Market Overview - The global beauty and wellness market is currently valued at approximately $4.4 trillion and is projected to reach $7 trillion by 2025[21]. Revenue and Financial Performance - Revenue from the injection filler segment reached $4.9 million, representing a year-on-year growth of 29.6%[22]. - The company achieved revenue of $171.6 million in the first half of 2023, with a gross profit of $105.3 million, representing a 5.7% increase from $99.6 million in the same period of 2022[26]. - Revenue for the six months ended June 30, 2023, decreased to $171.6 million from $174.5 million in the same period of 2022, a decline of 1.7%[59]. - Revenue from the medical aesthetics product line accounted for 85.9% of total revenue, with sales of $147.4 million, down 4.2% from $153.8 million in the same period of 2022[60]. - Customer contract revenue for the first half of 2023 was $171.621 million, a decrease of 1.6% compared to $174.504 million in the same period of 2022[132]. - Revenue from product sales was $157.587 million, down from $164.883 million year-over-year, while service revenue increased to $14.034 million from $9.621 million[132]. - Revenue from the injection filling business line was $4.9 million, an increase of 29.6% compared to the same period in 2022[90]. - North America revenue increased by 13.7% from $69.9 million in the same period of 2022 to $79.5 million, driven by strong performance of Alma Ted™, Soprano, and Harmony equipment platforms[92]. - Revenue from the Middle East and Africa decreased by 21.7% to $13.9 million, primarily due to negative currency effects and a temporary slowdown in Dubai during the transition to direct offices[63]. Profitability and Margins - Gross margin improved to 61.4%, up 4.3 percentage points from 57.1% in the same period of 2022, demonstrating the company's adaptability in an unstable global economy[26]. - Net profit for the period decreased by 8.5% to $18.8 million from $20.5 million in the same period of 2022, with net profit margins of 10.9% and 11.8% respectively[70]. - The company reported a net profit of $18.8 million, with a net profit margin of 10.9%, down from 11.8% in the same period of 2022[32]. - The effective tax rate for Alma, a subsidiary, was 16% during the reporting period due to its status as a "preferred enterprise" under the Capital Investment Encouragement Law[184]. Strategic Initiatives - The company completed the acquisition of PhotonMed, a leading energy source equipment distributor in China, enhancing its strategic presence in the key market[14]. - The company is focusing on the commercialization of the injection filler product Daxxify and the clinical progress of hyaluronic acid solutions to meet evolving market demands[11]. - The company plans to launch new products, including Alma Veil in the U.S. market in the coming months, following the recent FDA approval of Soprano Titanium[22]. - The company aims to strengthen its market penetration by establishing new direct sales channels in key markets[14]. - The company is actively optimizing its dental distribution business and advancing the strategic transformation of its beauty and digital dental business[11]. - The company aims to enhance market penetration in China through seamless integration and optimization of direct sales channels[87]. - The company is promoting a new hair growth solution based on the innovative TED™ platform and specially formulated hair care products[86]. - The company plans to expand its direct sales business and open new direct offices in strategic markets in the second half of 2023[54]. - The company has expanded its direct sales presence in new markets, including China, the UK, and the UAE, to drive growth and tailor solutions to consumer needs[188]. - The acquisition of PhotonMed, a Chinese medical equipment distributor, is aimed at enhancing local operations and strengthening the company's direct sales strategy in the Chinese market[188]. Customer Experience and Marketing - The company is committed to improving customer experience by creating a beauty and health experience center with advanced equipment and skilled teams[14]. - The company emphasizes a customer-centric approach to drive growth and enhance service quality, aiming to meet personalized consumer needs[15]. - The company is committed to enhancing brand recognition and trust among B2C audiences through influencer marketing and digital marketing initiatives[26]. - The company launched a new global website focused on personalized services and innovative customer experiences for its Alma brand[49]. Operational and Investment Activities - The company is developing a strategic inventory management plan and raw material procurement strategy for the upcoming year to address global supply chain challenges[53]. - The group’s capital expenditure was $3.3 million, mainly for the renovation of leased properties[111]. - The company raised approximately $615.47 million HKD from a placement of 24 million new shares, intended for developing injection filling business and expanding global sales channels[145]. - The company recorded a net cash outflow from investing activities of $24,227,000, compared to a net inflow of $7,946,000 in the previous year, indicating a significant shift in investment strategy[150]. - The company’s investment in subsidiaries resulted in a cash outflow of $27,262,000, reflecting ongoing strategic acquisitions[150]. Employee and Administrative Metrics - Employee count increased by 29.5% compared to December 31, 2022, attributed to the acquisition of PhotonMed International Limited and expansion of the sales team[142]. - The group's administrative expenses increased by 1.0% to $14.0 million from $13.9 million in the same period of 2022[96]. Financial Position and Assets - Total assets increased to $604.7 million, up from $555.6 million in the previous year, indicating strong financial health[39]. - Trade receivables as of June 30, 2023, totaled $103,397,000, up from $95,633,000 as of December 31, 2022, representing an increase of about 8.5%[197]. - The total book value increased from $111,183,000 on January 1, 2023, to $126,915,000 by June 30, 2023[200]. - The net book value as of June 30, 2023, was $126,915,000[200]. Tax and Financing - Tax expenses decreased by 23.4% to $1.9 million from $2.5 million in the same period of 2022, primarily due to lower tax rates for the Israeli company since January 1, 2017[99]. - Interest coverage ratio decreased to 21.1 times from 23.4 times in the same period of 2022, due to a 9.7% decline in EBIT to $21.8 million[73]. - The group confirmed an expense of $825,000 for restricted share units, compared to $1.626 million for the same period in 2022[114]. - The company’s cash flow from financing activities showed a net outflow of $4,954,000, compared to a net outflow of $3,357,000 in the previous year, indicating increased financing costs[150].

