7月8日，现代牙科回购10.00万股股票，每股回购均价4.36港元，共耗资约43.62万港元，本年累计回购 592.70万股，占总股本0.63%。 现代牙科是一家在港股上市的公司，专注于牙科领域。它在牙科产品的研发、生产和销售方面有着广泛 的业务布局。现代牙科的产品涵盖了多个方面，包括义齿、牙科设备及相关牙科材料等。在牙科行业 中，现代牙科凭借其技术研发能力、生产工艺以及广泛的销售网络占据一定的市场地位。其生产的义齿 产品能够满足不同客户的需求，无论是从质量还是从美观度等方面都具有一定的竞争力。公司在市场上 的表现也受到多种因素的影响，如牙科行业整体的发展趋势、技术创新、市场竞争格局以及全球经济环 境等。在全球范围内，随着人们对口腔健康的重视程度不断提高，牙科市场有着广阔的发展前景，现代 牙科也在这样的市场环境下不断发展并通过回购股票等方式来优化公司的资本结构和市场形象。 本文源自：金融界 作者：港股君 现代牙科近期回购情况 回购日期回购均价回购股数回购金额本年累计回购股数2025-07-084.36210.00万43.62万592.70万2025-07- 074.31610.00万43.16万582.70万 ...

7月7日港股公司回购一览 | 代码 | 简称 | 回购股数 | 回购金额（万 | 回购最高价 | 回购最低价 | 年内累计回购金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | 港元） | （港元） | （港元） | （万港元） | | 00700 | 腾讯控股 | 100.20 | 50058.94 | 502.000 | 494.400 | 3854195.72 | | 01299 | 友邦保险 | 550.00 | 37676.01 | 69.150 | 68.050 | 1635193.90 | | 00418 | 方正控股 | 1038.60 | 1174.36 | 1.150 | 1.110 | 3540.93 | | 01681 | 康臣药业 | 40.60 | 448.53 | 11.080 | 10.960 | 3689.99 | | 01907 | 中国旭阳 集团 | 175.00 | 435.95 | 2.510 | 2.480 | 14713.68 | | 02039 | 中集集团 | 48.83 | 309.43 ...

Core Insights - Modern Dental (03600.HK) is actively implementing multi-dimensional strategies to capture market opportunities and increase sales despite a challenging macroeconomic environment [1] - The acquisition of Thailand's largest dental laboratory, Hexa Ceram Company Limited, is expected to enhance the company's product offerings and market coverage, allowing it to outperform domestic and international competitors [1] - The company is leveraging its production facilities in Thailand, Vietnam, and Dongguan to demonstrate resilience in an uncertain international trade environment and capitalize on global digitalization trends [1] Financial Performance - For the three months ending March 31, 2025, the total revenue of the group was approximately HKD 881.11 million, representing an increase of about 5.3% compared to HKD 837.00 million for the same period in 2024 [1] - The total sales volume increased by approximately 26.6% to about 672,000 units for the three months ending March 31, 2025, compared to approximately 531,000 units for the same period in 2024 [2] - Excluding sales from Hexa Ceram, the group's sales volume increased by about 0.9% to approximately 536,000 units, while excluding Micro Dental and Hexa Ceram, the sales volume rose by about 2.1% to approximately 479,000 units [2] Digital Solutions - The contribution from Hexa Ceram included approximately 14,298 cases of digital solutions, with the total number of digital solution cases produced in China, Thailand, and Vietnam increasing to about 223,587 cases, a rise of 28.4% compared to approximately 174,193 cases in the same period of 2024 [2] - The increase in digital solution cases is attributed to more customers adopting intraoral scanners [2]

Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of approximately HKD 3,364 million, an increase of about 6.1% compared to HKD 3,172 million in 2023[22]. - The gross profit margin for the same period was approximately 53.5%, with gross profit amounting to HKD 1,798 million, reflecting a 5.8% increase from HKD 1,700 million in 2023[22]. - Adjusted EBITDA for the fiscal year was approximately HKD 741 million, marking a historical high and an increase of about 2.1% from HKD 694 million in 2023[22]. - The net profit for the fiscal year was approximately HKD 406 million, a 1.2% increase from HKD 402 million in 2023[22]. - The adjusted EBITDA for the year ended December 31, 2024, was approximately HKD 741,481,000, an increase of about HKD 47,582,000 or 6.9% compared to 2023[26]. - Core business profit for the year ended December 31, 2024, was approximately HKD 434,982,000, reflecting an increase of about HKD 33,377,000 or 8.3% from 2023[26]. - Basic earnings per share for the year ended December 31, 2024, were HKD 0.432, up approximately 1.9% from HKD 0.424 in 2023[26]. - The total revenue for the year ended December 31, 2024, was HKD 3,364,018,000, representing a 6.1% increase from HKD 3,172,048,000 in 2023[25]. - The company reported a significant increase in overall market strategy and management, with a focus on dental technology and related production techniques[122]. Market Expansion and Strategy - The company is actively pursuing strategic acquisitions, including the acquisition of Hexa Ceram Company Limited, Thailand's largest dental laboratory, to enhance its product offerings and market coverage[20]. - The company has invested in digital workflows and proprietary dental solutions, positioning itself at the forefront of the digital transformation in the dental industry[9]. - The company aims to evolve into a comprehensive dental ecosystem by 2025, providing full support to customers and enhancing its product offerings, particularly in clear aligners[59]. - The company plans to establish a new business unit in Vietnam to serve mid to large dental clinic chains in North America, enhancing