Aesthetic Medical International Holdings Group Limited (PAIYY) 20-F 25 Apr 24 2023 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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 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 Financial Statement Error Correction [Flag]	false
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Central Index Key	0001757143
Document Fiscal Period Focus	FY
Entity Common Stock, Shares Outstanding	143,363,884
Amendment Flag	false
Document Fiscal Year Focus	2023
Auditor Name	Onestop Assurance PAC	Union Power HK CPA Limited
Auditor Firm ID	6732	3004
Auditor Location	Singapore	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	2665 0533
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

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Revenue	¥ 682,587,000	¥ 670,091,000	¥ 645,593,000
Cost of sales and services rendered	(360,540,000)	(314,505,000)	(376,092,000)
Gross profit	322,047,000	355,586,000	269,501,000
Selling expenses	(232,254,000)	(226,474,000)	(404,683,000)
General and administrative expenses	(138,605,000)	(150,379,000)	(206,971,000)
Operating result	(48,812,000)	(21,267,000)	(342,153,000)
Finance income	78,000	155,000	113,000
Finance costs	(14,474,000)	(21,635,000)	(27,230,000)
Other gains/(losses), net	8,420,000	(24,920,000)	6,074,000
Fair value loss of convertible note	(116,000)	(26,506,000)	(4,240,000)
Fair value loss of investment properties	(154,000)
Impairment of non-current assets			(313,959,000)
Share of profits of investments accounted for using the equity method			81,000
Loss before income tax	(55,058,000)	(94,173,000)	(681,314,000)
Income tax credit	15,136,000	18,067,000	11,798,000
Loss for the year	(39,922,000)	(76,106,000)	(669,516,000)
Items that may be subsequently reclassified to profit or loss
Currency translation differences	(790,000)	(665,000)	574,000
Revaluation of investment properties upon transfer from property, plant and equipment	(1,498,000)	5,964,000
Total other comprehensive income/(loss) for the year, net of tax	(2,288,000)	5,299,000	574,000
Total comprehensive loss for the year	(42,210,000)	(70,807,000)	(668,942,000)
Loss attributable to:
Owners of the Company	(37,432,000)	(76,247,000)	(586,619,000)
Non-controlling interests	(2,490,000)	141,000	(82,897,000)
Loss for the year	¥ (39,922,000)	¥ (76,106,000)	¥ (669,516,000)
Loss per share for loss attributable to owners of the Company (in RMB per share)
-Basic	¥ (0.28)	¥ (0.93)	¥ (8.89)
-Diluted	¥ (0.28)	¥ (0.93)	¥ (8.89)
Total comprehensive loss attributable to:
Owners of the Company	¥ (39,720,000)	¥ (70,948,000)	¥ (586,045,000)
Non-controlling interests	(2,490,000)	141,000	(82,897,000)
Total comprehensive loss for the year	¥ (42,210,000)	¥ (70,807,000)	¥ (668,942,000)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Non-current assets
Property, plant and equipment	¥ 304,219	¥ 320,816
Investment properties	22,911	23,065
Intangible assets	36,881	37,270
Investments accounted for using the equity method		1,160
Prepayments and deposits	8,146	25,299
Deferred income tax assets	76,938	61,163
Total non-current assets	449,095	468,773
Current assets
Inventories	15,581	27,853
Trade receivables	9,841	6,193
Other receivables, deposits and prepayments	21,655	25,887
Amounts due from related parties	2,156	2,873
Restricted cash		1,547
Asset held-for-sale		1,083
Cash and cash equivalents	62,336	12,161
Total current assets	111,569	77,597
Total assets	560,664	546,370
Equity attributable to owners of the Company
Share capital	978	626
Treasury shares	(2,023)	(2,023)
Accumulated losses	(1,178,203)	(1,140,771)
Other reserves	1,228,135	1,028,510
Total equity attributable to owners of parent	48,887	(113,658)
Non-controlling interests	(15,258)	(12,222)
Total equity	33,629	(125,880)
Non-current liabilities
Borrowings	31,410	29,110
Lease liabilities	84,236	99,304
Deferred income tax liabilities	9
Total non-current liabilities	115,655	128,414
Current liabilities
Trade payables	42,402	46,752
Accruals, other payables and provisions	34,875	43,738
Contingent consideration and consideration payable		6,200
Contract liabilities	193,042	169,725
Borrowings	73,933	172,766
Convertible note	19,506	64,565
Lease liabilities	35,465	27,352
Current income tax liabilities	12,157	12,738
Total current liabilities	411,380	543,836
Total liabilities	527,035	672,250
Total equity and liabilities	¥ 560,664	¥ 546,370

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CNY (¥)	Share capital	Treasury shares	Other reserves (Note 22)	Accumulated losses	Attributable to owners of the Company	Non-controlling interests	Total
Balance at the beginning 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 loss
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 income (loss) 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		3,020,000	(1,586,000)	1,434,000
Share-based payment			35,462,000		35,462,000		35,462,000
Business combination (Note 29)						163,000	163,000
Disposal of subsidiaries (Note 30)						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)
Comprehensive loss
Loss for the year				(76,247,000)	(76,247,000)	141,000	(76,106,000)
Currency translation differences			(665,000)		(665,000)		(665,000)
Revaluation of investment properties upon transfer from property, plant and equipment			5,964,000		5,964,000		5,964,000
Total comprehensive income (loss) for the year			5,299,000	(76,247,000)	(70,948,000)	141,000	(70,807,000)
Transactions with owners
Transactions with non-controlling shareholders (Note 31)			(2,613,000)		(2,613,000)	(748,000)	(3,361,000)
Share-based payment			27,515,000		27,515,000		27,515,000
Disposal of subsidiaries (Note 30)						18,140,000	18,140,000
Deregister of subsidiary			17,000		17,000		17,000
Issuance of shares(Note 20)	157,000		94,009,000		94,166,000		94,166,000
Transaction costs related to issuance of shares			(5,128,000)		(5,128,000)		(5,128,000)
Total transactions with owners	157,000		113,800,000		113,957,000	17,392,000	131,349,000
Balance at the end at Dec. 31, 2022	626,000	(2,023,000)	1,028,510,000	(1,140,771,000)	(113,658,000)	(12,222,000)	(125,880,000)
Comprehensive loss
Loss for the year				(37,432,000)	(37,432,000)	(2,490,000)	(39,922,000)
Currency translation differences			(790,000)		(790,000)		(790,000)
Revaluation of investment properties upon transfer from property, plant and equipment			(1,498,000)		(1,498,000)		(1,498,000)
Total comprehensive income (loss) for the year			(2,288,000)	(37,432,000)	(39,720,000)	(2,490,000)	(42,210,000)
Transactions with owners
Share-based payment	14,000		7,500,000		7,514,000		7,514,000
Disposal of subsidiaries (Note 30)			(5,000)		(5,000)		(5,000)
Dividend to non-controlling shareholders						(546,000)	(546,000)
Addition of paid-in capital			170,001,000		170,001,000		170,001,000
Convertible note convert into shares	338,000		24,417,000		24,755,000		24,755,000
Total transactions with owners	352,000		201,913,000		202,265,000	(546,000)	201,719,000
Balance at the end at Dec. 31, 2023	¥ 978,000	¥ (2,023,000)	¥ 1,228,135,000	¥ (1,178,203,000)	¥ 48,887,000	¥ (15,258,000)	¥ 33,629,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Cash generated from/(used in) operations	¥ 74,306	¥ (74,499)	¥ 51,715
Income tax paid	(20)	(627)	(624)
Net cash generated from/(used in) operating activities	74,286	(75,126)	51,091
Cash flows from investing activities
Net cash used in business combinations		(642)	(7,273)
Proceeds from disposal of property, plant and equipment	11		166
Purchase of and deposit paid for property, plant and equipment	(55,244)	(1,597)	(33,237)
Purchase of and deposit paid for intangible assets	(215)	(81)	(205)
Deposit from investors			20,000
Restricted cash	1,547	(1,547)	8,712
Balances with related parties	717	(2,690)	1,550
Interest income received	78	155	113
Proceeds from disposal of associate	80
Proceeds from disposal of subsidiaries	824	9,536	(1,351)
Proceeds from ceased operation of subsidiaries	(44)	(23)
Net cash (used in)/generated from investing activities	(52,246)	3,111	(11,525)
Cash flows from financing activities
Proceeds from borrowings	85,166	164,300	97,880
Repayment of borrowings	(130,190)	(141,920)	(68,928)
Repayment of lease liabilities	(25,672)	(11,041)	(50,575)
Proceeds from other borrowings	13,547	112,014	143,018
Repayment of other borrowings	(73,098)	(157,098)	(152,687)
Interest paid	(10,146)	(14,606)	(12,828)
Issuance of shares		94,153
Addition of paid-in capital	170,001
Dividends paid to non-controlling interests	(546)	(250)	(1,115)
Net cash generated from/(used in) financing activities	29,062	45,552	(45,235)
Net (decrease)/increase in cash and cash equivalents	51,102	(26,463)	(5,669)
Cash and cash equivalents at beginning of the year	12,161	39,289	44,384
Effect of changes in foreign exchange rates	(927)	(665)	574
Cash and cash equivalents at end of the year	¥ 62,336	¥ 12,161	¥ 39,289

General information

General information	12 Months Ended
	Dec. 31, 2023
General information
General information	AESTHETIC MEDICAL INTERNATIONAL HOLDINGS GROUP LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1 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 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 statements are presented in Renminbi (“RMB”) and rounded to the nearest thousand yuan, unless otherwise stated.

Material accounting policies

Material accounting policies	12 Months Ended
	Dec. 31, 2023
Material accounting policies
Material accounting policies	2 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 The consolidated financial statements of the Group 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, investment properties and assets held for sale, which were carried at fair value. Going Concern The consolidated financial statements of the Group have been prepared assuming that the Group 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 of RMB39,922,000 for the year ended 31 December 2023. As of 31 December 2023, the Group had net current liabilities of RMB299,810,000 and net assets of RMB33,629,000. These factors raise substantial doubt about the Group’s ability to continue as a going concern. Besides continuing to negotiate with the banks, the Group is evaluating several measures of financing, such as external financings,which will also be considered. Currently, the Group intends to raise loans from financial institutions and potential funders to maintain its normal operations. The Group’s ability to continue as a going concern is primarily dependent on the Group’s ability to arrange adequate financing arrangements and generate cash flows from its operations. The Group closed its private placement with Hainan Oriental Jiechuang Investment Partnership (“Jiechuang”) for aggregate gross proceeds of RMB170 million in February 2023 and utilized the money to fund its business development and working capital. Ms. Wu Binhua, the director of the Company, signed a letter of continuing financial support with the Group, in which she undertakes to enable the Group to meet its liabilities and obligations as and when they fall due, for at least 12 months from the date of 20-F for the year ended December 31, 2023. In addition to the aforementioned financial support, Ms. Wu Binhua also leverages her corporate management and talent training advantages to optimize the operations of the Group. 2 2.2 On 1 January 2023, the Group has adopted the new or amended IFRS and interpretations issued by the IFRS lnterpretations Committee (IFRS lC) that are mandatory for application for the financial year. Changes to the Group's accounting policies have been made as required, in accordance with the transitional provisions in the respective IFRS and IFRS IC. The adoption of these new or amended IFRS and IFRS IC did not result in substantial changes to the Group's accounting policies and had no material effect on the amounts reported for the current or prior financial years. 2.3 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 a assumed from 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 Material accounting policies (Continued) 2.3 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 the 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. As of December 31, 2023, Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd., Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd., Guangzhou Pengai Xiuqi Aesthetic Medical Outpatient Department Co., Ltd., Shanghai Pengai Aesthetic Medical Outpatient Department Co., Ltd., Shanghai Pengai Jiahong Aesthetic Medical Outpatient Department Co., Ltd., Yantai Pengai Cosmetic Surgery Hospital Co., Ltd., Beijing Aomei Yixin Investment Consultant Co., Ltd., and its branch, Beijing Aomei Yixin Investment Consultant Co., Ltd. Pengai Aesthetic Medical Clinic (collectively “Relevant Subsidiaries”), which were held by Mr. Zhou Qiuming or Dr. Zhou Pengwu directly or indirectly as to 27%, 26%, 3%, 15%, 12%, 25%, and 25% respectively. Among the entities with contractual arrangements, Changsha Pengai Aesthetic Medical Hospital Co., Ltd. and Nanchang Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. were divested in October 2022 and Hangzhou Pengai Aesthetic Medical Outpatient Department was ceased operation in August 2022. Shenzhen Miaoyan Aesthetic Medical Clinic was divested in December 2022. 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 Material accounting policies (Continued) 2.3 Consolidation (Continued) (d) Contractual arrangements with respect to equity interests in certain PRC subsidiaries (Continued) As of December 31, 2023, 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu, as the borrower. Pursuant to each of these loan agreements, Shenzhen Pengai Investment agrees to extend a loan to Mr. Zhou Qiuming or Dr. Zhou Pengwu in an equivalent amount to the purchase price to be paid by Mr. Zhou Qiuming or Dr. Zhou Pengwu for acquiring the Target Equity Interests. Pursuant to each of these loan agreements, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu under each loan agreement is deemed fully discharged. (iii). Exclusive option agreement Mr. Zhou Qiuming or Dr. Zhou Pengwu, Shenzhen Pengai Investment and each of the Relevant Subsidiaries entered into certain exclusive option agreements. Pursuant to these exclusive option agreements, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu increases his capital injection into the Relevant Subsidiaries, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu is transferred or assigned to Shenzhen Pengai Investment or its designated person(s). ​ 2 Material accounting policies (Continued) 2.3 Consolidation (Continued) (d) Contractual arrangements with respect to equity interests in certain PRC subsidiaries (Continued) (iv). Power of attorney Pursuant to a relevant power of attorney executed by Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu remains a shareholder of the Relevant Subsidiaries, unless Shenzhen Pengai Investment has given contrary written instructions. (v). Equity interest pledge agreement Mr. Zhou Qiuming or 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, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming 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. Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu discharges 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 Mr. Zhou Qiuming or 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. Ma Xiuhua or Ms. Ding Wenting, she unconditionally and irrevocably agreed that the equity interest in each of the Relevant Subsidiaries held or to be held by Mr. Zhou Qiuming or 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. Ma Xiuhua or Ms. Ding Wenting agreed not to assert any rights over the equity interest in the Relevant Subsidiaries held or to be held by Mr. Zhou Qiuming or Dr. Zhou Pengwu. In addition, in the event that Ms. Ma Xiuhua or 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 Material accounting policies (Continued) 2.3 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 powers 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: ● revoke the Contractual Arrangements; ● impose fines, confiscating the income from the Relevant Subsidiaries, or imposing other requirements with which the Company may not be able to comply; ● discontinue or restrict the Company’s operations in the PRC; ● impose conditions or requirements with which the Company may not be able to comply; or ● take other regulatory or enforcement actions that could be harmful to the Company’s business. 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 Material accounting policies (Continued) 2.4 An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting. Under the equity method, the investment is initially recognised at cost, and the carrying amount is increased or decreased to recognise the Company’s share of the comprehensive income of the investee after the date of acquisition. The Group’s investments in associates include goodwill identified on acquisition. Upon the acquisition of the ownership interest in an associate, any difference between the cost of the associate and the Group’s share of the net fair value of the associate’s identifiable assets and liabilities is accounted for as goodwill. 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. 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. 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 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 (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 Material accounting policies (Continued) 2.6 (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 convertible note and exchangeable note liabilities were recorded in “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 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 Material accounting policies (Continued) 2.7 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: ​ - Buildings ​ 20 - 50 years - Leasehold improvements Shorter of remaining lease term and the estimated useful lives of the assets - Machinery and equipment ​ 10 years - Office equipment, furniture, fixture and motor vehicles ​ 5 - 10 years - Right of use assets ​ Shorter of the asset’s useful life and the lease term on a straight-line basis ​ 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 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 fair value basis and its movement will be reviewed annually. If an owner-occupied property becomes an investment property because its use has changed, any difference resulting between the carrying amount and the fair value of this property at the date of transfer is recognised in equity as a revaluation of property, plant and equipment. However, if the fair value of the property at the date of transfer which results in a reversal of the previous impairment loss, the write-back is recognised in the consolidated income statement. 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 (a) Goodwill Goodwill arising 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 Material accounting policies (Continued) 2.9 (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 15 for the goodwill impairment charges recognised in the 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 2.10 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

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2023
Financial risk management
Financial risk management	3 3.1 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 The majority of Group companies operate in the PRC and the majority of the transactions are denominated in RMB which is the Company’s and other Group Company’s functional currency, except for the US$ denominated convertible 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 RMB2,000 (2022: RMB4,000). ​ 3 3.1 (a) Market risk (Continued) (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. 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 the 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 lower/higher in 2021, mainly as a result of higher/lower interest expense on floating rate borrowings. In 2022 and 2023, the interest rate risk was effectively mitigated through a contractual agreement with banks that secured a fixed interest rate. (b) Liquidity risk The Group is exposed to liquidity risk due to the post-impact of COVID–19 and it had net current liabilities of RMB299,810,000 as at 31 December 2023. 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 these 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. 3 3.1 (b) Liquidity risk (Continued) 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. 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. Convertible note in 2020: The maximum exposure is 100% of the issue price, plus an amount accruing at a rate of 15% per annum (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 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2022 Borrowings 172,766 ​ 24,533 ​ 4,577 ​ — ​ 201,876 Convertible note ​ 64,565 ​ — ​ — ​ — ​ 64,565 Lease liabilities ​ 34,444 ​ 33,832 ​ 51,865 ​ 30,902 ​ 151,043 Trade payables 46,752 ​ — ​ — ​ — ​ 46,752 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) 17,001 ​ — ​ — ​ — ​ 17,001 ​ 335,528 ​ 58,365 ​ 56,442 ​ 30,902 ​ 481,237 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Borrowings ​ 78,886 ​ 18,112 ​ 14,670 ​ — ​ 111,668 Convertible note ​ 19,506 ​ — ​ — ​ — ​ 19,506 Lease liabilities ​ 38,670 ​ 32,852 ​ 40,012 ​ 20,534 ​ 132,068 Trade payables ​ 42,402 ​ — ​ — ​ — ​ 42,402 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) ​ 14,428 ​ — ​ — ​ — ​ 14,428 ​ ​ 193,892 ​ 50,964 ​ 54,682 ​ 20,534 ​ 320,072 ​ ​ 3 3.2 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 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 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 2022 and 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ ​ RMB’000 ​ RMB’000 ​ Total borrowings 201,876 ​ 105,343 ​ Add: Convertible note (Note 27) 64,565 ​ 19,506 ​ Less: Cash and cash equivalents (Note 19) (12,161) ​ (62,336) ​ Restricted cash (Note 19) ​ (1,547) ​ — ​ Net debt 252,733 ​ 62,513 ​ Total equity (125,880) ​ 33,629 ​ Total capital 126,853 ​ 96,142 ​ Gearing ratio 199.23 % 64.26 % ​ 3.3 The table below analyses financial instruments carried at fair value as at 31 December 2022 and 2023 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: ● Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). ● Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). ● Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). ​ 3 3.3 The following table presents the Group’s financial assets and liabilities that are measured at fair value as at 31 December 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 As at 31 December 2023 Assets ​ ​ ​ ​ ​ ​ ​ ​ Investment properties (Note 14) ​ — ​ — ​ 22,911 ​ 22,911 ​ ​ — ​ — ​ 22,911 ​ 22,911 Liabilities ​ ​ ​ ​ Financial liabilities at fair value through profit or loss ​ ​ ​ ​ - Convertible note (Note 27) — ​ — ​ 19,506 ​ 19,506 ​ — ​ — ​ 19,506 ​ 19,506 ​ 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: ● Quoted market prices or dealer quotes for similar instruments. ● Other techniques, such as discounted cash flow analysis including dividend growth model, are used to determine fair value for the remaining financial instruments. 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 2022: ​ ​ ​ ​ ​ ​ ​ ​ Convertible note ​ ​ ​ ​ (Note 27) ​ Total ​ ​ RMB’000 ​ RMB’000 Opening balance 38,059 38,059 Change in fair value 26,506 26,506 Closing balance 64,565 64,565 ​ ​ 3 3.3 The following table presents the changes in level 3 liability instrument for the year ended 31 December 2023: ​ ​ ​ ​ ​ ​ ​ ​ Convertible note ​ ​ ​ ​ (Note 27) ​ Total ​ RMB’000 RMB’000 Opening balance 64,565 64,565 Converted into shares ​ (45,175) ​ (45,175) Change in fair value ​ 116 ​ 116 Closing balance 19,506 19,506 ​

Critical accounting estimates a

Critical accounting estimates and judgments	12 Months Ended
	Dec. 31, 2023
Critical accounting estimates and judgments
Critical accounting estimates and judgments	4 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 and propety, plant and equipment impairment assessment The Group tests annually whether goodwill and propery, plant and equipment have 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. In 2023, there were no new mergers or acquisitions; therefore, this accounting method was not utilized. (c) Fair values of convertible notes The convertible notes is 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 convertible notes. ​ 4 (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. ​ (e) Deferred tax assets Deferred tax assets are recognised for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant management judgement is required to determine the amount of deferred tax assets that can be recognised, based upon the likely timing and the level of future taxable profits, together with future tax planning strategies. The Group has RMB385,070,000 (2022: RMB343,995,000) of tax losses carried forward. These losses relate to subsidiaries that have a history of losses and may not be used to offset taxable income elsewhere in the Group. The Group has considered the future utilization of accumulated tax losses by performing cash flow forecasts. On this basis, the Group has determined that deferred tax assets of RMB76,938,000 (2022: RMB61,163,000) was recognised for the tax losses carried forward.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Revenue
Revenue	5 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Non-surgical aesthetic medical services 334,248 482,285 474,874 Surgical aesthetic medical services 243,070 132,628 143,057 General healthcare services and other aesthetic medical services 68,275 55,178 64,656 ​ 645,593 670,091 682,587 ​

Expenses by nature

Expenses by nature	12 Months Ended
	Dec. 31, 2023
Expenses by nature
Expenses by nature	6 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Employee benefit expenses (Note 7) 309,250 234,142 221,971 Advertising and marketing expenses 255,534 132,202 164,236 Cost of inventories and consumables 174,991 160,152 204,881 Operating lease rental expenses 15,836 12,822 9,374 Amortisation and depreciation 99,135 61,485 65,897 Utilities and office expenses 76,579 39,085 38,329 Travelling and entertainment expenses 12,818 7,009 8,451 Bank charges 3,213 4,035 4,890 Loss on disposal of property, plant and equipment — 20,465 — Legal and professional fees 30,570 14,743 11,355 Other expenses 9,820 5,218 2,015 ​ 987,746 691,358 731,399 ​

Employee benefit expenses

Employee benefit expenses	12 Months Ended
	Dec. 31, 2023
Employee benefit expenses
Employee benefit expenses	7 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Wages and salaries 250,773 183,193 198,988 Share-based compensation expenses ​ 35,463 ​ 27,528 ​ 7,514 Pension costs - defined contribution plans 16,942 15,651 10,616 Other staff welfare expenses 6,072 7,770 4,853 ​ 309,250 234,142 221,971 ​

Finance income and costs

Finance income and costs	12 Months Ended
	Dec. 31, 2023
Finance income and costs
Finance income and costs	8 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Finance costs Interest expense on bank borrowings ​ (7,844) ​ (579) ​ (4,105) Interest expense on other borrowings ​ (6,542) ​ (12,375) ​ (4,511) Interest expense on lease liabilities (12,844) (8,681) (5,858) ​ (27,230) (21,635) (14,474) Finance income ​ ​ ​ Interest income on short-term bank deposits 113 155 78 Finance costs – net (27,117) (21,480) (14,396) ​

Other gains (losses) net

Other gains (losses) net	12 Months Ended
	Dec. 31, 2023
Other gains (losses) net
Other gains (losses) net	9 The Company recognised other gains, net of RMB8.4 million in 2023 and other gains, net of RMB24.9 million in 2022. The other gains in 2023 mainly due to the conversion of the convertible note exercised by ADV on August 16,2023.

Income tax expense

Income tax expense	12 Months Ended
	Dec. 31, 2023
Income tax expense
Income tax expense	10 PRC corporate income tax have been provided for subsidiaries established and operating in Mainland China at the rate of 25% (2021 and 2022: 25%) on the estimated assessable profit for the year. ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Current tax PRC enterprise income tax 8,208 3,308 1,000 Deferred tax ​ ​ ​ PRC enterprise income tax previous years ​ — ​ — ​ (5,890) Origination and reversal of temporary differences (Note 23) (20,006) (21,375) (10,246) Income tax credit (11,798) (18,067) (15,136) ​ The taxation on the Group’s loss 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Loss before income tax (681,314) (94,173) (55,058) Calculated at a taxation rate of 25% ​ (170,329) (23,543) (13,765) Expenses not tax deductible 42,450 7,223 4,121 Tax losses not recognized 117,454 5,531 1,124 Difference in overseas tax rates (304) (400) (364) Over‑provision in respect of prior years (1,069) (6,878) (6,252) Income tax expense/(credit) (11,798) (18,067) (15,136) ​ ​ 10 (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 2021,2022 and 2023. (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 years, 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 per share

Loss per share	12 Months Ended
	Dec. 31, 2023
Loss per share
Loss per share	11 (a) Basic loss per share Basic earnings per share (“EPS”) is calculated by dividing the loss attributable to owners of the Company by the weighted average number of ordinary shares in issue during the year. (b) Diluted loss per share Diluted loss 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 2021, 2022 and 2023, 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. ​ 11 (b) Diluted Loss per share (Continued) The following table sets forth the computation of basic and diluted loss per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Numerator: ​ Loss attributable to owners of the Company – basic (586,619) (76,247) (37,432) Loss attributable to owners of the Company – diluted (586,619) (76,247) (37,432) Shares (denominator): ​ ​ ​ Weighted average number of shares – basic 65,960,235 81,911,577 131,658,595 Weighted average number of shares – diluted 65,960,235 81,911,577 131,658,595 Loss per share – basic (RMB) (8.89) (0.93) (0.28) Loss per share – diluted (RMB) (Note i) (8.89) (0.93) (0.28) ​ Note i As the Group incurred losses for the years ended 31 December 2022 and 2023, share option and the conversion of convertible note would be anti-dilutive and therefore, related changes in fair value are 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 2022 and 2023. ​

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2023
Property, plant and equipment
Property, plant and equipment	12 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount 57,236 109,836 66,220 5,009 120,448 358,749 Additions ​ 105 ​ 20,861 ​ 11,509 ​ 2,999 ​ 70,177 ​ 105,651 Disposal — — (930) (1,211) (22,381) (24,522) Disposal of subsidiaries (Note 30) — (23,469) (2,900) (340) (14,161) (40,870) Depreciation charges (3,305) (13,845) (12,364) (1,421) (30,156) (61,091) Transfer to Investment Properties ​ (17,101) ​ — ​ — ​ — ​ — ​ (17,101) Closing net book amount 36,935 93,383 61,535 5,036 123,927 320,816 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended 31 December 2022 ​ ​ ​ ​ ​ ​ At 31 December 2022 ​ ​ ​ ​ ​ ​ Cost 37,021 289,207 131,668 25,663 214,787 698,346 Accumulated depreciation and impairment (86) (195,824) (70,133) (20,627) (90,860) (377,530) Net book amount 36,935 93,383 61,535 5,036 123,927 320,816 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount 36,935 ​ 93,383 ​ 61,535 ​ 5,036 ​ 123,927 ​ 320,816 Additions ​ 1,539 ​ 15,270 ​ 20,428 ​ 3,455 ​ 14,552 ​ 55,244 Disposal — ​ — ​ (3,881) ​ (251) ​ (184) ​ (4,316) Disposal of subsidiaries (Note 30) — ​ (417) ​ (1,699) ​ (86) ​ — ​ (2,202) Depreciation charges (1,983) ​ (22,001) ​ (16,269) ​ (1,644) ​ (23,426) ​ (65,323) Closing net book amount 36,491 ​ 86,235 ​ 60,114 ​ 6,510 ​ 114,869 ​ 304,219 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost 38,560 ​ 304,053 ​ 127,559 ​ 26,772 ​ 223,076 ​ 720,021 Accumulated depreciation and impairment (2,069) ​ (217,818) ​ (67,445) ​ (20,262) ​ (108,207) ​ (415,802) Net book amount 36,491 ​ 86,235 ​ 60,114 ​ 6,510 ​ 114,869 ​ 304,219 ​ As at 31 December 2022 and 2023, property, plant and equipment with net book value amounting to approximately RMB48,285,000 and RMB34,965,000 respectively, were pledged as security for the bank and other borrowings.

