Y MODERN HE HealthCare · Technology G LO O N H RE TEC A C ALTH 2021/22 INTERIM REPORT 中期報告 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號： 919 | --- | --- | |-------|---------------------------------------------| | | 目錄 | | | | | | 管理層討論及分析 | | | • 業務回顧 財務回顧 | | | • 企業社會責任 | | | • 展望 | | | • | | | • 後續事件 | | | 公司資料 | | | 企業管治及其他資料 | | | 審閱報告 | | | 綜合損益表 | | | | | | 綜合損益及其他全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 簡明綜合現金流量表 未經審核中期財務報告附註 | 2 2 3 6 7 7 8 9 14 15 16 1 ...

Company Overview - The company rebranded from "Modern Beauty Holdings Limited" to "Modern Healthcare Technology Holdings Limited" in June 2020[12]. - The company has been awarded the "Green Office Award" by the World Green Organization for four consecutive years[12]. - As of March 31, 2021, the company operates 30 service centers in Hong Kong, 3 in mainland China, and 10 in Singapore[9]. - The retail network operated under the "be Beauty Shop" brand consists of 8 stores[9]. - The company offers a range of services including beauty and facial care, aesthetic shaping services, and sales of skincare and wellness products[6]. - The company emphasizes the use of natural materials in its products and services, targeting the high-end beauty market[6]. - The company aims to expand its product sales business through a diverse range of high-quality skincare products[9]. - The company closely monitors industry trends and invests in advanced beauty equipment to stay competitive[9]. - The company provides a variety of weight control programs designed to stimulate metabolism and promote healthy dietary choices[9]. - The company has a strong focus on enhancing customer experience through luxurious spa treatments and personalized care[9]. Financial Performance - For the fiscal year ending March 31, 2021, the company's revenue was approximately HKD 431.5 million, a decrease of 17.4% compared to HKD 522.6 million for the previous fiscal year[16]. - The operating profit for the fiscal year was HKD 134 million, a significant improvement from an operating loss of HKD 17.3 million in the previous year, resulting in an operating margin of 31.1%[16]. - The total number of stores decreased from 55 to 51, reflecting a reduction of 4 stores year-over-year[18]. - Employee benefit expenses decreased by 42.0% to HKD 180.8 million, while rental costs dropped by 98.6% to HKD 0.6 million[18]. - The total customer count in Hong Kong increased slightly to approximately 426,000, up 0.5% from 424,000 in the previous year[20]. - Revenue from prepaid beauty packages was HKD 292.2 million, down 41.1% from HKD 496.3 million in the previous fiscal year[26]. - In mainland China, service revenue increased by 12.5% to HKD 12.5 million, and revenue from prepaid beauty packages rose by 24.7% to HKD 13.4 million[22]. - In Singapore, revenue decreased to HKD 45.9 million from HKD 57.6 million, with service revenue and prepaid package sales both declining[25]. - The net profit attributable to equity shareholders for the fiscal year 2021 was approximately HKD 125.7 million, a turnaround from a net loss of HKD 31.6 million in the previous year[36]. - The group maintained a strong financial position with cash and bank balances of approximately HKD 234.3 million, up from HKD 180 million in the previous year, with no bank borrowings[38]. Operational Efficiency - The company plans to continue enhancing operational efficiency and customer satisfaction while ensuring the safety and quality of services and products offered[21]. - The group operated 33 service centers in mainland China and Hong Kong, with a weighted average total floor area of 186,000 square feet, down 11.0% from the previous year[32]. - The group plans to continue reducing rental expenses and explore new rental models to optimize workflows and adapt to upcoming economic recovery[43]. - The group aims to expand its employment agency services, which have the potential to become a new growth driver in the future[43]. - The company has implemented various environmental measures in its operations, including promoting a "paperless office" and advancing electronic information management systems[44]. Corporate Governance - The company emphasizes the importance of transparency and accountability to enhance business understanding among investors and the public[47]. - The investor relations team organized various activities, including the annual general meeting, to improve communication with investors and ensure they receive the latest information about the company's developments[47]. - The company is committed to maintaining high levels of investor relations and continuously improving its investor relations system[46]. - The company recognizes the value of investor feedback in shaping its development strategy to enhance shareholder value[47]. - The company has a dedicated investor relations team responsible for establishing communication bridges with investors[47]. - The company emphasizes strong corporate governance principles to enhance shareholder value, focusing on transparency, accountability, and independence[53]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced composition for effective oversight[53]. - The board held nine meetings during the review year, facilitating