operational flexibility amid tariff challenges[51]. - The company aims to leverage digitalization trends in the dental industry to capture market share and enhance customer experience through advanced digital solutions[50]. - The company has made several landmark acquisitions, including the recent acquisition of Thailand's largest dental laboratory, Hexa Ceram, to diversify its global distribution and sales network[59]. - The company plans to strengthen its global leadership position through strategic measures, including acquisitions and partnerships, to expand its product offerings and enhance its distribution network[59]. Regional Performance - The company experienced growth in various regions, with Europe showing a double-digit increase in revenue, driven by the digitalization trend in the dental industry[29]. - In Europe, revenue amounted to HKD 1,618,436,000 for the fiscal year ending December 31, 2024, representing a 16.1% growth from HKD 1,399,371,000 in 2023, accounting for 48.1% of total revenue[50]. - North America generated revenue of HKD 752,083,000, a slight decrease of HKD 1,532,000 from HKD 753,615,000 in 2023, contributing approximately 22.3% to total revenue[51]. - The Greater China market recorded revenue of approximately HKD 662,210,000 for the year ending December 31, 2024, a decrease of about HKD 51,382,000 compared to the previous year, representing approximately 19.7% of total group revenue, down from 22.5%[55]. - The Australian market generated revenue of approximately HKD 264,752,000 for the year ending December 31, 2024, an increase of about HKD 10,411,000, accounting for approximately 7.9% of total group revenue, slightly down from 8.0%[56]. - The company reported a 30.1% increase in revenue from other markets, totaling HKD 66,537,000 compared to HKD 51,129,000 in 2023[46]. Operational Efficiency and Investments - The company has expanded its production capacity with the full operation of its Dongguan Phase II and Vietnam facilities to meet growing demand[11]. - The company is committed to sustainable growth and responsible business practices, focusing on minimizing waste and carbon emissions through digital production technologies[13]. - The company is committed to investing in digitalization to improve operational efficiency and customer experience, positioning itself at the forefront of industry integration[58]. - Research and development costs for the year were approximately HKD 43,564,000, representing about 3.1% of the group’s revenue, an increase from 2.4% in 2023[83]. - Capital expenditures for the year ended December 31, 2024, amounted to approximately HKD 153,504,000, with investments in cutting-edge technology machinery totaling approximately HKD 59,207,000, up from HKD 32,862,000 in 2023[83]. Financial Management and Governance - The group’s debt ratio as of December 31, 2024, was approximately 14%, a decrease from 16% in 2023, indicating a stable financial condition[87]. - The group has significant goodwill and intangible assets, which account for a major portion of total assets, with key assumptions for impairment testing remaining stable[104]. - The group has a diversified customer base, reducing the concentration of credit risk, as it only engages with reputable third parties[109]. - The management team has over 30 years of experience in the dental industry, contributing to the company's strategic planning and operational management[125]. - The company is committed to maintaining high standards of corporate governance through its independent board members[130]. - The board of directors includes experienced professionals with extensive backgrounds in dental and corporate governance, ensuring effective oversight and strategic direction[142]. Shareholder Information and Dividends - The company proposed a final dividend of HKD 0.092 per share for the year ended December 31, 2024, up from HKD 0.090 in 2023, pending shareholder approval[26]. - The company reported a mid-term dividend of HKD 0.08 per share for the six months ending June 30, 2024, an increase from HKD 0.06 for the same period in 2023[150]. - As of December 31, 2024, the company's distributable reserves were approximately HKD 320.27 million, down from HKD 397.84 million in 2023[158]. - The company will hold its annual general meeting on May 29, 2025, with a cutoff for share transfer registration from May 26 to May 29, 2025[151]. Risks and Challenges - Geopolitical risks and trade disputes are noted as factors that could complicate the global economic outlook, affecting the group's operations and supply chain[103]. - The group faces various foreign exchange risks, particularly with currencies such as RMB, EUR, AUD, and USD, and actively monitors these risks to maintain them at acceptable levels[108]. - The budgeted sales growth rate for 2024 is projected to be between 0% to 10%, consistent with the previous year[104].

