carrying amount of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. (c) Disposal of subsidiaries When the Group ceases to have control, any retained interest in the entity is re-measured to its fair value at the date when control is lost, with the change in carrying amount recognised in consolidated statement of comprehensive income. The fair value is the initial carrying amount for the purposes of subsequently accounting for the retained interest as an associate, joint venture or financial asset. In addition, any amounts previously recognised in other comprehensive income in respect of that entity are accounted for as if the Group had directly disposed of the related assets or liabilities. It means the amounts previously recognised in other comprehensive income are reclassified to consolidated statement of comprehensive income or transferred to another category of equity as specified/permitted by applicable IFRSs. (d) Contractual arrangements with respect to equity interests in certain PRC subsidiaries Since the Industry Catalog for Guiding Foreign Investment (Revision 2015) became effective in April 2015, PRC law only allows foreign investment in PRC medical institutions through joint venture entities, and the foreign shareholding in these entities is limited to 70.0%. The Company historically held more than 70.0% equity interest in certain of its PRC subsidiaries that are medical institutions which the Company acquired or established after the effective date of the Industry Catalog for Guiding Foreign Investment (Revision 2015). The Company had decreased its shareholding to 70.0% in such PRC subsidiaries by transferring excessive equity interests to Dr. Zhou Pengwu and certain employees of the Group since 2018. The Company entered into a series of agreement (“Contractual Arrangements”) with Dr. Zhou Pengwu, Yantai Pengai Cosmetic Surgery Hospital Co., Ltd., Hangzhou Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd., Changsha Pengai Aesthetic Medical Hospital Co., Ltd., Shanghai Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd., Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd., Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd., Beijing Aomei Yixin Investment Consultant Co., Ltd., Shenzhen Miaoyan Aesthetic Medical Clinic, Nanchang Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd, Shanghai Jiahong Aesthetic Medical Clinic Co., Ltd. (collectively “Relevant Subsidiaries”) and Ms. Ding Wenting in 2018, 2019, 2020, 2021, and 2022 with respect to the 24.0%, 30.0%, 22.0%, 15.0%, 22.0%, 26.0%, 25%, 30%, 30% 19% and 12% equity interests in the respective aforementioned Relevant Subsidiaries (“Target Equity Interests”). These Contractual Arrangements enable the Company to (i) exercise control over the Target Equity Interests in the Relevant Subsidiaries; (ii) receive economic benefits from the Target Equity Interests in Relevant Subsidiaries; and (iii) have an exclusive option to purchase all or part of the Target Equity Interests when and to the extent permitted by PRC laws. 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (d) Contractual arrangements with respect to equity interests in certain PRC subsidiaries (Continued) As of December 31, 2021, several of the above-mentioned subsidiaries have been divested or ceased operation of, including Chongqing Pengai Aesthetic Medical Hospital Co., Ltd., Chengdu Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Shenzhen Pengai Yuexin Aesthetic Medical Hospital, Shenzhen Pengai Yueji Aesthetic Medical Hospital, Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd., Jiangsu Liangyan Hospital Management Co., Ltd., Yunnam Liangyan Aesthetic Medical Clinic Co., Ltd., Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. and Kunming Liangyan Hospital Management Co., Ltd. Their corresponding Contractual Arrangements were no longer valid or applicable since then. The principal terms of the Contractual Arrangements are described below: (i). Loan agreement Shenzhen Pengai Investment, as the lender, entered into certain loan agreements with Dr. Zhou Pengwu, as the borrower. Pursuant to each of these loan agreements, Shenzhen Pengai Investment agrees to extend a loan to Dr. Zhou Pengwu in an equivalent amount to the purchase price to be paid by Dr. Zhou Pengwu for acquiring the Target Equity Interests. Pursuant to each of these loan agreements, Dr. Zhou Pengwu shall repay the loan by transferring the current and future economic interest of the Target Equity Interests to Shenzhen Pengai Investment. (ii). Economic interest transfer agreement Dr. Zhou Pengwu, Shenzhen Pengai Investment and each of the Relevant Subsidiaries entered into certain economic interest transfer agreements. Pursuant to each of these economic interest transfer agreements, the economic interest in relation to the Target Equity Interests currently held and subsequently acquired by Dr. Zhou Pengwu, including but not limited to (i) incomes arising from the disposal of the Target Equity Interests (including derivative equity interest of the Target Equity Interests) under any circumstance; (ii) dividends and bonus obtained on the basis of the Target Equity Interests (including derivative equity interest of the Target Equity Interests) under any circumstance; (iii) residual assets and other economic profits allocated after the liquidation of the Relevant Subsidiaries, and (iv) any other cash income, property and economic benefit arising from the Target Equity Interests (including derivative equity interest of the Target Equity Interests), shall be transferred to Shenzhen Pengai Investment. Upon the execution of each economic interest transfer agreement, the repayment obligation of Dr. Zhou Pengwu under each loan agreement is deemed fully discharged. (iii). Exclusive option agreement Dr. Zhou Pengwu, Shenzhen Pengai Investment and each of the Relevant Subsidiaries entered into certain exclusive option agreements. Pursuant to these exclusive option agreements, Dr. Zhou Pengwu irrevocably granted Shenzhen Pengai Investment an exclusive right to purchase, or have its designated person(s) to purchase, at its discretion, all or part of his equity interest in the Relevant Subsidiaries, and the purchase price shall be the lowest price permitted by applicable PRC law. Each of Dr. Zhou Pengwu and the Relevant Subsidiaries undertakes that, among others, without the prior written consent of Shenzhen Pengai Investment, he or it shall or shall cause the Relevant Subsidiaries not to declare any dividends or distribute any residual profits, change or amend its articles of association, increase or decrease its registered capital, or change its structure of registered capital in other manners. In the event that Dr. Zhou Pengwu increases its capital injection into the Relevant Subsidiaries, Dr. Zhou Pengwu undertakes and confirms that any additional equity so acquired shall be subject to the purchase option. Unless terminated by Shenzhen Pengai Investment at its sole discretion, the exclusive option agreement will remain effective until all equity interest in the Relevant Subsidiaries held by Dr. Zhou Pengwu are transferred or assigned to Shenzhen Pengai Investment or its designated person(s). 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (iv). Power of attorney Pursuant to relevant power of attorney executed by Dr. Zhou Pengwu, he has irrevocably authorized Shenzhen Pengai Investment or its designated person(s) to exercise all of such shareholder’s voting and other rights associated with the Target Equity Interests in each of the Relevant Subsidiaries, including but not limited to, the right to attend shareholder meetings, the right to vote, the right to sell, transfer, pledge or dispose of the Target Equity Interests and the right to appoint legal representatives, directors and other management. The proxy agreement remains effective as long as Dr. Zhou Pengwu remains a shareholder of the Relevant Subsidiaries, unless Shenzhen Pengai Investment has given contrary written instructions. (v). Equity interest pledge agreement Dr. Zhou Pengwu as pledgor, Shenzhen Pengai Investment as pledgee, and each of the Relevant Subsidiaries entered into certain equity interest pledge agreements. Pursuant to these equity interest pledge agreements, Dr. Zhou Pengwu has pledged all of the Target Equity Interests in Relevant Subsidiaries and agreed to pledge all future equity interest in the Relevant Subsidiaries acquired by him to Shenzhen Pengai Investment to guarantee the performance by Dr. Zhou Pengwu and the Relevant Subsidiaries of their respective obligations under the loan agreement, the economic interest transfer agreement, the exclusive option agreement and the power of attorney. If the Relevant Subsidiaries or Dr. Zhou Pengwu breach any obligations under these agreements, Shenzhen Pengai Investment, as pledgee, will be entitled to dispose of the pledged equity and have priority to be compensated by the proceeds from the disposal of the pledged equity. Dr. Zhou Pengwu shall not permit the existence of any security interest or other encumbrance on the pledged equity interest or any portion thereof, without the prior written consent of Shenzhen Pengai Investment and the Relevant Subsidiaries shall not assent to or assist in such actions. These equity interest pledge agreements will remain effective until Dr. Zhou Pengwu discharge all the obligations under the loan agreement, the economic interest transfer agreement, the exclusive option agreement and the power of attorney and the full payment of all direct, indirect and derivative losses and losses of anticipated profits, suffered by the pledgee, incurred as a result of any breach by Dr. Zhou Pengwu or the Relevant Subsidiaries under these agreements or invalidity, revocation and termination of any of these agreements. (vi). Spousal consent letter Pursuant to relevant spousal consent letters executed by Ms. Ding Wenting, she unconditionally and irrevocably agreed that the equity interest in each of the Relevant Subsidiaries held or to be held by Dr. Zhou Pengwu and registered or to be registered in his name will be disposed of pursuant to the loan agreement, the economic interest transfer agreement, the exclusive option agreement and the power of attorney. Ms. Ding Wenting agreed not to assert any rights over the equity interest in the Relevant Subsidiaries held or to be held by Dr. Zhou Pengwu. In addition, in the event that Ms. Ding Wenting obtains any equity interest in each of the Relevant Subsidiaries for any reason, she agreed to be bound by the Contractual Arrangements. (e) Risks in relation to the Contractual Arrangements In the opinion of the Company’s management, the Contractual Arrangements are in compliance with the current PRC laws and are legally binding and enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. 2 Summary of significant accounting policies (Continued) 2.3 Subsidiaries (Continued) Consolidation (Continued) (e) Risks in relation to the Contractual Arrangements (Continued) In January 2015, the Ministry of Commerce (“MOFCOM”), released for public comment a proposed PRC law, the Draft Foreign Investment Enterprises (“FIE”) Law, that appears to include contractual arrangements within the scope of entities that could be considered to be FIEs, that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of “actual control”. If the Draft FIE Law is passed by the People’s Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to include the Company’s contractual arrangements, and as a result, the Relevant Subsidiaries could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of FIEs where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The Draft FIE Law is silent as to what type of enforcement action might be taken. If the restrictions and prohibitions on FIEs included in the Draft FIE Law are enacted and enforced in their current form, the Company’s ability to use the contractual arrangements and the Company’s ability to conduct business through the contractual arrangements could be severely limited. The Company’s ability to control the Target Equity Interests in the Relevant Subsidiaries also depends on the power of attorney exercised by Shenzhen Pengai Investment to vote on all matters requiring shareholders’ approvals in the Relevant Subsidiaries. As noted above, the Company believes these power of attorney are legally binding and enforceable but may not be as effective as direct equity ownership. In addition, if the Company’s corporate structure or the contractual arrangements were found to be in violation of any existing PRC laws and regulations, the PRC regulatory authorities could, within their respective jurisdictions: ● ● ● ● ● The imposition of any of these restrictions or actions may result in a material adverse effect on the Company’s ability to conduct its business. In addition, if the imposition of any of these restrictions causes the Company to lose the right to direct the activities of the Relevant Subsidiaries or the right to receive their economic benefits, the Company may no longer be able to consolidate the financial statements of the Relevant Subsidiaries. In the opinion of management, the likelihood of losing the benefits in respect of the Company’s current ownership structure or the contractual arrangements is remote. |
Associates | 2 Summary of significant accounting policies (Continued) 2.4 Associates An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 2o% 5o% If the ownership interest in an associate is reduced but significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income is reclassified to profit or loss where appropriate. The Group’s share of post-acquisition profit or loss is recognised in the statement of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognises the amount adjacent to ‘share of profit of investments accounted for using equity method’ in the consolidated statement of comprehensive income. Profits and losses resulting from upstream and downstream transactions between the Group and its associate are recognised in the Group’s financial statements only to the extent of unrelated investor’s interests in the associates. Unrealised losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group. Gain or losses on dilution of equity interest in associates are recognised in the consolidated statement of comprehensive income. |
Segment reporting | 2.5 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker, which is the Board of Directors. In the respective periods presented, the Company had one single operating and reportable segment, namely the provision of non- surgical aesthetic medical services, surgical aesthetic medical services, other aesthetic medical services and general healthcare services. As the Company’s long-lived assets are substantially all located in the PRC and substantially all of the Company’s revenue is derived from within the PRC, no geographical information is presented. |
Foreign currency translation | 2.6 Foreign currency translation (a) Functional and presentation currency Items included in the consolidated financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in RMB, which is the Company’s functional and the Group’s presentation currency. 2 Summary of significant accounting policies (Continued) 2.6 Foreign currency translation (Continued) (b) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re- measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in consolidated statement of comprehensive income. Exchange differences on Series A Preferred Shares, convertible note and exchangeable note liabilities were recorded in “fair value (loss)/gain of convertible redeemable preferred shares”, “fair value loss of convertible note” and “fair value (loss)/gain of exchangeable note liabilities”, respectively. (c) Group companies The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: (i) assets and liabilities for each balance sheet presented are translated at the closing rate at the reporting date; (ii) income and expenses for each statement of comprehensive income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and (iii) all resulting exchange differences are recognised in other comprehensive income. Goodwill and fair value adjustments arising on the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate. Currency translation differences arising are recognised in other comprehensive income. |
Property, plant and equipment | 2.7 Property, plant and equipment Property, plant and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the consolidated statement of comprehensive income during the financial period in which they are incurred. 2 Summary of significant accounting policies (Continued) 2.7 Property, plant and equipment (Continued) Depreciation of property, plant and equipment is calculated using the straight-line method to allocate cost of each asset to their residual values over their estimated useful lives, as follows: - Leasehold improvements Shorter of remaining lease term and the estimated useful lives of the assets - Right of use assets Shorter of the asset’s useful life and the lease term on a straight-line basis - Machinery and equipment 10 years - Office equipment, furniture, fixture and motor vehicles 5 - Buildings 20 The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within “general and administrative expenses” in the consolidated statement of comprehensive income. Gains and losses on lease modification relating to the full termination of the leases are recognised within “general and administrative expenses” in the consolidated statement of comprehensive income. |
Investment properties | 2.8 Investment properties Properties that are held for long-term rental yields or for capital appreciation or both, and that are not occupied by the companies in the Group, are classified as investment properties in the consolidated financial statements. Investment properties are carried at historical costs, including related transaction costs, less depreciation and impairment. Depreciation of the investment properties are calculated using the straight-line method to allocate cost over their estimated lives of 20 Subsequent expenditure is included to the asset’s carrying amount only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. All other repairs and maintenance costs are expensed in consolidated statement of comprehensive income during the financial periods in which they are incurred. |
Intangible assets | 2.9 Intangible assets (a) Goodwill Goodwill arises on the acquisition of subsidiaries represents the excess of the consideration transferred, the amount of any non-controlling interest in the acquire and the acquisition- date fair value of any previous equity interest in the acquiree over the fair value of the identified net assets acquired. For the purpose of impairment testing, goodwill acquired in a business combination is allocated to each of the cash-generating units (“CGUs”), or groups of CGUs, that is expected to benefit from the synergies of the combination. Each unit or group of units to which the goodwill is allocated represents the lowest level within the entity at which the goodwill is monitored for internal management purposes. 2 Summary of significant accounting policies (Continued) 2.9 Intangible assets (Continued) (a) Goodwill (Continued) Goodwill impairment reviews are undertaken annually or more frequently if events or changes in circumstances indicate a potential impairment. The carrying value of the CGU containing the goodwill is compared to the recoverable amount, which is the higher of value in use and the fair value less costs of disposal. Any impairment is recognised immediately as an expense and is not subsequently reversed. See note 14 for the goodwill impairment charges recognised in respective years presented. (b) Computer software Acquired computer software licenses are capitalised on the basis of the costs incurred to acquire and bring the specific software into usage. These costs are amortised using the straight-line method over their estimated useful lives of 5 years. Cost associated with maintaining computer software programmes are recognised as an expense as incurred. (c) Medical licenses and tradenames Medical licenses and tradenames acquired through business combinations are initially recognised at fair value. Medical licences are amortised on a straight-line basis over respective license periods (ranged from 2 19 |
Impairment of non-financial asset | 2.10 Impairment of non-financial asset Intangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortisation and are tested annually for impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in use. For purposes of periodic impairment assessment performed at each reporting date, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at each reporting date. |
Financial assets | 2.11 Financial assets 2.11.1 Classification The Group classifies its financial assets in the following measurement categories: (i) those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and (ii) those to be measured at amortised cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. 2 Summary of significant accounting policies (Continued) 2.11 Financial assets (Continued) 2.11.1 Classification (Continued) For assets measured at fair value, gain and loss will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held. For investments in equity instruments, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income. The Group reclassifies debt investments when and only when its business model for managing those assets changes. 2.11.2 Recognition and measurement Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are two measurement categories into which the Group classifies its debt instruments: ● ● Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group’s right to receive payments is established. Changes in the fair value of financial asset at fair value through profit or loss are recognised in other gains, net in the consolidated statement of comprehensive income as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at fair value through other comprehensive income are not reported separately from other changes in fair value. 2.11.3 Derecognition Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership. |
Offsetting financial instruments | 2 Summary of significant accounting policies (Continued) 2.12 Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the consolidated statements of financial position when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or the counterparty. |
Impairment of financial assets | 2.13 Impairment of financial assets The Group has the following types of financial assets subject to IFRS 9’s expected credit loss model: ● ● ● ● The Group assesses on a forward looking basis the expected credit losses associated with its assets carried at amortised cost. For trade receivables, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables. Impairment on other receivables, deposits, amounts due from related parties are measured as either 12-month expected credit losses or lifetime expected credit loss, depending on whether there has been a significant increase in credit risk since initial recognition, then impairment is measured as lifetime expected credit losses. To manage risk arising from pledged deposits and cash and cash equivalents, the Group only transacts with state-owned or reputable financial institutions. There has been no recent history of default in relation to these financial institutions. |
Inventories | 2.14 Inventories Inventories are stated at the lower of cost and net realisable value. Cost is determined using the weighted average method. Net realisable value is the estimated selling price in the ordinary course of business, less applicable variable selling expenses. |
Cash and cash equivalents | 2.15 Cash and cash equivalents In the consolidated statement of cash flows, cash and cash equivalents includes cash in hand and deposits held at call with banks. |
Assets (or disposal groups) held-for-sale | 2.16 Assets (or disposal groups) held-for-sale Assets (or disposal groups) are classified as held for sale when their carrying amount is to be recovered principally through a sale transaction and a sale is considered highly probable. The assets (except for certain assets as explained below), (or disposal groups), are stated at the lower of carrying amount and fair value less costs to sell. Deferred tax assets, assets arising from employee benefits, financial assets (other than investments in subsidiaries and associates) and investment properties, which are classified as held for sale, would continue to be measured in accordance with the policies set out elsewhere in Note 2. |
Share capital | 2 Summary of significant accounting policies (Continued) 2.17 Share capital Ordinary shares are classified as equity. Mandatorily redeemable preference shares are classified as liabilities. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
Trade and other payables | 2.18 Trade and other payables Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method. |
Borrowings | 2.19 Borrowings Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognised in consolidated statement of comprehensive income over the periods of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the periods of the facility to which it relates. Preference shares, if mandatorily redeemable at a specific date or redeemable at the option of the holder, are classified as liabilities. The dividends on these preference shares are recognised in the consolidated statement of comprehensive income as interest expense. Borrowings are removed from the consolidated balance sheets when the obligation specified in the contract is discharged, cancelled or expired. The difference between the carrying amount of a financial liability that has been extinguished or transferred to another party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognised in consolidated statement of comprehensive income as other income or finance costs. Where the terms of a financial liability are renegotiated and the entity issues equity instruments to a creditor to extinguish all or part of the liability (debt for equity swap), a gain or loss is recognised in consolidated statement of comprehensive income, which is measured as the difference between the carrying amount of the financial liability and the fair value of the equity instruments issued. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. |
Current and deferred income tax | 2.20 Current and deferred income tax The income tax expense for the year comprises current and deferred tax. Tax is recognised in the consolidated statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity. 2 Summary of significant accounting policies (Continued) 2.20 Current and deferred income tax (Continued) (a) The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the reporting date in the countries where the Company’s subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. (b) Deferred income tax Inside basis differences Deferred income tax is recognised, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled. Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised. Outside basis differences Deferred income tax liabilities are provided on taxable temporary differences arising from investments in subsidiaries and associates, except for deferred income tax liability where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future. Generally the Group is unable to control the reversal of the temporary difference of associates. Only when there is an agreement in place that gives the Group the ability to control the reversal of the temporary difference in the foreseeable futures, deferred tax liability in relation to taxable temporary difference arising from the associate’s undistributed profits is not recognised. Deferred income tax assets are recognised on deductible temporary differences arising from investments in subsidiaries and associates only to the extent that it is probable the temporary difference will reverse in the future and there is sufficient taxable profit available against which the temporary difference can be utilised. (c) Offsetting Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income taxes assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. |
Employee benefits | 2 Summary of significant accounting policies (Continued) 2.21 Employee benefits (a) The group companies incorporated in the PRC contribute based on certain percentage of the salaries of the employees to a defined contribution retirement benefit plan organised by relevant government authorities in the PRC on a monthly basis. The government authorities undertake to assume the retirement benefit obligations payable to all existing and future retired employees under these plans and the Group has no further obligation for post-retirement benefits beyond the contributions made. Contributions to these plans are expensed as incurred. Assets of the plans are held and managed by government authorities and are separate from those of the Group. (b) The Group recognises a liability and an expense for bonuses, based on performance and takes into consideration the profit attributable to the Group’s shareholders after certain adjustments. The Group recognises a provision where contractually obliged or where there is a past practice that has created a constructive obligation. (c) The Group measures share-based compensation at the grant date based on the fair value of the equity awards determined using the Binomial option-pricing model. As the Group has granted share options with service-only condition, the Group elected to recognize compensation expense over the period in which the recipient is required to provide service in exchange for the equity award. |
