Financial Performance - The Group's revenue for the year ended December 31, 2022, reached HK$1,731,903,000, representing a 55.7% increase compared to HK$1,112,577,000 in 2021[6]. - Gross profit for the same period was HK$447,697,000, up 25.0% from HK$358,228,000 in 2021[6]. - The Group reported a loss of HK$11,227,000 for the year, an improvement from a loss of HK$46,225,000 in the previous year[6]. - Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 22.5% to HK$225,351,000 from HK$183,976,000 in 2021[6]. - The gross profit margin for the year was 25.9%, a decrease from 32.2% in 2021, reflecting a 6.3 percentage point drop[6]. - Revenue from the core medical business reached HK$1,433.6 million, up 28.9% year-on-year, driven by increasing demand for high-quality medical services[19]. - Revenue from ophthalmic services increased to HK$1,074.3 million in 2022, up 16.8% from HK$920.0 million in 2021, driven by a higher number of surgeries and increased average surgery fees in Hong Kong[41]. - Revenue from dental and other medical services surged to HK$198.3 million in 2022, a remarkable increase of 279.9% from HK$52.2 million in 2021, primarily due to the integration of the newly acquired Shenzhen CKJ business[41]. - Revenue from operations in Mainland China increased by 10.4% year-on-year to HK$627.9 million, with ophthalmic business revenue at HK$502.9 million and new dental services contributing HK$125.0 million[19]. - Revenue from medical services in Hong Kong increased by 48.1% to HK$805.7 million, up from HK$543.9 million in 2021[31]. Business Expansion and Acquisitions - The Group expanded its ophthalmic services in the Greater Bay Area (GBA) by adding three new eye centers and five optometry centers during 2022[9]. - The acquisition of Shenzhen C-MER Aikangjian Dental Group Co., Ltd. positioned the Group as one of the largest private medical groups in Shenzhen[8]. - The acquisition of Shenzhen CKJ, a major dental service group, was completed in 2022, establishing the Group as one of the largest private medical groups in Shenzhen[16]. - The Group's ophthalmic hospitals in operation increased to nine, covering five key cities in the GBA, with the opening of two new hospitals in 2022[10]. - The Group expanded its ophthalmic service network in Mainland China, establishing nine eye hospitals and two eye centres, with the ninth and tenth hospitals commencing operations in Guangzhou and Jieyang in April and August 2022, respectively[27]. - The Group plans to establish or acquire eye hospitals and dental clinics in Hong Kong, Shenzhen, and selected Mainland China cities to expand its service offerings[71]. - The Group completed the acquisition of Shenzhen CKJ, becoming the largest ophthalmic service provider in Hong Kong and one of the largest private medical service groups in Shenzhen[71]. Market Outlook and Recovery - The Group anticipates strong recovery in the consumer medical market following the resumption of cross-border travel between Mainland China and Hong Kong in early 2023[8]. - The ophthalmic business in Hong Kong experienced a rapid rebound in the second half of 2022, strengthening its leading position in the local market[9]. - The Group's dental business in Shenzhen has recovered to pre-pandemic levels, showing stable and positive growth momentum[17]. - The Group is well positioned to capture opportunities in the fast-growing consumer healthcare market in Shenzhen post-pandemic[17]. - The Group experienced a significant rebound in business in 2023 following the relaxation of COVID-19 measures, driven by strong economic and consumption activities in Mainland China[71]. Operational Highlights - Approximately 91% of the revenue from medical services in Shenzhen and other parts of Mainland China is derived from privately-paid medical services[17]. - The proportion of revenue from consumer eye services reached 72% of the Group's Mainland China ophthalmic business[17]. - The Group's core medical business achieved record high revenue, marking a significant milestone in its 10-year development[11]. - The Group's efforts in developing the GBA have been fruitful, marking a significant milestone in its 10th anniversary[8]. - The preliminary preparation for Foshan Eye Hospital is largely completed, expected to commence service within the year, increasing the number of hospitals in the GBA to six[10]. Financial Position and Capital Management - As of December 31, 2022, the Group reported cash and cash equivalents of HK$644.7 million, short-term bank deposits of HK$31.3 million, and bank borrowings of HK$34.3 million[72]. - The effective interest rate of borrowings increased to 5.49% per annum in 2022 from 2.44% in 2021, with total borrowings decreasing from HK$179.4 million in 2021 to HK$34.3 million in 2022[73]. - The current ratio as of December 31, 2022, was 1.63 times, down from 1.83 times in 2021, indicating a slight decrease in liquidity[74]. - Net cash generated from operating activities increased to HK$164.9 million in 2022, up from HK$144.4 million in 2021, attributed to an increase in business scale[74]. - The Group's diversified portfolio of businesses remained resilient despite challenges faced during the