我是现代雅科的首席财务官关亦杰感谢大家今天参加今天的业绩分享会然后我见时间也差不多了可能我就现在就开始吧然后因为通常都会有些投资人对现代雅科不太熟悉 那我就可能简单先夸个几分钟去讲一下现代牙科的那个投资亮点然后我们现代牙科其实是在牙科行业里面的主要的业务是在那个益齿这个领域里面的就益齿这一块它有产品就有一个特点它是一个基本上是定制化的一个产品来的 然后整个流转也是非常快的然后在这个行业里面我们服务的客户其实就是牙医牙科诊所那些客户全都是一些专业医疗人员然后就是我们的客户了简单说打个比方如果病人掉了牙 他去看的是牙医然后牙医就会建议他一个疗程然后如果有需要做回一个疫诊的时候他牙医通常就会找我们这些疫诊服务商去帮忙把这个疫诊做好给到他们然后他们服务那个病人大概整个逻辑就是这样子然后这个行业呢我们是这个行业的全球里面的其中一家领导公司 然后基本上这个行业里面只有现代雅科能做到跨地域性的一个领导公司出来然后我们现在的业务基本上是48%的收入是从欧洲区的然后另外四分之一左右是在北美包括了加拿大跟美国然后另外22%左右就是大中华地区然后剩下的就是 澳大利亚跟新西兰占了另外的应该大概8%左右然后新加坡还有一些就是我们在开发 ...

Group 1 - The core viewpoint of the article highlights Modern Dental's financial performance for the year ending December 31, 2024, with a revenue of HKD 3.364 billion, a year-on-year increase of 6.05%, and a net profit attributable to shareholders of HKD 408 million, reflecting a growth of 0.97% [1] - The company plans to enhance its product offerings and market coverage through the acquisition of Thailand's largest dental laboratory, Hexa Ceram Company Limited, expected to be completed in January 2025 [1] - Modern Dental is actively involved in the integration of the dental prosthetics industry, with full operations at its factories in Vietnam and Dongguan, aiming to capitalize on global digitalization trends [1] Group 2 - The ongoing global digitalization trend is driving the integration of the dental prosthetics industry, allowing the company to increase its market share and improve customer and patient experiences, setting it apart from competitors [1] - The company's sales growth indicates robust operational and financial performance across its markets, demonstrating its ability to deliver strong financial results amid a stable operating environment characterized by increasing order volumes and competitive positioning [1] - The company possesses significant advantages in the current uncertain macroeconomic environment, with onshore production capabilities in the U.S. and production facilities in Southeast Asia, which help mitigate tariff-related risks while seizing opportunities [2]

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue was approximately HKD 3,364,018,000, representing an increase of about 6.1% compared to HKD 3,172,048,000 in 2023[5] - The gross profit for the same period was approximately HKD 1,798,871,000, reflecting a growth of about 5.8% from HKD 1,700,693,000 in 2023, with a gross margin of approximately 53.5%[5] - The company's EBITDA for the fiscal year was approximately HKD 708,796,000, an increase of about 2.1% from HKD 694,471,000 in 2023[5] - Adjusted EBITDA for the fiscal year was approximately HKD 741,481,000, which is an increase of about 6.9% compared to HKD 693,899,000 in 2023[6] - The net profit for the fiscal year was approximately HKD 406,943,000, showing a growth of about 1.2% from HKD 402,177,000 in 2023[5] - The total revenue for the year ended December 31, 2024, was HKD 3,364,018,000, representing a 6.05% increase from HKD 3,172,048,000 in 2023[14] - Gross profit for the same period was HKD 1,798,871,000, up from HKD 1,700,693,000, indicating a growth of 5.78%[14] - The net profit for the year was HKD 406,943,000, slightly increasing from HKD 402,177,000, which is a 1.91% rise[14] - Basic and diluted earnings per share for the company were both HKD 0.432, compared to HKD 0.424 in the previous year, reflecting a 1.89% increase[14] Market Performance - Revenue from the European market increased by 16.1%, while the North American market (excluding MicroDental) saw an increase of approximately 8.7%[12] - Revenue from the European market for the year ended December 31, 2024, was approximately HKD 1,618,436,000, an increase of about HKD 219,065,000 from the previous year, representing 48.1% of total revenue[72] - North American market revenue for the year ended December 31, 2024, was approximately HKD 752,083,000, a decrease of about HKD 1,532,000 from the previous year, accounting for 22.3% of total revenue[73] - Revenue from the Greater China market for the year ended December 31, 2024, was approximately HKD 662,210,000, a decrease of about HKD 