Provisions | 2.22 Provisions Provisions are recognised when the Group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense. |
Revenue recognition | 2.23 Revenue recognition Revenue is recognised when or as the control of the goods or services is transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. Depending on the terms of the contract and the applicable laws, services may be provided over time or at a point in time. When control of goods or services is transferred over time, revenue is recognised over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognised at a point in time when the customer obtains control of the goods or services. 2 Summary of significant accounting policies (Continued) 2.23 Revenue recognition (Continued) The progress towards complete satisfaction of the performance obligation is measured based on one of the following methods that best depict the Group’s performance in satisfying the performance obligation: ● ● A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due. A contract liability is recognised when the Group has the obligation to transfer services to the customers for which the consideration received (or an amount of considerations is due) exceed the measure of the remaining unsatisfied performance obligations. The Group recognises the costs of obtaining and fulfilling a contract with a customers within the contract assets if the Group expects to recover those costs. The following is a description of the accounting policy for the principal revenue streams of the Group: (i) Non-surgical aesthetic medical services, surgical aesthetic medical services and other aesthetic medical services The period of these services rendered is usually within a day, except for certain large-scale surgical aesthetic medical services in which customers receive inpatient treatment. The period of inpatient stays usually does not exceed more than a week. The Group has certain aesthetic medical services package in 2021 which customers pay in advance and with validity period of one year . If the package is not conducted services at end of the year and within one year, these balance will recorded as contract liabilities in the consolidated balance sheets. Revenue is recognised at a point in time when the respective services are rendered or contracture lability has fulfilled. For certain aesthetic medical services package in 2021, revenue is recognised over time by the proportion of service package is performed. (ii) General healthcare services Revenues are recognised upon the provision of the relevant services for which the service period is usually within a day. Revenue is recognised at a point in time when the respective services are rendered. Management reviews utilisation pattern of contract liabilities and treatment progress of individual customers on a regular basis to consider full recognition of the corresponding contract liabilities in the consolidated statement of comprehensive income. |
Interest income | 2.24 Interest income Interest income is recognised using the effective interest method. |
Leases | 2 Summary of significant accounting policies (Continued) 2.25 Leases The Group leases certain properties. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants. Leases are recognised as a right-of-use asset and a corresponding liability at the date on which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: ● ● The lease payments are discounted using the interest rate implicit in the lease, if that rate can be determined, or the entity’s incremental borrowing rate. Right-of-use assets are measured at cost comprising the following: ● ● ● The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. Payments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term or less than 12 months. The Group has adopted IFRS 16 from 1 January 2019 and has not restated comparatives for the 2018 reporting period, as permitted under the specific transitional provisions in the standard. The reclassifications and the adjustments arising from the new leasing rules are therefore recognised in the opening consolidated balance sheet on 1 January 2019. On adoption of IFRS 16, the Group recognised lease liabilities in relation to leases which had previously been classified as ‘operating leases’ under the principles of IAS 17 “Leases”. These liabilities were measured at the present value of the remaining lease payments, discounted using the lessee’s incremental borrowing rate as of 1 January 2019. |
Compound financial instruments | 2.26 Compound financial instruments Compound financial instruments of the Group comprise Series A Preferred Shares, convertible note and exchangeable note liabilities. 2 Summary of significant accounting policies (Continued) 2.26 Compound financial instruments (Continued) (a) Series A Preferred Shares Series A Preferred Shares are redeemable upon occurrence of certain future events and at the option of the holders. This instrument can be converted into ordinary shares of the Company at any time at the option of the holders or automatically converted into ordinary shares upon occurrence of an initial public offering of the Company or agreed by majority of the holders as set out in Note 25. The Group designated the Series A Preferred Shares as financial liabilities at fair value through profit or loss, except that the dividends rights portion is designated as an equity component. Financial liabilities are initially recognised at fair value. Any directly attributable transaction costs are recognised as finance costs in the consolidated statement of comprehensive income. Subsequent to initial recognition, the financial liabilities portion of the Series A Preferred Shares are carried at fair value with changes in fair value recognised in consolidated statement of comprehensive income. The Series A Preferred Shares are classified as non-current liabilities unless the Group has an obligation to settle the liability within 12 months after the end of the reporting period. (b) Convertible notes in 2016 and 2021 The Group designated the convertible note as financial liabilities at fair value through profit or loss. Convertible note is initially recognised at fair value. Any directly attributable transaction costs are recognised as finance costs in the consolidated statement of comprehensive income. Subsequent to initial recognition, the convertible note is carried at fair value with changes in fair value recognised in consolidated statement of comprehensive income. The convertible note is classified as non-current liabilities unless the Group has an obligation to settle the liability within 12 months after the end of the reporting period. For the convertible note in 2016, it is redeemable upon occurrence of certain future events and at the option of the Company. This instrument can be converted into Series B convertible redeemable preferred shares (“Series B Preferred Shares”) of the Company upon occurrence of certain future events as set out in Note 26. For the convertible note in 2021, it is redeemable at the option of the Company and the holder. This instrument can be converted into American Depository Receipts of the Company as set out in Note 26. (c) Exchangeable note liabilities Exchangeable notes issued by immediate holding companies can be exchanged into Series B Preferred Shares of the Company at any time at the option of the holder as set out in Note 27. The Group designated the exchangeable note liabilities as financial liabilities at fair value through profit or loss. Exchangeable note liabilities are initially recognised at fair value as the Company assumes liabilities without an exchange of any consideration. 2 Summary of significant accounting policies (Continued) 2.26 Compound financial instruments (Continued) (c) Exchangeable note liabilities (continued) Subsequent to initial recognition, the exchangeable note liabilities are carried at fair value with changes in fair value recognised in consolidated statement of comprehensive income. The exchangeable note liabilities are classified as non-current liabilities unless the Group has an obligation to settle the liabilities within 12 months after the end of the reporting period. |
Dividend distribution | 2.27 Dividend distribution Dividend distribution to the Company’s shareholders is recognised as a liability in the Group’s consolidated financial statements in the period in which the dividends are approved by the Company’s Board of Directors. |
Summary of significant accoun_3
Summary of significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Summary of significant accounting policies | |
Summary of new standards, amendments to standards and interpretations not yet adopted | Amendments to IFRS 10 and IAS 28 (2011): Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture To be determined Amendments to IFRS 3: Reference to Conceptual Framework 1 January 2022 IFRS 17: Insurance Contracts and related amendments 1 January 2023 Amendments to IAS 16: Proceeds Before Intended Use 1 January 2022 Amendments to IAS 37: Onerous Contracts-Cost of Fulfilling a Contract 1 January 2022 Amendments to IAS 1: Classification of Liabilities as Current and Non-current 1 January 2023 Annual Improvements to 2018-2021 cycle: Amendments to IFRS 1, IFRS 9, IFRS 16 and IAS 41 1 January 2022 Amendments to IAS 1: Disclosure of accounting policies 1 January 2023 Amendments to IAS 8: Definition of accounting estimates 1 January 2023 2021 Amendment to IFRS 16 Leases: COVID-19-Related Rent Concessions beyond 30 June 2021 1 April 2021 Amendments to IAS 12: Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction 1 January 2023 |
Summary of estimated useful lives of property, plant and equipment | - Leasehold improvements Shorter of remaining lease term and the estimated useful lives of the assets - Right of use assets Shorter of the asset’s useful life and the lease term on a straight-line basis - Machinery and equipment 10 years - Office equipment, furniture, fixture and motor vehicles 5 - Buildings 20 |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of fair value measurement of liabilities [line items] | |
Summary of non derivative financial liabilities by maturity groupings | Less than Between 1 and Between 2 and After 1 year 2 years 5 years 5 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2020 Borrowings 146,764 54,657 25,194 — 226,615 Convertible note — — 44,565 — 44,565 Lease liabilities 48,301 44,887 106,592 67,290 267,070 Trade payables 33,654 — — — 33,654 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) 38,092 — — — 38,092 Amounts due to related parties 1,224 — — — 1,224 268,035 99,544 176,351 67,290 611,220 At 31 December 2021 Borrowings 160,646 77,948 — — 238,594 Convertible note — 38,059 — — 38,059 Lease liabilities 32,964 30,810 58,745 38,282 160,801 Trade payables 31,256 — — — 31,256 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) 43,396 — — — 43,396 Amounts due to related parties 473 — — — 473 268,735 146,817 58,745 38,282 512,579 |
Summary of gearing ratios | 2020 2021 RMB’000 RMB’000 Total borrowings 211,745 233,815 Add: Convertible note (Note 26) 34,190 38,059 Less: Cash and cash equivalents (Note 18) (44,384) (39,289) Restricted cash (Note 18) (8,712) — Net debt 192,839 232,585 Total equity 425,736 (187,422) Total capital 618,575 45,163 Gearing ratio 31.2 % 514.99 % |
Summary of financial liabilities that are measured at fair value | Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 As at 31 December 2021 Liabilities Financial liabilities at fair value through profit or loss - Convertible note (Note 26) — — 38,059 38,059 — — 38,059 38,059 |
Level 3 | |
Disclosure of fair value measurement of liabilities [line items] | |
Summary of financial liabilities that are measured at fair value | The following table presents the changes in level 3 liability instrument for the year ended 31 December 2020: Convertible note (Note 26) Total RMB’000 RMB’000 Opening balance — — Convertible note issued 33,474 33,474 Unrealised exchange difference (883) (883) Change in fair value 1,599 1,599 Closing balance 34,190 34,190 3 Financial risk management (Continued) 3.3 Fair value estimation (Continued) The following table presents the changes in level 3 liability instrument for the year ended 31 December 2021: Convertible note (Note 26) Total RMB’000 RMB’000 Opening balance 34,190 34,190 Unrealised exchange difference (371) (371) Change in fair value 4,240 4,240 Closing balance 38,059 38,059 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue | |
Summary of revenue | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Non-surgical aesthetic medical services 489,569 452,670 334,248 Surgical aesthetic medical services 319,239 401,645 243,070 General healthcare services and other aesthetic medical services 60,242 47,258 68,275 869,050 901,573 645,593 |
Expenses by nature (Tables)
Expenses by nature (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Expenses by nature | |
Summary of expenses by nature | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Employee benefit expenses (Note 7) 258,495 322,563 309,250 Advertising and marketing expenses 303,856 380,794 255,534 Cost of inventories and consumables 112,617 163,881 174,991 Operating lease rental expenses 8,986 4,860 15,836 Amortisation and depreciation 83,834 106,405 99,135 Utilities and office expenses 51,271 52,666 76,579 Travelling and entertainment expenses 28,173 17,136 12,818 Bank charges 5,158 4,350 3,213 Loss on disposal of property, plant and equipment 1,444 915 — Legal and professional fees 6,032 19,273 30,570 Other expenses 25,479 25,207 9,820 885,345 1,098,050 987,746 |
Employee benefit expenses (Tabl
Employee benefit expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Employee benefit expenses | |
Summary of employee benefit expenses | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Wages and salaries 186,716 225,085 250,773 Share-based compensation expenses 47,788 78,967 35,463 Pension costs - defined contribution plans 12,935 5,841 16,942 Other staff welfare expenses 11,056 12,670 6,072 258,495 322,563 309,250 |
Finance income and costs (Table
Finance income and costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Finance income and costs | |
Summary of finance income and costs | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Finance costs Interest expense on bank borrowings (6,055) (8,897) (7,844) Interest expense on other borrowings (1,327) (3,599) (6,542) Interest expense on convertible note (4,144) — — Interest expense on lease liabilities (12,767) (16,693) (12,844) (24,293) (29,189) (27,230) Finance income Interest income on short-term bank deposits 388 1,185 113 Finance costs – net (23,905) (28,004) (27,117) |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income tax expense | |
Summary of income tax expense | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Current tax PRC enterprise income tax 20,393 486 8,208 Deferred tax Origination and reversal of temporary differences (Note 21) (6,357) (13,073) (20,006) Income tax expense/(credit) 14,036 (12,587) (11,798) |
Summary of taxation on the Group?s profit/(loss) before income tax differs from the theoretical amount that would arise using the taxation rate of PRC | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Profit/(loss) before income tax 152,364 (259,492) (681,314) Calculated at a taxation rate of 25% 38,091 (64,873) (170,329) Expenses not tax deductible 25,920 42,824 42,450 Income not subject to tax (50,693) (1,165) — Utilisation of previously unrecognised tax losses — (428) — Recognition of previously unrecognised temporary difference 384 (520) — Tax losses not recognized 2,369 13,034 117,454 Difference in overseas tax rates (124) 351 (304) Under‑provision in respect of prior years — — — Over‑provision in respect of prior years (1,727) (1,810) (1,069) Effect of preferential tax rates (184) — — Income tax expense/(credit) 14,036 (12,587) (11,798) |
(Loss)_earnings per share (Tabl
(Loss)/earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
(Loss)/earnings per share | |
Summary of computation of basic and diluted profit/(loss) per share | 2019 2020 2021 RMB’000 RMB’000 RMB’000 (Note i) (Note ii) (Note ii) Numerator: (Loss)/profit attributable to owners of the Company – basic 136,309 (235,479) (586,619) Reversal of fair value gain of: -Series A Preferred Shares (136,656) — — -Convertible note — — — -Exchangeable note liabilities (45,274) — — Reversal of interest expense on convertible note — — — Share based compensation — — — (Loss)/profit attributable to owners of the Company – diluted (45,621) (235,479) (586,619) Shares (denominator): Weighted average number of shares – basic 46,097,963 65,297,485 65,960,235 Conversion of Series A Preferred Shares 12,693,699 — — Conversion of convertible note — — — Conversion of exchangeable note liabilities 4,863,438 — — Cancellation of ordinary shares due to conversion of exchangeable note liabilities (4,863,438) — — Weighted average number of shares – diluted 58,791,662 65,297,485 65,960,235 (Loss)/earnings per share – basic (RMB) 2.96 (3.61) (8.89) Loss per share – diluted (RMB) (0.78) (3.61) (8.89) Note i The potential outstanding shares related to share option and the conversion of convertible note would be anti-dilutive and therefore, related changes in fair value and interest expense are not included in the computation of diluted loss per share. Note ii As the Group incurred loss for the year ended 31 December 2020 and 2021, share option and the conversion of convertible note would be anti-dilutive and therefore, related changes in fair value is not included in the computation of diluted loss per share. Diluted loss per share and basic loss per share are the same for the year ended 31 December 2020 and 2021. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, plant and equipment | |
Schedule of property, plant and equipment | Office equipment, Machinery furniture fixtures Leasehold and and motor Right of use Buildings improvements equipment vehicles assets Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 At 31 December 2020 Opening net book amount 48,349 186,237 71,806 16,530 196,401 519,323 Additions — 31,669 6,718 1,651 36,675 76,713 Transfer from investment properties 14,330 — — — — 14,330 Impairment loss (Note 14) — (364) (841) (119) (4,712) (6,036) Disposal — (815) (61) (50) (3,421) (4,347) Business combination (Note 29) — 29,481 15,571 6,486 147,757 199,295 Disposal of subsidiaries (Note 30) — (27,440) (13,353) (5,173) (123,655) (169,621) Depreciation charges (2,044) (23,124) (14,179) (4,535) (53,350) (97,232) Translation adjustments — (43) (39) (402) — (484) Closing net book amount 60,635 195,601 65,622 14,388 195,695 531,941 Year ended 31 December 2020 At 31 December 2020 Cost 64,737 317,013 174,560 39,452 267,701 863,463 Accumulated depreciation and impairment (4,102) (121,412) (108,938) (25,064) (72,006) (331,522) Net book amount 60,635 195,601 65,622 14,388 195,695 531,941 At 31 December 2021 Opening net book amount 60,635 195,601 65,622 14,388 195,695 531,941 Additions — 34,734 40,617 3,377 3,321 82,049 Transfer from investment properties — — — — — — Impairment loss (Note 14) — (76,375) (14,352) (4,453) (44,638) (139,818) Disposal — (3,675) (8,539) (4,271) (3,612) (20,097) Business combination (Note 29) — 527 557 — 2,159 3,243 Disposal of subsidiaries (Note 30) — (975) (1,635) (605) (524) (3,739) Depreciation charges (3,399) (39,933) (14,871) (3,009) (31,953) (93,165) Translation adjustments — (68) (1,179) (418) — (1,665) Closing net book amount 57,236 109,836 66,220 5,009 120,448 358,749 Year ended 31 December 2021 At 31 December 2021 Cost 64,739 302,000 132,655 27,756 208,559 735,709 Accumulated depreciation and impairment (7,503) (192,164) (66,435) (22,747) (88,111) (376,960) Net book amount 57,236 109,836 66,220 5,009 120,448 358,749 |
Lease (Tables)
Lease (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Lease | |
Schedule of amounts recognised in the balance sheet | As at As at As at 1 January 31 December 31 December 2020 2020 2021 RMB RMB RMB Lease liabilities Current 36,266 35,868 28,278 Non-current 165,615 178,983 105,754 201,881 214,851 134,032 |
Schedule of amounts recognised in the statement of comprehensive income | 2019 2020 2021 RMB RMB RMB Interest expense (included in finance costs) (Note 8) 12,767 16,693 12,844 Expense relating to short-term leases (included in cost of goods sold and administrative expenses) 8,986 4,860 15,836 |
Investment properties (Tables)
Investment properties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investment properties | |
Schedule of investment properties | 2020 2021 RMB’000 RMB’000 Cost At 1 January 27,824 — Additions — — Transfer to owner-occupied property (27,824) — At 31 December — — Accumulated depreciation At 1 January (12,451) — Charge for the year (1,043) — Transfer to owner-occupied property 13,494 — At 31 December — — Net book amount — — |
Schedule of amounts recognised in consolidated income statement for investment properties | Amounts recognised in the consolidated income statement for investment properties: 2019 2020 2021 RMB’000 RMB’000 RMB’000 Rental income 1,401 851 — |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Intangible assets | |
Schedule of intangible assets | Computer Medical Goodwill software licenses Tradenames Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Year ended 31 December 2020 Opening net book amount 115,180 9,521 — 50,716 175,417 Additions — 282 — — 282 Business combination (Note 29) 148,564 220 — 81,197 229,980 Disposal of subsidiaries (Note 30) (102,971) (233) — (58,325) (161,529) Amortisation — (2,098) — (6,032) (8,130) Impairment loss (Note) (18,809) — — (8,124) (26,933) Translation adjustments (652) — — (7) (658) Closing net book amount 141,312 7,692 — 59,425 208,429 At 31 December 2020 Cost 161,527 13,393 11,178 76,236 262,334 Impairment (20,215) — — (8,124) (28,339) Accumulated amortisation — (5,701) (11,178) (8,687) (25,566) Net book amount 141,312 7,692 — 59,425 208,429 Year ended 31 December 2021 Opening net book amount 141,312 7,692 — 59,425 208,429 Additions — 251 — — 251 Disposal — (1,350) — — (1,350) Business combination (Note 29) 14,697 19 — 2,400 17,116 Disposal of subsidiaries (Note 30) (735) (146) — (10,623) (11,504) Amortisation — (1,797) — (4,173) (5,970) Impairment loss (Note) (122,099) (3,956) — (43,679) (169,734) Translation adjustments — — — — — Closing net book amount 33,175 713 — 3,350 37,238 At 31 December 2021 Cost 54,389 12,010 9,585 4,637 80,621 Impairment (21,214) (3,954) — (719) (25,887) Accumulated amortisation — (7,343) (9,585) (568) (17,496) Net book amount 33,175 713 — 3,350 37,238 Note: Goodwill of RMB148,564,000 and RMB14,697,000 arose from acquisitions of subsidiaries in 2020 and 2021 respectively. The subsidiaries are principally engaged in the provision of non-surgical aesthetic treatments and surgical aesthetic treatments in the PRC. |
Schedule of estimated growth rates used for cash flow projections | 2020 2021 Annual compound revenue growth rate 8.1% ~ 21.0% 6.0% ~ 10.0% Annual gross profit ratio 55.2% ~ 80.3% 57.7% ~ 75.0% Discount rate 16% ~ 17.1% 16% |
Investments accounted for usi_2
Investments accounted for using the equity method (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Investments accounted for using the equity method | |
Schedule of changes in investments accounted for using the equity method | 2020 2021 RMB’000 RMB’000 At 1 January 10,256 8,330 Acquisition — 900 Disposal (883) — Impairment — (4,407) Share of loss (1,043) 81 At 31 December 8,330 4,904 |
Schedule of nature of investments in associates | Place of % of ownership Nature of the Measurement Name of entity establishment 2020 2021 relationship method Moyan (Shenzhen) Network Technology Co., Ltd. The PRC 46 % 46 % Note 1 Equity (美約(深圳)網路技術有限公司) Mendis Aesthetic PTE. Ltd. Singapore 44.4 % 44.4 % Note 2 Equity Jinan Pengai Meikang Aesthetic Medical Clinic Co., Ltd. (濟南鵬愛美康醫療美容診所有限公司) The PRC — % 30 % Note 3 Equity Shenzhen Huayanyuese Health Management Consulting Co., Ltd. (深圳市花顔悅色健康管理咨詢有限公司) The PRC — % 30 % Note 4 Equity Note 1: Moyan (Shenzhen) Network Technology Co., Ltd. (“Moyan”) is engaged in internet marketing services. Note 2: Mendis Aesthetic PTE. Ltd. (“Mendis”) is engaged in the provision of aesthetic medical services. The Company’s subsidiary Aesthetic Medical International Holdings (Singapore) Pte. Ltd (the “Seller”) signed a Share Purchase Agreement with Mr. Mendis Ajit Rohan (the “Purchaser”), where the Purchaser will purchase 22.2 % and 22.2 % shares in Mendis Aesthetic Pte. Ltd held by the Seller in two tranches. Note 3: Jinan Pengai Meikang Aesthetic Medical Clinic Co., Ltd. is engaged in the provision of aesthetic medical services. Note 4: Shenzhen Huayanyuese Health Management Consulting Co., Ltd. is engaged in investment holding and provision of management services. |
Schedule of summarised financial information for associates | Summarised balance sheet 2020 2021 RMB’000 RMB’000 Current Cash and cash equivalents 1,476 1,108 Other current assets (excluding cash and cash equivalents) 1,614 295 Total current assets 3,090 1,403 Financial liabilities (excluding trade payables) (1,077) (14) Lease liabilities — — Other current liabilities (including trade payables) (99) (425) Total current liabilities (1,176) (439) Total non-current assets 6,150 3,050 Net assets 8,064 4,014 15 Investments accounted for using the equity method (Continued) Summarised statement of comprehensive income 2020 2021 RMB’000 RMB’000 Revenue 5,317 1,951 Depreciation and amortisation (159) (69) Interest expense (297) (22) Loss before income tax (1,279) 354 Income tax expense — — Loss for the year (1,279) 354 |
Trade and other receivables, _2
Trade and other receivables, deposits and prepayments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Trade and other receivables, deposits and prepayments | |
Schedule of Trade receivables, Other Receivables, deposits and prepayments | 2020 2021 RMB’000 RMB’000 Trade receivables 14,324 7,772 Other receivables 53,566 1,550 Deposits 58,212 15,204 Prepayments 35,811 31,471 Advances to employees 2,976 41 150,565 48,266 Less: Non-current portion Prepayments and deposits (51,850) (16,574) Current portion 98,715 31,692 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Inventories | |
Inventories | 2020 2021 RMB’000 RMB’000 Pharmaceuticals 2,942 914 Medical cnaonsumables 30,394 29,652 33,336 30,566 |
Restricted cash and cash and _2
Restricted cash and cash and bank balances (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Restricted cash and cash and bank balances | |
Schedule of cash and cash equivalents | 2020 2021 RMB’000 RMB’000 Restricted cash 8,712 — 2020 2021 RMB’000 RMB’000 Cash and cash equivalents Cash at banks 38,852 35,685 Time deposit 5,279 3,000 Cash on hand 253 604 Total 44,384 39,289 |
Schedule of cash and cash equivalents for consolidated statement | 2020 2021 RMB’000 RMB’000 Cash and cash equivalents 44,384 39,289 |
Schedule of cash and cash equivalents denominated in currencies | 2020 2021 RMB’000 RMB’000 RMB 33,478 31,021 US dollars 18,199 7,125 Hong Kong dollars 567 6 Singapore dollars 852 1,137 53,096 39,289 |
Share capital (Tables)
Share capital (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share capital | |
Schedule of Share capital | Ordinary shares of USD 0.001 each Number of Nominal Nominal shares value value USD’000 RMB’000 Authorised: As at 1 January 2019 121,983,052 122 802 Increase of authorised shares 1,378,016,948 1,378 9,797 As at 31 December 2019, 1 January 2020, “31 December 2020,” 1 January 2021 and 31 December 2021 1,500,000,000 1,500 10,599 Issued and paid: As at 1 January 2019 41,798,219 42 265 Issuance of shares held as treasury shares (Note 32) 5,940,452 6 41 Issuance of shares upon initial public offering (Note i) 7,500,000 8 53 Preferred shares converted into ordinary share upon initial public offering (Note ii) 15,600,000 16 110 As at 31 December 2019, 1 January 2020, 31 December 2020, 1 January 2021 and 31 December 2021 70,838,671 72 469 On October 25, 2019, the Company was listed on NASDAQ Global market in the United States and issued 2,500,000 American Depositary Shares (representing 7,500,000 ordinary shares of the Company). Note ii: On October 25, 2019, upon completion of the Company’s initial public offering, 15,600,000 of convertible redeemable preferred shares were converted into 15,600,000 ordinary shares (Note 25). Note iii: On 13 October 2020, the Company announced that its board of directors had approved a share repurchase program, under which the Company was authorized to repurchase in the open market up to US$6.0 million worth of its American depositary shares (“ADSs”) from time to time until 12 October 2021, depending on general market conditions, trading price and other factors, as well as subject to the applicable laws and the Company’s securities trading policy. During the applicable period, 135,000 ordinary shares were repurchased as treasury shares with a total consideration of approximately RMB2 million. |
Other reserves (Tables)
Other reserves (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other reserves | |
