Nursing Home Operations - As of September 30, 2024, the group operates 11 nursing homes with a total of 1,378 beds, an increase from 9 homes and 1,229 beds as of March 31, 2024, representing a growth of approximately 12.1% in bed capacity[8]. - The group has expanded its nursing home network strategically across six regions in Hong Kong, up from five regions previously, enhancing its market presence[8]. - The group has upgraded two nursing homes to Class A status, which indicates higher standards in staffing and facility requirements, effective from August and September 2024[17]. - The total number of beds provided under the Improved Purchase Scheme is 702, while 676 beds are available for private paying clients, indicating a balanced service offering[13]. - The group’s nursing homes operate under several brand names, ensuring a consistent quality of service across its facilities[8]. - The company aims to continue expanding its nursing home facilities to meet the growing demand for elderly care services in Hong Kong[8]. Financial Performance - Revenue for the six months ended September 30, 2024, was approximately HKD 147.97 million, up from HKD 135.16 million for the same period in 2023, representing an increase of about 9.9%[32]. - Revenue from elderly care services increased to HKD 134.05 million, accounting for 90.5% of total revenue, compared to HKD 122.03 million or 90.3% in the previous period[28]. - Profit for the period increased by approximately 26.7% to about HKD 25.5 million, compared to HKD 20.1 million in the previous period[36]. - The average monthly occupancy rate for the group increased from 87.3% as of March 31, 2024, to 89.7% as of September 30, 2024[18]. - The company reported a profit of HKD 25,501,000, compared to HKD 20,126,000 for the same period in 2023, representing a year-over-year increase of approximately 26.8%[100]. - The basic and diluted earnings per share for the period were both HKD 2.57, up from HKD 1.99 in the previous year, indicating a growth of 29.1%[100]. Expenses and Costs - Employee benefits expenses rose from approximately HKD 54.5 million to HKD 58.5 million, primarily due to the opening of two new nursing homes in Lam Tin[33]. - Food and beverage costs increased to approximately HKD 6.3 million from HKD 4.9 million, attributed to the new nursing homes and higher average monthly occupancy rates[34]. - The company incurred net finance costs of HKD 8,148,000 for the period, compared to HKD 4,654,000 in the previous year, indicating an increase of 74.0%[100]. - The total employee benefits expenses for the period are approximately HKD 58.5 million, an increase from HKD 54.5 million in the previous period[62]. Assets and Liabilities - The group’s net assets as of September 30, 2024, were approximately HKD 441.0 million, up from HKD 434.5 million as of March 31, 2024[38]. - The current ratio as of September 30, 2024, was approximately 1.0, down from 1.1 as of March 31, 2024[38]. - Total bank borrowings amount to HKD 221.3 million, with a breakdown of HKD 27.2 million due within one year and HKD 115.2 million due in over five years[47]. - The total liabilities decreased to HKD 398,032,000 from HKD 428,774,000, a reduction of 7.2%[110]. - Total assets as of September 30, 2024, amounted to HKD 838,997,000, a decrease of 2.6% from HKD 863,301,000 as of March 31, 2024[110]. Strategic Initiatives - The company is focused on enhancing its service offerings, including the provision of healthcare products and additional care services to residents[8]. - The company plans to open a new nursing home in Yuen Long, expected to provide approximately 250 beds, with operations starting by the end of 2026[55]. - A new nursing home in Lam Tin with 76 beds commenced operations in June 2024, and a second phase with approximately 146 beds is expected to start by the end of 2024[66]. - The company is expanding its services into the medical diagnostics and health check market, responding to the increasing public awareness of preventive healthcare[69]. Governance and Compliance - The company has adopted the principles and code provisions of the Corporate Governance Code to ensure proper governance of its business activities[94]. - The Audit Committee, established on May 20, 2019, includes three independent non-executive directors and is responsible for reviewing the financial statements and overseeing the financial reporting system[97]. - All directors confirmed compliance with the trading code during the reporting period, adhering to the standards set forth in the company's securities trading policy[85].
嘉涛(香港)控股(02189) - 2025 - 中期财报