51,382,000 from the previous year, representing 19.7% of total revenue[76] - The Australian market recorded revenue of approximately HKD 264,752,000 for the year ended December 31, 2024, an increase of about HKD 10,411,000 from the previous year, accounting for 7.9% of total revenue[77] Acquisitions and Investments - The company acquired Thailand's largest dental laboratory, Hexa Ceram Company Limited, in January 2025, which is expected to enhance its product offerings and market coverage[3] - The company plans to acquire 74% equity in Hexa Ceram Company Limited for a cash consideration of approximately THB 938,959,000 (about HKD 214,102,000), expected to complete in January 2025[55] - The company plans to acquire 25% of Hexa Ceram Company Limited for a total consideration of THB 326,216,000 (approximately HKD 74,384,000)[108] - The company also intends to purchase 49% of Hexa Ceram Company Limited for THB 612,743,000 (approximately HKD 139,718,000)[109] Production and Operations - The company produced approximately 769,564 digital solutions cases in mainland China and Vietnam, a significant increase of 36.0% from approximately 565,891 cases in 2023, driven by greater adoption of intraoral scanners[7] - The company maintained onshore production capabilities in the U.S. and production facilities in Southeast Asia, which mitigated tariff-related risks and leveraged opportunities[4] - The company has established a new production facility in Vietnam to mitigate risks associated with its existing production bases in Shenzhen and Dongguan[118] Financial Position - Non-current assets totaled HKD 2,326,274,000, a decrease from HKD 2,381,523,000 in 2023, representing a decline of 2.32%[16] - Current assets increased to HKD 1,748,581,000 from HKD 1,571,324,000, marking an increase of 11.27%[16] - The company's total liabilities were HKD 1,349,281,000, compared to HKD 1,309,746,000 in 2023, indicating a rise of 2.99%[17] - The net asset value increased to HKD 2,725,574,000 from HKD 2,643,101,000, reflecting a growth of 3.11%[17] - The debt ratio improved to approximately 14% in 2024 from 16% in 2023, indicating a stable financial position[103] Dividends - The board proposed a final dividend of HKD 0.092 per share for the fiscal year, up from HKD 0.090 per share in 2023, pending shareholder approval[6] - The interim dividend for 2024 is proposed at HKD 0.08 per share, up from HKD 0.06 per share in 2023, totaling HKD 75,752,000[41] - The proposed final dividend for 2024 is HKD 0.092 per share, compared to HKD 0.09 per share in 2023, amounting to HKD 86,855,000[42] Employee and Operational Costs - The total employee cost for the fiscal year ending December 31, 2024, was approximately HKD 1,532,248,000, an increase from HKD 1,439,045,000 in 2023[123] - The company employed a total of 7,106 full-time employees as of December 31, 2024, compared to 7,035 in 2023[123] Risks and Challenges - The company faces various business risks, including global economic fluctuations and geopolitical risks, which may significantly impact its financial condition and operating performance[115] - The company has not established any interest rate agreements or derivative transactions to hedge against interest rate fluctuations[119] Corporate Governance - The company has complied with the corporate governance code as per the listing rules for the year ending December 31, 2024[133] - The audit committee reviewed the group's financial performance and accounting principles for the year ending December 31, 2024[135] - The annual results announcement will be published on the Hong Kong Stock Exchange and the company's website[137]