Lease

Lease	12 Months Ended
	Dec. 31, 2023
Lease
Lease	13 (a) Amounts recognised in the consolidated balance sheets: Right-of-use assets are classified as property, plant and equipment (Note 12). ​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at ​ ​ 31 December ​ 31 December ​ 31 December ​ ​ 2021 ​ 2022 ​ 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Lease liabilities ​ ​ Current 28,278 ​ 27,352 35,465 Non-current 105,754 ​ 99,304 84,236 ​ 134,032 ​ 126,656 119,701 ​ (b) Amounts recognised in the consolidated statements of comprehensive income: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Interest expense (included in finance costs) (Note 8) 12,844 8,681 5,858 Expense relating to short-term leases (included in cost of goods sold and administrative expenses) 15,836 12,822 9,374 ​ The total cash outflows for leases in 2023 was approximately RMB36,698,000 (2022: RMB31,263,000).

Investment properties

Investment properties	12 Months Ended
	Dec. 31, 2023
Investment properties
Investment properties	14 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Fair value At 1 January — 23,065 Transfer from property, plant and equipment 23,065 — Fair value loss of investment properties ​ — ​ (154) At 31 December 23,065 22,911 ​ Investment properties represents buildings held in the PRC. Investment properties with fair value amounting to RMB22,911,000 as of December 31, 2023 were pledged as security for the bank loans at the reporting date. Amounts recognised in the consolidated income statements for investment properties: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 RMB’000 Rental income — — ​ 240 ​ As at 31 December 2023, the fair values of the investment property are based on valuation performed by Dacheng Assessment, an accredited independent valuer. Dacheng Assessment is a specialist in valuing these types of investment properties in China. A valuation model in accordance with that recommended by the International Valuation Standards Committee has been applied.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2023
Intangible assets
Intangible assets	15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Computer ​ Medical ​ ​ ​ ​ ​ Goodwill software licenses Tradenames Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 Year ended 31 December 2022 ​ ​ ​ ​ ​ ​ ​ Opening net book amount 33,175 ​ 713 ​ — 3,350 37,238 Additions — ​ 606 ​ — — 606 Disposal ​ — ​ (3) ​ — ​ — ​ (3) Business combination (Note 29) 779 ​ — ​ — — 779 Disposal of subsidiaries (Note 30) (955) ​ — ​ — — (955) Amortisation — ​ (395) ​ — — (395) Closing net book amount ​ 32,999 ​ 921 ​ — ​ 3,350 ​ 37,270 At 31 December 2022 ​ ​ ​ ​ ​ ​ ​ Cost 54,213 ​ 12,813 ​ 9,585 5,039 81,650 Impairment ​ (21,214) ​ (3,954) ​ — ​ (719) ​ (25,887) Accumulated amortisation — ​ (7,938) ​ (9,585) (970) (18,493) Net book amount 32,999 ​ 921 ​ — 3,350 37,270 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended 31 December 2023 ​ ​ ​ ​ ​ ​ ​ Opening net book amount 32,999 ​ 921 ​ — ​ 3,350 ​ 37,270 Additions — ​ 215 ​ — ​ — ​ 215 Disposal of subsidiaries — ​ (30) ​ — ​ — ​ (30) Amortisation — ​ (347) ​ — ​ (227) ​ (574) Closing net book amount ​ 32,999 ​ 759 ​ — ​ 3,123 ​ 36,881 At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost 54,213 ​ 12,809 ​ 9,585 ​ 5,040 ​ 81,647 Impairment ​ (21,214) ​ (3,954) ​ — ​ (719) ​ (25,887) Accumulated amortisation — ​ (8,096) ​ (9,585) ​ (1,198) ​ (18,879) Net book amount 32,999 ​ 759 ​ — ​ 3,123 ​ 36,881 ​ Note: Goodwill of RMB779,000 arose from acquisitions of subsidiaries in 2022 and nil in 2023. The subsidiaries are principally engaged in the provision of non-surgical aesthetic treatments and surgical aesthetic treatments in the PRC. ​ 15 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. During the year ended 31 December 2022 and 2023, the Company has not recognized any impairment to property, plant and equipment and intangible assets. 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 discounted cash flow projections based on financial budgets approved by management covering a five-year period. Cash flow beyond the five-year period is extrapolated using the estimated growth rates as stated below. ​ ​ ​ ​ ​ ​ ​ 2022 2023 Annual compound revenue growth rate 6.0% ~ 10.0% 6.0% ~ 10.0% Annual gross profit ratio 53.8% ~ 65% 47.0% ~ 62.0% Discount rate 5.7% 5.7% ​ Management considers that because of their experience and expertise knowledge in the aesthetic medical treatment business in the PRC, a cash flow period of five years is reasonable. 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 from a industry study. The discount rate used is pre-tax and reflects specific risks relating to the entity. The cash flows beyond the five year periods are extrapolated using a 5% (2022: 5%) growth rate.

Investments accounted for using

Investments accounted for using the equity method	12 Months Ended
	Dec. 31, 2023
Investments accounted for using the equity method
Investments accounted for using the equity method	16 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 At 1 January 4,904 1,160 Acquisition 860 — Disposal ​ (600) ​ (1,160) Transfer to assets held-for-sale ​ (4,004) ​ — At 31 December 1,160 — ​ Set out below are the associates of the Group as at 31 December 2022 and 2023 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. 16 ​ Nature of investments in associates as at 31 December 2022 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Place of ​ % of ownership ​ Nature of the ​ Measurement Name of entity establishment 2022 2023 relationship method Moyan (Shenzhen) Network Technology Co., Ltd. The PRC 46 % — % Note 1 Equity (美約(深圳)網路技術有限公司) ​ 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 2 Equity Shenzhen Pengai Lizhi Aesthetic Medical Clinic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ （深圳鹏爱荔枝医疗美容诊所） ​ The PRC ​ 43 % — % Note 3 ​ Equity ​ Note 1: Moyan (Shenzhen) Network Technology Co., Ltd. (“Moyan”) was engaged in internet marketing services. This entity was deregistered in September 2023. Note 2: Shenzhen Huayanyuese Health Management Consulting Co., Ltd. was engaged in investment holding and provision of management services. This entity was divested in April 2023. Note 3: Summarised financial information for associates Set out below are the summarised financial information for investments accounted for using the equity method: Summarised balance sheet ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Current Cash and cash equivalents 33 — Other current assets (excluding cash and cash equivalents) 4,611 — Total current assets 4,644 — Financial liabilities (excluding trade payables) — — Other current liabilities (including trade payables) (2,654) — Total current liabilities (2,654) — Total non-current assets 300 — Net assets 2,290 — ​ 16 Summarised statement of comprehensive income ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Revenue — — Depreciation and amortisation — — Interest expense — — Loss before income tax — — Income tax expense — — Loss for the year — — ​ 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, 2023
Trade and other receivables, deposits and prepayments
Trade and other receivables, deposits and prepayments	17 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Trade receivables 6,193 9,841 ​ ​ ​ ​ ​ Other receivables 1,460 923 Deposits 17,976 7,342 Prepayments 31,030 20,450 Advances to employees 720 1,086 ​ 51,186 29,801 Less: Non-current portion ​ ​ Prepayments and deposits (25,299) (8,146) Current portion 25,887 21,655 ​ 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 no bad debts accrued.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventories
Inventories	18 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Pharmaceuticals 1,304 789 Medical consumables 26,549 14,792 ​ 27,853 15,581 ​ The cost of inventories recognised as expense and included in cost of inventories and consumables amounted to RMB204,881,000 (2022: RMB160,152,000).

Restricted cash and cash and ba

Restricted cash and cash and bank balances	12 Months Ended
	Dec. 31, 2023
Restricted cash and cash and bank balances
Restricted cash and cash and bank balances	19 ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Restricted cash 1,547 — ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Cash and cash equivalents Cash at banks 12,138 62,320 Cash on hand 23 16 Total 12,161 62,336 ​ The analysis of bank and cash balances for the purpose of the consolidated statement of cash flows is as follows: ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Cash and cash equivalents 12,161 62,336 ​ The carrying amounts of the Group’s restricted bank deposit and cash and cash equivalents are denominated in the following currencies: ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 RMB 10,857 62,278 US dollars 96 47 Hong Kong dollars 5 11 Singapore dollars 2,750 — ​ 13,708 62,336 ​ 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.

Assets held-for-sale

Assets held-for-sale	12 Months Ended
	Dec. 31, 2023
Assets held-for-sale
Assets held-for-sale	20 Assets held-for-sale The discontinued operation includes an investment in an associate of Mendis Aesthetic PTE. Ltd. (“Mendis”) with a carrying amount of RMB4,004,000. In March 2022, the Company entered into a sales and purchase agreement to sell 44.4% of equity interest of Mendis. The sale of shares is completed in two equal tranches. The first tranche to sell 22.2% of equity interest was completed in March 2022. The second tranche was completed in December 2023. The investment was reclassified as assets held-for-sale in March 2022. As at the date of reclassification, the carrying amount equals the fair value of the instrument, which is the consideration of the sales of shares. The Company recorded a loss of RMB1,083,000 due to the disposal of Stargaze Wealth Limited for the year ended 31 December 2023.

Share capital

Share capital	12 Months Ended
	Dec. 31, 2023
Share capital
Share capital	2 1a ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ordinary shares of USD 0.001 each ​ Number of Nominal Nominal ​ ​ shares ​ value ​ value ​ ​ ​ ​ USD’000 ​ RMB’000 Authorised: ​ ​ ​ ​ ​ As at 1 January 2020, 31 December 2020, 1 January 2021, 31 December 2021, 1 January 2022, 31 December 2022, 1 January 2023 and 31 December 2023 1,500,000,000 ​ 1,500 ​ 10,599 Issued and paid: ​ ​ ​ ​ ​ As at 31 December 2021 and 1 January 2022 70,838,671 ​ 72 ​ 469 Issuance of shares to Hawyu (HK) Limited (Note i) ​ 21,413,276 ​ 21 ​ 144 Issuance of shares under Performance Incentive Plan (Note ii) ​ 1,927,793 ​ 2 ​ 13 As at 31 December 2022 * ​ 94,179,740 ​ 94 ​ 626 Issuance of shares to MY Universe (HK) Limited (Note iii) ​ 36,402,570 ​ 36 ​ 250 Issuance of shares to Peak Asia Investment Holdings V Limited (Note iv) ​ 12,088,808 ​ 12 ​ 88 Issuance of shares to Seefar Global Holdings Limited (Note v) ​ 1,956,516 ​ 2 ​ 14 As at 31 December 2023 ** ​ 144,627,634 ​ 145 ​ 978 ​ Note i: In May 2021, we entered into definite share subscription agreement for the issuance of 5,329,410 ordinary shares to Lafang China Co., Ltd. (“Lafang”), a daily consumer products producer in China, at a sale price of US$8.50 for every three ordinary shares (equivalent to US$8.50 per American Depositary Share of the Company), which amounted to US$15.1 million in proceeds. In May 2022, we entered into an amendment to the above share subscription agreement with Lafang. Pursuant to this amendment, we issued 21,413,276 ordinary shares to Hawyu (HK) Limited, a wholly-owned subsidiary of Lafang, at a sale price of RMB4.67 per ordinary share (equivalent to approximately US$2.1 per American Depositary Share based on the exchange rate as of 31 May 2022), which amounted to RMB100 million (US$15 million) in proceeds. The private placement was closed in July 2022. We utilized the money from this private placement to fund our business development and working capital. Note ii: On 29 July 2022, the Company issued 1,927,793 new ordinary shares to certain employees, representing an aggregate 2.0% of the total number of outstanding ordinary shares, at nil consideration in accordance with the 2019 Performance Incentive Plan proposed in September 2019. The purpose of this share option plan is to recognize contributions made by key employees on the negotiation and execution of the financing with Lafang China Co., Ltd. and Jiechuang, as well as to provide an incentive to retain a long-term relationship with the Company under the alignment of interests . 21a Note iii: Reference is made to the 6-K report of the Company filed with the SEC on February 16, 2023. Further to its press release on July 20, 2022, the Company has closed its previously announced private placement offering through the issuance and allotment of 36,402,570 new ordinary shares of the Company (the “Subscription Shares”) to MY Universe (HK) Limited as designated by Hainan Oriental Jiechuang Investment Partnership (Limited Partnership) at a price of RMB 4.67 per Subscription Share for the aggregate gross proceeds of RMB 170 million. Note iv: Reference is made to the press release of the Company filed with the Securities and Exchange Commission (the “SEC”) on July 20, 2022, form 6-K of the Company filed with the SEC on February 16, 2023 and form 6-K of the Company filed with the SEC on August 17, 2023 (collectively, “Previous Disclosure”). Further to its Previous Disclosure, the Company has closed its previously announced the issue of a total number of 12,088,808 ordinary shares of the Company to ADV at a conversion price of US dollars equivalent of RMB4.203 per ordinary share on August 16, 2023 pursuant to the Note issued to ADV on September 17, 2020 and the cooperation agreement between ADV and its affiliate, the Company, Dr. Zhou Pengwu, Ms. Ding Wenting, Wanda and Jiechuang dated July 20, 2022. As of December 31, 2023, the Company has no convertible note outstanding. Note v: Further to the Company’s Previous Disclosure mentioned in Note iv, Seefar Global Holdings Limited exercised its warrants, converting them into 1,956,516 ordinary shares of the Company on August 18, 2023. * The treasury shares as of December 31, 2022 were 135,000 ordinary shares, represented by 45,000 ADSs repurchased in 2020 pursuant to the Company’s repurchase program in October 2020. ** The treasury shares as of December 31, 2023 were 1,263,750 ordinary shares, including 135,000 ordinary shares represented by 45,000 ADSs repurchased in 2020 pursuant to the Company’s repurchase program in October 2020, and 1,128,750 ordinary shares held by Shengli Family Limited, which have not been granted to any employee but are reserved for the purpose of incentive shares. 21b Treasury Shares ​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ shares ​ RMB’000 As at 31 December 2020, 1 January 2021, 31 December 2021, 1 January 2022, 31 December 2022, 1 January 2023 ​ 135,000 ​ 2,023 Options outstanding under the Share Incentive Plan ​ 1,128,750 ​ — As at 31 December 2023 ​ 1,263,750 ​ 2,023 ​ Note i: 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, 2023
Other reserves
Other reserves	22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2021 and 1 January 2022 ​ 707,890 ​ (10,000) ​ 42,777 ​ 230,177 ​ (61,433) ​ 909,411 Translation of foreign operations ​ — ​ — ​ — ​ — ​ (665) ​ (665) Revaluation of investment properties upon transfer from property, plant and equipment ​ — ​ — ​ — ​ — ​ 5,964 ​ 5,964 Deregister of subsidiary ​ 17 ​ — ​ — ​ — ​ — ​ 17 Partial disposal of interests in a subsidiary without loss of control (Note 31) ​ — ​ — ​ — ​ — ​ (2,613) ​ (2,613) Issuance of shares ​ 94,153 ​ — ​ — ​ — ​ (144) ​ 94,009 Transaction costs related to issuance of shares ​ (5,128) ​ — ​ — ​ — ​ — ​ (5,128) Share-based payment reserve ​ — ​ — ​ — ​ 27,515 ​ — ​ 27,515 At 31 December 2022 ​ 796,932 ​ (10,000) ​ 42,777 ​ 257,692 ​ (58,891) ​ 1,028,510 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2022 and 1 January 2023 ​ 796,932 ​ (10,000) ​ 42,777 ​ 257,692 ​ (58,891) ​ 1,028,510 Translation of foreign operations ​ — ​ — ​ — ​ — ​ (790) ​ (790) Revaluation of investment properties ​ — ​ — ​ — ​ — ​ (1,498) ​ (1,498) Disposal of subsidiary ​ — ​ — ​ (5) ​ — ​ — ​ (5) Share-based payment reserve ​ — ​ — ​ — ​ 7,500 ​ — ​ 7,500 Addition of paid-in capital ​ 170,001 ​ — ​ — ​ — ​ — ​ 170,001 Convertible note convert into shares ​ 24,417 ​ — ​ — ​ — ​ — ​ 24,417 At 31 December 2023 ​ 991,350 ​ (10,000) ​ 42,772 ​ 265,192 ​ (61,179) ​ 1,228,135 ​ (a) Capital reserve The capital reserve mainly represents capital contribution made by an owner and shareholders of the Company. ​ 22 (b) Merger reserve is mainly attributable to business combinations under common control. (c) 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 their 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) For the year ended 31 December 2022, share-based compensation expenses amounting to RMB27,515,000 was charged to share-based compensation reserve (Note 32), which was attributable to share options which were granted to certain consultants and employees of the Group in previous years. For the year ended 31 December 2023, share-based compensation expenses amounting to RMB4,226,000 was charged to share-based compensation reserve (Note 32). (e) Other reserve mainly represents the currency translation differences and loss on the conversion of property, plant and equipment to investment properties.

Deferred income tax

Deferred income tax	12 Months Ended
	Dec. 31, 2023
Deferred income tax
Deferred income tax	23 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 The deferred tax assets comprise attributable to: ​ ​ - Tax losses 60,002 76,572 - Other temporary differences ​ 1,161 ​ 366 ​ ​ 61,163 ​ 76,938 The deferred tax liabilities comprise temporary differences attributable to: ​ ​ - Others ​ — ​ (9) ​ ​ — ​ (9) ​ 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 as follows: ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Deferred income tax assets: ​ - Deferred income tax assets to be recovered after more than 12 months 61,163 76,938 ​ 61,163 76,938 Deferred income tax liabilities: ​ ​ - Deferred income tax liabilities to be settled after more than 12 months — (9) ​ 23 The movement in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same taxation jurisdiction is as follows: The gross movement on deferred income tax accounts is as follows: ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 At 1 January 45,480 61,163 Disposal of subsidiaries (Note 30) (5,292) (6) Credited to consolidated statement of comprehensive income 21,375 16,136 Translation adjustment ​ (400) ​ (364) At 31 December 61,163 76,929 ​ Deferred income tax assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Tax losses Others Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 At 1 January 2022 43,323 ​ 2,442 ​ 45,765 Disposal of a subsidiary (Note 30) (5,292) ​ — ​ (5,292) Credited to consolidated statement of comprehensive income 22,371 ​ (1,281) ​ 21,090 ​ ​ (400) ​ — ​ (400) At 31 December 2022 and 1 January 2023 60,002 ​ 1,161 ​ 61,163 Disposal of subsidiaries (Note 30) (6) ​ — ​ (6) Credited to consolidated statement of comprehensive income ​ 16,941 ​ (796) ​ 16,145 Translation adjustment ​ (364) ​ — ​ (364) At 31 December 2023 76,572 ​ 366 ​ 76,938 ​ Deferred income tax liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical licenses ​ ​ ​ ​ and tradenames ​ Others ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 At 1 January 2022 285 ​ — ​ 285 Credited to consolidated statement of comprehensive income ​ (285) ​ — ​ (285) At 31 December 2022 and 1 January 2023 — ​ — ​ — Credited to consolidated statement of comprehensive income (9) ​ — ​ (9) At 31 December 2023 (9) ​ — ​ (9) ​ Deferred income tax assets are recognised for tax loss carry-forwards to the extent that the realisation of the related tax benefit through future taxable profits is probable. The Group has unrecognised tax losses as at 31 December 2023 of RMB78,783,000 (2022: RMB103,988,000) which can be carried forward against future taxable income and their expiry dates are as follows: ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Tax loss expiring within 5 years 103,988 78,783 ​

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2023
Borrowings
Borrowings	24 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Non ‑ current Bank borrowings - secured 3,248 15,610 ​ ​ ​ ​ ​ Other borrowings ​ ​ ​ ​ - secured ​ 25,862 ​ 15,800 ​ ​ 29,110 ​ 31,410 Current ​ ​ Bank borrowings ​ ​ - secured 108,534 42,196 ​ ​ ​ ​ ​ Other borrowings ​ ​ ​ ​ - secured ​ 64,232 ​ 31,737 ​ ​ 172,766 ​ 73,933 ​ ​ 201,876 ​ 105,343 ​ 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 7.6% at 31 December 2023. Bank borrowings are secured by the following: (i) property, plant and equipment and investment properties of the Group (Note 12 and Note 14); (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)). (v) personal guarantee provided by Ms. Wu Binhua (Note 35(d)). Other borrowings are secured by the following: (i) property, plant and equipment of the Group (Note 12).

Trade and accruals, other payab

Trade and accruals, other payables and provisions	12 Months Ended
	Dec. 31, 2023
Trade and accruals, other payables and provisions
Trade and accruals, other payables and provisions	25 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Trade payables 46,752 42,402 Accrued employee benefits 15,004 16,521 Accrued operating expenses 5,772 5,619 Accrued professional service fees 1,749 6,708 Deposits received 1,147 689 Duty and tax payable other than corporate income tax 4,375 4,784 Other payables to suppliers of plant and equipment 177 158 Others 15,514 396 ​ 90,490 77,277 ​ 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, 2023
Contract liabilities
Contract liabilities	26 ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Advance receipt for treatment packages 169,725 193,042 ​ As at end of 31 December 2023, the contract liabilities are aged within one year from the date when the sales contracts in respect of treatment packages were entered into.

Convertible note

Convertible note	12 Months Ended
	Dec. 31, 2023
Convertible note
Convertible note	27 Convertible note in 2020 On 17 September 2020, the Company entered into a convertible note purchase agreement, pursuant to which, the Company issued a convertible note to ADV at a principal amount of US$5,000,000 (equivalent to approximately RMB33,474,000) at a maturity date of 17 March 2023. Nevertheless, in July 2022, the Company entered into a Share Purchase Agreement, a Subscription Agreement, a Shareholders’ Agreement and a Cooperation Agreement (collectively “Financing Agreements”) with ADV and other parties, under which the Company settled with ADV on the above convertible note purchase agreement. According to the Financing Agreements, the aforementioned convertible note held by ADV will no longer accrue interest after July 2022 and ADV undertakes to covert the outstanding principal amount as well as interest into the Company’s ordinary shares at the price of RMB4.203 per ordinary share without cash payment upon the closing of the Financing Agreements. 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 of the 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 a 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. As a part of the financing plan of convertible note, on 17 September 2020, the Company also entered into an exit payment agreement with ADV to compensate ADV for a maximum of US$2,700,000 if certain requirements are not fulfilled. On 20 July 2022, the Company granted a warrant to ADV for a right to purchase the Company’s shares at USD equivalent of RMB4.67 per share as a substitute to the exit payment which was effective since August 16, 2023 and until 6:00pm (Hong Kong time) on December 14, 2024 (inclusive). The warrant of exit payment is measured at fair value of RMB19,506,000 included in convertible note. ​ 27 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 2023, the directors used the binominal method. The movement of the convertible note is set out as below: ​ ​ ​ ​ ​ RMB’000 ​ ​ ​ For the year ended 31 December 2021 At 1 January 2021 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 ​ ​ For the year ended 31 December 2022 ​ ​ At 1 January 2022 ​ 38,059 Change in fair value ​ 26,506 ​ ​ ​ At 31 December 2022 ​ 64,565 ​ ​ ​ Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end ​ 26,506 ​ ​ ​ For the year ended 31 December 2023 ​ ​ At 1 January 2023 ​ 64,565 Converted into shares ​ (45,175) Change in fair value ​ 116 ​ ​ ​ At 31 December 2023 ​ 19,506 ​ ​ ​ Fair value changes for the year included in consolidated statement of comprehensive loss for liabilities held at the year end ​ 116 ​ Reference is made to the press release of the Company filed with the Securities and Exchange Commission (the “SEC”) on July 20, 2022 and form 6-K of the Company filed with the SEC on February 16, 2023 and August 17, 2023 in relation to, among other, entry into a share purchase agreement, a subscription agreement, a shareholders’ agreement and a cooperation agreement. The Company has closed its previously announced issue of a total number of 12,088,808 ordinary shares of the Company to ADV at a conversion price of US dollars equivalent of RMB4.203 per ordinary share on August 16, 2023 pursuant to the Note issued to ADV on September 17, 2020 and the cooperation agreement between ADV and its affiliate, the Company, Dr. Zhou Pengwu, Ms. Ding Wenting, Wanda and Jiechuang dated July 20, 2022.

