Aesthetic Medical International Holdings Group Ltd. (Nasdaq: AIH), known as “Peng’ai” in China, trading up 7.1% on increased revenue in the fourth quarter.
The Shenzhen-based plastic surgery company said in a statement that its revenue in the three months through December reached $55.6 million, up 52.3% year-over-year. The company attribute the increase primarily to an increased demand for services with higher price points.
AIH reported $12.5 million, or 18 cents per share, as a net loss in the fourth quarter, compared with $9.3 million, or 15 cents per share, last year.
“We have ended a challenging year and achieved the expected operating results with our efforts. In 2020, we actively took initiatives to contain the Covid-19 pandemic and carried out aesthetic medical services on the premise of ensuring the safety of our customers and employees. We insist on meeting our customers' aesthetic medical needs with high-standard medical technology, a strong medical team and high-quality services and building trust with our customers,” Pengwu Zhou, the chief executive officer of AIH, said in the statement.
AIH said it will continue to promote the development of aesthetic medical services, strengthen the medical team, and focus on research and development of aesthetic medical technology to meet the needs of an expanding customer base.
Total active customers dropped to 75,677 in the fourth quarter, down 9.7% year-over-year. Repeat customers, who had previously received at least one procedure, accounted for 53.8% of the active customer base.
The company reported a total of 557,218 treatments, including 92,922 surgical treatments and 413,235 non-surgical treatments, in 2020, representing an increase of 3.9% and 2.5% and an increase of 2.2%, respectively, from 536,469 total treatments, 90,658 surgical treatments and 404,316 non-surgical treatments in the same period of 2019.
“There are still uncertainties about the Covid-19 pandemic, but we have confidence and will do our best to overcome difficulties. We will continue to provide customers with high-quality services, as well as bring long-term value to our shareholders and investors,” Zhou added.
Going forward, AIH said it expects that revenue will gradually recover in the first quarter of 2021 but didn’t offer specific guidance.