接下来有请富睿医疗科技的吴总给大家带来今天的一个录演大家掌声欢迎我是富睿医疗科技的IR我叫吴迷达 叫我邹也行我接下来跟大家分享一下我们周期的一个情况上半年的话因为八月份的时候我们也发了这个业绩报告了大家可能也有看到 然后跟大家分享一下我们的一个财务数据了收入的话我们上半年实现了1.7亿美金同比是有一定的下滑大概1.7%的样子那后面的话以后给大家具体去介绍或者去解释一下大家什么样的一个情况那北美的话实现7900万美金的收入那基本上这个增长还是在预期之内增长了13.7% 注册填充的业务呢490万美金然后同比增长了30%的样子那在今年的这个中期的报告中呢大家可能看到有点不太一样的地方就是我们网络利率增长了4.3个百分点达到了61.4%那至于这个呢也得益于后面这个数据就是我们这个直销占比提升了7.3个百分点达到了72.1% 主要也有几个业务亮点可以说上半年我们做了很多的这些业务的一些铺垫包括完成了中国直销渠道的一个分销商的收购去把中国的渠道变成了直销的一个模式另外建立了两个直销办公室可能英国这个直销办公室大家可能在去年有看到公告但它这个一次性的投入费用基本上还是集中在去年的年底和今年的年初 另外我们开发了三款新品包括 ...

Financial Performance - Revenue for the six months ended June 30, 2023, was $171.6 million, a decrease of 1.7% compared to $174.1 million for the same period in 2022[36]. - Gross profit for the same period was $105.3 million, an increase of 5.7% from $99.7 million in the prior year, resulting in a gross margin increase from 57.1% to 61.4%[36]. - Profit attributable to equity holders for the six months was $18.9 million, down 8.4% from $20.6 million in the previous year[36]. - Total revenue for the six months ended June 30, 2023, was $171,621 thousand, a decrease of 1.6% from $174,504 thousand in the same period of 2022[52]. - The net profit for the period was $18,783 thousand, down 8.5% from $20,527 thousand in the prior year[52]. - Basic earnings per share for the period was $4.04, a decrease from $4.42 in the same period last year[52]. - Adjusted net profit for the period was $20.7 million, a decrease of 17.1% compared to the same period last year, resulting in an adjusted net profit margin of 12.0%[103]. - The group achieved a pre-tax profit of $20.7 million and a net profit of $18.8 million, down 10.1% and 8.5% respectively from the previous year, mainly due to increased sales and distribution expenses[124]. Revenue Breakdown - Direct sales revenue accounted for 72.1% of total revenue, up from 64.8% in the same period last year, reflecting the company's strategy to expand global direct sales offices[36]. - Revenue for medical aesthetics was $147.4 million, accounting for 85.9% of total revenue, a decrease of 4.2% compared to $153.8 million in the previous year[166]. - Revenue from the medical aesthetics product line accounted for 85.9% of total revenue, with sales of $147.4 million, down 4.2% from $153.8 million in the previous year[194]. - Revenue from the Asia-Pacific region increased by 1.1% to $48.4 million, attributed to growth in direct sales in South Korea, Australia, and Hong Kong[198]. - European revenue decreased by 28.4% to $21.9 million, impacted by macroeconomic conditions and the transition from a distribution model to a direct sales model in the UK[199]. Expenses and Costs - Operating expenses increased to $70,177 thousand from $61,112 thousand, primarily due to higher sales and distribution expenses, which rose by 26.2% to $59,855 thousand[52]. - The cost of goods sold for the same period was $43,406,000, down from $48,342,000, reflecting a 10.3% reduction[81]. - Research and development expenses increased to $9,159,000 from $8,329,000, representing a growth of 10%[81]. - R&D expenses increased by 10% to $9.2 million, driven by the expansion of technological capabilities and investment in the personal care brand LMNT[178]. Assets and Liabilities - Non-current assets totaled $355,094,000 as of June 30, 2023, compared to $305,036,000 at the end of 2022, marking a 16.4% increase[72]. - Current assets decreased slightly to $249,645,000 from $250,565,000, a decline of 0.4%[72]. - Non-current liabilities increased, with lease liabilities rising to $34,787 thousand from $32,718 thousand[45]. - Trade receivables increased to $103.4 million as of June 30, 2023, from $95.6 million as of December 31, 2022[7]. Strategic Initiatives - The company launched two new products in new regions and prepared for the launch of a new product, LipoSense™, aimed at enhancing surgical safety[17][18]. - The company has entered into a licensing agreement for Daxxify, a new neuromodulator product, with upfront payments totaling $52.25 million and additional milestone payments[97]. - The company has successfully introduced Alma Opus, a non-invasive radiofrequency device platform, to international markets outside the United States[105]. - The company plans to launch Alma Veil™ in North America in the second half of 2023, targeting various skin conditions and vascular diseases[127]. - The company aims to strengthen its market presence in sexual health and men's health, focusing on innovative concepts to meet evolving consumer demands[145]. Market and Brand Development - The company established a new direct sales channel in Dubai, UAE, aimed at becoming a trade hub for the Middle East, starting with energy source equipment and expanding into personal care and aesthetic services[154]. - A new global brand ambassador has been engaged for a two-year collaboration to enhance brand visibility and promote solutions effectively[130]. - The company launched a new global website for its flagship energy source equipment company, Alma, emphasizing personalized services and unique customer experiences[149]. - The first Sisram Wellness Center has been initiated in downtown Chicago, facilitating daily interactions with professionals and patients to better understand their needs[151]. - The company opened its first Sisram Wellness Center in Chicago on June 9, 2023, offering advanced medical aesthetic solutions and integrating trusted brands like Alma®[156].

