Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenues of $349.1 million, a decrease of 2.3% from $359.3 million in 2023[10] - Gross profit for 2024 was $216.7 million, resulting in a gross margin of 62.1%, up from 61.1% in 2023[10] - The company achieved a net profit of $28.8 million for 2024, with a net profit margin of 8.2%, down from 9.2% in the previous year[10] - In 2024, the total revenue for the company reached $349.1 million, a decrease of 2.8% compared to 2023, primarily due to challenging economic conditions in North America and Latin America[32] - Gross profit decreased from $219.5 million in 2023 to $216.7 million in 2024, with a gross margin improvement to 62.1%, up from 61.1% in the previous year[33] - Net profit for the period was $28.8 million, a decrease of 12.6%, resulting in a net profit margin decline from 9.2% to 8.2%[33] - Adjusted net profit decreased by 22.3% from $36.9 million in 2023 to $28.7 million in 2024, with an adjusted net profit margin of 8.2%[80] Assets and Liabilities - Total assets increased to $627.3 million in 2024, compared to $613.5 million in 2023, while total liabilities slightly decreased to $142.5 million[11] - As of December 31, 2024, cash and cash equivalents exceeded total debt, indicating no leverage ratio was presented[82] - Total interest-bearing bank and other borrowings amounted to $4.8 million as of December 31, 2024, compared to $4.4 million in 2023[85] Revenue by Region - The Asia-Pacific region generated $116.2 million in revenue, reflecting a 6.0% increase year-over-year, while Europe and the Middle East & Africa reported revenues of $50.5 million and $34.6 million, growing 0.7% and 27.1% respectively[20] - North America revenue fell by 12.4% to $137.4 million, primarily due to the impact of high interest rates on financing costs for customers[69] - Asia-Pacific revenue increased by 6.0% to $116.2 million, driven by the successful implementation of the "Go-Direct" strategy and expansion of operations in Thailand, China, and Japan[69] Product Development and Innovation - The company received approval for its injectable botulinum toxin product DAXXIFY® in China, expected to launch in 2025, enhancing its growth potential[15] - The company is focusing on integrating AI technologies into its offerings, launching the Alma IQ™ skin analysis solution to provide comprehensive beauty health solutions[15] - The company launched three new products, including Alma Harmony™, Soprano Titanium™ special edition, and Alma IQ™, which received strong market recognition[41] - The company successfully launched Profhilo® in Thailand, showcasing its ability to integrate injection fillers with energy-based devices for combined treatment solutions[27] - The new generation hyaluronic acid complex Profhilo® received approval from the Hainan Provincial Drug Administration in April 2024, crucial for its commercialization in mainland China[43] Sales and Distribution - Direct sales accounted for 87% of total revenue, while distribution contributed 13%, demonstrating the effectiveness of the company's strategy in a challenging macro environment[22] - The gross profit from direct sales accounted for 87% of total revenue, compared to 78% in the same period last year[33] - The company achieved a nearly 20% growth in direct sales offices outside North America, balancing revenue performance amid regional challenges[32] Strategic Initiatives - The company aims to enhance its core business profitability and accelerate the commercialization of key products in 2024[17] - The company is pursuing a localization strategy to better meet local market demands through integrated production, research, and sales[16] - The company is strategically investing in expanding its ecosystem through diversified business lines and consumer brands[38] - The company is pursuing mergers and acquisitions to enhance its R&D capabilities and product portfolio[60] Corporate Governance - The board consists of a balanced mix of executive and non-executive directors, ensuring strong independence and effective decision-making[175] - The company’s board is collectively responsible for overseeing the business and ensuring effective internal controls and risk management systems[185] - The board has the authority to make decisions on significant matters, including policies, strategies, and major transactions[186] - The company emphasizes compliance with regulatory requirements and has allocated resources to ensure ongoing adherence to relevant rules and regulations[162] Employee and Workforce - Employee headcount decreased by 5.9%, resulting in a reduction of 64 employees, totaling 1,015 employees as of December 31, 2024[109] - Research and development activities were conducted by 84 employees, accounting for 23.6% of the total workforce[110] - The company has a robust employee training program to enhance understanding of market and industry developments, ensuring