Financial Performance - The company's revenue for the year ending December 31, 2024, was HKD 1,627,199,000, representing an increase of 3.7% from HKD 1,568,824,000 in 2023[3] - Gross profit for the year was HKD 336,220,000, up from HKD 290,334,000, indicating a growth of 15.8%[5] - Operating profit decreased slightly to HKD 86,118,000 from HKD 88,612,000, a decline of 2.8%[5] - The net profit for the year was HKD 41,976,000, which is a significant increase of 62.8% compared to HKD 25,893,000 in the previous year[5] - Basic earnings per share rose to HKD 2.65 from HKD 1.59, reflecting a growth of 66.5%[5] - Total comprehensive income for the year was HKD 34,865,000, compared to HKD 27,816,000 in 2023, marking an increase of 25.3%[7] Assets and Liabilities - Non-current assets totaled HKD 2,179,670,000, slightly up from HKD 2,175,485,000 in 2023[9] - Current assets decreased to HKD 1,359,207,000 from HKD 1,360,768,000, a minor decline of 0.1%[10] - The company's total liabilities were HKD 1,165,696,000, compared to HKD 1,144,872,000 in the previous year, indicating an increase of 1.8%[10] - The net asset value increased to HKD 1,894,829,000 from HKD 1,871,645,000, reflecting a growth of 1.2%[10] Accounting Standards and Policies - The group has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, including HKAS 1 (revised) which classifies liabilities as current or non-current[12] - The revised HKFRS 16 clarifies the accounting treatment for sale and leaseback transactions, impacting how lease liabilities are measured[16] - The group has changed its accounting policy for measuring land and buildings from a revaluation model to a cost model, which is expected to better reflect operational performance[24] - The new disclosures regarding supplier financing arrangements will require detailed information on terms, conditions, and financial liabilities, effective for the fiscal year ending December 31, 2024[19] - The group is currently assessing the expected impact of new and revised standards that will be effective in future accounting periods, with minimal expected impact on consolidated financial statements[21] Revenue Segmentation - The revenue from hospital fees and charges for the year was HKD 1,581,036,000, compared to HKD 1,521,859,000 in the previous year, showing an increase of about 3.9%[34] - The revenue from property sales was HKD 105,000, down from HKD 3,151,000, indicating a significant decline[34] - The company has identified six operating segments, including medical services and property development, to allocate resources and assess performance[38] Medical Segment Performance - The medical segment generated a profit of HKD 119,991,000, while the elderly care segment reported a loss of HKD 46,334,000 for the year 2024[40] - The medical segment recorded revenue growth to HKD 1,581,036,000 for the first quarter of 2024, compared to HKD 1,521,859,000 in 2023, with a profit of HKD 119,991,000, up from HKD 87,023,000 in the previous year[73] - EBITDA for the medical segment reached HKD 222,479,000 for the year ending December 31, 2024, compared to HKD 202,095,000 in 2023[73] Employee and Operational Metrics - Employee benefit expenses, including directors' remuneration, amounted to HKD 573,972,000 in 2024, up from HKD 564,219,000 in 2023[48] - The company employed 2,626 employees as of December 31, 2024, an increase from 2,599 employees in 2023, reflecting a stable workforce[115] Dividends and Shareholder Returns - The proposed final dividend for the year 2024 is HKD 21,696,000, which is an increase from HKD 10,860,000 in 2023, representing a growth of 100%[49] - The company proposed a final dividend of HKD 0.02 per share for the year ended December 31, 2024, compared to HKD 0.01 per share in the previous year[66] Investment and Development - The company is actively seeking high-quality resources for the development of its Kunming Hospital Phase II project, aligning with its high-end medical development plan[117] - The elderly care division plans to create smart elderly care communities, emphasizing member services and preventive dietary management by 2025[118] Financial Stability and Risk Management - The group had a net cash surplus as of December 31, 2024, with no debt ratio reported, indicating a stable financial position[107] - The group has not made any significant investments or acquisitions as of December 31, 2024, indicating a cautious approach to expansion[114] - The group has no significant contingent liabilities as of December 31, 2024, indicating a low-risk profile[113] Governance and Compliance - The audit committee has reviewed the accounting practices and financial statements for the year ending December 31, 2024, ensuring compliance with applicable standards[124] - The company has adhered to the corporate governance code as outlined in the listing rules, ensuring good governance practices[123]
中国医疗网络(00383) - 2024 - 年度业绩