Financial Performance - The company reported a revenue of HKD 1,393.3 million for the fiscal year ending March 31, 2024, representing a 0.3% increase from HKD 1,389.3 million in the previous year[11]. - Operating profit decreased by 3.5% to HKD 382.4 million compared to HKD 396.1 million in the prior year[11]. - The profit attributable to equity holders was HKD 315.8 million, a slight increase of 0.1% from HKD 315.6 million in the previous year, with a net profit margin of 22.7%[11][16]. - The company reported a sales contract price of HKD 1,446.4 million, a year-on-year decrease of 0.3%, while revenue increased by 0.3% to HKD 1,393.3 million[29]. - The company’s revenue for the fiscal year 2024 reached HKD 1,393.3 million, a slight increase from HKD 1,389.3 million in the previous year, driven by a recovery in consumer spending and contributions from new stores in Hong Kong and mainland China[30]. - Revenue from Hong Kong operations increased by 4.0% to HKD 1,081.4 million, accounting for 77.6% of total revenue, compared to 74.9% in the previous year[38]. - Revenue from regions outside Hong Kong decreased by 10.7% year-on-year to HKD 311.9 million, accounting for 22.4% of total revenue[43]. - The company reported a total comprehensive income of HKD 271,861,000 for the year, down from HKD 300,585,000 in 2023, a decrease of 9.6%[173]. - The company incurred a net other comprehensive loss of HKD 38,538,000 for the year, compared to a loss of HKD 15,053,000 in the previous year[173]. Assets and Liabilities - Total assets as of March 31, 2024, were HKD 1,221.8 million, down from HKD 1,296.3 million in the previous year[9]. - The total liabilities increased to HKD 725.0 million from HKD 684.0 million in the previous year, indicating a rise in financial obligations[9]. - Total equity decreased to HKD 496,808,000 in 2024 from HKD 612,273,000 in 2023, a decline of 19%[175]. - Total liabilities increased to HKD 725,004,000 in 2024 from HKD 684,021,000 in 2023, representing a growth of 6.1%[176]. - The total equity and liabilities decreased to HKD 1,221,812,000 in 2024 from HKD 1,296,294,000 in 2023, a decline of 5.8%[176]. Store Expansion and Market Presence - The company opened 11 new stores in Hong Kong, including two flagship stores and nine community stores, to expand its market presence[18]. - The company opened a total of 11 new stores in Hong Kong, including 2 flagship stores and 9 community stores, to expand its market presence and enhance customer convenience[26]. - The company successfully opened four new stores in mainland China and Macau, contributing to revenue growth driven by post-pandemic consumer recovery[44]. - The company aims to enhance brand awareness and market share in the fragmented beauty market in mainland China through strategic store deployments[44]. Operational Efficiency and Strategy - The company aims to enhance operational efficiency and customer engagement through AI-driven marketing initiatives[15]. - The company is focused on enhancing operational efficiency and promoting innovation as part of its future growth strategy[24]. - The group plans to implement a "dual circulation" strategy to enhance growth and profitability in the medical and non-medical beauty services sectors[51]. - The group is strategically expanding into profitable new locations based on geographic data and consumer behavior analysis[52]. - The group aims to achieve sustainable growth through key initiatives focused on increasing revenue and profitability, including targeted marketing campaigns[54]. Dividends and Shareholder Returns - The company proposed a total dividend of HKD 31.5 cents per share for the year, representing a total payout ratio of 125.5%[36]. - The board proposed a final and special dividend of HKD 11.9 cents and HKD 5.4 cents per share, respectively, subject to shareholder approval[56]. - The total annual dividend for the year ending March 31, 2024, will amount to HKD 31.5 cents per share[56]. - The company paid dividends totaling HKD 391,934,000 in 2024, up from HKD 191,785,000 in 2023, indicating an increase of 104.5%[179]. Corporate Governance - The board consists of four executive directors and three independent non-executive directors as of March 31, 2024[71]. - Dr. Ouyang Jiang serves as both the Chairman and CEO, which the board believes provides strong and consistent leadership[69]. - The company has established an audit committee, remuneration committee, and nomination committee in compliance with corporate governance codes[69]. - The company has adhered to the corporate governance code for the year ending March 31, 2024, with one exception regarding the separation of roles between the Chairman and CEO[69]. - The company has a clear structure for delegating authority to management while retaining approval rights for significant strategic decisions[80]. Risk Management and Internal Controls - The company has implemented a risk management framework since 2016, following the COSO model to effectively manage various risks[102]. - The audit committee conducted an annual review of the risk management and internal control systems, confirming their effectiveness[100]. - The company has established internal controls for handling and disclosing inside information in compliance with regulations[101]. - The company’s risk management activities are continuously conducted by management, with at least one annual assessment of the effectiveness of the risk management framework[103]. Employee and Management Information - As of March 31, 2024, the group employed a total of 1,273 employees, a decrease from 1,317 employees as of March 31, 2023[50]. - The board emphasizes the importance of employee development and competitive compensation to retain high-quality staff[118]. - The company has established a share option plan, allowing participants to acquire equity, aligning their interests with the group's benefits[126]. Environmental and Social Responsibility - The company has deposited HKD 265.9 million in green deposits to support environmentally friendly projects, reflecting its commitment to sustainable development[49]. - The company has implemented environmental policies and measures to promote sustainability in its operations[117]. - The group emphasizes the importance of sustainable development and social responsibility in its operations[55]. Financial Reporting and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance[181]. - The company adopted new accounting standards without significant impact on its financial policies and statements[182]. - The company has changed its accounting policy regarding long service payments, which may lead to adjustments in past service costs[184]. - The company recognizes financial assets on the trade date, which is when the company commits to purchase or sell the asset[196].
完美医疗(01830) - 2024 - 年度财报