Financial Performance - The group's revenue for the fiscal year 2024 was approximately HKD 590.8 million, a decrease of about 41.0% compared to fiscal year 2023, primarily due to a reduction in revenue from COVID-19 related services by approximately HKD 509.0 million[1]. - The profit attributable to the company's owners for fiscal year 2024 was approximately HKD 24.2 million, a decrease of about HKD 156.6 million or 86.6% compared to fiscal year 2023[1]. - The basic earnings per share for fiscal year 2024 was approximately HKD 0.064, down from HKD 0.476 in fiscal year 2023[2]. - The total comprehensive income for the year was HKD 19.2 million, significantly lower than HKD 180.1 million in the previous year[2]. - The adjusted profit before tax for the group is HKD 26,564,000 in 2024, compared to HKD 238,816,000 in 2023, representing a decline of approximately 89%[13]. - The group reported a net profit of HKD 24,189,000 for 2024, a significant drop from HKD 180,839,000 in 2023, indicating a decline of around 87%[13]. - The income tax expense decreased from approximately HKD 58.0 million in FY2023 to about HKD 2.4 million in FY2024, resulting in a drop in the effective tax rate from approximately 24.3% to about 8.9%[41]. - Net profit for the year decreased from approximately HKD 180.8 million in FY2023 to about HKD 24.2 million in FY2024, with net profit margins of approximately 4.1% and 18.1% respectively[42]. Revenue Breakdown - The external customer revenue for the general medical services segment is HKD 398,388,000 in 2024, down from HKD 819,067,000 in 2023, indicating a decrease of about 51%[13]. - The revenue from primary healthcare services decreased by approximately HKD 420.7 million or 51.4% to about HKD 398.4 million in fiscal year 2024[33]. - The revenue from specialist medical services increased by approximately HKD 18.5 million or 16.1% to about HKD 134.0 million in fiscal year 2024[33]. - Comprehensive medical service revenue for 2024 was HKD 590,819,000, with general medical services contributing HKD 398,388,000 and specialist services contributing HKD 192,431,000[17]. Assets and Liabilities - Non-current assets totaled HKD 442.8 million for fiscal year 2024, down from HKD 466.5 million in fiscal year 2023[3]. - Current assets decreased to HKD 613.6 million in fiscal year 2024 from HKD 797.0 million in fiscal year 2023[3]. - The total assets of the group decreased to HKD 1,056,373,000 in 2024 from HKD 1,263,486,000 in 2023, a reduction of about 16%[14]. - The total liabilities for the group in 2024 are HKD 289,707,000, down from HKD 455,269,000 in 2023, reflecting a decrease of approximately 36%[14]. - Current liabilities were reduced to HKD 215.8 million in fiscal year 2024 from HKD 349.2 million in fiscal year 2023[3]. - The total equity attributable to the company's owners was HKD 766.7 million, down from HKD 808.2 million in fiscal year 2023[4]. Cost Management - Total costs of services provided were HKD 320,968,000 in 2024, down from HKD 408,510,000 in 2023, reflecting a cost reduction strategy[22]. - The cost of services provided decreased by approximately HKD 87.5 million or 21.4% to about HKD 321.0 million in fiscal year 2024[34]. - Administrative and other expenses decreased by approximately HKD 84.0 million or 24.1% from about HKD 348.0 million in FY2023 to approximately HKD 264.0 million in FY2024, mainly due to reductions in marketing expenses, depreciation, and impairment losses[38]. Dividends - The board proposed a final dividend of HKD 0.028 for fiscal year 2024, compared to HKD 0.16 for fiscal year 2023[1]. - The final dividend is subject to approval at the upcoming annual general meeting scheduled for December 2, 2024[77]. Operational Developments - The company focused on cost management and operational efficiency improvements while investing in IT infrastructure and digital capabilities to enhance customer experience and market coverage[45]. - The primary care division's overall revenue increased by approximately 28.5% in FY2024 compared to FY2023, excluding pandemic-related services[46]. - Patient visits in the primary care division rose by about 20.6% in FY2024 compared to FY2023, demonstrating resilience in meeting general healthcare demands[46]. - The company opened two new medical centers in FY2024, located in Lam Tin and Ngau Tau Kok, expanding its comprehensive healthcare service coverage[46]. - The introduction of specialized eye care services at the POLYEYE Eye Center aims to address various eye conditions and enhance the company's capabilities in ophthalmology[47]. Strategic Initiatives - The group is focusing on strategic investment in biomedical technology, particularly in developing gut microbiome technology based on precision medicine[52]. - The introduction of the "Ying Jian Online Store" membership program has improved brand awareness and customer loyalty, expanding market share[54]. - The "H2 Rewards" mobile app membership program has become a valuable asset for fostering customer relationships and encouraging active participation[55]. - The group aims to create value for stakeholders through continuous updates and enhancements of its products and services[53]. Corporate Social Responsibility - The company remains committed to corporate social responsibility by collaborating with the Hong Kong government to promote sustainable healthcare development[50]. - The group emphasizes the importance of corporate social responsibility and has been recognized for its contributions to community welfare[57]. Future Outlook - The company maintains a cautiously optimistic outlook for business growth and financial performance in the next fiscal year despite ongoing global economic uncertainties[61]. - The company aims to diversify its revenue sources through strategic partnerships, acquisitions, and market analysis to expand its customer base[61]. - The company is committed to digital transformation initiatives to enhance customer experience and operational efficiency, focusing on optimizing supply chains and data-driven decision-making[61].
盈健医疗(01419) - 2024 - 年度业绩