Financial Performance - Total revenue for 2022 reached $354.5 million, an increase of 20.5% compared to 2021[18] - Gross profit for 2022 was $202.2 million, up from $166.9 million in 2021, reflecting a gross margin of 57.0%[20] - The net profit attributable to shareholders for 2022 was $40.2 million, compared to $31.2 million in 2021[3] - The company achieved a net profit of $40.1 million in 2022, reflecting increases of 6.2% and 23.2% year-over-year[45] - Adjusted net profit for the period was $48.6 million, a 20.7% increase from the same period in the previous year[45] - Net profit for the year increased by 23.2% to $40.1 million in 2022, compared to $32.5 million in 2021, with net profit margins of 11.3% and 11.1% respectively[71] - Total assets increased to $555.6 million in 2022, up from $530.1 million in 2021[29] - The company’s cash and bank balances decreased to $81.5 million in 2022 from $153.1 million in 2021[29] - The company’s total liabilities were $123.4 million in 2022, a slight decrease from $126.5 million in 2021[29] - The net cash flow from operating activities for the reporting period was $22 million, a decrease of 31.9% compared to $32.4 million in the previous year[107] - The net cash flow used in investing activities was $52.1 million, primarily due to investments in various companies including $5 million in Rick Brown and $59.3 million in Revance[108] - The net cash flow used in financing activities was $17.8 million, mainly due to lease payments and interest of $5 million, and dividends paid to shareholders of $9.3 million[109] - The total outstanding interest-bearing bank and other borrowings as of December 31, 2022, was $5.7 million, down from $7.3 million in the previous year[124] - The company reported a net profit of $40.1 million for the year, representing a 23.2% increase from $32.5 million in the previous year[118] - Adjusted net profit for the year was $48.6 million, reflecting a 20.7% increase compared to $40.3 million in the previous year[118] Revenue Segmentation - The beauty and digital dentistry segment saw a revenue increase of 34.4% year-over-year[13] - Direct sales accounted for 66% of total revenue in 2022, up 4% from the previous year, while distributor sales made up 34%[20] - The energy-based medical aesthetic equipment segment generated total revenue of $306.8 million in 2022, representing an 18.7% year-over-year growth[35] - Revenue from the medical aesthetics product line was $306.9 million in 2022, an 18.7% increase from $258.5 million in 2021, accounting for 86.6% of total revenue[58] - Revenue from the new dental business line reached $18.6 million, an increase of 34.4% compared to 2021[82] - European segment revenue rose by 12.4% from $51.9 million in 2021 to $58.3 million in 2022, driven by strong performance of the EBD brand[62] - Revenue from consumables grew from $5.1 million in 2021 to $6.2 million in 2022, reflecting a year-on-year increase of 22%[83] - The Asia-Pacific region's revenue increased by 15.1% from $85.2 million in 2021 to $98.1 million in 2022, driven by the integration of Fosun Dental and the successful launch of LMNTOne™[85] Strategic Initiatives - The company is focusing on expanding its business segments and developing differentiated products, including new biocompatible materials and personal home care devices[6] - The launch of Profhilo, a high-concentration HA injectable product, is part of the company's strategy to enhance its product offerings in the market[12] - The company plans to strengthen its brand presence in the APAC and EMEA markets through strategic investments and new product launches[16] - The introduction of Alma Ted™, a non-invasive treatment device for hair loss, addresses the growing demand in the North American market[19] - The company plans to strategically focus on developing the North American and Chinese markets while exploring opportunities in the Middle East in 2023[55] - The company plans to expand its direct sales operations with new offices opened in the UK and Dubai in 2022 and 2023 respectively[45] - The company will continue to assess and implement new technologies and business expansions to solidify its global position[77] - The company plans to continue strategic investments in material procurement to ensure inventory levels of key components[77] - The company plans to expand its global sales channels, with a budget allocation of HK$61 million for this purpose[169] Operational Costs and Expenses - Total sales cost increased by 19.5% to $152.3 million in 2022, up from $127.4 million in 2021, primarily due to increased revenue[64] - Administrative expenses rose by 33.3% from $21.8 million in 2021 to $29.1 million in 2022, primarily due to increased manpower in information systems[89] - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future growth, with no preset payout ratio[173] Investments and Financing - The company invested RMB 35.0 million in Fuzhou Ruikebrown Pharmaceutical Technology Co., acquiring a 23.2% stake[52] - The company raised approximately HKD 615.47 million from a placement completed on July 27, 2021, intended for the development of its injection filler business and expansion of global sales channels[146] - The company has a cash reserve of $135.6 million available for distribution as of December 31, 2022[177] - The company has established a hedging management framework to mitigate adverse effects from foreign exchange rate fluctuations since 2014[162] Employee and Shareholder Information - The company has a total of 851 employees, with 282 in operations, 93 in R&D, 346 in sales and marketing, and 131 in general and administrative roles[143] - Employee headcount increased by 21% during the year, with 148 new hires, and R&D activities were conducted solely at Alma, employing 93 out of 727 total employees[165] - As of December 31, 2022, 3,232,104 shares of common stock granted in the form of