Financial Performance - The company's revenue for the fiscal year 2023 reached HKD 714.3 million, representing a 17.0% increase compared to the previous year[127]. - EBITDA for the fiscal year was approximately HKD 280.9 million, marking a year-on-year increase of about 31.5%[128]. - Net profit attributable to shareholders was approximately HKD 131.2 million, an increase of 46.7% compared to the previous fiscal year[129]. - The company achieved a gross profit of HKD 335.5 million, with a gross margin of 47.0%[112]. - Adjusted net profit after tax was HKD 141.7 million, with an adjusted net profit margin of 19.8%[112]. - Total assets increased to HKD 1,753.6 million, up from HKD 1,541.0 million in the previous year[112]. - Total liabilities rose to HKD 588.1 million, compared to HKD 497.9 million in the previous year[112]. - The company’s equity attributable to shareholders increased to HKD 1,134.8 million, up from HKD 1,014.3 million[112]. - Basic earnings per share for the year were HKD 39.544, compared to HKD 26.958 in the previous year[112]. Operational Highlights - The company plans to focus on expanding its services in the fields of myopia and presbyopia treatments, leveraging its established operational model[124]. - The company opened two flagship clinics in London and Hong Kong, with the Hong Kong clinic expected to start performing surgeries after obtaining a medical center license[132]. - The company completed the acquisition of FreeVis LASIK Zentrum Mannheim GmbH, expanding its operations in Germany and retaining top talent like Professor Knorz[131]. - The company plans to open two new clinics in Germany and additional satellite clinics in China in 2024 to meet future demand[132]. - The company plans to actively seek suitable acquisition targets to enhance organic growth over the next two to three years[155]. - The company’s unique global clinic network helps mitigate regional risks, providing resilience against economic uncertainties in various operating regions[163]. Market Performance - Revenue from the Chinese market grew by 46.3% year-on-year to HKD 144.0 million, only HKD 5 million short of the record set in 2021[130]. - In Germany, the company achieved a 13.5% year-on-year revenue growth, reaching HKD 380.9 million, accounting for 53.3% of total revenue[146]. - In Denmark, revenue increased by 35.0% year-on-year to HKD 87.9 million, with over 90% coming from resilient lens replacement surgeries[147]. - In China, total revenue grew by 46.3% year-on-year to HKD 144.0 million, with lens replacement surgery revenue surging 83.0% to HKD 72.7 million[150]. - The same-store revenue growth for existing clinics was 16.2%, with an EBITDA growth rate of 38.8%[144]. Stock Option and Share Award Plans - The stock option plan adopted on September 23, 2019, allows for the issuance of up to 31,733,400 shares (approximately 10%) as of the fiscal year ending December 31, 2023[23]. - The stock option plan aims to encourage qualified individuals to contribute to the group's performance and growth, and it will be effective for ten years from the adoption date[24]. - The total number of shares available for issuance under the share option plan is 31,733,400 shares, accounting for approximately 9.5% of the total issued shares[61]. - The restricted share award plan aims to attract skilled personnel and incentivize participants to contribute to the company's future development and expansion[63]. - The restricted share award plan has a validity period of 10 years from the adoption date, with approximately 6 years remaining[56]. - A total of 375,368 shares were granted under the restricted share award plan during the year ended December 31, 2023[74]. Employee and Management Information - The company has a total of 379 full-time employees as of December 31, 2023, and also employs several external surgeons and senior management members[18]. - The company maintains a competitive compensation policy for its employees, regularly reviewing and improving its employment practices[20]. - The company is committed to providing a harmonious work environment and offers competitive remuneration and training opportunities for its employees[3]. - The company has not been aware of any significant violations of employee-related laws and regulations that would have a major impact on its operations[18]. - No bonuses were paid to directors or the five highest-paid individuals during the reporting period[83]. Risks and Challenges - The company faces risks from macroeconomic factors that could impact demand for vision correction services[88]. - The business may be affected by price fluctuations in lenses, consumables, equipment, and labor costs, which could lead to adjustments in service pricing[91]. - The company emphasizes the importance of its brand and reputation, facing risks from potential claims due to treatment errors or service defects[92]. Environmental and Compliance Efforts - The company has implemented several environmental protection measures to reduce energy resource consumption[94]. - Future environmental policies will be reviewed regularly to promote sustainability and compliance with relevant laws[95]. - The company has complied with all relevant laws and regulations in Germany, Denmark, the UK, China, the Cayman Islands, and Hong Kong during the reporting period[1]. Financial Position and Proceeds Utilization - The group had outstanding borrowings of approximately HKD 0.9 million as of December 31, 2023, up from HKD 0.3 million in 2022[187]. - The group’s cash and cash equivalents were approximately HKD 720.2 million as of December 31, 2023, primarily denominated in Euros[193]. - The total net proceeds amount to HKD 660,664, with HKD 289,349 utilized and HKD 371,315 remaining as of December 31, 2023[199].
德视佳(01846) - 2023 - 年度财报