Financial Performance - The Group's revenue for the six months ended September 30, 2019, was approximately HK$90.5 million, an increase of approximately HK$16.7 million or 22.6% compared to HK$73.8 million for the same period in 2018[9]. - Profit attributable to the owners of the Company for the same period was approximately HK$11.5 million, remaining unchanged from the corresponding period in 2018[9]. - Other income for the six months ended September 30, 2019, was HK$1.96 million, compared to HK$1.07 million in the same period of 2018[11]. - Profit before tax for the period was HK$14.04 million, compared to HK$13.79 million for the same period in 2018[11]. - Earnings per share for the period were HK2.88 cents, slightly up from HK2.86 cents in the same period of 2018[11]. - The Group's total comprehensive income for the period attributable to owners was HK$11.54 million, compared to HK$11.45 million in the previous year[11]. - The total tax charge for the period was HK$2,499,000, compared to HK$2,341,000 in 2018, representing a 6.8% increase[102]. - Profit for the Period Under Review remained stable at HK$11.5 million, unchanged from 2018[183]. Revenue Breakdown - Revenue from treatment services reached HK$77,766,000, up from HK$67,238,000, reflecting a growth of 15.5% year-over-year[73]. - Revenue from skin care products was HK$5,552,000, an increase from HK$4,410,000 in the previous year[73]. - Medical consultation services generated revenue of HK$114,000, a slight decrease from HK$130,000 in the prior year[73]. - Revenue from unutilized prepaid packages was HK$6,356,000, significantly up from HK$1,168,000[73]. - Revenue from medical aesthetic services accounted for HK$84,122,000, up from HK$68,406,000, marking a 23% increase year-over-year[77]. - Revenue from the sale of skin care products increased to HK$5,552,000 in 2019 from HK$4,410,000 in 2018, a growth of 25.8%[77]. Expenses and Costs - Staff costs increased to HK$36.98 million for the six months ended September 30, 2019, from HK$25.02 million in the previous year[11]. - The Group's cost of inventories and consumables for the period was HK$8.78 million, an increase from HK$7.66 million in the same period of 2018[11]. - The Group's employee benefit expenses, excluding directors' remuneration, increased to HK$34,408,000 from HK$23,541,000, a rise of 46%[95]. - The minimum lease payments under operating leases decreased significantly to HK$212,000 in 2019 from HK$8,319,000 in 2018[95]. Assets and Liabilities - As of September 30, 2019, total non-current assets increased to HK$111,942,000 from HK$60,530,000 as of March 31, 2019, representing an increase of 84.7%[15]. - Current assets totaled HK$235,742,000, up from HK$220,895,000, reflecting a growth of 6.5%[15]. - Total liabilities increased to HK$191,473,000 from HK$139,699,000, marking a rise of 37.1%[18]. - The company's net assets reached HK$156,211,000, up from HK$141,726,000, which is an increase of 10.2%[18]. - Cash and cash equivalents rose to HK$137,438,000 from HK$119,197,000, showing an increase of 15.3%[15]. - Trade receivables decreased to HK$12,599,000 from HK$26,000,000, a decline of 51.5%[15]. - Trade payables as of September 30, 2019, were HK$718,000, down from HK$1,316,000 as of March 31, 2019, reflecting a decrease of 45.5%[133]. Cash Flow - Cash generated from operations increased to HK$32,487,000, compared to HK$22,637,000 in the same period last year, reflecting a growth of 43.5%[24]. - Net cash flows from operating activities amounted to HK$31,897,000, up from HK$23,765,000 in 2018, indicating a year-over-year increase of 34.2%[24]. - Total cash flows used in investing activities were HK$17,683,000, a decrease from HK$54,871,000 in the previous year, showing a reduction of 67.8%[29]. - Cash and cash equivalents at the end of the period were HK$17,882,000, down from HK$46,803,000 at the end of the previous period, representing a decrease of 61.8%[29]. Leasing and Compliance - The Group adopted HKFRS 16 using the modified retrospective method with an initial application date of April 1, 2019, impacting the recognition of leases[12]. - Lease liabilities were reported at HK$15,204,000, indicating the company has adopted new leasing standards[15]. - The Group has elected not to recognize right-of-use assets and lease liabilities for leases of low-value assets and short-term leases with a term of 12 months or less[35]. - The Group applies a single approach to recognize and measure right-of-use assets and lease liabilities for all leases, except for two elective exemptions[35]. - Comparative information for 2018/19 was not restated and continues to be reported under HKAS 17[12]. Strategic Developments - Miricor successfully transferred its listing from the GEM to the Main Board of The Stock Exchange of Hong Kong Limited on 18 February 2019, enhancing its corporate image and financial flexibility[184]. - The Group has launched a new brand "VITAE by CosMax" aimed at balancing beauty and health, which is expected to widen its customer base and serve as a new growth driver[190]. - The Group recently introduced a new skincare product line "XOVE-", utilizing a patented active ingredient "W-TruComplex" for anti-aging effects[191]. - Future strategies include strengthening product offerings and services, enhancing marketing campaigns, and exploring potential expansion opportunities to solidify market leadership[199]. - The Group aims to continue providing top-notch, non-surgical aesthetic services while maximizing profitability and generating favorable returns for shareholders[199].
卓珈控股(01827) - 2020 - 中期财报