restricted stock units remain unvested, accounting for approximately 0.69% of the company's issued shares[135] - The company granted a special authorization to issue up to 22,107,780 shares under the restricted share unit plan, with 17,488,230 units granted by December 31, 2022[157] - The total fair value of free shares granted during the year was approximately $6,766,802, which will be accounted for as share-based compensation costs[160] Dividend and Share Capital - The board declared a final dividend of HKD 0.173 per share for the year ended December 31, 2022, an increase from HKD 0.157 per share for the previous year[149] - The board will review the dividend policy as necessary, considering financial performance, cash flow, and other relevant factors[150] - The company has no significant capital commitments as of December 31, 2022[111] - The company has not engaged in any significant acquisitions or disposals during the reporting period[156] Currency and Market Sensitivity - The company is sensitive to foreign currency exchange rate fluctuations, as its functional currency is USD, while it generates revenue in multiple currencies including Euro and Israeli Shekel[140] - The company’s top five suppliers accounted for less than 35% of total purchases, and the top five customers contributed less than 20% of total revenue during the reporting period[153]

Financial Performance - Revenue for the year ended December 31, 2022, was $354.48 million, an increase of 20.5% from $294.29 million in 2021[7] - Gross profit for the same period was $202.23 million, representing a gross margin of 57.0%, compared to $166.86 million and a gross margin of 56.7% in 2021[7] - Net profit for the year was $40.08 million, up 23.2% from $32.52 million in the previous year[7] - Basic earnings per share increased to 8.62 cents from 6.90 cents, reflecting a growth of 24.9%[7] - The total comprehensive income for the year was $34.76 million, up from $32.10 million in the previous year[9] - Total revenue for the year 2022 reached $354,480 thousand, an increase of 20.5% compared to $294,294 thousand in 2021[26] - The company achieved a pre-tax profit of $44.2 million and a net profit of $40.1 million, representing increases of 6.2% and 23.2% respectively compared to the previous year[99] - Adjusted net profit for the year was $48.6 million, a 20.7% increase year-on-year, with an adjusted net profit margin of 13.7%[99] - Net profit increased by 23.2% from $32.5 million in 2021 to $40.1 million in 2022, with net profit margins of 11.3% and 11.1% for 2022 and 2021, respectively[199] Assets and Liabilities - The company reported total assets of $432.23 million as of December 31, 2022, compared to $403.63 million in 2021, indicating a growth of 7.1%[11] - Non-current assets totaled $305,036 thousand in 2022, up from $232,532 thousand in 2021, reflecting a growth of 31.1%[22] - The net asset value increased to $432,225 thousand in 2022, compared to $403,625 thousand in 2021, representing a growth of 7.0%[23] - The total current liabilities decreased slightly to $80,125 thousand in 2022 from $83,556 thousand in 2021, a reduction of 5.2%[22] - The total non-current liabilities remained relatively stable at $43,251 thousand in 2022, compared to $42,951 thousand in 2021[23] Revenue Breakdown - Revenue from North America increased to $143.66 million in 2022, up 28.4% from $112.04 million in 2021[46] - Revenue from Europe rose to $58.32 million in 2022, compared to $51.89 million in 2021, reflecting a growth of 12.5%[46] - Revenue from the dental business reached $18.6 million, a 34.4% increase compared to 2021[175] - Revenue from the Asia-Pacific region grew by 15.1%, from $85.2 million in 2021 to $98.1 million in 2022, driven by the integration of Fosun Dental and the successful launch of LMNT One™[170] - Revenue from consumables grew from $5.1 million in 2021 to $6.2 million in 2022, marking a 22% increase[168] - North America revenue increased by 28.2% from $112.0 million in 2021 to $143.7 million in 2022, driven by the strong position of the Alma brand and the successful launch of Alma Ted™[193] - Middle East and Africa revenue rose by 18.7% from $30.8 million in 2021 to $36.6 million in 2022, primarily due to the expansion of direct operations in Israel[195] Research and Development - Research and development expenses for the year were $18.02 million, an increase from $15.59 million in 2021, highlighting the company's commitment to innovation[7] - Research and development investment increased by 15.6% year-on-year[132] - R&D expenses increased by 15.6% from $15.6 million in 2021 to $18.0 million in 2022, attributed to higher personnel costs[187] - The company’s employee base includes 10.9% research and development experts, highlighting its commitment to innovation[135] Market Expansion and Product Development - The company plans to continue expanding its market presence and investing in new product development to drive future growth[16] - The company launched a new transdermal drug delivery device, Alma Ted™, in March 2022 in the US, addressing the growing demand for non-invasive hair loss treatments[83] - The company introduced the first home-use device, LMNT One™, in May 2022 in China, followed by a launch in Italy in June 2022, catering to consumer demand for at-home comfort experiences[95] - The company successfully launched the CBD+ professional skincare solution™ in March 2022, which has been clinically proven to improve skin redness and soothe sensitive skin[92] - The company signed a distribution agreement with IBSA Derma for the distribution of its products in Israel, Hong Kong, India, and mainland China, enhancing its market presence[81] - The company has established new direct sales offices in the UK and Dubai to expand its direct sales strategy[137] - The company aims to enhance global brand awareness and focus on digital and B2C marketing