Financial Performance - Total revenue for the fiscal year ended March 31, 2023, was HKD 3,875.4 million, representing a 32.7% increase compared to HKD 2,919.5 million in the previous year[36]. - The company reported a net profit of HKD 107.0 million, a decrease of 60.4% from HKD 270.5 million in the previous year[36]. - Basic earnings per share decreased by 65.5% to HKD 5.9 from HKD 17.1 in the previous year[36]. - The group reported a strong internal growth rate of 24.1% across various business segments in the second half of fiscal year 2023[54]. - The total comprehensive income for the year was HKD 100,449,000, down from HKD 269,446,000 in the previous year, reflecting a significant decline[134]. - The company plans to distribute a final dividend of HKD 0.10 per share for the fiscal year, compared to HKD 0.144 per share in the previous year, indicating a reduction in shareholder returns[112]. Debt and Liquidity - Total debt increased from HKD 235.7 million as of March 31, 2022, to HKD 719.1 million as of March 31, 2023, due to increased borrowings for new service point startup costs and operational funding[5]. - The group has drawn down HKD 489.0 million in bank loans as of March 31, 2023, with an undrawn bank loan balance of HKD 220.0 million, ensuring sufficient liquidity for operational needs[8]. - The debt-to-equity ratio as of March 31, 2023, was 30.3%, up from 10.0% in the previous year[36]. - Total liabilities amounted to HKD 719.1 million, significantly higher than HKD 235.7 million in the previous year[36]. - The company reported a foreign exchange gain of HKD 1,229,000, contrasting with a loss of HKD 1,057,000 in the previous year, indicating improved currency management[134]. Revenue Segmentation - Medical segment revenue increased by 50.5% to HKD 2,542.2 million from HKD 1,689.0 million year-over-year[36]. - Revenue from completed acquisitions during the year amounted to HKD 154.1 million, representing 4.0% of total revenue[67]. - Revenue from the veterinary and other services segment increased by 66.0% year-on-year to HKD 231.3 million, primarily driven by growth in the veterinary business[70]. - The aesthetic medical, beauty, and wellness services segment's revenue increased by 1.0% to HKD 1,101.9 million, despite a decline in Hong Kong revenue due to pandemic impacts[69]. - The company’s revenue from Hong Kong was HKD 3,577,659, representing a 35.8% increase from HKD 2,632,960 in the previous year[152]. Operational Strategy - The group plans to implement cost control measures across supply chain, procurement, and administrative costs to manage rising expenses and improve profit margins[6]. - The focus on digitalization aims to enhance operational efficiency and patient experience while ensuring data privacy and security[15]. - The company aims to drive sales growth through new store openings and targeted marketing initiatives to attract and retain customers[6]. - The company is focusing on operational efficiency and cost reduction while maintaining investments in digital capabilities and talent[40]. - The company aims to create a more flexible and competitive organization to succeed in the rapidly changing healthcare industry[40]. Sustainability and Governance - The commitment to sustainable development is reflected in the group's business practices and partnerships, emphasizing its role as a leader in the healthcare sector[7]. - The group is committed to sustainability, integrating it into operations to create long-term value and reduce carbon footprint[62]. - The company emphasizes sustainable development as a key component of its business strategy, aiming to minimize environmental impact and promote social responsibility[45]. - The group has made significant progress in sustainable development, emphasizing environmental and social governance[84]. - The company emphasizes adherence to corporate governance principles, ensuring transparency and accountability in its operations[114]. Acquisitions and Growth - The group is committed to expanding its geographical coverage through strategic acquisitions, supported by the recent sustainability-linked financing[9]. - The company is committed to strategic acquisitions to drive external growth and enhance its healthcare ecosystem[44]. - The company executed acquisitions valued at HKD 175 million, covering multiple medical specialties, veterinary, and health screening services, increasing the number of registered specialist doctors to 313[73]. - The company acquired a 7.5% stake in Prime Inspire Limited for HKD 4,375,515, increasing its ownership from 70% to 77.5%[90]. - The acquisition of 60% equity in Pioneer Evolution Limited was completed for HKD 36,400,000, enhancing the company's investment portfolio[119].
医思健康(02138) - 2023 - 年度业绩