Revenue and Profitability - Total revenue for the six months ended June 30, 2023, was HKD 346.4 million, representing a 9.7% increase compared to HKD 315.6 million in the same period of 2022[11] - Revenue from refractive laser surgery accounted for 34.3% of total revenue, with a year-on-year decline of 13.3% to HKD 116.9 million, primarily due to a decrease in the number of procedures in Germany[6] - The company recorded a gross profit of HKD 167.6 million for the six months ended June 30, 2023, reflecting a gross margin of 48.4%, up from 45.2% in the same period of 2022[11] - Profit for the period increased by 56.7% to HKD 68,111 thousand, compared to HKD 43,467 thousand in the previous year[128] - Adjusted net profit after tax was HKD 70,483 thousand, reflecting a 31.7% increase from HKD 53,537 thousand in 2022[128] - The company reported a profit attributable to owners of HKD 67,476,000 for the six months ended June 30, 2023, compared to HKD 46,528,000 for the same period in 2022, representing a year-over-year increase of 44.8%[138] - The total comprehensive income attributable to owners for the period was HKD 101,501,000, a significant recovery from a loss of HKD 34,974,000 in the previous year[138] Financial Position - The company had cash and cash equivalents of approximately HKD 782.6 million as of June 30, 2023[21] - Total assets as of June 30, 2023, amounted to HKD 1,670,185 thousand, an increase from HKD 1,541,040 thousand at the end of 2022[134] - Total liabilities as of June 30, 2023, were HKD 546,729 thousand, up from HKD 497,947 thousand at the end of 2022[135] - The company's current asset-to-liability ratio is approximately 5.2 times, slightly up from 5.1 times at the end of 2022[40] - The company’s retained earnings increased to HKD 350,810 thousand as of June 30, 2023, up from HKD 304,488 thousand at the start of the year[167] Expenses and Costs - Employee benefit expenses increased by 19.4% to HKD 80.2 million, driven by the transition to full-time contracts for doctors[10] - Sales expenses for the six months ended June 30, 2023, were approximately HKD 34.6 million, an increase of 18.8% compared to the previous year, representing 10% of total revenue[13] - The company incurred a foreign exchange loss related to global offering proceeds of HKD (288,000), contrasting with a gain of HKD 1,496,000 in the previous year[154] - The company’s financial expenses increased to HKD 14,105,000 from HKD 5,507,000, indicating a rise of 156.5%[163] Acquisitions and Expansion - The company completed the acquisition of FreeVis LASIK Zentrum Mannheim GmbH on August 17, 2023, for a total consideration of EUR 8.4 million (approximately HKD 72.5 million), with a maximum consideration of approximately EUR 12.5 million (approximately HKD 107.9 million) subject to adjustments[2] - The acquisition of FreeVis GmbH and PMK is expected to enhance the company's market position in Germany and provide comprehensive ophthalmic services, contributing to a net profit of €1.236 million (approximately HKD 10.2 million) last year, accounting for 12.2% of the company's net profit[45] - The company plans to establish clinics in major cities in China, with an expected allocation of HKD 264.3 million by December 31, 2025[25] - The company continues to seek suitable acquisition targets for private ophthalmic clinics in Europe to expand its network and enhance its market position[48] Corporate Governance and Compliance - The company has adopted a restricted share award plan effective from March 19, 2020, to attract and retain employees[75] - The board has implemented corporate governance measures in line with the corporate governance code[78] - The group reported unaudited consolidated results for the six months ended June 30, 2023, in compliance with the Hong Kong Stock Exchange listing rules[95] - The audit report confirms that the interim financial data complies with the relevant provisions of the Hong Kong Stock Exchange and International Accounting Standard 34[92] Market Outlook and Strategy - The company remains optimistic about its business in Europe, mainland China, and the UK, anticipating improvements in economic data for the remainder of 2023[27] - In the UK, the company expects a 50% increase in surgical capacity in the second half of 2023 due to the addition of two surgeons and a new clinic opening in August[29] - The company anticipates a strong demand for presbyopia treatment in mainland China, with an expected increase in surgical volume in the second half of 2023[46] - The company aims to increase marketing efforts with an expected allocation of HKD 112.3 million by December 31, 2025[25] Shareholder Information - The company declared an interim dividend of HKD 0.0511 per share, totaling approximately HKD 17.03 million, compared to no dividend in the same period last year[51] - As of June 30, 2023, the total number of issued shares of the company is 333,240,000[71] - Susanne Jørgensen holds 181,833,100 shares, representing approximately 54.57% of the total share capital[71] - During the six months ended June 30, 2023, a total of 375,368 shares were granted under the restricted share award plan[76]
德视佳(01846) - 2023 - 中期业绩