Compliance and Governance - The company has adopted the standard rules for securities trading as per the listing rules, confirming compliance by all directors during the reporting period[1]. - The company is committed to adhering to corporate governance standards as outlined in the listing rules[9]. - The audit committee has reviewed the consolidated financial statements for the fiscal year 2024[4]. - The auditors have compared the preliminary announcement figures with the draft financial statements and found them consistent[5]. - The company emphasizes strong corporate governance principles to enhance transparency and accountability, which are crucial for its success and sustainable development[156]. Financial Performance - Total revenue for 2024 reached HKD 4,211,034, an increase of 8.7% from HKD 3,875,377 in 2023[43]. - Medical services revenue was HKD 2,631,947, up from HKD 2,542,167, reflecting a growth of 3.5%[43]. - The company reported a net profit of HKD 15.7 million, a significant decrease of 85.3% from HKD 107.0 million in the previous year[57]. - The company's profit before tax for the year 2024 was HKD 177,073,000, compared to HKD 137,204,000 in 2023, representing a year-over-year increase of approximately 29.0%[49]. - The company reported a net loss attributable to equity shareholders of HKD 18,947,000 for 2024, compared to a profit of HKD 69,654,000 in 2023[52]. Revenue and Sales Growth - Total sales for the year 2024 reached HKD 107,087,000, an increase from HKD 86,891,000 in 2023, representing a growth of approximately 23.5%[32]. - The geographical revenue from Hong Kong was HKD 3,961,934, an increase of 10.7% from HKD 3,577,659 in 2023[42]. - Aesthetic medical services and wellness revenue grew by 18.8% to HKD 1,309.4 million, compared to HKD 1,101.9 million in the prior year[57]. - The veterinary and other services segment's revenue increased by 16.6% to HKD 270 million, supported by growth in the veterinary market share in Hong Kong[108]. Assets and Liabilities - Total assets increased to HKD 5,513,330 in 2024 from HKD 5,373,054 in 2023, representing a growth of 2.6%[43]. - The company reported a total liability of HKD 3,142,385, up from HKD 2,970,283, indicating an increase of 5.8%[43]. - Cash and cash equivalents, including bank deposits, totaled HKD 553,625,000 in 2024, down from HKD 709,859,000 in 2023, indicating a decrease of about 22.0%[38]. - The asset-liability ratio stands at 38.4%, with total interest-bearing liabilities of HKD 920.7 million as of March 31, 2024[138]. Strategic Focus and Future Plans - The company plans to focus on expanding its aesthetic medical services and exploring new market opportunities in the upcoming fiscal year[57]. - The company is focusing on strategic acquisitions to enhance its service offerings and market reach in the coming years[88]. - The company aims to build a leading one-stop healthcare platform in Asia, focusing on innovation, efficiency, and sustainability to create long-term value for shareholders[126]. - The company plans to optimize its asset portfolio by disposing of non-core and underperforming assets, redeploying capital into new investments with better growth prospects[122]. Operational Efficiency and Cost Management - The company is enhancing operational efficiency by focusing on talent productivity, asset utilization, process efficiency, and cost control[113]. - The group expects significant improvement in recurring costs in future fiscal periods due to cost-saving measures that saved approximately HKD 100 million during the reporting period[103]. - The company has faced challenges in meeting original financial expectations, prompting a reassessment of its overall strategic development and risk management[128]. Employee and Training Initiatives - The company has completed mandatory internal training for employees providing medical and traditional beauty services, enhancing service quality[30]. - The group reduced its total workforce by 209 to 2,611 employees and optimized rental space, resulting in a reduction of 102,000 square feet of service area[103]. Acquisitions and Investments - The company has made significant investments, including the acquisition of 100% equity in Active Compass Limited and智凱國際有限公司 for HKD 115,000,000[141]. - The company has acquired a total of 42.88% equity in New Asia, which primarily engages in providing medical laboratory testing and distributing medical laboratory equipment and devices[143]. - The acquisition of Success Synergy Limited and Berqi Limited will allow the company to gain an additional 12.38% equity in New Asia, bringing its total ownership to approximately 55.26%[145]. Market Conditions and Economic Outlook - The group maintains a cautious optimism regarding the local economy, with the Hong Kong medical market showing resilience and a year-on-year growth of approximately 21.5% to HKD 243 billion in 2022[109]. - The company is committed to building a comprehensive healthcare ecosystem in line with the TTIPP strategy, aiming to provide high-quality customer service[118].
医思健康(02138) - 2024 - 年度业绩