Financial Performance - The group's revenue for the year ended December 31, 2023, was approximately RMB 2,788.9 million, an increase of 18.0% compared to RMB 2,364.5 million for the year ended December 31, 2022[2]. - The group's net profit for the year ended December 31, 2023, was approximately RMB 347.0 million, representing a significant increase of 194.2% from RMB 117.9 million for the year ended December 31, 2022[2]. - The adjusted net profit under non-IFRS was approximately RMB 471.5 million, up 72.0% from RMB 274.1 million in the previous year[2]. - The non-IFRS EBITDA for the year ended December 31, 2023, was approximately RMB 706.1 million, an increase of 92.4% from RMB 367.0 million for the year ended December 31, 2022[2]. - The adjusted EBITDA under non-IFRS was approximately RMB 781.2 million, reflecting a 63.1% increase from RMB 479.1 million in the previous year[2]. - Basic earnings per share for the year ended December 31, 2023, were RMB 0.13, while the adjusted basic earnings per share under non-IFRS were RMB 0.18[2]. - The gross profit for the year was RMB 1,175.4 million, compared to RMB 874.3 million in the previous year[6]. - The total comprehensive income for the year was RMB 402.0 million, compared to RMB 447.6 million in the previous year[8]. - Pre-tax profit for 2023 was RMB 464,269,000, a substantial increase from RMB 154,324,000 in 2022, reflecting a growth of 201.5%[39]. - The group's income tax expense rose by 222.4% from approximately RMB 36.4 million for the year ended December 31, 2022, to approximately RMB 117.3 million for the year ended December 31, 2023, driven by increased pre-tax profits and improved operational efficiency[100]. Assets and Liabilities - Total assets decreased from RMB 13,328,163 thousand in 2022 to RMB 13,553,729 thousand in 2023, representing an increase of approximately 1.68%[9]. - Non-current assets increased from RMB 10,186,812 thousand in 2022 to RMB 10,091,423 thousand in 2023, reflecting a growth of about 5.16%[10]. - Current liabilities decreased significantly from RMB 2,763,971 thousand in 2022 to RMB 1,689,833 thousand in 2023, a reduction of approximately 38.93%[10]. - The total liabilities decreased from RMB 3,900,688,000 in 2022 to RMB 2,665,435,000 in 2023, indicating a reduction of approximately 31.6%[22]. - The company's net asset value increased from RMB 8,735,128 thousand in 2022 to RMB 10,186,812 thousand in 2023, marking a growth of around 16.56%[10]. - The total equity attributable to owners of the company increased from RMB 8,639,743 thousand in 2022 to RMB 10,091,423 thousand in 2023, reflecting an increase of approximately 16.83%[10]. - The company’s bank borrowings decreased from RMB 2,070,678 thousand in 2022 to RMB 1,379,664 thousand in 2023, a reduction of about 33.43%[10]. - The total current liabilities of accounts payable and other payables decreased to RMB 805,083,000 in 2023 from RMB 916,929,000 in 2022, a reduction of 12.1%[52]. Revenue Breakdown - Total revenue for the year ended December 31, 2023, was RMB 2,788,910,000, with RMB 2,218,608,000 from Greater China and RMB 570,302,000 from overseas[20]. - Revenue from assisted reproductive services increased to RMB 1,335,511,000 in 2023, up from RMB 1,053,776,000 in 2022, representing a growth of approximately 26.7%[28]. - Revenue from the US business increased by 22.7% from approximately RMB 462.4 million for the year ended December 31, 2022, to approximately RMB 567.5 million for the year ended December 31, 2023[90]. - Revenue from Chengdu business increased by 6.2% from approximately RMB 1,384.9 million for the year ended December 31, 2022, to approximately RMB 1,471 million for the year ended December 31, 2023[85]. - Revenue from Shenzhen business rose by 16.9% from approximately RMB 348.3 million for the year ended December 31, 2022, to approximately RMB 407.3 million for the year ended December 31, 2023[86]. - Wuhan business revenue surged by 124.6% from approximately RMB 17.0 million for the year ended December 31, 2022, to approximately RMB 38.2 million for the year ended December 31, 2023[87]. - Revenue from Kunming business increased by 154.8% from approximately RMB 92.4 million for the year ended December 31, 2022, to approximately RMB 235.5 million for the year ended December 31, 2023[88]. - Revenue from Hong Kong business grew by 12.3% from approximately RMB 59.5 million for the year ended December 31, 2022, to approximately RMB 66.8 million for the year ended December 31, 2023[89]. Operational Developments - The company has restructured its internal reporting framework, resulting in changes to its reportable segments, now classified as Greater China and overseas operations[19]. - The company’s overseas business has been rapidly developing, prompting management to designate two operational segments for better resource allocation and performance assessment[19]. - The company aims to create a comprehensive service model integrating IVF and obstetrics, enhancing operational efficiency and reducing costs[60]. - The company has implemented a digital platform and proprietary customer relationship management system across its medical facilities, improving patient management and appointment processes[57]. - The company is focusing on expanding its services to cover the entire life cycle of women's and children's health management[60]. - The company has successfully registered medical devices and drugs with the National Medical Products Administration, showcasing its high-quality clinical results and R&D capabilities[60]. - The company aims to expand its service offerings to include comprehensive fertility services and enhance synergies between assisted reproduction and maternal-child health services[71]. - The company has established partnerships with several universities to improve patient care and medical services, including collaborations with Hong Kong Chinese University and USC Keck School of Medicine[76]. Employee and Governance - The group has a total of 3,231 employees as of December 31, 2023, with employee costs amounting to approximately RMB 778.9 million, an increase from RMB 674.9 million in the previous year[123]. - The board has proposed a final dividend of HKD 0.0595 per share for the year ended December 31, 2023, compared to zero for the previous year[125]. - The group has established an audit and risk management committee to assist the board in monitoring compliance with applicable laws and regulations[129]. - The group has adopted corporate governance codes to enhance accountability and protect shareholder interests[127]. Future Outlook - The company anticipates a recovery in business growth in 2024, driven by strong demand for assisted reproductive technologies and supportive government policies[67]. - The overall market penetration of ARS in China remains relatively low compared to approximately 30% in Europe and the US, indicating significant growth potential[67]. - The company is actively seeking opportunities to expand its business network through acquisitions in high-growth potential markets in China and recruiting new doctors in the US, particularly in the West[74].
锦欣生殖(01951) - 2023 - 年度业绩