Financial Performance - Revenue for the year ended June 30, 2024, was HKD 748,489,000, an increase of 2.9% from HKD 727,167,000 in 2023[1] - The profit before interest, tax, depreciation, and amortization (EBITDA) decreased by 15.9% to HKD 84,776,000 from HKD 100,852,000[1] - Net profit for the year was HKD 35,217,000, down 36.8% from HKD 55,735,000 in the previous year[1] - Basic and diluted earnings per share decreased by 33.6% to HKD 5.08 from HKD 7.65[1] - Proposed final dividend is HKD 2.00, a decrease of 33.3% from HKD 3.00 in the previous year[1] - The gross profit margin decreased to 11.3% from 13.9%, a decline of 2.6 percentage points[2] - The net profit margin also decreased to 4.7% from 7.7%, a decline of 3.0 percentage points[2] - The total comprehensive income for the year was HKD 14,004,000, significantly down from HKD 60,203,000 in the previous year[4] - Adjusted profit before tax for the year was HKD 40,624,000, compared to HKD 64,365,000 in the previous year, indicating a decrease of approximately 36.9%[17] - The company reported a net profit of HKD 35,217,000 for the year ended June 30, 2024, down from HKD 55,735,000 in the previous year, a decline of approximately 36.9%[17] Assets and Liabilities - Cash and bank balances decreased by 11.8% to HKD 256,139,000 from HKD 290,495,000[2] - Total equity decreased by 2.0% to HKD 725,942,000 from HKD 740,547,000[2] - Current liabilities totalled HKD 270,364,000 in 2024, a slight decrease of 0.3% from HKD 271,111,000 in 2023[6] - Net current assets decreased to HKD 218,719,000 in 2024 from HKD 224,413,000 in 2023, reflecting a decline of 2.5%[6] - Total non-current liabilities increased to HKD 91,781,000 in 2024, up 14.1% from HKD 80,424,000 in 2023[6] - Total liabilities for the company were HKD 392,557,000, compared to HKD 360,505,000 in the previous year, reflecting an increase of approximately 8.9%[16][18] Revenue Breakdown - The external sales breakdown included HKD 254,520,000 from Hong Kong and Macau corporate healthcare solutions, HKD 450,869,000 from clinical healthcare services in Hong Kong and Macau, and HKD 43,100,000 from clinical healthcare services in mainland China[15] - Revenue from healthcare solutions in Hong Kong and Macau was HKD 254,520,000, up from HKD 244,691,000, reflecting a growth of 4.0%[19] - Clinical healthcare services revenue reached HKD 450,869,000, compared to HKD 437,819,000 in the previous year, marking a growth of 3.0%[19] - Revenue from corporate healthcare solutions in Hong Kong and Macau reached HKD 255,840,000, up 3.9% from HKD 246,225,000[43] - Clinical healthcare services in Hong Kong and Macau generated HKD 583,084,000, an increase of 3.6% from HKD 562,774,000[43] Operational Highlights - The company operates primarily in healthcare services, including corporate healthcare solutions, medical and dental services, and medical imaging[7] - The company operates over 1,000 service points in Hong Kong and Macau as part of its UMP network[41] - The company has invested in and operates 10 advanced imaging and testing centers in Hong Kong as of June 30, 2024[42] - The company is expanding third-party management services in mainland China, aiming to attract local enterprises for cross-border healthcare[49] - The company established a strategic partnership with AXA Hong Kong to provide cross-border medical services, enhancing customer experience[48] Cost and Expenses - Employee benefit expenses rose to approximately HKD 197.0 million, an increase of about HKD 17.2 million or 9.6%, accounting for 26.3% of total revenue, compared to 24.7% in fiscal year 2023[60] - Professional service expenses increased by approximately HKD 15.5 million, or 6.1%, maintaining 36.2% of total revenue, up from 35.1% in fiscal year 2023[59] - Other expenses for fiscal year 2024 amounted to approximately HKD 81.6 million, an increase of about 10.3% from HKD 74 million in fiscal year 2023, primarily due to non-cash write-offs of other intangible assets[63] Strategic Initiatives - The company emphasizes sustainable growth and innovation in response to evolving market dynamics and consumer expectations[46] - The company is focusing on cost control measures and strategic marketing to address challenges in patient volume and profitability[50] - The establishment of the new Chinese medicine center is anticipated to significantly contribute to the overall growth of the group and strengthen its market position[54] - The company is strategically collaborating with local authorities to expand its presence in the Greater Bay Area, capitalizing on the growing demand for quality healthcare services[56] Governance and Compliance - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[8] - The company aims to maintain a high level of corporate governance and transparency, complying with the corporate governance code[89] - The audit committee consists of three independent non-executive directors with extensive experience in financial and corporate management[91] - The company has adopted a new share option scheme approved on November 24, 2023[97] Future Outlook - The company remains cautiously optimistic about growth prospects in Hong Kong, Macau, and mainland China, emphasizing the importance of strategic decision-making[57] - A new Chinese medicine center is set to begin operations in July 2024, expected to enhance service offerings and market position[54]
联合医务(00722) - 2024 - 年度业绩