Financial Performance - Total revenue reached HKD 648.4 million, an increase of 24.6% compared to the previous period[4] - Comprehensive profit attributable to equity holders surged to HKD 130.5 million, a significant increase of 128.5%[4] - For the fiscal year 2024, the group's gross profit reached HKD 338.1 million, an increase of 64.5% from fiscal year 2023[19] - The attributable consolidated profit for equity holders in fiscal year 2024 was HKD 130.5 million, representing a remarkable growth of 128.5% compared to fiscal year 2023[19] - Profit attributable to equity holders increased by HKD 130.5 million or 128.5% for the fiscal year 2023 to 2024, driven primarily by increased operating profit[36] - Revenue from the health supplement segment grew significantly by 97.8% for the fiscal year 2024, mainly due to sales from two recently acquired health supplement brands[57] Market Growth and Strategy - The health care products segment witnessed notable growth, reflecting a positive response to post-pandemic market recovery[9] - The company aims to expand its presence in key markets across Asia and Greater China, leveraging the growing demand for health care products[10] - The group aims to expand its product portfolio in the health supplement market to increase revenue, targeting the evolving health needs of the general public[26] - The brand pharmaceutical segment experienced a substantial growth of 53.3% from fiscal year 2023 to fiscal year 2024, attributed to the resurgence of consumer demand and inbound tourism[29] - The group plans to leverage the recovery of visitor numbers between Hong Kong, Macau, and mainland China to capture retail market opportunities[25] - The company is committed to enhancing operational capabilities and expanding sales platforms and regional presence to drive growth[28] Corporate Governance and Board Structure - The board of directors oversees the company's strategic development and sets the group's goals, strategies, and policies[81] - All directors, including independent non-executive directors, contribute valuable business experience and expertise to ensure effective board operations[82] - The audit committee has reviewed the group's annual performance during the reporting period[88] - The audit committee held two meetings during the reporting period to review the independence and objectivity of external auditors[112] - The remuneration committee conducted four meetings to review the remuneration of all directors and assess the effectiveness of the committee[92] - The company organized a training session on the impact of artificial intelligence on the pharmaceutical industry, attended by all directors[85] - The board has established committees, including the audit committee, remuneration committee, and nomination committee, to supervise specific aspects of corporate governance[109] Risk Management - The company has updated its risk management policies, including risk assessment standards and identification of top risks annually[158] - The company has established a risk management framework based on a "three lines of defense" model, ensuring effective risk management and internal control systems[184] - The risk management function, composed of the Vice President of Finance and the Finance Manager, oversees the overall risk management framework and provides advice to the audit committee and board[187] - The company employs a mixed approach to risk identification, categorizing risks into financial, operational, reputational, legal and regulatory, and personnel risks[177] - Identified risks are assessed using a 3x3 risk matrix, with ratings based on the likelihood and impact of occurrence[177] Gender Diversity and Inclusion - The board of directors achieved gender diversity with 12.50% female representation after appointing Dr. Zheng Xiangjun as an executive director, effective March 9, 2024[117] - The company has a gender diversity policy with 75.00% female representation in senior management and 57.19% across all employees[120] - The nomination committee held two meetings during the reporting period to review the board's structure and diversity policy[140] - The company emphasizes the importance of gender diversity across all levels, including the board and senior management[142] - The board's diversity policy includes a goal of having at least 75% of members with over 5 years of experience in their respective fields[142] Community Engagement and Health Initiatives - The company is committed to promoting preventive health care through community outreach and education initiatives, aligning with government health programs[11] - The company plans to launch a patient care program through the Hong Kong Breast Cancer Foundation starting April 2024, allowing eligible registered patients to reimburse testing costs[53] Financial Management - The company has maintained a conservative capital management approach, ensuring a robust capital structure and financial strength for future business development and acquisitions[38] - Bank loans decreased from HKD 155.0 million as of March 31, 2023, to HKD 115.0 million as of March 31, 2024, due to partial repayment of bank loans[66] - Total assets decreased by 1.0% to HKD 1,388,697,000 as of March 31, 2023[197] - Total liabilities decreased by 1.4% to HKD 366,753,000 as of March 31, 2023[197] - Total equity decreased by 0.9% to HKD 1,021,944,000 as of March 31, 2023[197]
健倍苗苗(02161) - 2024 - 年度财报