a competitive work environment[166] Environmental and Social Responsibility - The company is committed to environmental sustainability and has implemented measures to improve manufacturing and development environmental performance, including reducing carbon emissions[163] Financial Management - Cash flow from operating activities, investing activities, and financing activities was utilized for operational needs, interest payments, and capital expenditures[88] - Net cash flow from operating activities for the reporting period was $33.1 million, a decrease of 24.7% compared to the previous year[91] - Capital expenditures for the reporting period amounted to $2.7 million, primarily for the renovation of leased properties[94] Shareholder Information - Major shareholders include Meizhong Huli with 127,318,640 shares (27.18%) and Nengyue with 207,186,160 shares (44.24%)[139] - The company reported a final dividend of HKD 0.126 per share for the year ended December 31, 2024[114] Compliance and Legal Matters - The company has not been involved in any significant litigation or arbitration as of December 31, 2024[165] - The company has complied with all disclosure requirements under Chapter 14A of the listing rules during the reporting period[155]

Investment Rating - The investment rating for the company is upgraded to "Buy" with a target price not specified [5]. Core Viewpoints - The company reported a revenue of 2.51 billion RMB for 2024, a decrease of 2.8% year-on-year, and a net profit of 181 million RMB, down 12.6% year-on-year [1]. - Direct sales strategy has improved profitability, with direct sales accounting for 87% of total sales in 2024, an increase of 9 percentage points year-on-year [2]. - The company has received EU medical device certification, enhancing its brand advantage and allowing the launch of three core products in new markets [3]. - The product range is expanding to include various beauty and health applications, with new products launched in multiple regions [4]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 2.51 billion RMB, a decline of 2.8% compared to the previous year, and a net profit of 181 million RMB, down 12.6% [1]. Sales Strategy - The direct sales strategy has been effective, with 87% of sales coming from direct channels, reflecting a 9 percentage point increase from the previous year. Revenue from the Asia-Pacific, Europe, Middle East, and Africa regions grew by 6.0%, 0.7%, and 27.1% respectively, while North America saw a decline of 12.4% due to high financing costs [2]. Product Development - The company has focused on energy source technology for medical aesthetics, achieving EU medical device certification for several products. Three new core products were launched in 2024, receiving high market recognition [3]. Product Range Expansion - The company is diversifying its product offerings, including a new generation of hyaluronic acid complex and exclusive distribution rights for various injection fillers. The expansion includes markets in the UK, Germany, Australia, and New Zealand [4].

Investment Rating - The report upgrades the investment rating to "Buy" with a target price not specified [5] Core Viewpoints - The company reported a revenue of 2.51 billion RMB for 2024, a decrease of 2.8% year-on-year, and a net profit of 181 million RMB, down 12.6% year-on-year [1] - Direct sales accounted for 87% of total sales in 2024, an increase of 9 percentage points year-on-year, with revenue growth in the Asia-Pacific, Europe, Middle East, and Africa regions [2] - The company has received EU medical device certification, marking a significant step towards full product line certification, and has launched three core products in new markets [3] - The company is expanding its product range in the injection filling business, including new products and exclusive distribution agreements [4] - Revenue projections for 2025-2027 are 3.03 billion, 3.56 billion, and 3.81 billion RMB respectively, with net profits of 285 million, 345 million, and 391 million RMB [5] Summary by Sections Financial Performance - 2024 revenue was 2.51 billion RMB, down 2.8% year-on-year; net profit was 181 million RMB, down 12.6% year-on-year [1] Sales Strategy - Direct sales strategy led to an 87% sales contribution in 2024, with regional revenue growth in Asia-Pacific (6.0%), Europe (0.7%), and the Middle East and Africa (27.1%), while North America saw a decline of 12.4% [2] Product Development - The company achieved EU medical device certification and launched three innovative products, including Alma Harmony™, Soprano Titanium™, and Alma IQ™, which received high market recognition [3] Market Expansion - The company is actively expanding its injection filling product line, including the launch of Profhilo® in China and Thailand, and exclusive distribution rights for Revanesse® in key markets [4] Future Projections - Expected revenues for 2025-2027 are 3.03 billion, 3.56 billion, and 3.81 billion RMB, with net profits projected at 285 million, 345 million, and 391 million RMB [5]

