时代天使(06699) - 2024 - 年度业绩

Financial Performance - Revenue rose by 28.2% to approximately $268.8 million for the year ending December 31, 2024, up from about$209.6 million for the year ending December 31, 2023[4] - Gross profit increased by 28.7% to approximately $168.2 million for the year ending December 31, 2024, with a gross margin of approximately 62.6$10.0 million for the year ending December 31, 2024, compared to about $6.8 million for the year ending December 31, 2023[5] - Revenue from markets outside of China surged by 290.4$80.5 million for the year ending December 31, 2024, accounting for 30.0% of total revenue[4] - The adjusted net profit for the year ending December 31, 2024, was approximately $26.9 million, compared to about$26.1 million for the year ending December 31, 2023[5] - The company's revenue for the year ended December 31, 2024, was $268.79 million, an increase from$209.62 million in 2023, representing a growth of approximately 28.2%[58] - The gross profit margin improved to 62.6% in 2024 from 62.4% in 2023, while the net profit margin increased to 3.7% from 3.3%[50] - Adjusted net profit for 2024 was $26.86 million, compared to$26.11 million in 2023, reflecting a year-over-year increase of about 2.9%[56] - The company reported an adjusted EBITDA of $37.74 million for 2024, up from$26.26 million in 2023, indicating a growth of approximately 43.8%[56] Operational Highlights - The total number of completed cases for invisible orthodontics increased by 46.7% to approximately 359,400 cases for the year ending December 31, 2024, compared to about 245,000 cases for the year ending December 31, 2023[4] - The number of completed cases in markets outside of China increased by 326.4% to approximately 140,700 cases for the year ending December 31, 2024[4] - The company has adopted a strategy of "global organization + localized operation," expanding its business presence in over 50 countries[6] - The company launched the "Angel Aligner Education" app and received recognition for its innovative technology at major orthodontic conferences[8] - The launch of the "KiD Max" and "KiD防齲版" product lines expands the children's product matrix, addressing oral health issues for children and adolescents[11] Expenses and Investments - R&D investment reached approximately $21.3 million in 2024, accounting for 7.9$78.9 million for the year ended December 31, 2023, to approximately $100.6 million for the year ended December 31, 2024, primarily due to global business expansion[20] - Sales and marketing expenses increased by 49.9$70.1 million for the year ended December 31, 2023, to approximately $105.0 million for the year ending December 31, 2024, primarily due to global business expansion outside of China[22] - Administrative expenses rose by 16.2$39.8 million for the year ended December 31, 2023, to approximately $46.2 million for the year ending December 31, 2024, reflecting improved operational efficiency as the growth rate was lower than revenue growth[23] - Research and development expenses decreased from approximately$24.6 million for the year ended December 31, 2023, to approximately $21.3 million for the year ending December 31, 2024[24] Cash Flow and Financial Position - Cash and cash equivalents and term deposits totaled approximately$339.1 million as of December 31, 2024, down from approximately $379.7 million as of December 31, 2023[34] - The current ratio decreased to 3.8 in 2024 from 4.2 in 2023, indicating a slight decline in liquidity[50] - The company reported a net financial income of$5.46 million for 2024, down from $12.44 million in 2023, reflecting a decrease of approximately 56.1$3.95 million, compared to $4.21 million in 2023, showing a decline of about 6.4$197.87 million in 2024, up from $190.47 million in 2023, an increase of 3.67$28.46 million in 2024, compared to $26.31 million in 2023[66] Shareholder Information - The company plans to pay a special final dividend of HKD 0.38 per share for the year ending December 31, 2024[5] - The annual general meeting is scheduled for May 23, 2025, to discuss various corporate matters including the proposed dividend[131] - A special final dividend eligibility period will also see share registration suspended from May 29 to June 2, 2025[133] - The company expresses gratitude to oral doctors, patients, business partners, employees, and shareholders for their continued support and dedication[142] Corporate Governance and Compliance - The company has adopted corporate governance practices in compliance with the relevant codes and regulations[127] - The audit committee, consisting of three independent non-executive directors, has reviewed the group's annual performance for the year ending December 31, 2024, and recommended approval to the board[135]