Financial Performance - For the six months ended June 30, 2024, the revenue was approximately HKD 1,701,831,000, an increase of about HKD 100,279,000 or 6.3% compared to HKD 1,601,552,000 for the same period in 2023[20]. - The gross profit margin for the six months ended June 30, 2024, was approximately 53.7%, down from 54.2% in the same period of 2023, with gross profit increasing by approximately HKD 46,672,000 or 5.4% to HKD 913,991,000[20]. - The EBITDA for the six months ended June 30, 2024, was approximately HKD 375,571,000, reflecting an increase of about HKD 5,817,000 or 1.6% compared to HKD 369,754,000 for the same period in 2023[20]. - The net profit for the six months ended June 30, 2024, was approximately HKD 214,355,000, an increase of about HKD 4,079,000 or 1.9% compared to HKD 210,276,000 for the same period in 2023[20]. - The adjusted EBITDA for the six months ended June 30, 2024, was approximately HKD 388,584,000, an increase of about HKD 18,698,000 or 5.1% compared to HKD 369,886,000 for the same period in 2023[20]. - The core business profit for the six months ended June 30, 2024, was approximately HKD 225,549,000, an increase of about HKD 15,141,000 or 7.2% compared to HKD 210,408,000 for the same period in 2023[21]. - The basic earnings per share for the six months ended June 30, 2024, were HKD 0.2259, compared to HKD 0.2213 for the same period in 2023[21]. - The board declared an interim dividend of HKD 0.08 per ordinary share for the six months ended June 30, 2024, up from HKD 0.06 for the same period in 2023[21]. Revenue Breakdown - Revenue from fixed dental appliances reached approximately HKD 1,045,387,000, an increase of about HKD 31,127,000 compared to the same period in 2023, accounting for 66.1% of total revenue[29]. - Revenue from removable dental appliances was approximately HKD 393,546,000, an increase of about HKD 42,970,000 compared to the same period in 2023, representing 24.9% of total revenue[30]. - Revenue from other customized appliances was approximately HKD 143,622,000, an increase of about HKD 4,368,000 compared to the same period in 2023, representing 9.0% of total revenue[31]. - Revenue from the European market was approximately HKD 822,914,000, an increase of about HKD 112,869,000 compared to the same period in 2023, accounting for 48.4% of total revenue[40]. - North America generated revenue of approximately HKD 385,325,000, a decrease of about HKD 8,331,000 compared to the six months ended June 30, 2023, accounting for approximately 22.6% of total group revenue[42]. - Greater China market revenue was approximately HKD 335,752,000, a decrease of about HKD 15,451,000 compared to the six months ended June 30, 2023, representing about 19.7% of total group revenue[43]. - Australia market revenue was approximately HKD 127,902,000, an increase of about HKD 3,645,000 compared to the six months ended June 30, 2023, accounting for about 7.5% of total group revenue[44]. Market Trends and Strategies - The company continues to enhance its market position through digital transformation and expansion of production facilities in Vietnam and Dongguan[19]. - The company continues to focus on digitalization trends in the dental industry to capture market share and enhance customer satisfaction[40]. - The company aims to establish a new business unit in Vietnam to serve mid-to-large dental clinic chains in North America[42]. - The company plans to strengthen its position in the Greater China market by promoting advanced innovative solutions and expanding its product portfolio[43]. - The company is focused on strategic opportunities such as acquisitions and partnerships to enhance its global leadership position in the dental market[44]. Cost and Expenses - Sales and distribution expenses increased by approximately 14.7% to HKD 230,896,000, accounting for 13.6% of total revenue, up from 12.6% in the prior year[50]. - Administrative expenses rose by 0.7% to HKD 378,833,000, representing 22.3% of total revenue, down from 23.5% in the previous year[52]. - Other operating expenses surged by 568.8% to HKD 9,283,000, primarily due to asset write-offs and foreign exchange losses[53]. - Financing costs increased by 23.7% to HKD 25,706,000, accounting for 1.5% of total revenue, compared to 1.3% in the prior year[54]. Cash Flow and Investments - Cash flow from operating activities was HKD 210,840,000, slightly down from HKD 214,283,000 in the same period last year[65]. - Cash outflow from