Financial Data and Key Metrics Changes - For the year ended December 31, 2024, the company reported revenue of $349.1 million, representing a slight decline of 2.8% compared to the previous year [18] - The gross profit margin increased by 1% year-over-year, reaching 62.1% [18] - Net profit for the period decreased by 12.6% compared to 2023, primarily due to increased operating expenses [19] - Cash and cash equivalents at the end of the period were $17.1 million, maintaining a strong financial position [19] Business Line Data and Key Metrics Changes - The Medical Aesthetics Products segment remained the largest contributor, generating $308.9 million in 2024, accounting for 88.5% of total revenue [20] - Direct revenue increased to 87% compared to 78% in 2023, emphasizing the expansion of business outside North America [18] Market Data and Key Metrics Changes - Revenue from international markets, excluding North America, totaled $211.7 million, reflecting a 4.6% increase compared to 2023 [19] - The rapid expansion of direct operations has allowed the company to navigate economic challenges, particularly in North America and Latin America [14] Company Strategy and Development Direction - The company is focused on building a comprehensive wellness ecosystem through product diversification and market expansion [5] - Key strategic pillars include establishing a portfolio of energy-based devices (EBD), expanding injectables, and enhancing global presence [9][10] - The company plans to introduce new AI-based personalized skincare solutions and continue scaling its global presence [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about market conditions stabilizing, particularly with recent interest rate adjustments [15] - The company anticipates growth drivers from the commercialization of injectables and the launch of new products like ALMA Harmony and ALMA IQ [16] - Management emphasized the importance of brand equity and engagement, noting successful partnerships that have elevated brand recognition [15] Other Important Information - The company has successfully launched several new products, including ALMA Harmony and Soprano Titanium, which have seen strong market adoption [10][11] - The partnership with global icon Kate Hudson has significantly increased brand recognition, reaching over 300 million consumers worldwide [15] Q&A Session Summary Question: Why did revenue in North America decrease and what will be done in North America? - Management explained that high interest rates have made it difficult for doctors to get leasing approved, impacting revenue. However, recent interest rate decreases are expected to improve deal closures [24][26][27] Question: Expectations for sales of Daxify in 2025 and the structure of the injectable team in China? - Management indicated that preparations for Daxify in China are underway, with a senior clinical marketing team being established to support operations [30][32] Question: Explanation of profit margin stability and the impact of the JUSTAR investment? - Management clarified that the JUSTAR investment provided a one-time income of approximately $3.4 million, and profitability remains stable despite increased operating expenses [38][40] Question: Outlook for the global EBITDA market and growth expectations? - Management believes the aesthetic segment has strong growth potential, with injectables showing the most promise. EBD is expected to grow at 6-8% globally [43][44] Question: Headwinds in Europe and outlook for 2025? - Management noted geopolitical tensions affecting Europe and highlighted a new contract with an injectable company that will enhance their market position [48][50] Question: Revenue contribution from long-acting products and commercial plans? - Management stated that revenue from RIVENESS was minimal in 2024 as the team was only established late in the year, but they are building a team in Australia for future growth [54][56] Question: Revenue and earnings outlook for the next two to three years? - Management refrained from providing specific forecasts but emphasized the importance of technology and brand trust in driving future growth [62][66] Question: Market share movements in key markets like the U.S. and China? - Management indicated that the company is gaining market share in North America and remains a leader in China despite local competition [69][70]

EF001 免責聲明 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 SISRAM MEDICAL LTD 復銳醫療科技有限公司* | | | 股份代號 | 01696 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二四年十二月三十一日止年度的末期股息 | | | 公告日期 | 2025年3月19日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2024年12月31日 | | 宣派股息的報告期末 | 2024年12月31日 | | 宣派股息 | 每 股 0.126 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.126 HKD | | ...