communication between the board and senior management[53]. - Independent non-executive directors provide diverse industry expertise, ensuring compliance with financial reporting standards and protecting shareholder interests[55]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange rules, ensuring adherence to best practices[53]. Risk Management - The company has adopted an enterprise risk management framework to identify, assess, and manage significant risks[72]. - The board has reviewed the effectiveness of the risk management and internal control systems, deeming them effective and adequate[70]. - The internal audit department has conducted at least one review of the risk management and internal control systems during the reporting year[70]. - The company’s internal control and risk management systems have been maintained appropriately throughout the reporting year[72]. - The group recognizes the impact of macroeconomic changes on its business, including risks related to consumer credit and regulatory changes in Hong Kong[44]. Revenue Recognition - Revenue is recognized when control of goods or services is transferred to customers, excluding VAT or other sales taxes[180]. - Revenue from the sale of skincare and wellness products is recognized upon delivery to customers[181]. - Revenue from prepaid beauty and wellness service packages is recognized when services are provided, with unused rights accounted for as deferred revenue[183]. - Rental income from operating leases is recognized evenly over the lease term, unless another basis better reflects the benefits derived from the leased asset[185]. - Interest income is recognized using the effective interest method, with no credit impairment for financial assets measured at amortized cost or fair value through other comprehensive income[186]. Audit and Compliance - The independent auditor, KPMG, audited the financial statements for the fiscal year 2021[91]. - The audit committee plays a crucial role in overseeing the financial reporting process and ensuring the integrity of the financial statements[110]. - The auditor's report indicates that reasonable assurance was obtained regarding the absence of material misstatements in the financial statements[110]. - The audit process involved identifying and assessing risks of material misstatement due to fraud or error, and designing appropriate audit procedures[111]. - The independent auditor's report was issued on June 28, 2021, confirming compliance with relevant professional ethical requirements[117].

HEALTHCARE TECHNOLOGY .Technology HealthCa (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立的有限公司 ) Stock Code 股份代號：919 2020/21 INTERIM REPORT 中期報告 目錄 管理層討論及分析 2 • 業務回顧 2 • 財務回顧 3 • 企業社會責任 5 • 展望 6 • 後續事件 6 公司資料 7 企業管治及其他資料 8 審閱報告 12 綜合損益表 13 綜合損益及其他全面收益表 14 綜合財務狀況表 15 綜合權益變動表 17 簡明綜合現金流量表 18 未經審核中期財務報告附註 19 OH HN 業務回顧 香港 由於持續中美貿易戰及COVID-19疫情問題存在，香港特別行 政區零售行業自二零一九年年中後錄得的銷售額降幅明顯。 根據統計處發佈的統計數據，於二零二零年度首九個月，香 港零售銷售額較二零一九年同期猛跌30%。因此，我們於香 港的美容、纖體及保健服務業務無可避免地受到影響。儘管 如此，透過不斷提升客戶體驗及改善絕佳服務管理，以促使 ...

Business Expansion and Services - The company opened new stores in various locations, including a new beauty center in Sheung Shui Plaza and a new Be Beauty Shop in Lai Chi Kok in May 2019[17]. - As of March 31, 2020, the company operated 32 service centers in Hong Kong, 3 in mainland China, and 10 in Singapore, reflecting its market expansion strategy[14]. - The company aims to expand its product sales through partnerships with various skincare brands, including Malu Wilz and BeYu, to reach a broader customer base[14]. - The company has launched a series of weight control courses designed to stimulate metabolism and promote healthy eating choices among customers[14]. - The company continues to innovate in its service offerings, including aesthetic shaping services and advanced spa treatments, to meet evolving customer demands[14]. Financial Performance - The company's revenue for the fiscal year ending March 31, 2020, was approximately HKD 522.6 million, a decrease of 9.3% compared to HKD 576.0 million for the previous fiscal year[23]. - The operating loss for the fiscal year was HKD 17.3 million, compared to an operating loss of HKD 2.2 million in the previous fiscal year, resulting in an operating loss margin of -3.3%[24]. - Revenue from beauty and facial care services was HKD 372.1 million, accounting for 71.2% of total revenue, a decrease of 18.0% from the previous fiscal year[31]. - Revenue from body slimming services increased by 46.5% to HKD 94.5 million, representing 18.1% of total revenue[31]. - The net loss attributable to equity shareholders for the fiscal year 2020 was approximately HKD 31.6 million, compared to HKD 13.3 million in 2019[40]. Cost Management - Employee benefits expenses decreased by 2.3% to HKD 311.7 million, while rental costs and depreciation of leased properties decreased by 61.7% to HKD 43.8 million[24]. - Rental costs and depreciation for leased properties amounted to approximately HKD 92.2 million, representing 17.7% of revenue, down from 19.9% in 2019[36]. - The company aims to reduce rental costs to a more reasonable level through negotiations with landlords due to the uncertain global and local business environment[47]. Corporate Governance - The company emphasizes the importance of timely and transparent communication with investors to ensure they understand the company's current and future developments[51]. - The company is committed to enhancing business transparency and accountability through continuous and sincere communication with investors and the public[52]. - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced composition for effective oversight[60]. - The company has adhered to the corporate governance code since April 2012, with no significant non-compliance issues reported during the review period[60]. - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[66]. Risk Management and Compliance - The company has implemented policies to review compliance with statutory and regulatory requirements[70]. - The audit committee is responsible for overseeing the adequacy and effectiveness of risk management and internal control systems[81]. - The company recognizes the impact of COVID-19 on retail and service industries in Hong Kong and Singapore, leading to temporary store closures during specified periods[47]. - The group faces significant pressure from competition, both from large and small regional competitors, impacting pricing and service aspects[48]. Shareholder Information - The company did not recommend any dividend distribution for the fiscal year 2020, consistent with the previous year[41]. - The company has maintained a sufficient public float of at least 25% of its issued shares as of the report date[106]. - The company confirmed compliance with the disclosure requirements under Chapter 14A of the Listing Rules[105]. Internal Controls and Auditing - The audit committee held two meetings during the review year to oversee financial reporting, risk management, and internal controls[77]. - The company has established an internal audit department that reviews risk management and internal control systems at least once a year[80]. - The group’s financial reporting process is overseen by the audit committee to ensure compliance with accounting standards[130]. Asset Management - The company reported a loss of HKD 31,590,000 for the year 2020 compared to a loss of HKD 13,289,000 in 2019, indicating a worsening financial performance[151]. - Non-current assets increased to HKD 174,834,000 in 2020 from HKD 123,238,000 in 2019, representing a significant increase of approximately 42%[144]. - The company's net asset value decreased to HKD 152,110,000 in 2020 from HKD 186,896,000 in 2019, a decline of approximately 18.6%[145]. Lease Agreements - The total rental payments under the 2020 master lease agreement are confirmed as HKD 115,200,000, HKD 7,100,000, and HKD 3,600,000 for the fiscal years ending March 31, 2021, 2022, and 2023 respectively[102]. - The company must obtain confirmation from an independent property valuer regarding the market rent for the new leases before entering into agreements[102]. - The company adopted HKFRS 16 on April 1, 2019, resulting in a capitalization of operating leases, with a total lease liability recognized at HKD 89,429,000[167].

Revenue Performance - The group's revenue for the six months ended September 30, 2019, increased by 1.3% to HKD 289,221,000 compared to the same period last year[9]. - Service revenue in Hong Kong was HKD 239,779,000, an increase of 3.6% year-on-year, while revenue from prepaid beauty packages was HKD 239,810,000, up 1.4%[5]. - In mainland China, service revenue decreased by 31.6% to HKD 6,031,000, and revenue from prepaid beauty packages fell by 24.1% to HKD 5,418,000[6]. - The Singapore operations generated revenue of HKD 27,808,000, with prepaid beauty package sales at HKD 23,182,000, down 17.5% year-on-year[7]. - The revenue from skincare and wellness product sales increased by 13.6% to HKD 18,301,000, attributed to adjustments in the product mix[11]. - The revenue from ladies' beauty and facial services increased by 10.4% to HKD 199,417,000, while men's services saw a significant decline of 78.8% to HKD 5,443,000[10]. - Revenue for the six months ended September 30, 2019, was HKD 289,221,000, a slight increase from HKD 285,606,000 in 2018, representing a growth of approximately 0.57%[40]. - Total revenue for the period reached HKD 289,221,000, compared to HKD 285,606,000 in the previous year, marking a 2.3% increase[89]. - Revenue from beauty and wellness services was HKD 270,920,000, slightly up from HKD 269,499,000 year-on-year[89]. Profitability and Financial Performance - The group reported a net profit of approximately HKD 5,474,000 for the six months ended September 30, 2019, compared to a net loss of HKD 10,555,000 in the same period last year[14]. - Basic earnings per share were HKD 0.59, a significant improvement from a loss per share of HKD 1.16 in the previous year[14]. - Operating profit for the period was HKD 7,248,000, compared to an operating loss of HKD 12,687,000 in the previous year, indicating a significant turnaround[40]. - Profit before tax was HKD 6,662,000, recovering from a loss of HKD 12,472,000 in the same period last year[40]. - The total comprehensive income for the period was HKD 4,769,000, compared to a loss of HKD 8,862,000 in the previous year, showing a positive shift[44]. - The company reported a