investing activities increased to HKD 93,477,000, primarily due to expansion costs for production facilities in Vietnam[66]. - The group's capital expenditure for the review period was approximately HKD 98,145,000, primarily for factory construction and equipment upgrades[68]. - Investment in cutting-edge technology machinery for 2024 amounted to approximately HKD 45,591,000, compared to HKD 12,963,000 for the six months ended June 30, 2023[68]. - Research and development costs incurred were approximately HKD 25,415,000, representing 4.2% of the group's revenue, up from 2.4% for the six months ended June 30, 2023[68]. Financial Position - As of June 30, 2024, the group's bank borrowings were approximately HKD 701,844,000, an increase from HKD 676,191,000 as of December 31, 2023[68]. - The debt ratio as of June 30, 2024, was approximately 15%, down from 16% as of December 31, 2023, indicating a stable financial position[68]. - The company’s total assets less current liabilities amounted to HKD 3,445,818 as of June 30, 2024, compared to HKD 3,397,873 as of December 31, 2023[114]. - The company’s total liabilities decreased from HKD 754,772,000 to HKD 733,557,000, a reduction of 2.8%[115]. - The company’s retained earnings increased to HKD 2,098,879,000 as of June 30, 2024, compared to HKD 1,883,746,000, an increase of 11.4%[116]. Shareholder Information - The board declared an interim dividend of HKD 75,752,000, which is an increase of 32.3% from HKD 57,299,000 in the same period last year[141]. - The company repurchased 2,121,000 shares at a total cost of approximately HKD 8,542,000 (before expenses) during the six months ended June 30, 2024[106]. - The company has a stock option plan that allows for the issuance of up to 100 million shares, representing 10.6% of the issued share capital as of the interim report date[89]. - The company has no arrangements that allow directors to benefit from purchasing shares or debt securities of the company or any other entity during the six months ended June 30, 2024[101]. Related Party Transactions - The company has multiple lease agreements with related parties, ensuring transactions are based on comparable market prices[169]. - The company’s related party transactions include agreements with shareholders and directors, ensuring compliance with relevant regulations[170]. - The company maintains transparency in its related party transactions by adhering to public pricing and conditions provided to major clients[170]. Compliance and Governance - The board approved the interim condensed consolidated financial statements on August 29, 2024[185]. - The company has no significant subsequent events as of the financial statement date[185].

Financial Performance - For the six months ended June 30, 2024, the revenue was approximately HKD 1,701,831,000, an increase of about HKD 100,279,000 or 6.3% compared to HKD 1,601,552,000 for the same period in 2023[2]. - The gross profit for the same period was approximately HKD 913,991,000, reflecting an increase of about HKD 46,672,000 or 5.4% from HKD 867,319,000 in the previous year, with a gross margin of 53.7%[2]. - The EBITDA for the six months ended June 30, 2024, was approximately HKD 375,571,000, an increase of about HKD 5,817,000 or 1.6% compared to HKD 369,754,000 in the prior year[2]. - The adjusted EBITDA for the same period was approximately HKD 388,584,000, representing an increase of about HKD 18,698,000 or 5.1% from HKD 369,886,000 in 2023[2]. - The net profit for the six months ended June 30, 2024, was approximately HKD 214,355,000, an increase of about HKD 4,079,000 or 1.9% compared to HKD 210,276,000 in the previous year[2]. - Basic and diluted earnings per share for the period were both HKD 0.2259, compared to HKD 0.2213 in the same period of 2023, marking an increase of 2.1%[7]. - The company declared an interim dividend of HKD 0.08 per share for the six months ended June 30, 2024, compared to HKD 0.06 per share for the same period in 2023[2]. Market Performance - The European market accounted for 48.4% of