Financial Performance - For the fiscal year ending December 31, 2024, revenue was $349.1 million, a decrease of 2.8% compared to the previous year[4] - Net profit for the year was $28.8 million, down 12.6% year-on-year[4] - Total revenue for the year ending December 31, 2024, was $349,112 thousand, a decrease of 2% from $359,292 thousand in 2023[18] - Revenue from North America decreased by 12% to $137,398 thousand in 2024 from $156,891 thousand in 2023[18] - Gross profit decreased from $219.5 million in 2023 to $216.7 million in 2024, a reduction of approximately $2.8 million, while gross margin improved to 62.1%, up from 61.1% in 2023[50] - The group reported a pre-tax profit of $32,541,000 for 2024, down from $37,130,000 in 2023, reflecting a decline of approximately 12.5%[34] - Adjusted net profit decreased by 22.3% from $36.9 million in 2023 to $28.7 million in 2024, with adjusted net profit margin dropping from 10.3% to 8.2%[100] Revenue Breakdown - Direct sales accounted for 87% of total revenue, up from 78% in the previous year[4] - Revenue from the Asia-Pacific, Europe, Middle East, and Africa regions was $116.2 million, $50.5 million, and $34.6 million respectively, representing increases of 6.0%, 0.7%, and 27.1% year-on-year[4] - North America revenue decreased by 12.4% year-on-year due to the ongoing impact of a high-interest environment[4] - The Asia-Pacific region saw a revenue increase of 6.0%, contributing 33.3% to total revenue in 2024[83] - Europe revenue rose by 0.7% from $50.2 million in 2023 to $50.5 million in 2024, mainly due to the successful "Go-Direct" strategy in the UK[86] - Middle East and Africa revenue surged by 27.1% from $27.2 million in 2023 to $34.6 million in 2024, supported by the launch of Soprano Titanium™ and strong performance of the Alma Harmony™ product line[86] - Latin America revenue decreased by 32.3% from $15.3 million in 2023 to $10.4 million in 2024, impacted by political instability in key regions[86] Expenses and Costs - Research and development expenses were $15.9 million, down from $18.0 million in the previous year[5] - The group's cost of goods sold decreased to $100,529,000 in 2024 from $103,947,000 in 2023, reflecting a reduction of about 4%[27] - Total sales and distribution expenses increased by 4.9% from $125.3 million in 2023 to $131.5 million in 2024, mainly due to expenses related to new direct sales office operations[90] - Financing costs totaled $2,455,000 in 2024, slightly up from $2,445,000 in 2023, showing a marginal increase of about 0.4%[29] Dividends and Shareholder Returns - The board declared a final dividend of HKD 0.126 per share (tax included) for the fiscal year ending December 31, 2024[3] - The company declared a final dividend of HKD 0.126 per share for the year ending December 31, 2024, down from HKD 0.158 in 2023, indicating a decrease of approximately 20%[35] Assets and Liabilities - Total assets amounted to $627.3 million, with total liabilities of $142.5 million as of December 31, 2024[8] - Non-current assets increased to $365,666 thousand in 2024 from $345,671 thousand in 2023, representing a growth of 5.5%[19] - Trade receivables increased to $111,139,000 in 2024 from $98,711,000 in 2023, representing a growth of about 12.5%[40] - The net value of trade receivables after impairment was $107,312,000 in 2024, compared to $96,365,000 in 2023, marking an increase of about 11.4%[40] Strategic Initiatives - The company launched three new products in new regions, including the Alma Harmony™, which has seen strong market demand and is one of the most successful product launches in the company's history[56] - The company established a strategic partnership with Prollenium to distribute the Revanesse® dermal filler series in key markets including Germany, Austria, Switzerland, Australia, and New Zealand[48] - The company aims to maintain sufficient cash levels to support business growth and strategic investments in core technology development and clinical research[56] - The company is transitioning its business model from product-driven to clinic-centered, focusing on high-value advanced product categories[62] - The company plans to commercialize DAXXIFY® in mainland China and expand the launch of injection filler products in new regions[74] Research and Development - Research and development expenditure amounted to $15.9 million during the reporting period[56] - The company conducted four additional clinical studies and published 20 clinical papers during the reporting period, showcasing its commitment to clinical