PAIYYOTCServices-Specialty Outpatient Facilities, NECFiscal year ends December 31
Aesthetic Medical International Holdings Group Ltd
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 23, 2026
$0.01+0.00 (0.00%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2017 to 2024
Gross margin
44.7%−23.5 pts over 5 years
Net margin
-2.6%−18.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.7% | +5.4% | -2.8% | – | |
| Gross profit | +4.9% | +7.8% | -10.6% | – | |
| Free cash flow | +157.7% | +40.1% | +22.7% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 101.3% | -50.3% | |
| Return on assets | – | 15.8% | -3.8% | |
| Current ratio | – | 1.00 | – | |
| Debt to equity | – | 0.26 | 2.82 | |
| Inventory turnover | – | 11.7× | 27.4× | |
| Capex to revenue | 6.8% | 8.0% | 4.0% | |
| Diluted shares | 41M | 59M | 144M |
Where the cash went
Fiscal 2020 to 2024, five years combined
Aesthetic Medical International Holdings generated CN¥281.02M from operations and spent CN¥163.04M on capital expenditure, dividends and share buybacks. 98% of that went back into the business.
Generated
CN¥281.02M
Used
CN¥163.04M
Capital expenditureCN¥159.03M98%DividendsCN¥00%Share buybacksCN¥4.01M2%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.6%
×Asset turnover1.44×
×Equity multiplier13.19×
=Return on equity, FY2024-50.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | -2.6% | 1.44× | 13.19× | -50.3% |
| FY2023 | -5.5% | 1.23× | -17.09× | 115.6% |
| FY2022 | -11.4% | 1.19× | -4.16× | 56.4% |
| FY2021 | -90.9% | 0.80× | 6.90× | -500.9% |
| FY2020 | -26.1% | 0.86× | 2.22× | -50.2% |
| FY2019 | 15.7% | 1.01× | 6.41× | 101.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
5of 8 tests passed in fiscal 2024. Some tests lack the figures they need.
- ProfitableNet income above zero-CN¥19.95M
- Cash generatingOperating cash flow above zeroCN¥79.67M
- Return on assets improvedROA up on the prior year-6.9% → -3.6%
- Earnings backed by cashOperating cash flow above net incomeCN¥79.67M vs -CN¥19.95M
- Less leverageLong-term debt to assets fell5.6% → 2.8%
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise132M → 144M
- Gross margin improvedGross margin up on the prior year47.18% → 44.70%
- More efficientAsset turnover rose1.25 → 1.35