the total revenue, with sales growth of 16.2% compared to the previous year[2]. - Revenue from the European market was HKD 822,914,000, up from HKD 710,045,000 in the previous year, indicating a growth of approximately 15.8%[17]. - The North American market generated revenue of HKD 385,325,000, a slight decrease from HKD 393,656,000 in the previous year[17]. - Revenue from the Greater China market was approximately HKD 335,752,000, a decrease of about HKD 15,451,000 compared to the six months ended June 30, 2023, accounting for 19.7% of total group revenue[53]. - The Australian market recorded revenue of approximately HKD 127,902,000, an increase of about HKD 3,645,000 compared to the six months ended June 30, 2023, representing 7.5% of total group revenue[55]. Operational Highlights - The core business profit for the six months ended June 30, 2024, was approximately HKD 225,549,000, an increase of about HKD 15,141,000 or 7.2% from HKD 210,408,000 in the previous year[2]. - For the six months ended June 30, 2024, the group produced approximately 602,485 digital solution cases in mainland China, representing a 61.1% increase from approximately 373,985 cases in the same period of 2023[5]. - The fixed dental equipment segment generated revenue of HKD 1,045,387,000, with a gross profit of HKD 584,174,000, showing a slight increase from HKD 572,769,000 in the previous year[16]. - The removable dental equipment segment recorded revenue of approximately HKD 393,546,000, representing about 24.9% of total revenue, an increase of approximately HKD 42,970,000 compared to the previous period[40]. - The other custom equipment segment, which includes orthodontic devices, generated revenue of approximately HKD 143,622,000, accounting for about 9.0% of total revenue, with a year-on-year increase of approximately HKD 4,368,000[41]. Investments and Expansion - The company has made investments in production facilities in Vietnam and Dongguan to strengthen its market positioning[1]. - The company aims to establish a new business unit in Vietnam to serve mid to large dental clinic chains in the North American market[50]. - Investment in production facilities in Dongguan Phase II and Vietnam is expected to enhance R&D capabilities and improve production solutions[58]. - The company has established a large production facility in Vietnam to mitigate risks associated with its production bases in Shenzhen and Dongguan, China[82]. Financial Position - Trade receivables increased to HKD 658,725 as of June 30, 2024, from HKD 590,220 as of December 31, 2023, reflecting a growth of 11.6%[9]. - Total assets less current liabilities amounted to HKD 3,445,818 as of June 30, 2024, compared to HKD 3,397,873 as of December 31, 2023, showing an increase of 1.4%[10]. - Non-current liabilities decreased to HKD 733,557 as of June 30, 2024, from HKD 754,772 as of December 31, 2023, a reduction of 2.8%[10]. - The total bank borrowings as of June 30, 2024, amounted to HKD 701,844,000, compared to HKD 676,191,000 as of December 31, 2023, reflecting an increase of about 3.8%[34]. - The company's debt ratio was approximately 15% as of June 30, 2024, down from 16% as of December 31, 2023, indicating a stable financial condition[76]. Employee and Governance - The company employed a total of 7,182 full-time employees as of June 30, 2024, an increase from 7,035 employees as of December 31, 2023[86]. - Total employee costs for the six months ended June 30, 2024, amounted to approximately HKD 786,274,000, compared to HKD 725,358,000 for the same period in 2023, reflecting an increase of about 8.4%[87]. - The company maintained stable relationships with employees during the review period, with no significant strikes or labor disputes affecting business operations[87]. - The company has complied with the corporate governance code as per the listing rules during the six months ended June 30, 2024[94]. - The audit committee reviewed the interim results for the six months ended June 30, 2024, ensuring adherence to accounting principles and practices[95].

