Financial Performance - The total revenue for the fiscal year 2024 decreased due to reduced demand for services related to COVID-19, but overall financial performance showed actual growth compared to pre-pandemic benchmarks[7]. - For the fiscal year 2024, the company reported total revenue of approximately HKD 590.8 million, a decrease of about 41.0% compared to HKD 1,001.7 million in fiscal year 2023[14]. - The revenue from primary care services decreased by approximately HKD 420.7 million or 51.4% to about HKD 398.4 million, primarily due to a reduction in revenue from COVID-19 related services[15]. - The revenue from specialty medical services increased by approximately HKD 18.5 million or 16.1% to about HKD 134.0 million, driven by an increase in patient visits and average spending per visit[16]. - The company's net profit for the fiscal year 2024 decreased to approximately HKD 24.2 million, down about 156.6 million from HKD 180.8 million in fiscal year 2023, resulting in a net profit margin of approximately 4.1% compared to 18.1% in the previous year[24][25]. - The company's attributable profit for the fiscal year 2024 was approximately HKD 24.2 million, a decrease of about 84.3% from HKD 180.8 million in fiscal year 2023, primarily due to a decline in demand for COVID-19 related services[25]. - Gross profit decreased by approximately HKD 323.4 million or 54.5% to about HKD 270.0 million, with a gross margin dropping from 59.2% in fiscal year 2023 to 45.7% in fiscal year 2024[18]. - The gross margin for primary care services fell from 64.0% to 53.3%, while specialty medical services saw a decline from 36.8% to 24.9%[19][20]. - Other income and net gains increased by approximately HKD 26.8 million to about HKD 30.2 million, primarily due to changes in fair value of financial assets and increased bank interest income[21]. - Administrative and other expenses decreased by approximately HKD 84.0 million or 24.1% to about HKD 264.0 million, attributed to reductions in marketing expenses and depreciation[22]. Strategic Initiatives - The company aims to establish a leading position in the healthcare industry through strategic investments in digital transformation and service network expansion[7]. - The company is committed to enhancing its primary healthcare services by expanding its medical center network and service offerings[8]. - The company is focused on creating a sustainable foundation for growth despite the uncertain business environment and challenges in the Greater Bay Area healthcare sector[7]. - The company is actively pursuing excellence in operations and efficiency to mitigate challenges and enhance its market share[7]. - The company plans to explore various investment and acquisition opportunities to create value for stakeholders[12]. - The company aims to enhance healthcare services, focusing on expanding ophthalmic care and improving the efficiency of day surgery centers[12]. - The company will continue to expand its medical center network through new establishments or strategic acquisitions to solidify its position as a comprehensive healthcare service platform[51]. - The company is committed to enhancing digital transformation initiatives to improve customer experience and operational efficiency[48]. - The company is focused on corporate social responsibility, emphasizing ethical behavior, environmental sustainability, and community engagement[46]. Service Expansion - The company expanded its ophthalmic care services with the opening of the POLYEYE Eye Center, providing various eye-related treatments and vision correction services[9]. - The development of the flagship health center, H2, has made significant progress, offering a wide range of medical services including specialized medical care and community pharmacies[10]. - The flagship health center, H2, offers a wide range of specialized medical services and aims to provide convenient access to various healthcare solutions for individuals[36]. - The company opened two new medical centers in Lam Tin and Ngau Tau Kok in fiscal year 2024, expanding its comprehensive healthcare service coverage[28]. - The group operates 61 medical centers, including 1 day surgery center, 3 retail centers, and 1 community pharmacy, as part of its environmental, social, and governance report[192]. Market Dynamics - The company is focused on integrating advanced technology and data analytics to significantly impact individual and societal well-being[79]. - The company faces strategic risks due to rapidly changing community demands and ongoing global economic uncertainties post-pandemic[135]. - The company relies on its professional medical team, and any failure to recruit or retain qualified personnel may adversely affect financial performance[136]. - The company emphasizes the importance of maintaining good relationships with suppliers to ensure long-term sustainable development[141]. - The increasing demand for medical beauty services reflects changing consumer preferences and desires, providing favorable conditions for the group to capture market opportunities[39]. Governance and Compliance - The company has adopted the corporate governance code as per the Stock Exchange's listing rules, ensuring compliance and best practices[77]. - The board includes experienced professionals with a track record in various industries, contributing to strategic decision-making[68][70]. - The company has established mechanisms to ensure the board receives independent views and opinions, which have been reviewed and deemed effective[88]. - The company has implemented training and continuous professional development for directors and senior management[81]. - The board has authorized committees to handle specific governance responsibilities, ensuring effective oversight[81]. - The company has confirmed compliance with the disclosure requirements for related party transactions as per the listing rules[157]. Shareholder Engagement - The company maintains a shareholder communication policy to ensure timely access to information, allowing shareholders to exercise their rights and participate actively[121]. - The company encourages shareholders to submit inquiries or suggestions via its website or designated contact methods[124]. - The board will review the dividend policy annually to provide stable and sustainable returns to shareholders while retaining sufficient reserves for future growth[123]. - The company’s articles of association allow shareholders holding at least 10% of the paid-up capital to request a special general meeting within two months of submission[120]. Human Resources - The group has 388 full-time employees and 355 part-time employees as of June 30, 2024, a decrease from 428 full-time and 426 part-time employees in the previous year[62]. - The company has a competitive compensation policy for senior management, with 1 member earning between HKD 0 to 3,000,000, 4 members earning between HKD 3,000,001 to 6,000,000, and 1 member earning between HKD 6,000,001 to 9,000,000 for the fiscal year 2024[151]. - The company’s compensation structure includes fixed, performance-related, and long-term incentives to attract and retain high-quality employees[151]. Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report is based on a comprehensive stakeholder engagement process and materiality assessment[193]. - The board of directors oversees all ESG-related matters and is responsible for monitoring and managing the group's sustainability performance[198]. - The ESG committee was established in the fiscal year 2020 to assist the board in managing and addressing all ESG issues[199]. - The group has committed to developing new environmental goals for the next three years, enhancing its corporate social responsibility[198]. - The report adheres to the ESG reporting guidelines as per the listing rules, ensuring compliance and transparency[194].
盈健医疗(01419) - 2025 - 年度财报