Schedule of other reserves | Share ‑ based Capital Merger Statutory compensation Other reserve reserve reserve reserve reserve Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Note (a) Note (b) Note (c) Note (d) Note (e) At 1 January 2019 61,303 (10,000) 37,962 67,960 (61,980) 95,245 Translation of foreign operations — — — — 672 672 Transfer to statutory reserve — — 4,621 — — 4,621 Further acquisition of interests in a subsidiary (Note 31) — — — — (5,741) (5,741) Partial disposal of interests in a subsidiary without loss of control (Note 31) — — — — 493 493 Share-based payment reserve — — — 47,788 — 47,788 Issuance of shares upon initial public offering 211,906 — — — — 211,906 Transaction costs related to issuance of shares upon initial public offering (45,516) — — — — (45,516) Preferred shares converted into ordinary share upon initial public offering 339,346 — — — — 339,346 Exchangeable note converted into ordinary share upon initial public offering 140,471 — — — — 140,471 At 31 December 2019 and 1 January 2020 707,510 (10,000) 42,583 115,748 (66,556) 789,285 At 31 December 2019 and 1 January 2020 707,510 (10,000) 42,583 115,748 (66,556) 789,285 Translation of foreign operations — — — — (731) (731) Transfer to statutory reserve — — 194 — — 194 Further acquisition of interests in a subsidiary (Note 31) — — — — 92 92 Partial disposal of interests in a subsidiary without loss of control (Note 31) — — — — 2,548 2,548 Share-based payment reserve — — — 78,967 — 78,967 Share re-purchase — — — — — — At 31 December 2020 707,510 (10,000) 42,777 194,715 (64,647) 870,355 At 31 December 2020 and 1 January 2021 707,510 (10,000) 42,777 194,715 (64,647) 870,355 Translation of foreign operations — — — — 574 574 Further acquisition of interests in a subsidiary (Note 31) 380 — — — (935) (555) Partial disposal of interests in a subsidiary without loss of control (Note 31) — — — — 3,575 3,575 Share-based payment reserve — — — 35,462 — 35,462 At 31 December 2021 707,890 (10,000) 42,777 230,177 (61,433) 909,411 |
Deferred income tax (Tables)
Deferred income tax (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Deferred income tax | |
Schedule of gross tax assets and liabilities | 2020 2021 RMB’000 RMB’000 The deferred tax assets comprise temporary differences attributable to: - Tax losses 27,988 43,323 - Others 4,658 2,442 32,646 45,765 The deferred tax liabilities comprise temporary differences attributable to: - Medical licenses and tradenames (14,425) (285) - Others (226) — (14,651) (285) |
Schedule of deferred tax assets and liabilities by recovery period | 2020 2021 RMB’000 RMB’000 Deferred income tax assets: - Deferred income tax assets to be recovered after more than 12 months 31,363 45,765 - Deferred income tax assets to be recovered within 12 months 9 — 31,372 45,765 Deferred income tax liabilities: - Deferred income tax liabilities to be settled after more than 12 months (12,107) (285) - Deferred income tax liabilities to be settled within 12 months (1,270) — (13,377) (285) Deferred income tax assets – net 17,995 45,480 |
Summary of gross movement on deferred income tax accounts | The gross movement on deferred income tax accounts is as follows: 2020 2021 RMB’000 RMB’000 At 1 January 7,071 17,995 Acquisition of subsidiaries (Note 29) (1,385) — Disposal of subsidiaries (Note 30) (750) 7,479 Credited to consolidated statement of comprehensive income 13,073 20,006 Translation adjustment (14) — At 31 December 17,995 45,480 Deferred income tax assets Tax losses Others Total RMB’000 RMB’000 RMB’000 At 1 January 2020 17,478 2,422 19,900 Acquisition of a subsidiary (Note 29) 13,422 5,492 18,914 Disposal of a subsidiary (Note 30) (10,017) (5,314) (15,331) Credited to consolidated statement of comprehensive income 7,135 2,058 9,193 Translation adjustment (30) — (30) At 31 December 2020 and 1 January 2021 27,988 4,658 32,646 Acquisition of subsidiaries (Note 29) — — — Disposal of subsidiaries (Note 30) (6,144) (743) (6,887) Credited to consolidated statement of comprehensive income 21,479 (1,473) 20,006 Translation adjustment — — — At 31 December 2021 43,323 2,442 45,765 21 Deferred income tax (Continued) Deferred income tax liabilities Medical licenses and tradenames Others Total RMB’000 RMB’000 RMB’000 At 1 January 2020 12,248 581 12,829 Acquisition of a subsidiary (Note 29) 20,297 — 20,297 Disposal of subsidiaries (Note 30) (14,581) — (14,581) (Credited)/charge to consolidated statement of comprehensive income (3,539) (341) (3,880) Translation adjustment — (14) (14) At 31 December 2020 and 1 January 2021 14,425 226 14,651 Acquisition of subsidiaries (Note 29) — — — Disposal of subsidiaries (Note 30) (14,140) (226) (14,366) Credited to consolidated statement of comprehensive income — — — Translation adjustment — — — At 31 December 2021 285 — 285 |
Summary of unrecognized tax losses by expiry period | 2020 2021 RMB’000 RMB’000 Tax loss expiring within 5 years 71,862 91,221 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Borrowings | |
Schedule of Borrowings | 2020 2021 RMB’000 RMB’000 Non ‑ current Bank borrowings - secured 23,770 23,470 - non-secured 10,060 — Other borrowings - secured 42,101 54,137 75,931 77,607 Current Bank borrowings - secured 38,491 82,680 - non-secured 39,575 — Other borrowings - secured 57,748 73,528 135,814 156,208 211,745 233,815 |
Trade and accruals, other pay_2
Trade and accruals, other payables and provisions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Trade and accruals, other payables and provisions | |
Schedule of Trade and accruals, other payables and provisions | 2020 2021 RMB’000 RMB’000 Trade payables 33,654 31,256 Accrued employee benefits 21,327 26,458 Accrued operating expenses 7,648 5,516 Accrued professional service fees 12,050 9,857 Deposits received 1,122 826 Duty and tax payable other than corporate income tax 8,242 2,172 Other payables to suppliers of plant and equipment 6,909 779 Others 11,485 27,240 102,437 104,104 |
Contract liabilities (Tables)
Contract liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Contract liabilities | |
Schedule of contract liabilities | 2020 2021 RMB’000 RMB’000 Advance receipt for treatment packages 8,639 236,476 |
Convertible redeemable prefer_2
Convertible redeemable preferred shares (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Convertible redeemable preferred shares | |
Schedule of movement of the equity | RMB’000 For the year ended 31 December 2018 At 1 January 2018 249,864 Change in fair value 226,248 At 31 December 2018 476,112 Fair value change for the year included in statement of comprehensive income for liabilities held at the year end 226,248 For the year ended 31 December 2019 At 1 January 2019 476,112 Change in fair value (136,656) Converted into ordinary share upon initial public offering (339,456) At 31 December 2019 — Fair value change for the year included in statement of comprehensive income for liabilities held at the year end (136,656) |
Convertible note (Tables)
Convertible note (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Convertible note 2016 | |
Disclosure of detailed information about borrowings [line items] | |
Summary of movement of the debt | RMB’000 For the year ended 31 December 2018 At 1 January 2018 61,446 Change in fair value 9,152 At 31 December 2018 70,598 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 9,152 For the year ended 31 December 2019 At 1 January 2019 70,598 Change in fair value 5,193 Repayment during the year (75,791) At 31 December 2019 — Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 5,193 |
Convertible note 2020 | |
Disclosure of detailed information about borrowings [line items] | |
Summary of movement of the debt | RMB’000 For the year ended 31 December 2020 At 1 January 2020 — Convertible note issued 33,474 Unrealised exchange difference (883) Change in fair value 1,599 At 31 December 2020 34,190 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 1,599 For the year ended 31 December 2021 At 1 January 2021 — Opening value 34,190 Unrealised exchange difference (371) Change in fair value 4,240 At 31 December 2021 38,059 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 4,240 |
Exchangeable note liabilities (
Exchangeable note liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Exchangeable note liabilities | |
Disclosure of detailed information about borrowings [line items] | |
Summary of movement of the exchangeable note liabilities | RMB’000 For the year ended 31 December 2018 At 1 January 2018 128,820 Change in fair value 56,925 At 31 December 2018 185,745 Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end 56,925 For the year ended 31 December 2019 At 1 January 2019 185,745 Change in fair value (45,274) Converted into ordinary share upon initial public offering (140,471) At 31 December 2019 — Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end (45,274) |
Cash generated from operations
Cash generated from operations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Cash generated from operations | |
Schedule of cash generated from operations | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Profit/(loss) before income tax 152,364 (259,492) (681,314) Adjustments for: Finance income (388) (1,185) (113) Finance costs 24,293 29,189 27,230 Amortisation of intangible assets (Note 14) 3,336 8,130 5,970 Depreciation of property, plant and equipment (Note 11) 78,163 97,232 93,165 Depreciation of investment properties (Note 13) 2,335 1,043 — Loss on disposal of property, plant and equipment 1,715 703 14,349 Loss on disposal of intangible assets — — 1,350 Share of losses/(profits) investments accounted for using the equity method 1,738 1,043 (81) Fair value gain of convertible redeemable preferred shares (136,656) — — Fair value loss of convertible note 5,193 1,599 4,240 Fair value gain of exchangeable note liabilities (45,274) — — Fair value gain of derivative financial instrument (301) — — Transaction cost related to issuance of convertible note — 677 — Reversal of contingent consideration — — (1,523) Share-based payment 47,788 78,967 35,463 Written-off of assets/liabilities held for sale 2,070 — — Impairment of non-current assets 1,405 32,969 313,959 Unrealised exchange difference — 515 (373) (Gain)/loss on disposal of associates (14,251) 928 — (Gain)/loss on disposal of subsidiaries (Note 30) (3,040) 1,531 21,558 120,490 (6,151) (166,120) Changes in working capital: - Inventories (3,037) (8,971) (800) - Trade receivables 1,376 (7,781) 3,849 - Other receivables, deposits and prepayments (11,742) 10,470 34,108 - Balances with related parties — — — - Trade payables (1,567) 15,969 4,543 - Accruals, other payables and provisions (4,521) 15,191 (52,018) - Contract liabilities (304) (13,145) 228,153 Cash flow from operating activities 100,695 5,582 51,715 |
Schedule of net debt and the movements in net debt | Liabilities from financing activities Lease Lease Borrowing Borrowing liabilities liabilities due within due after due within due after 1 year 1 year 1 year 1 year Total Net debt RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As at 1 January 2020 (127,470) (12,917) (36,266) (165,615) (342,268) Cash flows (8,344) (63,014) 398 (13,368) (84,328) As at 31 December 2020 (135,814) (75,931) (35,868) (178,983) (426,596) As at 1 January 2021 (135,814) (75,931) (35,868) (178,983) (426,596) Cash flows (20,394) (1,676) 7,590 73,229 58,749 As at 31 December 2021 (156,208) (77,607) (28,278) (105,754) (367,847) |
Business combination (Tables)
Business combination (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Guangzhou Pengai | |
Business combination | |
Summary of assets and liabilities recognised as a result of the acquisition | The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Other receivables 100 Inventories 400 Property, plant and equipment 500 Net identifiable assets acquired 1,000 Add: goodwill (Note 14) 6,300 Net assets acquired 7,300 |
Summary of analysis of net outflow of cash and cash equivalents in respect of the acquisition | An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (7,300) Cash and cash equivalents — Net outflow of cash and cash equivalents included in cash flows from investing activities (7,300) |
Summary of pro forma revenue and profit after tax | The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2021: 2021 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 3,797 Loss after tax (333) |
Shanghai Jiahong | |
Business combination | |
Schedule of consideration, assets and liabilities and net outflow in respect of the acquisition | The following table summarises the consideration paid for Shanghai Jiahong. RMB’000 Purchase consideration Cash paid in 2020 4,940 Cash received in 2021 (3,940) Consideration payable as at 31 December 2021 6,200 Total purchase consideration 7,200 |
Summary of assets and liabilities recognised as a result of the acquisition | The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 1,121 Intangible assets 2,120 Trade receivables and other receivables 602 Inventories 123 Properties, plant and equipment 4,014 Trade payables and other payables (2,392) Lease liabilities (4,116) Deferred income tax liabilities (530) Non-controlling interest (188) Net identifiable assets acquired 754 Add: goodwill (Note 14) 6,446 Net assets acquired 7,200 |
Summary of analysis of net outflow of cash and cash equivalents in respect of the acquisition | An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (1,500) Cash and cash equivalents 1,121 Net outflow of cash and cash equivalents included in cash flows from investing activities (379) |
Summary of pro forma revenue and profit after tax | The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 901,593 Loss after tax (247,616) |
Xian New Pengai Yueji Medical Aesthetic Clinic Co Ltd Member | |
Business combination | |
Schedule of consideration, assets and liabilities and net outflow in respect of the acquisition | The following table summarises the consideration paid for Xian Pengai. RMB’000 Purchase consideration Fair value of the previously held equity interest in Shenzhen Yueji at the acquisition date 10,500 Cash consideration 2,252 Settlement of pre-existing balance with Shenzhen Yueji 456 Total purchase consideration 13,208 |
Summary of assets and liabilities recognised as a result of the acquisition | The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 245 Intangible assets 4,240 Trade receivables and other receivables 401 Inventories 148 Properties, plant and equipment 3,881 Trade payables and other payables (180) Lease liabilities (3,585) Current income tax liabilities (99) Deferred income tax liabilities (412) Non-controlling interest (1,392) Net identifiable assets acquired 3,247 Add: goodwill (Note 14) 9,961 Net assets acquired 13,208 |
Summary of analysis of net outflow of cash and cash equivalents in respect of the acquisition | An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (5,820) Cash and cash equivalents 245 Net outflow of cash and cash equivalents included in cash flows from investing activities (5,575) |
Summary of pro forma revenue and profit after tax | The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 903,306 Loss after tax (246,715) |
Jiangsu Liangyan Medical Aesthetic Clinic Co Ltd Member | |
Business combination | |
Schedule of consideration, assets and liabilities and net outflow in respect of the acquisition | The following table summarises the consideration paid for Jiangsu Liangyan. RMB’000 Purchase consideration Cash paid 25,000 Contingent consideration 8,181 Settlement of pre-existing balance with Jiangsu Liangyan 5,966 Total purchase consideration 39,147 |
Summary of assets and liabilities recognised as a result of the acquisition | The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 1,198 Intangible assets 14,000 Trade receivables and other receivables 1,700 Inventories 452 Properties, plant and equipment 17,823 Trade payables and other payables (2,717) Borrowings (810) Lease liabilities (13,928) Deferred income tax liabilities (3,337) Non-controlling interest (4,420) Net identifiable assets acquired 9,961 Add: goodwill (Note 14) 29,186 Net assets acquired 39,147 |
Summary of analysis of net outflow of cash and cash equivalents in respect of the acquisition | An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (25,000) Cash and cash equivalents 1,198 Net outflow of cash and cash equivalents included in cash flows from investing activities (23,802) |
Summary of pro forma revenue and profit after tax | The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 924,948 Loss after tax (249,660) |
Guangdong Hanfei | |
Business combination | |
Schedule of consideration, assets and liabilities and net outflow in respect of the acquisition | The following table summarises the consideration paid for Guangdong Hanfei. RMB’000 Purchase consideration Cash paid 61,000 Cash consideration payable 41,000 Contingent consideration 41,021 Derivative financial assets (22,611) Settlement of pre-existing balance with Guangdong Hanfei 5,016 Total purchase consideration 125,426 |
Summary of assets and liabilities recognised as a result of the acquisition | The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 1,805 Intangible assets 61,057 Trade receivables and other receivables 13,020 Inventories 7,061 Properties, plant and equipment 173,577 Deferred income tax assets 2,894 Trade payables and other payables (34,700) Borrowings (5,545) Lease liabilities (135,814) Contract liabilities (23,732) Current income tax liabilities (10,499) Non-controlling interest (26,669) Net identifiable assets acquired 22,455 Add: goodwill (Note 14) 102,971 Net assets acquired 125,426 |
Summary of analysis of net outflow of cash and cash equivalents in respect of the acquisition | An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration (42,000) Cash and cash equivalents 1,805 Net outflow of cash and cash equivalents included in cash flows from investing activities (40,195) |
Summary of pro forma revenue and profit after tax | The following table set out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2020: 2020 RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 1,069,869 Loss after tax (245,715) |
Beijing Aomei | |
Business combination | |
Summary of assets and liabilities recognised as a result of the acquisition | The assets and liabilities recognised as a result of the acquisition are as follows: RMB’000 Cash and cash equivalents 27 Intangible assets 2,419 Trade receivables and other receivables 1,113 Inventories 57 Property, plant and equipment 2,743 Trade payables and other payables (122) Lease liabilities (2,362) Deferred income tax liabilities (600) Current income tax liabilities (9) Non-controlling interest (163) Net identifiable assets acquired 3,103 Add: goodwill (Note 14) 8,397 Net assets acquired 11,500 |
Summary of analysis of net outflow of cash and cash equivalents in respect of the acquisition | An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: RMB’000 Cash consideration — Cash and cash equivalents 27 Net outflow of cash and cash equivalents included in cash flows from investing activities 27 |
Disposals of subsidiaries (Tabl
Disposals of subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Guangdong Hanfei | |
Disposals of subsidiaries | |
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | 2020 RMB’000 Cash received (Note (i)) 20,000 Cash and cash equivalents disposed of (828) Net cash inflow in respect of disposal of Guangdong Hanfei 19,172 Note: (i) The cash consideration in relation to the disposal of Guangdong Hanfei amounted to RMB61,000,000 of which RMB20,000,000 was received in December 2020 and the remaining balance of RMB41,000,000 was fully settled subsequent to 31 December 2020. |
Guangdong Hanfei One | |
Disposals of subsidiaries | |
Schedule of net assets of subsidiary disposed of and their financial impacts | RMB’000 Net assets disposed of: Property, plant and equipment 2,949 Intangible assets 10,903 Goodwill — Deferred tax assets — Inventories 3,462 Trade and other receivables 9,911 Cash and cash equivalents 1,329 Income tax payables (18,410) Trade payables and other payables (22,047) Borrowings — Contract liabilities (304) Lease liabilities — Non-controlling interests (37,565) Net assets of subsidiary (49,772) Loss on disposal of subsidiary 37,688 Consideration (12,084) Satisfied by: Cash consideration — Settlement of pre-existing balances (12,084) (12,084) |
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | 2021 RMB’000 Cash received — Cash and cash equivalents disposed of (1,329) Net cash inflow in respect of disposal (1,329) |
Disposals of subsidiaries | Yinchuanshi Pengai | |
Disposals of subsidiaries | |
Schedule of net assets of subsidiary disposed of and their financial impacts | RMB’000 Net assets disposed of: Property, plant and equipment 3,910 Intangible assets 17 Deferred tax assets 175 Inventories 66 Trade and other receivables 97 Cash and cash equivalents 1 Income tax receivables 75 Trade payables and other payables (263) Contract liabilities (12) Lease liabilities (1,896) Non-controlling interests (618) Net assets of subsidiary 1,552 Loss on disposal of subsidiary (729) Cash consideration 823 |
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the Yinchuanshi Pengai is as follows: 2020 RMB’000 Cash received 823 Cash and cash equivalents disposed of (1) Net cash inflow in respect of disposal of Yinchuanshi Pengai 822 |
Disposals of subsidiaries | Guangdong Hanfei | |
Disposals of subsidiaries | |
Schedule of net assets of subsidiary disposed of and their financial impacts | RMB’000 Net assets disposed of: Property, plant and equipment 165,711 Intangible assets 58,541 Goodwill 102,971 Deferred tax assets 575 Inventories 9,472 Trade and other receivables 57,249 Cash and cash equivalents 828 Income tax payables (11,464) Trade payables and other payables (90,143) Borrowings (4,705) Contract liabilities (7,477) Lease liabilities (132,385) Non-controlling interests (27,961) Net assets of subsidiary 121,212 Loss on disposal of subsidiary (55,387) Consideration 65,825 Satisfied by: Cash consideration (Note (i)) 61,000 Settlement of pre-existing balances (Note (ii)) 4,825 65,825 |
Transactions with non-control_2
Transactions with non-controlling interests (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Schedule of transactions with non interesting interests and their impacts | During the year ended 31 December 2019, 2020 and 2021, the Group completed the following transactions with non-interesting interests and the impact are as below: Debit to Total net (Debit)/credit non-controlling (debit)/credit to to other reserve interests Equity RMB’000 RMB’000 RMB’000 For the year ended 31 December 2019 Acquisition of additional interests in a subsidiary: - Guangzhou Pengai (Note a) (1,946) (1,062) (3,008) - Hangzhou Pengai (Note b) (2,389) (2,517) (4,906) - Chongqing Pengai (Note c) (867) (383) (1,250) - Changsha Pengai (Note d) (539) (511) (1,050) Disposal of interests in a subsidiary without loss of control: - Guangzhou Pengai (Note e) 642 298 940 - Nanchang Pengai Aesthetic Medical Clinic Co., Ltd. (“ Nanchang Pengai”) (Note f) (161) 1,111 950 - Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd. (“Yantai Pengai Jiayan”) (Note g) 12 488 500 (5,248) (2,576) (7,824) Debit to Total net (Debit)/credit non-controlling (debit)/credit to to other reserve interests Equity RMB’000 RMB’000 RMB’000 For the year ended 31 December 2020 Acquisition of additional interests in a subsidiary: - Shanghai Pengai (Note h) 92 (217) (125) Disposal of interests in a subsidiary without loss of control: - Shanghai Jiahong (Note i) (65) 65 — - Guangzhou Pengai (Note j) 2,613 147 2,760 2,640 (5) 2,635 For the year ended 31 December 2021 Acquisition of additional interests in a subsidiary: - Huizhou Pengai (Note k) (220) (140) (360) - Changsha Pengai (Note l) (715) 400 (315) Disposal of interests in a subsidiary without loss of control: - Changsha Pengai (Note m) 3,575 (2,000) 1,575 2,640 (1,740) 900 |
Huizhou Pengai | |
Schedule of acquisition of interest | 2021 RMB’000 Carrying amount of non-controlling interests acquired 140 Consideration paid to non-controlling interests (360) Excess of consideration paid to non-controlling interest recognised within equity (220) |
Changsha Pengai | |
Schedule of disposal of non-controlling interests without loss of control | 2021 RMB’000 Carrying amount of non-controlling interests disposed of 2,000 Less: consideration received from non-controlling interest 1,575 Gain on disposal within equity 3,575 |
Schedule of acquisition of interest | Acquisition of interest in Changsha Pengai 2021 RMB’000 Carrying amount of non-controlling interests acquired (400) Consideration paid to non-controlling interests (315) Excess of consideration paid to non-controlling interest recognised within equity (715) |
Chongqing Pengai | |
Schedule of acquisition of interest | (c) Acquisition of interest in Chongqing Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 867 Consideration paid to non-controlling interests (1,250) Excess of consideration paid to non-controlling interest recognised within equity (383) |
Guangzhou Pengai | |
Schedule of disposal of non-controlling interests without loss of control | (e) Disposal of interest in Guangzhou Pengai without loss of control 2019 RMB’000 Carrying amount of non-controlling interests disposed of (642) Less: consideration received from non-controlling interest 940 Gain on disposal within equity 298 (j) Disposal of interest in Guangzhou Pengai without loss of control 2020 RMB’000 Carrying amount of non-controlling interests disposed of (147) Less: consideration received from non-controlling interest 2,760 Gain on disposal within equity 2,613 |
Schedule of acquisition of interest | (a) Acquisition of interest in Guangzhou Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 1,946 Consideration paid to non-controlling interests (3,008) Excess of consideration paid to non-controlling interest recognised within equity (1,062) |
Hangzhou Pengai | |
Schedule of acquisition of interest | (b) Acquisition of interest in Hangzhou Pengai 2019 RMB’000 Carrying amount of non-controlling interests acquired 2,389 Consideration paid to non-controlling interests (4,906) Excess of consideration paid to non-controlling interest recognised within equity (2,517) |
Nanchang Pengai | |
Schedule of disposal of non-controlling interests without loss of control | (f) Disposal of interest in Nanchang Pengai without loss of control 2019 RMB’000 Carrying amount of non-controlling interests disposed of 161 Less: consideration received from non-controlling interest 950 Gain on disposal within equity 1,111 |
Yantai Pengai Jiayan | |
Schedule of disposal of non-controlling interests without loss of control | (g) Disposal of interest in Yantai Pengai Jiayan without loss of control 2019 RMB’000 Carrying amount of non-controlling interests disposed of (12) Less: consideration received from non-controlling interest 500 Gain on disposal within equity 488 |
Shanghai Pengai | |
Schedule of acquisition of interest | (h) Acquisition of interest in Shanghai Pengai 2020 RMB’000 Carrying amount of non-controlling interests acquired (92) Consideration paid to non-controlling interests (125) Excess of consideration paid to non-controlling interest recognised within equity (217) |
Shanghai Jiahong | |
Schedule of disposal of non-controlling interests without loss of control | (i) Disposal of interest in Shanghai Jiahong without loss of control 2020 RMB’000 Carrying amount of non-controlling interests disposed of (65) Less: consideration received from non-controlling interest — Gain on disposal within equity (65) |
Share based compensation (Table
Share based compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share based compensation | |
Schedule of the number and weighted average exercise prices of options | Weighted- Weighted- Number of average average grant options exercise price date fair value RMB RMB Outstanding as of 1 January 2020 5,940,452 0.007 28.01 Vested during the year (note) (3,447,048) Outstanding as of 31 December 2020 2,493,404 0.007 28.01 Vested during the year (note) (1,222,959) Outstanding as of 31 December 2021 1,270,445 0.007 28.01 |
Schedule of assumptions used to determine fair value of share options | Risk free interest rate 2.2 % Expected dividend yield 0 Expected volatility 57.87 % Exercise multiples 2.2 Contractual life 10 |
Schedule of share options outstanding and weighted average remaining contractual life | Share options as of Grant date Expiry date Exercise price 31 December 2021 1 June 2019 31 May 2029 US$0.001 1,270,445 Weighted average remaining contractual life of options outstanding at end of period: 7.42 |
Summarised financial informat_2
Summarised financial information of subsidiaries with material non-controlling interests (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Summarised financial information of subsidiaries with material non-controlling interests | |
