Financial Performance - Revenue increased by 2.9% to HKD 1,389.3 million[2] - Profit before interest, tax, depreciation, and amortization (EBITDA) rose by 2.7% to HKD 482.3 million[2] - Net profit increased by 3.4% to HKD 315.6 million, with a 9.5% increase in the second half of the fiscal year compared to the first half[2] - Operating cash flow increased by 9.1% to HKD 560.6 million[2] - Basic earnings per share rose by 2.0% to HKD 0.253[2] - Profit before tax for the year 2023 was HKD 391,456 thousand, compared to HKD 378,153 thousand in 2022, reflecting an increase of about 3.5%[15] - The company's profit attributable to equity holders increased from HKD 305,245,000 in 2022 to HKD 315,638,000 in 2023, an increase of approximately 3.9%[31] - The total tax expense for 2023 was HKD 75,818,000, compared to HKD 72,908,000 in 2022, reflecting an increase of about 3.9%[28] - The weighted average applicable tax rate for 2023 was 17.5%, slightly down from 18.2% in 2022[29] Dividends - Proposed final and special dividends are HKD 0.123 and HKD 0.047 per share, totaling HKD 0.170 per share, with an annual dividend of HKD 0.300 and a payout ratio of 118.6%[2] - The group has maintained a dividend payout ratio of at least 100% for eight consecutive years[2] - The proposed final dividend per share for 2023 is 12.3 HKD cents, up from 7.1 HKD cents in 2022, indicating an increase of approximately 73.2%[33] - The company plans to issue a special dividend of 4.7 HKD cents per share for 2023, which was not offered in 2022[35] - The company proposed a total dividend of HKD 30.0 cents per share, representing a payout ratio of 118.6%[52] Assets and Equity - Total assets increased to HKD 1,296.3 million from HKD 1,281.2 million year-on-year[6] - Total equity rose to HKD 612.3 million from HKD 494.3 million year-on-year[7] - Total non-current assets as of 2023 were HKD 446,513 thousand, down from HKD 606,233 thousand in 2022, indicating a decrease of approximately 26.4%[16] - The company's right-of-use assets decreased to HKD 231,573 thousand as of March 31, 2023, from HKD 302,411 thousand in 2022, representing a decline of approximately 23.4%[23] - The company's property usage rights asset decreased from HKD 302,411,000 in 2022 to HKD 231,573,000 in 2023, representing a decline of approximately 23.4%[24] Employee Expenses - Employee benefits expenses totaled HKD 470,570 thousand in 2023, up from HKD 412,677 thousand in 2022, marking an increase of around 14.0%[17] - The company’s employee salaries and wages increased to HKD 429,289 thousand in 2023 from HKD 377,920 thousand in 2022, reflecting an increase of about 13.5%[17] - The group employed a total of 1,317 employees as of March 31, 2023, down from 1,414 in the previous fiscal year[65] Revenue Breakdown - The company’s revenue from Hong Kong was HKD 1,040,119 thousand in 2023, compared to HKD 975,146 thousand in 2022, showing an increase of about 6.7%[14] - The company’s revenue from regions outside Hong Kong was HKD 349,142 thousand in 2023, down from HKD 374,825 thousand in 2022, indicating a decrease of approximately 6.9%[14] - Revenue from Hong Kong rose by 6.7% to HKD 1,040.1 million, while revenue from outside Hong Kong decreased by 6.9% to HKD 349.2 million[47] Cash Flow and Financing - The group reported a net cash inflow from operating activities of HKD 560.6 million, an increase from HKD 513.9 million in the previous fiscal year[60] - The company reported a net finance cost of HKD (4,608) thousand in 2023, a significant improvement from HKD (14,349) thousand in 2022[21] - The company’s capital expenditures for 2023 were HKD 20,151 thousand, a decrease from HKD 165,578 thousand in 2022, representing a decline of approximately 87.8%[16] Business Expansion and Strategy - The company expanded its business footprint by opening one new store in Hong Kong and three new stores in strategic locations in mainland China during the year[44] - The company adopted a cautious approach to business expansion in response to the volatile operating environment, focusing on strategic investments[44] - The group plans to further enhance market penetration in Hong Kong through various store formats[68] - The group aims to replicate its efficient business model in the Greater Bay Area and East China regions for future expansion[68] - Strong performance in Singapore and Australia has bolstered the group's confidence in expanding into other overseas markets[68] Accounts Receivable - Accounts receivable increased significantly to HKD 49,741,000 in 2023 from HKD 14,841,000 in 2022, representing a growth of 234%[36] - The aging analysis of accounts receivable shows that HKD 42,966,000 (86.4%) is within 60 days, compared to HKD 4,499,000 (30.3%) in 2022[37] - As of March 31, 2023, overdue accounts receivable amounted to HKD 2,998,000, up from HKD 914,000 in 2022, indicating a significant increase in overdue amounts[38] - The company has maintained a stable credit quality for accounts receivable, with no impairments reported for both 2023 and 2022[40] Corporate Governance - The company has complied with the corporate governance code as per the listing rules, although the roles of Chairman and CEO are held by the same individual, Dr. Ouyang Jiang[75] - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the year ending March 31, 2023, ensuring compliance with accounting standards and internal controls[78] - The company’s auditor, PwC, confirmed that the figures in the preliminary announcement align with the audited financial statements for the year ending March 31, 2023[79] - The annual report for the fiscal year ending March 31, 2023, will be sent to shareholders and is available on the company's website[80]
完美医疗(01830) - 2023 - 年度业绩