strategies[162] Financial Management and Taxation - The effective corporate tax rate in Israel remained at 23% for both 2022 and 2021[54] - The total tax expense for the year 2022 was $4.162 million, a decrease from $9.152 million in 2021[69] - The effective tax rate for the company was 6% for the year ended December 31, 2022, consistent with the previous year, due to its status as a special preferred technology enterprise[59] - The effective tax rate for the company remained at 6% for both 2021 and 2022 due to its status as a special priority technology enterprise[197] Investments and Future Outlook - The company plans to continue investing in strategic projects, including upgrading IT infrastructure and advancing clinical research[100] - The company raised approximately HKD 615.47 million from the placement, with net proceeds expected to be used for developing its injection filling business, expanding global sales channels, and general working capital[130] - The company expects revenue growth of no less than 15%-25% for the full year of 2023 compared to the same period in 2022[161] - The company aims to create and expand an ecosystem covering multiple business lines and consumer brands to achieve long-term strategic goals[134]

Financial Performance - Revenue for the first half of 2022 reached $174.5 million, a 39.3% increase compared to the same period in 2021[23]. - Gross profit for the first half of 2022 was $99.6 million, resulting in a gross margin of 57.1%[18]. - The net profit for the first half of 2022 was $20.5 million, with a net profit margin of 11.8%[18]. - The company recorded a pre-tax profit of $23.1 million and a profit of $20.5 million for the reporting period, representing increases of 14.6% and 18.2% respectively compared to the same period in 2021[25]. - Adjusted net profit for the reporting period was $24.9 million, an increase of 27.5% year-on-year, with an adjusted net profit margin of 11.8%[25]. - The company reported a total tax expense of $2,545 thousand for the six months ended June 30, 2022, compared to $2,776 thousand for the same period in 2021, reflecting a decrease of approximately 8.3%[117]. - The effective corporate tax rate for the company in Israel remains at 23% for the reporting period, consistent with the previous year[109]. Product Development and Launches - In the first half of 2022, Sisram Medical achieved significant year-on-year growth, driven by the expansion of direct sales, consumer-led marketing activities, and the launch of new products such as the non-invasive hair loss and skincare solutions, as well as the first home beauty device, LMNT One[12]. - The company launched several new products, including the Alma Ted™ transdermal delivery platform and the LMNT One™ home device, to meet consumer demand[23]. - The company launched three new products during the reporting period, including Alma TED™, CBD+ Professional Skincare Solution™, and LMNT one, aimed at addressing various market needs[27]. Market Expansion and Strategy - The company is focused on expanding its product portfolio and market presence in the second half of 2022, while continuing to explore potential synergies across its various business units[8]. - The establishment of direct sales channels in the UK aims to build strong relationships with end customers and enhance customer loyalty[5]. - The company aims to expand its influence in key markets, particularly in the US and China, through direct sales strategies[15]. - The company is preparing to establish a North American office in 2023 to promote personal care brands and create a concept showroom[36]. - The company aims to explore undeveloped direct sales opportunities globally and enhance its market share in direct operating regions[34]. Research and Development - Investment in research and development increased by 3.5% to $8.3 million compared to the same period in 2021, with 10% of employees being R&D specialists[27]. - The company continues to invest in digital transformation projects, focusing on ERP and CRM modules globally[14]. - The company is expanding its digital transformation strategy and plans to enhance its research and development capabilities in anti-aging and regenerative medicine technologies[34]. Financial Position and Assets - The total assets as of December 31, 2022, amounted to $543.6 million, an increase from $530.1 million in 2021[19]. - Cash and bank balances as of December 31, 2022, were $148.7 million, slightly down from $153.1 million in 2021[19]. - The company had no unused bank financing as of June 30, 2022, primarily funding operations through cash generated from operating activities[59]. - The total cash and cash equivalents at the end of the reporting period increased by 57.1% to $140.3 million, compared to $89.3 million at the end of 2021[67]. Operational Efficiency - The company is actively seeking and evaluating potential mergers and acquisitions to expand its product line and enhance its beauty and health ecosystem[15]. - The company is actively exploring the synergy of its four core business segments, which include energy-based medical aesthetic equipment, injection filling, beauty and digital dentistry, and personal care, to provide comprehensive medical aesthetic solutions[7]. - The company emphasizes the importance of optimizing and upgrading its beauty and health ecosystem through product investment and channel development[5]. Shareholder Information - The company declared a dividend of $9,374 thousand for the period, reflecting a commitment to returning value to shareholders[91]. - The group maintained a public float of no less than 25% of the issued shares as of the report date[144]. - Major shareholder "Neng Yue" holds 204,275,760 shares, representing approximately 43.82% of the total shares[149]. - Major shareholder "Meizhong Huli" holds 127,318,640 shares, representing approximately 27.31% of the total shares[149].