Cash generated from operations

Cash generated from operations	12 Months Ended
	Dec. 31, 2023
Cash generated from operations
Cash generated from operations	28 ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Loss before income tax (681,314) (94,173) (55,058) Adjustments for: ​ ​ ​ Finance income (113) (155) (78) Finance costs 27,230 21,635 14,474 Amortisation of intangible assets (Note 15) 5,970 395 574 Depreciation of property, plant and equipment (Note 12) 93,165 61,091 65,323 Depreciation of investment properties (Note 14) — — — Loss on disposal of property, plant and equipment 14,349 20,465 1,981 Loss on disposal of intangible assets ​ 1,350 ​ 3 ​ — Share of profits of investments accounted for using the equity method ​ (81) ​ — ​ — Fair value loss of investment properties ​ — ​ — ​ 154 Fair value loss of convertible note ​ 4,240 ​ 26,506 ​ 116 Convertible note convert into shares ​ — ​ — ​ (20,420) Reversal of contingent consideration ​ (1,523) ​ — ​ — Share-based payment 35,463 27,528 7,514 Impairment of non-current assets ​ 313,959 ​ — ​ — Unrealised exchange difference ​ (373) ​ — ​ — Loss on disposal of associates — 2,920 220 Loss on disposal of subsidiaries (Note 30) 21,558 11,329 4,860 Loss on liquidation of subsidiaries ​ — ​ — ​ 373 Loss on ceased operation of subsidiaries ​ — ​ — ​ 813 ​ (166,120) 77,544 20,846 Changes in working capital: ​ ​ ​ - Inventories (800) (294) 12,272 - Trade receivables 3,849 1,302 (3,966) - Other receivables, deposits and prepayments 34,108 1,718 3,088 - Trade payables 4,543 16,394 28,019 - Accruals, other payables and provisions (52,018) (104,435) (9,283) - Contract liabilities 228,153 (66,728) 23,330 Cash flow from operating activities 51,715 (74,499) 74,306 ​ 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 2022 ​ (156,208) (77,607) ​ (28,278) ​ (105,754) (367,847) Cash flows (16,558) 48,497 ​ 926 ​ 6,450 39,315 As at 31 December 2022 (172,766) (29,110) ​ (27,352) ​ (99,304) (328,532) As at 1 January 2023 (172,766) ​ (29,110) ​ (27,352) ​ (99,304) ​ (328,532) Cash flows 98,833 ​ (2,300) ​ (11,318) ​ 5,906 ​ 91,121 As at 31 December 2023 (73,933) ​ (31,410) ​ (38,670) ​ (93,398) ​ (237,411) ​

Business combination

Business combination	12 Months Ended
	Dec. 31, 2023
Business combination
Business combination	29 (a) Shenzhen Miaoyan Aesthetic Medical Clinic On 30 May 2022, the Group acquired 100% of the share capital of Shenzhen Miaoyan Aesthetic Medical Clinic, an aesthetic medical treatment provider operating in the PRC at the cash consideration for RMB 1,000,000 and obtained control, which was then divested in the fourth quarter of 2022 due to its underperformance. The goodwill of RMB778,698 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 ​ ​ ​ Property, plant and equipment 2,832 Prepayments 430 Inventories ​ 348 Trade and other receivables 109 Cash and cash equivalents 119 Trade payables and other payables (3,617) Net identifiable assets acquired 221 Add: goodwill (Note 15) 779 Net assets acquired 1,000 ​ An analysis of net outflow of cash and cash equivalents in respect of the acquisition is as follows: ​ ​ ​ ​ ​ RMB’000 ​ ​ ​ Cash consideration (1,000) Other payables ​ 300 Cash and cash equivalents 119 Net outflow of cash and cash equivalents included in cash flows from investing activities (581) ​ Acquisition-related costs have been charged to general and administrative expenses in the consolidated statement of comprehensive income for the year ended 31 December 2022. For the year ended 31 December 2022, the revenue included in consolidated statement of the comprehensive income since 30 May 2022 contributed by Shenzhen Miaoyan Aesthetic Medical Clinic was approximately RMB1,113,000. Shenzhen Miaoyan Aesthetic Medical Clinic also contributed loss of approximately RMB1,223,000 over the same period, and de-registrated on 13 December 2022. The following table sets out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2022: ​ ​ ​ ​ ​ 2022 ​ RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 1,113 Loss after tax (1,223) ​

Disposals of subsidiaries

Disposals of subsidiaries	12 Months Ended
	Dec. 31, 2023
Disposals of subsidiaries
Disposals of subsidiaries	30 (a) Nanchang Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. In October 2022, the Group disposed of its entire equity interest in Nanchang Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. to a third party. Details of the net assets of Nanchang Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. disposed of and their financial impacts are summarised as follows: ​ ​ ​ ​ ​ RMB’000 Net assets disposed of: Property, plant and equipment 3,480 Deferred tax assets 1,449 Prepayments 306 Inventories 1,165 Trade and other receivables 298 Cash and cash equivalents — Trade payables and other payables ​ (5,005) Lease liabilities (7,496) Non-controlling interests 6,589 Net assets of subsidiary ​ 786 Gain on disposal of subsidiary ​ 2,214 Cash consideration ​ 3,000 ​ An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the Nanchang Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. is as follows: ​ ​ ​ ​ ​ 2022 ​ RMB’000 Cash received 1,500 Net cash inflow in respect of disposal of Nanchang Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. 1,500 ​ 30 (b) Changsha Peng’ai Aesthetic Medical Hospital Co., Ltd. In October 2022, the Group disposed of its entire equity interest in Changsha Peng’ai Aesthetic Medical Hospital Co., Ltd. to a third party. Details of the net assets of Changsha Peng’ai Aesthetic Medical Hospital Co., Ltd. disposed of and their financial impacts are summarised as follows: ​ ​ ​ ​ ​ RMB’000 Net assets disposed of: Property, plant and equipment 15,425 Goodwill ​ 176 Deferred tax assets 3,435 Prepayments 159 Inventories 1,843 Trade and other receivables 1,844 Cash and cash equivalents 52 Trade payables and other payables (7,461) Contract liabilities (51) Income tax liabilities (506) Lease liabilities (8,304) Non-controlling interest ​ 11,551 Net assets of subsidiary 18,163 Loss on disposal of subsidiary ​ (13,543) Cash consideration 4,620 ​ An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the Changsha Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. is as follows: ​ ​ ​ ​ ​ 2022 ​ RMB’000 Cash received 3,150 Cash and cash equivalents disposed of (52) Net cash inflow in respect of disposal of Changsha Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. 3,098 ​ ​ 30 Disposals of subsidiaries (Continued) (c) Shenzhen Miaoyan Medical Technology Investment Co., Ltd. In May 2023, the Group disposed of its entire equity interest in Shenzhen Miaoyan Medical Technology Investment Co., Ltd. to a third party. Details of the net assets of Shenzhen Miaoyan Medical Technology Investment Co., Ltd. disposed of and their financial impacts are summarised as follows: ​ ​ ​ ​ ​ ​ RMB’000 Net assets disposed of: ​ Property, plant and equipment (25) Intangible assets 6 Deferred tax assets 6 Prepayments 192 Investment in associate ​ 860 Trade and other receivables 20,294 Cash and cash equivalents 26 Trade payables and other payables (16,558) Contract liabilities ​ (13) Income tax liabilities 209 Reserve (5) Net assets of subsidiary 4,992 Loss on disposal of subsidiary (3,092) Cash consideration 1,900 ​ An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the subsidiary is as follows: ​ ​ ​ ​ ​ 2023 ​ ​ RMB’000 Cash received 1,900 Cash and cash equivalents disposed of (26) Net cash inflow in respect of disposal 1,874 ​ (d) Ningbo Beilun Pengai Aesthetic Medical Clinic Co., Ltd. In October 2023, the Group disposed of its entire equity interest in Ningbo Beilun Pengai Aesthetic Medical Clinic Co., Ltd. to a third party. Details of the net assets of Ningbo Beilun Pengai Aesthetic Medical Clinic Co., Ltd. disposed of and their financial impacts are summarised as follows: ​ ​ ​ ​ ​ ​ RMB’000 Net assets disposed of: Property, plant and equipment 543 Intangible assets 24 Trade and other receivables 508 Cash and cash equivalents 76 Trade payables and other payables (995) Net assets of subsidiary 156 Loss on disposal of subsidiary (156) Cash consideration — ​ 30 Disposals of subsidiaries (Continued) An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the subsidiary is as follows: ​ ​ ​ ​ ​ 2023 ​ ​ RMB’000 Cash received — Cash and cash equivalents disposed of (76) Net cash outflow in respect of disposal (76) ​ (e) Stargaze Wealth Limited. In December 2023, the Group disposed of its entire equity interest in Stargaze Wealth Limited. to a third party. Details of the net assets of Stargaze Wealth Limited. disposed of and their financial impacts are summarised as follows: ​ ​ ​ ​ ​ RMB’000 Net assets disposed of: ​ ​ Property, plant and equipment 842 Prepayments 1 Asset held-for-sale 1,083 Trade and other receivables 16,690 Cash and cash equivalents 974 Trade payables and other payables (18,114) Exchange reserve 136 Net assets of subsidiary 1,612 Loss on disposal of subsidiary (1,612) Cash consideration — ​ An analysis of the net outflow of cash and cash equivalents in respect of the disposal of the subsidiary is as follows: ​ ​ ​ ​ ​ 2023 ​ ​ RMB’000 Cash received — Cash and cash equivalents disposed of (974) Net cash outflow in respect of disposal (974) ​

Transactions with non-controlli

Transactions with non-controlling interests	12 Months Ended
	Dec. 31, 2023
Transactions with non-controlling interests
Transactions with non-controlling interests	31 During the year ended 31 December 2021, 2022 and 2023, the Group completed the following transactions with non-controlling interests and the impact is 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 2021 ​ ​ ​ ​ ​ ​ Acquisition of additional interests in a subsidiary: - Huizhou Pengai (Note a) (220) (140) (360) - Changsha Pengai (Note b) (715) 400 (315) ​ ​ ​ ​ ​ ​ ​ Disposal of interests in a subsidiary without loss of control: - Changsha Pengai (Note c) 3,575 (2,000) 1,575 ​ 2,640 (1,740) 900 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 2022 ​ ​ ​ ​ ​ ​ Acquisition of additional interests in a subsidiary: - Shenzhen Pengai Xiuqi(Note d) ​ (224) ​ (526) ​ (750) - Guangzhou Pengai (Note e) ​ 2,054 ​ (4,814) ​ (2,760) - Guangzhou Pengai Xiuqi (Note f) ​ 86 ​ (86) ​ — - Yantai Pengai (Note g) 288 (588) (300) ​ 2,204 (6,014) (3,810) ​ (a) 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 an 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%. ​ (b) 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 an 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%. ​ 31 Transactions with non-controlling interests (Continued) ​ (c) 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 a 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%. ​ (d) Acquisition of interest in Shenzhen Pengai Xiuqi ​ ​ ​ ​ ​ 2022 ​ RMB’000 Carrying amount of non-controlling interests acquired 224 Consideration paid to non-controlling interests (750) Excess of consideration paid to non-controlling interest recognised within equity (526) ​ On 30 May 2022, the Group purchased an additional 5% equity interest of Shenzhen Pengai Xiuqi at consideration of RMB750,000, which resulted in an increase in the Group’s equity interest in Shenzhen Pengai Xiuqi of 5%. (e) Acquisition of interest in Guangzhou Pengai ​ ​ ​ ​ ​ 2022 ​ RMB’000 Carrying amount of non-controlling interests acquired (2,054) Consideration paid to non-controlling interests (2,760) Excess of consideration paid to non-controlling interest recognised within equity (4,814) ​ On 15 June 2022, the Group purchased an additional 20% equity interest of Guangzhou Pengai at consideration of RMB2,760,000, which resulted in an increase in the Group’s equity interest in Guangzhou Pengai of 20%. (f) Acquisition of interest in Guangzhou Pengai Xiuqi ​ ​ ​ ​ ​ 2022 ​ RMB’000 Carrying amount of non-controlling interests acquired (86) Consideration paid to non-controlling interests — Excess of consideration paid to non-controlling interest recognised within equity (86) ​ On 20 June 2022, the Group’s a equity interest in Guangzhou Peng Ai Xiuqi changed from 55% to 70%, because of the increase in the Group’s equity interest in Guangzhou Pengai of 20%. ​ 31 Transactions with non-controlling interests (Continued) ​ (g) Acquisition of interest in Yantai Pengai ​ ​ ​ ​ ​ 2022 ​ ​ RMB’000 ​ ​ ​ Carrying amount of non-controlling interests acquired (288) Consideration paid to non-controlling interests (300) Excess of consideration paid to non-controlling interest recognised within equity (588) ​ On 12 July 2022, the Group purchased an additional 1% equity interest of Yantai Pengai at consideration of RMB 2,760,000

Share based compensation

Share based compensation	12 Months Ended
	Dec. 31, 2023
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”) and Performance Incentive Plan (the “Performance 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 2022 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- Weighted- ​ ​ Number of ​ average ​ average grant ​ ​ options ​ exercise price ​ date fair value ​ ​ ​ ​ RMB ​ RMB Outstanding as of 1 January 2022 ​ 1,270,445 ​ 0.007 ​ 28.01 Vested during the year (note) ​ (1,270,445) ​ ​ ​ ​ Outstanding as of 31 December 2022 — ​ — ​ — ​ 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 2023 have the following expiry date and exercise prices: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share options as of Grant date Expiry date Exercise price 31 December 2023 ​ ​ ​ ​ ​ ​ ​ 1 June 2019 ​ 31 May 2029 ​ US$0.001 ​ — Weighted average remaining contractual life of options outstanding at end of period: ​ ​ ​ ​ ​ Not applicable ​ Performance Incentive Plan was approved by the board of directors in September 2019. On July 29, 2022, the Company issued 1,927,793 new ordinary shares to certain employees, representing an aggregate 2.0% of the total number of outstanding ordinary shares, at nil consideration in accordance with the Performance Incentive Plan. A warrant that grants Seefar Global Holdings Limited the right to purchase from the Company 4,655,386 ordinary shares was issued by the Company to Seefar Global Holdings Limited pursuant to the Shareholders Agreement dated July 2022 on the date of Closing (as defined August 2023). 2,698,870 ordinary shares exercisable at any time after the first anniversary of the closing date under the warrant issued to Seefar Global Holdings Limited and 1,956,516 of which have been purchased upon the exercise of Seefar Global Holdings Limited on August 2023. The share-based compensation expenses of approximately RMB7,514,000 (2022:RMB27,528,000) 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, 2023
Summarised financial information of subsidiaries with material non-controlling interests
Summarised financial information of subsidiaries with material non-controlling interests	33 Set out below is the summarised financial information for each subsidiary that has non-controlling interests that are material to the Group. As at 31 December 2021, 2022 and 2023, the non-controlling interests attributable to these entities accounted for 21%, 40% and40% of the total non-controlling interests for the respective year end. Summarised balance sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huizhou Pengai ​ Shanghai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 17,024 23,004 33,060 13,772 14,761 20,587 - Liabilities (15,541) (17,145) (23,017) (46,764) (50,260) (56,395) Total current net assets/(liabilities) 1,483 5,859 10,043 (32,992) (35,499) (35,808) Non‑current ​ ​ ​ ​ ​ ​ - Assets 3,868 5,466 8,958 40,871 41,102 46,180 - Liabilities (733) (3,495) (9,167) (29,040) (29,174) (39,215) Total non‑current net assets 3,135 1,971 (209) 11,831 11,928 6,965 Net assets/(liabilities) 4,618 7,830 9,834 (21,161) (23,571) (28,843) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Xiuqi Pengai ​ Haikou Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current ​ ​ - Assets 10,252 ​ 8,773 ​ 19,509 4,546 4,510 5,339 - Liabilities (33,393) ​ (32,844) ​ (46,968) (23,484) (22,396) (25,022) Total current net liabilities (23,141) ​ (24,071) ​ (27,459) (18,938) (17,886) (19,683) Non‑current ​ ​ ​ ​ ​ ​ ​ ​ - Assets 26,429 ​ 30,261 ​ 36,573 18,964 15,295 12,256 - Liabilities — ​ — ​ (4,631) (5,808) (5,450) (4,640) Total non‑current net assets 26,429 ​ 30,261 ​ 31,942 13,156 9,845 7,616 Net assets/(liabilities) 3,288 ​ 6,190 ​ 4,483 (5,782) (8,041) (12,067) ​ ​ 33 Summarised balance sheets (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yantai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Current - Assets 3,753 2,909 3,441 - Liabilities (31,845) (25,394) (31,624) Total current net liabilities (28,092) (22,485) (28,183) Non-current - Assets 33,234 28,832 29,119 - Liabilities (17,086) (16,778) (17,088) Total non-current net assets 16,148 12,054 12,031 Net assets/(liabilities) (11,944) (10,431) (16,152) ​ Summarised statements of comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huizhou Pengai ​ Shanghai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 21,561 32,679 36,952 ​ 21,674 41,585 44,422 (Loss)/profit before income tax (8,222) 4,261 6,252 ​ (25,217) (3,213) (7,031) Income tax (expense)/credit 297 1,049 (1,563) ​ 1,347 (803) 1,758 (Loss)/profit and total comprehensive (loss)/income for the year (7,925) 3,212 4,689 ​ (23,870) (2,410) (5,273) Total comprehensive (loss)/income allocated to non‑controlling interests (2,734) 1,044 1,524 ​ (4,737) (482) (1,055) Dividend paid to non‑controlling interests 1,116 — 2,685 ​ — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Xiuqi Pengai ​ Haikou Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 28,251 ​ 37,106 ​ 51,431 24,134 30,474 32,421 (Loss)/Profit before income tax (19,411) ​ 3,871 ​ (2,776) (10,966) (2,946) (5,369) Income tax (expense)/credit 2,586 ​ 968 ​ 1,068 (84) (688) 1,342 (Loss)/Profit and total comprehensive (loss)/income for the year (16,825) ​ 2,903 ​ (1,708) (11,050) (2,258) (4,027) Total comprehensive (loss)/income allocated to non‑controlling interests (1,851) ​ 174 ​ (102) (1,436) (294) (523) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yantai Pengai ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Revenue 15,295 36,763 28,874 (Loss)/profit before income tax (21,773) 2,018 (8,099) Income tax (expense)/credit 1,795 505 2,378 (Loss)/profit and total comprehensive income/(loss) for the year (19,978) 1,513 (5,721) Total comprehensive (loss)/income allocated to non-controlling interests (2,198) 166 (286) ​ 33 Summarised statements of cash flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huizhou Pengai ​ Shanghai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from operations 1,217 (1,905) (1,127) 2,587 (11,224) (1,110) Income tax paid (211) (136) — (27) — — Net cash generated from/(used in) operating activities 1,006 (2,041) (1,127) 2,560 (11,224) (1,110) Net cash used in investing activities (589) (68) (2,955) (2,437) (20) (715) Net cash used in financing activities (18) 2,520 6,344 — 10,783 2,380 Net (decrease)/increase in cash and cash equivalents 399 411 2,262 123 (461) 555 Cash and cash equivalents at beginning of the year 296 695 1,106 461 584 123 Cash and cash equivalents at end of the year 695 1,106 3,368 584 123 678 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Xiuqi Pengai ​ Haikou Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities ​ Cash generated from/(used in) operations (1,419) ​ (81) ​ (3,492) 2,162 779 1,771 Income tax paid — ​ — ​ — (8) (50) (20) Net cash generated from/(used in) operating activities (1,419) ​ (81) ​ (3,492) 2,154 729 1,751 Net cash used in investing activities (767) ​ (13) ​ (997) (1,300) (594) (30) Net cash (used in)/generated from financing activities 2,880 ​ (505) ​ 8,817 (100) (586) — Net (decrease)/increase in cash and cash equivalents 694 ​ (599) ​ 4,328 754 (451) 1,721 Cash and cash equivalents at beginning of the year 9 ​ 703 ​ 104 222 976 525 Cash and cash equivalents at end of the year 703 ​ 104 ​ 4,432 976 525 2,246 ​ ​ 33 Summarised statements of cash flows (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yantai Pengai Jiayan 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Cash flows from operating activities ​ ​ ​ ​ ​ ​ Cash generated from operations 47 58 1,691 Income tax paid — — — Net cash generated from operating activities 47 58 1,691 Net cash used in investing activities — (115) (421) Net cash used in financing activities — (163) — Net increase/ (decrease) in cash and cash equivalents 47 (220) 1,270 Cash and cash equivalents at beginning of the year 514 561 341 Cash and cash equivalents at end of the year 561 341 1,611 ​

Commitments

Commitments	12 Months Ended
	Dec. 31, 2023
Commitments
Commitments	34 (a) 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 a 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 13. The future aggregate minimum lease payments under non-cancellable operating leases as follows: ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Not later than 1 year 20 15 ​ (b) Contingencies ​ Certain subsidiaries of the Company have been named as defendants in two litigations in the PRC. The maximum amount of the damages claimed by the plaintiffs amounted to an aggregate of approximately RMB25,251,000 (2022: RMB18,200,000). No restricted cash was reserved as at December 31, 2023.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2023
Related party transactions
Related party transactions	35 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 ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Depreciation, interest expense and building rental - A related company 1,890 1,567 Medical Equipment rental and transactions ​ ​ -A related company 5,942 2,910 ​ (b) Balances with related parties ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Current (Note i) Amounts due from related parties Amounts due from related companies 2,217 1,500 Amounts due from non‑controlling interests 656 656 ​ 2,873 2,156 ​ 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. (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: ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Basic salaries and bonus 15,609 13,545 Share based compensation ​ 27,528 ​ 7,514 Pension costs - defined contribution plans 319 273 ​ 43,456 21,332 ​ 35 (d) Personal guarantees from Dr. Zhou Pengwu, Dr. Zhou Yitao, Mr. Zhou Xichun and Ms. Ding Wenting and corporate guarantee from a related company controlled by Dr. Zhou Pengwu ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ 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 78,977 — Bank borrowings of the Group secured by personal guarantees from Ms. Wu Binhua ​ — ​ 41,746 Bank borrowings of the Group secured by personal properties from Dr. Zhou Pengwu and Ms. Ding Wenting ​ 32,805 ​ 16,060 ​

Particulars of the subsidiaries

Particulars of the subsidiaries	12 Months Ended
	Dec. 31, 2023
Particulars of the subsidiaries
Particulars of the subsidiaries	36 The following is a list of the principal subsidiaries at 31 December 2022 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Place of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ incorporation/ ​ Registered capital/ ​ ​ ​ Interest held Name ​ establishment ​ issued share capital ​ Principal activities ​ 2022 ​ 2023 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 % — % (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 RMB500,000,000 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 % — % (中國醫美控股(新加坡)有限公司) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shenzhen Pengcheng Hospital Co., Ltd. The PRC Registered capital of RMB85,000,000 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 RMB130,000,000 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 RMB100,000 Sales of cosmetic products 100 % — % (深圳市鵬愛美麗約定美容有限公司) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Haikou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB3,000,000 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 RMB6,000,000 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 RMB5,210,000 Provision of aesthetic medical services 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 RMB500,000 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 RMB20,000,000 ​ Provision of medical aesthetic technical consulting and management services ​ 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 ​ Investment holding and provision of management services ​ 100 % 100 % ​ ​ 36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Place of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ incorporation/ ​ Registered capital/ ​ ​ ​ Interest held Name ​ establishment ​ issued share capital ​ Principal activities ​ 2022 ​ 2023 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 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shanghai Pengai Aesthetic Medical Outpatient Department Co., Ltd. The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 80 % 80 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Newa Medical Aesthetics Limited Hong Kong 1,000,000 ordinary shares Provision of aesthetic medical services 100 % 100 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB18,800,000 Provision of aesthetic medical services 96 % 96 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd. ​ The PRC ​ Registered capital of RMB12,000,000 ​ Provision of aesthetic medical services ​ 89 % 94 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hangzhou Pengai E-commerce Co. (formerly known as Hangzhou Pengai Aesthetic Medical Clinic Co., Ltd.) ​ The PRC ​ Registered capital of RMB6,000,000 ​ Provision of aesthetic medical services ​ 100 % — % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shanghai Pengai Jiahong (formerly known as Shanghai Mingyue Yueji) Aesthetic Medical Outpatient Department Co., Ltd. ​ The PRC ​ Registered capital of RMB5,000,000 ​ Provision of aesthetic medical services ​ 64 % 64 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Guangzhou Pengai Xiuqi Aesthetic Medical Outpatient Department 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 ​ 70.1 % 73 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beijing Aomei Yixin Investment Consultant Co., 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 % 95 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beijing Aomei Yixin Investment Consultant Co., Ltd. Pengai (formerly known as Beijing Haiyue Xingguang) Aesthetic Medical Clinic (北京澳美醫信投資顧問有限公司鵬愛醫療美容診所) ​ The PRC ​ — ​ Provision of aesthetic medical services ​ 95 % 95 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 % 95 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shenzhen Ruimei Enterprise Management Co., Ltd. (深圳市睿美企業管理有限公司) ​ The PRC ​ Registered capital of RMB100,000 ​ Investment holding and provision of management services ​ — % 100 % ​

Additional information_ condens

Additional information: condensed financial statements of the Company	12 Months Ended
	Dec. 31, 2023
Additional information: condensed financial statements of the Company
Additional information: condensed financial statements of the Company	37 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, 2022 and 2023, 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. 37 Condensed balance sheets of the parent company ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 ASSETS Non ‑ current assets Investments in subsidiaries and due from subsidiaries — — Current assets ​ ​ Other receivables, deposits and prepayments — — Cash and cash equivalents 84 52 ​ 84 52 Total assets 84 52 EQUITY AND LIABILITIES ​ ​ Equity attributable to owners of the Company ​ ​ Share capital and treasury shares (1,397) (1,134) Other reserves (72,728) (26,649) Total equity (74,125) (27,783) LIABILITIES ​ ​ Non ‑ current liabilities ​ ​ Convertible note — — ​ — — Current liabilities ​ ​ Accruals, other payables and provisions 9,644 8,329 Convertible note ​ 64,565 ​ 19,506 ​ ​ 74,209 ​ 27,835 Total liabilities 74,209 27,835 Total equity and liabilities 84 52 ​ ​ 37 Condensed statements of comprehensive income of the parent company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 Loss from subsidiaries (469,724) (30,294) (26,521) Selling expenses (511) — — General and administrative expenses (47,188) (34,575) (14,089) Finance income — 5,269 — Finance costs (338) — (528) Other loss, net ​ (6,968) ​ (7) ​ 20,420 Fair value loss of convertible note (4,240) (26,506) (116) Loss before income tax (528,969) (86,113) (20,834) Income tax expense — — — Loss for the year (528,969) (86,113) (20,834) Other comprehensive income/(loss): Items that may be subsequently reclassified to profit or loss Currency translation differences 574 (665) (791) Total other comprehensive income/(loss) for the year, net of tax 574 (665) (791) Total comprehensive loss for the year (528,395) (86,778) (21,625) ​ Condensed statements of cash flows of the parent company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 Net cash used in operating activities (6,250) (88,987) (170,915) Net cash used in investing activities — — — Net cash generated from financing activities — 94,153 170,883 Net increase/(decrease) in cash and cash equivalents (6,250) (5,166) (32) Cash and cash equivalents at beginning of the year 11,500 5,250 84 Cash and cash equivalents at end of the year 5,250 84 52 ​

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2023
Subsequent events
Subsequent events	38 Subsequent events Regarding the consideration of RMB1.77 million generated from the disposal of the Changsha Peng’ai Aesthetic Medical Hospital Co., Ltd., in 2024, the Company collected RMB300,000 according to the negotiation, resulting in a loss of 1.47 million.