Summary of financial information of subsidiaries with material non-controlling interests | Huizhou Pengai Shanghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 17,897 17,386 17,024 17,168 13,641 13,772 - Liabilities (4,432) (3,655) (15,541) (14,387) (15,626) (46,764) Total current net assets/(liabilities) 13,465 13,731 1,483 2,781 (1,985) (32,992) Non‑current - Assets 2,429 2,046 3,868 3,656 36,302 40,871 - Liabilities — — (733) — (31,607) (29,040) Total non‑current net assets 2,429 2,046 3,135 3,656 4,695 11,831 Net assets/(liabilities) 15,894 15,777 4,618 6,437 2,710 (21,161) Chengdu Yueji Xiuqi Pengai Haikou Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 4,183 5,926 n/a 5,060 9,140 10,252 2,226 3,033 4,546 - Liabilities (6,267) (14,033) n/a (9,250) (11,464) (33,393) (12,738) (14,405) (23,484) Total current net assets/(liabilities) (2,084) (8,107) n/a (4,190) (2,324) (23,141) (10,512) (11,372) (18,938) Non‑current - Assets 11,803 10,303 n/a 27,838 22,437 26,429 25,174 22,783 18,964 - Liabilities (5,689) (4,929) n/a (2,262) — — (6,458) (6,144) (5,808) Total non‑current net assets 6,114 5,374 n/a 25,576 22,437 26,429 18,716 16,639 13,156 Net assets/(liabilities) 4,030 (2,733) n/a 21,386 20,113 3,288 8,204 5,267 (5,782) 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised balance sheets (Continued) Shenzhen Yueji Shenzhen Yuexin Nanchang Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 17,627 16,593 n/a 2,125 2,352 n/a 4,426 3,985 n/a - Liabilities (20,648) (19,481) n/a (21,540) (22,614) n/a (1,305) (1,133) n/a Total current net assets/(liabilities) (3,021) (2,888) n/a (19,415) (20,262) n/a 3,121 2,852 n/a Non-current - Assets 9,153 4,335 n/a 33,742 29,033 n/a 893 780 n/a - Liabilities — — n/a (16,256) (14,019) n/a — — n/a Total non-current net assets 9,153 4,335 n/a 17,486 15,014 n/a 893 780 n/a Net assets/(liabilities) 6,132 1,447 n/a (1,929) (5,248) n/a 4,014 3,632 n/a Yantai Pengai Jiayan Ninghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 13,614 14,806 3,753 1,696 1,055 n/a - Liabilities (23,564) (24,410) (31,845) (1,060) (1,397) n/a Total current net (liabilities)/assets (9,950) (9,604) (28,092) 636 (342) n/a Non-current - Assets 38,441 35,387 33,234 3,856 3,342 n/a - Liabilities (18,299) (17,748) (17,086) (424) (88) n/a Total non-current net assets 20,142 17,639 16,148 3,432 3,254 n/a Net assets 10,192 8,035 (11,944) 4,068 2,912 n/a Summarised statements of comprehensive income Huizhou Pengai Shanghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 35,184 26,852 21,561 33,834 29,839 21,674 Profit/(loss) before income tax 5,170 2,743 (8,222) 689 (3,884) (25,217) Income tax (expense)/credit (1,293) (685) 297 (172) 157 1,347 Profit/(loss) and total comprehensive income/(loss) for the year 3,878 2,058 (7,925) 517 (3,727) (23,870) Total comprehensive income/(loss) allocated to non‑controlling interests 1,338 710 (2,734) 77 (746) (4,737) Dividend paid to non‑controlling interests 1,478 750 1,116 1,463 — — 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of comprehensive income (Continued) Chengdu Yueji Xiuqi Pengai Haikou Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 23,766 8,221 6,290 33,057 28,530 28,251 25,458 20,184 24,134 Profit/(loss) before income tax (4,722) (6,674) (6,280) 8,678 (1,135) (19,411) 2,001 (1,696) (10,966) Income tax (expense)/credit — — (21) 803 (139) 2,586 (500) 192 (84) Profit/(loss) and total comprehensive income/(loss) for the year (4,722) (6,764) (6,301) 9,481 (1,274) (16,825) 1,501 (1,504) (11,050) Total comprehensive income/(loss) allocated to non‑controlling interests (1,515) (2,029) (1,890) 1,043 (140) (1,851) 195 (196) (1,436) Dividend paid to non‑controlling interests — — — — — — 407 186 — Shenzhen Yueji Shenzhen Yuexin Nanchang Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 20,809 13,754 45 34,104 33,157 32,430 2,198 — — Profit/(loss) before income tax 4,897 (4,656) (406) 2,240 (3,710) (2,937) (2,449) (382) (300) Income tax (expense)/credit (1,224) (29) (21) (560) 391 734 — — — Profit/(loss) and total comprehensive income/(loss) for the year 3,673 (4,685) (427) 1,680 (3,319) (2,203) (2,449) (382) (300) Total comprehensive income/(loss) allocated to non-controlling interests 1,469 (1,874) (171) 672 (1,328) (881) (898) (187) (147) Dividend paid to non-controlling interests — — — — — — — — — 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of comprehensive income (Continued) Yantai Pengai Jiayan Ninghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 32,668 25,958 15,295 5,211 4,841 46 Profit/(loss) before income tax 1,036 (2,465) (21,773) 1,182 (1,317) (604) Income tax (expense)/credit (259) 307 1,795 (113) 162 (39) Profit/(loss) and total comprehensive income/(loss) for the year 777 (2,158) (19,978) 1,069 (1,155) (643) Total comprehensive income/(loss) allocated to non-controlling interests 85 (237) (2,198) 524 (566) (315) Dividend paid to non-controlling interests — — — — — — Summarised statements of cash flows Huizhou Pengai Shanghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from operations 5,488 3,192 1,217 11,170 (2,240) 2,587 Income tax paid (715) (1,070) (211) (436) (444) (27) Net cash generated from/(used in) operating activities 4,773 2,122 1,006 10,734 (2,684) 2,560 Net cash used in investing activities (708) (78) (589) (833) (5,407) (2,437) Net cash used in financing activities (4,285) (2,175) (18) — (2,082) — Net (decrease)/increase in cash and cash equivalents (220) (131) 399 9,901 (10,173) 123 Cash and cash equivalents at beginning of the year 647 427 296 733 10,634 461 Cash and cash equivalents at end of the year 427 296 695 10,634 461 584 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of cash flows (Continued) Chengdu Yueji Xiuqi Pengai Haikou Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from/(used in) operations (1,279) (3,782) 490 4,417 7,208 (1,419) 14,810 2,462 2,162 Income tax paid (347) — (365) — — — (492) (14) (8) Net cash generated from/(used in) operating activities (1,626) (3,782) 125 4,417 7,208 (1,419) 14,318 2,448 2,154 Net cash (used in)/generated from investing activities (245) 4,358 2 (4,756) (4,305) (767) (14,437) (1,673) (1,300) Net cash used in financing activities — (1,044) — — (3,081) 2,880 (423) (629) (100) Net increase/ (decrease) in cash and cash equivalents (1,871) (468) 127 (339) (178) 694 (542) 146 754 Cash and cash equivalents at beginning of the year 2,367 496 28 526 187 9 618 76 222 Cash and cash equivalents at end of the year 496 28 155 187 9 703 76 222 976 Shenzhen Yueji Shenzhen Yuexin Nanchang Pengai 2019 2020 2021 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from/(used in) operations 3,815 1,340 140 3,545 4,187 191 (221) (351) (1) Income tax paid (1) (45) — — — — 134 — — Net cash (used in)/generated from operating activities (3,814) 1,295 140 3,545 4,187 191 (87) (351) (1) Net cash (used in)/generated from investing activities (3,776) 5,322 — (4,266) (1,096) (64) (1) 330 — Net cash generated from/(used in) financing activities 600 (7,423) — — (3,194) — — — — Net increase/ (decrease) in cash and cash equivalents 638 (806) 140 (721) (103) 127 (88) (21) (1) Cash and cash equivalents at beginning of the year 187 825 19 867 147 44 110 22 1 Cash and cash equivalents at end of the year 825 19 159 147 44 171 22 1 — 33 Summarised financial information of subsidiaries with material non-controlling interests (Continued) Summarised statements of cash flows (Continued) Yantai Pengai Jiayan Ninghai Pengai 2019 2020 2021 2019 2020 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from/(used in) operations 4,278 2,544 47 1,352 (327) (53) Income tax paid (35) — — — (74) (23) Net cash generated from/(used in) operating activities 4,243 2,544 47 1,352 (401) (76) Net cash used in investing activities (3,161) (1,848) — (3,479) (46) — Net cash (used in)/generated from financing activities — (1,646) — 3,000 (343) — Net increase/ (decrease) in cash and cash equivalents 1,082 (950) 47 873 (790) (76) Cash and cash equivalents at beginning of the year 382 1,464 514 — 873 83 Cash and cash equivalents at end of the year 1,464 514 561 873 83 7 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments | |
Schedule of capital commitments | 2020 2021 RMB’000 RMB’000 Contracted but not provided for - Property, plant and equipment 8 — - Investments — — 8 — |
Schedule of future aggregate minimum lease payments under non cancellable operating leases | The future aggregate minimum lease payments under non-cancellable operating leases as follows: 2020 2021 RMB’000 RMB’000 Not later than 1 year 20 10 |
Related party transactions (Tab
Related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Related party transactions | |
Summary of transactions with related parties | (a) Transactions with related parties 2020 2021 RMB’000 RMB’000 Depreciation and interest expense - A related company 2,182 2,040 Medical Equipment rental -A related company — 3,218 |
Summary of balances with related parties | 2020 2021 RMB’000 RMB’000 Current (Note i) Amounts due from related parties Amounts due from related companies 94 — Amounts due from non‑controlling interests 6,599 4,391 6,693 4,391 Amounts due to related parties Amounts due to related companies 620 473 Amounts due to non‑controlling interests 604 — 1,224 473 |
Summary of key management compensation | 2020 2021 RMB’000 RMB’000 Basic salaries and bonus 13,428 17,740 Share based compensation 54,662 24,547 Pension costs - defined contribution plans 214 376 68,304 42,663 |
Summary of personal guarantees and corporate guarantee from related company | 2020 2021 RMB’000 RMB’000 Bank borrowings of the Group secured by personal guarantees from Dr. Zhou Pengwu, Dr. Zhou Yitao and Ms. Ding Wenting and corporate guarantee from a related company 172,131 94,270 Bank borrowings of the Group secured by personal properties from Dr. Zhou Pengwu and Ms. Ding Wenting 25,725 9,000 |
Particulars of the subsidiari_2
Particulars of the subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Particulars of the subsidiaries | |
Schedule of list of the principal subsidiaries | The following is a list of the principal subsidiaries at 31 December 2020 and 2021: Place of incorporation/ Registered capital/ Interest held Name establishment issued share capital Principal activities 2020 2021 Directly hold: Dragon Jade Holdings Limited British Virgin Islands (The “BVI”) Registered capital of 1 share without par value Investment holding and provision of management services 100 % 100 % ( 龍翠控股有限公司 ) Stargaze Wealth Limited BVI Registered capital of 50,000 shares without par value Investment holding and provision of management services 100 % 100 % ( 遙望星空有限公司 ) Indirectly hold: Peng Oi Investment (Hong Kong) Holdings Limited Hong Kong 10,000 ordinary shares Investment holding and provision of management services 100 % 100 % ( 鵬愛投資 ( 香港 ) 集團有限公司 ) Peng Yida Business Consulting (Shenzhen) Co.,Ltd The PRC Registered capital of Hong Kong dollar 500,000,000 Investment holding and provision of management services 100 % 100 % ( 鵬意達商務諮詢 ( 深圳 ) 有限公司 ) Shenzhen Pengai Hospital Investment Management Co., Ltd. The PRC Registered capital of RMB 115,000,000 Investment holding and provision of management services 100 % 100 % ( 深圳鵬愛醫院投資管理有限公司 ) Aesthetic Medical International Holdings (Singapore) Pte. Ltd. Singapore Singapore dollars 10 Investment holding and provision of management services 100 % 100 % ( 中國醫美控股 ( 新加坡 ) 有限公司 ) Shenzhen Pengcheng General Hospital Co., Ltd. The PRC Registered capital of RMB 36,000,000 Provision of aesthetic medical services and general healthcare services 100 % 100 % ( 深圳鵬程醫院有限公司 ) Shenzhen Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB 130,000,000 Provision of aesthetic medical services 100 % 100 % ( 深圳鵬愛醫療美容醫院有限公司 ) Shenzhen Pengai Beauty Promise Cosmetic Co., Ltd. The PRC Registered capital of RMB 100,000 Sales of cosmetic products 100 % 100 % ( 深圳市鵬愛美麗約定美容有限公司 ) Nanchang Pengai Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB 5,000,000 Provision of aesthetic medical services 51 % — ( 南昌鵬愛醫療美容門診部有限公司 ) Haikou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB 3,000,000 Provision of aesthetic medical services 87 % 87 % ( 海口鵬愛醫療美容醫院有限公司 ) Huizhou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB 6,000,000 Provision of aesthetic medical services 67.5 % 67.5 % ( 惠州鵬愛醫療美容醫院有限公司 ) Jinan Pengai Cosmetic Surgery Hospital Co., Ltd. The PRC Registered capital of RMB 5,210,000 Provision of aesthetic medical services 95 % 95 % ( 濟南鵬愛美容整形醫院有限公司 ) Shanghai Pengai Medical Technology Co., Ltd. The PRC Registered capital of RMB 500,000 Provision of medical aesthetic technical consulting and management services 100 % 100 % ( 上海鵬愛醫療科技有限公司 ) Shanghai Qiyue Medical Techonology Co., Ltd. The PRC Registered capital of RMB 20,000,000 Provision of medical aesthetic technical consulting and management services 51 % 51 % ( 上海祺嶽醫療科技有限公司 ) Shengli Aesthetic Technology Investment,Hong Kong Company Limited Hong Kong 10,000 ordinary shares Investment holding and provision of management services 100 % 100 % Aih Investment Management Corp. U.S.A Registered capital of 1,000,000 shares with a par of USD 0.01 per share Investment holding and provision of management services 100 % 100 % 36 Particulars of the subsidiaries (Continued) Place of incorporation/ Registered capital/ Interest held Name establishment issued share capital Principal activities 2020 2021 Indirectly hold (Continued): Shenzhen Pengai Culture Broadcast Co., Ltd. The PRC Registered capital of RMB1,000,000 Provision of cultural, artistic activities, corporate image, exhibition planning and advertising service 100 % 100 % (深圳鵬愛文化傳播有限公司) Changsha Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB500,000 Provision of aesthetic medical services 89 % 77 % (長沙鵬愛醫療美容醫院有限公司) Shanghai Pengai Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 80 % 80 % (上海鵬愛醫療美容門診部有限公司) Newa Medical Aesthetics Limited Hong Kong 1,000,000 ordinary shares Provision of aesthetic medical services 100 % 100 % Chongqing Pengai Aesthetic Medical Hospital Co. Ltd. The PRC Registered capital of RMB25,000,000 Provision of aesthetic medical services 100 % — (重慶鵬愛醫療美容門醫院有限公司) Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB18,800,000 Provision of aesthetic medical services 76 % 76 % (廣州鵬愛醫療美容門診部有限公司) Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd. The PRC Registered capital of RMB12,000,000 Provision of aesthetic medical services 89 % 89 % (廣州鵬愛醫療美容醫院有限公司) Chengdu Pengai Yueji Medical Aesthetic Clinic Co., Ltd. (成都鵬愛悅己醫療美容門診部有限公司) The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 70 % — Hangzhou Pengai Aesthetic Medical Clinic Co., Ltd. (杭州鹏爱医疗美容门诊部有限公司) The PRC Registered capital of RMB6,000,000 Provision of aesthetic medical services 80 % 100 % Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB4,000,000 Provision of aesthetic medical services 70 % — Shanghai Jiahong (formerly known as Shanghai Mingyue Yueji) Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB5,000,000 Provision of aesthetic medical services 68 % 64 % Jiangsu Liangyan Hospital Management Co., Ltd. The PRC Registered capital of RMB10,000,000 Investment holding and provision of management services 80 % — Yunnam Liangyan Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB10,000,000 Investment holding and provision of management services 41.6 % — Kunming Liangyan Aesthetic Medical Clinic Co., Ltd. The PRC Registered capital of RMB8,000,000 Provision of aesthetic medical services 39.5 % — Kunming Liangyan Hospital Management Co., Ltd. The PRC Registered capital of RMB2,000,000 Provision of aesthetic medical services 80 % — Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. (廣州鵬愛秀琪醫療美容門診部有限公司) The PRC Registered capital of RMB1,000,000 Provision of aesthetic medical services — 55.5 % Beijing AomeiYixin Investment ConsultantCo., Ltd. (北京澳美醫信投資顧問有限公司) The PRC Registered capital of RMB500,000 Investment holding and provision of management services — 95 % Beijing Haiyue Xingguang Aesthetic Medical Clinic (北京海悅星光醫療美容診所) The PRC — Provision of aesthetic medical services — 95 % Nanchang Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. (南昌鵬愛秀琪醫療美容醫院有限公司) The PRC Registered capital of RMB500,000 Provision of aesthetic medical services — 100 % Yantai Pengai Cosmetic Surgery Hospital Co., Ltd (煙台鵬愛美容整形醫院有限公司) The PRC Registered capital of RMB10,000,000 Provision of aesthetic medical services 89 % 89 % Shenzhen Pengai Yuexin Aesthetic Medical Hospital (深圳鵬愛悅心醫療美容醫院) The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 60 % — Shenzhen Pengai Yueji Aesthetic Medical Hospital ( The PRC Registered capital of RMB8,000,000 Provision of aesthetic medical services 60 % — Ninghai Pengai Aesthetic Medical Clinic Co.,Ltd. ( The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 51 % — |
Additional information_ conde_2
Additional information: condensed financial statements of the Company (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Additional information: condensed financial statements of the Company | |
Schedule of Condensed balance sheets of the parent company | 2020 2021 RMB’000 RMB’000 ASSETS Non ‑ current assets Investments in subsidiaries and due from subsidiaries 452,109 — Current assets Other receivables, deposits and prepayments 4,504 — Cash and cash equivalents 11,500 5,250 16,004 5,250 Total assets 468,113 5,250 EQUITY AND LIABILITIES Equity attributable to owners of the Company Share capital and treasury shares (1,554) (1,554) Other reserves 427,290 (42,434) Total equity 425,736 (43,988) LIABILITIES Non ‑ current liabilities Convertible note 34,190 38,059 34,190 38,059 Current liabilities Accruals, other payables and provisions 8,187 11,179 Total liabilities 42,377 49,238 Total equity and liabilities 468,113 5,250 |
Schedule of Condensed statements of comprehensive income of the parent company | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Profit/(loss) from subsidiaries 40,231 (140,096) (469,724) Selling expenses (1,889) (1,228) (511) General and administrative expenses (72,908) (103,982) (47,188) Finance income — — — Finance costs (4,144) — (338) Other loss, net — — (6,968) Fair value loss of convertible redeemable preferred shares 136,656 — — Fair value loss of convertible note (5,193) (1,599) (4,240) Fair value loss of exchangeable note liabilities 45,274 — — Fair value loss of derivative financial instrument 301 — — (Loss)/profit before income tax 138,328 (246,905) (528,969) Income tax expense — — — (Loss)/profit for the year 138,328 (246,905) (528,969) Other comprehensive income/(loss): Items that may be subsequently reclassified to profit or loss Currency translation differences 672 (731) 574 Total other comprehensive income/(loss) for the year, net of tax 672 (731) 574 Total comprehensive income/(loss) for the year 139,000 (247,636) (528,395) |
Schedule of Condensed statements of cash flows of the parent company | 2019 2020 2021 RMB’000 RMB’000 RMB’000 Net cash used in operating activities (55,411) (76,639) (6,250) Net cash used in investing activities (7,940) (8,372) — Net cash generated from financing activities 101,977 30,953 — Net increase/(decrease) in cash and cash equivalents 38,626 (54,058) (6,250) Cash and cash equivalents at beginning of the year 26,932 65,558 11,500 Cash and cash equivalents at end of the year 65,558 11,500 5,250 |
General information - (Details)
General information - (Details) | 1 Months Ended |
Oct. 31, 2019USD ($) | |
General information | |
Net proceeds from offering | $ 27,600,000 |
Summary of significant accoun_4
Summary of significant accounting policies (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS 16 - Leases | |||
Impairment carrying value of goodwill | ¥ 169,734,000 | ¥ 26,933,000 | |
Loss for the year | (669,516,000) | ¥ (246,905,000) | ¥ 138,328,000 |
Net current liabilities | 427,952,000 | ||
Net liabilities | 186,422,000 | ||
CGU | |||
IFRS 16 - Leases | |||
Impairment carrying value of goodwill | ¥ 122,099,000 |
Summary of significant accoun_5
Summary of significant accounting policies - Contractual arrangements with respect to equity interests in certain PRC subsidiaries (Details) | 12 Months Ended |
Dec. 31, 2021 | |
PRC subsidiaries | |
Percentage of equity interest held in certain PRC medical institutions after transfer of interests | 70 |
Dr. Zhou Pengwu | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 24.00% |
Yantai Pengai Cosmetic Surgery Hospital Co., Ltd. | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 30.00% |
Hangzhou Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd. | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 22.00% |
Changsha Pengai Aesthetic Medical Hospital Co., Ltd. | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 15.00% |
Shanghai Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd. | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 22.00% |
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 26.00% |
Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 25.00% |
Relevant Subsidiaries | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 19.00% |
Ms. Ding Wenting | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 12.00% |
Beijing Aomei Yixin Investment Consultant Co., Ltd., | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 30.00% |
Shenzhen Miaoyan Aesthetic Medical Clinic [Member] | |
PRC subsidiaries | |
Equity interest subject to contractual agreements | 30.00% |
Bottom of Range | |
PRC subsidiaries | |
Percentage of equity interest historically held in PRC subsidiaries | 70.00% |
Proportion of ownership interest in associate | 2.00% |
Top of Range | |
PRC subsidiaries | |
Allowable percentage of foreign investment in PRC medical institutions through joint venture entities | 70.00% |
Proportion of ownership interest in associate | 5.00% |
Summary of significant accoun_6
Summary of significant accounting policies - Segment reporting (Details) | 12 Months Ended |
Dec. 31, 2021segment | |
Summary of significant accounting policies | |
Number of operating and reportable segments | 1 |
Summary of significant accoun_7
Summary of significant accounting policies - Depreciation of property, plant and equipment (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Machinery and equipment | |
Property, plant and equipment | |
Estimated useful life of property, plant and equipment | 10 years |
Office equipment, furniture, fixture and motor vehicles | Bottom of Range | |
Property, plant and equipment | |
Estimated useful life of property, plant and equipment | 5 years |
Office equipment, furniture, fixture and motor vehicles | Top of Range | |
Property, plant and equipment | |
Estimated useful life of property, plant and equipment | 10 years |
Buildings | |
Property, plant and equipment | |
Estimated useful life of property, plant and equipment | 20 years |
Buildings | Top of Range | |
Property, plant and equipment | |
Estimated useful life of property, plant and equipment | 50 years |
Summary of significant accoun_8
Summary of significant accounting policies - Investment properties (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2019 | |
Investment properties | ||
Estimated useful life of investment properties | 20 years | |
Bottom of Range | ||
Investment properties | ||
Estimated useful life of investment properties | 20 years | |
Top of Range | ||
Investment properties | ||
Estimated useful life of investment properties | 25 years |
Summary of significant accoun_9
Summary of significant accounting policies - Intangible assets (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Computer software | |
Intangible assets | |
Amortization period | 5 years |
Bottom of Range | Medical licenses | |
Intangible assets | |
Amortization period | 2 years |
Bottom of Range | Tradenames | |
Intangible assets | |
Amortization period | 19 years |
Top of Range | Medical licenses | |
Intangible assets | |
Amortization period | 16 years |
Top of Range | Tradenames | |
Intangible assets | |
Amortization period | 20 years |
Financial risk management - Mar
Financial risk management - Market risk (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Foreign exchange risk | ||
Financial risk management | ||
Reasonable possible increase (decrease) in risk assumption | 5.00% | |
Reasonable possible increase (decrease) in post tax results due to change in risk assumption | ¥ 267,000 | ¥ 682,000 |
Cash flow and fair value interest rate risk | ||
Financial risk management | ||
Reasonable possible increase (decrease) in risk assumption | 0.10% | 0.10% |
Reasonable possible increase (decrease) in post tax results due to change in risk assumption | ¥ 48,070 | ¥ 47,000 |
Financial risk management - Liq
Financial risk management - Liquidity risk (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Financial risk management | ||
Net current liabilities | ¥ 427,952,000 | |
Undiscounted cash flows, including interest | 512,579,000 | ¥ 611,220,000 |
Within 1 year | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 268,735,000 | 268,035,000 |
Between 1 and 2 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 146,817,000 | 99,544,000 |
Between 2 and 5 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 58,745,000 | 176,351,000 |
After 5 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 38,282,000 | 67,290,000 |
Liquidity risk | ||
Financial risk management | ||
Net current liabilities | ¥ 427,947,000 | |
Series A Preferred Shares | Liquidity risk | ||
Financial risk management | ||
Maximum exposure to issue price (as a percent) | 100.00% | |
Accrued amount of maximum exposure (as a percent) | 10.00% | |
Convertible Note | ||
Financial risk management | ||
Undiscounted cash flows, including interest | ¥ 38,059,000 | 44,565,000 |
Convertible Note | Between 1 and 2 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | ¥ 38,059,000 | |
Convertible Note | Between 2 and 5 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 44,565,000 | |
Convertible note 2016 | Liquidity risk | ||
Financial risk management | ||
Maximum exposure to issue price (as a percent) | 100.00% | |
Accrued amount of maximum exposure (as a percent) | 15.00% | |
Convertible note 2020 | Liquidity risk | ||
Financial risk management | ||
Maximum exposure to issue price (as a percent) | 100.00% | |
Accrued amount of maximum exposure (as a percent) | 15.00% | |
Exchangeable note liabilities | Liquidity risk | ||
Financial risk management | ||
Maximum exposure to issue price (as a percent) | 100.00% | |
Accrued amount of maximum exposure (as a percent) | 10.00% | |
Borrowings.. | ||
Financial risk management | ||
Undiscounted cash flows, including interest | ¥ 238,594,000 | 226,615,000 |
Borrowings.. | Within 1 year | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 160,646,000 | 146,764,000 |
Borrowings.. | Between 1 and 2 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 77,948,000 | 54,657,000 |
Borrowings.. | Between 2 and 5 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 25,194,000 | |
Lease liabilities. | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 160,801,000 | 267,070,000 |
Lease liabilities. | Within 1 year | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 32,964,000 | 48,301,000 |
Lease liabilities. | Between 1 and 2 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 30,810,000 | 44,887,000 |
Lease liabilities. | Between 2 and 5 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 58,745,000 | 106,592,000 |
Lease liabilities. | After 5 years | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 38,282,000 | 67,290,000 |
Trade payables | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 31,256,000 | 33,654,000 |
Trade payables | Within 1 year | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 31,256,000 | 33,654,000 |
Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 43,396,000 | 38,092,000 |
Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) | Within 1 year | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 43,396,000 | 38,092,000 |
Amounts due to related parties | ||
Financial risk management | ||
Undiscounted cash flows, including interest | 473,000 | 1,224,000 |
Amounts due to related parties | Within 1 year | ||
Financial risk management | ||
Undiscounted cash flows, including interest | ¥ 473,000 | ¥ 1,224,000 |
Financial risk management - Cap
Financial risk management - Capital risk management (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financial risk management | ||||
Borrowings | ¥ 233,815 | ¥ 211,745 | ||
Add: Convertible note (Note 27) | 38,059 | 34,190 | ||
Less: Cash and cash equivalents (Note 18) | (39,289) | (44,384) | ¥ (154,490) | |
Restricted cash (Note 18) | (8,712) | |||
Net debt | 232,585 | 192,839 | ||
Total equity | (186,422) | 425,736 | ¥ 590,598 | ¥ (249,356) |
Total capital | ¥ 45,163 | ¥ 618,575 | ||
Gearing ratio | 514.99% | 31.20% |
Financial risk management - Fai
Financial risk management - Fair value estimation (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Financial liabilities at fair value through profit or loss | ||
Financial risk management | ||
Liabilities | ¥ 38,059 | |
Convertible note | Financial liabilities at fair value through profit or loss | ||
Financial risk management | ||
Liabilities | 38,059 | |
Level 3 | ||
Financial risk management | ||
Liabilities | 38,059 | ¥ 34,190 |
Level 3 | Financial liabilities at fair value through profit or loss | ||
Financial risk management | ||
Liabilities | 38,059 | |
Level 3 | Convertible note | ||
Financial risk management | ||
Liabilities | 38,059 | ¥ 34,190 |
Level 3 | Convertible note | Financial liabilities at fair value through profit or loss | ||
Financial risk management | ||
Liabilities | ¥ 38,059 |
Financial risk management - Cha
Financial risk management - Changes in level 3 liability (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of changes in fair value measurement, liabilities | ||
Financial instrument, fair value | ¥ 38,059,000 | |
Level 3 | ||
Reconciliation of changes in fair value measurement, liabilities | ||
Opening balance | 34,190,000 | |
Convertible note issued | ¥ 33,474,000 | |
Unrealised exchange difference | (371,000) | (883,000) |
Change in fair value | 4,240,000 | 1,599,000 |
Closing balance | 38,059,000 | 34,190,000 |
Convertible note | Level 3 | ||
Reconciliation of changes in fair value measurement, liabilities | ||
Opening balance | 34,190,000 | |
Convertible note issued | 33,474,000 | |
