Benzinga | Dec 1, 2021 08:23AM EST

Aesthetic Medical International Provides Business Update, Notes Chinese Regulators Have 'strengthened the supervision of the aesthetic medical industry'

SHENZHEN, China, Dec. 01, 2021 (GLOBE NEWSWIRE) -- Aesthetic Medical International Holdings Group Limited (NASDAQ:AIH) (the "Company" or "AIH"), a leading provider of aesthetic medical services in China, today announces business updates for November 2021.



Benefited from the Company's successful promotional events during the "Double 11 Online Shopping Festival" and the Company's 25th Anniversary Celebration promotions, the Company expected that cash sales generated from its existing hospitals and clinics in November would reach approximately RMB90 million, representing their monthly record high since the beginning of 2020. As stated in the earning release published on November 16, 2021, the Company will continue to implement its strategic restructuring plan to optimize business operations and launch satellite clinics in the Company's core regional markets.

The Company also noted that the regulators of the People's Republic of China has strengthened the supervision of the aesthetic medical industry and proposed various guidelines to ensure the healthy development of the aesthetic medical industry. Certain regulatory announcements included regulating advertisements as well as cracking down illegal manufacturing and sales of the aesthetic medical products. The Company will closely monitor the regulatory development and strive to comply with applicable regulations. The Company believes that these series of regulations would not only foster the orderly development of the industry, but also create a favorable operating environment for market players in support of such regulatory reform, such as AIH.