GlobeNewswire Inc | May 17, 2021 09:50AM EDT

May 17, 2021

SHENZHEN, China, May 17, 2021 (GLOBE NEWSWIRE) -- Aesthetic Medical International Holdings Group Limited (the Company or Nasdaq: AIH), a leading provider of aesthetic medical services in China, today announced that it has entered into a definitive share subscription agreement with Lafang China Co., Ltd (Lafang) to raise US$15.1 million through a private placement sale of 5,329,410 ordinary shares of the Company to Lafang at a sale price of US$8.50 every three ordinary shares (equivalent to US$8.50 per American Depositary Share of the Company). The private placement is subject to customary closing conditions and is expected to close within four months from the execution of the agreement. The Company intends to utilize the proceeds from this private placement to fund its business development and working capital.

The ordinary shares to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the Securities Act), or any state or other applicable jurisdictions securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state or other jurisdictions securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the ordinary shares, nor shall there be any sale of ordinary shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Aesthetic Medical International Holdings Group Limited

AIH, known as Pengai in China, is a leading provider of aesthetic medical services in China. AIH operates through treatment centers that spread across major cities in mainland China, and also has presence in Hong Kong and Singapore. Leveraging over 20 years of clinical experience, AIH provides one-stop aesthetic service offerings, including surgical aesthetic treatments, non-surgical aesthetic treatments, general medical services and other aesthetic services. According to a certain third party industry consultant, AIH was the third-largest private aesthetic medical services provider in China in terms of revenue in 2018. For more information regarding the Company, please visit: https://ir.aihgroup.net/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as will, expects, anticipates, aims, future, intends, plans, believes, estimates, likely to and similar statements. Statements that are not historical facts, including statements about the Companys beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These risks and uncertainties and others that relate to the Companys business, financial condition and industry are detailed from time to time in the Companys SEC filings, and could cause the actual results to differ materially from those contained in any forward-looking statements. These forward-looking statements are made only as of the date indicated, and the Company undertakes no obligation to update or revise the information contained in any forward-looking statements, except as required under applicable law.

Investor Relations Contact

For investor and media inquiries, please contact:

Aesthetic Medical International Holdings Group LimitedEmail: ir@pengai.com.cn

DLK Advisory Limited Tel: +852 2857 7101Fax: +852 2857 7103