Material accounting policies (P

Material accounting policies (Policies)	12 Months Ended
	Dec. 31, 2023
Material accounting policies
Basis of preparation	2.1 The consolidated financial statements of the Group 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, investment properties and assets held for sale, which were carried at fair value. Going Concern The consolidated financial statements of the Group have been prepared assuming that the Group 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 of RMB39,922,000 for the year ended 31 December 2023. As of 31 December 2023, the Group had net current liabilities of RMB299,810,000 and net assets of RMB33,629,000. These factors raise substantial doubt about the Group’s ability to continue as a going concern. Besides continuing to negotiate with the banks, the Group is evaluating several measures of financing, such as external financings,which will also be considered. Currently, the Group intends to raise loans from financial institutions and potential funders to maintain its normal operations. The Group’s ability to continue as a going concern is primarily dependent on the Group’s ability to arrange adequate financing arrangements and generate cash flows from its operations. The Group closed its private placement with Hainan Oriental Jiechuang Investment Partnership (“Jiechuang”) for aggregate gross proceeds of RMB170 million in February 2023 and utilized the money to fund its business development and working capital. Ms. Wu Binhua, the director of the Company, signed a letter of continuing financial support with the Group, in which she undertakes to enable the Group to meet its liabilities and obligations as and when they fall due, for at least 12 months from the date of 20-F for the year ended December 31, 2023. In addition to the aforementioned financial support, Ms. Wu Binhua also leverages her corporate management and talent training advantages to optimize the operations of the Group.
Changes in accounting policy and disclosures	2.2 On 1 January 2023, the Group has adopted the new or amended IFRS and interpretations issued by the IFRS lnterpretations Committee (IFRS lC) that are mandatory for application for the financial year. Changes to the Group's accounting policies have been made as required, in accordance with the transitional provisions in the respective IFRS and IFRS IC. The adoption of these new or amended IFRS and IFRS IC did not result in substantial changes to the Group's accounting policies and had no material effect on the amounts reported for the current or prior financial years.
Subsidiaries	2.3 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 a assumed from 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. As of December 31, 2023, 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu, as the borrower. Pursuant to each of these loan agreements, Shenzhen Pengai Investment agrees to extend a loan to Mr. Zhou Qiuming or Dr. Zhou Pengwu in an equivalent amount to the purchase price to be paid by Mr. Zhou Qiuming or Dr. Zhou Pengwu for acquiring the Target Equity Interests. Pursuant to each of these loan agreements, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu under each loan agreement is deemed fully discharged. (iii). Exclusive option agreement Mr. Zhou Qiuming or Dr. Zhou Pengwu, Shenzhen Pengai Investment and each of the Relevant Subsidiaries entered into certain exclusive option agreements. Pursuant to these exclusive option agreements, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu increases his capital injection into the Relevant Subsidiaries, Mr. Zhou Qiuming or 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 Mr. Zhou Qiuming or Dr. Zhou Pengwu is transferred or assigned to Shenzhen Pengai Investment or its designated person(s). (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 powers 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: ● revoke the Contractual Arrangements; ● impose fines, confiscating the income from the Relevant Subsidiaries, or imposing other requirements with which the Company may not be able to comply; ● discontinue or restrict the Company’s operations in the PRC; ● impose conditions or requirements with which the Company may not be able to comply; or ● take other regulatory or enforcement actions that could be harmful to the Company’s business. 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	2.4 An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investments in associates are accounted for using the equity method of accounting. Under the equity method, the investment is initially recognised at cost, and the carrying amount is increased or decreased to recognise the Company’s share of the comprehensive income of the investee after the date of acquisition. The Group’s investments in associates include goodwill identified on acquisition. Upon the acquisition of the ownership interest in an associate, any difference between the cost of the associate and the Group’s share of the net fair value of the associate’s identifiable assets and liabilities is accounted for as goodwill. 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. 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. 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 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 (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. (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 convertible note and exchangeable note liabilities were recorded in “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 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. 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: ​ - Buildings ​ 20 - 50 years - Leasehold improvements Shorter of remaining lease term and the estimated useful lives of the assets - Machinery and equipment ​ 10 years - Office equipment, furniture, fixture and motor vehicles ​ 5 - 10 years - Right of use assets ​ Shorter of the asset’s useful life and the lease term on a straight-line basis ​ 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 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 fair value basis and its movement will be reviewed annually. If an owner-occupied property becomes an investment property because its use has changed, any difference resulting between the carrying amount and the fair value of this property at the date of transfer is recognised in equity as a revaluation of property, plant and equipment. However, if the fair value of the property at the date of transfer which results in a reversal of the previous impairment loss, the write-back is recognised in the consolidated income statement. 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 (a) Goodwill Goodwill arising 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. 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 15 for the goodwill impairment charges recognised in the 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
Impairment of non-financial asset	2.10 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 2.11.1 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 Group’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. 2.11 2.11.1 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 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: ● Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. A gain or loss on a debt investment that is subsequently measured at amortised cost and is not part of a hedging relationship is recognised in the consolidated statement of profit or loss when the asset is derecognised or impaired. Interest income from these financial assets is included in finance income using the effective interest rate method. ● Fair value through profit or loss: Assets that do not meet the criteria for amortised cost or financial assets at fair value through other comprehensive income are measured at fair value through profit or loss. A gain or loss on a debt investment that is subsequently measured at fair value through profit or loss and is not part of a hedging relationship is recognised in profit or loss and presented net in ‘other gains, net’ in the period in which it arises. 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 assets 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 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	2.12 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 The Group has the following types of financial assets subject to IFRS 9’s expected credit loss model: ● Trade receivables ● Other receivables and deposits ● Cash and cash equivalents ● Amounts due from related parties 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 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 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) 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	2.17 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 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 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 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. 2.20 Current and deferred income tax (Continued) (a) Current income tax 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) 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	2.21 (a) Pension obligations 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) Profit-sharing and bonus plans 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) Share based compensation 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 a 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 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 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. 2.23 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: ● direct measurements of the value transferred by the Group to the customer; or ● the Group’s efforts or inputs to the satisfaction of 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) exceeds 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 2022 and 2023 for which customers pay in advance. The packages can be utilized for one year from the effective date. If the package has not been used within one year time period, any payment received is recorded as a contract liability in the consolidated balance sheet. Revenue is recognised at a point in time when the respective services are rendered or a contract lability has been fulfilled. For certain aesthetic medical services package issued in 2022 and 2023, revenue is recognised over time according to the proportion of the services performed as compared to the total services offered. (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 the utilisation pattern of contract liabilities and treatment progress of individual customers on a regular basis to determine full recognition of the corresponding contract liabilities in the consolidated statement of comprehensive income.
Interest income	​ 2.24 Interest income is recognised using the effective interest method.
Leases	2.25 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: ● fixed payments (including in-substance fixed payments), less any lease incentives receivable; and ● payments of penalties for terminating the lease, if the lease reflects the lessee exercising that option The lease payments are discounted using the interest rate implicit in the lease, if that rate can be determined, or the Group’s incremental borrowing rate. Right-of-use assets are measured at cost comprising the following: ● the amount of the initial measurement of lease liability; ● any lease payments made at or before the commencement date less any lease incentives received; and ● any initial direct costs 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 of less than 12 months.
Compound financial instruments	2.26 Compound financial instruments of the Group is convertible note. Convertible notes in 2020 The Group designated the convertible note as a financial liability 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 the consolidated statement of comprehensive income. The convertible note is classified as a non-current liability unless the Group has an obligation to settle the liability within 12 months after the end of the reporting period. For the convertible note issued in 2020, 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 27. Reference is made to the press release of the Company filed with the Securities and Exchange Commission (the “SEC”) on July 20, 2022, form 6-K of the Company filed with the SEC on February 16, 2023 and form 6-K of the Company filed with the SEC on August 17, 2023 (collectively, “Previous Disclosure”). Further to its Previous Disclosure, the Company has closed its previously announced the issue of a total number of 12,088,808 ordinary shares of the Company to ADV at a conversion price of US dollars equivalent of RMB4.203 per ordinary share on August 16, 2023 pursuant to the Note issued to ADV on September 17, 2020 and the cooperation agreement between ADV and its affiliate, the Company, Dr. Zhou Pengwu, Ms. Ding Wenting, Wanda and Jiechuang dated July 20, 2022.
Dividend distribution	2.27 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.

Material accounting policies (T

Material accounting policies (Tables)	12 Months Ended
	Dec. 31, 2023
Material accounting policies
Summary of estimated useful lives of property, plant and equipment	​ - Buildings ​ 20 - 50 years - Leasehold improvements Shorter of remaining lease term and the estimated useful lives of the assets - Machinery and equipment ​ 10 years - Office equipment, furniture, fixture and motor vehicles ​ 5 - 10 years - Right of use assets ​ Shorter of the asset’s useful life and the lease term on a straight-line basis

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure Of Fair Value Of Assets And 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 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2022 Borrowings 172,766 ​ 24,533 ​ 4,577 ​ — ​ 201,876 Convertible note ​ 64,565 ​ — ​ — ​ — ​ 64,565 Lease liabilities ​ 34,444 ​ 33,832 ​ 51,865 ​ 30,902 ​ 151,043 Trade payables 46,752 ​ — ​ — ​ — ​ 46,752 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) 17,001 ​ — ​ — ​ — ​ 17,001 ​ 335,528 ​ 58,365 ​ 56,442 ​ 30,902 ​ 481,237 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Borrowings ​ 78,886 ​ 18,112 ​ 14,670 ​ — ​ 111,668 Convertible note ​ 19,506 ​ — ​ — ​ — ​ 19,506 Lease liabilities ​ 38,670 ​ 32,852 ​ 40,012 ​ 20,534 ​ 132,068 Trade payables ​ 42,402 ​ — ​ — ​ — ​ 42,402 Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received) ​ 14,428 ​ — ​ — ​ — ​ 14,428 ​ ​ 193,892 ​ 50,964 ​ 54,682 ​ 20,534 ​ 320,072
Summary of gearing ratios	​ ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ ​ RMB’000 ​ RMB’000 ​ Total borrowings 201,876 ​ 105,343 ​ Add: Convertible note (Note 27) 64,565 ​ 19,506 ​ Less: Cash and cash equivalents (Note 19) (12,161) ​ (62,336) ​ Restricted cash (Note 19) ​ (1,547) ​ — ​ Net debt 252,733 ​ 62,513 ​ Total equity (125,880) ​ 33,629 ​ Total capital 126,853 ​ 96,142 ​ Gearing ratio 199.23 % 64.26 %
Summary of financial liabilities that are measured at fair value	The following table presents the Group’s financial assets and liabilities that are measured at fair value as at 31 December 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Level 1 Level 2 Level 3 Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 As at 31 December 2023 Assets ​ ​ ​ ​ ​ ​ ​ ​ Investment properties (Note 14) ​ — ​ — ​ 22,911 ​ 22,911 ​ ​ — ​ — ​ 22,911 ​ 22,911 Liabilities ​ ​ ​ ​ Financial liabilities at fair value through profit or loss ​ ​ ​ ​ - Convertible note (Note 27) — ​ — ​ 19,506 ​ 19,506 ​ — ​ — ​ 19,506 ​ 19,506
Level 3
Disclosure Of Fair Value Of Assets And 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 2022: ​ ​ ​ ​ ​ ​ ​ ​ Convertible note ​ ​ ​ ​ (Note 27) ​ Total ​ ​ RMB’000 ​ RMB’000 Opening balance 38,059 38,059 Change in fair value 26,506 26,506 Closing balance 64,565 64,565 The following table presents the changes in level 3 liability instrument for the year ended 31 December 2023: ​ ​ ​ ​ ​ ​ ​ ​ Convertible note ​ ​ ​ ​ (Note 27) ​ Total ​ RMB’000 RMB’000 Opening balance 64,565 64,565 Converted into shares ​ (45,175) ​ (45,175) Change in fair value ​ 116 ​ 116 Closing balance 19,506 19,506 ​

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue
Summary of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Non-surgical aesthetic medical services 334,248 482,285 474,874 Surgical aesthetic medical services 243,070 132,628 143,057 General healthcare services and other aesthetic medical services 68,275 55,178 64,656 ​ 645,593 670,091 682,587 ​

Expenses by nature (Tables)

Expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2023
Expenses by nature
Summary of expenses by nature	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Employee benefit expenses (Note 7) 309,250 234,142 221,971 Advertising and marketing expenses 255,534 132,202 164,236 Cost of inventories and consumables 174,991 160,152 204,881 Operating lease rental expenses 15,836 12,822 9,374 Amortisation and depreciation 99,135 61,485 65,897 Utilities and office expenses 76,579 39,085 38,329 Travelling and entertainment expenses 12,818 7,009 8,451 Bank charges 3,213 4,035 4,890 Loss on disposal of property, plant and equipment — 20,465 — Legal and professional fees 30,570 14,743 11,355 Other expenses 9,820 5,218 2,015 ​ 987,746 691,358 731,399 ​

Employee benefit expenses (Tabl

Employee benefit expenses (Tables)	12 Months Ended
	Dec. 31, 2023
Employee benefit expenses
Summary of employee benefit expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Wages and salaries 250,773 183,193 198,988 Share-based compensation expenses ​ 35,463 ​ 27,528 ​ 7,514 Pension costs - defined contribution plans 16,942 15,651 10,616 Other staff welfare expenses 6,072 7,770 4,853 ​ 309,250 234,142 221,971 ​

Finance income and costs (Table

Finance income and costs (Tables)	12 Months Ended
	Dec. 31, 2023
Finance income and costs
Summary of finance income and costs	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Finance costs Interest expense on bank borrowings ​ (7,844) ​ (579) ​ (4,105) Interest expense on other borrowings ​ (6,542) ​ (12,375) ​ (4,511) Interest expense on lease liabilities (12,844) (8,681) (5,858) ​ (27,230) (21,635) (14,474) Finance income ​ ​ ​ Interest income on short-term bank deposits 113 155 78 Finance costs – net (27,117) (21,480) (14,396) ​

Income tax expense (Tables)

Income tax expense (Tables)	12 Months Ended
	Dec. 31, 2023
Income tax expense
Summary of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Current tax PRC enterprise income tax 8,208 3,308 1,000 Deferred tax ​ ​ ​ PRC enterprise income tax previous years ​ — ​ — ​ (5,890) Origination and reversal of temporary differences (Note 23) (20,006) (21,375) (10,246) Income tax credit (11,798) (18,067) (15,136)
Summary of taxation on the Groups loss before income tax differs from the theoretical amount that would arise using the taxation rate of PRC	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Loss before income tax (681,314) (94,173) (55,058) Calculated at a taxation rate of 25% ​ (170,329) (23,543) (13,765) Expenses not tax deductible 42,450 7,223 4,121 Tax losses not recognized 117,454 5,531 1,124 Difference in overseas tax rates (304) (400) (364) Over‑provision in respect of prior years (1,069) (6,878) (6,252) Income tax expense/(credit) (11,798) (18,067) (15,136)

Loss per share (Tables)

Loss per share (Tables)	12 Months Ended
	Dec. 31, 2023
Loss per share
Summary of computation of basic and diluted profit/(loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Numerator: ​ Loss attributable to owners of the Company – basic (586,619) (76,247) (37,432) Loss attributable to owners of the Company – diluted (586,619) (76,247) (37,432) Shares (denominator): ​ ​ ​ Weighted average number of shares – basic 65,960,235 81,911,577 131,658,595 Weighted average number of shares – diluted 65,960,235 81,911,577 131,658,595 Loss per share – basic (RMB) (8.89) (0.93) (0.28) Loss per share – diluted (RMB) (Note i) (8.89) (0.93) (0.28) ​ Note i As the Group incurred losses for the years ended 31 December 2022 and 2023, share option and the conversion of convertible note would be anti-dilutive and therefore, related changes in fair value are 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 2022 and 2023.

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2023
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 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount 57,236 109,836 66,220 5,009 120,448 358,749 Additions ​ 105 ​ 20,861 ​ 11,509 ​ 2,999 ​ 70,177 ​ 105,651 Disposal — — (930) (1,211) (22,381) (24,522) Disposal of subsidiaries (Note 30) — (23,469) (2,900) (340) (14,161) (40,870) Depreciation charges (3,305) (13,845) (12,364) (1,421) (30,156) (61,091) Transfer to Investment Properties ​ (17,101) ​ — ​ — ​ — ​ — ​ (17,101) Closing net book amount 36,935 93,383 61,535 5,036 123,927 320,816 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended 31 December 2022 ​ ​ ​ ​ ​ ​ At 31 December 2022 ​ ​ ​ ​ ​ ​ Cost 37,021 289,207 131,668 25,663 214,787 698,346 Accumulated depreciation and impairment (86) (195,824) (70,133) (20,627) (90,860) (377,530) Net book amount 36,935 93,383 61,535 5,036 123,927 320,816 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount 36,935 ​ 93,383 ​ 61,535 ​ 5,036 ​ 123,927 ​ 320,816 Additions ​ 1,539 ​ 15,270 ​ 20,428 ​ 3,455 ​ 14,552 ​ 55,244 Disposal — ​ — ​ (3,881) ​ (251) ​ (184) ​ (4,316) Disposal of subsidiaries (Note 30) — ​ (417) ​ (1,699) ​ (86) ​ — ​ (2,202) Depreciation charges (1,983) ​ (22,001) ​ (16,269) ​ (1,644) ​ (23,426) ​ (65,323) Closing net book amount 36,491 ​ 86,235 ​ 60,114 ​ 6,510 ​ 114,869 ​ 304,219 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost 38,560 ​ 304,053 ​ 127,559 ​ 26,772 ​ 223,076 ​ 720,021 Accumulated depreciation and impairment (2,069) ​ (217,818) ​ (67,445) ​ (20,262) ​ (108,207) ​ (415,802) Net book amount 36,491 ​ 86,235 ​ 60,114 ​ 6,510 ​ 114,869 ​ 304,219 ​

Lease (Tables)

Lease (Tables)	12 Months Ended
	Dec. 31, 2023
Lease
Schedule of amounts recognised in the consolidated balance sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ As at As at As at ​ ​ 31 December ​ 31 December ​ 31 December ​ ​ 2021 ​ 2022 ​ 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Lease liabilities ​ ​ Current 28,278 ​ 27,352 35,465 Non-current 105,754 ​ 99,304 84,236 ​ 134,032 ​ 126,656 119,701
Schedule of amounts recognised in the statements of comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Interest expense (included in finance costs) (Note 8) 12,844 8,681 5,858 Expense relating to short-term leases (included in cost of goods sold and administrative expenses) 15,836 12,822 9,374

Investment properties (Tables)

Investment properties (Tables)	12 Months Ended
	Dec. 31, 2023
Investment properties
Schedule of investment properties	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Fair value At 1 January — 23,065 Transfer from property, plant and equipment 23,065 — Fair value loss of investment properties ​ — ​ (154) At 31 December 23,065 22,911
Schedule of amounts recognised in consolidated income statements for investment properties	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 RMB’000 Rental income — — ​ 240

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2023
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 2022 ​ ​ ​ ​ ​ ​ ​ Opening net book amount 33,175 ​ 713 ​ — 3,350 37,238 Additions — ​ 606 ​ — — 606 Disposal ​ — ​ (3) ​ — ​ — ​ (3) Business combination (Note 29) 779 ​ — ​ — — 779 Disposal of subsidiaries (Note 30) (955) ​ — ​ — — (955) Amortisation — ​ (395) ​ — — (395) Closing net book amount ​ 32,999 ​ 921 ​ — ​ 3,350 ​ 37,270 At 31 December 2022 ​ ​ ​ ​ ​ ​ ​ Cost 54,213 ​ 12,813 ​ 9,585 5,039 81,650 Impairment ​ (21,214) ​ (3,954) ​ — ​ (719) ​ (25,887) Accumulated amortisation — ​ (7,938) ​ (9,585) (970) (18,493) Net book amount 32,999 ​ 921 ​ — 3,350 37,270 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended 31 December 2023 ​ ​ ​ ​ ​ ​ ​ Opening net book amount 32,999 ​ 921 ​ — ​ 3,350 ​ 37,270 Additions — ​ 215 ​ — ​ — ​ 215 Disposal of subsidiaries — ​ (30) ​ — ​ — ​ (30) Amortisation — ​ (347) ​ — ​ (227) ​ (574) Closing net book amount ​ 32,999 ​ 759 ​ — ​ 3,123 ​ 36,881 At 31 December 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost 54,213 ​ 12,809 ​ 9,585 ​ 5,040 ​ 81,647 Impairment ​ (21,214) ​ (3,954) ​ — ​ (719) ​ (25,887) Accumulated amortisation — ​ (8,096) ​ (9,585) ​ (1,198) ​ (18,879) Net book amount 32,999 ​ 759 ​ — ​ 3,123 ​ 36,881 ​ Note: Goodwill of RMB779,000 arose from acquisitions of subsidiaries in 2022 and nil in 2023. 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	​ ​ ​ ​ ​ ​ ​ 2022 2023 Annual compound revenue growth rate 6.0% ~ 10.0% 6.0% ~ 10.0% Annual gross profit ratio 53.8% ~ 65% 47.0% ~ 62.0% Discount rate 5.7% 5.7%

Investments accounted for usi_2

Investments accounted for using the equity method (Tables)	12 Months Ended
	Dec. 31, 2023
Investments accounted for using the equity method
Schedule of changes in investments accounted for using the equity method	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 At 1 January 4,904 1,160 Acquisition 860 — Disposal ​ (600) ​ (1,160) Transfer to assets held-for-sale ​ (4,004) ​ — At 31 December 1,160 — ​
Schedule of nature of investments in associates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Place of ​ % of ownership ​ Nature of the ​ Measurement Name of entity establishment 2022 2023 relationship method Moyan (Shenzhen) Network Technology Co., Ltd. The PRC 46 % — % Note 1 Equity (美約(深圳)網路技術有限公司) ​ 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 2 Equity Shenzhen Pengai Lizhi Aesthetic Medical Clinic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ （深圳鹏爱荔枝医疗美容诊所） ​ The PRC ​ 43 % — % Note 3 ​ Equity ​ Note 1: Moyan (Shenzhen) Network Technology Co., Ltd. (“Moyan”) was engaged in internet marketing services. This entity was deregistered in September 2023. Note 2: Shenzhen Huayanyuese Health Management Consulting Co., Ltd. was engaged in investment holding and provision of management services. This entity was divested in April 2023. Note 3:
Schedule of summarised financial information for associates	Summarised balance sheet ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Current Cash and cash equivalents 33 — Other current assets (excluding cash and cash equivalents) 4,611 — Total current assets 4,644 — Financial liabilities (excluding trade payables) — — Other current liabilities (including trade payables) (2,654) — Total current liabilities (2,654) — Total non-current assets 300 — Net assets 2,290 — Summarised statement of comprehensive income ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Revenue — — Depreciation and amortisation — — Interest expense — — Loss before income tax — — Income tax expense — — Loss for the year — —

Trade and other receivables, _2

Trade and other receivables, deposits and prepayments (Tables)	12 Months Ended
	Dec. 31, 2023
Trade and other receivables, deposits and prepayments
Schedule of Trade receivables, Other Receivables, deposits and prepayments	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Trade receivables 6,193 9,841 ​ ​ ​ ​ ​ Other receivables 1,460 923 Deposits 17,976 7,342 Prepayments 31,030 20,450 Advances to employees 720 1,086 ​ 51,186 29,801 Less: Non-current portion ​ ​ Prepayments and deposits (25,299) (8,146) Current portion 25,887 21,655

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventories
Inventories	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Pharmaceuticals 1,304 789 Medical consumables 26,549 14,792 ​ 27,853 15,581

Restricted cash and cash and _2

Restricted cash and cash and bank balances (Tables)	12 Months Ended
	Dec. 31, 2023
Restricted cash and cash and bank balances
Schedule of cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Restricted cash 1,547 — ​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Cash and cash equivalents Cash at banks 12,138 62,320 Cash on hand 23 16 Total 12,161 62,336 ​
Schedule of cash and cash equivalents for consolidated statement	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Cash and cash equivalents 12,161 62,336
Schedule of cash and cash equivalents denominated in currencies	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 RMB 10,857 62,278 US dollars 96 47 Hong Kong dollars 5 11 Singapore dollars 2,750 — ​ 13,708 62,336