Financial Performance - The company reported record high revenue of HKD 3,172 million, EBITDA of HKD 694 million, and net profit of HKD 402 million for the year ending December 31, 2023[9]. - For the year ended December 31, 2023, the revenue was approximately HKD 3,172,048,000, an increase of about 12.1% compared to HKD 2,830,088,000 in 2022[14]. - The gross profit margin for the year ended December 31, 2023, was approximately 53.6%, up from 48.9% in 2022, with gross profit increasing by about 22.9% to HKD 1,700,693,000[15]. - The EBITDA for the year ended December 31, 2023, was approximately HKD 694,471,000, representing a significant increase of about 49.9% from HKD 463,351,000 in 2022[15]. - The net profit for the year ended December 31, 2023, was approximately HKD 402,177,000, an increase of about 82.4% compared to HKD 220,549,000 in 2022[15]. - The net profit margin for the year ended December 31, 2023, was 12.7%, compared to 7.8% in 2022, reflecting a significant improvement in profitability[15]. - The company reported a significant increase in total comprehensive income, amounting to HKD 428,748 thousand, a substantial rise from HKD 52,661 thousand in 2022[191]. - The company reported a pre-tax profit of HKD 509,588,000 for 2023, an increase of 75.7% compared to HKD 290,146,000 in 2022[199]. Market Performance - The European market contributed 44.1% to the company's total revenue, making it the largest market for the company[10]. - The sales revenue from fixed dental prosthetics was approximately HKD 1,985,044,000, accounting for about 66.6% of total revenue, with an increase of approximately HKD 181,578,000 from the previous year[20]. - The sales revenue from removable dental prosthetics was approximately HKD 712,962,000, representing about 23.9% of total revenue, with an increase of approximately HKD 177,871,000 from the previous year[21]. - The North American market recorded revenue of approximately HKD 753,615,000, an increase of about HKD 44,298,000, representing 23.8% of total revenue, with a growth rate of 6.2%[30]. - The Greater China market achieved revenue of approximately HKD 713,592,000, an increase of about HKD 46,933,000, accounting for 22.5% of total revenue, despite a 4.3% depreciation of RMB against HKD[31]. - The Australian market reported revenue of approximately HKD 254,341,000, an increase of about HKD 18,530,000, representing 8.0% of total revenue, with a decline of 4.4% in AUD against HKD[32]. Strategic Initiatives - The company aims to strengthen its global leadership through strategic partnerships, acquisitions, and joint ventures[10]. - The company plans to allocate more resources to the North American market to unlock its full potential[10]. - The company is investing in production facilities in Dongguan and Vietnam to enhance overall production capacity[10]. - The company plans to establish a new business unit in Vietnam to serve mid to large dental clinic chains in North America[30]. - The company aims to strengthen its market position in Greater China by promoting advanced innovative solutions and expanding its product range[31]. - The company is positioned to capitalize on the digitalization trend in the dental industry, enhancing its digital solutions and expanding its product offerings[29]. Sustainability and Corporate Responsibility - The company is committed to sustainable practices, aiming to reduce energy consumption and waste in its manufacturing processes[10]. - The overall strategy includes a commitment to sustainability, with plans to reduce carbon emissions by 40% by 2026[70]. - The company is committed to social responsibility and sustainable growth, actively participating in community activities[135]. Employee and Governance - The company emphasizes the importance of employee health and safety, promoting fair labor practices and diversity[10]. - The company employed a total of 7,035 full-time employees as of December 31, 2023, compared to 6,830 in 2022, with total employee costs amounting to approximately HKD 1,439,045,000 for the year[64]. - The board of directors includes 5 executive directors and 4 independent non-executive directors, with terms renewed for three years starting from December 15, 2022, for executive directors[97]. - The company has established a share option scheme allowing for the issuance of shares up to 30% of the issued share capital, with a maximum of 100 million shares (10.5% of issued share capital) available for options as of the report date[101]. Risk Management - The company faces various business risks, including global economic fluctuations and geopolitical risks, which may significantly impact its financial condition and operating performance[57]. - The company continues to monitor foreign exchange risks closely, particularly with currencies such as RMB, EUR, AUD, and USD[62]. - The company has established procedures for identifying, assessing, and managing significant risks, ensuring regular monitoring and reporting to the board[164]. Financial Position - As of December 31, 2023, the group’s cash and cash equivalents amounted to approximately HKD 697,694,000, compared to HKD 444,377,000 as of December 31, 2022[47]. - The debt ratio as of December 31, 2023, was approximately 16%, a decrease from 22% in 2022, indicating a stronger financial position[54]. - The company’s retained earnings reached HKD 1,888,746,000 as of December 31, 2023, up from HKD 1,539,524,000 in 2022, marking an increase of around 22.7%[197]. - The total equity attributable to the owners of the company was HKD 2,632,279,000 in 2023, compared to HKD 2,319,952,000 in 2022, which is an increase of approximately 13.5%[194].