research[59] - Research and development expenses decreased from $18.0 million in 2023 to $15.9 million in 2024, attributed to successful regulatory certification and improved labor productivity[92] Market Performance - Global sales and distribution network achieved total revenue of $349.1 million in 2024, a decrease of 2.8% compared to 2023, primarily due to challenging economic conditions in North America and Latin America[50] - The injection filler business generated $9.8 million in revenue, a decrease of 2.6% compared to the previous year, due to a focus on developing new generation products[82] Governance and Compliance - The audit committee has reviewed the group's annual performance and the financial statements prepared in accordance with international financial reporting standards for the year ending December 31, 2024[136] - The company has complied with all applicable principles and code provisions of the Corporate Governance Code during the reporting period[133]

Sisram Medical Ltd 復䢇醫療科技有限公司* 非執行董事 吳以芳先生 馮蓉麗女士 獨立非執行董事 （ 於 以 色 列 註 冊 成 立 的 有 限 公 司 ） （股份代號：1696） 董事名單與其角色及職能 復銳醫療科技有限公司董事會（「董事會」）成員載列如下（自二零二五年三月十九日 起生效）： 執行董事 劉毅先生 （主席） Lior Moshe DAYAN先生 （首席執行官） 李家宏先生 （首席財務官） 方香生先生 陳志峰先生 陳怡芳女士 廖啟宇先生 相關董事委員會成員載列如下（自二零二五年三月十九日起）： C 委員會主席 M 委員會成員 香港，二零二五年三月十九日 * 僅供識別 | 董事 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | | 劉毅先生 | | M | C | | DAYAN先生 Lior Moshe | | | | | 李家宏先生 | | | | | 吳以芳先生 | | | | | 馮蓉麗女士 | | | | | 方香生先生 | C | M | M | | 陳志峰先生 | M | C | M | | 陳怡芳女士 | M | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Sisram Medical Ltd 復䢇醫療科技有限公司* – 1 – 李先生已根據本公司組織章程細則與本公司訂立委任書，任期自二零二五年三月 十九日開始，將繼續有效直至任何一方向另一方發出三個月事先書面通知予以終 止，並須遵守本公司組織章程細則項下的董事退任及輪換條文。根據本公司組織 章程細則，李先生將擔任本公司執行董事直至本公司舉行下屆股東週年大會為 止，然後於大會上競選連任。李先生將不會就擔任本公司執行董事而向本公司收 取任何薪酬。 （ 於 以 色 列 註 冊 成 立 的 有 限 公 司 ） （股份代號：1696） 委任董事 復銳醫療科技有限公司*（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事 會」）宣佈，自二零二五年三月十九日起，李家宏先生（「李先生」）已獲委任為本公 司執行董事。 李先生，46歲，於二零二四年十月二十九日加入本集團，擔任本公司首席財務 官。彼負責本集團財務營運、融 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Sisram Medical Ltd 復䢇醫療科技有限公司* （ 於 以 色 列 註 冊 成 立 的 有 限 公 司 ） （股份代號：1696） 香港，二零二五年三月七日 Sisram Medical Ltd 復銳醫療科技有限公司* 主席 劉毅 董事會會議召開日期 復銳醫療科技有限公司*（「本公司」及其附屬公司「本集團」）董事會（「董事會」）兹通 告謹定於二零二五年三月十九日（星期三）舉行本公司董事會會議，以考慮及通過 本集團截至二零二四年十二月三十一日止年度的全年業績，及建議之末期股息（如 有），以及處理其他事項。 代表董事會 於本公告日期，本公司董事會成員包括執行董事劉毅先生及Lior Moshe DAYAN 先生；非執行董事吳以芳先生及馮蓉麗女士；獨立非執行董事方香生先生、陳志 峰先生、陳怡芳女士及廖啟宇先生。 * 僅供識別 ...

Investment Rating - The report assigns a "Buy" rating for Sisram Medical (复锐医疗科技) as a first-time coverage [6][7]. Core Views - Sisram Medical is positioned as a global leader in energy source devices, expanding its presence in the beauty and health ecosystem. The company has diversified its business into injection fillers, personal care, and digital dentistry, leveraging its strong R&D capabilities and market presence [6][18]. - The Chinese medical aesthetics market is experiencing stable growth, with the light medical aesthetics segment showing promising prospects. The company is well-positioned to capitalize on this trend through its established product lines and market strategies [6][45]. Financial Data and Profit Forecast - Total revenue projections for Sisram Medical are as follows: - 2023: $359.29 million (YoY +1.36%) - 2024E: $368.57 million (YoY +2.58%) - 2025E: $429.16 million (YoY +16.44%) - 2026E: $494.15 million (YoY +15.15%) [5][6] - Net profit forecasts are: - 2023: $31.50 million (YoY -21.59%) - 2024E: $30.07 million (YoY -4.53%) - 2025E: $39.09 million (YoY +29.99%) - 2026E: $47.16 million (YoY +20.64%) [5][6] - Earnings per share (EPS) estimates are: - 2023: $0.07 - 2024E: $0.06 - 2025E: $0.08 - 2026E: $0.10 [5][6] Business Expansion and Market Position - Sisram Medical has a solid foundation in energy source devices and a promising outlook for injection fillers. The company is expanding its business into digital dentistry and personal care, aiming to create a comprehensive beauty and health ecosystem [6][18]. - The company has established a strong direct sales network, with 78% of its revenue coming from direct sales in 2023, and is actively expanding its global reach [6][24]. Market Trends and Growth Potential - The light medical aesthetics market in China is projected to grow significantly, with a CAGR of 12.8% expected from 2024 to 2030. The non-surgical segment is anticipated to account for 65% of the market by 2030 [46]. - The energy source device market is expected to maintain rapid growth, driven by consumer demand for non-invasive procedures such as photorejuvenation and hair removal [6][45].