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Dec. 31, 2023
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 2020, 31 December 2020, 1 January 2021, 31 December 2021, 1 January 2022, 31 December 2022, 1 January 2023 and 31 December 2023 1,500,000,000 ​ 1,500 ​ 10,599 Issued and paid: ​ ​ ​ ​ ​ As at 31 December 2021 and 1 January 2022 70,838,671 ​ 72 ​ 469 Issuance of shares to Hawyu (HK) Limited (Note i) ​ 21,413,276 ​ 21 ​ 144 Issuance of shares under Performance Incentive Plan (Note ii) ​ 1,927,793 ​ 2 ​ 13 As at 31 December 2022 * ​ 94,179,740 ​ 94 ​ 626 Issuance of shares to MY Universe (HK) Limited (Note iii) ​ 36,402,570 ​ 36 ​ 250 Issuance of shares to Peak Asia Investment Holdings V Limited (Note iv) ​ 12,088,808 ​ 12 ​ 88 Issuance of shares to Seefar Global Holdings Limited (Note v) ​ 1,956,516 ​ 2 ​ 14 As at 31 December 2023 ** ​ 144,627,634 ​ 145 ​ 978 ​ Note i: In May 2021, we entered into definite share subscription agreement for the issuance of 5,329,410 ordinary shares to Lafang China Co., Ltd. (“Lafang”), a daily consumer products producer in China, at a sale price of US$8.50 for every three ordinary shares (equivalent to US$8.50 per American Depositary Share of the Company), which amounted to US$15.1 million in proceeds. In May 2022, we entered into an amendment to the above share subscription agreement with Lafang. Pursuant to this amendment, we issued 21,413,276 ordinary shares to Hawyu (HK) Limited, a wholly-owned subsidiary of Lafang, at a sale price of RMB4.67 per ordinary share (equivalent to approximately US$2.1 per American Depositary Share based on the exchange rate as of 31 May 2022), which amounted to RMB100 million (US$15 million) in proceeds. The private placement was closed in July 2022. We utilized the money from this private placement to fund our business development and working capital. Note ii: On 29 July 2022, the Company issued 1,927,793 new ordinary shares to certain employees, representing an aggregate 2.0% of the total number of outstanding ordinary shares, at nil consideration in accordance with the 2019 Performance Incentive Plan proposed in September 2019. The purpose of this share option plan is to recognize contributions made by key employees on the negotiation and execution of the financing with Lafang China Co., Ltd. and Jiechuang, as well as to provide an incentive to retain a long-term relationship with the Company under the alignment of interests . Note iii: Reference is made to the 6-K report of the Company filed with the SEC on February 16, 2023. Further to its press release on July 20, 2022, the Company has closed its previously announced private placement offering through the issuance and allotment of 36,402,570 new ordinary shares of the Company (the “Subscription Shares”) to MY Universe (HK) Limited as designated by Hainan Oriental Jiechuang Investment Partnership (Limited Partnership) at a price of RMB 4.67 per Subscription Share for the aggregate gross proceeds of RMB 170 million. Note iv: Reference is made to the press release of the Company filed with the Securities and Exchange Commission (the “SEC”) on July 20, 2022, form 6-K of the Company filed with the SEC on February 16, 2023 and form 6-K of the Company filed with the SEC on August 17, 2023 (collectively, “Previous Disclosure”). Further to its Previous Disclosure, the Company has closed its previously announced the issue of a total number of 12,088,808 ordinary shares of the Company to ADV at a conversion price of US dollars equivalent of RMB4.203 per ordinary share on August 16, 2023 pursuant to the Note issued to ADV on September 17, 2020 and the cooperation agreement between ADV and its affiliate, the Company, Dr. Zhou Pengwu, Ms. Ding Wenting, Wanda and Jiechuang dated July 20, 2022. As of December 31, 2023, the Company has no convertible note outstanding. Note v: Further to the Company’s Previous Disclosure mentioned in Note iv, Seefar Global Holdings Limited exercised its warrants, converting them into 1,956,516 ordinary shares of the Company on August 18, 2023. * The treasury shares as of December 31, 2022 were 135,000 ordinary shares, represented by 45,000 ADSs repurchased in 2020 pursuant to the Company’s repurchase program in October 2020.
Schedule of treasury shares	​ ​ ​ ​ ​ ​ ​ Number of ​ ​ ​ shares ​ RMB’000 As at 31 December 2020, 1 January 2021, 31 December 2021, 1 January 2022, 31 December 2022, 1 January 2023 ​ 135,000 ​ 2,023 Options outstanding under the Share Incentive Plan ​ 1,128,750 ​ — As at 31 December 2023 ​ 1,263,750 ​ 2,023 Note i: 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, 2023
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 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2021 and 1 January 2022 ​ 707,890 ​ (10,000) ​ 42,777 ​ 230,177 ​ (61,433) ​ 909,411 Translation of foreign operations ​ — ​ — ​ — ​ — ​ (665) ​ (665) Revaluation of investment properties upon transfer from property, plant and equipment ​ — ​ — ​ — ​ — ​ 5,964 ​ 5,964 Deregister of subsidiary ​ 17 ​ — ​ — ​ — ​ — ​ 17 Partial disposal of interests in a subsidiary without loss of control (Note 31) ​ — ​ — ​ — ​ — ​ (2,613) ​ (2,613) Issuance of shares ​ 94,153 ​ — ​ — ​ — ​ (144) ​ 94,009 Transaction costs related to issuance of shares ​ (5,128) ​ — ​ — ​ — ​ — ​ (5,128) Share-based payment reserve ​ — ​ — ​ — ​ 27,515 ​ — ​ 27,515 At 31 December 2022 ​ 796,932 ​ (10,000) ​ 42,777 ​ 257,692 ​ (58,891) ​ 1,028,510 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At 31 December 2022 and 1 January 2023 ​ 796,932 ​ (10,000) ​ 42,777 ​ 257,692 ​ (58,891) ​ 1,028,510 Translation of foreign operations ​ — ​ — ​ — ​ — ​ (790) ​ (790) Revaluation of investment properties ​ — ​ — ​ — ​ — ​ (1,498) ​ (1,498) Disposal of subsidiary ​ — ​ — ​ (5) ​ — ​ — ​ (5) Share-based payment reserve ​ — ​ — ​ — ​ 7,500 ​ — ​ 7,500 Addition of paid-in capital ​ 170,001 ​ — ​ — ​ — ​ — ​ 170,001 Convertible note convert into shares ​ 24,417 ​ — ​ — ​ — ​ — ​ 24,417 At 31 December 2023 ​ 991,350 ​ (10,000) ​ 42,772 ​ 265,192 ​ (61,179) ​ 1,228,135

Deferred income tax (Tables)

Deferred income tax (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred income tax
Schedule of gross tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 The deferred tax assets comprise attributable to: ​ ​ - Tax losses 60,002 76,572 - Other temporary differences ​ 1,161 ​ 366 ​ ​ 61,163 ​ 76,938 The deferred tax liabilities comprise temporary differences attributable to: ​ ​ - Others ​ — ​ (9) ​ ​ — ​ (9)
Schedule of deferred tax assets and liabilities by recovery period	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Deferred income tax assets: ​ - Deferred income tax assets to be recovered after more than 12 months 61,163 76,938 ​ 61,163 76,938 Deferred income tax liabilities: ​ ​ - Deferred income tax liabilities to be settled after more than 12 months — (9)
Summary of gross movement on deferred income tax accounts	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 At 1 January 45,480 61,163 Disposal of subsidiaries (Note 30) (5,292) (6) Credited to consolidated statement of comprehensive income 21,375 16,136 Translation adjustment ​ (400) ​ (364) At 31 December 61,163 76,929 Deferred income tax assets ​ ​ ​ ​ ​ ​ ​ ​ ​ Tax losses Others Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 At 1 January 2022 43,323 ​ 2,442 ​ 45,765 Disposal of a subsidiary (Note 30) (5,292) ​ — ​ (5,292) Credited to consolidated statement of comprehensive income 22,371 ​ (1,281) ​ 21,090 ​ ​ (400) ​ — ​ (400) At 31 December 2022 and 1 January 2023 60,002 ​ 1,161 ​ 61,163 Disposal of subsidiaries (Note 30) (6) ​ — ​ (6) Credited to consolidated statement of comprehensive income ​ 16,941 ​ (796) ​ 16,145 Translation adjustment ​ (364) ​ — ​ (364) At 31 December 2023 76,572 ​ 366 ​ 76,938 ​ Deferred income tax liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ Medical licenses ​ ​ ​ ​ and tradenames ​ Others ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 At 1 January 2022 285 ​ — ​ 285 Credited to consolidated statement of comprehensive income ​ (285) ​ — ​ (285) At 31 December 2022 and 1 January 2023 — ​ — ​ — Credited to consolidated statement of comprehensive income (9) ​ — ​ (9) At 31 December 2023 (9) ​ — ​ (9) ​
Summary of unrecognized tax losses by expiry period	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Tax loss expiring within 5 years 103,988 78,783 ​

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Borrowings
Schedule of Borrowings	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Non ‑ current Bank borrowings - secured 3,248 15,610 ​ ​ ​ ​ ​ Other borrowings ​ ​ ​ ​ - secured ​ 25,862 ​ 15,800 ​ ​ 29,110 ​ 31,410 Current ​ ​ Bank borrowings ​ ​ - secured 108,534 42,196 ​ ​ ​ ​ ​ Other borrowings ​ ​ ​ ​ - secured ​ 64,232 ​ 31,737 ​ ​ 172,766 ​ 73,933 ​ ​ 201,876 ​ 105,343

Trade and accruals, other pay_2

Trade and accruals, other payables and provisions (Tables)	12 Months Ended
	Dec. 31, 2023
Trade and accruals, other payables and provisions
Schedule of Trade and accruals, other payables and provisions	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Trade payables 46,752 42,402 Accrued employee benefits 15,004 16,521 Accrued operating expenses 5,772 5,619 Accrued professional service fees 1,749 6,708 Deposits received 1,147 689 Duty and tax payable other than corporate income tax 4,375 4,784 Other payables to suppliers of plant and equipment 177 158 Others 15,514 396 ​ 90,490 77,277

Contract liabilities (Tables)

Contract liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Contract liabilities
Schedule of contract liabilities	​ ​ ​ ​ ​ ​ ​ 2022 2023 ​ ​ RMB’000 ​ RMB’000 Advance receipt for treatment packages 169,725 193,042

Convertible note (Tables)

Convertible note (Tables)	12 Months Ended
	Dec. 31, 2023
Convertible note 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Summary of movement of the debt	​ ​ ​ ​ ​ RMB’000 ​ ​ ​ For the year ended 31 December 2021 At 1 January 2021 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 ​ ​ For the year ended 31 December 2022 ​ ​ At 1 January 2022 ​ 38,059 Change in fair value ​ 26,506 ​ ​ ​ At 31 December 2022 ​ 64,565 ​ ​ ​ Fair value changes for the year included in consolidated statement of comprehensive income for liabilities held at the year end ​ 26,506 ​ ​ ​ For the year ended 31 December 2023 ​ ​ At 1 January 2023 ​ 64,565 Converted into shares ​ (45,175) Change in fair value ​ 116 ​ ​ ​ At 31 December 2023 ​ 19,506 ​ ​ ​ Fair value changes for the year included in consolidated statement of comprehensive loss for liabilities held at the year end ​ 116

Cash generated from operations

Cash generated from operations (Tables)	12 Months Ended
	Dec. 31, 2023
Cash generated from operations
Schedule of cash generated from operations	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Loss before income tax (681,314) (94,173) (55,058) Adjustments for: ​ ​ ​ Finance income (113) (155) (78) Finance costs 27,230 21,635 14,474 Amortisation of intangible assets (Note 15) 5,970 395 574 Depreciation of property, plant and equipment (Note 12) 93,165 61,091 65,323 Depreciation of investment properties (Note 14) — — — Loss on disposal of property, plant and equipment 14,349 20,465 1,981 Loss on disposal of intangible assets ​ 1,350 ​ 3 ​ — Share of profits of investments accounted for using the equity method ​ (81) ​ — ​ — Fair value loss of investment properties ​ — ​ — ​ 154 Fair value loss of convertible note ​ 4,240 ​ 26,506 ​ 116 Convertible note convert into shares ​ — ​ — ​ (20,420) Reversal of contingent consideration ​ (1,523) ​ — ​ — Share-based payment 35,463 27,528 7,514 Impairment of non-current assets ​ 313,959 ​ — ​ — Unrealised exchange difference ​ (373) ​ — ​ — Loss on disposal of associates — 2,920 220 Loss on disposal of subsidiaries (Note 30) 21,558 11,329 4,860 Loss on liquidation of subsidiaries ​ — ​ — ​ 373 Loss on ceased operation of subsidiaries ​ — ​ — ​ 813 ​ (166,120) 77,544 20,846 Changes in working capital: ​ ​ ​ - Inventories (800) (294) 12,272 - Trade receivables 3,849 1,302 (3,966) - Other receivables, deposits and prepayments 34,108 1,718 3,088 - Trade payables 4,543 16,394 28,019 - Accruals, other payables and provisions (52,018) (104,435) (9,283) - Contract liabilities 228,153 (66,728) 23,330 Cash flow from operating activities 51,715 (74,499) 74,306
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 2022 ​ (156,208) (77,607) ​ (28,278) ​ (105,754) (367,847) Cash flows (16,558) 48,497 ​ 926 ​ 6,450 39,315 As at 31 December 2022 (172,766) (29,110) ​ (27,352) ​ (99,304) (328,532) As at 1 January 2023 (172,766) ​ (29,110) ​ (27,352) ​ (99,304) ​ (328,532) Cash flows 98,833 ​ (2,300) ​ (11,318) ​ 5,906 ​ 91,121 As at 31 December 2023 (73,933) ​ (31,410) ​ (38,670) ​ (93,398) ​ (237,411) ​

Business combination (Tables)

Business combination (Tables) - Shenzhen Miaoyan Aesthetic Medical Clinic	12 Months Ended
	Dec. 31, 2023
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 ​ ​ ​ Property, plant and equipment 2,832 Prepayments 430 Inventories ​ 348 Trade and other receivables 109 Cash and cash equivalents 119 Trade payables and other payables (3,617) Net identifiable assets acquired 221 Add: goodwill (Note 15) 779 Net assets acquired 1,000
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 (1,000) Other payables ​ 300 Cash and cash equivalents 119 Net outflow of cash and cash equivalents included in cash flows from investing activities (581)
Summary of pro forma revenue and profit after tax	The following table sets out the pro-forma revenue and profit after tax of the Group had the acquisition taken place from 1 January 2022: ​ ​ ​ ​ ​ 2022 ​ RMB’000 Pro forma consolidated statement of comprehensive income: Revenue 1,113 Loss after tax (1,223) ​

Disposals of subsidiaries (Tabl

Disposals of subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2023
Nanchang Peng'ai Xiuqi Aesthetic Medical Hospital Co., Ltd
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 3,480 Deferred tax assets 1,449 Prepayments 306 Inventories 1,165 Trade and other receivables 298 Cash and cash equivalents — Trade payables and other payables ​ (5,005) Lease liabilities (7,496) Non-controlling interests 6,589 Net assets of subsidiary ​ 786 Gain on disposal of subsidiary ​ 2,214 Cash consideration ​ 3,000
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary	​ ​ ​ ​ ​ 2022 ​ RMB’000 Cash received 1,500 Net cash inflow in respect of disposal of Nanchang Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. 1,500
Changsha Peng'ai Aesthetic Medical Hospital Co., Ltd
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 15,425 Goodwill ​ 176 Deferred tax assets 3,435 Prepayments 159 Inventories 1,843 Trade and other receivables 1,844 Cash and cash equivalents 52 Trade payables and other payables (7,461) Contract liabilities (51) Income tax liabilities (506) Lease liabilities (8,304) Non-controlling interest ​ 11,551 Net assets of subsidiary 18,163 Loss on disposal of subsidiary ​ (13,543) Cash consideration 4,620
Changsha Peng'ai Xiuqi Aesthetic Medical Hospital Co., Ltd
Disposals of subsidiaries
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary	​ ​ ​ ​ ​ 2022 ​ RMB’000 Cash received 3,150 Cash and cash equivalents disposed of (52) Net cash inflow in respect of disposal of Changsha Peng’ai Xiuqi Aesthetic Medical Hospital Co., Ltd. 3,098
Shenzhen Miaoyan Medical Technology Investment Co., Ltd
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 (25) Intangible assets 6 Deferred tax assets 6 Prepayments 192 Investment in associate ​ 860 Trade and other receivables 20,294 Cash and cash equivalents 26 Trade payables and other payables (16,558) Contract liabilities ​ (13) Income tax liabilities 209 Reserve (5) Net assets of subsidiary 4,992 Loss on disposal of subsidiary (3,092) Cash consideration 1,900
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary	​ ​ ​ ​ ​ 2023 ​ ​ RMB’000 Cash received 1,900 Cash and cash equivalents disposed of (26) Net cash inflow in respect of disposal 1,874
Ningbo Beilun Pengai Aesthetic Medical Clinic Co., Ltd
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 543 Intangible assets 24 Trade and other receivables 508 Cash and cash equivalents 76 Trade payables and other payables (995) Net assets of subsidiary 156 Loss on disposal of subsidiary (156) Cash consideration —
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary	​ ​ ​ ​ ​ 2023 ​ ​ RMB’000 Cash received — Cash and cash equivalents disposed of (76) Net cash outflow in respect of disposal (76)
Stargaze Wealth Limited
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 842 Prepayments 1 Asset held-for-sale 1,083 Trade and other receivables 16,690 Cash and cash equivalents 974 Trade payables and other payables (18,114) Exchange reserve 136 Net assets of subsidiary 1,612 Loss on disposal of subsidiary (1,612) Cash consideration —
Schedule of analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary	​ ​ ​ ​ ​ 2023 ​ ​ RMB’000 Cash received — Cash and cash equivalents disposed of (974) Net cash outflow in respect of disposal (974) ​

Transactions with non-control_2

Transactions with non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule of transactions with non controlling interests and their impacts	During the year ended 31 December 2021, 2022 and 2023, the Group completed the following transactions with non-controlling interests and the impact is 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 2021 ​ ​ ​ ​ ​ ​ Acquisition of additional interests in a subsidiary: - Huizhou Pengai (Note a) (220) (140) (360) - Changsha Pengai (Note b) (715) 400 (315) ​ ​ ​ ​ ​ ​ ​ Disposal of interests in a subsidiary without loss of control: - Changsha Pengai (Note c) 3,575 (2,000) 1,575 ​ 2,640 (1,740) 900 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 2022 ​ ​ ​ ​ ​ ​ Acquisition of additional interests in a subsidiary: - Shenzhen Pengai Xiuqi(Note d) ​ (224) ​ (526) ​ (750) - Guangzhou Pengai (Note e) ​ 2,054 ​ (4,814) ​ (2,760) - Guangzhou Pengai Xiuqi (Note f) ​ 86 ​ (86) ​ — - Yantai Pengai (Note g) 288 (588) (300) ​ 2,204 (6,014) (3,810)
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd.
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 Aesthetic Medical Hospital Co. Ltd.
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	​ ​ ​ ​ ​ 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)
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd.
Schedule of acquisition of interest	​ ​ ​ ​ ​ 2022 ​ RMB’000 Carrying amount of non-controlling interests acquired 224 Consideration paid to non-controlling interests (750) Excess of consideration paid to non-controlling interest recognised within equity (526)
Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd.
Schedule of acquisition of interest	​ ​ ​ ​ ​ 2022 ​ RMB’000 Carrying amount of non-controlling interests acquired (2,054) Consideration paid to non-controlling interests (2,760) Excess of consideration paid to non-controlling interest recognised within equity (4,814)
Yantai Pengai Jiayan
Schedule of acquisition of interest	​ ​ ​ ​ ​ 2022 ​ ​ RMB’000 ​ ​ ​ Carrying amount of non-controlling interests acquired (288) Consideration paid to non-controlling interests (300) Excess of consideration paid to non-controlling interest recognised within equity (588)
Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd.
Schedule of acquisition of interest	​ ​ ​ ​ ​ 2022 ​ RMB’000 Carrying amount of non-controlling interests acquired (86) Consideration paid to non-controlling interests — Excess of consideration paid to non-controlling interest recognised within equity (86)

Share based compensation (Table

Share based compensation (Tables)	12 Months Ended
	Dec. 31, 2023
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 2022 ​ 1,270,445 ​ 0.007 ​ 28.01 Vested during the year (note) ​ (1,270,445) ​ ​ ​ ​ Outstanding as of 31 December 2022 — ​ — ​ —
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 2023 ​ ​ ​ ​ ​ ​ ​ 1 June 2019 ​ 31 May 2029 ​ US$0.001 ​ — Weighted average remaining contractual life of options outstanding at end of period: ​ ​ ​ ​ ​ Not applicable ​ Performance Incentive Plan was approved by the board of directors in September 2019. On July 29, 2022, the Company issued 1,927,793 new ordinary shares to certain employees, representing an aggregate 2.0% of the total number of outstanding ordinary shares, at nil consideration in accordance with the Performance Incentive Plan. A warrant that grants Seefar Global Holdings Limited the right to purchase from the Company 4,655,386 ordinary shares was issued by the Company to Seefar Global Holdings Limited pursuant to the Shareholders Agreement dated July 2022 on the date of Closing (as defined August 2023). 2,698,870 ordinary shares exercisable at any time after the first anniversary of the closing date under the warrant issued to Seefar Global Holdings Limited and 1,956,516 of which have been purchased upon the exercise of Seefar Global Holdings Limited on August 2023.

Summarised financial informat_2

Summarised financial information of subsidiaries with material non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2023
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 ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current - Assets 17,024 23,004 33,060 13,772 14,761 20,587 - Liabilities (15,541) (17,145) (23,017) (46,764) (50,260) (56,395) Total current net assets/(liabilities) 1,483 5,859 10,043 (32,992) (35,499) (35,808) Non‑current ​ ​ ​ ​ ​ ​ - Assets 3,868 5,466 8,958 40,871 41,102 46,180 - Liabilities (733) (3,495) (9,167) (29,040) (29,174) (39,215) Total non‑current net assets 3,135 1,971 (209) 11,831 11,928 6,965 Net assets/(liabilities) 4,618 7,830 9,834 (21,161) (23,571) (28,843) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Xiuqi Pengai ​ Haikou Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Current ​ ​ - Assets 10,252 ​ 8,773 ​ 19,509 4,546 4,510 5,339 - Liabilities (33,393) ​ (32,844) ​ (46,968) (23,484) (22,396) (25,022) Total current net liabilities (23,141) ​ (24,071) ​ (27,459) (18,938) (17,886) (19,683) Non‑current ​ ​ ​ ​ ​ ​ ​ ​ - Assets 26,429 ​ 30,261 ​ 36,573 18,964 15,295 12,256 - Liabilities — ​ — ​ (4,631) (5,808) (5,450) (4,640) Total non‑current net assets 26,429 ​ 30,261 ​ 31,942 13,156 9,845 7,616 Net assets/(liabilities) 3,288 ​ 6,190 ​ 4,483 (5,782) (8,041) (12,067) ​ ​ 33 Summarised balance sheets (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yantai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Current - Assets 3,753 2,909 3,441 - Liabilities (31,845) (25,394) (31,624) Total current net liabilities (28,092) (22,485) (28,183) Non-current - Assets 33,234 28,832 29,119 - Liabilities (17,086) (16,778) (17,088) Total non-current net assets 16,148 12,054 12,031 Net assets/(liabilities) (11,944) (10,431) (16,152) ​ Summarised statements of comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huizhou Pengai ​ Shanghai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 21,561 32,679 36,952 ​ 21,674 41,585 44,422 (Loss)/profit before income tax (8,222) 4,261 6,252 ​ (25,217) (3,213) (7,031) Income tax (expense)/credit 297 1,049 (1,563) ​ 1,347 (803) 1,758 (Loss)/profit and total comprehensive (loss)/income for the year (7,925) 3,212 4,689 ​ (23,870) (2,410) (5,273) Total comprehensive (loss)/income allocated to non‑controlling interests (2,734) 1,044 1,524 ​ (4,737) (482) (1,055) Dividend paid to non‑controlling interests 1,116 — 2,685 ​ — — — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Xiuqi Pengai ​ Haikou Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Revenue 28,251 ​ 37,106 ​ 51,431 24,134 30,474 32,421 (Loss)/Profit before income tax (19,411) ​ 3,871 ​ (2,776) (10,966) (2,946) (5,369) Income tax (expense)/credit 2,586 ​ 968 ​ 1,068 (84) (688) 1,342 (Loss)/Profit and total comprehensive (loss)/income for the year (16,825) ​ 2,903 ​ (1,708) (11,050) (2,258) (4,027) Total comprehensive (loss)/income allocated to non‑controlling interests (1,851) ​ 174 ​ (102) (1,436) (294) (523) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yantai Pengai ​ 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Revenue 15,295 36,763 28,874 (Loss)/profit before income tax (21,773) 2,018 (8,099) Income tax (expense)/credit 1,795 505 2,378 (Loss)/profit and total comprehensive income/(loss) for the year (19,978) 1,513 (5,721) Total comprehensive (loss)/income allocated to non-controlling interests (2,198) 166 (286) ​ 33 Summarised statements of cash flows ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Huizhou Pengai ​ Shanghai Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash generated from operations 1,217 (1,905) (1,127) 2,587 (11,224) (1,110) Income tax paid (211) (136) — (27) — — Net cash generated from/(used in) operating activities 1,006 (2,041) (1,127) 2,560 (11,224) (1,110) Net cash used in investing activities (589) (68) (2,955) (2,437) (20) (715) Net cash used in financing activities (18) 2,520 6,344 — 10,783 2,380 Net (decrease)/increase in cash and cash equivalents 399 411 2,262 123 (461) 555 Cash and cash equivalents at beginning of the year 296 695 1,106 461 584 123 Cash and cash equivalents at end of the year 695 1,106 3,368 584 123 678 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Xiuqi Pengai ​ Haikou Pengai ​ ​ 2021 ​ 2022 ​ 2023 ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Cash flows from operating activities ​ Cash generated from/(used in) operations (1,419) ​ (81) ​ (3,492) 2,162 779 1,771 Income tax paid — ​ — ​ — (8) (50) (20) Net cash generated from/(used in) operating activities (1,419) ​ (81) ​ (3,492) 2,154 729 1,751 Net cash used in investing activities (767) ​ (13) ​ (997) (1,300) (594) (30) Net cash (used in)/generated from financing activities 2,880 ​ (505) ​ 8,817 (100) (586) — Net (decrease)/increase in cash and cash equivalents 694 ​ (599) ​ 4,328 754 (451) 1,721 Cash and cash equivalents at beginning of the year 9 ​ 703 ​ 104 222 976 525 Cash and cash equivalents at end of the year 703 ​ 104 ​ 4,432 976 525 2,246 ​ ​ 33 Summarised statements of cash flows (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Yantai Pengai Jiayan 2021 2022 2023 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Cash flows from operating activities ​ ​ ​ ​ ​ ​ Cash generated from operations 47 58 1,691 Income tax paid — — — Net cash generated from operating activities 47 58 1,691 Net cash used in investing activities — (115) (421) Net cash used in financing activities — (163) — Net increase/ (decrease) in cash and cash equivalents 47 (220) 1,270 Cash and cash equivalents at beginning of the year 514 561 341 Cash and cash equivalents at end of the year 561 341 1,611 ​

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments
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: ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Not later than 1 year 20 15

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related party transactions
Summary of transactions with related parties	(a) Transactions with related parties ​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Depreciation, interest expense and building rental - A related company 1,890 1,567 Medical Equipment rental and transactions ​ ​ -A related company 5,942 2,910 ​
Summary of balances with related parties	​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Current (Note i) Amounts due from related parties Amounts due from related companies 2,217 1,500 Amounts due from non‑controlling interests 656 656 ​ 2,873 2,156
Summary of key management compensation	​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 Basic salaries and bonus 15,609 13,545 Share based compensation ​ 27,528 ​ 7,514 Pension costs - defined contribution plans 319 273 ​ 43,456 21,332
Summary of personal guarantees and corporate guarantee from related company	​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ 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 78,977 — Bank borrowings of the Group secured by personal guarantees from Ms. Wu Binhua ​ — ​ 41,746 Bank borrowings of the Group secured by personal properties from Dr. Zhou Pengwu and Ms. Ding Wenting ​ 32,805 ​ 16,060 ​

Particulars of the subsidiari_2

Particulars of the subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2023
Particulars of the subsidiaries
Schedule of list of the principal subsidiaries	The following is a list of the principal subsidiaries at 31 December 2022 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Place of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ incorporation/ ​ Registered capital/ ​ ​ ​ Interest held Name ​ establishment ​ issued share capital ​ Principal activities ​ 2022 ​ 2023 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 % — % (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 RMB500,000,000 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 % — % (中國醫美控股(新加坡)有限公司) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shenzhen Pengcheng Hospital Co., Ltd. The PRC Registered capital of RMB85,000,000 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 RMB130,000,000 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 RMB100,000 Sales of cosmetic products 100 % — % (深圳市鵬愛美麗約定美容有限公司) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Haikou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB3,000,000 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 RMB6,000,000 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 RMB5,210,000 Provision of aesthetic medical services 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 RMB500,000 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 RMB20,000,000 ​ Provision of medical aesthetic technical consulting and management services ​ 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 ​ Investment holding and provision of management services ​ 100 % 100 % ​ ​ 36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Place of ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ incorporation/ ​ Registered capital/ ​ ​ ​ Interest held Name ​ establishment ​ issued share capital ​ Principal activities ​ 2022 ​ 2023 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 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shanghai Pengai Aesthetic Medical Outpatient Department Co., Ltd. The PRC Registered capital of RMB3,000,000 Provision of aesthetic medical services 80 % 80 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Newa Medical Aesthetics Limited Hong Kong 1,000,000 ordinary shares Provision of aesthetic medical services 100 % 100 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. The PRC Registered capital of RMB18,800,000 Provision of aesthetic medical services 96 % 96 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd. ​ The PRC ​ Registered capital of RMB12,000,000 ​ Provision of aesthetic medical services ​ 89 % 94 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Hangzhou Pengai E-commerce Co. (formerly known as Hangzhou Pengai Aesthetic Medical Clinic Co., Ltd.) ​ The PRC ​ Registered capital of RMB6,000,000 ​ Provision of aesthetic medical services ​ 100 % — % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shanghai Pengai Jiahong (formerly known as Shanghai Mingyue Yueji) Aesthetic Medical Outpatient Department Co., Ltd. ​ The PRC ​ Registered capital of RMB5,000,000 ​ Provision of aesthetic medical services ​ 64 % 64 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Guangzhou Pengai Xiuqi Aesthetic Medical Outpatient Department 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 ​ 70.1 % 73 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beijing Aomei Yixin Investment Consultant Co., 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 % 95 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beijing Aomei Yixin Investment Consultant Co., Ltd. Pengai (formerly known as Beijing Haiyue Xingguang) Aesthetic Medical Clinic (北京澳美醫信投資顧問有限公司鵬愛醫療美容診所) ​ The PRC ​ — ​ Provision of aesthetic medical services ​ 95 % 95 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 % 95 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shenzhen Ruimei Enterprise Management Co., Ltd. (深圳市睿美企業管理有限公司) ​ The PRC ​ Registered capital of RMB100,000 ​ Investment holding and provision of management services ​ — % 100 % ​

