Aesthetic Medical receives delisting decision from Nasdaq hearings panel

Aesthetic Medical announced that it has received a determination letter of the Hearings Panel of The Nasdaq Capital Market dated May 17, 2024, notifying the Company that the Panel determined to delist the Company’s securities from Nasdaq, due to the failure to satisfy the continued listing conditions as previously disclosed. As a result, the Company expects that its securities will be suspended from trading at the open of business on May 21, 2024 and delisted from Nasdaq after the completion of Nasdaq’s filing of a Form 25 Notification of Delisting with the SEC after all appeal periods have expired. The Company does not intend to file an appeal of the determination. Following the delisting, the Company expects that its American Depositary Shares will be quoted on the “over the counter” market operated by OTC Markets Group so that a trading market may continue to exist for its ADSs. There is no guarantee, however, that a broker will continue to make a market in the ADSs and that trading of the ADSs will continue on an OTC market or otherwise. The delisting from Nasdaq will have no significant impact on the Company’s operations in the aesthetic medical industry in mainland China. The Company is committed to enhancing operational management and efficiency and aims to drive performance growth.