Aesthetic Medical International Holdings Group Limited is a leading provider of aesthetic medical services in China, offering one-stop solutions that include surgical aesthetic treatments, non-surgical aesthetic treatments, and other aesthetic services such as cosmetic dentistry and general medical services. Leveraging over 20 years of clinical experience, the company operates a network of strategically established treatment centers across major cities in mainland China, with a focus on the Guangdong-Hong Kong-Macau Greater Bay area and the Yangtze River Delta area. As of the date of the annual report, the company operates 9 wholly- or majority-owned treatment centers, including two flagship hospitals, which contribute a significant proportion of its revenue and serve as training bases for medical professionals.
The company generates revenue primarily from providing surgical and non-surgical aesthetic treatment services, which together contributed 90.5%, 90.4%, and 92.4% of total revenue in 2023, 2024, and 2025, respectively. Non-surgical aesthetic medical services, comprising minimally invasive treatments and energy-based treatments, accounted for 69.6%, 74.1%, and 74.9% of revenue in those years. Surgical aesthetic medical services contributed 21.0%, 16.3%, and 17.5% of revenue, while general healthcare services and other aesthetic medical services made up the remaining 9.4%, 9.6%, and 7.6%. Revenue is derived from a wide range of procedures including eye surgery, rhinoplasty, breast augmentation, liposuction, Botox injections, hyaluronic acid injections, thread lifts, laser treatments, ultrasound, radiofrequency treatments, and mesotherapy. The company also offers aesthetic traditional Chinese medicine treatments, hair loss services, and cosmetic dentistry as part of its service portfolio.
The company operates through the following segments:
- Surgical aesthetic medical services: This segment includes procedures such as double eyelid surgery, rhinoplasty, breast augmentation, liposuction, and facelifts, performed under local or full anesthesia in fully equipped operating rooms. These treatments are typically completed within one to three hours, with recovery times ranging from one to twelve months depending on the procedure and patient condition. The segment utilizes standardized processes to ensure quality and safety, and requires physicians with high levels of experience to perform complex surgeries.
- Non-surgical aesthetic medical services: This segment comprises energy-based treatments and minimally invasive aesthetic treatments, including laser, ultrasound, radiofrequency, mesotherapy, Botox injections, hyaluronic acid injections, and thread lifts. These procedures are typically completed within one hour, with recovery times of up to one week, and are designed to deliver immediate effects with minimal pain or swelling. The company has introduced proprietary treatment solutions such as Multi-dimensional Pigmentation Clearing, Baby Face 3.0, Skin Infusion Series, and See Sense Collagen 3+17 Type, along with products like Rejuran, CureWhite, Ellanse, and Loviselle, and advanced equipment including Alma Opus Plasma and Solta Medical Thermage FLX.
- General healthcare services and other aesthetic medical services: This segment includes internal medicine, traditional Chinese medicine, aesthetic dentistry, aesthetic traditional Chinese medicine, and hair loss treatments offered primarily through Pengcheng Hospital. Aesthetic traditional Chinese medicine treatments involve herbal oral medications, dietary advice, herbal poultices, foot baths, ultraviolet negative ion beauty treatments, ultrasounds, iontophoresis, acupuncture, cupping, massage, and gua sha. The segment also previously provided services such as otolaryngology, bromhidrosis treatment, and abortion, which have since been discontinued.
The company is a market leader in China's highly competitive and fragmented aesthetic medical services industry, competing with major privately-owned multi-site operators such as Mylike, Yestar, brands under Lancy Co., Ltd., Aist, and Evercare. Its competitive advantages stem from over two decades of clinical experience, a standardized operating procedure network, strong brand recognition, and a focus on high-quality, safe, and secure services. The company has received multiple industry awards, including the "2023 Meituan Polaris Aesthetic Medical Institution" award from Meituan and the "2023 Annual Quality, Safe and Secure Aesthetic Medical Institution" award from the Shenzhen Association of Plastics and Aesthetics, reinforcing its position as a benchmark in Shenzhen. Its proprietary treatment solutions, strategic partnerships with suppliers, and investment in advanced equipment such as Thermage radiofrequency systems and Body-Jet liposuction systems further strengthen its market position.
The company's customers are primarily female individuals residing in China, with the majority aged between 18 and 30, representing 44% of the customer base in 2025. Customers aged 31 to 40 and above 40 accounted for 36% and 19% of the customer base, respectively, in the same year. The company serves individual consumers seeking aesthetic medical treatments, with no long-term agreements in place, as treatments are transactional in nature. Customer acquisition is supported by marketing initiatives, including livestreaming on Douyin, collaboration with key opinion leaders, and integration with platforms like Xiaohongshu, targeting younger demographics with strong demand for self-care and aesthetic-related services.