Unrealised exchange difference | (371,000) | (883,000) |
Change in fair value | 4,240,000 | 1,599,000 |
Closing balance | ¥ 38,059,000 | ¥ 34,190,000 |
Revenue (Details)
Revenue (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | |||
Revenue | ¥ 645,593,000 | ¥ 901,573,000 | ¥ 869,050,000 |
Contract liabilities | 236,476,000 | 8,639,000 | |
Non-surgical aesthetic medical services | |||
Revenue | |||
Revenue | 334,248,000 | 452,670,000 | 489,569,000 |
Surgical aesthetic medical services | |||
Revenue | |||
Revenue | 243,070,000 | 401,645,000 | 319,239,000 |
General healthcare services and other aesthetic medical services | |||
Revenue | |||
Revenue | ¥ 68,275,000 | ¥ 47,258,000 | ¥ 60,242,000 |
Expenses by nature (Details)
Expenses by nature (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Expenses by nature | |||
Employee benefit expenses (Note 7) | ¥ 309,250 | ¥ 322,563 | ¥ 258,495 |
Advertising and marketing expenses | 255,534 | 380,794 | 303,856 |
Cost of inventories and consumables | 174,991 | 163,881 | 112,617 |
Operating lease rental expenses | 15,836 | 4,860 | 8,986 |
Amortisation and depreciation | 99,135 | 106,405 | 83,834 |
Utilities and office expenses | 76,579 | 52,666 | 51,271 |
Travelling and entertainment expenses | 12,818 | 17,136 | 28,173 |
Bank charges | 3,213 | 4,350 | 5,158 |
Loss on disposal of property, plant and equipment | 915 | 1,444 | |
Legal and professional fee | 30,570 | 19,273 | 6,032 |
Other expenses | 9,820 | 25,207 | 25,479 |
Total expenses | ¥ 987,746 | ¥ 1,098,050 | ¥ 885,345 |
Employee benefit expenses (Deta
Employee benefit expenses (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Employee benefit expenses | |||
Wages and salaries | ¥ 250,773,000 | ¥ 225,085,000 | ¥ 186,716,000 |
Share-based compensation expenses | 35,463,000 | 78,967,000 | 47,788,000 |
Pension costs - defined contribution plans | 16,942,000 | 5,841,000 | 12,935,000 |
Other staff welfare expenses | 6,072,000 | 12,670,000 | 11,056,000 |
Employee benefit expenses | ¥ 309,250,000 | ¥ 322,563,000 | ¥ 258,495,000 |
Finance income and costs (Detai
Finance income and costs (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Finance costs | |||
Interest expense on bank borrowings | ¥ (7,844) | ¥ (8,897) | ¥ (6,055) |
Interest expense on other borrowings | (6,542) | (3,599) | (1,327) |
Interest expense on convertible note | (4,144) | ||
Interest expense on lease liabilities | (12,844) | (16,693) | (12,767) |
Finance costs | (27,230) | (29,189) | (24,293) |
Finance income | |||
Interest income on short-term bank deposits | 113 | 1,185 | 388 |
Finance costs-net | ¥ (27,117) | ¥ (28,004) | ¥ (23,905) |
Income tax expense (Details)
Income tax expense (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current tax | |||
PRC enterprise income tax | ¥ 8,208 | ¥ 486 | ¥ 20,393 |
Deferred tax | |||
Origination and reversal of temporary differences (Note 21) | (20,006) | (13,073) | (6,357) |
Income tax expense/(credit) | ¥ (11,798) | ¥ (12,587) | ¥ 14,036 |
Income tax expense - Taxation o
Income tax expense - Taxation on the Group's profit/(loss) before income tax (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of tax rates | |||
Profit/(loss) before income tax | ¥ (681,314) | ¥ (259,492) | ¥ 152,364 |
Calculated at a taxation rate of 25% | (170,329) | (64,873) | 38,091 |
Expenses not tax deductible | 42,450 | 42,824 | 25,920 |
Income not subject to tax | (1,165) | (50,693) | |
Utilisation of previously unrecognised tax losses | (428) | ||
Recognition of previously unrecognised temporary difference | (520) | 384 | |
Tax losses not recognized | 117,454 | 13,034 | 2,369 |
Difference in overseas tax rates | (304) | 351 | (124) |
Over-provision in respect of prior years | (1,069) | (1,810) | (1,727) |
Effect of preferential tax rates | (184) | ||
Income tax expense/(credit) | ¥ (11,798) | ¥ (12,587) | ¥ 14,036 |
Applicable tax rate | 25.00% | 25.00% | 25.00% |
Income tax expense - Additional
Income tax expense - Additional Information (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income tax expense | |||
Income tax rate | 25.00% | 25.00% | 25.00% |
Hong Kong | |||
Income tax expense | |||
Income tax rate | 16.50% | 16.50% | 16.50% |
PRC | |||
Income tax expense | |||
Income tax rate | 25.00% | 25.00% | 25.00% |
Singapore | |||
Income tax expense | |||
Income tax rate | 17.00% | 17.00% | 17.00% |
(Loss)_earnings per share - Com
(Loss)/earnings per share - Computation of basic and diluted profit/(loss) per share (Details) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021CNY (¥)category¥ / sharesshares | Dec. 31, 2020CNY (¥)category¥ / sharesshares | Dec. 31, 2019CNY (¥)category¥ / sharesshares | |
Earnings/(loss) per share | |||
Number of categories of dilutive securities | category | 2 | 2 | 4 |
(Loss)/profit attributable to owners of the Company - basic | ¥ | ¥ (586,619) | ¥ (235,479) | ¥ 136,309 |
(Loss)/profit attributable to owners of the Company - diluted | ¥ | ¥ (586,619) | ¥ (235,479) | ¥ (45,621) |
Weighted average number of shares - basic | 65,960,235 | 65,297,485 | 46,097,963 |
Cancellation of ordinary shares due to conversion of exchangeable note liabilities | (4,863,438) | ||
Weighted average number of shares - diluted | 65,960,235 | 65,297,485 | 58,791,662 |
(Loss)/earnings per share - basic (RMB) | ¥ / shares | ¥ (8.89) | ¥ (3.61) | ¥ 2.96 |
Loss per share - diluted (RMB) | ¥ / shares | ¥ (8.89) | ¥ (3.61) | ¥ (0.78) |
Series A Preferred Shares | |||
Earnings/(loss) per share | |||
Reversal of fair value gain | ¥ | ¥ (136,656) | ||
Conversion of convertible instrument | 12,693,699 | ||
Exchangeable note liabilities | |||
Earnings/(loss) per share | |||
Reversal of fair value gain | ¥ | ¥ (45,274) | ||
Conversion of convertible instrument | 4,863,438 |
Property, plant and equipment_2
Property, plant and equipment (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, plant and equipment | |||
Opening net book amount | ¥ 531,941,000 | ¥ 519,323,000 | |
Additions | 82,049,000 | 76,713,000 | |
Transfer from investment properties | 14,330,000 | ||
Impairment loss (Note 14) | (139,818,000) | (6,036,000) | |
Disposal | (20,097,000) | (4,347,000) | |
Business combination (Note 29) | 3,243,000 | 199,295,000 | |
Disposal of subsidiaries (Note 30) | (3,739,000) | (169,621,000) | |
Depreciation charges | (93,165,000) | (97,232,000) | ¥ (78,163,000) |
Translation adjustments | (1,665,000) | (484,000) | |
Closing net book amount | 358,749,000 | 531,941,000 | 519,323,000 |
Property, plant and equipment pledged as security for bank loans | 57,238,000 | 65,244,000 | |
Buildings | |||
Property, plant and equipment | |||
Opening net book amount | 60,635,000 | 48,349,000 | |
Transfer from investment properties | 14,330,000 | ||
Depreciation charges | (3,399,000) | (2,044,000) | |
Closing net book amount | 57,236,000 | 60,635,000 | 48,349,000 |
Leasehold improvements | |||
Property, plant and equipment | |||
Opening net book amount | 195,601,000 | 186,237,000 | |
Additions | 34,734,000 | 31,669,000 | |
Impairment loss (Note 14) | (76,375,000) | (364,000) | |
Disposal | (3,675,000) | (815,000) | |
Business combination (Note 29) | 527,000 | 29,481,000 | |
Disposal of subsidiaries (Note 30) | (975,000) | (27,440,000) | |
Depreciation charges | (39,933,000) | (23,124,000) | |
Translation adjustments | (68,000) | (43,000) | |
Closing net book amount | 109,836,000 | 195,601,000 | 186,237,000 |
Machinery and equipment | |||
Property, plant and equipment | |||
Opening net book amount | 65,622,000 | 71,806,000 | |
Additions | 40,617,000 | 6,718,000 | |
Impairment loss (Note 14) | (14,352,000) | (841,000) | |
Disposal | (8,539,000) | (61,000) | |
Business combination (Note 29) | 557,000 | 15,571,000 | |
Disposal of subsidiaries (Note 30) | (1,635,000) | (13,353,000) | |
Depreciation charges | (14,871,000) | (14,179,000) | |
Translation adjustments | (1,179,000) | (39,000) | |
Closing net book amount | 66,220,000 | 65,622,000 | 71,806,000 |
Office equipment, furniture fixtures and motor vehicles | |||
Property, plant and equipment | |||
Opening net book amount | 14,388,000 | 16,530,000 | |
Additions | 3,377,000 | 1,651,000 | |
Impairment loss (Note 14) | (4,453,000) | (119,000) | |
Disposal | (4,271,000) | (50,000) | |
Business combination (Note 29) | 6,486,000 | ||
Disposal of subsidiaries (Note 30) | (605,000) | (5,173,000) | |
Depreciation charges | (3,009,000) | (4,535,000) | |
Translation adjustments | (418,000) | (402,000) | |
Closing net book amount | 5,009,000 | 14,388,000 | 16,530,000 |
Right-of-use assets | |||
Property, plant and equipment | |||
Opening net book amount | 195,695,000 | 196,401,000 | |
Additions | 3,321,000 | 36,675,000 | |
Impairment loss (Note 14) | (44,638,000) | (4,712,000) | |
Disposal | (3,612,000) | (3,421,000) | |
Business combination (Note 29) | 2,159,000 | 147,757,000 | |
Disposal of subsidiaries (Note 30) | (524,000) | (123,655,000) | |
Depreciation charges | (31,953,000) | (53,350,000) | |
Closing net book amount | 120,448,000 | 195,695,000 | ¥ 196,401,000 |
Cost | |||
Property, plant and equipment | |||
Opening net book amount | 863,463,000 | ||
Closing net book amount | 735,709,000 | 863,463,000 | |
Cost | Buildings | |||
Property, plant and equipment | |||
Opening net book amount | 64,737,000 | ||
Closing net book amount | 64,739,000 | 64,737,000 | |
Cost | Leasehold improvements | |||
Property, plant and equipment | |||
Opening net book amount | 317,013,000 | ||
Closing net book amount | 302,000,000 | 317,013,000 | |
Cost | Machinery and equipment | |||
Property, plant and equipment | |||
Opening net book amount | 174,560,000 | ||
Closing net book amount | 132,655,000 | 174,560,000 | |
Cost | Office equipment, furniture fixtures and motor vehicles | |||
Property, plant and equipment | |||
Opening net book amount | 39,452,000 | ||
Closing net book amount | 27,756,000 | 39,452,000 | |
Cost | Right-of-use assets | |||
Property, plant and equipment | |||
Opening net book amount | 267,701,000 | ||
Closing net book amount | 208,559,000 | 267,701,000 | |
Accumulated depreciation | |||
Property, plant and equipment | |||
Opening net book amount | (331,522,000) | ||
Closing net book amount | (376,960,000) | (331,522,000) | |
Accumulated depreciation | Buildings | |||
Property, plant and equipment | |||
Opening net book amount | (4,102,000) | ||
Closing net book amount | (7,503,000) | (4,102,000) | |
Accumulated depreciation | Leasehold improvements | |||
Property, plant and equipment | |||
Opening net book amount | (121,412,000) | ||
Closing net book amount | (192,164,000) | (121,412,000) | |
Accumulated depreciation | Machinery and equipment | |||
Property, plant and equipment | |||
Opening net book amount | (108,938,000) | ||
Closing net book amount | (66,435,000) | (108,938,000) | |
Accumulated depreciation | Office equipment, furniture fixtures and motor vehicles | |||
Property, plant and equipment | |||
Opening net book amount | (25,064,000) | ||
Closing net book amount | (22,747,000) | (25,064,000) | |
Accumulated depreciation | Right-of-use assets | |||
Property, plant and equipment | |||
Opening net book amount | (72,006,000) | ||
Closing net book amount | ¥ (88,111,000) | ¥ (72,006,000) |
Lease (Details)
Lease (Details) - CNY (¥) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | |
Lease liabilities | ||||
Current | ¥ 28,278,000 | ¥ 35,868,000 | ¥ 36,266,000 | |
Non-current | 105,754,000 | 178,983,000 | 165,615,000 | |
Lease liabilities | 134,032,000 | 214,851,000 | ¥ 201,881,000 | |
Amounts recognised in the statement of comprehensive income: | ||||
Interest expense (included in finance costs) (Note 8) | 12,844,000 | 16,693,000 | ¥ 12,767,000 | |
Expense relating to short-term leases (included in cost of goods sold and administrative expenses) | 15,836,000 | 4,860,000 | ¥ 8,986,000 | |
Total cash outflow for leases | ¥ 50,575,000 | ¥ 59,646,000 |
Investment properties (Details)
Investment properties (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Investment properties | ||
Charge for the year | ¥ 1,043,000 | ¥ 2,335,000 |
Investment properties useful life | 20 years | |
Investment properties pledged as security for bank loans | ¥ 15,373,000 | |
Cost | ||
Investment properties | ||
Beginning balance | 27,824,000 | |
Transfer to owner-occupied property | (27,824,000) | |
Ending balance | 27,824,000 | |
Accumulated depreciation | ||
Investment properties | ||
Beginning balance | (12,451,000) | |
Transfer to owner-occupied property | 13,494,000 | |
Charge for the year | ¥ (1,043,000) | |
Ending balance | ¥ (12,451,000) |
Investment properties - Amounts
Investment properties - Amounts recognised in income statement and future aggregate minimum lease receipts (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Investment properties | ||
Rental income | ¥ 851 | ¥ 1,401 |
Intangible assets (Details)
Intangible assets (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Intangible assets | |||
Opening net book amount | ¥ 208,429,000 | ¥ 175,417,000 | |
Additions | 251,000 | 282,000 | |
Disposal | (1,350,000) | ||
Business combination (Note 29) | 17,116,000 | 229,980,000 | |
Disposal of subsidiaries (Note 30) | (11,504,000) | (161,529,000) | |
Amortisation | (5,970,000) | (8,130,000) | ¥ (3,336,000) |
Impairment loss (Note) | (169,734,000) | (26,933,000) | |
Increase (decrease) through net exchange differences, intangible assets other than goodwill | (658,000) | ||
Closing net book amount | 37,238,000 | 208,429,000 | 175,417,000 |
Goodwill from acquisition of subsidiaries | 14,697,000 | 148,564,000 | |
Goodwill | |||
Intangible assets | |||
Opening net book amount | 141,312,000 | 115,180,000 | |
Business combination (Note 29) | 14,697,000 | 148,564,000 | |
Disposal of subsidiaries (Note 30) | (735,000) | (102,971,000) | |
Impairment loss (Note) | (122,099,000) | (18,809,000) | |
Increase (decrease) through net exchange differences, intangible assets other than goodwill | (652,000) | ||
Closing net book amount | 33,175,000 | 141,312,000 | 115,180,000 |
Computer software | |||
Intangible assets | |||
Opening net book amount | 7,692,000 | 9,521,000 | |
Additions | 251,000 | 282,000 | |
Disposal | (1,350,000) | ||
Business combination (Note 29) | 19,000 | 220,000 | |
Disposal of subsidiaries (Note 30) | (146,000) | (233,000) | |
Amortisation | (1,797,000) | (2,098,000) | |
Impairment loss (Note) | (3,956,000) | 0 | |
Closing net book amount | 713,000 | 7,692,000 | 9,521,000 |
Medical licenses | |||
Intangible assets | |||
Impairment loss (Note) | (4,407,000) | 0 | |
Tradenames | |||
Intangible assets | |||
Opening net book amount | 59,425,000 | 50,716,000 | |
Business combination (Note 29) | 2,400,000 | 81,197,000 | |
Disposal of subsidiaries (Note 30) | (10,623,000) | (58,325,000) | |
Amortisation | (4,173,000) | (6,032,000) | |
Impairment loss (Note) | (43,679,000) | (8,124,000) | |
Increase (decrease) through net exchange differences, intangible assets other than goodwill | (7,000) | ||
Closing net book amount | 3,350,000 | 59,425,000 | ¥ 50,716,000 |
Property, plant and equipment [member] | |||
Intangible assets | |||
Impairment loss (Note) | (139,818,000) | (6,036,000) | |
Cost | |||
Intangible assets | |||
Opening net book amount | 262,334,000 | ||
Closing net book amount | 80,621,000 | 262,334,000 | |
Cost | Goodwill | |||
Intangible assets | |||
Opening net book amount | 161,527,000 | ||
Closing net book amount | 54,389,000 | 161,527,000 | |
Cost | Computer software | |||
Intangible assets | |||
Opening net book amount | 13,393,000 | ||
Closing net book amount | 12,010,000 | 13,393,000 | |
Cost | Medical licenses | |||
Intangible assets | |||
Opening net book amount | 11,178,000 | ||
Closing net book amount | 9,585,000 | 11,178,000 | |
Cost | Tradenames | |||
Intangible assets | |||
Opening net book amount | 76,236,000 | ||
Closing net book amount | 4,637,000 | 76,236,000 | |
Impairment | |||
Intangible assets | |||
Opening net book amount | (28,339,000) | ||
Closing net book amount | (25,887,000) | (28,339,000) | |
Impairment | Goodwill | |||
Intangible assets | |||
Opening net book amount | (20,215,000) | ||
Closing net book amount | (21,214,000) | (20,215,000) | |
Impairment | Computer software | |||
Intangible assets | |||
Closing net book amount | (3,954,000) | ||
Impairment | Tradenames | |||
Intangible assets | |||
Opening net book amount | (8,124,000) | ||
Closing net book amount | (719,000) | (8,124,000) | |
Accumulated depreciation | |||
Intangible assets | |||
Opening net book amount | (25,566,000) | ||
Closing net book amount | (17,496,000) | (25,566,000) | |
Accumulated depreciation | Computer software | |||
Intangible assets | |||
Opening net book amount | (5,701,000) | ||
Closing net book amount | (7,343,000) | (5,701,000) | |
Accumulated depreciation | Medical licenses | |||
Intangible assets | |||
Opening net book amount | (11,178,000) | ||
Closing net book amount | (9,585,000) | (11,178,000) | |
Accumulated depreciation | Tradenames | |||
Intangible assets | |||
Opening net book amount | (8,687,000) | ||
Closing net book amount | ¥ (568,000) | ¥ (8,687,000) |
Intangible assets - Estimated g
Intangible assets - Estimated growth Rates (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Estimated growth rates for cash flow projections | ||
Period for cash flow projections | 5 years | |
Extrapolated growth rate | 5.00% | 3.00% |
Impairment of non-current assets | ¥ 169,734,000 | ¥ 26,933,000 |
Bottom of Range | ||
Estimated growth rates for cash flow projections | ||
Annual compound revenue growth rate | 6.00% | 8.10% |
Annual gross profit ratio | 57.70% | 55.20% |
Discount rate | 16.00% | 16.00% |
Top of Range | ||
Estimated growth rates for cash flow projections | ||
Annual compound revenue growth rate | 10.00% | 21.00% |
Annual gross profit ratio | 75.00% | 80.30% |
Discount rate | 17.10% | |
Goodwill | ||
Estimated growth rates for cash flow projections | ||
Impairment of non-current assets | ¥ 122,099,000 | ¥ 18,809,000 |
Computer software | ||
Estimated growth rates for cash flow projections | ||
Impairment of non-current assets | 3,956,000 | 0 |
Medical licenses | ||
Estimated growth rates for cash flow projections | ||
Impairment of non-current assets | 4,407,000 | 0 |
Tradenames | ||
Estimated growth rates for cash flow projections | ||
Impairment of non-current assets | 43,679,000 | 8,124,000 |
Property, plant and equipment [member] | ||
Estimated growth rates for cash flow projections | ||
Impairment of non-current assets | ¥ 139,818,000 | ¥ 6,036,000 |
Investments accounted for usi_3
Investments accounted for using the equity method - Changes in investments accounted for using the equity method (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Investments accounted for using the equity method | ||
At 1 January | ¥ 8,330 | ¥ 10,256 |
Acquisition | 900 | |
Disposal | (883) | |
Share of loss | 81 | (1,043) |
At 31 December | ¥ 4,904 | ¥ 8,330 |
Investments accounted for usi_4
Investments accounted for using the equity method - Nature of investments in associates (Details) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Moyan (Shenzhen) Network Technology Co., Ltd | ||
Summarised balance sheet | ||
Equity interest in associate (in percent) | 46.00% | 46.00% |
Hangzhou Pengai | ||
Summarised balance sheet | ||
Equity interest in associate (in percent) | 30.00% | |
Shenzhen Yueji | ||
Summarised balance sheet | ||
Equity interest in associate (in percent) | 30.00% | |
Mendis Aesthetic PTE. Ltd | ||
Summarised balance sheet | ||
Equity interest in associate (in percent) | 44.40% | 44.40% |
Percentage of share capital acquired | 22.20% |
Investments accounted for usi_5
Investments accounted for using the equity method - Summarised balance sheet (Details) - CNY (¥) | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Current | ||||
Cash and cash equivalents | ¥ 39,289,000 | ¥ 44,384,000 | ¥ 154,490,000 | |
Lease liabilities | (28,278,000) | (35,868,000) | ¥ (36,266,000) | |
Total current liabilities | (541,657,000) | (301,688,000) | ||
Total non-current assets | 463,230,000 | 831,922,000 | ||
Net assets | (186,422,000) | |||
Associates | ||||
Current | ||||
Cash and cash equivalents | 1,108,000 | 1,476,000 | ||
Other current assets (excluding cash and cash equivalents) | 295,000 | 1,614,000 | ||
Total current assets | 1,403,000 | 3,090,000 | ||
Financial liabilities (excluding trade payables) | (14,000) | (1,077,000) | ||
Other current liabilities (including trade payables) | (425,000) | (99,000) | ||
Total current liabilities | (439,000) | (1,176,000) | ||
Total non-current assets | 3,050,000 | 6,150,000 | ||
Net assets | ¥ 4,014,000 | ¥ 8,064,000 |
Investments accounted for usi_6
Investments accounted for using the equity method - Summarised statement of comprehensive income (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Summarised statement of comprehensive income | |||
Revenue | ¥ 645,593,000 | ¥ 901,573,000 | ¥ 869,050,000 |
Depreciation and amortisation | (99,135,000) | (106,405,000) | (83,834,000) |
Loss before income tax | (681,314,000) | (259,492,000) | 152,364,000 |
Income tax (expense)/credit | 11,798,000 | 12,587,000 | (14,036,000) |
Loss for the year | (669,516,000) | (246,905,000) | ¥ 138,328,000 |
Associates | |||
Summarised statement of comprehensive income | |||
Revenue | 1,951,000 | 5,317,000 | |
Depreciation and amortisation | (69,000) | (159,000) | |
Interest expense | (22,000) | (297,000) | |
Loss before income tax | 354,000 | (1,279,000) | |
Loss for the year | ¥ 354,000 | ¥ (1,279,000) |
Trade and other receivables, _3
Trade and other receivables, deposits and prepayments (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Trade and other receivables, deposits and prepayments | ||
Trade receivables | ¥ 7,772,000 | ¥ 14,324,000 |
Other receivables | 1,550,000 | 53,566,000 |
Deposits | 15,204,000 | 58,212,000 |
Prepayments | 31,471,000 | 35,811,000 |
Advances to employees | 41,000 | 2,976,000 |
Trade and other receivables , Gross | 48,266,000 | 150,565,000 |
Less: Non-current portion | ||
Prepayments and deposits | (16,574,000) | (51,850,000) |
Current portion | ¥ 31,692,000 | ¥ 98,715,000 |
Age of trade receivables | 30 days | |
Consideration receivable related to disposal of subsidiaries | ¥ 41,000,000 |
Inventories (Details)
Inventories (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories | ||
Pharmaceuticals | ¥ 914 | ¥ 2,942 |
Medical consumables | 29,652 | 30,394 |
Total current inventories | ¥ 30,566 | ¥ 33,336 |
Restricted cash and cash and _3
Restricted cash and cash and bank balances (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Restricted cash and cash and bank balances | |||
Restricted cash | ¥ 8,712 | ||
Cash and cash equivalents | |||
Cash at banks | ¥ 35,685 | 38,852 | |
Time deposit | 3,000 | 5,279 | |
Cash on hand | 604 | 253 | |
Total | ¥ 39,289 | ¥ 44,384 | ¥ 154,490 |
Restricted cash and cash and _4
Restricted cash and cash and bank balances - Purpose of Consolidated Statement (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Restricted cash and cash and bank balances | ||||
Cash and cash equivalents | ¥ 39,289 | ¥ 44,384 | ¥ 154,490 | ¥ 101,886 |
Cash and cash equivalents | ¥ 39,289 | ¥ 44,384 | ¥ 154,490 |
Restricted cash and cash and _5
Restricted cash and cash and bank balances - Denominated in currencies (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and bank balances | ||
Restricted bank deposit and cash and cash equivalents | ¥ 39,289 | ¥ 53,096 |
RMB | ||
Cash and bank balances | ||
Restricted bank deposit and cash and cash equivalents | 31,021 | 33,478 |
US dollars | ||
Cash and bank balances | ||
Restricted bank deposit and cash and cash equivalents | 7,125 | 18,199 |
Hong Kong dollars | ||
Cash and bank balances | ||
Restricted bank deposit and cash and cash equivalents | 6 | 567 |
Singapore dollars | ||
Cash and bank balances | ||
Restricted bank deposit and cash and cash equivalents | ¥ 1,137 | ¥ 852 |
Share capital (Details)
Share capital (Details) | Oct. 13, 2020CNY (¥)shares | Oct. 25, 2019shares | Mar. 09, 2012CNY (¥) | Mar. 09, 2012USD ($)$ / shares | Dec. 31, 2020CNY (¥)shares | Dec. 31, 2020USD ($)shares | Dec. 31, 2019CNY (¥)shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2021$ / shares | Oct. 13, 2020USD ($) |
Nominal value | ||||||||||
Issuance of shares, Nominal value | ¥ | ¥ 211,959,000 | |||||||||
Preferred shares converted into ordinary share upon initial public offering (Note iii), Nominal value | ¥ | 479,927,000 | |||||||||
Total consideration for share repurchases | ¥ | ¥ 1,982,000 | |||||||||
Ordinary shares | ||||||||||
Authorised: | ||||||||||
Par value per share | $ / shares | $ 0.001 | |||||||||
American depositary shares | ||||||||||
Number of shares | ||||||||||
Issuance of shares upon initial public offering (Note ii) (in shares) | 2,500,000 | |||||||||
Nominal value | ||||||||||
Authorized to repurchase shares | $ | $ 6,000,000 | |||||||||
Number of ordinary shares repurchased | 135,000 | |||||||||
Total consideration for share repurchases | ¥ | ¥ 2,000,000 | |||||||||
Series A Preferred Shares | ||||||||||
Authorised: | ||||||||||
Par value per share | $ / shares | $ 1 | |||||||||
Nominal value | ||||||||||
Issuance of shares, Nominal value | ¥ 98,132,000 | $ 15,600,000 | ||||||||
Number of shares converted | 15,600,000 | |||||||||
Share capital | ||||||||||
Nominal value | ||||||||||
Issuance of shares, Nominal value | ¥ | 53,000 | |||||||||
Issuance of shares held as treasury shares (Note 31), Nominal value | ¥ | 41,000 | |||||||||
Preferred shares converted into ordinary share upon initial public offering (Note iii), Nominal value | ¥ | ¥ 110,000 | |||||||||
Share capital | Ordinary shares | ||||||||||
Number of shares | ||||||||||
Authorised at beginning, Number of shares | 121,983,052 | 121,983,052 | ||||||||
Increased in authorised shares, Number of shares | 1,378,016,948 | 1,378,016,948 | ||||||||
Authorised at ending, Number of shares | 1,500,000,000 | 1,500,000,000 | ||||||||
Nominal value | ||||||||||
Authorised at beginning , Nominal value | ¥ 802,000 | $ 122,000 | ||||||||
Increased in authorised shares, Nominal value | ¥ 9,797,000 | $ 1,378,000 | ||||||||
Authorised at ending, Nominal value | ¥ 10,599,000 | $ 1,500,000 | ||||||||
Number of shares | ||||||||||
Issued and paid capital at beginning, Number of shares | 41,798,219 | 41,798,219 | ||||||||
Issuance of shares held as treasury shares (Note 32) (in shares) | 5,940,452 | 5,940,452 | ||||||||
Issuance of shares upon initial public offering (Note ii) (in shares) | 7,500,000 | 7,500,000 | 7,500,000 | |||||||
Preferred shares converted into ordinary share upon initial public offering (Note iii) (in shares) | 15,600,000 | 15,600,000 | 15,600,000 | |||||||
Issued and paid capital at ending, Number of shares | 70,838,671 | 70,838,671 | ||||||||
Nominal value | ||||||||||
Balance at the beginning | ¥ 265,000 | $ 42,000 | ||||||||
Issuance of shares, Nominal value | 53,000 | 8,000 | ||||||||
Issuance of shares held as treasury shares (Note 31), Nominal value | 41,000 | 6,000 | ||||||||
Preferred shares converted into ordinary share upon initial public offering (Note iii), Nominal value | ¥ 110,000 | $ 16,000 | ||||||||
Balance at the end | ¥ 469,000 | $ 72,000 |
Other reserves (Details)
Other reserves (Details) - CNY (¥) | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2015 | |
Other reserves | ||||
Balance at the beginning | ¥ 425,736,000 | ¥ 590,598,000 | ¥ (249,356,000) | |
Translation of foreign operations | 574,000 | (731,000) | 672,000 | |
Transfer to statutory reserve | 0 | |||
Disposal of a subsidiary due to loss of control | 20,840,000 | (28,579,000) | (2,541,000) | |
Share-based payment reserve | 35,462,000 | 78,967,000 | 47,788,000 | |
Share re-purchase | 1,982,000 | |||
Issuance of shares | 211,959,000 | |||
Transaction costs related to issuance of shares upon initial public offering | (45,516,000) | |||
Balance at the end | (186,422,000) | 425,736,000 | 590,598,000 | |
Share-based compensation expenses | 35,463,000 | 78,967,000 | 47,788,000 | |
Reserves | ||||
Other reserves | ||||
Balance at the beginning | 870,355,000 | 789,285,000 | 95,245,000 | |
Translation of foreign operations | 574,000 | (731,000) | 672,000 | |
Transfer to statutory reserve | 194,000 | 4,621,000 | ||
Further acquisition of interests in subsidiaries (Note 31) | (555,000) | 92,000 | (5,741,000) | |
Partial disposal of interests in subsidiaries without loss of control (Note 31) | 3,575,000 | 2,548,000 | 493,000 | |
Share-based payment reserve | 35,462,000 | 78,967,000 | 47,788,000 | |
Issuance of shares | 211,906,000 | |||
Transaction costs related to issuance of shares upon initial public offering | (45,516,000) | |||
Preferred shares converted into ordinary share upon initial public offering | 339,346,000 | |||
Exchangeable note converted into ordinary share upon initial public offering | 140,471,000 | |||
Balance at the end | 909,411,000 | 870,355,000 | 789,285,000 | |
Capital reserve | ||||
Other reserves | ||||
Balance at the beginning | 707,510,000 | 707,510,000 | 61,303,000 | |
Further acquisition of interests in subsidiaries (Note 31) | 380,000 | |||
Issuance of shares | 211,906,000 | |||
Transaction costs related to issuance of shares upon initial public offering | (45,516,000) | |||
Preferred shares converted into ordinary share upon initial public offering | 339,346,000 | |||
Exchangeable note converted into ordinary share upon initial public offering | 140,471,000 | |||
Balance at the end | 707,890,000 | 707,510,000 | 707,510,000 | |
Merger reserve | ||||
Other reserves | ||||
