Financial Performance - The company reported a revenue of HKD 49.1 million for the fiscal year ending March 31, 2024, representing a 7.9% increase from HKD 45.5 million in the previous fiscal year[13]. - The company recorded a loss attributable to owners of HKD 3.0 million, a decrease of HKD 0.5 million or 13.8% compared to a loss of HKD 3.5 million for the fiscal year ending March 31, 2023[13]. - Basic loss per share for the year was HKD 0.77, a reduction of 13.5% from HKD 0.89 in the previous year[13]. - The company experienced over 20% revenue growth in the first half of the fiscal year, although this momentum slowed down later in the year[13]. - The company noted increased competition within the industry and rising operational costs[14]. - The company's revenue increased by HKD 3.6 million or 7.9% to HKD 49.1 million for the year ended March 31, 2024, compared to HKD 45.5 million for the previous year[24]. Operational Challenges - The company faced challenges due to a slowdown in the Chinese economy, high interest rates, and a stagnant local real estate and stock market[13]. - Consumer sentiment has become more cautious, impacting the company's industry negatively[13]. - Cost-saving measures and operational efficiency improvements have been implemented to address the challenges faced by the company[14]. - The management anticipates ongoing challenges due to adverse economic conditions but remains committed to adapting strategies to maintain service quality and market position[23]. Revenue Breakdown - Revenue from medical consultation services, prescription and dispensing services, and treatment services accounted for 2.3%, 19.2%, and 78.5% of total revenue, respectively[21]. Employee and Operational Costs - Employee costs increased by HKD 1.4 million or 6.2% to HKD 24.6 million for the year ended March 31, 2024, primarily due to increased salaries and performance bonuses[28]. - Other expenses increased from HKD 7.6 million for the year ending March 31, 2023, to HKD 9.0 million for the year ending March 31, 2024, representing an increase of HKD 1.4 million or 18.4%[31]. - The company has implemented cost-saving measures to improve operational efficiency amid rising operational costs and intense competition[18]. Financial Position - The total equity of the company as of March 31, 2024, was HKD 7.6 million, down from HKD 10.6 million as of March 31, 2023[35]. - The company had cash and bank balances of HKD 6.9 million as of March 31, 2024, compared to HKD 5.0 million as of March 31, 2023, with over 96% held in HKD[35]. - Operating cash generated for the year ending March 31, 2024, was HKD 11.0 million, up from HKD 4.3 million for the previous year[37]. - The company had no interest-bearing borrowings as of March 31, 2024, resulting in a debt-to-equity ratio of zero[35]. - The company has unused bank financing of HKD 18.0 million under the SME Financing Guarantee Scheme as of March 31, 2024[37]. Governance and Compliance - The company has maintained compliance with all relevant laws and regulations without any significant violations during the fiscal year ending March 31, 2024[63]. - The company has adopted the corporate governance code as per GEM Listing Rules Appendix C1 and has complied with it for the year ending March 31, 2024[114]. - The audit committee has reviewed the audited consolidated financial statements for the year ending March 31, 2024, ensuring compliance with applicable accounting standards and GEM listing rules[105]. - The company has established a shareholder communication policy to ensure timely and comprehensive information is provided to shareholders and investors, which is reviewed at least annually[165]. Sustainability and ESG - The environmental, social, and governance report covers the company's performance in these areas for the period from April 1, 2023, to March 31, 2024, focusing on its medical skin care services in Hong Kong[180]. - The company aims to integrate sustainability into its core business values and will continue to review progress based on environmental, social, and governance-related goals[189]. - The company has complied with the "comply or explain" provisions of the environmental, social, and governance reporting guidelines for the fiscal year ending March 31, 2024[190]. - The company conducted an annual materiality assessment to identify and understand stakeholders' main concerns regarding environmental, social, and governance issues[196]. Board and Management Structure - The board consists of four executive directors and three independent non-executive directors as of March 31, 2024[116]. - The company has established a remuneration committee to review and recommend compensation policies for directors and senior management based on performance and market comparisons[88]. - The company has appointed at least three independent non-executive directors as required by GEM listing rules, and established an audit committee with a majority of independent members[133]. - The company has a clear division of responsibilities between the board and management to maintain control over key decisions[119].
密迪斯肌(08307) - 2024 - 年度业绩