pandemic[23]. Governance and Management - The Company has a strong management team with members holding various prestigious qualifications and awards in the field of ophthalmology[106][107]. - The Company has maintained a stable executive team with no changes in directorship in the past three years[110][114]. - The Group emphasizes the importance of employee relationships and has implemented competitive compensation packages and training programs to retain key staff[135]. - The Group's remuneration policy is based on merit, qualifications, and performance, with discretionary bonuses linked to profitability[183]. Risks and Challenges - The Group's operations are significantly influenced by reputation risk, which can adversely affect market recognition and trust in services[134]. - Customer risk is a concern as the Group provides mid- to high-end medical services, making it sensitive to changes in patient preferences and economic conditions[134]. - Regulatory risk may impact the Group's operations in Hong Kong and Mainland China due to changes in government policies and regulations[134]. - Talent risk is critical, as the ability to attract and retain qualified medical professionals directly affects hospital and clinic operations[135]. Shareholder and Dividend Policy - The Board does not recommend the payment of a final dividend for the year ended December 31, 2022[132]. - The Company has adopted a dividend policy aimed at maintaining sufficient operating capital and providing stable returns to shareholders[133]. - Factors considered for dividend recommendations include the Group's financial results, liquidity position, and future operations[133]. Related Party Transactions - The Company has complied with the disclosure requirements under Chapter 14A of the Listing Rules regarding connected transactions[195]. - The independent non-executive Directors confirmed that the continuing connected transactions did not exceed their respective annual caps for the year ended 31 December 2022[194]. Strategic Initiatives - The Group aims to solidify its leadership position in the ophthalmology sector in Hong Kong through market share expansion and medical team growth[198]. - The Group's financial position was strengthened through the 2022 Placing and First Subscription, raising capital for working capital and expansion[88].

[177 -> 203] Xima Research Institute's 2022 performance conference. Now, please allow me to introduce the management team attending today's conference. They are Professor Lin Shunchao, President and Executive Director of Xima Research Institute. Ms. Li Xiaoting, Executive Director of Xima Research Institute. Mr. Chen Huaping, Chief Financial Director of Xima Research Institute. Mr. Chen Yongji, Chief Strategy and Investment Director of Xima Research Institute. [205 -> 229] Welcome to the management team. Th ...

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 全部或任何部分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。 附 註： 1 該 項 目 並 非 香 港 財 務 報 告 準 則（「香港財務報告準則」）下 計 量 表 現 的 指 標，惟 獲 管 理 層 從 營 運 角 度 廣 泛 應 用 於 監 控 公 司 業 務 表 現。其 未 必 可 與 其 他 公 司 呈 列 的 類 似 計 量 指 標 作 比 較。 C-MER EYE CARE HOLDINGS LIMITED 希瑪眼科醫療控股有限公司 （股份代號：3309） （於開曼群島註冊成立之有限公司） 截 至2022年12月31日止年度 的全年業績 | --- | --- | --- | --- | --- | --- | |------------------------------------------|---------|-------|-----------|--------------|----- ...

Financial Performance - Revenue for the year ended December 31, 2018, was HK$429,374,000, representing a 38.0% increase from HK$311,228,000 in 2017[13] - Gross profit for the same period was HK$149,337,000, up 10.3% from HK$135,431,000 in 2017[13] - Profit for the year increased by 6.1% to HK$42,571,000 from HK$40,127,000 in 2017[13] - Adjusted net profit for the year decreased by 30.6% to HK$44,592,000 from HK$64,287,000 in 2017[13] - Gross profit margin fell to 34.8% from 43.5%, a decrease of 8.7 percentage points[13] - Net profit margin decreased to 9.9% from 12.9%, a decline of 3.0 percentage points[13] - The total revenue for the year ended December 31, 2018, increased by 38.0% to HK$429.4 million, compared to HK$311.2 million for the year ended December 31, 2017[55] - Revenue from the provision of ophthalmic services rose by 37.4% to HK$399.9 million, driven by an increase in the number of surgeries performed and the number of ophthalmologists[55] - Sales of vision aid products increased by 46.2% to HK$29.5 million, up from HK$20.2 million in the previous year[55] - The gross profit margin decreased to 34.8% from 43.5% in 2017, while gross profit increased to HK$149.3 million from HK$135.4 million[45] - Net profit for the year ended December 31, 2018, increased by only 6.1% to HK$42.6 million, impacted by net losses from the Beijing eye hospital and the new satellite clinic in Baoan[46] Expansion Plans - The Group plans to expand its service network in Kunming and Shanghai through acquisitions and establish a new eye hospital in Huizhou in 2019[17] - An agreement was signed to acquire 100% equity interest in Shanghai Lucida Medical Scientific Ltd, which operates an eye hospital and three clinics in Shanghai[18] - The acquisition of Kunming Eye Hospital aims to enhance the Group's presence in Western China, leveraging