Balance at the beginning | (10,000,000) | (10,000,000) | (10,000,000) | |
Balance at the end | (10,000,000) | (10,000,000) | (10,000,000) | |
Statutory reserve | ||||
Other reserves | ||||
Balance at the beginning | 42,777,000 | 42,583,000 | 37,962,000 | |
Transfer to statutory reserve | 194,000 | 4,621,000 | ||
Balance at the end | ¥ 42,777,000 | 42,777,000 | 42,583,000 | |
Threshold percentage of share capital reserves to total share capital after which appropriation is optional | 50.00% | |||
Share-based compensation reserve | ||||
Other reserves | ||||
Balance at the beginning | ¥ 194,715,000 | 115,748,000 | 67,960,000 | |
Share-based payment reserve | 35,462,000 | 78,967,000 | 47,788,000 | |
Balance at the end | ¥ 230,177,000 | 194,715,000 | 115,748,000 | |
Threshold percentage of share capital reserves to total share capital after which appropriation is optional | 10.00% | |||
Reserve resulting from lapsing of options | ¥ 67,960,000 | |||
Other reserve | ||||
Other reserves | ||||
Balance at the beginning | ¥ (64,647,000) | (66,556,000) | (61,980,000) | |
Translation of foreign operations | 574,000 | (731,000) | 672,000 | |
Further acquisition of interests in subsidiaries (Note 31) | (935,000) | 92,000 | (5,741,000) | |
Partial disposal of interests in subsidiaries without loss of control (Note 31) | 3,575,000 | 2,548,000 | 493,000 | |
Balance at the end | (61,433,000) | (64,647,000) | ¥ (66,556,000) | |
Share-based compensation expenses | ¥ 35,462,000 | ¥ 78,967,000 |
Deferred income tax (Details)
Deferred income tax (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred income tax | |||
Deferred tax assets | ¥ 45,765 | ¥ 32,646 | ¥ 19,900 |
Deferred tax liabilities | (14,651) | (12,829) | |
Tax losses | |||
Deferred income tax | |||
Deferred tax assets | 43,323 | 27,988 | 17,478 |
Others | |||
Deferred income tax | |||
Deferred tax assets | 2,442 | 4,658 | 2,422 |
Deferred tax liabilities | (226) | (581) | |
Medical licenses and tradenames | |||
Deferred income tax | |||
Deferred tax liabilities | ¥ (285) | ¥ (14,425) | ¥ (12,248) |
Deferred income tax - Deferred
Deferred income tax - Deferred income tax assets - net (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred income tax | |||
Deferred income tax assets | ¥ 45,765 | ¥ 31,372 | |
Deferred income tax liabilities | (285) | (13,377) | |
Deferred income tax assets - net | 45,480 | 17,995 | ¥ 7,071 |
After more than 12 months | |||
Deferred income tax | |||
Deferred income tax assets | 45,765 | 31,363 | |
Deferred income tax liabilities | ¥ (285) | (12,107) | |
Within 1 year | |||
Deferred income tax | |||
Deferred income tax assets | 9 | ||
Deferred income tax liabilities | ¥ (1,270) |
Deferred income tax - Gross mov
Deferred income tax - Gross movement on deferred income tax account is as follows (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Gross movement on deferred income tax accounts | ||
Deferred tax liability (asset) at beginning of period | ¥ 17,995 | ¥ 7,071 |
Acquisition of subsidiaries (Note 29) | (1,385) | |
Disposal of subsidiaries (Note 30) | 7,479 | (750) |
Credited to consolidated statement of comprehensive income | 20,006 | 13,073 |
Translation adjustment | (14) | |
Deferred tax liability (asset) at end of period | 45,480 | 17,995 |
Deferred income tax assets | ||
Balance at the beginning | 32,646 | 19,900 |
Acquisition of subsidiaries (Note 29) | 18,914 | |
Disposal of subsidiaries (Note 30) | (6,887) | (15,331) |
Credited to consolidated statement of comprehensive income | 20,006 | 9,193 |
Translation adjustment | (30) | |
Balance at the end | 45,765 | 32,646 |
Deferred income tax liabilities | ||
Balance at the beginning | 14,651 | 12,829 |
Acquisition of subsidiaries (Note 29) | 20,297 | |
Disposal of subsidiaries (Note 30) | (14,366) | (14,581) |
(Credited)/Charge to consolidated statement of comprehensive income | (3,880) | |
Translation adjustment | (14) | |
Balance at the end | 14,651 | |
Tax losses | ||
Deferred income tax assets | ||
Balance at the beginning | 27,988 | 17,478 |
Acquisition of subsidiaries (Note 29) | 13,422 | |
Disposal of subsidiaries (Note 30) | (6,144) | (10,017) |
Credited to consolidated statement of comprehensive income | 21,479 | 7,135 |
Translation adjustment | (30) | |
Balance at the end | 43,323 | 27,988 |
Others | ||
Deferred income tax assets | ||
Balance at the beginning | 4,658 | 2,422 |
Acquisition of subsidiaries (Note 29) | 5,492 | |
Disposal of subsidiaries (Note 30) | (743) | (5,314) |
Credited to consolidated statement of comprehensive income | (1,473) | 2,058 |
Balance at the end | 2,442 | 4,658 |
Deferred income tax liabilities | ||
Balance at the beginning | 226 | 581 |
Disposal of subsidiaries (Note 30) | (226) | |
(Credited)/Charge to consolidated statement of comprehensive income | (341) | |
Translation adjustment | (14) | |
Balance at the end | 226 | |
Medical licenses and tradenames | ||
Deferred income tax liabilities | ||
Balance at the beginning | 14,425 | 12,248 |
Acquisition of subsidiaries (Note 29) | 20,297 | |
Disposal of subsidiaries (Note 30) | (14,140) | (14,581) |
(Credited)/Charge to consolidated statement of comprehensive income | (3,539) | |
Balance at the end | ¥ 285 | ¥ 14,425 |
Deferred income tax - Unrecogni
Deferred income tax - Unrecognised tax losses which can be carried forward against future taxable income (Details) - CNY (¥) | Dec. 31, 2021 | Dec. 31, 2020 |
Deferred income tax | ||
Unrecognised tax losses | ¥ 91,221,000 | ¥ 71,862,000 |
Within 5 years | ||
Deferred income tax | ||
Unrecognised tax losses | ¥ 91,221,000 | ¥ 71,862,000 |
Borrowings (Details)
Borrowings (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Non-current | ||
Bank borrowings - secured | ¥ 23,470 | ¥ 23,770 |
Bank borrowings - non-secured | 10,060 | |
Other borrowings - secured | 54,137 | 42,101 |
Non-current borrowings, total | 77,607 | 75,931 |
Current | ||
Bank borrowings - secured | 82,680 | 38,491 |
Bank borrowings - non-secured | 39,575 | |
Other borrowings - secured | 73,528 | 57,748 |
Current borrowings, total | 156,208 | 135,814 |
Borrowings, total | ¥ 233,815 | ¥ 211,745 |
Effective interest rate on the borrowings | 6.90% |
Trade and accruals, other pay_3
Trade and accruals, other payables and provisions (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Trade and accruals, other payables and provisions | ||
Trade payables | ¥ 31,256 | ¥ 33,654 |
Accrued employee benefits | 26,458 | 21,327 |
Accrued operating expenses | 5,516 | 7,648 |
Accrued professional service fees | 9,857 | 12,050 |
Deposits received | 826 | 1,122 |
Duty and tax payable other than corporate income tax | 2,172 | 8,242 |
Other payables to suppliers of plant and equipment | 779 | 6,909 |
Others | 27,240 | 11,485 |
Trade and Accruals, Other Payables and Provisions | ¥ 104,104 | ¥ 102,437 |
Contract liabilities (Details)
Contract liabilities (Details) - CNY (¥) | Dec. 31, 2021 | Dec. 31, 2020 |
Contract liabilities | ||
Advance receipt for treatment packages | ¥ 236,476,000 | ¥ 8,639,000 |
Convertible redeemable prefer_3
Convertible redeemable preferred shares (Details) | Mar. 09, 2012CNY (¥)Vote | Mar. 09, 2012USD ($)Vote$ / sharesshares | Dec. 31, 2019CNY (¥) |
Share capital | |||
Issuance of shares | ¥ | ¥ 211,959,000 | ||
Series A Preferred Shares | |||
Share capital | |||
Number of shares issued | shares | 15,600,000 | ||
Price per share | $ 1 | ||
Issuance of shares | ¥ 98,132,000 | $ 15,600,000 | |
Par value of shares | $ 1 | ||
Preferred stock, Dividend rate | 8.00% | 8.00% | |
Number of votes per preferred share upon conversion to ordinary share | Vote | 1 | 1 | |
Initial conversion ratio | 1 | 1 | |
Redemption price as a percent of issuance price | 100.00% | 100.00% | |
Percentage of redemption amount accruing from issuance of note till redemption | 10.00% | 10.00% | |
Liquidation preferences as a percent of issuance price | 100.00% | 100.00% | |
Percentage of Liquidation preference amount accruing from issuance of note till redemption | 8.00% | 8.00% |
Convertible redeemable prefer_4
Convertible redeemable preferred shares - Movement of the Series A Preferred Shares (Details) - Series A Preferred Shares - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Movement of the Series A Preferred Shares | ||
Balance at the beginning | ¥ 476,112 | ¥ 249,864 |
Change in fair value | (136,656) | 226,248 |
Converted into ordinary share upon initial public offering | (339,456) | |
Balance at the end | 476,112 | |
Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end | ¥ (136,656) | ¥ 226,248 |
Convertible note (Details)
Convertible note (Details) | Sep. 17, 2020USD ($) | Dec. 08, 2016USD ($) | Sep. 17, 2020CNY (¥) | Dec. 08, 2016CNY (¥) |
Convertible note 2016 | ||||
Redemption feature | ||||
Face amount of debt | $ 8,700,948 | ¥ 60,163,000 | ||
Threshold minimum percentage of outstanding voting power transferred on acquisition | 50.00% | |||
Convertible note 2016 | Exit evet or fourth anniversary of issuance of debt | ||||
Redemption feature | ||||
Redemption price as a percent of issuance price | 100.00% | |||
Percentage of redemption amount accruing from issuance of note till redemption | 15.00% | |||
Convertible note 2016 | Before first anniversary | ||||
Redemption feature | ||||
Redemption price as a percent of issuance price | 100.00% | |||
Percentage of redemption amount accruing from issuance of note till redemption | 8.00% | |||
Convertible note 2016 | Upon or after first anniversary but before fourth anniversary | ||||
Redemption feature | ||||
Redemption price as a percent of issuance price | 100.00% | |||
Percentage of redemption amount accruing from issuance of note till redemption | 15.00% | |||
Convertible note 2020 | ||||
Redemption feature | ||||
Face amount of debt | $ 5,000,000 | ¥ 33,474,000 | ||
Convertible note 2020 | Note conversion at maturity date | ||||
Redemption feature | ||||
Redemption price as a percent of issuance price | 12.50% | |||
Convertible note 2020 | Note conversion after one year from the issue date | ||||
Redemption feature | ||||
Percentage of redemption amount accruing from issuance of note till redemption | 15.00% |
Convertible note - Changes in c
Convertible note - Changes in convertible notes (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair value measurement | ||||
Liabilities at beginning of period | ¥ 612,350 | |||
Liabilities at end of period | 763,362 | ¥ 612,350 | ||
Convertible note 2016 | ||||
Fair value measurement | ||||
Liabilities at beginning of period | ¥ 70,598 | ¥ 61,446 | ||
Change in fair value | 5,193 | 9,152 | ||
Repayment during the year | (75,791) | |||
Liabilities at end of period | 70,598 | |||
Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end | 5,193 | ¥ 9,152 | ||
Convertible note 2020 | ||||
Fair value measurement | ||||
Liabilities at beginning of period | 34,190 | 0 | ||
Convertible note issued | 33,474 | |||
Unrealised exchange difference | (371) | (883) | ||
Change in fair value | 4,240 | 1,599 | ||
Liabilities at end of period | 38,059 | 34,190 | ¥ 0 | |
Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end | ¥ 4,240 | ¥ 1,599 |
Exchangeable note liabilities_2
Exchangeable note liabilities (Details) | Dec. 08, 2016CNY (¥)Voteshares | Sep. 30, 2019shares | Dec. 31, 2021CNY (¥) | Dec. 08, 2016USD ($)$ / shares |
Exchange feature | ||||
Fair value of the Exchangeable note | ¥ 38,059,000 | |||
Series B Preferred Shares | ||||
Exchange feature | ||||
Preferred stock, Dividend rate | 8.00% | |||
Number of Votes Per Preferred Share Upon Conversion To Ordinary Share | Vote | 1 | |||
Preferred stock, redemption price, percentage to issuance price | 100.00% | |||
Percentage of redemption amount accruing from issuance of note till redemption | 10.00% | |||
Liquidation preferences as a percent of issuance price | 100.00% | |||
Percentage of Liquidation preference amount accruing from issuance of note till redemption | 10.00% | |||
Other reserve | ||||
Exchange feature | ||||
Reduction in other reserves | ¥ 51,311,000 | |||
Exchangeable note liabilities | ||||
Exchange feature | ||||
Face amount of debt | ¥ 97,227,875 | $ 13,921,517 | ||
Number of Series B Preferred Shares issuable upon occurrence of exchange | shares | 5,976,960 | 5,976,960 | ||
Ordinary shares that will be cancelled upon occurrence of exchange | shares | 5,976,960 | |||
Fair value of the Exchangeable note | ¥ 90,513,000 | |||
Excess of fair value of Series B Preferred Shares over fair value of the ordinary shares to be cancelled upon exchange | ¥ 39,202,000 | |||
Exchangeable note liabilities | Series B Preferred Shares | ||||
Exchange feature | ||||
Exchange price | $ / shares | $ 2.3292 | |||
Par value of shares | $ / shares | $ 1 |
Exchangeable note liabilities -
Exchangeable note liabilities - Changes in Fair Value Measurement Of Liabilities (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in fair value measurement, liabilities | |||
Liabilities at beginning of period | ¥ 612,350 | ||
Liabilities at end of period | ¥ 763,362 | ||
Exchangeable note liabilities | |||
Reconciliation of changes in fair value measurement, liabilities | |||
Liabilities at beginning of period | ¥ 185,745 | ¥ 128,820 | |
Change in fair value | (45,274) | 56,925 | |
Converted into ordinary share upon initial public offering | (140,471) | ||
Liabilities at end of period | 185,745 | ||
Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end | ¥ (45,274) | ¥ 56,925 |
Cash generated from operation_2
Cash generated from operations (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash generated from operations | |||
Profit/(loss) before income tax | ¥ (681,314,000) | ¥ (259,492,000) | ¥ 152,364,000 |
Adjustments for: | |||
Finance income | (113,000) | (1,185,000) | (388,000) |
Finance costs | 27,230,000 | 29,189,000 | 24,293,000 |
Amortisation of intangible assets (Note 14) | 5,970,000 | 8,130,000 | 3,336,000 |
Depreciation of property, plant and equipment (Note 11) | 93,165,000 | 97,232,000 | 78,163,000 |
Depreciation of investment properties (Note 13) | 1,043,000 | 2,335,000 | |
Loss on disposal of property, plant and equipment | (14,349,000) | (703,000) | (1,715,000) |
Loss on disposal of intangible assets | 1,350,000 | ||
Share of (profits)/losses of investments accounted for using the equity method | (81,000) | 1,043,000 | 1,738,000 |
Fair value loss/(gain) of convertible redeemable preferred shares | (136,656,000) | ||
Fair value loss of convertible note | 4,240,000 | 1,599,000 | 5,193,000 |
Fair value loss/(gain) of exchangeable note liabilities | (45,274,000) | ||
Fair value loss/(gain) of derivative financial instrument | (301,000) | ||
Transaction cost related to issuance of convertible note | 677,000 | ||
Share-based compensation expenses | 35,463,000 | 78,967,000 | 47,788,000 |
Written-off of assets/liabilities held for sale | 2,070,000 | ||
Impairment of non-current assets | 313,959,000 | 32,969,000 | 1,405,000 |
Unrealised exchange difference | (373,000) | 515,000 | |
Gain/(loss) on disposal of associates | 928,000 | (14,251,000) | |
Loss/(gain) on disposal of subsidiaries (Note 31) | 21,558,000 | 1,531,000 | (3,040,000) |
Total before changes in working capital | (166,120,000) | (6,151,000) | 120,490,000 |
Changes in working capital: | |||
Inventories | (800,000) | (8,971,000) | (3,037,000) |
Trade receivables | 3,849,000 | (7,781,000) | 1,376,000 |
Other receivables, deposits and prepayments | 34,108,000 | 10,470,000 | (11,742,000) |
Trade payables | 4,543,000 | 15,969,000 | (1,567,000) |
Accruals, other payables and provisions | (52,018,000) | 15,191,000 | (4,521,000) |
Contract liabilities | 228,153,000 | (13,145,000) | (304,000) |
Cash flow from operating activities | ¥ 51,715,000 | ¥ 5,582,000 | ¥ 100,695,000 |
Cash generated from operation_3
Cash generated from operations - Net debt (Details) - CNY (¥) ¥ in Thousands | Jan. 02, 2019 | Dec. 31, 2021 | Dec. 31, 2020 |
Total | |||
Balance at beginning of year | ¥ (426,596) | ¥ (342,268) | |
Adjusted beginning balance | ¥ 426,596 | ||
Cash Flows | 58,749 | (84,328) | |
Balance at end of year | (367,847) | (426,596) | |
Borrowings due within 1 year | |||
Liabilities from financing activities | |||
Balance at beginning | (135,814) | (127,470) | |
Cash flows | (20,394) | (8,344) | |
Balance at ending | (156,208) | (135,814) | |
Borrowings due after 1 year | |||
Liabilities from financing activities | |||
Balance at beginning | (75,931) | (12,917) | |
Cash flows | (1,676) | (63,014) | |
Balance at ending | (77,607) | (75,931) | |
Lease liabilities due within 1 year | |||
Liabilities from financing activities | |||
Balance at beginning | (35,868) | (36,266) | |
Adjusted beginning balance | (35,868) | ||
Cash flows | 7,590 | 398 | |
Balance at ending | (28,278) | (35,868) | |
Lease Liabilities due after 1 year | |||
Liabilities from financing activities | |||
Balance at beginning | (178,983) | (165,615) | |
Adjusted beginning balance | ¥ (178,983) | ||
Cash flows | 73,229 | (13,368) | |
Balance at ending | ¥ (105,754) | ¥ (178,983) |
Business combination - Shanghai
Business combination - Shanghai Jiahong (Details) - CNY (¥) | Mar. 26, 2020 | Mar. 25, 2020 | Jan. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash flows from investing activities | ||||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (7,273,000) | ¥ (69,951,000) | ¥ (28,880,000) | |||
Shanghai Jiahong | ||||||
Business combination | ||||||
Percentage of share capital acquired | 80.00% | |||||
Consideration paid | ¥ 7,200,000 | |||||
Goodwill | 6,446,000 | |||||
Total consideration | ||||||
Cash paid | 4,940,000 | |||||
Cash received | (3,940,000) | |||||
Consideration payable | 6,200,000 | |||||
Total purchase consideration | 7,200,000 | |||||
Assets and liabilities recognised as a result of the acquisition | ||||||
Cash and cash equivalents | 1,121,000 | |||||
Intangible assets | 2,120,000 | |||||
Trade and other receivables | 602,000 | |||||
Inventories | 123,000 | |||||
Property, plant and equipment | 4,014,000 | |||||
Trade payables and other payables | (2,392,000) | |||||
Lease liabilities | (4,116,000) | |||||
Deferred income tax liabilities | (530,000) | |||||
Non-controlling interest | (188,000) | |||||
Net identifiable assets acquired | 754,000 | |||||
Add: goodwill (Note 14) | 6,446,000 | |||||
Net assets acquired | 7,200,000 | |||||
Cash flows from investing activities | ||||||
Cash consideration | (1,500,000) | |||||
Cash and cash equivalents | 1,121,000 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (379,000) | |||||
Revenue since acquisition | ¥ 14,587,000 | |||||
Net profit (loss) since acquisition | ¥ 677,000 | |||||
Pro forma revenue | ¥ 901,593,000 | |||||
Pro forma profit/(loss) after tax | ¥ (247,616,000) |
Business combination - Xian New
Business combination - Xian New Pengai Yueji (Details) - CNY (¥) | Apr. 25, 2020 | Apr. 24, 2020 | Jan. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash flows from investing activities | ||||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (7,273,000) | ¥ (69,951,000) | ¥ (28,880,000) | |||
Xian New Pengai Yueji Medical Aesthetic Clinic Co Ltd Member | ||||||
Business combination | ||||||
Percentage of share capital acquired | 70.00% | |||||
Consideration paid | ¥ 13,208,000 | |||||
Goodwill | 9,961,000 | |||||
Total consideration | ||||||
Fair value of the previously held equity interest at the acquisition date | 10,500,000 | |||||
Cash paid | 2,252,000 | |||||
Settlement of pre-existing balance | 456,000 | |||||
Total purchase consideration | 13,208,000 | |||||
Assets and liabilities recognised as a result of the acquisition | ||||||
Cash and cash equivalents | 245,000 | |||||
Intangible assets | 4,240,000 | |||||
Trade and other receivables | 401,000 | |||||
Inventories | 148,000 | |||||
Property, plant and equipment | 3,881,000 | |||||
Trade payables and other payables | (180,000) | |||||
Lease liabilities | (3,585,000) | |||||
Current income tax liabilities | (99,000) | |||||
Deferred income tax liabilities | (412,000) | |||||
Non-controlling interest | (1,392,000) | |||||
Net identifiable assets acquired | 3,247,000 | |||||
Add: goodwill (Note 14) | 9,961,000 | |||||
Net assets acquired | 13,208,000 | |||||
Cash flows from investing activities | ||||||
Cash consideration | (5,820,000) | |||||
Cash and cash equivalents | 245,000 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (5,575,000) | |||||
Revenue since acquisition | ¥ 1,690,000 | |||||
Net profit (loss) since acquisition | ¥ 1,972,000 | |||||
Pro forma revenue | ¥ 903,306,000 | |||||
Pro forma profit/(loss) after tax | ¥ (246,715,000) |
Business combination - Jiangsu
Business combination - Jiangsu Liangyan (Details) - CNY (¥) | Sep. 04, 2020 | Sep. 03, 2020 | Jan. 01, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash flows from investing activities | ||||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (7,273,000) | ¥ (69,951,000) | ¥ (28,880,000) | |||
Jiangsu Liangyan Medical Aesthetic Clinic Co Ltd Member | ||||||
Business combination | ||||||
Percentage of share capital acquired | 80.00% | |||||
Consideration paid | ¥ 39,147,000 | |||||
Goodwill | 29,186,000 | |||||
Total consideration | ||||||
Cash paid | 25,000,000 | |||||
Contingent consideration | 8,181,000 | |||||
Settlement of pre-existing balance | 5,966,000 | |||||
Total purchase consideration | 39,147,000 | |||||
Assets and liabilities recognised as a result of the acquisition | ||||||
Cash and cash equivalents | 1,198,000 | |||||
Intangible assets | 14,000,000 | |||||
Trade and other receivables | 1,700,000 | |||||
Inventories | 452,000 | |||||
Property, plant and equipment | 17,823,000 | |||||
Trade payables and other payables | (2,717,000) | |||||
Borrowings | (810,000) | |||||
Lease liabilities | 13,928,000 | |||||
Deferred income tax liabilities | (3,337,000) | |||||
Non-controlling interest | (4,420,000) | |||||
Net identifiable assets acquired | 9,961,000 | |||||
Add: goodwill (Note 14) | 29,186,000 | |||||
Net assets acquired | 39,147,000 | |||||
Cash flows from investing activities | ||||||
Cash consideration | (25,000,000) | |||||
Cash and cash equivalents | 1,198,000 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (23,802,000) | |||||
Revenue since acquisition | ¥ 7,910,000 | |||||
Net profit (loss) since acquisition | ¥ 1,184,000 | |||||
Pro forma revenue | ¥ 924,948,000 | |||||
Pro forma profit/(loss) after tax | ¥ (249,660,000) |
Business combination - Guangdon
Business combination - Guangdong Hanfei (Details) - CNY (¥) | Dec. 25, 2020 | Aug. 04, 2020 | Apr. 25, 2020 | Jan. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 24, 2020 |
Guangdong Hanfei | |||||||
Business combination | |||||||
Percentage of voting rights acquired | 51.00% | ||||||
Total purchase consideration | ¥ 125,426,000 | ||||||
Goodwill | 102,971,000 | ||||||
Cash consideration paid | ¥ 42,000,000 | ¥ 19,000,000 | |||||
Proportion of ownership interest disposed off | 51.00% | ||||||
Total consideration | |||||||
Cash paid | 61,000,000 | ||||||
Consideration payable | 41,000,000 | ||||||
Contingent consideration | 41,021,000 | ||||||
Derivative financial assets | (22,611,000) | ||||||
Settlement of pre-existing balance | 5,016,000 | ||||||
Total purchase consideration | 125,426,000 | ||||||
Assets and liabilities recognised as a result of the acquisition | |||||||
Cash and cash equivalents | 1,805,000 | ||||||
Intangible assets | 61,057,000 | ||||||
Trade and other receivables | 13,020,000 | ||||||
Inventories | 7,061,000 | ||||||
Property, plant and equipment | 173,577,000 | ||||||
Deferred income tax assets | 2,894,000 | ||||||
Trade payables and other payables | (34,700,000) | ||||||
Borrowings | (5,545,000) | ||||||
Lease liabilities | 135,814,000 | ||||||
Contract liabilities | (23,732,000) | ||||||
Current income tax liabilities | (10,499,000) | ||||||
Non-controlling interest | (26,669,000) | ||||||
Net identifiable assets acquired | 22,455,000 | ||||||
Add: goodwill (Note 14) | 102,971,000 | ||||||
Net assets acquired | 125,426,000 | ||||||
Cash flows from investing activities | |||||||
Cash consideration | (42,000,000) | ||||||
Cash and cash equivalents | 1,805,000 | ||||||
Net inflow of cash and cash equivalents included in cash flows from investing activities | (40,195,000) | ||||||
Revenue since acquisition | 181,371,000 | ||||||
Net profit (loss) since acquisition | 3,996,000 | ||||||
Pro forma revenue | ¥ 1,069,869,000 | ||||||
Pro forma profit/(loss) after tax | (245,715,000) | ||||||
Jinan Pengai | |||||||
Business combination | |||||||
Goodwill | 102,971,000 | ||||||
Assets and liabilities recognised as a result of the acquisition | |||||||
Add: goodwill (Note 14) | ¥ 102,971,000 | ||||||
Xian New Pengai Yueji Medical Aesthetic Clinic Co Ltd Member | |||||||
Business combination | |||||||
Percentage of voting rights acquired | 70.00% | ||||||
Total purchase consideration | ¥ 13,208,000 | ||||||
Goodwill | 9,961,000 | ||||||
Total consideration | |||||||
Cash paid | 2,252,000 | ||||||
Settlement of pre-existing balance | 456,000 | ||||||
Total purchase consideration | 13,208,000 | ||||||
Assets and liabilities recognised as a result of the acquisition | |||||||
Cash and cash equivalents | 245,000 | ||||||
Intangible assets | 4,240,000 | ||||||
Trade and other receivables | 401,000 | ||||||
Inventories | 148,000 | ||||||
Property, plant and equipment | 3,881,000 | ||||||
Trade payables and other payables | (180,000) | ||||||
Lease liabilities | 3,585,000 | ||||||
Deferred income tax liabilities | (412,000) | ||||||
Current income tax liabilities | (99,000) | ||||||
Non-controlling interest | (1,392,000) | ||||||
Net identifiable assets acquired | 3,247,000 | ||||||
Add: goodwill (Note 14) | 9,961,000 | ||||||
Net assets acquired | 13,208,000 | ||||||
Cash flows from investing activities | |||||||
Cash consideration | (5,820,000) | ||||||
Cash and cash equivalents | ¥ 245,000 | ||||||
Revenue since acquisition | ¥ 1,690,000 | ||||||
Net profit (loss) since acquisition | ¥ 1,972,000 | ||||||
Pro forma revenue | 903,306,000 | ||||||
Pro forma profit/(loss) after tax | ¥ (246,715,000) |
Business combination - Guangzho
Business combination - Guangzhou Pengai Xiuqi (Details) - CNY (¥) | Oct. 14, 2021 | Jan. 01, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Net outflow of cash and cash equivalents | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ (7,273,000) | ¥ (69,951,000) | ¥ (28,880,000) | ||
Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. | |||||
Business combination | |||||
Percentage of voting rights acquired | 73.00% | ||||
Consideration paid | ¥ 7,300,000 | ||||
Goodwill | 6,300,000 | ||||
Assets and liabilities recognised as a result of the acquisition | |||||
Trade and other receivables | 100,000 | ||||
Inventories | 400,000 | ||||
Property, plant and equipment | 500,000 | ||||
Net identifiable assets acquired | 1,000,000 | ||||
Add: goodwill (Note 14) | 6,300,000 | ||||
Net assets acquired | 7,300,000 | ||||
Net outflow of cash and cash equivalents | |||||
Cash consideration | (7,300,000) | ||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | (7,300,000) | ||||
Revenue since acquisition | 3,797,000 | ||||
Net profit (loss) since acquisition | ¥ 333,000 | ||||
Pro forma revenue | ¥ 3,797,000 | ||||
Pro forma profit/(loss) after tax | ¥ (333,000) |
Business combination - Beijing
Business combination - Beijing AomeiYixin (Details) - Beijing Aomei | Jan. 01, 2021CNY (¥) |
Business combination | |
Percentage of voting rights acquired | 95.00% |
Total purchase consideration | ¥ 11,500,000 |
Goodwill | 8,397,000 |
Assets and liabilities recognised as a result of the acquisition | |
Cash and cash equivalents | 27,000 |
Intangible assets | 2,419,000 |
Trade and other receivables | 1,113,000 |
Inventories | 57,000 |
Property, plant and equipment | 2,743,000 |
Trade payables and other payables | (122,000) |
Lease liabilities | 2,362,000 |
Deferred income tax liabilities | (600,000) |
Current income tax liabilities | (9,000) |
Non-controlling interest | (163,000) |
Net identifiable assets acquired | 3,103,000 |
Add: goodwill (Note 14) | 8,397,000 |
Net assets acquired | 11,500,000 |
Cash flows from investing activities | |
Cash and cash equivalents | 27,000 |
Net inflow of cash and cash equivalents included in cash flows from investing activities | (27,000) |
Revenue since acquisition | 4,877,000 |
Net profit (loss) since acquisition | ¥ 7,566,000 |
Disposals of subsidiaries - Dis
Disposals of subsidiaries - Disposals of subsidiaries financial impacts (Details) - CNY (¥) | Dec. 25, 2020 | Dec. 09, 2020 | Dec. 08, 2020 | Dec. 31, 2020 | May 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Net assets disposed of: | |||||||||
Property, plant and equipment. | ¥ 531,941,000 | ¥ 358,749,000 | ¥ 531,941,000 | ¥ 519,323,000 | |||||
Deferred tax assets | 32,646,000 | 45,765,000 | 32,646,000 | 19,900,000 | |||||
Inventories | 33,336,000 | 30,566,000 | 33,336,000 | ||||||
Other receivables, deposits and prepayments | 98,715,000 | 31,692,000 | 98,715,000 | ||||||
Cash and cash equivalents | 44,384,000 | 39,289,000 | 44,384,000 | 154,490,000 | |||||
Income tax payables | (13,194,000) | (9,018,000) | (13,194,000) | ||||||
Borrowings | (135,814,000) | (156,208,000) | (135,814,000) | ||||||
Contract liabilities | (8,639,000) | (236,476,000) | (8,639,000) | ||||||
Lease liabilities | (214,851,000) | (134,032,000) | (214,851,000) | ¥ (201,881,000) | |||||
Deferred income tax liabilities | (14,651,000) | (14,651,000) | ¥ (12,829,000) | ||||||
Trade payables | (33,654,000) | (31,256,000) | (33,654,000) | ||||||
