Financial Performance - For the fiscal year ending March 31, 2023, total revenue reached HKD 520.3 million, representing a growth of 28.1% compared to the previous year[11]. - Adjusted EBITDA increased by 36.2%, while profit attributable to equity holders surged by 132.1%, indicating a strong operational performance[11]. - The brand healthcare business achieved a total revenue of HKD 520.3 million, reflecting a notable growth of 28.1%, with gross profit rising by 27.2% to HKD 205.5 million[30]. - The equity holders' share of consolidated profit surged by 132.1% to HKD 57.1 million, attributed to the gradual recovery of retail consumer sentiment and the easing of COVID-19 restrictions[30]. - Operating profit increased by HKD 48.1 million or 123.7% to HKD 87.0 million, mainly driven by an increase in gross profit and gains from the sale of a stake in a joint venture[51]. - The total comprehensive income for the year was HKD 52.9 million, compared to HKD 23.2 million in 2022[134]. - The basic and diluted earnings per share for the year were HKD 6.41 and HKD 6.41 respectively, compared to HKD 2.75 in the previous year[135]. Revenue Segmentation - The brand's Chinese medicine segment recorded a robust growth of 54.5%, driven by strong demand for concentrated Chinese medicine granules and significant sales increase of Baoji pills[17]. - The brand's pharmaceutical division experienced a slight decline of 7.7%, primarily due to decreased sales of AIM eye drops, offset by strong performance from e-commerce platforms[15]. - The health products division saw a minor decline of 6.2%, mainly due to reduced sales in the Hong Kong retail market, although this was partially mitigated by stable growth from Oncotype DX[19]. - The brand Chinese medicine segment accounted for 69% of total revenue, while the brand pharmaceutical and health supplement segments contributed 24% and 7%, respectively[27]. - Revenue from external customers in Hong Kong reached HKD 331,887,000, an increase of 16.6% from HKD 284,610,000 in the previous year[180]. - Revenue from mainland China surged to HKD 135,253,000, a significant increase of 121.1% from HKD 61,012,000 in the previous year[180]. Dividend and Shareholder Value - The proposed final dividend per share is HKD 2.5, following an interim dividend of HKD 0.5 per share, reflecting a commitment to returning value to shareholders[1]. - The board proposed a final dividend of HKD 0.025 per share, totaling approximately HKD 22.8 million, with a total dividend of HKD 0.030 per share for the fiscal year[129]. E-commerce and Market Strategy - The company plans to enhance brand awareness for Baoji pills through creative advertising and promotional strategies, focusing on gastrointestinal health issues[18]. - The company is expanding its local and cross-border e-commerce platforms to strengthen its competitive position in the Asian healthcare market[20]. - The cross-border e-commerce team achieved strong market share and customer base expansion through flagship stores on Tmall International and JD International[21]. - E-commerce sales in Hong Kong grew by 20.8% year-on-year in 2022, indicating rapid growth in online business, which is expected to continue due to the home economy trend[25]. - The company plans to leverage its strengths to explore new development opportunities, focusing on local and cross-border e-commerce platforms and adjusting product offerings to meet evolving consumer demands[33]. Cost Management and Financial Stability - The company maintains a strong financial position through strict cost management and a healthy cash balance, ensuring ongoing operational capability and future growth[35]. - Employee costs slightly increased by HKD 1.4 million or 5.0% from the previous fiscal year, while other production costs remained stable[50]. - The net capital debt ratio decreased from 10.9% as of March 31, 2022, to 0.3% as of March 31, 2023, due to increased cash generated from operations and repayment of bank loans[60]. - The company reported a net capital debt ratio, indicating stable financial leverage without significant foreign exchange risk[88]. Market Outlook and Challenges - The company is optimistic about market recovery as restrictions are eased, but remains cautious due to ongoing macroeconomic uncertainties[46]. - The company continues to face intense competition in the branded drug, health supplement, and branded traditional Chinese medicine markets[64]. Environmental and Governance Initiatives - The company has implemented measures to encourage environmental sustainability and energy conservation[95]. - The board noted progress in various environmental, social, and governance initiatives during the fiscal year 2023[200]. - The company aims to ensure that environmental, social, and governance considerations are integrated into its strategy[200]. Corporate Governance - The audit committee, composed of three independent non-executive directors, oversees the integrity and accuracy of the company's financial statements[99]. - The company has adhered to all corporate governance codes throughout the reporting period, ensuring shareholder rights and enhancing corporate value[97].
健倍苗苗(02161) - 2023 - 年度业绩