Revenue and Profit Growth - Revenue for the first half of 2021 reached HKD 319,678,000, a 69.3% increase compared to HKD 188,833,000 in the same period of 2020[10]. - Gross profit for the first half of 2021 was HKD 159,825,000, reflecting a 111.4% increase from HKD 75,620,000 in the first half of 2020[10]. - Adjusted net profit for the first half of 2021 was HKD 74,575,000, a significant increase of 345.5% compared to HKD 16,738,000 in the first half of 2020[10][11]. - The company reported a period profit of HKD 65,578,000, which is a 293.2% increase from HKD 16,679,000 in the same period last year[10]. - Operating profit increased significantly to HKD 96,922,000, compared to HKD 27,567,000 in the previous year, marking a growth of 251.5%[29]. - Net profit for the period was HKD 65,578,000, a substantial rise of 292.5% from HKD 16,679,000 in 2020[31]. - Total comprehensive income for the period was HKD 38,077,000, compared to HKD 15,073,000 in 2020, representing a growth of 152.5%[31]. Financial Position and Assets - The total assets of the company as of June 30, 2021, amounted to HKD 1,366,511,000, an increase from HKD 1,314,181,000 as of December 31, 2020, representing a growth of approximately 4%[24]. - Current assets increased to HKD 952,309,000 from HKD 897,730,000, reflecting a rise of about 6%[24]. - The company's cash and cash equivalents reached HKD 832,715,000, up from HKD 761,894,000, indicating an increase of approximately 9%[24]. - Total equity attributable to the owners of the company rose to HKD 987,552,000 from HKD 953,292,000, marking an increase of around 4%[24]. - Non-current liabilities totaled HKD 204,994,000, compared to HKD 198,032,000, showing a growth of about 3%[26]. - The company reported a decrease in inventory from HKD 36,243,000 to HKD 28,922,000, a decline of approximately 20%[24]. - The retained earnings increased significantly from HKD 124,744,000 to HKD 179,850,000, representing a growth of about 44%[24]. Cash Flow and Liquidity - Operating cash flow for the six months ended June 30, 2021, was HKD 156,909,000, a significant increase from HKD 54,782,000 in the same period of 2020, representing a growth of 186%[37]. - Net cash generated from operating activities reached HKD 143,592,000, compared to HKD 5,313,000 in the prior year, indicating a substantial improvement[37]. - Cash flow from investing activities showed a net outflow of HKD 16,567,000, up from HKD 8,741,000 in the previous year, reflecting increased investment in property, plant, and equipment[37]. - Cash flow from financing activities resulted in a net outflow of HKD 37,143,000, a decrease from HKD 86,970,000 in the same period last year, indicating reduced dividend payments and share repurchases[37]. - The company reported a significant reduction in tax paid, amounting to HKD 13,485,000 for the current period, compared to HKD 51,787,000 in the previous year, reflecting improved cash flow management[37]. Segment Performance - The German segment generated revenue of HKD 202.777 million, the Chinese segment contributed HKD 76.718 million, and the Danish segment added HKD 41.390 million for the six months ended June 30, 2021[70]. - Revenue from Germany for the same period was approximately HKD 201.6 million, an increase of about 55.7% from 2020 and 55.1% from 2019, accounting for approximately 63.1% of total revenue[153]. - Revenue from China reached approximately HKD 76.7 million, up about 110.6% from 2020 and 45.9% from 2019, representing approximately 24.0% of total revenue[155]. - Revenue from Denmark was approximately HKD 41.4 million, an increase of about 80.4% from 2020 and 74.9% from 2019, accounting for approximately 12.9% of total revenue[154]. Expenses and Cost Management - Employee benefits expenses increased to HKD 79,300,000 for the six months ended June 30, 2021, up 53.5% from HKD 51,688,000 in the same period of 2020[8]. - Total expenses rose to HKD 224,187,000, representing a 38.3% increase compared to HKD 161,907,000 for the six months ended June 30, 2020[8]. - The largest component of cost of revenue was employee benefits, accounting for 17.0% of total revenue, down from 18.8% in 2020[169]. - Administrative expenses increased by 42.5% to approximately HKD 37.6 million, mainly due to increased share-based compensation payments[179]. Future Plans and Expansion - The company plans to continue expanding its market presence in China with additional clinic openings in the future[10]. - The company plans to open 10 satellite clinics within two years to enhance the utilization of existing surgical centers[193]. - A new clinic is planned to open in Wiesbaden, Germany, in early 2022, complementing the flagship clinic in Frankfurt[195]. - Construction of a new clinic in Chengdu, China, is underway, expected to open in early 2022[196]. - The company is actively seeking to acquire high-quality refractive surgery clinics in Europe, although expansion has been impacted by the COVID-19 pandemic[197].
德视佳(01846) - 2021 - 中期财报