Financial Performance - The company reported a revenue of $294.294 million for the year 2021, a significant increase of 81.6% compared to $162.095 million in 2020[3]. - Gross profit for 2021 was $166.861 million, representing a gross margin of 56.7%, up from 55.7% in 2020[3]. - The net profit attributable to shareholders for 2021 was $31.245 million, which is a 134.5% increase from $13.344 million in 2020[3]. - Total assets increased to $530.132 million in 2021, up from $431.806 million in 2020, marking a growth of 22.8%[4]. - The company's total liabilities rose to $126.507 million in 2021, compared to $99.917 million in 2020, reflecting a 26.6% increase[4]. - Cash and bank balances reached $153.062 million in 2021, an increase of 31.3% from $116.527 million in 2020[4]. - The adjusted net profit for the year was $40.3 million, a 100.0% increase compared to the previous year[28]. - The net profit for the year increased by 121.5% to $32.5 million, compared to $14.7 million in the same period last year, with net profit margins of 11.1% and 9.1% respectively[52]. - Total comprehensive income for the year was $32.103 million, compared to $16.685 million in 2020, showing a 92.2% increase[173]. - The company reported a pre-tax profit of $41.672 million, significantly higher than $16.662 million in 2020, representing a 150.0% increase[172]. Market Expansion and Strategy - The beauty and wellness market, which the company is targeting, reached a size of $4.4 trillion in 2020, indicating significant growth potential[10]. - The company aims to become an industry leader in the beauty and wellness market, expanding its business scope to cover various aspects of consumer health and wellness[10]. - The company plans to strategically focus on expanding direct operations in key markets in 2022, improving digital infrastructure, and increasing brand awareness globally[17]. - Revenue in North America more than doubled, while the Asia-Pacific region's revenue nearly doubled, Latin America grew by approximately 80%, and Europe, the Middle East, and Africa saw nearly 50% growth[14]. - The company plans to expand its market presence through new product development in medical aesthetics and dental equipment, as well as through strategic acquisitions[180]. Product Development and Innovation - The medical aesthetics business line led by Alma achieved a revenue growth of 70% in 2021, launching two new products: Alma Duo and Alma PrimeX[13]. - The injection filling business line saw a year-on-year revenue increase of 50%, with two new products in the pipeline aimed at changing the industry landscape, currently in research and clinical study phases[14]. - The personal care brand LMNT aims to enhance consumer health through daily personal care products, with the first product, LMNT one, set to launch in March 2022, utilizing clinically validated laser wavelengths[16]. - The company has developed unique innovative technologies to meet diverse market demands and provide reliable solutions to consumers[8]. - The company launched two new products during the reporting period: "Alma Duo" and "Alma PrimeX," aimed at enhancing clinical treatment and body shaping[29]. Research and Development - Research and development investment reached $11 million in 2021, reflecting a commitment to innovation[24]. - R&D investment increased by 42.3% year-on-year, with 13% of employees being R&D specialists[29]. - The company conducted 24 clinical and preclinical studies, including 11 commissioned studies and 13 investigator-initiated trials[29]. - Research and development expenses increased to $15.594 million from $10.957 million, a rise of 42.5%[172]. Corporate Governance and Compliance - The board of directors is committed to high standards of corporate governance, which is essential for protecting shareholder interests and enhancing corporate value[115]. - The company has adopted a corporate governance manual to ensure compliance with listing rules, including related party transactions and insider trading[138]. - The independent non-executive directors play a crucial role in overseeing the company's strategic direction and risk management[153]. - The company has established three committees: the audit committee, the remuneration committee, and the nomination committee, each with specific written terms of reference[122]. Financial Management and Investments - The company is focused on protecting its financial assets and corporate value during challenging times[29]. - The company issued shares worth $79,177,000 during the year, contributing to the increase in equity[175]. - Cash flow from operating activities was $32.4 million, reflecting strong revenue performance compared to the previous year[63]. - The company invested approximately 4.7% or HKD 35.90 million in increasing clinical research funding in the US[81]. Human Resources and Employee Engagement - The company experienced a 44.9% increase in employee count, hiring 147 new employees, bringing the total to 703[76]. - The company emphasizes the importance of human resources by providing a fair work environment, competitive compensation, and various career advancement opportunities based on employee performance[112]. - The company prioritizes customer satisfaction and has established mechanisms to handle customer service, support, and complaints, viewing complaints as opportunities for improvement[112]. Environmental and Social Responsibility - The company is committed to improving environmental performance through eco-friendly operational measures and has signed multiple external charters to enhance energy efficiency and reduce carbon emissions[109]. - The company actively collaborates with business partners, including suppliers and contractors, to provide high-quality sustainable products and services[112]. Shareholder Communication and Relations - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[144]. - The company has established a shareholder communication policy to ensure that shareholder opinions and concerns are adequately addressed[146]. - The company encourages shareholders holding at least 1% of shares to submit written inquiries or requests to the board[143].

