Financial Performance - Revenue increased by 7.5% to HKD 718.1 million[2] - Profit after tax rose by 10.4% to HKD 166.4 million; adjusted profit increased by 27.1% excluding government subsidies[2] - Basic earnings per share increased by 9.1% to HKD 0.132[2] - Operating profit for the six months ended September 30, 2023, was HKD 201.9 million, compared to HKD 187.0 million in the previous year[4] - Total revenue for the six months ended September 30, 2023, was HKD 718,149,000, representing an increase of 7.5% compared to HKD 668,300,000 for the same period in 2022[17] - Revenue from Hong Kong was HKD 549,616,000, up 11.6% from HKD 492,426,000 in the previous year[17] - Revenue from regions outside Hong Kong was HKD 168,533,000, down 4.3% from HKD 175,874,000 in the previous year[17] - The EBITDA increased by 5.4% to HKD 242.1 million, with an EBITDA margin of 33.7%[54] - The operating profit grew by 8.0% to HKD 201.9 million, maintaining an operating profit margin of 28.1%[54] - The medical beauty segment contributed approximately 80.7% to total revenue, up from 76.7% in the previous year[50] Dividends and Shareholder Returns - Proposed interim and special dividends of HKD 0.132 and HKD 0.010 per share, totaling a dividend payout of HKD 0.142 with a payout ratio of 107.6%[2] - The company proposed a final dividend of HKD 12.3 per share, totaling HKD 154,513,000, along with a special dividend of HKD 4.7 per share, totaling HKD 59,041,000 for the six months ended September 30, 2023[25] - The board has proposed an interim dividend of HKD 0.132 per share and a special dividend of HKD 0.01 per share, to be paid on December 29, 2023[69] - The company will suspend the registration of share transfers on December 11, 2023, to facilitate the payment of the interim dividend[71] Cash Flow and Assets - Cash generated from operating activities was HKD 288.0 million, down from HKD 298.8 million in the previous year[8] - Total assets as of September 30, 2023, amounted to HKD 1,239.7 million, a decrease from HKD 1,296.3 million[7] - Cash and cash equivalents at the end of the period were HKD 624.5 million, up from HKD 439.2 million at the beginning of the period[8] - The company's cash and cash equivalents as of September 30, 2023, amounted to HKD 624,514,000, an increase of 42% from HKD 439,193,000 as of March 31, 2023[33] - Operating cash flow for the period was HKD 288.0 million, compared to HKD 298.8 million in the same period last year[63] Expenses and Liabilities - Employee benefits expenses increased by 3.3% to HKD 238.1 million, in line with revenue growth[53] - The total current tax expense for the six months ended September 30, 2023, was HKD 35,754,000, an increase of 26% from HKD 28,384,000 in the same period of 2022[22] - Trade payables as of September 30, 2023, amounted to HKD 1,049,000, compared to HKD 838,000 as of March 31, 2023, representing an increase of approximately 25.2%[40] Strategic Developments - The company operates primarily in Hong Kong, China, Macau, Australia, and Singapore, providing medical and health services[9] - The company plans to adopt new accounting standards that may affect its financial reporting starting January 1, 2024[13] - The company is focusing on adapting its business operations to meet changing consumer demands amid ongoing economic uncertainties in mainland China[46] - The company plans to accelerate expansion in Hong Kong through a dual model of large stores and community shops, aiming to strengthen its market leadership in the region[68] - The company is preparing for international expansion, leveraging its experience in Australia and Singapore while maintaining a cautious approach to business development[68] Market and Economic Context - Management discussed the ongoing economic recovery post-pandemic, highlighting improvements in consumer activity in Hong Kong, although spending has not yet returned to pre-pandemic levels[46] - The company anticipates an increase in cross-border customers due to the rebound in visitor numbers to Hong Kong, further solidifying its position as a leading medical beauty service center in the Greater Bay Area[68] - The group is cautiously optimistic about future operations, maintaining a core strategy of "healthcare + medical beauty" to meet consumer needs[67] Shareholder Information - As of September 30, 2023, Dr. Ouyang Jiang holds a beneficial interest in 114,834,747 shares and a controlled corporation interest in 827,169,021 shares, representing 74.98% of the company[73] - Sure Sino Investments Limited holds 36.59% of the total issued shares, with 459,739,481 shares[79] - The total number of shares outstanding as of September 30, 2023, is 1,256,197,771[80] Corporate Governance - The company has adopted the standard code of conduct for securities transactions as per the Hong Kong Stock Exchange rules, with all directors confirming compliance[70] - The audit committee consists of three independent non-executive directors, ensuring compliance with financial reporting standards[87] - The remuneration committee includes three independent non-executive directors and three executive directors, overseeing compensation policies[89] - The nomination committee is responsible for recommending director appointments and assessing board diversity[90] - The company is committed to good corporate governance practices and has adhered to all relevant codes during the reporting period[85]
完美医疗(01830) - 2024 - 中期业绩