Accruals, other payables and provisions | (68,783,000) | (72,848,000) | (68,783,000) | ||||||
Non-controlling interests | (34,840,000) | 29,755,000 | (34,840,000) | ||||||
Net assets of subsidiary | (186,422,000) | ||||||||
Loss on disposal of subsidiary | ¥ 802,000 | ||||||||
Yantai Pengai Jiayan | |||||||||
Disposals of subsidiaries | |||||||||
Proportion of ownership interest disposed off | 12.00% | ||||||||
Proportion of equity interest held (as a percent) | 68.00% | 80.00% | |||||||
Guangdong Hanfei | |||||||||
Net assets disposed of: | |||||||||
Loss on disposal of subsidiary | 13,564,000 | ||||||||
Satisfied by: | |||||||||
Cash consideration | 61,000,000 | ||||||||
Settlement of pre-existing balance | 41,000,000 | ||||||||
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | |||||||||
Cash received | ¥ 20,000,000 | ||||||||
Disposals of subsidiaries | Guangdong Hanfei | |||||||||
Net assets disposed of: | |||||||||
Property, plant and equipment. | ¥ 165,711,000 | ||||||||
Intangible assets | 58,541,000 | ||||||||
Goodwill | 102,971,000 | ||||||||
Deferred tax assets | 575,000 | ||||||||
Inventories | 9,472,000 | ||||||||
Trade and other receivables | 57,249,000 | ||||||||
Cash and cash equivalents | 828,000 | ||||||||
Income tax payables | (11,464,000) | ||||||||
Trade payables and other payables | (90,143,000) | ||||||||
Borrowings | (4,705,000) | ||||||||
Contract liabilities | (7,477,000) | ||||||||
Lease liabilities | (132,385,000) | ||||||||
Non-controlling interests | (27,961,000) | ||||||||
Net assets of subsidiary | 121,212,000 | ||||||||
Loss on disposal of subsidiary | (55,387,000) | ||||||||
Consideration | 65,825,000 | ||||||||
Satisfied by: | |||||||||
Cash consideration | 61,000,000 | ||||||||
Settlement of pre-existing balance | 4,825,000 | ||||||||
Total consideration | 65,825,000 | ||||||||
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | |||||||||
Cash received | 20,000,000 | ||||||||
Cash and cash equivalents disposed of | (828,000) | ||||||||
Net cash inflow in respect of disposal of subsidiary | ¥ 19,172,000 | ||||||||
Disposals of subsidiaries | Yinchuanshi Pengai Yueji Aesthetic Medical Clinic Co. Ltd. | |||||||||
Net assets disposed of: | |||||||||
Property, plant and equipment. | ¥ 3,910,000 | ||||||||
Intangible assets | 17,000 | ||||||||
Deferred tax assets | 175,000 | ||||||||
Inventories | 66,000 | ||||||||
Trade and other receivables | 97,000 | ||||||||
Income tax receivables | 75,000 | ||||||||
Cash and cash equivalents | 1,000 | ||||||||
Trade payables and other payables | (263,000) | ||||||||
Contract liabilities | (12,000) | ||||||||
Lease liabilities | (1,896,000) | ||||||||
Non-controlling interests | (618,000) | ||||||||
Net assets of subsidiary | 1,552,000 | ||||||||
Loss on disposal of subsidiary | (729,000) | ||||||||
Satisfied by: | |||||||||
Cash consideration | 823,000 | ||||||||
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | |||||||||
Cash received | 823,000 | ||||||||
Cash and cash equivalents disposed of | (1,000) | ||||||||
Net cash inflow in respect of disposal of subsidiary | ¥ 822,000 | ||||||||
Disposals of subsidiaries | Certain Subsidiaries | |||||||||
Net assets disposed of: | |||||||||
Property, plant and equipment. | 2,949,000 | ||||||||
Intangible assets | 10,903,000 | ||||||||
Inventories | 3,462,000 | ||||||||
Other receivables, deposits and prepayments | 9,911,000 | ||||||||
Cash and cash equivalents | 1,329,000 | ||||||||
Income tax payables | (18,410,000) | ||||||||
Trade payables and other payables | (22,047,000) | ||||||||
Contract liabilities | (304,000) | ||||||||
Non-controlling interests | (37,565,000) | ||||||||
Net assets of subsidiary | (49,772,000) | ||||||||
Loss on disposal of subsidiary | 37,688,000 | ||||||||
Consideration | (12,084,000) | ||||||||
Satisfied by: | |||||||||
Settlement of pre-existing balance | (12,084,000) | ||||||||
Total consideration | (12,084,000) | ||||||||
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary | |||||||||
Cash and cash equivalents disposed of | (1,329,000) | ||||||||
Net cash inflow in respect of disposal of subsidiary | ¥ (1,329,000) |
Disposals of subsidiaries (Deta
Disposals of subsidiaries (Details) - CNY (¥) | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Gain on disposal of subsidiary | ¥ 802,000 | ||
Guangdong Hanfei | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Cash consideration | ¥ 61,000,000 | ||
Cash received | 20,000,000 | ||
Settlement of pre-existing balance | ¥ 41,000,000 | ||
Derivative financial assets | ¥ 36,175,000 | 36,175,000 | |
Gain on disposal of subsidiary | 13,564,000 | ||
Guangdong Hanfei | Disposal of subsidiary | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Cash received | ¥ 41,000,000 | ||
Derivative financial assets | 36,175,000 | ||
Guangdong Hanfei | Disposal of subsidiary | Xian New Pengai Yueji Medical Aesthetic Clinic Co Ltd Member | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Gain on disposal of subsidiary | 41,021,000 | ||
Guangdong Hanfei | Disposal of subsidiary | Shenzhen Yueji | |||
Disclosure of analysis of single amount of discontinued operations [line items] | |||
Gain on disposal of subsidiary | ¥ 55,387,000,000 |
Transactions with non interesti
Transactions with non interesting - Non interesting interests and the impact (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Total impact of transactions with non-controlling interests | ¥ 1,434 | ¥ 2,635 | ¥ (7,824) |
Reserves | |||
Total impact of transactions with non-controlling interests | 3,020 | 2,640 | (5,248) |
Non-controlling interests | |||
Total impact of transactions with non-controlling interests | (1,740) | (5) | (2,576) |
Huizhou Pengai | |||
Acquisition of additional interests in subsidiaries | (360) | ||
Huizhou Pengai | Reserves | |||
Acquisition of additional interests in subsidiaries | (220) | ||
Huizhou Pengai | Non-controlling interests | |||
Acquisition of additional interests in subsidiaries | (140) | ||
Changsha Pengai | |||
Acquisition of additional interests in subsidiaries | (315) | (1,050) | |
Disposal of interests in subsidiaries without loss of control | 1,575 | ||
Changsha Pengai | Reserves | |||
Acquisition of additional interests in subsidiaries | (715) | (539) | |
Disposal of interests in subsidiaries without loss of control | 3,575 | ||
Changsha Pengai | Non-controlling interests | |||
Acquisition of additional interests in subsidiaries | 400 | (511) | |
Disposal of interests in subsidiaries without loss of control | ¥ (2,000) | ||
Chongqing Pengai | |||
Acquisition of additional interests in subsidiaries | (1,250) | ||
Chongqing Pengai | Reserves | |||
Acquisition of additional interests in subsidiaries | (867) | ||
Chongqing Pengai | Non-controlling interests | |||
Acquisition of additional interests in subsidiaries | (383) | ||
Guangzhou Pengai | |||
Acquisition of additional interests in subsidiaries | (3,008) | ||
Disposal of interests in subsidiaries without loss of control | 2,760 | 940 | |
Guangzhou Pengai | Reserves | |||
Acquisition of additional interests in subsidiaries | (1,946) | ||
Disposal of interests in subsidiaries without loss of control | 2,613 | 642 | |
Guangzhou Pengai | Non-controlling interests | |||
Acquisition of additional interests in subsidiaries | (1,062) | ||
Disposal of interests in subsidiaries without loss of control | 147 | 298 | |
Hangzhou Pengai | |||
Acquisition of additional interests in subsidiaries | (4,906) | ||
Hangzhou Pengai | Reserves | |||
Acquisition of additional interests in subsidiaries | (2,389) | ||
Hangzhou Pengai | Non-controlling interests | |||
Acquisition of additional interests in subsidiaries | (2,517) | ||
Nanchang Pengai | |||
Disposal of interests in subsidiaries without loss of control | 950 | ||
Nanchang Pengai | Reserves | |||
Disposal of interests in subsidiaries without loss of control | (161) | ||
Nanchang Pengai | Non-controlling interests | |||
Disposal of interests in subsidiaries without loss of control | 1,111 | ||
Yantai Pengai Jiayan | |||
Disposal of interests in subsidiaries without loss of control | 500 | ||
Yantai Pengai Jiayan | Reserves | |||
Disposal of interests in subsidiaries without loss of control | 12 | ||
Yantai Pengai Jiayan | Non-controlling interests | |||
Disposal of interests in subsidiaries without loss of control | ¥ 488 | ||
Shanghai Pengai | |||
Acquisition of additional interests in subsidiaries | (125) | ||
Shanghai Pengai | Reserves | |||
Acquisition of additional interests in subsidiaries | 92 | ||
Shanghai Pengai | Non-controlling interests | |||
Acquisition of additional interests in subsidiaries | (217) | ||
Shanghai Jiahong | Reserves | |||
Disposal of interests in subsidiaries without loss of control | (65) | ||
Shanghai Jiahong | Non-controlling interests | |||
Disposal of interests in subsidiaries without loss of control | ¥ 65 |
Transactions with non-control_3
Transactions with non-controlling interests - Guangzhou Pengai (Details) | Sep. 13, 2021CNY (¥) | Sep. 13, 2021USD ($) | Sep. 12, 2021 | Dec. 07, 2020CNY (¥) | Dec. 06, 2020 | Mar. 25, 2020CNY (¥) | Mar. 24, 2020 | Dec. 31, 2019CNY (¥) | Dec. 18, 2019CNY (¥) | Jun. 24, 2019CNY (¥) | Jun. 23, 2019 | Jun. 01, 2019CNY (¥) | May 27, 2019 | May 16, 2019CNY (¥) | May 15, 2019 | Jun. 24, 2018 | Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) |
Less: consideration received from non-controlling interest | ¥ 940,000 | ¥ 2,068,000 | |||||||||||||||||
Guangzhou Pengai | |||||||||||||||||||
Carrying amount of non-controlling interests acquired | ¥ (1,946,000) | ¥ (1,946,000) | |||||||||||||||||
Consideration paid for non-controlling interests | ¥ (2,760,000) | (3,008,000) | ¥ (940,000,000) | ||||||||||||||||
Excess of consideration paid to non controlling interest recognised within equity | (1,062,000) | ||||||||||||||||||
Percentage of voting rights acquired | 20.00% | 5.00% | |||||||||||||||||
Proportion of equity interest held (as a percent) | 76.00% | 96.00% | 91.00% | 96.00% | 96.00% | 96.00% | 76.00% | 76.00% | |||||||||||
Carrying amount of non-controlling interests disposed of | (642,000) | ¥ (147,000) | (642,000) | ||||||||||||||||
Less: consideration received from non-controlling interest | 2,760,000 | 940,000 | |||||||||||||||||
Gain on disposal within equity | ¥ (2,613,000) | (298,000) | |||||||||||||||||
Guangzhou Pengai | Equity Interest Purchase | |||||||||||||||||||
Equity interests disposed off (as a percent) | 5.00% | 11.00% | |||||||||||||||||
Guangzhou Pengai | Equity Interest Sale | |||||||||||||||||||
Proportion of equity interest held (as a percent) | 89.00% | 94.00% | |||||||||||||||||
Less: consideration received from non-controlling interest | ¥ 500,000 | ||||||||||||||||||
Equity interests disposed off (as a percent) | 85.00% | 5.00% | 96.00% | ||||||||||||||||
Huizhou Pengai | |||||||||||||||||||
Carrying amount of non-controlling interests acquired | ¥ 140,000 | ||||||||||||||||||
Consideration paid for non-controlling interests | ¥ (360,000) | (360,000) | |||||||||||||||||
Excess of consideration paid to non controlling interest recognised within equity | $ (2) | ¥ 220,000 | |||||||||||||||||
Proportion of equity interest held (as a percent) | 67.50% | 67.50% | 65.50% | 67.50% | 67.50% | ||||||||||||||
Shanghai Pengai | |||||||||||||||||||
Carrying amount of non-controlling interests acquired | ¥ 92,000 | ||||||||||||||||||
Consideration paid for non-controlling interests | (125,000) | ||||||||||||||||||
Excess of consideration paid to non controlling interest recognised within equity | ¥ (217,000) | ||||||||||||||||||
Proportion of equity interest held (as a percent) | 85.00% | 80.00% | 80.00% | 80.00% | |||||||||||||||
Less: consideration received from non-controlling interest | ¥ 125,000 | ||||||||||||||||||
Shanghai Pengai | Equity Interest Sale | |||||||||||||||||||
Equity interests disposed off (as a percent) | 5.00% | ||||||||||||||||||
Nanchang Pengai | |||||||||||||||||||
Consideration paid for non-controlling interests | ¥ (950,000) | ||||||||||||||||||
Percentage of voting rights acquired | 19.00% | ||||||||||||||||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% | |||||||||||||||||
Carrying amount of non-controlling interests disposed of | ¥ 161,000 | 161,000 | |||||||||||||||||
Less: consideration received from non-controlling interest | 950,000 | ||||||||||||||||||
Gain on disposal within equity | ¥ 1,111,000 |
Transactions with non-control_4
Transactions with non-controlling interests - Hangzhou Pengai (Details) - CNY (¥) | Sep. 24, 2021 | Sep. 23, 2021 | Dec. 18, 2019 | Dec. 10, 2019 | Dec. 09, 2019 | Jun. 24, 2019 | Jun. 12, 2019 | Jun. 11, 2019 | Jun. 01, 2019 | May 31, 2019 | May 28, 2019 | May 27, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Consideration paid to non-controlling interests | ¥ (940,000) | ¥ (2,068,000) | |||||||||||||
Hangzhou Pengai | |||||||||||||||
Consideration paid to non-controlling interests | ¥ (4,906,000) | ||||||||||||||
Equity interests disposed off (as a percent) | 20.00% | ||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | 80.00% | 100.00% | 80.00% | |||||||||||
Chongqing Pengai | |||||||||||||||
Excess of consideration paid to non-controlling interest recognised within equity | ¥ (383,000) | ||||||||||||||
Equity interests disposed off (as a percent) | 5.00% | ||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | 95.00% | 100.00% | ||||||||||||
Changsha Pengai | |||||||||||||||
Consideration paid to non-controlling interests | ¥ (2,000,000) | ||||||||||||||
Consideration paid to non-controlling interests | (1,575,000) | ||||||||||||||
Excess of consideration paid to non-controlling interest recognised within equity | ¥ (3,575,000) | (511,000) | |||||||||||||
Equity interests disposed off (as a percent) | 15.00% | ||||||||||||||
Proportion of ownership interest in subsidiary | 3.00% | 15.00% | 89.00% | 79.00% | 70.00% | 77.00% | 89.00% | ||||||||
Nanchang Pengai | |||||||||||||||
Consideration paid to non-controlling interests | (161,000) | ||||||||||||||
Consideration paid to non-controlling interests | (950,000) | ||||||||||||||
Excess of consideration paid to non-controlling interest recognised within equity | ¥ (1,111,000) | ||||||||||||||
Proportion of ownership interest in subsidiary | 51.00% | 51.00% |
Transactions with non-control_5
Transactions with non-controlling interests - Chongqing Pengai (Details) - CNY (¥) | Jun. 01, 2019 | May 28, 2019 | May 27, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Chongqing Pengai | |||||
Carrying amount of non-controlling interests acquired | ¥ 867,000 | ||||
Consideration paid for non-controlling interests | ¥ (1,250,000) | ||||
Equity interests disposed off (as a percent) | 5.00% | ||||
Proportion of equity interest held (as a percent) | 100.00% | 95.00% | 100.00% | ||
Nanchang Pengai | |||||
Consideration paid for non-controlling interests | ¥ (950,000) | ||||
Percentage of voting rights acquired | 19.00% | ||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% |
Transactions with non-control_6
Transactions with non-controlling interests - Changsha Pengai (Details) | Sep. 24, 2021CNY (¥) | Sep. 24, 2021USD ($) | Sep. 23, 2021 | Mar. 25, 2020CNY (¥) | Mar. 24, 2020 | Dec. 18, 2019CNY (¥) | Dec. 10, 2019CNY (¥) | Dec. 09, 2019 | Jun. 24, 2019CNY (¥) | Jun. 01, 2019CNY (¥) | May 31, 2019 | May 28, 2019CNY (¥) | May 27, 2019 | Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) |
Less: consideration received from non-controlling interest | ¥ 940,000 | ¥ 2,068,000 | ||||||||||||||
Changsha Pengai | ||||||||||||||||
Carrying amount of non-controlling interests acquired | ¥ (400,000) | ¥ 539,000 | ||||||||||||||
Consideration paid for non-controlling interests | $ (315,000) | ¥ (1,050,000) | (315,000) | (1,050,000) | ||||||||||||
Excess of consideration paid to non controlling interest recognised within equity | ¥ (715,000) | |||||||||||||||
Percentage of voting rights acquired | 10.00% | |||||||||||||||
Proportion of equity interest held (as a percent) | 3.00% | 3.00% | 15.00% | 89.00% | 79.00% | 70.00% | 77.00% | 89.00% | ||||||||
Carrying amount of non-controlling interests disposed of | ¥ 2,000,000 | |||||||||||||||
Less: consideration received from non-controlling interest | 1,575,000 | |||||||||||||||
Gain on disposal within equity | ¥ 3,575,000 | 511,000 | ||||||||||||||
Equity interests disposed off (as a percent) | 15.00% | 15.00% | ||||||||||||||
Consideration paid for non-controlling interests | $ 315,000 | ¥ 1,050,000 | ¥ 315,000 | 1,050,000 | ||||||||||||
Shanghai Pengai | ||||||||||||||||
Carrying amount of non-controlling interests acquired | ¥ 92,000 | |||||||||||||||
Consideration paid for non-controlling interests | (125,000) | |||||||||||||||
Excess of consideration paid to non controlling interest recognised within equity | ¥ (217,000) | |||||||||||||||
Proportion of equity interest held (as a percent) | 85.00% | 80.00% | 80.00% | 80.00% | ||||||||||||
Less: consideration received from non-controlling interest | ¥ 125,000 | |||||||||||||||
Consideration paid for non-controlling interests | ¥ 125,000 | |||||||||||||||
Chongqing Pengai | ||||||||||||||||
Carrying amount of non-controlling interests acquired | 867,000 | |||||||||||||||
Consideration paid for non-controlling interests | (1,250,000) | |||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 95.00% | 100.00% | |||||||||||||
Gain on disposal within equity | 383,000 | |||||||||||||||
Equity interests disposed off (as a percent) | 5.00% | |||||||||||||||
Consideration paid for non-controlling interests | 1,250,000 | |||||||||||||||
Nanchang Pengai | ||||||||||||||||
Consideration paid for non-controlling interests | ¥ (950,000) | |||||||||||||||
Percentage of voting rights acquired | 19.00% | |||||||||||||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% | ||||||||||||||
Carrying amount of non-controlling interests disposed of | 161,000 | |||||||||||||||
Less: consideration received from non-controlling interest | 950,000 | |||||||||||||||
Gain on disposal within equity | ¥ 1,111,000 | |||||||||||||||
Consideration paid for non-controlling interests | ¥ 950,000 | |||||||||||||||
Equity Interest Purchase | Changsha Pengai | ||||||||||||||||
Percentage of voting rights acquired | 3.00% | |||||||||||||||
Equity Interest Purchase | Chongqing Pengai | ||||||||||||||||
Consideration paid for non-controlling interests | ¥ (1,250,000) | |||||||||||||||
Consideration paid for non-controlling interests | ¥ 1,250,000 | |||||||||||||||
Equity Interest Sale | Shanghai Pengai | ||||||||||||||||
Equity interests disposed off (as a percent) | 5.00% |
Transactions with non-control_7
Transactions with non-controlling interests - Nanchang Pengai (Details) - CNY (¥) | Dec. 18, 2019 | Jun. 24, 2019 | Jun. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Less: consideration received from non-controlling interest | ¥ 940,000 | ¥ 2,068,000 | |||
Nanchang Pengai | |||||
Carrying amount of non-controlling interests disposed of | ¥ 161,000 | ||||
Less: consideration received from non-controlling interest | 950,000 | ||||
Gain on disposal within equity | ¥ 1,111,000 | ||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% |
Transactions with non-control_8
Transactions with non-controlling interests - Yantai Pengai (Details) - CNY (¥) | Dec. 09, 2020 | Dec. 08, 2020 | Dec. 07, 2020 | Dec. 06, 2020 | Dec. 18, 2019 | Jun. 24, 2019 | Jun. 23, 2019 | Jun. 01, 2019 | May 27, 2019 | Jun. 24, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Less: consideration received from non-controlling interest | ¥ 940,000 | ¥ 2,068,000 | |||||||||||
Yantai Pengai Jiayan | |||||||||||||
Carrying amount of non-controlling interests disposed of | ¥ (12,000) | ||||||||||||
Less: consideration received from non-controlling interest | ¥ 864,000 | 500,000 | |||||||||||
Gain on disposal within equity | 488,000 | ||||||||||||
Equity interests disposed off (as a percent) | 12.00% | ||||||||||||
Proportion of equity interest held (as a percent) | 68.00% | 80.00% | |||||||||||
Guangzhou Pengai | |||||||||||||
Carrying amount of non-controlling interests disposed of | ¥ (147,000) | (642,000) | |||||||||||
Less: consideration received from non-controlling interest | 2,760,000 | 940,000 | |||||||||||
Gain on disposal within equity | ¥ (2,613,000) | (298,000) | |||||||||||
Proportion of equity interest held (as a percent) | 76.00% | 96.00% | 91.00% | 96.00% | 96.00% | 96.00% | 76.00% | 76.00% | |||||
Nanchang Pengai | |||||||||||||
Carrying amount of non-controlling interests disposed of | 161,000 | ||||||||||||
Less: consideration received from non-controlling interest | 950,000 | ||||||||||||
Gain on disposal within equity | ¥ 1,111,000 | ||||||||||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% | |||||||||||
Shanghai Jiahong | |||||||||||||
Carrying amount of non-controlling interests disposed of | ¥ (65,000) | ||||||||||||
Gain on disposal within equity | ¥ (65,000) |
Transactions with non-control_9
Transactions with non-controlling interests - Shanghai Pengai (Details) - CNY (¥) ¥ in Thousands | Mar. 25, 2020 | Mar. 24, 2020 | Jun. 12, 2019 | Jun. 11, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Shanghai Pengai | |||||||
Carrying amount of non-controlling interests acquired | ¥ 92 | ||||||
Consideration paid for non-controlling interests | (125) | ||||||
Gain on acquisition within equity | ¥ 217 | ||||||
Proportion of ownership interest held | 85.00% | 80.00% | 80.00% | 80.00% | |||
Hangzhou Pengai | |||||||
Carrying amount of non-controlling interests acquired | ¥ (2,389) | ||||||
Consideration paid for non-controlling interests | (4,906) | ||||||
Gain on acquisition within equity | ¥ 2,517 | ||||||
Proportion of ownership interest held | 100.00% | 80.00% | 100.00% | 80.00% |
Transactions with non-contro_10
Transactions with non-controlling interests - Shanghai Jiahong (Details) - CNY (¥) | Dec. 18, 2019 | Jun. 24, 2019 | Jun. 12, 2019 | Jun. 11, 2019 | Dec. 31, 2021 | Dec. 31, 2020 |
Less: consideration received from non-controlling interest | ¥ 940,000 | ¥ 2,068,000 | ||||
Shanghai Jiahong | ||||||
Carrying amount of non-controlling interests disposed of | ¥ (65,000) | |||||
Gain on disposal within equity | ¥ 65,000 | |||||
Hangzhou Pengai | ||||||
Less: consideration received from non-controlling interest | ¥ 4,906,000 | |||||
Equity interests disposed off (as a percent) | 20.00% | |||||
Proportion of ownership interest held | 100.00% | 80.00% | 100.00% | 80.00% |
Transactions with non-contro_11
Transactions with non-controlling interests - Huizhou Pengai (Details) | Sep. 13, 2021CNY (¥) | Sep. 13, 2021USD ($) | Sep. 12, 2021 | Jun. 01, 2019CNY (¥) | Dec. 31, 2021CNY (¥) | Dec. 31, 2020 |
Huizhou Pengai | ||||||
Carrying amount of non-controlling interests acquired | ¥ 140,000 | |||||
Consideration paid for non-controlling interests | ¥ 360,000 | 360,000 | ||||
Gain on acquisition within equity | $ 2 | ¥ (220,000) | ||||
Proportion of equity interest held (as a percent) | 67.50% | 67.50% | 65.50% | 67.50% | 67.50% | |
Nanchang Pengai | ||||||
Consideration paid for non-controlling interests | ¥ 950,000 | |||||
Percentage of voting rights acquired | 19.00% | |||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% |
Share based compensation - Shar
Share based compensation - Share Incentive Plan (Details) | Jun. 01, 2019itemshares |
Share-based compensation | |
Ordinary shares reserved for issued | shares | 5,940,452 |
Percentage of share options vesting one year from date of grant | 25.00% |
Percentage of share options vesting in equal monthly installments after one year from date of grant | 75.00% |
Number of equal monthly vesting installments after one year from date of grant | item | 36 |
Top of Range | |
Share-based compensation | |
Stock option term | 10 years |
Share based compensation - Opti
Share based compensation - Option Activity (Details) | 12 Months Ended | |||
Dec. 31, 2021USD ($) | Dec. 31, 2021CNY (¥)¥ / shares | Dec. 31, 2020USD ($) | Dec. 31, 2020CNY (¥)¥ / shares | |
Share based compensation | ||||
Number of options outstanding at beginning of year | 2,493,404 | 5,940,452 | ||
Number of options vested | (1,222,959) | (3,447,048) | ||
Number of options outstanding at end of year | 1,270,445 | 2,493,404 | ||
Weighted average exercise price of share options outstanding at beginning of period | ¥ / shares | ¥ 0.007 | ¥ 0.007 | ||
Weighted average exercise price of share options outstanding at end of period | ¥ / shares | ¥ 0.007 | ¥ 0.007 | ||
Weighted average grant date fair value of share options outstanding at beginning of year | ¥ 28.01 | $ 28.01 | ||
Weighted average grant date fair value of share options outstanding at end of year | $ 28.01 | ¥ 28.01 |
Share based compensation - Op_2
Share based compensation - Option Fair Value Assumptions (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Share based compensation | |
Risk free interest rate | 2.20% |
Expected dividend yield | 0.00% |
Expected volatility | 57.87% |
Exercise multiples | 2.2 |
Contractual life | 10 |
Share based compensation - Addi
Share based compensation - Additional Information (Details) | 12 Months Ended | |||
Dec. 31, 2021CNY (¥) | Dec. 31, 2020CNY (¥)USD ($) | Dec. 31, 2019CNY (¥)USD ($) | Dec. 31, 2021USD ($)$ / shares | |
Share based compensation | ||||
Exercise price | $ / shares | $ 0.001 | |||
Number of share options outstanding | $ | 2,493,404 | 5,940,452 | 1,270,445 | |
Weighted average remaining contractual life of options outstanding at end of period | 7 years 5 months 1 day | |||
Share-based compensation expenses | ¥ | ¥ 35,463,000 | ¥ 78,967,000 | ¥ 47,788,000 |
Summarised financial informat_3
Summarised financial information of subsidiaries with material non-controlling interests - Summarised balance sheets (Details) - CNY (¥) | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Current | |||
Liabilities | ¥ (541,657,000) | ¥ (301,688,000) | |
Total current net assets/(liabilities) | (427,952,000) | ||
Noncurrent | |||
Assets | 463,230,000 | 831,922,000 | |
Liabilities | (221,705,000) | ¥ (310,662,000) | |
Net assets/(liabilities) | ¥ (186,422,000) | ||
Subsidiaries with material non-controlling interests | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Proportion of non-controlling interests in subsidiaries with material non-controlling interests to total non-controlling interests (as a percent) | 21.00% | 84.00% | 88.00% |
Huizhou Pengai | |||
Current | |||
Assets | ¥ 17,024,000 | ¥ 17,386,000 | ¥ 17,897,000 |
Liabilities | (15,541,000) | (3,655,000) | (4,432,000) |
Total current net assets/(liabilities) | 1,483,000 | 13,731,000 | 13,465,000 |
Noncurrent | |||
Assets | 3,868,000 | 2,046,000 | 2,429,000 |
Liabilities | (733,000) | ||
Total noncurrent net assets | 3,135,000 | 2,046,000 | 2,429,000 |
Net assets/(liabilities) | 4,618,000 | 15,777,000 | 15,894,000 |
Shanghai Pengai | |||
Current | |||
Assets | 13,772,000 | 13,641,000 | 17,168,000 |
Liabilities | (46,764,000) | (15,626,000) | (14,387,000) |
Total current net assets/(liabilities) | (32,992,000) | (1,985,000) | 2,781,000 |
Noncurrent | |||
Assets | 40,871,000 | 36,302,000 | 3,656,000 |
Liabilities | (29,040,000) | (31,607,000) | |
Total noncurrent net assets | 11,831,000 | 4,695,000 | 3,656,000 |
Net assets/(liabilities) | (21,161,000) | 2,710,000 | 6,437,000 |
Chengdu Yueji | |||
Current | |||
Assets | 5,926,000 | 4,183,000 | |
Liabilities | (14,033,000) | (6,267,000) | |
Total current net assets/(liabilities) | (8,107,000) | (2,084,000) | |
Noncurrent | |||
Assets | 10,303,000 | 11,803,000 | |
Liabilities | (4,929,000) | (5,689,000) | |
Total noncurrent net assets | 5,374,000 | 6,114,000 | |
Net assets/(liabilities) | (2,733,000) | 4,030,000 | |
Pengai Xiuqi | |||
Current | |||
Assets | 10,252,000 | 9,140,000 | 5,060,000 |
Liabilities | (33,393,000) | (11,464,000) | (9,250,000) |
Total current net assets/(liabilities) | (23,141,000) | (2,324,000) | (4,190,000) |
Noncurrent | |||
Assets | 26,429,000 | 22,437,000 | 27,838,000 |
Liabilities | (2,262,000) | ||
Total noncurrent net assets | 26,429,000 | 22,437,000 | 25,576,000 |
Net assets/(liabilities) | 3,288,000 | 20,113,000 | 21,386,000 |
Haikou Pengai | |||
Current | |||
Assets | 4,546,000 | 3,033,000 | 2,226,000 |
Liabilities | (23,484,000) | (14,405,000) | (12,738,000) |
Total current net assets/(liabilities) | (18,938,000) | (11,372,000) | (10,512,000) |
Noncurrent | |||
Assets | 18,964,000 | 22,783,000 | 25,174,000 |
Liabilities | (5,808,000) | (6,144,000) | (6,458,000) |
Total noncurrent net assets | 13,156,000 | 16,639,000 | 18,716,000 |
Net assets/(liabilities) | (5,782,000) | 5,267,000 | 8,204,000 |
Shenzhen Yueji | |||
Current | |||
Assets | 16,593,000 | 17,627,000 | |
Liabilities | (19,481,000) | (20,648,000) | |
Total current net assets/(liabilities) | (2,888,000) | (3,021,000) | |
Noncurrent | |||
Assets | 4,335,000 | 9,153,000 | |
Total noncurrent net assets | 4,335,000 | 9,153,000 | |
Net assets/(liabilities) | 1,447,000 | 6,132,000 | |
Shenzhen Yuexin | |||
Current | |||
Assets | 2,352,000 | 2,125,000 | |
Liabilities | (22,614,000) | (21,540,000) | |
Total current net assets/(liabilities) | (20,262,000) | (19,415,000) | |
Noncurrent | |||
Assets | 29,033,000 | 33,742,000 | |
Liabilities | (14,019,000) | (16,256,000) | |
Total noncurrent net assets | 15,014,000 | 17,486,000 | |
Net assets/(liabilities) | (5,248,000) | (1,929,000) | |
Nanchang Pengai | |||
Current | |||
Assets | 3,985,000 | 4,426,000 | |
Liabilities | (1,133,000) | (1,305,000) | |
Total current net assets/(liabilities) | 2,852,000 | 3,121,000 | |
Noncurrent | |||
Assets | 780,000 | 893,000 | |
Total noncurrent net assets | 780,000 | 893,000 | |