Business Expansion and Product Development - In the first half of 2021, the company launched the high-tech shaping platform Alma PrimeX and entered the male health market with Alma Duo, indicating a strategic expansion into new treatment areas [4]. - The company completed the acquisition of a leading dental medical device marketing platform in China, further expanding its dental business and exploring diversified collaborative development between medical aesthetics and dental aesthetics [4]. - The company signed a long-term licensing agreement for the RT002 injection product with Fosun Pharma, aiming to enrich its product portfolio in injectables [4]. - The company received FDA approval for the Alma Hybrid device, which combines three core energy source technologies, solidifying its leading position in the global industry [4]. - The company launched two new products during the reporting period: "Alma Duo" and "Alma PrimeX," focusing on advanced treatment technologies [24]. - The company is exploring acquisition opportunities to enhance its R&D capabilities and product distribution channels [30]. Financial Performance - Revenue for the first half of 2021 reached $125.293 million, a significant increase from $71.736 million in 2020, representing a growth of 74.5% year-over-year [18]. - Gross profit for the same period was $71.478 million, up from $39.902 million in 2020, resulting in a gross margin of 57.0% [18]. - The net profit attributable to the company's shareholders was $16.4 million, representing 13.1% of total revenue, an increase of 5.4% year-over-year [22]. - The company achieved a pre-tax profit of $20.1 million, a 214.9% increase compared to the same period in 2020 [24]. - The adjusted net profit for the period was $19.6 million, a 126.2% increase year-over-year, with an adjusted net profit margin of 15.6% [24]. - The company reported a net profit of $16,379,000 for the period, contributing to a total comprehensive income of $15,065,000 after accounting for foreign exchange losses [86]. Research and Development - The company invested $8.1 million in R&D, a 62.5% increase compared to $5.0 million in 2020 [11]. - Research and development investment increased by 62.5% to $8.1 million, compared to $5.0 million in the same period of 2020 [24]. - The company conducted 29 clinical and pre-clinical studies during the reporting period, covering various medical fields [24]. - The company is committed to developing personal care products to strengthen connections with end consumers through internal research and external collaborations [4]. Market Performance and Regional Growth - The company reported a revenue increase from $71.7 million to $125.3 million, representing a 74.7% year-over-year growth, primarily due to the recovery of global economic activities post-COVID-19 [33]. - Revenue from the Asia-Pacific region increased by 54.9% compared to the same period in 2020, accounting for 26.9% of the total group revenue [28]. - North America was the largest revenue contributor at $49.1 million, reflecting a 115.1% increase from $22.8 million in the prior year [37]. - Asia-Pacific revenue rose by 54.9% from $21.8 million in 2020 to $33.7 million, attributed to strong performance in China and Japan, as well as direct operations in Australia [38]. - Europe revenue grew by 44.8% from $16.4 million in 2020 to $23.7 million, mainly due to strong performance of the hair removal brand "Soprano" despite pandemic challenges [38]. Corporate Governance and Compliance - The company has fully complied with the corporate governance code during the reporting period, ensuring high standards of corporate conduct and transparency [4]. - The company is committed to increasing shareholder value through high standards of corporate governance and accountability [7]. - The company has adopted a trading policy for directors and executives, ensuring compliance with securities trading regulations [12]. Digital Transformation and Marketing Strategies - The company plans to strategically focus on digitalization and global consumer brand establishment in the second half of 2021 [15]. - The company has enhanced its online presence through various live streaming events to promote B2B and B2C sales opportunities [26]. - The company has developed new social media channels, including a TikTok account to boost brand awareness globally [26]. - The company plans to expand its digital transformation strategy, focusing on customer-centric operations and data-driven decision-making [30]. Financial Position and Cash Flow - Cash and bank balances increased to $129.430 million as of June 30, 2021, from $116.527 million at the end of 2020 [18]. - The company reported a net cash outflow from investing activities of $9.8 million, primarily due to short-term bank deposits and capital expenditures [64]. - Net cash flow from operating activities was $20.8 million, a significant increase of 19,040% compared to a cash outflow of $0.11 million in the same period last year [62]. - The company’s cash and bank balances stood at $129.430 million as of June 30, 2021, compared to $116.527 million at the end of 2020, showing a growth of 11.1% [82].

