Financial Performance - The company recorded a revenue growth of 11.6%, reaching HKD 801.0 million for the year ended December 31, 2024[4] - Profit for the year increased by 21.8% to HKD 70.9 million, with a net profit margin rising to 8.9% from 8.1% in 2023[4] - Operating profit for the year was HKD 79.7 million, up from HKD 65.8 million in 2023[5] - The group's revenue for 2024 reached HKD 800,963,000, an increase from HKD 717,973,000 in 2023, representing an increase of approximately 11.5%[22] - The total profit for the reporting segment rose to HKD 100,401,000 in 2024, compared to HKD 90,548,000 in 2023, marking an increase of 10.2%[32] - The company reported a basic and diluted earnings per share of HKD 69,167,000 for 2024, compared to HKD 57,275,000 in 2023, reflecting a significant increase in profitability[43] Revenue Segmentation - Revenue from the imaging disposable products segment increased by 37.7% to HKD 393.3 million, attributed to strengthened collaboration with major clients and growth in the global medical imaging diagnostic services market[4] - Revenue from OEM products was HKD 631,477,000 in 2024, up from HKD 505,520,000 in 2023, reflecting a growth of about 24.9%[22] - Revenue from external customers in the United States reached HKD 292,736,000 in 2024, up from HKD 259,719,000 in 2023, reflecting a growth of 12.7%[33] - Revenue from external customers in Spain surged to HKD 256,594,000 in 2024, compared to HKD 168,738,000 in 2023, indicating a significant increase of 52.0%[33] - Revenue from the imaging disposable products segment reached HKD 393.3 million in 2024, a 37.7% increase from HKD 285.6 million in 2023, accounting for 49.1% of total revenue[48] - The respiratory products segment experienced a revenue decline of 10.7% to HKD 245.5 million in 2024, down from HKD 274.9 million in 2023, primarily due to reduced demand[50] - Revenue from orthopedic support and rehabilitation products decreased by 14.4% to HKD 50.2 million in 2024, down from HKD 58.7 million in 2023, reflecting pressures from macroeconomic uncertainties[51] - Other products revenue increased by 13.2% to HKD 111.9 million in 2024, up from HKD 98.8 million in 2023, representing 14.0% of total revenue[52] Dividends - The board proposed a final dividend of HKD 0.017 per share, totaling HKD 0.033 per share for 2024, compared to HKD 0.0275 per share in 2023[4] - The company has approved a final dividend of HKD 1.5 per share for 2023, totaling approximately HKD 9,800,000, and a mid-term dividend of HKD 1.6 per share for 2024, totaling approximately HKD 10,453,000[10] - The board has declared a final dividend of 1.7 HKD cents per share for the year, up from 1.5 HKD cents in 2023, bringing the total dividend for 2024 to 3.3 HKD cents per share[87] Assets and Liabilities - Total assets increased to HKD 919.7 million from HKD 786.6 million in 2023[8] - Non-current assets rose significantly to HKD 332.0 million from HKD 214.0 million in 2023, driven by investments in property, plant, and equipment[8] - The company’s total equity increased to HKD 583.4 million from HKD 543.1 million in 2023[9] - Contract assets increased to HKD 31,613,000 in 2024 from HKD 14,820,000 in 2023, indicating a significant rise of approximately 113%[24] - The group reported a decrease in trade receivables to HKD 169,332,000 in 2024 from HKD 172,394,000 in 2023, a decline of approximately 1.8%[24] - Trade receivables amounted to HKD 169.3 million, with the quality of receivables being satisfactory and credit risk management continuing to be a focus[69] - The company’s inventory as of December 31, 2024, was HKD 162.7 million, down from HKD 173.8 million in 2023, reflecting strict inventory policies[68] Operational Efficiency - The company focused on quality and compliance management, obtaining certification under the EU Medical Device Regulation for its quality management system and respiratory product series[4] - The company implemented efficiency-enhancing measures, including optimizing procurement channels and upgrading its ERP system[4] - The company is focused on digitalization, automation, and operational optimization to improve workflow and efficiency across its business management systems[47] - The new production facility in Jiangmen, Guangdong Province, is on track to commence trial operations by the end of 2025, aimed at enhancing operational efficiency[47] - Capital expenditure for the year was HKD 142.4 million, significantly up from HKD 21.3 million in 2023, primarily for the construction of new production facilities[65] - The company plans to continue building new production facilities, expected to commence trial operations by the end of 2025[56] Research and Development - Research and development expenditure was HKD 30.6 million, representing 3.8% of total revenue, down from 5.0% in 2023[62] - The company plans to continue investing in R&D and seek strategic partnerships to accelerate business development, particularly in the context of its collaboration with Inovytec Medical Solutions Limited[53] Financial Standards and Compliance - The group has adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which includes changes in the classification of liabilities[14] - The group has not made any retrospective adjustments due to the adoption of the revised standards, and there was no significant impact on previously recognized amounts[15] - The group is currently evaluating the expected impact of new standards and interpretations that will become effective in the future, including those effective from January 1, 2025, and beyond[18][19] Miscellaneous - The company has not made any significant acquisitions or disposals of subsidiaries or associates during the year[80] - As of December 31, 2024, the company has no contingent liabilities reported[85] - The company has pledged assets including properties and equipment valued at 132.7 million HKD and right-of-use assets at 30.4 million HKD to secure loans for new production facilities[82] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the year[96] - There are no significant events reported after the reporting period up to the date of this announcement[81] - The company has not established a foreign currency hedging policy despite exposure to currency risks, particularly with costs denominated in RMB and sales in USD and JPY[83] - The annual general meeting is scheduled for May 21, 2025, with a record date for the final dividend on June 2, 2025[86]
永胜医疗(01612) - 2024 - 年度业绩