Additional information_ conde_2

Additional information: condensed financial statements of the Company (Tables)	12 Months Ended
	Dec. 31, 2023
Additional information: condensed financial statements of the Company
Schedule of Condensed balance sheets of the parent company	​ ​ ​ ​ ​ ​ ​ ​ 2022 ​ 2023 ​ RMB’000 RMB’000 ASSETS Non ‑ current assets Investments in subsidiaries and due from subsidiaries — — Current assets ​ ​ Other receivables, deposits and prepayments — — Cash and cash equivalents 84 52 ​ 84 52 Total assets 84 52 EQUITY AND LIABILITIES ​ ​ Equity attributable to owners of the Company ​ ​ Share capital and treasury shares (1,397) (1,134) Other reserves (72,728) (26,649) Total equity (74,125) (27,783) LIABILITIES ​ ​ Non ‑ current liabilities ​ ​ Convertible note — — ​ — — Current liabilities ​ ​ Accruals, other payables and provisions 9,644 8,329 Convertible note ​ 64,565 ​ 19,506 ​ ​ 74,209 ​ 27,835 Total liabilities 74,209 27,835 Total equity and liabilities 84 52
Schedule of Condensed statements of comprehensive income of the parent company	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 Loss from subsidiaries (469,724) (30,294) (26,521) Selling expenses (511) — — General and administrative expenses (47,188) (34,575) (14,089) Finance income — 5,269 — Finance costs (338) — (528) Other loss, net ​ (6,968) ​ (7) ​ 20,420 Fair value loss of convertible note (4,240) (26,506) (116) Loss before income tax (528,969) (86,113) (20,834) Income tax expense — — — Loss for the year (528,969) (86,113) (20,834) Other comprehensive income/(loss): Items that may be subsequently reclassified to profit or loss Currency translation differences 574 (665) (791) Total other comprehensive income/(loss) for the year, net of tax 574 (665) (791) Total comprehensive loss for the year (528,395) (86,778) (21,625)
Schedule of Condensed statements of cash flows of the parent company	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ 2022 ​ 2023 ​ RMB’000 RMB’000 RMB’000 Net cash used in operating activities (6,250) (88,987) (170,915) Net cash used in investing activities — — — Net cash generated from financing activities — 94,153 170,883 Net increase/(decrease) in cash and cash equivalents (6,250) (5,166) (32) Cash and cash equivalents at beginning of the year 11,500 5,250 84 Cash and cash equivalents at end of the year 5,250 84 52 ​

General information - (Details)

General information - (Details)	1 Months Ended
	Oct. 31, 2019 USD ($)
General information
Net proceeds from offering	$ 27,600,000

Material accounting policies (D

Material accounting policies (Details) - CNY (¥)	1 Months Ended	12 Months Ended
	Feb. 28, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Material accounting policies
Loss for the year		¥ (39,922,000)	¥ (76,106,000)	¥ (669,516,000)
Net current liabilities		(299,810,000)
Net assets		¥ 33,629,000
Gross proceeds	¥ 170,000,000		¥ 94,153,000
Minimum period of financial support that will be provided by Binhua Wu		12 months

Material accounting policies -

Material accounting policies - Contractual arrangements with respect to equity interests in certain PRC subsidiaries (Details)	12 Months Ended
	Dec. 31, 2023
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	27%
Yantai Pengai Cosmetic Surgery Hospital Co., Ltd.
PRC subsidiaries
Equity interest subject to contractual agreements	26%
Changsha Pengai Aesthetic Medical Hospital Co., Ltd.
PRC subsidiaries
Equity interest subject to contractual agreements	3%
Shanghai Pengai Aesthetic Medical General Outpatient Clinic Co., Ltd.
PRC subsidiaries
Equity interest subject to contractual agreements	15%
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd.
PRC subsidiaries
Equity interest subject to contractual agreements	12%
Guangzhou Pengai Aesthetic Medical Hospital Co. Ltd.
PRC subsidiaries
Equity interest subject to contractual agreements	25%
Ms. Ding Wenting
PRC subsidiaries
Equity interest subject to contractual agreements	25%
Bottom of Range
PRC subsidiaries
Percentage of equity interest historically held in PRC subsidiaries	70%
Equity interest in associate (in percent)	20%
Top of Range
PRC subsidiaries
Allowable percentage of foreign investment in PRC medical institutions through joint venture entities	70%
Equity interest in associate (in percent)	50%

Material accounting policies _2

Material accounting policies - Segment reporting (Details)	12 Months Ended
	Dec. 31, 2023 segment
Material accounting policies
Number of operating and reportable segments	1

Material accounting policies _3

Material accounting policies - Depreciation of property, plant and equipment (Details)	12 Months Ended
	Dec. 31, 2023
Buildings | Bottom of Range
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
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

Material accounting policies _4

Material accounting policies - Intangible assets (Details)	12 Months Ended
	Dec. 31, 2023
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

Material accounting policies _5

Material accounting policies - Compound financial instruments (Details) - Peak Asia Investment Holdings V Limited (ADV)	Aug. 16, 2023 ¥ / shares shares
Compound financial instruments
Number of shares issued | shares	12,088,808
Conversion price per ordinary share | ¥ / shares	¥ 4.203

Financial risk management - Mar

Financial risk management - Market risk (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign exchange risk
Financial risk management
Reasonable possible increase (decrease) in risk assumption	5%	5%
Reasonable possible increase (decrease) in post tax results due to change in risk assumption	¥ 2,000	¥ 4,000
Cash flow and fair value interest rate risk
Financial risk management
Reasonable possible increase (decrease) in risk assumption			0.10%
Reasonable possible increase (decrease) in post tax results due to change in risk assumption			¥ 48,070

Financial risk management - Liq

Financial risk management - Liquidity risk (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial risk management
Net current liabilities	¥ (299,810,000)
Undiscounted cash flows, including interest	320,072,000	¥ 481,237,000	¥ 512,579,000
Within 1 year
Financial risk management
Undiscounted cash flows, including interest	193,892,000	335,528,000	268,735,000
Between 1 and 2 years
Financial risk management
Undiscounted cash flows, including interest	50,964,000	58,365,000	146,817,000
Between 2 and 5 years
Financial risk management
Undiscounted cash flows, including interest	54,682,000	56,442,000	58,745,000
After 5 years
Financial risk management
Undiscounted cash flows, including interest	20,534,000	30,902,000	38,282,000
Liquidity risk
Financial risk management
Net current liabilities	(299,810,000)
Borrowings
Financial risk management
Undiscounted cash flows, including interest	111,668,000	201,876,000	238,594,000
Borrowings | Within 1 year
Financial risk management
Undiscounted cash flows, including interest	78,886,000	172,766,000	160,646,000
Borrowings | Between 1 and 2 years
Financial risk management
Undiscounted cash flows, including interest	18,112,000	24,533,000	77,948,000
Borrowings | Between 2 and 5 years
Financial risk management
Undiscounted cash flows, including interest	14,670,000	4,577,000
Convertible note
Financial risk management
Undiscounted cash flows, including interest	19,506,000	64,565,000	38,059,000
Convertible note | Within 1 year
Financial risk management
Undiscounted cash flows, including interest	¥ 19,506,000	64,565,000
Convertible note | Between 1 and 2 years
Financial risk management
Undiscounted cash flows, including interest			38,059,000
Convertible note 2020 | Liquidity risk
Financial risk management
Maximum exposure to issue price (as a percent)	100%
Accrued amount of maximum exposure (as a percent)	15%
Lease liabilities
Financial risk management
Undiscounted cash flows, including interest	¥ 132,068,000	151,043,000	160,801,000
Lease liabilities | Within 1 year
Financial risk management
Undiscounted cash flows, including interest	38,670,000	34,444,000	32,964,000
Lease liabilities | Between 1 and 2 years
Financial risk management
Undiscounted cash flows, including interest	32,852,000	33,832,000	30,810,000
Lease liabilities | Between 2 and 5 years
Financial risk management
Undiscounted cash flows, including interest	40,012,000	51,865,000	58,745,000
Lease liabilities | After 5 years
Financial risk management
Undiscounted cash flows, including interest	20,534,000	30,902,000	38,282,000
Trade payables
Financial risk management
Undiscounted cash flows, including interest	42,402,000	46,752,000	31,256,000
Trade payables | Within 1 year
Financial risk management
Undiscounted cash flows, including interest	42,402,000	46,752,000	31,256,000
Accruals and other payables (excluding accrued employee benefits, other taxes, provision and deposits received)
Financial risk management
Undiscounted cash flows, including interest	14,428,000	17,001,000	43,396,000
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	¥ 14,428,000	¥ 17,001,000	43,396,000
Amounts due to related parties
Financial risk management
Undiscounted cash flows, including interest			473,000
Amounts due to related parties | Within 1 year
Financial risk management
Undiscounted cash flows, including interest			¥ 473,000

Financial risk management - Cap

Financial risk management - Capital risk management (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial risk management
Total borrowings	¥ 105,343	¥ 201,876
Add: Convertible note (Note 27)	19,506	64,565
Less: Cash and cash equivalents (Note 19)	(62,336)	(12,161)
Restricted cash (Note 19)		(1,547)
Net debt	62,513	252,733
Total equity	33,629	(125,880)	¥ (186,422)	¥ 425,736
Total capital	¥ 96,142	¥ 126,853
Gearing ratio	64.26%	199.23%

Financial risk management - Fai

Financial risk management - Fair value estimation (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Group's assets and financial liabilities that are measured at fair value
Assets	¥ 22,911
Investment properties (Note 14)
Group's assets and financial liabilities that are measured at fair value
Assets	22,911
At fair value | Financial liabilities at fair value through profit or loss
Group's assets and financial liabilities that are measured at fair value
Liabilities	19,506
At fair value | Convertible note (Note 27) | Financial liabilities at fair value through profit or loss
Group's assets and financial liabilities that are measured at fair value
Liabilities	19,506
Level 3
Group's assets and financial liabilities that are measured at fair value
Assets	22,911
Liabilities	19,506	¥ 64,565	¥ 38,059
Level 3 | Convertible note (Note 27)
Group's assets and financial liabilities that are measured at fair value
Liabilities	19,506	¥ 64,565	¥ 38,059
Level 3 | Investment properties (Note 14)
Group's assets and financial liabilities that are measured at fair value
Assets	22,911
Level 3 | At fair value | Financial liabilities at fair value through profit or loss
Group's assets and financial liabilities that are measured at fair value
Liabilities	19,506
Level 3 | At fair value | Convertible note (Note 27) | Financial liabilities at fair value through profit or loss
Group's assets and financial liabilities that are measured at fair value
Liabilities	¥ 19,506

Financial risk management - Cha

Financial risk management - Changes in level 3 liability (Details) - Level 3 - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in fair value measurement, liabilities
Opening balance	¥ 64,565	¥ 38,059
Converted into shares	(45,175)
Change in fair value		26,506
Change in fair value	116
Closing balance	19,506	64,565
Convertible note (Note 27)
Reconciliation of changes in fair value measurement, liabilities
Opening balance	64,565	38,059
Converted into shares	(45,175)
Change in fair value		26,506
Change in fair value	116
Closing balance	¥ 19,506	¥ 64,565

Critical accounting estimates_2

Critical accounting estimates and judgments (Details) - CNY (¥)	Dec. 31, 2023	Dec. 31, 2022
Critical accounting estimates and judgments
Amount of tax losses carried forward	¥ 385,070,000	¥ 343,995,000
Amount of deferred tax assets was recognised for the tax losses carried forward	¥ 76,938,000	¥ 61,163,000

Revenue (Details)

Revenue (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue
Revenue	¥ 682,587	¥ 670,091	¥ 645,593
Non-surgical aesthetic medical services
Revenue
Revenue	474,874	482,285	334,248
Surgical aesthetic medical services
Revenue
Revenue	143,057	132,628	243,070
General healthcare services and other aesthetic medical services
Revenue
Revenue	¥ 64,656	¥ 55,178	¥ 68,275

Expenses by nature (Details)

Expenses by nature (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses by nature
Employee benefit expenses (Note 7)	¥ 221,971	¥ 234,142	¥ 309,250
Advertising and marketing expenses	164,236	132,202	255,534
Cost of inventories and consumables	204,881	160,152	174,991
Operating lease rental expenses	9,374	12,822	15,836
Amortisation and depreciation	65,897	61,485	99,135
Utilities and office expenses	38,329	39,085	76,579
Travelling and entertainment expenses	8,451	7,009	12,818
Bank charges	4,890	4,035	3,213
Loss on disposal of property, plant and equipment		20,465
Legal and professional fees	11,355	14,743	30,570
Other expenses	2,015	5,218	9,820
Total expenses	¥ 731,399	¥ 691,358	¥ 987,746

Employee benefit expenses (Deta

Employee benefit expenses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee benefit expenses
Wages and salaries	¥ 198,988	¥ 183,193	¥ 250,773
Share-based compensation expenses	7,514	27,528	35,463
Pension costs - defined contribution plans	10,616	15,651	16,942
Other staff welfare expenses	4,853	7,770	6,072
Employee benefit expenses	¥ 221,971	¥ 234,142	¥ 309,250

Finance income and costs (Detai

Finance income and costs (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finance costs
Interest expense on bank borrowings	¥ (4,105)	¥ (579)	¥ (7,844)
Interest expense on other borrowings	(4,511)	(12,375)	(6,542)
Interest expense on lease liabilities	(5,858)	(8,681)	(12,844)
Finance costs	(14,474)	(21,635)	(27,230)
Finance income
Interest income on short-term bank deposits	78	155	113
Finance costs - net	¥ (14,396)	¥ (21,480)	¥ (27,117)

Other gains (losses) net (Detai

Other gains (losses) net (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other gains (losses) net
Other gains	¥ 8,420	¥ (24,920)	¥ 6,074

Income tax expense (Details)

Income tax expense (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax
PRC enterprise income tax	¥ 1,000	¥ 3,308	¥ 8,208
Deferred tax
PRC enterprise income tax previous years	(5,890)
Origination and reversal of temporary differences (Note 23)	(10,246)	(21,375)	(20,006)
Income tax expense/(credit)	¥ (15,136)	¥ (18,067)	¥ (11,798)

Income tax expense - Taxation o

Income tax expense - Taxation on the Group's loss before income tax (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of tax rates
Loss before income tax	¥ (55,058)	¥ (94,173)	¥ (681,314)
Calculated at a taxation rate of 25%	(13,765)	(23,543)	(170,329)
Expenses not tax deductible	4,121	7,223	42,450
Tax losses not recognized	1,124	5,531	117,454
Difference in overseas tax rates	(364)	(400)	(304)
Over-provision in respect of prior years	(6,252)	(6,878)	(1,069)
Income tax expense/(credit)	¥ (15,136)	¥ (18,067)	¥ (11,798)
Applicable tax rate	25%	25%	25%

Income tax expense - Additional

Income tax expense - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income tax expense
Income tax rate	25%	25%	25%
Hong Kong
Income tax expense
Income tax rate	16.50%	16.50%	16.50%
PRC
Income tax expense
Income tax rate	25%	25%	25%
Singapore
Income tax expense
Income tax rate	17%

Loss per share - Computation of

Loss per share - Computation of basic and diluted profit/(loss) per share (Details) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥) category ¥ / shares shares	Dec. 31, 2022 CNY (¥) category ¥ / shares shares	Dec. 31, 2021 CNY (¥) category ¥ / shares shares
Loss per share
Number of categories of dilutive securities | category	2	2	2
Loss attributable to owners of the Company - basic | ¥	¥ (37,432)	¥ (76,247)	¥ (586,619)
Loss attributable to owners of the Company - diluted | ¥	¥ (37,432)	¥ (76,247)	¥ (586,619)
Weighted average number of shares - basic | shares	131,658,595	81,911,577	65,960,235
Weighted average number of shares - diluted | shares	131,658,595	81,911,577	65,960,235
Loss per share - basic (RMB) | ¥ / shares	¥ (0.28)	¥ (0.93)	¥ (8.89)
Loss per share - diluted (RMB) | ¥ / shares	¥ (0.28)	¥ (0.93)	¥ (8.89)

Property, plant and equipment_2

Property, plant and equipment (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment
Opening net book amount	¥ 320,816,000	¥ 358,749,000
Additions	55,244,000	105,651,000
Disposal	(4,316,000)	(24,522,000)
Disposal of subsidiaries (Note 30)	(2,202,000)	(40,870,000)
Depreciation charges	(65,323,000)	(61,091,000)	¥ (93,165,000)
Transfer from investment properties		(17,101,000)
Closing net book amount	304,219,000	320,816,000	358,749,000
Property, plant and equipment pledged as security for bank loans	34,965,000	48,285,000
Buildings
Property, plant and equipment
Opening net book amount	36,935,000	57,236,000
Additions	1,539,000	105,000
Depreciation charges	(1,983,000)	(3,305,000)
Transfer from investment properties		(17,101,000)
Closing net book amount	36,491,000	36,935,000	57,236,000
Leasehold improvements
Property, plant and equipment
Opening net book amount	93,383,000	109,836,000
Additions	15,270,000	20,861,000
Disposal of subsidiaries (Note 30)	(417,000)	(23,469,000)
Depreciation charges	(22,001,000)	(13,845,000)
Closing net book amount	86,235,000	93,383,000	109,836,000
Machinery and equipment
Property, plant and equipment
Opening net book amount	61,535,000	66,220,000
Additions	20,428,000	11,509,000
Disposal	(3,881,000)	(930,000)
Disposal of subsidiaries (Note 30)	(1,699,000)	(2,900,000)
Depreciation charges	(16,269,000)	(12,364,000)
Closing net book amount	60,114,000	61,535,000	66,220,000
Office equipment, furniture fixtures and motor vehicles
Property, plant and equipment
Opening net book amount	5,036,000	5,009,000
Additions	3,455,000	2,999,000
Disposal	(251,000)	(1,211,000)
Disposal of subsidiaries (Note 30)	(86,000)	(340,000)
Depreciation charges	(1,644,000)	(1,421,000)
Closing net book amount	6,510,000	5,036,000	5,009,000
Right of use assets
Property, plant and equipment
Opening net book amount	123,927,000	120,448,000
Additions	14,552,000	70,177,000
Disposal	(184,000)	(22,381,000)
Disposal of subsidiaries (Note 30)		(14,161,000)
Depreciation charges	(23,426,000)	(30,156,000)
Closing net book amount	114,869,000	123,927,000	¥ 120,448,000
Cost
Property, plant and equipment
Opening net book amount	698,346,000
Closing net book amount	720,021,000	698,346,000
Cost | Buildings
Property, plant and equipment
Opening net book amount	37,021,000
Closing net book amount	38,560,000	37,021,000
Cost | Leasehold improvements
Property, plant and equipment
Opening net book amount	289,207,000
Closing net book amount	304,053,000	289,207,000
Cost | Machinery and equipment
Property, plant and equipment
Opening net book amount	131,668,000
Closing net book amount	127,559,000	131,668,000
Cost | Office equipment, furniture fixtures and motor vehicles
Property, plant and equipment
Opening net book amount	25,663,000
Closing net book amount	26,772,000	25,663,000
Cost | Right of use assets
Property, plant and equipment
Opening net book amount	214,787,000
Closing net book amount	223,076,000	214,787,000
Accumulated depreciation and impairment
Property, plant and equipment
Opening net book amount	(377,530,000)
Closing net book amount	(415,802,000)	(377,530,000)
Accumulated depreciation and impairment | Buildings
Property, plant and equipment
Opening net book amount	(86,000)
Closing net book amount	(2,069,000)	(86,000)
Accumulated depreciation and impairment | Leasehold improvements
Property, plant and equipment
Opening net book amount	(195,824,000)
Closing net book amount	(217,818,000)	(195,824,000)
Accumulated depreciation and impairment | Machinery and equipment
Property, plant and equipment
Opening net book amount	(70,133,000)
Closing net book amount	(67,445,000)	(70,133,000)
Accumulated depreciation and impairment | Office equipment, furniture fixtures and motor vehicles
Property, plant and equipment
Opening net book amount	(20,627,000)
Closing net book amount	(20,262,000)	(20,627,000)
Accumulated depreciation and impairment | Right of use assets
Property, plant and equipment
Opening net book amount	(90,860,000)
Closing net book amount	¥ (108,207,000)	¥ (90,860,000)

Lease (Details)

Lease (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease liabilities
Current	¥ 35,465,000	¥ 27,352,000	¥ 28,278,000
Non-current	84,236,000	99,304,000	105,754,000
Lease liabilities	119,701,000	126,656,000	134,032,000
Amounts recognised in the statements of comprehensive income:
Interest expense (included in finance costs) (Note 8)	5,858,000	8,681,000	12,844,000
Expense relating to short-term leases (included in cost of goods sold and administrative expenses)	9,374,000	12,822,000	¥ 15,836,000
Total cash outflow for leases	¥ 36,698,000	¥ 31,263,000

Investment properties (Details)

Investment properties (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investment properties
Beginning balance	¥ 23,065,000
Fair value loss of investment properties	(154,000)
Ending balance	22,911,000	¥ 23,065,000
Investment properties pledged as security for bank loans	22,911,000
Fair value
Investment properties
Beginning balance	23,065,000
Transfer from property, plant and equipment		23,065,000
Fair value loss of investment properties	(154,000)
Ending balance	¥ 22,911,000	¥ 23,065,000

Investment properties - Amounts

Investment properties - Amounts recognised in income statement and future aggregate minimum lease receipts (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023 CNY (¥)
Investment properties
Rental income	¥ 240

Intangible assets (Details)

Intangible assets (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible assets
Opening net book amount	¥ 37,270,000	¥ 37,238,000
Additions	215,000	606,000
Disposal		(3,000)
Business combination (Note 29)		779,000
Disposal of subsidiaries (Note 30)	(30,000)	(955,000)
Amortisation	(574,000)	(395,000)	¥ (5,970,000)
Closing net book amount	36,881,000	37,270,000	37,238,000
Goodwill from acquisition of subsidiaries	0	779,000
Goodwill
Intangible assets
Opening net book amount	32,999,000	33,175,000
Business combination (Note 29)		779,000
Disposal of subsidiaries (Note 30)		(955,000)
Closing net book amount	32,999,000	32,999,000	33,175,000
Impairment of non-current assets			122,099,000	¥ 18,809,000
Computer software
Intangible assets
Opening net book amount	921,000	713,000
Additions	215,000	606,000
Disposal		(3,000)
Disposal of subsidiaries (Note 30)	(30,000)
Amortisation	(347,000)	(395,000)
Closing net book amount	759,000	921,000	713,000
Impairment of non-current assets			3,956,000	0
Medical licenses
Intangible assets
Impairment of non-current assets			4,407,000	0
Tradenames
Intangible assets
Opening net book amount	3,350,000	3,350,000
Amortisation	(227,000)
Closing net book amount	3,123,000	3,350,000	3,350,000
Impairment of non-current assets			43,679,000	8,124,000
Property, plant and equipment
Intangible assets
Impairment of non-current assets			¥ 139,818,000	¥ 6,036,000
Cost
Intangible assets
Opening net book amount	81,650,000
Closing net book amount	81,647,000	81,650,000
Cost | Goodwill
Intangible assets
Opening net book amount	54,213,000
Closing net book amount	54,213,000	54,213,000
Cost | Computer software
Intangible assets
Opening net book amount	12,813,000
Closing net book amount	12,809,000	12,813,000
Cost | Medical licenses
Intangible assets
Opening net book amount	9,585,000
Closing net book amount	9,585,000	9,585,000
Cost | Tradenames
Intangible assets
Opening net book amount	5,039,000
Closing net book amount	5,040,000	5,039,000
Impairment
Intangible assets
Opening net book amount	(25,887,000)
Closing net book amount	(25,887,000)	(25,887,000)
Impairment | Goodwill
Intangible assets
Opening net book amount	(21,214,000)
Closing net book amount	(21,214,000)	(21,214,000)
Impairment | Computer software
Intangible assets
Opening net book amount	(3,954,000)
Closing net book amount	(3,954,000)	(3,954,000)
Impairment | Tradenames
Intangible assets
Opening net book amount	(719,000)
Closing net book amount	(719,000)	(719,000)
Accumulated amortisation
Intangible assets
Opening net book amount	(18,493,000)
Closing net book amount	(18,879,000)	(18,493,000)
Accumulated amortisation | Computer software
Intangible assets
Opening net book amount	(7,938,000)
Closing net book amount	(8,096,000)	(7,938,000)
Accumulated amortisation | Medical licenses
Intangible assets
Opening net book amount	(9,585,000)
Closing net book amount	(9,585,000)	(9,585,000)
Accumulated amortisation | Tradenames
Intangible assets
Opening net book amount	(970,000)
Closing net book amount	¥ (1,198,000)	¥ (970,000)

Intangible assets - Estimated g

Intangible assets - Estimated growth Rates (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Estimated growth rates for cash flow projections
Period for cash flow projections	5 years
Discount rate	5.70%	5.70%
Extrapolated growth rate	5%	5%
Bottom of Range
Estimated growth rates for cash flow projections
Annual compound revenue growth rate	6%	6%
Annual gross profit ratio	47%	53.80%
Top of Range
Estimated growth rates for cash flow projections
Annual compound revenue growth rate	10%	10%
Annual gross profit ratio	62%	65%

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, 2023	Dec. 31, 2022
Investments accounted for using the equity method
At 1 January	¥ 1,160	¥ 4,904
Acquisition		860
Disposal	¥ (1,160)	(600)
Transfer to assets held-for-sale		(4,004)
At 31 December		¥ 1,160