local expertise[19] - Establishing an eye hospital in Huizhou will strengthen the Group's service offerings in Guangdong province, where demand for high-quality ophthalmic services is strong[19] - The Group plans to open its first eye hospital in Huizhou, Guangdong province, in the second half of 2019, which will have ten consultation rooms and three operation theatres[39] - The Group aims to expand its service network in the Guangdong-Hong Kong-Macau Greater Bay Area and other regions in the PRC[39] - The Group's strategic focus includes establishing or acquiring eye hospitals and clinics in selected cities in the PRC and improving operational capacity[36] - The company plans to open its first eye hospital in Huizhou, Guangdong Province, in the second half of 2019, which will enhance its service network in the region[41] - The company entered into an agreement to acquire 80% of Kunming Eye Hospital for RMB30 million (approximately HK$35.2 million) and a subsequent capital injection of RMB20 million (approximately HK$23.5 million), expected to complete by April 2019[43] - An agreement was made to acquire 100% equity interest of Shanghai Lucida Medical Scientific Ltd for a maximum cash consideration of RMB82.9 million (approximately HK$97.3 million), expected to complete by June 2019[44] Operational Highlights - The Group's operations in the PRC recorded a significant revenue increase of 73.7% during the year ended December 31, 2018, driven by strong demand for quality medical services[25] - The eye hospital in Shenzhen generated revenue of HK$179.7 million, reflecting a growth rate of 47.7% compared to HK$121.7 million in 2017[27] - The Group's Hong Kong operations contributed 50.8% of total revenue, with a revenue increase of 15.0% to HK$218.0 million during the year ended December 31, 2018[26] - The eye hospital in Beijing, which commenced operations in January 2018, generated total revenue of HK$31.7 million but incurred a net loss of HK$23.2 million during the year[28] - Revenue generated from operations in Hong Kong accounted for 50.8% of total revenue, down from 60.9% in 2017, while revenue from the PRC increased by 73.7%[56] - Total revenue for ophthalmic services increased by 37.4% to HK$399.9 million in 2018 from HK$291.1 million in 2017[60] - Revenue from consultation and other medical service fees rose by 41.1% to HK$160.2 million, with significant growth in both Hong Kong (29.9%) and PRC (55.8%)[60] - Total surgery fees increased by 35.0% to HK$239.7 million, with PRC surgery fees doubling (100.8%) to HK$107.8 million[60] - The number of surgeries performed in PRC surged by 86.3% to 7,202, attributed to the opening of new eye hospitals[65] - Four new service locations commenced operations to meet increased demand, including two in PRC and two in Hong Kong[72] Cost and Expenses - Cost of revenue rose by 59.3% to HK$280.0 million, driven by increases in inventories, staff salaries, and rent[72] - Selling expenses rose by 134.5% from HK$11.3 million in 2017 to HK$26.5 million in 2018, representing 6.2% of total revenue, up from 3.6% in 2017[77] - Total administrative expenses for 2018 were HK$66.9 million, with other administrative expenses increasing by 48.8% to HK$64.9 million, driven by higher staff salaries due to business expansion[81][82] Cash Flow and Financial Position - Net cash generated from operating activities decreased to HK$40.9 million in 2018 from HK$65.5 million in 2017, reflecting a decline in cash generated from operations[138][142] - Net cash used in investing activities increased significantly to HK$274.6 million in 2018 from HK$89.9 million in 2017, with approximately HK$249.1 million allocated for bank deposits and HK$29.8 million for property, plant, and equipment[139][142] - Net cash generated from financing activities surged to HK$630.4 million in 2018 compared to HK$41.2 million in 2017, primarily due to proceeds from the issuance of shares amounting to HK$657.0 million[140][143] - As of December 31, 2018, the Group's cash and bank balances totaled HK$471.8 million, with short-term bank deposits of HK$249.1 million[142] - The current ratio as of December 31, 2018, was 14.84 times, a significant increase from 1.46 times in 2017[142] Management and Governance - The company has directors with extensive experience in ophthalmology and management, enhancing its operational capabilities[156] - The company has been recognized for its contributions to ophthalmology, with multiple awards received by its directors[160] - The company is focused on expanding its operations in Hong Kong and Shenzhen, leveraging the expertise of its management team[158] - The company has a strong commitment to innovation in ophthalmic practices, as evidenced by the patents held by its executives[165] - The leadership team includes individuals with significant military and governmental experience, contributing to strategic decision-making[172] - The Company has a diverse board with expertise in finance, healthcare, and management, which supports strategic decision-making[199] - The Company is committed to maintaining high standards of governance and financial oversight through its experienced board members[192]