Aesthetic Medical International Holdings Group Limited

• China
• Aesthetic Medical International Holdings Group Limited
• Health-Care

AIH

We are a leading provider of aesthetic medical services in China. Leveraging over 20 years of clinical experience, we provide one-stop aesthetic service offerings that includes (i) surgical aesthetic treatments, such as eye surgery, rhinoplasty, breast augmentation and liposuction, (ii) non-surgical aesthetic treatments which comprise minimally invasive treatments and energy-based treatments such as laser, ultrasound and ultraviolet light treatments, and (iii) other aesthetic services such as cosmetic dentistry, as well as general medical services. According to Frost & Sullivan, we are the third largest private aesthetic medical services provider in China in terms of revenue in 2018. The total aesthetic medical services market in China, which includes both public and private services providers, grew at a CAGR of 23.6% from RMB52.1 billion in 2014 to RMB121.7 billion in 2018 and is expected to grow to RMB360.1 billion in 2023, representing a CAGR of 24.2% from 2018 to 2023, according to Frost & Sullivan.

The market size for private aesthetic medical services providers in China grew at a CAGR of 25.5% from RMB40.0 billion in 2014 to RMB99.2 billion in 2018 and is expected to grow to RMB316.6 billion in 2023, representing a CAGR of 26.1% from 2018 to 2023. In 2017, China was the second largest market for aesthetic medical services based on revenue, with the global market for aesthetic medical services totaling US$124.6 billion. As one of the market leaders in China, we believe we are well-positioned to benefit from the favorable tailwinds, including growing social acceptance of aesthetic medical services.

        We generate our revenue primarily from providing aesthetic treatments. In the six months ended June 30, 2019, we generated 40.1%, 51.2% and 8.7% of our revenue from providing surgical aesthetic treatments, non-surgical aesthetic treatments, and general healthcare and other aesthetic services, respectively, as compared with 41.2%, 49.1% and 9.7% for the year ended December 31, 2018. The majority of our revenue came from out-of-pocket payments by our customers, who pay in advance for treatments.

        We have grown our network significantly since our operation commenced in 1997. As of the date of this prospectus, we have a strategically established network comprising 21 treatment centers (including 19 wholly or majority owned centers). Our treatment centers spread across 15 cities in mainland China, Hong Kong and Singapore. As we continue to expand our network, one of our core business strategies is to develop our "flagship" medical institutions, which are typically large-scale full-service treatment centers that contribute a significant proportion of our revenue and are staffed with our most experienced doctors. We believe that developing flagship medical institutions will not only improve our brand awareness in the surrounding area, but also enable us to provide high-end, specialized, and complex medical services to customers referred from smaller-scale treatment centers within our network.

We currently have three flagship medical institutions—Pengcheng Hospital, Shenzhen Pengai and Chongqing Pengai. Our scalable business model is built on our highly standardized operating procedures across a centralized network, which we believe has allowed us to quickly and successfully expand. We intend to continue to expand our network into new cities throughout China and selected global markets through organic growth as well as strategic acquisitions. 

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