Investments accounted for usi_4

Investments accounted for using the equity method - Nature of investments in associates (Details) - CNY (¥) ¥ in Thousands			12 Months Ended
	Jan. 10, 2023	May 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Summarised balance sheet
Payments for acquisition of equity interest		¥ 581	¥ 642	¥ 7,273
Shenzhen Pengai Lizhi Aesthetic Medical Clinic
Summarised balance sheet
Percentage of share capital acquired				17%
Payments for acquisition of equity interest				¥ 2,000
Shenzhen Miaoyan Medical Technology Investment Co., Ltd
Summarised balance sheet
Percentage of share capital acquired				60%
Consideration for sale of equity interest	¥ 1,900
Payments for acquisition of equity interest				¥ 2,000
Agreement to sell equity interest (as a percent)	100%
Moyan (Shenzhen) Network Technology Co., Ltd
Summarised balance sheet
Equity interest in associate (in percent)			46%
Shenzhen Xuri Jiayan Aesthetic Technology Co., Ltd.
Summarised balance sheet
Equity interest in associate (in percent)			30%
Shenzhen Pengai Lizhi Aesthetic Medical Clinic
Summarised balance sheet
Equity interest in associate (in percent)			43%

Investments accounted for usi_5

Investments accounted for using the equity method - Summarised balance sheet (Details) - CNY (¥)	Dec. 31, 2023	Dec. 31, 2022
Current
Cash and cash equivalents	¥ 62,336,000	¥ 12,161,000
Total current liabilities	(411,380,000)	(543,836,000)
Total non-current assets	449,095,000	468,773,000
Net assets	¥ 33,629,000
Associates
Current
Cash and cash equivalents		33,000
Other current assets (excluding cash and cash equivalents)		4,611,000
Total current assets		4,644,000
Other current liabilities (including trade payables)		(2,654,000)
Total current liabilities		(2,654,000)
Total non-current assets		300,000
Net assets		¥ 2,290,000

Investments accounted for usi_6

Investments accounted for using the equity method - Summarised statement of comprehensive income (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments accounted for using the equity method
Revenue	¥ 682,587,000	¥ 670,091,000	¥ 645,593,000
Depreciation and amortisation	(65,897,000)	(61,485,000)	(99,135,000)
Loss before income tax	(55,058,000)	(94,173,000)	(681,314,000)
Income tax credit	15,136,000	18,067,000	11,798,000
Loss for the year	¥ (39,922,000)	¥ (76,106,000)	¥ (669,516,000)

Trade and other receivables, _3

Trade and other receivables, deposits and prepayments (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Trade and other receivables, deposits and prepayments
Trade receivables	¥ 9,841	¥ 6,193
Other receivables	923	1,460
Deposits	7,342	17,976
Prepayments	20,450	31,030
Advances to employees	1,086	720
Trade and other receivables , Gross	29,801	51,186
Less: Non-current portion
Prepayments and deposits	(8,146)	(25,299)
Current portion	¥ 21,655	¥ 25,887
Age of trade receivables	30 days

Inventories (Details)

Inventories (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Inventories
Pharmaceuticals	¥ 789,000	¥ 1,304,000
Medical consumables	14,792,000	26,549,000
Total current inventories	15,581,000	27,853,000
Cost of inventories recognised as expense	¥ 204,881,000	¥ 160,152,000

Restricted cash and cash and _3

Restricted cash and cash and bank balances (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted cash and cash and bank balances
Restricted cash		¥ 1,547
Cash and cash equivalents
Cash at banks	¥ 62,320	12,138
Cash on hand	16	23
Total	¥ 62,336	¥ 12,161

Restricted cash and cash and _4

Restricted cash and cash and bank balances - Purpose of Consolidated Statement (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted cash and cash and bank balances
Cash and cash equivalents	¥ 62,336	¥ 12,161

Restricted cash and cash and _5

Restricted cash and cash and bank balances - Denominated in currencies (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and bank balances
Restricted bank deposit and cash and cash equivalents	¥ 62,336	¥ 13,708
RMB
Cash and bank balances
Restricted bank deposit and cash and cash equivalents	62,278	10,857
US dollars
Cash and bank balances
Restricted bank deposit and cash and cash equivalents	47	96
Hong Kong dollars
Cash and bank balances
Restricted bank deposit and cash and cash equivalents	¥ 11	5
Singapore dollars
Cash and bank balances
Restricted bank deposit and cash and cash equivalents		¥ 2,750

Assets held-for-sale (Details)

Assets held-for-sale (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2022 tranche	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
Assets held-for-sale
Investment in associate			¥ 1,160,000	¥ 4,904,000
Assets and liabilities classified as held for sale
Assets held-for-sale
Loss on fair value		¥ 1,083,000
Assets and liabilities classified as held for sale | Mendis Aesthetic PTE. Ltd
Assets held-for-sale
Investment in associate		¥ 4,004,000
Percentage of equity interest to be sold	44.40%
Number of equal tranches | tranche	2
Percentage of equity interest sold	22.20%

Share capital (Details)

Share capital (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands						1 Months Ended				12 Months Ended					36 Months Ended
	Aug. 18, 2023 shares	Aug. 16, 2023 ¥ / shares shares	Jul. 29, 2022 shares	Jul. 20, 2022 CNY (¥) ¥ / shares shares	Oct. 13, 2020 CNY (¥) shares	Feb. 28, 2023 CNY (¥)	Jul. 31, 2022 ¥ / shares	May 31, 2021 CNY (¥) ¥ / shares shares	May 31, 2021 USD ($) $ / shares shares	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 USD ($) $ / shares shares	Oct. 13, 2020 USD ($)	Jun. 01, 2019 shares
Nominal value
Issuance of shares, Nominal value | ¥												¥ 94,166
Preferred shares converted into ordinary share upon initial public offering (Note iii), Nominal value | ¥										¥ 24,755
Issuance of shares under Performance Incentive Plan | ¥										¥ 7,514		¥ 27,515		¥ 35,462
Number of ordinary shares repurchased															135,000	135,000
Ordinary shares reserved for issued																			5,940,452
Options outstanding under the Share Incentive Plan												1,128,750
Total consideration for share repurchases | ¥															¥ 2,023
Issuance of shares | ¥						¥ 170,000						¥ 94,153
Number of treasury shares										1,263,750		135,000			1,263,750		1,263,750
Borrowings. | ¥										¥ 105,343		¥ 201,876			¥ 105,343
Convertible note 2020 [Member]
Nominal value
Conversion price per ordinary share | ¥ / shares							¥ 4.203
Borrowings. | $																	$ 0
MY Universe (HK) Limited
Number of shares
Number of shares issued				36,402,570
Number of shares
Issuance of shares upon initial public offering (Note ii) (in shares)				36,402,570
Nominal value
Share issue price (in CNY per share) | ¥ / shares				¥ 4.67
Issuance of shares | ¥				¥ 170,000
Peak Asia Investment Holdings V Limited (ADV)
Number of shares
Number of shares issued		12,088,808
Number of shares
Issuance of shares upon initial public offering (Note ii) (in shares)		12,088,808
Nominal value
Conversion price per ordinary share | ¥ / shares		¥ 4.203
Seefar Global Holdings Limited
Number of shares
Number of shares issued	1,956,516
Number of shares
Issuance of shares upon initial public offering (Note ii) (in shares)	1,956,516
Shengli Family Limited
Nominal value
Ordinary shares reserved for issued										1,128,750					1,128,750		1,128,750
Ordinary shares
Authorised:
Par value per share | $ / shares																	$ 0.001
Nominal value
Number of ordinary shares repurchased										135,000	135,000
American depositary shares
Nominal value
Authorized to repurchase shares | $																		$ 6,000,000
Number of ordinary shares repurchased					135,000					45,000	45,000	45,000	45,000
Total consideration for share repurchases | ¥					¥ 2,000
Share capital
Nominal value
Issuance of shares, Nominal value | ¥												¥ 157
Preferred shares converted into ordinary share upon initial public offering (Note iii), Nominal value | ¥										¥ 338
Issuance of shares under Performance Incentive Plan | ¥										¥ 14
Share capital | Performance Incentive Plan
Number of shares
Issuance of shares under Performance Incentive Plan			1,927,793
Nominal value
Aggregate percentage of shares issued on total number of outstanding ordinary shares			2%
Share capital | Lafang
Number of shares
Issuance of shares to Hawyu (HK) Limited								5,329,410	5,329,410
Nominal value
Price per share | $ / shares									$ 8.50
Number of shares per ADS								3	3
Issuance of shares | $									$ 15,100,000
Share capital | Hawyu
Number of shares
Issuance of shares to Hawyu (HK) Limited								21,413,276	21,413,276
Nominal value
Price per ADS | (per share)								¥ 4.67	$ 2.1
Issuance of shares								¥ 100,000	$ 15,000,000
Share capital | Ordinary shares
Number of shares
Authorised, shares										1,500,000,000					1,500,000,000		1,500,000,000
Nominal value
Authorised, Nominal value										¥ 10,599					¥ 10,599		$ 1,500,000
Number of shares
Issued and paid at beginning, Number of shares										94,179,740	94,179,740	70,838,671	70,838,671
Issuance of shares to Hawyu (HK) Limited												21,413,276	21,413,276
Issuance of shares under Performance Incentive Plan												1,927,793	1,927,793
Issued and paid at ending, Number of shares										144,627,634	144,627,634	94,179,740	94,179,740	70,838,671	144,627,634	144,627,634
Nominal value
Balance at the beginning										¥ 626	$ 94,000	¥ 469	$ 72,000
Issuance of shares, Nominal value												144	21,000
Issuance of shares under Performance Incentive Plan												13	2,000
Balance at the end										¥ 978	$ 145,000	¥ 626	$ 94,000	¥ 469	¥ 978	$ 145,000
Share capital | Ordinary shares | MY Universe (HK) Limited
Number of shares
Number of shares issued										36,402,570	36,402,570
Number of shares
Issuance of shares upon initial public offering (Note ii) (in shares)										36,402,570	36,402,570
Nominal value
Issuance of shares, Nominal value										¥ 250	$ 36,000
Share capital | Ordinary shares | Peak Asia Investment Holdings V Limited (ADV)
Number of shares
Number of shares issued										12,088,808	12,088,808
Number of shares
Issuance of shares upon initial public offering (Note ii) (in shares)										12,088,808	12,088,808
Nominal value
Issuance of shares, Nominal value										¥ 88	$ 12,000
Share capital | Ordinary shares | Seefar Global Holdings Limited
Number of shares
Number of shares issued										1,956,516	1,956,516
Number of shares
Issuance of shares upon initial public offering (Note ii) (in shares)										1,956,516	1,956,516
Nominal value
Issuance of shares, Nominal value										¥ 14	$ 2,000

Other reserves (Details)

Other reserves (Details) - CNY (¥)		12 Months Ended
	Jan. 01, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other reserves
Balance at the beginning		¥ (125,880,000)	¥ (186,422,000)	¥ 425,736,000
Translation of foreign operations		(790,000)	(665,000)	574,000
Deregister of subsidiary			17,000
Disposal of subsidiary		(5,000)	18,140,000	20,840,000
Share-based payment		7,514,000	27,515,000	35,462,000
Addition of paid-in capital		170,001,000
Issuance of shares(Note 20)			94,166,000
Transaction costs related to issuance of shares			(5,128,000)
Convertible note convert into shares		24,755,000
Balance at the end		33,629,000	(125,880,000)	(186,422,000)
Share-based compensation expenses		7,514,000	27,528,000	35,463,000
Reserves
Other reserves
Balance at the beginning		1,028,510,000	909,411,000	870,355,000
Translation of foreign operations		(790,000)	(665,000)	574,000
Revaluation of investment properties upon transfer from property, plant and equipment		(1,498,000)	5,964,000
Deregister of subsidiary			17,000
Further acquisition of interests in a subsidiary (Note 31)				(555,000)
Disposal of subsidiary		(5,000)
Partial disposal of interests in a subsidiary without loss of control (Note 31)			(2,613,000)	3,575,000
Share-based payment		7,500,000	27,515,000	35,462,000
Addition of paid-in capital		170,001,000
Issuance of shares(Note 20)			94,009,000
Transaction costs related to issuance of shares			(5,128,000)
Convertible note convert into shares		24,417,000
Balance at the end		1,228,135,000	1,028,510,000	909,411,000
Capital reserve
Other reserves
Balance at the beginning		796,932,000	707,890,000	707,510,000
Deregister of subsidiary			17,000
Further acquisition of interests in a subsidiary (Note 31)				380,000
Addition of paid-in capital		170,001,000
Issuance of shares(Note 20)			94,153,000
Transaction costs related to issuance of shares			(5,128,000)
Convertible note convert into shares		24,417,000
Balance at the end		991,350,000	796,932,000	707,890,000
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	42,777,000	42,777,000
Disposal of subsidiary		(5,000)
Balance at the end		¥ 42,772,000	42,777,000	42,777,000
Threshold percentage of share capital reserves to total share capital after which appropriation is optional		50%
Share-based compensation reserve
Other reserves
Balance at the beginning		¥ 257,692,000	230,177,000	194,715,000
Share-based payment		7,500,000	27,515,000	35,462,000
Balance at the end		¥ 265,192,000	257,692,000	230,177,000
Threshold percentage of share capital reserves to total share capital after which appropriation is optional		10%
Reserve resulting from lapsing of options	¥ 27,515,000
Other reserve
Other reserves
Balance at the beginning		¥ (58,891,000)	(61,433,000)	(64,647,000)
Translation of foreign operations		(790,000)	(665,000)	574,000
Revaluation of investment properties upon transfer from property, plant and equipment		(1,498,000)	5,964,000
Further acquisition of interests in a subsidiary (Note 31)				(935,000)
Partial disposal of interests in a subsidiary without loss of control (Note 31)			(2,613,000)	3,575,000
Issuance of shares(Note 20)			(144,000)
Balance at the end		(61,179,000)	¥ (58,891,000)	¥ (61,433,000)
Share-based compensation expenses		¥ 4,226,000

Deferred income tax (Details)

Deferred income tax (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax
Deferred tax assets	¥ 76,938	¥ 61,163	¥ 45,765
Deferred tax liabilities	(9)		(285)
Tax losses
Deferred income tax
Deferred tax assets	76,572	60,002	43,323
Other temporary differences
Deferred income tax
Deferred tax assets	366	¥ 1,161	¥ 2,442
Deferred tax liabilities	¥ (9)

Deferred income tax - Deferred

Deferred income tax - Deferred income tax assets - net (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred income tax
Deferred income tax assets	¥ 76,938	¥ 61,163
Deferred income tax liabilities	(9)
Deferred income tax assets - net	76,929	61,163	¥ 45,480
After more than 12 months
Deferred income tax
Deferred income tax assets	76,938	¥ 61,163
Deferred income tax liabilities	¥ (9)

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, 2023	Dec. 31, 2022
Gross movement on deferred income tax accounts
Deferred tax liability (asset) at beginning of period	¥ 61,163	¥ 45,480
Disposal of subsidiaries (Note 30)	(6)	(5,292)
Credited to consolidated statement of comprehensive income	16,136	21,375
Translation adjustment	(364)	(400)
Deferred tax liability (asset) at end of period	76,929	61,163
Deferred income tax assets
Balance at the beginning	61,163	45,765
Disposal of subsidiaries (Note 30)	(6)	(5,292)
Credited to consolidated statement of comprehensive income	16,145	21,090
Translation adjustment	(364)	(400)
Balance at the end	76,938	61,163
Deferred income tax liabilities
Balance at the beginning		285
Credited to consolidated statement of comprehensive income	(9)	(285)
Balance at the end	(9)
Tax losses
Deferred income tax assets
Balance at the beginning	60,002	43,323
Disposal of subsidiaries (Note 30)	(6)	(5,292)
Credited to consolidated statement of comprehensive income	16,941	22,371
Translation adjustment	(364)	(400)
Balance at the end	76,572	60,002
Others
Deferred income tax assets
Balance at the beginning	1,161	2,442
Credited to consolidated statement of comprehensive income	(796)	(1,281)
Balance at the end	366	1,161
Deferred income tax liabilities
Balance at the end	(9)
Medical licenses and tradenames
Deferred income tax liabilities
Balance at the beginning		285
Credited to consolidated statement of comprehensive income	(9)	¥ (285)
Balance at the end	¥ (9)

Deferred income tax - Unrecogni

Deferred income tax - Unrecognised tax losses which can be carried forward against future taxable income (Details) - CNY (¥)	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax
Unrecognised tax losses	¥ 78,783,000	¥ 103,988,000
Within 5 years
Deferred income tax
Unrecognised tax losses	¥ 78,783,000	¥ 103,988,000

Borrowings (Details)

Borrowings (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Non-current
Bank borrowings - secured	¥ 15,610	¥ 3,248
Other borrowings - secured	15,800	25,862
Non-current borrowings, total	31,410	29,110
Current
Bank borrowings - secured	42,196	108,534
Other borrowings - secured	31,737	64,232
Current borrowings, total	73,933	172,766
Borrowings, total	¥ 105,343	¥ 201,876
Effective interest rate on the borrowings	7.60%

Trade and accruals, other pay_3

Trade and accruals, other payables and provisions (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Trade and accruals, other payables and provisions
Trade payables	¥ 42,402	¥ 46,752
Accrued employee benefits	16,521	15,004
Accrued operating expenses	5,619	5,772
Accrued professional service fees	6,708	1,749
Deposits received	689	1,147
Duty and tax payable other than corporate income tax	4,784	4,375
Other payables to suppliers of plant and equipment	158	177
Others	396	15,514
Trade and accruals, other payables and provisions	¥ 77,277	¥ 90,490

Contract liabilities (Details)

Contract liabilities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Contract liabilities
Advance receipt for treatment packages	¥ 193,042	¥ 169,725

Convertible note (Details)

Convertible note (Details)			1 Months Ended
	Aug. 16, 2023 ¥ / shares shares	Sep. 17, 2020 USD ($)	Jul. 31, 2022 ¥ / shares	Jul. 20, 2022 USD ($)	Jul. 20, 2022 CNY (¥) ¥ / shares	Sep. 17, 2020 CNY (¥)
Peak Asia Investment Holdings V Limited (ADV)
Redemption feature
Conversion price per ordinary share	¥ 4.203
Number of shares issued | shares	12,088,808
Conversion price per ordinary share	¥ 4.203
Exit payment agreement
Redemption feature
Exercise price of warrant					¥ 4.67
Fair value of warrants | ¥					¥ 19,506,000
Maximum | Exit payment agreement
Redemption feature
Face amount of debt | $				$ 2,700,000
Convertible note 2020
Redemption feature
Face amount of debt		$ 5,000,000				¥ 33,474,000
Conversion price per ordinary share			¥ 4.203
Conversion price per ordinary share			¥ 4.203
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%

Convertible note - Changes in c

Convertible note - Changes in convertible notes (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair value measurement
Liabilities at beginning of period	¥ 672,250
Liabilities at end of period	527,035	¥ 672,250
Convertible note 2020
Fair value measurement
Liabilities at beginning of period	64,565	38,059	¥ 34,190
Converted into shares	(45,175)
Unrealised exchange difference			(371)
Change in fair value	116	26,506	4,240
Repayment during the year	(45,175)
Liabilities at end of period	19,506	64,565	38,059
Fair value changes for the year included in consolidated statement of comprehensive income (loss) for liabilities held at the year end	¥ 116	¥ 26,506	¥ 4,240

Cash generated from operation_2

Cash generated from operations (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash generated from operations
Loss before income tax	¥ (55,058)	¥ (94,173)	¥ (681,314)
Adjustments for:
Finance income	(78)	(155)	(113)
Finance costs	14,474	21,635	27,230
Amortisation of intangible assets	574	395	5,970
Depreciation of property, plant and equipment	65,323	61,091	93,165
Loss on disposal of property, plant and equipment	1,981	20,465	14,349
Loss on disposal of intangible assets		3	1,350
Share of profits of investments accounted for using the equity method			(81)
Fair value loss of investment properties	154
Fair value loss of convertible note	116	26,506	4,240
Convertible note convert into shares	(20,420)
Reversal of contingent consideration			(1,523)
Share-based payment	7,514	27,528	35,463
Impairment of non-current assets			313,959
Unrealised exchange difference			(373)
Loss on disposal of associates	220	2,920
Loss on disposal of subsidiaries	4,860	11,329	21,558
Loss on liquidation of subsidiaries	373
Loss on ceased operation of subsidiaries	813
Total before changes in working capital	20,846	77,544	(166,120)
Changes in working capital:
Inventories	12,272	(294)	(800)
Trade receivables	(3,966)	1,302	3,849
Other receivables, deposits and prepayments	3,088	1,718	34,108
Trade payables	28,019	16,394	4,543
Accruals, other payables and provisions	(9,283)	(104,435)	(52,018)
Contract liabilities	23,330	(66,728)	228,153
Cash flow from operating activities	¥ 74,306	¥ (74,499)	¥ 51,715

Cash generated from operation_3

Cash generated from operations - Net debt (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Total
Balance at beginning of year	¥ (328,532)	¥ (367,847)
Cash Flows	91,121	39,315
Balance at end of year	(237,411)	(328,532)
Borrowings due within 1 year
Liabilities from financing activities
Balance at beginning	(172,766)	(156,208)
Cash flows	98,833	(16,558)
Balance at ending	(73,933)	(172,766)
Borrowings due after 1 year
Liabilities from financing activities
Balance at beginning	(29,110)	(77,607)
Cash flows	(2,300)	48,497
Balance at ending	(31,410)	(29,110)
Lease liabilities due within 1 year
Liabilities from financing activities
Balance at beginning	(27,352)	(28,278)
Cash flows	(11,318)	926
Balance at ending	(38,670)	(27,352)
Lease Liabilities due after 1 year
Liabilities from financing activities
Balance at beginning	(99,304)	(105,754)
Cash flows	5,906	6,450
Balance at ending	¥ (93,398)	¥ (99,304)

Business combination - Shenzhen

Business combination - Shenzhen Miaoyan Aesthetic Medical Clinic (Details) - CNY (¥)			12 Months Ended
	May 30, 2022	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Assets and liabilities recognised as a result of the acquisition
Cash and cash equivalents	¥ 119,000
Net outflow of cash and cash equivalents
Cash Consideration	(1,000,000)
Other payables	300,000
Cash and cash equivalents	119,000
Net outflow of cash and cash equivalents included in cash flows from investing activities	¥ (581,000)		¥ (642,000)	¥ (7,273,000)
Pro forma revenue		¥ 1,113,000
Pro forma profit/(loss) after tax		¥ (1,223,000)
Shenzhen Miaoyan Medical Beauty Clinic
Business combination
Percentage of share capital acquired	100%
Consideration paid	¥ 1,000,000
Goodwill	778,698
Assets and liabilities recognised as a result of the acquisition
Property, plant and equipment	2,832,000
Prepayments	430,000
Inventories	348,000
Trade receivables and other receivables	109,000
Cash and cash equivalents	119,000
Trade payables and other payables	(3,617,000)
Net identifiable assets acquired	221,000
Add: goodwill	778,698
Net assets acquired	1,000,000
Net outflow of cash and cash equivalents
Cash and cash equivalents	119,000
Revenue since acquisition	1,113,000
Net profit (loss) since acquisition	¥ 1,223,000

Disposals of subsidiaries - Dis

Disposals of subsidiaries - Disposals of subsidiaries financial impacts (Details) - CNY (¥)	1 Months Ended
	Dec. 31, 2023	Oct. 31, 2023	May 31, 2023	Oct. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Net assets disposed of:
Property, plant and equipment	¥ 304,219,000				¥ 320,816,000	¥ 358,749,000
Deferred tax assets	76,938,000				61,163,000	45,765,000
Prepayments	20,450,000				31,030,000
Inventories	15,581,000				27,853,000
Investment in associate					1,160,000	4,904,000
Trade and other receivables	21,655,000				25,887,000
Cash and cash equivalents	62,336,000				12,161,000
Contract liabilities	(193,042,000)				(169,725,000)
Income tax liabilities	(12,157,000)				(12,738,000)
Lease liabilities	(119,701,000)				(126,656,000)	¥ (134,032,000)
Non-controlling interests	15,258,000				12,222,000
Reserve	(1,228,135,000)				¥ (1,028,510,000)
Net assets of subsidiary	33,629,000
Disposals of subsidiaries | Nanchang Peng'ai Xiuqi Aesthetic Medical Hospital Co., Ltd
Net assets disposed of:
Property, plant and equipment				¥ 3,480,000
Deferred tax assets				1,449,000
Prepayments				306,000
Inventories				1,165,000
Trade and other receivables				298,000
Trade payables and other payables				(5,005,000)
Lease liabilities				(7,496,000)
Non-controlling interests				6,589,000
Net assets of subsidiary				786,000
Loss on disposal of subsidiary				2,214,000
Cash consideration				3,000,000
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary
Cash received				1,500,000
Net cash inflow in respect of disposal of subsidiary				1,500,000
Disposals of subsidiaries | Changsha Peng'ai Aesthetic Medical Hospital Co., Ltd
Net assets disposed of:
Property, plant and equipment				15,425,000
Goodwill				176,000
Deferred tax assets				3,435,000
Prepayments				159,000
Inventories				1,843,000
Trade and other receivables				1,844,000
Cash and cash equivalents				52,000
Trade payables and other payables				(7,461,000)
Contract liabilities				(51,000)
Income tax liabilities				(506,000)
Lease liabilities				(8,304,000)
Non-controlling interests				11,551,000
Net assets of subsidiary				18,163,000
Loss on disposal of subsidiary				(13,543,000)
Cash consideration				4,620,000
Disposals of subsidiaries | Changsha Peng'ai Xiuqi Aesthetic Medical Hospital Co., Ltd
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary
Cash received				3,150,000
Cash and cash equivalents disposed of				(52,000)
Net cash inflow in respect of disposal of subsidiary				¥ 3,098,000
Disposals of subsidiaries | Shenzhen Miaoyan Medical Technology Investment Co., Ltd
Net assets disposed of:
Property, plant and equipment			¥ 25,000
Intangible assets			6,000
Deferred tax assets			6,000
Prepayments			192,000
Inventories			860,000
Trade and other receivables			20,294,000
Cash and cash equivalents			26,000
Trade payables and other payables			(16,558,000)
Contract liabilities			(13,000)
Income tax liabilities			(209,000)
Reserve			(5,000)
Net assets of subsidiary			4,992,000
Loss on disposal of subsidiary			(3,092,000)
Cash consideration			1,900,000
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary
Cash received			1,900,000
Cash and cash equivalents disposed of			(26,000)
Net cash inflow (outflow) in respect of disposal			¥ 1,874,000
Disposals of subsidiaries | Ningbo Beilun Pengai Aesthetic Medical Clinic Co., Ltd. [Member]
Net assets disposed of:
Property, plant and equipment		¥ 543,000
Intangible assets		24,000
Trade and other receivables		508,000
Cash and cash equivalents		76,000
Trade payables and other payables		(995,000)
Net assets of subsidiary		156,000
Loss on disposal of subsidiary		(156,000)
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary
Cash and cash equivalents disposed of		(76,000)
Net cash inflow (outflow) in respect of disposal		¥ (76,000)
Disposals of subsidiaries | Stargaze Wealth Limited
Net assets disposed of:
Property, plant and equipment	842,000
Prepayments	1,000
Assets held-for-sale	1,083,000
Trade and other receivables	16,690,000
Cash and cash equivalents	974,000
Trade payables and other payables	(18,114,000)
Exchange reserve	136,000
Net assets of subsidiary	1,612,000
Loss on disposal of subsidiary	(1,612,000)
Analysis of the net outflow of cash and cash equivalents in respect of the disposal of subsidiary
Cash and cash equivalents disposed of	(974,000)
Net cash inflow (outflow) in respect of disposal	¥ (974,000)