Net assets/(liabilities) | 3,632,000 | 4,014,000 | |
Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd | |||
Current | |||
Assets | 3,753,000 | 14,806,000 | 13,614,000 |
Liabilities | (31,845,000) | (24,410,000) | (23,564,000) |
Total current net assets/(liabilities) | (28,092,000) | (9,604,000) | (9,950,000) |
Noncurrent | |||
Assets | 33,234,000 | 35,387,000 | 38,441,000 |
Liabilities | (17,086,000) | (17,748,000) | (18,299,000) |
Total noncurrent net assets | 16,148,000 | 17,639,000 | 20,142,000 |
Net assets/(liabilities) | ¥ (11,944,000) | 8,035,000 | 10,192,000 |
Ninghai Pengai | |||
Current | |||
Assets | 1,055,000 | 1,696,000 | |
Liabilities | (1,397,000) | (1,060,000) | |
Total current net assets/(liabilities) | (342,000) | 636,000 | |
Noncurrent | |||
Assets | 3,342,000 | 3,856,000 | |
Liabilities | (88,000) | (424,000) | |
Total noncurrent net assets | 3,254,000 | 3,432,000 | |
Net assets/(liabilities) | ¥ 2,912,000 | ¥ 4,068,000 |
Summarised financial informat_4
Summarised financial information of subsidiaries with material non-controlling interests - Summarised statements of comprehensive income (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | ¥ 645,593 | ¥ 901,573 | ¥ 869,050 |
Profit/(loss) before income tax | (681,314) | (259,492) | 152,364 |
Income tax (expense)/credit | 11,798 | 12,587 | (14,036) |
Profit/(loss) and total comprehensive income/(loss) for the year | (668,942) | (247,636) | 139,000 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (82,897) | (11,426) | 2,019 |
Huizhou Pengai | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 21,561 | 26,852 | 35,184 |
Profit/(loss) before income tax | (8,222) | 2,743 | 5,170 |
Income tax (expense)/credit | 297 | (685) | (1,293) |
Profit/(loss) and total comprehensive income/(loss) for the year | (7,925) | 2,058 | 3,878 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (2,734) | 710 | 1,338 |
Dividend paid to noncontrolling interests | 1,116 | 750 | 1,478 |
Shanghai Pengai | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 21,674 | 29,839 | 33,834 |
Profit/(loss) before income tax | (25,217) | (3,884) | 689 |
Income tax (expense)/credit | 1,347 | 157 | (172) |
Profit/(loss) and total comprehensive income/(loss) for the year | (23,870) | (3,727) | 517 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (4,737) | (746) | 77 |
Dividend paid to noncontrolling interests | 1,463 | ||
Chengdu Yueji | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 6,290 | 8,221 | 23,766 |
Profit/(loss) before income tax | (6,280) | (6,674) | (4,722) |
Income tax (expense)/credit | (21) | ||
Profit/(loss) and total comprehensive income/(loss) for the year | (6,301) | (6,764) | (4,722) |
Total comprehensive income/(loss) allocated to noncontrolling interests | (1,890) | (2,029) | (1,515) |
Pengai Xiuqi | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 28,251 | 28,530 | 33,057 |
Profit/(loss) before income tax | (19,411) | (1,135) | 8,678 |
Income tax (expense)/credit | 2,586 | (139) | 803 |
Profit/(loss) and total comprehensive income/(loss) for the year | (16,825) | (1,274) | 9,481 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (1,851) | (140) | 1,043 |
Haikou Pengai | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 24,134 | 20,184 | 25,458 |
Profit/(loss) before income tax | (10,966) | (1,696) | 2,001 |
Income tax (expense)/credit | (84) | 192 | (500) |
Profit/(loss) and total comprehensive income/(loss) for the year | (11,050) | (1,504) | 1,501 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (1,436) | (196) | 195 |
Dividend paid to noncontrolling interests | 186 | 407 | |
Shenzhen Yueji | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 45 | 13,754 | 20,809 |
Profit/(loss) before income tax | 406 | 4,656 | (4,897) |
Income tax (expense)/credit | (21) | (29) | (1,224) |
Profit/(loss) and total comprehensive income/(loss) for the year | (427) | (4,685) | 3,673 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (171) | (1,874) | 1,469 |
Shenzhen Yuexin | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 32,430 | 33,157 | 34,104 |
Profit/(loss) before income tax | 2,937 | 3,710 | (2,240) |
Income tax (expense)/credit | 734 | 391 | (560) |
Profit/(loss) and total comprehensive income/(loss) for the year | (2,203) | (3,319) | 1,680 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (881) | (1,328) | 672 |
Nanchang Pengai | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 2,198 | ||
Profit/(loss) before income tax | 300 | 382 | 2,449 |
Profit/(loss) and total comprehensive income/(loss) for the year | (300) | (382) | (2,449) |
Total comprehensive income/(loss) allocated to noncontrolling interests | (147) | (187) | (898) |
Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 15,295 | 25,958 | 32,668 |
Profit/(loss) before income tax | (21,773) | (2,465) | 1,036 |
Income tax (expense)/credit | 1,795 | 307 | (259) |
Profit/(loss) and total comprehensive income/(loss) for the year | (19,978) | (2,158) | 777 |
Total comprehensive income/(loss) allocated to noncontrolling interests | (2,198) | (237) | 85 |
Ninghai Pengai | |||
Summarised financial information of subsidiaries with material non controlling interests | |||
Revenue | 46 | 4,841 | 5,211 |
Profit/(loss) before income tax | (604) | (1,317) | 1,182 |
Income tax (expense)/credit | (39) | 162 | (113) |
Profit/(loss) and total comprehensive income/(loss) for the year | (643) | (1,155) | 1,069 |
Total comprehensive income/(loss) allocated to noncontrolling interests | ¥ (315) | ¥ (566) | ¥ 524 |
Summarised financial informat_5
Summarised financial information of subsidiaries with material non-controlling interests - Summarised statements of cash flows (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities | |||
Cash generated from/(used in) operations | ¥ 51,715 | ¥ 5,582 | ¥ 100,695 |
Income tax paid | (624) | (6,425) | (13,934) |
Net cash (used in)/generated from operating activities | 51,091 | (843) | 86,761 |
Net cash used in investing activities | (11,525) | (127,368) | (114,172) |
Net cash (used in)/generated from financing activities | (45,235) | 17,697 | 79,561 |
Net increase/ (decrease) in cash and cash equivalents | (5,669) | (110,514) | 52,150 |
Cash and cash equivalents at beginning of the year - Balance sheet | 44,384 | 154,490 | |
Cash and cash equivalents at end of the year - Balance sheet | 39,289 | 44,384 | 154,490 |
Huizhou Pengai | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 1,217 | 3,192 | 5,488 |
Income tax paid | (211) | (1,070) | (715) |
Net cash (used in)/generated from operating activities | 1,006 | 2,122 | 4,773 |
Net cash used in investing activities | (589) | (78) | (708) |
Net cash (used in)/generated from financing activities | (18) | (2,175) | (4,285) |
Net increase/ (decrease) in cash and cash equivalents | 399 | (131) | (220) |
Cash and cash equivalents at beginning of the year - Balance sheet | 296 | 427 | 647 |
Cash and cash equivalents at end of the year - Balance sheet | 695 | 296 | 427 |
Shanghai Pengai | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 2,587 | (2,240) | 11,170 |
Income tax paid | (27) | (444) | (436) |
Net cash (used in)/generated from operating activities | 2,560 | (2,684) | 10,734 |
Net cash used in investing activities | (2,437) | (5,407) | (833) |
Net cash (used in)/generated from financing activities | (2,082) | ||
Net increase/ (decrease) in cash and cash equivalents | 123 | (10,173) | 9,901 |
Cash and cash equivalents at beginning of the year - Balance sheet | 461 | 10,634 | 733 |
Cash and cash equivalents at end of the year - Balance sheet | 584 | 461 | 10,634 |
Chengdu Yueji | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 490 | (3,782) | (1,279) |
Income tax paid | (365) | (347) | |
Net cash (used in)/generated from operating activities | 125 | (3,782) | (1,626) |
Net cash used in investing activities | 2 | 4,358 | (245) |
Net cash (used in)/generated from financing activities | (1,044) | ||
Net increase/ (decrease) in cash and cash equivalents | 127 | (468) | (1,871) |
Cash and cash equivalents at beginning of the year - Balance sheet | 28 | 496 | 2,367 |
Cash and cash equivalents at end of the year - Balance sheet | 155 | 28 | 496 |
Pengai Xiuqi | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | (1,419) | 7,208 | 4,417 |
Net cash (used in)/generated from operating activities | (1,419) | 7,208 | 4,417 |
Net cash used in investing activities | (767) | (4,305) | (4,756) |
Net cash (used in)/generated from financing activities | 2,880 | (3,081) | |
Net increase/ (decrease) in cash and cash equivalents | 694 | (178) | (339) |
Cash and cash equivalents at beginning of the year - Balance sheet | 9 | 187 | 526 |
Cash and cash equivalents at end of the year - Balance sheet | 703 | 9 | 187 |
Haikou Pengai | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 2,162 | 2,462 | 14,810 |
Income tax paid | (8) | (14) | (492) |
Net cash (used in)/generated from operating activities | 2,154 | 2,448 | 14,318 |
Net cash used in investing activities | (1,300) | (1,673) | (14,437) |
Net cash (used in)/generated from financing activities | (100) | (629) | (423) |
Net increase/ (decrease) in cash and cash equivalents | 754 | 146 | (542) |
Cash and cash equivalents at beginning of the year - Balance sheet | 222 | 76 | 618 |
Cash and cash equivalents at end of the year - Balance sheet | 976 | 222 | 76 |
Shenzhen Yueji | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 140 | 1,340 | 3,815 |
Income tax paid | (45) | (1) | |
Net cash (used in)/generated from operating activities | 140 | 1,295 | 3,814 |
Net cash used in investing activities | 5,322 | (3,776) | |
Net cash (used in)/generated from financing activities | (7,423) | 600 | |
Net increase/ (decrease) in cash and cash equivalents | 140 | (806) | 638 |
Cash and cash equivalents at beginning of the year - Balance sheet | 19 | 825 | 187 |
Cash and cash equivalents at end of the year - Balance sheet | 159 | 19 | 825 |
Shenzhen Yuexin | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 191 | 4,187 | 3,545 |
Net cash (used in)/generated from operating activities | 191 | 4,187 | 3,545 |
Net cash used in investing activities | (64) | (1,096) | (4,266) |
Net cash (used in)/generated from financing activities | (3,194) | ||
Net increase/ (decrease) in cash and cash equivalents | 127 | (103) | (721) |
Cash and cash equivalents at beginning of the year - Balance sheet | 44 | 147 | 867 |
Cash and cash equivalents at end of the year - Balance sheet | 171 | 44 | 147 |
Nanchang Pengai | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | (1) | (351) | (221) |
Income tax paid | 134 | ||
Net cash (used in)/generated from operating activities | (1) | (351) | (87) |
Net cash used in investing activities | 330 | (1) | |
Net increase/ (decrease) in cash and cash equivalents | (1) | (21) | (88) |
Cash and cash equivalents at beginning of the year - Balance sheet | 1 | 22 | 110 |
Cash and cash equivalents at end of the year - Balance sheet | 1 | 22 | |
Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | 47 | 2,544 | 4,278 |
Income tax paid | (35) | ||
Net cash (used in)/generated from operating activities | 47 | 2,544 | 4,243 |
Net cash used in investing activities | (1,848) | (3,161) | |
Net cash (used in)/generated from financing activities | (1,646) | ||
Net increase/ (decrease) in cash and cash equivalents | 47 | (950) | 1,082 |
Cash and cash equivalents at beginning of the year - Balance sheet | 514 | 1,464 | 382 |
Cash and cash equivalents at end of the year - Balance sheet | 561 | 514 | 1,464 |
Ninghai Pengai | |||
Cash flows from operating activities | |||
Cash generated from/(used in) operations | (53) | (327) | 1,352 |
Income tax paid | (23) | (74) | |
Net cash (used in)/generated from operating activities | (76) | (401) | 1,352 |
Net cash used in investing activities | (46) | (3,479) | |
Net cash (used in)/generated from financing activities | (343) | 3,000 | |
Net increase/ (decrease) in cash and cash equivalents | (76) | (790) | 873 |
Cash and cash equivalents at beginning of the year - Balance sheet | 83 | 873 | |
Cash and cash equivalents at end of the year - Balance sheet | ¥ 7 | ¥ 83 | ¥ 873 |
Commitments - Capital commitmen
Commitments - Capital commitments (Details) ¥ in Thousands | Dec. 31, 2020CNY (¥) |
Commitments | |
Contracted but not provided for assets | ¥ 8 |
Property, plant and equipment [member] | |
Commitments | |
Contracted but not provided for assets | ¥ 8 |
Commitments - Operating lease c
Commitments - Operating lease commitments (Details) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Commitments | ||
Maximum Amount of Damages Claimed by Plaintiffs | ¥ 1,944,655 | ¥ 8,186,000 |
Restricted cash reserved in escrow account | 0 | |
Within 1 year | ||
Commitments | ||
Minimum future lease payments | ¥ 10,000 | ¥ 20,000 |
Bottom of Range | ||
Commitments | ||
Lease term | 3 years | |
Top of Range | ||
Commitments | ||
Lease term | 9 years |
Related party transactions (Det
Related party transactions (Details) - Related companies - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Related party transactions | ||
Rental expenses | ¥ 2,040 | ¥ 2,182 |
Service fee expenses | ¥ 3,218 |
Related party transactions - Ba
Related party transactions - Balances with related parties (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Balances with related parties | ||
Amounts due from related parties, current | ¥ 4,391 | ¥ 6,693 |
Amounts due to related parties, current | 473 | 1,224 |
Related companies | ||
Balances with related parties | ||
Amounts due from related parties, current | 94 | |
Amounts due to related parties, current | 473 | 620 |
Non-controlling interests | ||
Balances with related parties | ||
Amounts due from related parties, current | ¥ 4,391 | 6,599 |
Amounts due to related parties, current | ¥ 604 |
Related party transactions - Ke
Related party transactions - Key management compensation (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Related party transactions | ||
Basic salaries and bonus | ¥ 17,740 | ¥ 13,428 |
Share based compensation | 24,547 | 54,662 |
Pension costs - defined contribution plans | 376 | 214 |
Compensation paid or payable to key management for employee services | ¥ 42,663 | ¥ 68,304 |
Related party transactions - Pe
Related party transactions - Personal guarantees and corporate guarantee from related company (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Related party transactions | ||
Bank borrowings of the Group secured by personal guarantees from Dr. Zhou Pengwu, Dr. Zhou Yitao and Ms. Ding Wenting and corporate guarantee from a related company | ¥ 94,270 | ¥ 172,131 |
Bank borrowings of the Group secured by personal properties from Dr. Zhou Pengwu and Ms. Ding Wenting | ¥ 9,000 | ¥ 25,725 |
Particulars of the subsidiari_3
Particulars of the subsidiaries (Details) | Sep. 24, 2021 | Sep. 23, 2021 | Sep. 13, 2021 | Sep. 12, 2021 | Dec. 09, 2020 | Dec. 08, 2020 | Dec. 07, 2020 | Dec. 06, 2020 | Mar. 25, 2020 | Mar. 24, 2020 | Dec. 10, 2019 | Dec. 09, 2019 | Jun. 24, 2019 | Jun. 23, 2019 | Jun. 12, 2019 | Jun. 11, 2019 | Jun. 01, 2019 | May 31, 2019 | May 28, 2019 | May 27, 2019 | Jun. 24, 2018 | Dec. 31, 2021CNY (¥)shares | Dec. 31, 2020CNY (¥)shares | Dec. 31, 2021HKD ($)shares | Dec. 31, 2021SGD ($)shares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020HKD ($)shares | Dec. 31, 2020SGD ($)shares | Dec. 31, 2020USD ($)$ / sharesshares |
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 469,000 | ¥ 469,000 | |||||||||||||||||||||||||||
Dragon Jade Holdings Limited | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Number of shares issued | shares | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Stargaze Wealth Limited | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Number of shares issued | shares | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | 50,000 | |||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Peng Oi Investment (Hong Kong) Holdings Limited | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Number of shares issued | shares | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Peng Yida Business Consulting (Shenzhen) Co.,Ltd | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | $ | $ 500,000,000 | $ 500,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shenzhen Pengai Hospital Investment Management Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 115,000,000 | ¥ 115,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shenzhen Pengcheng General Hospital Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 36,000,000 | ¥ 36,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shenzhen Pengai Aesthetic Medical Hospital Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 130,000,000 | ¥ 130,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shenzhen Pengai Beauty Promise Cosmetic Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 100,000 | ¥ 100,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Nanchang Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 5,000,000 | ¥ 5,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% | |||||||||||||||||||||||||||
Haikou Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 3,000,000 | ¥ 3,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 87.00% | 87.00% | |||||||||||||||||||||||||||
Huizhou Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 6,000,000 | ¥ 6,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 67.50% | 65.50% | 67.50% | 67.50% | |||||||||||||||||||||||||
Jinan Pengai Cosmetic Surgery Hospital Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 5,210,000 | ¥ 5,210,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 95.00% | 95.00% | |||||||||||||||||||||||||||
Yantai Pengai Jiayan | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 68.00% | 80.00% | |||||||||||||||||||||||||||
Shenzhen Pengai Culture Broadcast Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 1,000,000 | ¥ 1,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Changsha Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 500,000 | ¥ 500,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 3.00% | 15.00% | 89.00% | 79.00% | 70.00% | 77.00% | 89.00% | ||||||||||||||||||||||
Shanghai Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 3,000,000 | ¥ 3,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 85.00% | 80.00% | 80.00% | 80.00% | |||||||||||||||||||||||||
Newa Medical Aesthetics Limited | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Number of shares issued | shares | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Chongqing Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 25,000,000 | ¥ 25,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 95.00% | 100.00% | ||||||||||||||||||||||||||
Guangzhou Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 18,800,000 | ¥ 18,800,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 76.00% | 96.00% | 91.00% | 96.00% | 96.00% | 96.00% | 76.00% | 76.00% | |||||||||||||||||||||
Pengai Xiuqi | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 12,000,000 | ¥ 12,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 89.00% | 89.00% | |||||||||||||||||||||||||||
Chengdu Yueji | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 3,000,000 | ¥ 3,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 70.00% | ||||||||||||||||||||||||||||
Hangzhou Pengai | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 6,000,000 | ¥ 6,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 80.00% | 100.00% | 80.00% | |||||||||||||||||||||||||
Xi'an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 4,000,000 | ¥ 4,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 70.00% | ||||||||||||||||||||||||||||
Shanghai Jiahong Aesthetic Medical Clinic Co., Ltd | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 5,000,000 | ¥ 5,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 64.00% | 68.00% | |||||||||||||||||||||||||||
Jiangsu Liangyan Hospital Management Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 10,000,000 | ¥ 10,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 80.00% | ||||||||||||||||||||||||||||
Yunnam Liangyan Aesthetic Medical Clinic Co., Ltd | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | 10,000,000 | ¥ 10,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 41.60% | ||||||||||||||||||||||||||||
Kunming Liangyan Aesthetic Medical Clinic Co., Ltd | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | 8,000,000 | ¥ 8,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 39.50% | ||||||||||||||||||||||||||||
Kunming Liangyan Hospital Management Co., Ltd | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 2,000,000 | ¥ 2,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 80.00% | ||||||||||||||||||||||||||||
Aesthetic Medical International Holdings (Singapore) Pte. Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | $ | $ 10 | $ 10 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shanghai Pengai Pengai Medical Technology Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 500,000 | ¥ 500,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shanghai Qiyue Medical Techonology Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 20,000,000 | ¥ 20,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 51.00% | 51.00% | |||||||||||||||||||||||||||
Guangzhou Pengai Xiuqi Aesthetic Medical Clinic | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 1,000,000 | ¥ 1,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 55.50% | ||||||||||||||||||||||||||||
Beijing AomeiYixin Investment ConsultantCo., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 500,000 | 500,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 95.00% | ||||||||||||||||||||||||||||
Beijing Haiyue Xingguang Aesthetic Medical Clinic | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 95.00% | ||||||||||||||||||||||||||||
Nanchang Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 500,000 | 500,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | ||||||||||||||||||||||||||||
Yantai Pengai Cosmetic Surgery Hospital Co., Ltd | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 10,000,000 | ¥ 10,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 89.00% | 89.00% | |||||||||||||||||||||||||||
Shengli Aesthetic Technology Investment ,Hong Kong Company Limited | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Number of shares issued | shares | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | |||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Aih Investment Management Corp | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Par value (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||
Registered capital/ issued share capital | $ | $ 1,000,000 | $ 1,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 100.00% | 100.00% | |||||||||||||||||||||||||||
Shenzhen Pengai Yuexin Aesthetic Medical Hospital | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | ¥ 3,000,000 | ¥ 3,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 60.00% | ||||||||||||||||||||||||||||
Shenzhen Pengai Yueji Aesthetic Medical Hospital | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | $ | 8,000,000 | 8,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 60.00% | ||||||||||||||||||||||||||||
Ninghai Pengai Aesthetic Medical Clinic Co.,Ltd. | |||||||||||||||||||||||||||||
PRC subsidiaries | |||||||||||||||||||||||||||||
Registered capital/ issued share capital | $ | $ 3,000,000 | $ 3,000,000 | |||||||||||||||||||||||||||
Proportion of equity interest held (as a percent) | 51.00% |
Additional information_ Conde_3
Additional information: Condensed balance sheets of the parent company (Details) - CNY (¥) ¥ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||||
Other receivables, deposits and prepayments | ¥ 31,692 | ¥ 98,715 | ||
Cash and cash equivalents | 39,289 | 44,384 | ¥ 154,490 | |
Total assets | 576,940 | 1,038,086 | ||
Equity attributable to owners of the Company | ||||
Other reserves. | 909,411 | 870,355 | ||
Total equity | (186,422) | 425,736 | 590,598 | ¥ (249,356) |
Non-current liabilities | ||||
Convertible note | 38,059 | 34,190 | ||
Total non-current liabilities | 221,705 | 310,662 | ||
Current liabilities | ||||
Accruals, other payables and provisions | 72,848 | 68,783 | ||
Total liabilities | 763,362 | 612,350 | ||
Total equity and liabilities | 576,940 | 1,038,086 | ||
Parent company | ||||
Non-current assets | ||||
Investments in subsidiaries and due from subsidiaries | 452,109 | |||
Current assets | ||||
Other receivables, deposits and prepayments | 4,504 | |||
Cash and cash equivalents | 5,250 | 11,500 | ¥ 65,558 | ¥ 26,932 |
Total current assets | 5,250 | 16,004 | ||
Total assets | 5,250 | 468,113 | ||
Equity attributable to owners of the Company | ||||
Share capital and treasury shares | (1,554) | (1,554) | ||
Other reserves. | (42,434) | 427,290 | ||
Total equity | (43,988) | 425,736 | ||
Non-current liabilities | ||||
Convertible note | 38,059 | 34,190 | ||
Total non-current liabilities | 38,059 | 34,190 | ||
Current liabilities | ||||
Accruals, other payables and provisions | 11,179 | 8,187 | ||
Total liabilities | 49,238 | 42,377 | ||
Total equity and liabilities | ¥ 5,250 | ¥ 468,113 |
Additional information_ Conde_4
Additional information: Condensed statements of comprehensive income of the parent company (Details) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Additional information: condensed financial statements of the Company | |||
Selling expenses | ¥ (404,683,000) | ¥ (510,608,000) | ¥ (413,068,000) |
General and administrative expenses | (206,971,000) | (230,646,000) | (196,329,000) |
Finance income | 113,000 | 1,185,000 | 388,000 |
Finance costs | (27,230,000) | (29,189,000) | (24,293,000) |
Fair value loss of convertible redeemable preferred shares | 136,656,000 | ||
Fair value loss of convertible note | (4,240,000) | (1,599,000) | (5,193,000) |
Fair value loss of exchangeable note liabilities | 45,274,000 | ||
Profit/(loss) before income tax | (681,314,000) | (259,492,000) | 152,364,000 |
Income tax expense | (11,798,000) | (12,587,000) | 14,036,000 |
Profit/(loss) for the year | (669,516,000) | (246,905,000) | 138,328,000 |
Items that may be subsequently reclassified to profit or loss | |||
Currency translation differences | 574,000 | (731,000) | 672,000 |
Total other comprehensive income/(loss) for the year, net of tax | 574,000 | (731,000) | 672,000 |
Total comprehensive income/(loss) for the year | (668,942,000) | (247,636,000) | 139,000,000 |
Parent company | |||
Additional information: condensed financial statements of the Company | |||
Profit/(loss) from subsidiaries | (469,724,000) | (140,096,000) | 40,231,000 |
Selling expenses | (511,000) | (1,228,000) | (1,889,000) |
General and administrative expenses | (47,188,000) | (103,982,000) | (72,908,000) |
Finance costs | (338,000) | (4,144,000) | |
Other loss, net | (6,968,000) | ||
Fair value loss of convertible redeemable preferred shares | 136,656,000 | ||
Fair value loss of convertible note | (4,240,000) | (1,599,000) | (5,193,000) |
Fair value loss of exchangeable note liabilities | (45,274,000) | ||
Fair value loss of derivative financial instrument | 301,000 | ||
Profit/(loss) before income tax | (528,969,000) | (246,905,000) | 138,328,000 |
Profit/(loss) for the year | (528,969,000) | (246,905,000) | 138,328,000 |
Items that may be subsequently reclassified to profit or loss | |||
Currency translation differences | 574,000 | (731,000) | 672,000 |
Total other comprehensive income/(loss) for the year, net of tax | 574,000 | (731,000) | 672,000 |
Total comprehensive income/(loss) for the year | ¥ (528,395,000) | ¥ (247,636,000) | ¥ 139,000,000 |
Additional information_ Conde_5
Additional information: Condensed statements of cash flows of the parent company (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Additional information: condensed financial statements of the Company | |||
Net cash (used in)/generated from operating activities | ¥ 51,091 | ¥ (843) | ¥ 86,761 |
Net cash used in investing activities | (11,525) | (127,368) | (114,172) |
Net cash generated from financing activities | (45,235) | 17,697 | 79,561 |
Net increase/ (decrease) in cash and cash equivalents | (5,669) | (110,514) | 52,150 |
Cash and cash equivalents at beginning of the year - Balance sheet | 44,384 | 154,490 | |
Cash and cash equivalents at end of the year - Balance sheet | 39,289 | 44,384 | 154,490 |
Parent company | |||
Additional information: condensed financial statements of the Company | |||
Net cash (used in)/generated from operating activities | (6,250) | (76,639) | (55,411) |
Net cash used in investing activities | (8,372) | (7,940) | |
Net cash generated from financing activities | 30,953 | 101,977 | |
Net increase/ (decrease) in cash and cash equivalents | (6,250) | (54,058) | 38,626 |
Cash and cash equivalents at beginning of the year - Balance sheet | 11,500 | 65,558 | 26,932 |
Cash and cash equivalents at end of the year - Balance sheet | ¥ 5,250 | ¥ 11,500 | ¥ 65,558 |
Subsequent event (Details)
Subsequent event (Details) - Agreement to Sell Equity Interest [Member] ¥ in Thousands, $ in Thousands | 1 Months Ended | |
Mar. 31, 2022CNY (¥) | Mar. 31, 2022SGD ($) | |
Changsha Pengai Aesthetic Medical Hospital Co., Ltd. | ||
Subsequent event | ||
Agreement to sell equity interest (as a percent) | 77.00% | 77.00% |
Consideration for sale of equity interest | ¥ | ¥ 4,620 | |
Mendis Singapore Pte. Ltd | ||
Subsequent event | ||
Agreement to sell equity interest (as a percent) | 44.40% | 44.40% |
Consideration for sale of equity interest | $ | $ 840 |