SISTAM Medical Ltd 復銳醫療科技有限公司* (於以色列註册成立的有限公司) Enhancing Quality of Life 提高生活品質 2020 年度報 復銳醫療科技 股份代號:1696.HK *僅供識別 目錄 170 釋義 | --- | --- | |-------|--------------------------| | | | | 2 | 財務概要 | | 3 | 主席報告書 | | 5 | 首席執行官回顧 | | 7 | 管理層討論及分析 | | 24 | 董事會報告 | | 33 | 企業管治報告 | | 45 | 董事及高級管理層履歷詳情 | | 50 | 獨立核數師報告 | | 56 | 綜合損益表 | | 57 | 綜合全面收益表 | | 58 | 綜合財務狀況表 | | 59 | 綜合權益變動表 | | 61 | 綜合現金流量表 | | 63 | 財務報表附註 | | 135 | 環境、社會及管治報告 | | 168 | 公司資料 | 財務概要 本集團過去五個財政年度的已刊發業績及資產及負債（乃按照下文所載附註載列的基準編製）概要如下。 業績 | --- | -- ...

Financial Performance - Revenue for the six months ended June 30, 2020, was $71.736 million, down from $85.432 million in the same period of 2019[19]. - Total revenue for the first half of 2020 was $71.7 million, a decrease of 16.0% compared to the same period in 2019, primarily due to the impact of COVID-19 on the global economy[23]. - Gross profit for the same period was $39.902 million, resulting in a gross margin of 55.6%[19]. - Net income for the six months ended June 30, 2020, was $5.738 million, with a net profit margin of 8.0%[19]. - Adjusted net profit for the reporting period was $8.6 million, a decline of 47.2% compared to the same period in 2019, reflecting the significant impact of COVID-19 on the global medical aesthetics industry[25]. - Total revenue for the six months ended June 30, 2020, was $71,736,000, a decrease of 16.1% compared to $85,432,000 for the same period in 2019[99]. - The net profit for the period was $5.738 million, compared to $13.865 million in the previous year, reflecting a decline of approximately 58.6%[75]. Market Expansion and Growth - The company experienced significant growth in China, being the first country to recover from the pandemic, with a notable year-on-year increase in business performance[5]. - North American subsidiaries maintained high revenue levels with slight growth compared to the same period last year[5]. - The company plans to focus on market expansion in new regions such as Australia and South Korea[30]. - The company is optimistic about the global demand for energy-based medical devices and aims to continue expanding its product range through ongoing R&D investments[6]. - The company has a significant presence in the Asia-Pacific region, indicating potential for market expansion[156]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2022[160]. Research and Development - The company is focused on exploring potential collaboration opportunities and external acquisition chances to strengthen its position in the medical technology market[6]. - The company is focusing on upgrading IT infrastructure and continuing R&D projects as part of its strategic initiatives[13]. - Research and development expenses accounted for 10% of total revenue, highlighting the company's commitment to innovation[160]. - The company aims to enhance R&D capabilities and product portfolio through exploring and executing relevant mergers and acquisitions[29]. - 13.8% of the company's employees are research and development specialists, indicating a strong focus on innovation[25]. Operational Resilience and Strategy - The company is committed to maintaining a strong focus on long-term strategic goals despite the challenges posed by the pandemic[10]. - The digital transformation strategy is being accelerated, aiming to optimize internal processes and enhance customer value through big data and cloud technologies[3]. - The company aims to support employees and business partners during challenging times while ensuring operational resilience[13]. - The company has implemented a global localization approach to monitor pandemic trends and coordinate operations across subsidiaries[25]. - The company is upgrading its IT infrastructure and continuing strategic projects, including clinical research and digital marketing initiatives[25]. Financial Health and Management - Total debt decreased to $62.575 million from $67.356 million at the end of 2019[20]. - Cash and cash equivalents were $99.071 million as of June 30, 2020, down from $107.792 million at the end of 2019[20]. - The company maintained a strong business foundation with sufficient funds to meet future business needs and maintain operational flexibility[25]. - The company reported a pre-tax profit of $5,504,000 for the six months ended June 30, 2020, compared to $13,209,000 for the same period in 2019, reflecting a decline of 58.3%[112]. - The company has not reported any rental payment reductions due to COVID-19, maintaining stable lease terms[95]. Product Development and Innovation - The company launched two new products: Opus Plasma, utilizing plasma skin rejuvenation technology, and Harmony XL PRO, featuring a breakthrough applicator that doubles the efficacy of previous solutions[25]. - New product launches are expected to contribute an additional 300 million HKD in revenue over the next fiscal year[160]. - The company is investing 200 million HKD in new technology development to enhance product offerings and improve customer experience[160]. Shareholder and Corporate Governance - The company is committed to high standards of corporate governance and has complied with all relevant codes during the reporting period[146]. - The company has maintained a public float of no less than 25% of the issued shares as of the report date[135]. - Major shareholder CML holds 127,318,640 shares, representing approximately 28.79% of the total shares[141]. - The company has confirmed compliance with its own code of conduct regarding securities trading by all directors during the reporting period[145].