Transactions with non interesti

Transactions with non interesting - Non controlling interests and the impact (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total impact of transactions with non-controlling interests	¥ (3,361)	¥ 1,434
Reserves
Total impact of transactions with non-controlling interests	(2,613)	3,020
Non-controlling interests
Total impact of transactions with non-controlling interests	(748)	(1,586)
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd.
Acquisition of additional interests in subsidiaries		(360)
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd. | Reserves
Acquisition of additional interests in subsidiaries		(220)
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd. | Non-controlling interests
Acquisition of additional interests in subsidiaries		(140)
Changsha Pengai Aesthetic Medical Hospital Co. Ltd.
Acquisition of additional interests in subsidiaries		(315)
Disposal of interests in subsidiaries without loss of control		1,575
Changsha Pengai Aesthetic Medical Hospital Co. Ltd. | Reserves
Acquisition of additional interests in subsidiaries		(715)
Disposal of interests in subsidiaries without loss of control		3,575
Changsha Pengai Aesthetic Medical Hospital Co. Ltd. | Non-controlling interests
Acquisition of additional interests in subsidiaries		400
Disposal of interests in subsidiaries without loss of control		¥ (2,000)
Shenzhen Pengai Xiuqi Medical Aesthetic Clinic Co. Ltd.
Acquisition of additional interests in subsidiaries	(750)
Shenzhen Pengai Xiuqi Medical Aesthetic Clinic Co. Ltd. | Reserves
Acquisition of additional interests in subsidiaries	(224)
Shenzhen Pengai Xiuqi Medical Aesthetic Clinic Co. Ltd. | Non-controlling interests
Acquisition of additional interests in subsidiaries	(526)
Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd.
Acquisition of additional interests in subsidiaries	(2,760)
Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. | Reserves
Acquisition of additional interests in subsidiaries	2,054
Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. | Non-controlling interests
Acquisition of additional interests in subsidiaries	(4,814)
Yantai Pengai Jiayan
Acquisition of additional interests in subsidiaries	(300)
Yantai Pengai Jiayan | Reserves
Acquisition of additional interests in subsidiaries	288
Yantai Pengai Jiayan | Non-controlling interests
Acquisition of additional interests in subsidiaries	(588)
Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. | Reserves
Acquisition of additional interests in subsidiaries	86
Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. | Non-controlling interests
Acquisition of additional interests in subsidiaries	¥ (86)

Transactions with non-control_3

Transactions with non-controlling interests - Huizhou Pengai (Details) - Huizhou Pengai Aesthetic Medical Hospital Co., Ltd. - CNY (¥)			12 Months Ended
	Sep. 13, 2021	Sep. 12, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Carrying amount of non-controlling interests acquired					¥ 140,000
Consideration paid for non-controlling interests	¥ 360,000				360,000
Gain on acquisition within equity					¥ 220,000
Proportion of equity interest held (as a percent)	67.50%	65.50%	67.50%	67.50%
Equity Interest Purchase
Increase in equity interest	2%

Transactions with non-control_4

Transactions with non-controlling interests - Changsha Pengai (Details) - Changsha Pengai Aesthetic Medical Hospital Co. Ltd. - CNY (¥)			12 Months Ended
	Sep. 24, 2021	Sep. 23, 2021	Dec. 31, 2021
Carrying amount of non-controlling interests acquired			¥ 400,000
Consideration paid for non-controlling interests	¥ (315,000)		(315,000)
Excess of consideration paid to non controlling interest recognised within equity			(715,000)
Proportion of equity interest held (as a percent)	15%	3%
Carrying amount of non-controlling interests disposed of			2,000,000
Less: consideration received from non-controlling interest	¥ 1,575,000		1,575,000
Gain on disposal within equity			¥ 3,575,000
Equity Interest Purchase
Increase in equity interest	3%
Equity Interest Sale
Increase in equity interest	15%

Transactions with non-control_5

Transactions with non-controlling interests - Shenzhen Pengai Xiuqi (Details) - Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co., Ltd. - CNY (¥)		12 Months Ended
	May 30, 2022	Dec. 31, 2022
Carrying amount of non-controlling interests acquired		¥ (224,000)
Consideration paid for non-controlling interests	¥ (750,000)	(750,000)
Excess of consideration paid to non controlling interest recognised within equity		¥ (526,000)
Proportion of equity interest held (as a percent)	5%
Equity Interest Purchase
Equity interests disposed off (as a percent)	5%

Transactions with non-control_6

Transactions with non-controlling interests - Guangzhou Pengai (Details) - Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd. - CNY (¥)		12 Months Ended
	Jun. 15, 2022	Dec. 31, 2023	Dec. 31, 2022
Carrying amount of non-controlling interests acquired			¥ 2,054,000
Consideration paid for non-controlling interests	¥ (2,760,000)		(2,760,000)
Excess of consideration paid to non controlling interest recognised within equity			¥ (4,814,000)
Proportion of equity interest held (as a percent)	20%	96%	96%
Equity Interest Purchase
Increase in equity interest	20%

Transactions with non-control_7

Transactions with non-controlling interests - Guangzhou Pengai Xiuqi (Details). - Guangzhou Pengai Xiuqi Aesthetic Medical Clinic Co., Ltd. - CNY (¥) ¥ in Thousands			12 Months Ended
	Jun. 20, 2022	Jun. 19, 2022	Dec. 31, 2022
Carrying amount of non-controlling interests acquired			¥ 86
Excess of consideration paid to non controlling interest recognised within equity			¥ (86)
Proportion of ownership interest held	70%	55%
Increase in equity interest	20%

Transactions with non-control_8

Transactions with non-controlling interests - Yantai Pengai (Details) - Yantai Pengai Jiayan - CNY (¥)		12 Months Ended
	Jul. 12, 2022	Dec. 31, 2022
Carrying amount of non-controlling interests acquired		¥ 288,000
Consideration paid for non-controlling interests	¥ (300,000)	(300,000)
Excess of consideration paid to non controlling interest recognised within equity		¥ (588,000)
Proportion of equity interest held (as a percent)	1%
Equity Interest Purchase
Increase in equity interest	1%

Share based compensation - Shar

Share based compensation - Share Incentive Plan (Details)	Jun. 01, 2019 item shares
Share-based compensation
Ordinary shares reserved for issued | shares	5,940,452
Percentage of share options vesting one year from date of grant	25%
Percentage of share options vesting in equal monthly installments after one year from date of grant	75%
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, 2022 CNY (¥) Option ¥ / shares
Share based compensation
Number of options outstanding at beginning of year	1,270,445
Number of options vested	(1,270,445)
Number of options outstanding at end of year	0
Weighted average exercise price of share options outstanding at beginning of period | ¥ / shares	¥ 0.007
Weighted average grant date fair value of share options outstanding at beginning of year | ¥	¥ 28.01
Weighted average grant date fair value of share options outstanding at end of year | ¥	¥ 0

Share based compensation - Op_2

Share based compensation - Option Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2023
Share based compensation
Risk free interest rate	2.20%
Expected dividend yield	0%
Expected volatility	57.87%
Exercise multiples	2.2
Contractual life	10

Share based compensation - Addi

Share based compensation - Additional Information (Details)		1 Months Ended	12 Months Ended
	Jul. 29, 2022 CNY (¥) shares	Aug. 31, 2023 shares	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022 CNY (¥) Option	Dec. 31, 2021 CNY (¥) Option	Dec. 31, 2023 $ / shares	Jul. 31, 2022 shares
Share-based compensation
Exercise price | $ / shares						$ 0.001
Number of share options outstanding | Option				0	1,270,445
Share-based payment | ¥			¥ 7,514,000	¥ 27,528,000	¥ 35,463,000
Seefar Global Holdings Limited [Member]
Share-based compensation
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							4,655,386
Class of Warrant or Right, Outstanding Shares		2,698,870
Stock Issued During Period, Warrants Exercises		1,956,516
Performance Incentive Plan
Share-based compensation
Number of shares issued	1,927,793
Percentage of outstanding shares issued	2%
Consideration for shares issued | ¥	¥ 0

Summarised financial informat_3

Summarised financial information of subsidiaries with material non-controlling interests - Summarised balance sheets (Details) - CNY (¥)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Liabilities	¥ (411,380,000)	¥ (543,836,000)
Total current net assets/(liabilities)	(299,810,000)
Noncurrent
Assets	449,095,000	468,773,000
Liabilities	(115,655,000)	¥ (128,414,000)
Net assets/(liabilities)	¥ 33,629,000
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)	40%	40%	21%
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd.
Current
Assets	¥ 33,060,000	¥ 23,004,000	¥ 17,024,000
Liabilities	(23,017,000)	(17,145,000)	(15,541,000)
Total current net assets/(liabilities)	10,043,000	5,859,000	1,483,000
Noncurrent
Assets	8,958,000	5,466,000	3,868,000
Liabilities	(9,167,000)	(3,495,000)	(733,000)
Total noncurrent net assets	(209,000)	1,971,000	3,135,000
Net assets/(liabilities)	9,834,000	7,830,000	4,618,000
Shanghai Pengai Aesthetic Medical Clinic Co., Ltd.
Current
Assets	20,587,000	14,761,000	13,772,000
Liabilities	(56,395,000)	(50,260,000)	(46,764,000)
Total current net assets/(liabilities)	(35,808,000)	(35,499,000)	(32,992,000)
Noncurrent
Assets	46,180,000	41,102,000	40,871,000
Liabilities	(39,215,000)	(29,174,000)	(29,040,000)
Total noncurrent net assets	6,965,000	11,928,000	11,831,000
Net assets/(liabilities)	(28,843,000)	(23,571,000)	(21,161,000)
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd.
Current
Assets	19,509,000	8,773,000	10,252,000
Liabilities	(46,968,000)	(32,844,000)	(33,393,000)
Total current net assets/(liabilities)	(27,459,000)	(24,071,000)	(23,141,000)
Noncurrent
Assets	36,573,000	30,261,000	26,429,000
Liabilities	(4,631,000)
Total noncurrent net assets	31,942,000	30,261,000	26,429,000
Net assets/(liabilities)	4,483,000	6,190,000	3,288,000
Haikou Pengai Aesthetic Medical Hospital Co., Ltd.
Current
Assets	5,339,000	4,510,000	4,546,000
Liabilities	(25,022,000)	(22,396,000)	(23,484,000)
Total current net assets/(liabilities)	(19,683,000)	(17,886,000)	(18,938,000)
Noncurrent
Assets	12,256,000	15,295,000	18,964,000
Liabilities	(4,640,000)	(5,450,000)	(5,808,000)
Total noncurrent net assets	7,616,000	9,845,000	13,156,000
Net assets/(liabilities)	(12,067,000)	(8,041,000)	(5,782,000)
Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd
Current
Assets	3,441,000	2,909,000	3,753,000
Liabilities	(31,624,000)	(25,394,000)	(31,845,000)
Total current net assets/(liabilities)	(28,183,000)	(22,485,000)	(28,092,000)
Noncurrent
Assets	29,119,000	28,832,000	33,234,000
Liabilities	(17,088,000)	(16,778,000)	(17,086,000)
Total noncurrent net assets	12,031,000	12,054,000	16,148,000
Net assets/(liabilities)	¥ (16,152,000)	¥ (10,431,000)	¥ (11,944,000)

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Summarised financial information of subsidiaries with material non controlling interests
Revenue	¥ 682,587	¥ 670,091	¥ 645,593
(Loss)/profit before income tax	(55,058)	(94,173)	(681,314)
Income tax (expense)/credit	15,136	18,067	11,798
(Loss)/profit and total comprehensive (loss)/income for the year	(42,210)	(70,807)	(668,942)
Total comprehensive (loss)/income allocated to noncontrolling interests	(2,490)	141	(82,897)
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd.
Summarised financial information of subsidiaries with material non controlling interests
Revenue	36,952	32,679	21,561
(Loss)/profit before income tax	6,252	4,261	(8,222)
Income tax (expense)/credit	(1,563)	1,049	297
(Loss)/profit and total comprehensive (loss)/income for the year	4,689	3,212	(7,925)
Total comprehensive (loss)/income allocated to noncontrolling interests	1,524	1,044	(2,734)
Dividend paid to noncontrolling interests	2,685		1,116
Shanghai Pengai Aesthetic Medical Clinic Co., Ltd.
Summarised financial information of subsidiaries with material non controlling interests
Revenue	44,422	41,585	21,674
(Loss)/profit before income tax	(7,031)	(3,213)	(25,217)
Income tax (expense)/credit	1,758	(803)	1,347
(Loss)/profit and total comprehensive (loss)/income for the year	(5,273)	(2,410)	(23,870)
Total comprehensive (loss)/income allocated to noncontrolling interests	(1,055)	(482)	(4,737)
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd.
Summarised financial information of subsidiaries with material non controlling interests
Revenue	51,431	37,106	28,251
(Loss)/profit before income tax	(2,776)	3,871	(19,411)
Income tax (expense)/credit	1,068	968	2,586
(Loss)/profit and total comprehensive (loss)/income for the year	(1,708)	2,903	(16,825)
Total comprehensive (loss)/income allocated to noncontrolling interests	(102)	174	(1,851)
Haikou Pengai Aesthetic Medical Hospital Co., Ltd.
Summarised financial information of subsidiaries with material non controlling interests
Revenue	32,421	30,474	24,134
(Loss)/profit before income tax	(5,369)	(2,946)	(10,966)
Income tax (expense)/credit	1,342	(688)	(84)
(Loss)/profit and total comprehensive (loss)/income for the year	(4,027)	(2,258)	(11,050)
Total comprehensive (loss)/income allocated to noncontrolling interests	(523)	(294)	(1,436)
Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd
Summarised financial information of subsidiaries with material non controlling interests
Revenue	28,874	36,763	15,295
(Loss)/profit before income tax	(8,099)	2,018	(21,773)
Income tax (expense)/credit	2,378	505	1,795
(Loss)/profit and total comprehensive (loss)/income for the year	(5,721)	1,513	(19,978)
Total comprehensive (loss)/income allocated to noncontrolling interests	¥ (286)	¥ 166	¥ (2,198)

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Cash generated from operations	¥ 74,306	¥ (74,499)	¥ 51,715
Income tax paid	(20)	(627)	(624)
Net cash generated from operating activities	74,286	(75,126)	51,091
Net cash used in investing activities	(52,246)	3,111	(11,525)
Net cash used in financing activities	29,062	45,552	(45,235)
Net (decrease)/increase in cash and cash equivalents	51,102	(26,463)	(5,669)
Cash and cash equivalents at beginning of the year	12,161
Cash and cash equivalents at end of the year	62,336	12,161
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd.
Cash flows from operating activities
Cash generated from operations	(1,127)	(1,905)	1,217
Income tax paid		(136)	(211)
Net cash generated from operating activities	(1,127)	(2,041)	1,006
Net cash used in investing activities	(2,955)	(68)	(589)
Net cash used in financing activities	6,344	2,520	(18)
Net (decrease)/increase in cash and cash equivalents	2,262	411	399
Cash and cash equivalents at beginning of the year	1,106	695	296
Cash and cash equivalents at end of the year	3,368	1,106	695
Shanghai Pengai Aesthetic Medical Clinic Co., Ltd.
Cash flows from operating activities
Cash generated from operations	(1,110)	(11,224)	2,587
Income tax paid			(27)
Net cash generated from operating activities	(1,110)	(11,224)	2,560
Net cash used in investing activities	(715)	(20)	(2,437)
Net cash used in financing activities	2,380	10,783
Net (decrease)/increase in cash and cash equivalents	555	(461)	123
Cash and cash equivalents at beginning of the year	123	584	461
Cash and cash equivalents at end of the year	678	123	584
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd.
Cash flows from operating activities
Cash generated from operations	(3,492)	(81)	(1,419)
Net cash generated from operating activities	(3,492)	(81)	(1,419)
Net cash used in investing activities	(997)	(13)	(767)
Net cash used in financing activities	8,817	(505)	2,880
Net (decrease)/increase in cash and cash equivalents	4,328	(599)	694
Cash and cash equivalents at beginning of the year	104	703	9
Cash and cash equivalents at end of the year	4,432	104	703
Haikou Pengai Aesthetic Medical Hospital Co., Ltd.
Cash flows from operating activities
Cash generated from operations	1,771	779	2,162
Income tax paid	(20)	(50)	(8)
Net cash generated from operating activities	1,751	729	2,154
Net cash used in investing activities	(30)	(594)	(1,300)
Net cash used in financing activities		(586)	(100)
Net (decrease)/increase in cash and cash equivalents	1,721	(451)	754
Cash and cash equivalents at beginning of the year	525	976	222
Cash and cash equivalents at end of the year	2,246	525	976
Yantai Pengai Jiayan Cosmetic Surgery Hospital Co., Ltd
Cash flows from operating activities
Cash generated from operations	1,691	58	47
Net cash generated from operating activities	1,691	58	47
Net cash used in investing activities	(421)	(115)
Net cash used in financing activities		(163)
Net (decrease)/increase in cash and cash equivalents	1,270	(220)	47
Cash and cash equivalents at beginning of the year	341	561	514
Cash and cash equivalents at end of the year	¥ 1,611	¥ 341	¥ 561

Commitments - Operating lease c

Commitments - Operating lease commitments (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Commitments
Maximum Amount of Damages Claimed by Plaintiffs	¥ 25,251,000	¥ 18,200,000
Restricted cash reserved in escrow account	0
Within 1 year
Commitments
Minimum future lease payments	¥ 15,000	¥ 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, 2023	Dec. 31, 2022
Related party transactions
Rental expenses	¥ 1,567	¥ 1,890
Service fee expenses	¥ 2,910	¥ 5,942

Related party transactions - Ba

Related party transactions - Balances with related parties (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balances with related parties
Amounts due from related parties	¥ 2,156	¥ 2,873
Related companies
Balances with related parties
Amounts due from related parties	1,500	2,217
Non-controlling interests
Balances with related parties
Amounts due from related parties	¥ 656	¥ 656

Related party transactions - Ke

Related party transactions - Key management compensation (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Related party transactions
Basic salaries and bonus	¥ 13,545	¥ 15,609
Share based compensation	7,514	27,528
Pension costs - defined contribution plans	273	319
Compensation paid or payable to key management for employee services	¥ 21,332	¥ 43,456

Related party transactions - Pe

Related party transactions - Personal guarantees and corporate guarantee from related company (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Dr. Zhou Pengwu, Dr. Zhou Yitao and Ms. Ding Wenting and Other Related Party
Related party transactions
Provision of guarantees or collateral to entity, related party transactions		¥ 78,977
Ms. Wu Binhua
Related party transactions
Provision of guarantees or collateral to entity, related party transactions	¥ 41,746
Dr. Zhou Pengwu and Ms. Ding Wenting
Related party transactions
Provision of guarantees or collateral to entity, related party transactions	¥ 16,060	¥ 32,805

Particulars of the subsidiari_3

Particulars of the subsidiaries (Details)				12 Months Ended
	Jun. 15, 2022	Sep. 13, 2021	Sep. 12, 2021	Dec. 31, 2023 CNY (¥) shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2023 $ / shares	Dec. 31, 2023 HKD ($) shares	Dec. 31, 2023 SGD ($) shares	Dec. 31, 2022 $ / shares	Dec. 31, 2022 HKD ($) shares	Dec. 31, 2022 SGD ($) shares
PRC subsidiaries
Registered capital/ issued share capital				¥ 978,000	¥ 626,000
Dragon Jade Holdings Limited
PRC subsidiaries
Number of shares issued | shares				1	1		1	1		1	1
Proportion of equity interest held (as a percent)				100%	100%
Stargaze Wealth Limited
PRC subsidiaries
Number of shares issued | shares				50,000	50,000		50,000	50,000		50,000	50,000
Proportion of equity interest held (as a percent)					100%
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
Proportion of equity interest held (as a percent)				100%	100%
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%	100%
Shenzhen Pengai Hospital Investment Management Co., Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 500,000,000	¥ 500,000,000
Proportion of equity interest held (as a percent)				100%	100%
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%
Shenzhen Pengcheng General Hospital Co., Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 85,000,000	¥ 85,000,000
Proportion of equity interest held (as a percent)				100%	100%
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%	100%
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%
Haikou Pengai Aesthetic Medical Hospital Co., Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 3,000,000	¥ 3,000,000
Proportion of equity interest held (as a percent)				87%	87%
Huizhou Pengai Aesthetic Medical Hospital Co., Ltd.
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%
Shanghai 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%	100%
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%
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
Proportion of equity interest held (as a percent)				100%	100%
Aih Investment Management Corp
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
Par value (in dollars per share) | $ / shares						$ 0.01			$ 0.01
Proportion of equity interest held (as a percent)				100%	100%
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%	100%
Shanghai 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)				80%	80%
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
Proportion of equity interest held (as a percent)				100%	100%
Guangzhou Pengai Aesthetic Medical Hospital Co., Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 18,800,000	¥ 18,800,000
Proportion of equity interest held (as a percent)	20%			96%	96%
Shenzhen Pengai Xiuqi Aesthetic Medical Hospital Co. Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 12,000,000	¥ 12,000,000
Proportion of equity interest held (as a percent)				94%	89%
Hangzhou Pengai Aesthetic Medical Clinic Co., Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 6,000,000	¥ 6,000,000
Proportion of equity interest held (as a percent)					100%
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%	64%
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)				73%	70.10%
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%	95%
Beijing Haiyue Xingguang Aesthetic Medical Clinic
PRC subsidiaries
Proportion of equity interest held (as a percent)				95%	95%
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)				95%	89%
Shenzhen Ruimei Enterprise Management Co., Ltd.
PRC subsidiaries
Registered capital/ issued share capital				¥ 100,000
Proportion of equity interest held (as a percent)				100%

Additional information_ Conde_3

Additional information: Condensed balance sheets of the parent company (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current assets
Other receivables, deposits and prepayments	¥ 21,655	¥ 25,887
Cash and cash equivalents	62,336	12,161
Total assets	560,664	546,370
Equity attributable to owners of the Company
Other reserves	1,228,135	1,028,510
Total equity	33,629	(125,880)	¥ (186,422)	¥ 425,736
Non-current liabilities
Total non-current liabilities	115,655	128,414
Current liabilities
Accruals, other payables and provisions	34,875	43,738
Total current liabilities	411,380	543,836
Total liabilities	527,035	672,250
Total equity and liabilities	560,664	546,370
Parent company
Current assets
Cash and cash equivalents	52	84	¥ 5,250	¥ 11,500
Total current assets	52	84
Total assets	52	84
Equity attributable to owners of the Company
Share capital and treasury shares	(1,134)	(1,397)
Other reserves	(26,649)	(72,728)
Total equity	(27,783)	(74,125)
Current liabilities
Accruals, other payables and provisions	8,329	9,644
Convertible note	19,506	64,565
Total current liabilities	27,835	74,209
Total liabilities	27,835	74,209
Total equity and liabilities	¥ 52	¥ 84

Additional information_ Conde_4

Additional information: Condensed statements of comprehensive income of the parent company (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Additional information: condensed financial statements of the Company
Selling expenses	¥ (232,254,000)	¥ (226,474,000)	¥ (404,683,000)
General and administrative expenses	(138,605,000)	(150,379,000)	(206,971,000)
Finance income	78,000	155,000	113,000
Finance costs	(14,474,000)	(21,635,000)	(27,230,000)
Fair value loss of convertible note	(116,000)	(26,506,000)	(4,240,000)
Loss before income tax	(55,058,000)	(94,173,000)	(681,314,000)
Income tax expense	(15,136,000)	(18,067,000)	(11,798,000)
Loss for the year	(39,922,000)	(76,106,000)	(669,516,000)
Items that may be subsequently reclassified to profit or loss
Currency translation differences	(790,000)	(665,000)	574,000
Total other comprehensive income/(loss) for the year, net of tax	(2,288,000)	5,299,000	574,000
Total comprehensive loss for the year	(42,210,000)	(70,807,000)	(668,942,000)
Parent company
Additional information: condensed financial statements of the Company
Loss from subsidiaries	(26,521,000)	(30,294,000)	(469,724,000)
Selling expenses			(511,000)
General and administrative expenses	(14,089,000)	(34,575,000)	(47,188,000)
Finance income		5,269,000
Finance costs	(528,000)		(338,000)
Other loss, net	20,420,000	(7,000)	(6,968,000)
Fair value loss of convertible note	(116,000)	(26,506,000)	(4,240,000)
Loss before income tax	(20,834,000)	(86,113,000)	(528,969,000)
Loss for the year	(20,834,000)	(86,113,000)	(528,969,000)
Items that may be subsequently reclassified to profit or loss
Currency translation differences	(791,000)	(665,000)	574,000
Total other comprehensive income/(loss) for the year, net of tax	(791,000)	(665,000)	574,000
Total comprehensive loss for the year	¥ (21,625,000)	¥ (86,778,000)	¥ (528,395,000)

Additional information_ Conde_5

Additional information: Condensed statements of cash flows of the parent company (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Additional information: condensed financial statements of the Company
Net cash used in operating activities	¥ 74,286	¥ (75,126)	¥ 51,091
Net cash used in investing activities	(52,246)	3,111	(11,525)
Net cash generated from financing activities	29,062	45,552	(45,235)
Net (decrease)/increase in cash and cash equivalents	51,102	(26,463)	(5,669)
Cash and cash equivalents at beginning of the year	12,161
Cash and cash equivalents at end of the year	62,336	12,161
Parent company
Additional information: condensed financial statements of the Company
Net cash used in operating activities	(170,915)	(88,987)	(6,250)
Net cash generated from financing activities	170,883	94,153
Net (decrease)/increase in cash and cash equivalents	(32)	(5,166)	(6,250)
Cash and cash equivalents at beginning of the year	84	5,250	11,500
Cash and cash equivalents at end of the year	¥ 52	¥ 84	¥ 5,250

Subsequent events (Details)

Subsequent events (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent events
Proceeds from disposal of subsidiaries		¥ 824,000	¥ 9,536,000	¥ (1,351,000)
Changsha Peng'ai Aesthetic Medical Hospital Co., Ltd
Subsequent events
Cash consideration	¥ 1,770,000
Changsha Peng'ai Aesthetic Medical Hospital Co., Ltd | Disposal of subsidiary
Subsequent events
Proceeds from disposal of subsidiaries	300,000
Loss on disposal of subsidiary	¥ 1,470,000