profit of HKD 5,317,000 for the six months ended September 30, 2019, compared to a loss for the same period in the previous year[55]. - Reported profit for the period was HKD 16,412,000, a significant increase from HKD 228,000 in the previous year[86]. - The company reported a comprehensive profit of HKD 5,474,000, recovering from a loss of HKD 10,555,000 in the previous year[86]. Cost Management - Employee benefit expenses accounted for 56.8% of revenue, down from 58.1% in the previous year, reflecting cost efficiency efforts[12]. - Rental costs and depreciation of right-of-use assets were approximately HKD 46,021,000, representing 15.9% of revenue, a decrease from 21.6% the previous year[13]. - Employee benefits expenses, including director remuneration, totaled HKD 164,344,000, a decrease of 1.0% from HKD 165,974,000 in the previous year[14]. - Advertising expenses increased to HKD 3,001,000, representing 1.0% of total revenue, up from 0.6% in the previous year[14]. - The total remuneration for key management personnel was HKD 6,196,000, slightly down from HKD 6,200,000 in the previous year[116]. Shareholder Structure and Governance - The company reported a total equity of 677,247,942 shares, representing approximately 74.88% of the issued share capital as of September 30, 2019[20]. - The company has a significant shareholder structure, with major stakeholders including Dr. Zeng Yu holding 677,247,942 shares and Dr. Li Shouyi holding 650,000 shares, both representing 74.88% and 0.07% of the total issued shares respectively[26]. - The company has established a trust managed by TMF (Cayman) Ltd., which holds shares on behalf of Dr. Zeng Yu, further consolidating his control over the company[24]. - The company has a diversified shareholder base, with other significant holdings including Allied Wealth Limited with 209,247,942 shares (23.13%) and Silver Compass Holdings Corp. with 367,200,000 shares (40.60%)[28]. - The company’s governance structure ensures that no single individual holds concentrated power, promoting a balanced decision-making process within the board[29]. - The company’s independent non-executive directors include Dr. Huang Wenxian and Ms. Liao Meiling, contributing to the governance and oversight of the company[20]. - The company has adopted corporate governance principles emphasizing transparency, accountability, and independence to enhance shareholder value[31]. - The chairman and CEO roles are held by the same individual, which deviates from the governance code, but the board believes decisions are made collectively[31]. Financial Position and Assets - Total assets as of September 30, 2019, amounted to HKD 462,029,000, a slight increase from HKD 456,259,000 as of March 31, 2019[47]. - Non-current assets increased to HKD 193,325,000 from HKD 123,238,000, reflecting a growth of approximately 56.8%[47]. - Current liabilities decreased to HKD 432,441,000 from HKD 392,143,000, indicating a rise of about 10.3%[47]. - The company generated net cash from operating activities of HKD 43,810,000 for the six months ended September 30, 2019, compared to a cash outflow of HKD 3,095,000 in the previous year[59]. - Cash and bank balances increased to HKD 183,294,000 from HKD 182,766,000, indicating a stable liquidity position[102]. Accounting Standards and Compliance - The company adopted the revised retrospective approach for the first application of HKFRS 16 on April 1, 2019, which affected the financial statements[40]. - The new Hong Kong Financial Reporting Standard 16 (Leases) has been adopted, which introduces a single accounting model for lessees, requiring the recognition of right-of-use assets and lease liabilities for all leases, except for short-term leases and low-value assets[66]. - The group has chosen to apply the modified retrospective approach for the initial application of HKFRS 16, adjusting the opening equity balance as of April 1, 2019, without restating comparative information[68]. - The independent review report by KPMG confirms that the interim financial information has been reviewed in accordance with the relevant standards[65]. - The report includes a summary of consolidated financial statements and selected explanatory notes, which are crucial for understanding the group's financial position and performance changes since the last annual financial statements[65]. Related Party Transactions - The company has engaged in significant related party transactions, including rental agreements for office spaces and retail locations, with monthly rents mutually agreed upon[122]. - Related party A is the spouse of director Dr. Zeng, while related party B is Dr. Zeng's son, indicating potential familial ties in business dealings[123][124].

BEAUTY ANNUAL REPORT 年報 2018/19 D B BEAUTY S HOLDINGS LIMITED 現代美容控股有限公司 Stock Code 股份代號：919 致臻 III . ben pen GOLDEN CANTAR GOLDEN CANTAR GOLDEN CAVEAR bea I SON LePit.co. 50cm 1,691.62 + outes collect Ulting Soun ell #11] | B " | B 30ml 1.04%.02 目錄 公司簡介 2 公司資料 5 里程碑及重要事件 6 管理層討論及分析 10 投資者關係及財務日誌 17 董事及高級管理層簡歷 18 企業管治報告 21 董事會報告 31 獨立核數師報告 42 綜合損益表 48 綜合損益及其他全面收益表 49 綜合財務狀況表 50 綜合權益變動表 52 綜合現金流量表 53 財務報表附註 55 本集團所持物業 111 五年財務概要 112 002 現代美容控股有限公司 公司 簡介 003 2018/19 年報 公司 簡介 現代美容控股有限公司（「本公司」） 及其附屬公司（「本集團」或「現代 ...