Financial Performance - Total revenue for the year reached RMB 2,572 million, representing a year-on-year increase of 19.9%[3] - Gross profit rose to RMB 1,190 million, with a gross margin of 46.3%, up 0.7 percentage points from the previous year[3][7] - Net profit for the year was RMB 252 million, reflecting a year-on-year growth of 9.7%[3][7] - Cash flow from operating activities amounted to RMB 797 million, up 27.4% year-on-year[7] - Total revenue for 2024 reached RMB 2,572 million, a 19.9% increase from RMB 2,145 million in 2023[30] - The gross profit for 2024 was RMB 1,190 million, compared to RMB 977 million in 2023, indicating an increase of 21.8%[64] - The net profit for the year was RMB 252 million, an increase from RMB 230 million in 2023, representing a growth of 9.7%[65] - Adjusted net profit (non-HKFRS measure) for 2024 was RMB 252 million compared to RMB 241 million in 2023, reflecting a year-on-year increase[51] Membership Growth - Active members in direct-operated stores increased to 137,027, a growth of 46.3% year-on-year[3] - The number of active members in beauty and health franchise stores reached 61,447, a growth of 57.9% year-on-year[11] - In 2024, the number of active members in direct-operated stores increased to 130,961, a 44.7% rise from 90,468 in 2023[13] - The number of active members in medical beauty services grew by 37.4% to 33,630, up from 24,474 in 2023[20] Revenue Segmentation - Revenue from beauty and health services reached RMB 1,443 million, a year-on-year increase of 20.9%[10] - Medical beauty service revenue grew by 9.1% to RMB 927.9 million in 2024, driven by increased membership and operational efficiency[35] - Revenue from sub-health medical services surged by 98.9% to RMB 200.9 million in 2024, attributed to membership growth and innovative services at the Women's Special Care Center[36] - Revenue from the Women's Special Care Center exceeded RMB 100 million in 2024, representing a year-on-year growth of over 300%, with active membership increasing by over 200%[24] Acquisitions and Investments - The company acquired 70% of the core assets of Nairui for RMB 350 million, marking a significant step into the health sector[5] - The company completed the acquisition of Narier, integrating it into the group’s financial statements, contributing RMB 287.3 million in revenue from 232,860 customer visits and 34,252 active members in the second half of 2024[25] - The company completed the acquisition of 70% of Nair Health Technology Co., Ltd. for RMB 350 million on March 26, 2024[60] Operational Efficiency - The average customer acquisition cost for active members in direct-operated stores decreased by 8.9% in 2024[15] - The company achieved a 27.1% year-on-year growth in new member acquisition for beauty and health services, driven by strong brand influence and digital marketing capabilities[15] - The company expanded its sub-health medical service clinics to 11 locations, with a 62.5% increase in customer traffic to 27,079 visits[22] Research and Development - The number of patents obtained by the CellCare brand increased by 44 to a total of 58, showcasing its leadership in medical beauty technology research and development[20] - The company plans to continue its research and development efforts in customized beauty equipment through partnerships with international firms[116] Future Plans - The company plans to distribute a final dividend of HKD 0.52 per share, totaling approximately HKD 123 million[3] - The company plans to fully launch the "Craftsmanship Service" brand upgrade plan in 2025, focusing on enhancing service quality and customer experience[13] - The company plans to leverage AI technology in the "Beauty and Health" sector to drive innovation and optimize operational decision-making[28] - The company plans to utilize 67.6% of the net proceeds from the global offering for expanding and upgrading service networks, with a total of HKD 377.5 million allocated[103] Financial Position - As of December 31, 2024, the company's cash and cash equivalents totaled RMB 1,831 million, an increase of RMB 257 million or 16.3% compared to RMB 1,574 million in the same period of 2023[52] - Total assets increased to RMB 4,276,480 thousand in 2024, up from RMB 3,302,006 thousand in 2023, representing a growth of approximately 29.5%[66] - The total equity increased to RMB 975,240 thousand in 2024, up from RMB 834,233 thousand in 2023, representing a growth of approximately 16.9%[67] - The company’s non-current liabilities totaled RMB 562,380 thousand in 2024, an increase from RMB 415,761 thousand in 2023, reflecting a rise of about 35.3%[67] Shareholder Returns - The company committed to returning at least 50% of annual net profit to shareholders as dividends over the next three fiscal years, barring special circumstances[27] - The company declared dividends of RMB 101,151,000 in 2024, up from RMB 84,009,000 in 2023, marking a 20.4% increase[91] - Proposed final dividend of HKD 0.52 per share for the year ended December 31, 2024, compared to HKD 0.47 per share in 2023, reflecting an increase of 10.64%[100] Corporate Governance - The audit committee, consisting of one non-executive director and two independent non-executive directors, has been established to oversee financial reporting and internal controls[109] - The auditor confirmed that the financial figures in the performance announcement are consistent with the audited consolidated financial statements for the year ending December 31, 2024[110] - There were no significant events occurring after the reporting period up to the announcement date[111]
美丽田园医疗健康(02373) - 2024 - 年度业绩