Financial Performance - The group's revenue increased by 30.1% from RMB 2,323.4 million for the year ended December 31, 2023, to RMB 3,022.4 million for the year ended December 31, 2024[3]. - Gross profit rose by 29.9% from RMB 700.0 million in 2023 to RMB 909.3 million in 2024[3]. - Adjusted net profit increased by 31.4% from RMB 304.7 million for the year ended December 31, 2023, to RMB 400.4 million for the year ended December 31, 2024[3]. - The total comprehensive income for the year was RMB 319.5 million, compared to RMB 258.0 million in the previous year, reflecting a growth of 23.7%[5]. - Basic earnings per share increased from RMB 1.06 in 2023 to RMB 1.26 in 2024, representing an increase of 18.9%[6]. - The group's profit before tax for 2024 was RMB 306,780,000, an increase from RMB 252,202,000 in 2023, representing a growth of approximately 21.6%[44]. - The company's net profit increased by 21.4% from RMB 252.9 million for the year ended December 31, 2023, to RMB 307.2 million for the year ended December 31, 2024[88]. - The total tax expense for the year was RMB 56,101,000, compared to RMB 31,232,000 in 2023, indicating an increase of about 79.8%[40]. Assets and Liabilities - Non-current assets grew from RMB 1,541.7 million in 2023 to RMB 1,843.5 million in 2024, an increase of 19.6%[7]. - Cash and cash equivalents decreased from RMB 1,301.3 million in 2023 to RMB 1,116.4 million in 2024, a decline of 14.2%[8]. - Trade receivables increased from RMB 179.9 million in 2023 to RMB 269.4 million in 2024, a rise of 49.7%[7]. - The company reported a significant increase in goodwill from RMB 984.7 million in 2023 to RMB 1,132.5 million in 2024, an increase of 15.0%[8]. - The group's total assets at the end of 2024 were RMB 1,132,508,000, up from RMB 984,688,000 in 2023, reflecting an increase of approximately 15.0%[45]. - Trade payables increased to RMB 268,764 thousand in 2024 from RMB 247,145 thousand in 2023, representing an increase of 8.2%[49]. - The total trade payables and notes payable reached RMB 307,673 thousand in 2024, up from RMB 286,619 thousand in 2023, marking a growth of 7.3%[49]. Revenue Breakdown - Revenue from healthcare solutions amounted to RMB 2,987,656 thousand in 2024, up from RMB 2,287,100 thousand in 2023, reflecting a growth of 30.7%[28]. - Revenue from the sale of healthcare products was RMB 34,721 thousand in 2024, slightly down from RMB 36,251 thousand in 2023[28]. - Revenue from offline medical institutions increased by 34.5% from RMB 2,037.1 million for the year ended December 31, 2023, to RMB 2,740.5 million for the year ending December 31, 2024[72]. - Revenue from offline medical institutions accounted for 90.7% of total revenue in 2024, increasing from 87.7% in 2023, with a growth of 34.5%[71]. - The group's revenue from customer contracts for 2024 reached RMB 3,022,377 thousand, a significant increase of 30.1% compared to RMB 2,323,351 thousand in 2023[27]. Operational Developments - The company has integrated offline medical institutions with an online health platform, enhancing customer reach and service efficiency[50]. - The company aims to provide comprehensive healthcare solutions, particularly focusing on chronic disease management, through a combination of traditional Chinese medicine and Western medical practices[52]. - The establishment of a digital staff system has improved customer interaction and increased patient visits and retention rates at offline medical institutions[53]. - The company has implemented a full-process ERP system to enhance digital operations and management, improving efficiency across supply chain, sales, inventory, and accounting[54]. - The company collaborates with public hospitals and establishes expert committees to enhance its service capabilities and align with national policies for talent development in traditional Chinese medicine[56]. - As of December 31, 2024, the company operates 78 medical institutions across major cities in China and has expanded its services to Singapore, enhancing its international presence[59]. Customer Engagement - The company reported a total of 889,070 new customers in 2024, up from 803,973 in 2023, indicating a growth rate of approximately 10.6%[61]. - Cumulative customers reached 4,425,867 by the end of 2024, compared to 3,536,797 in 2023, reflecting a year-over-year increase of about 25.1%[61]. - The average spending per visit increased to RMB 559 in 2024 from RMB 541 in 2023, showing a growth of approximately 3.3%[61]. - Customer retention rate improved to 67.1% in 2024 from 65.2% in 2023, indicating enhanced customer loyalty[61]. - The number of members who consumed services in the medical network increased to 459,522 in 2024 from 364,482 in 2023, representing a growth of 26.1%[63]. - Member visits increased to 2,131,000 in 2024 from 1,568,000 in 2023, a rise of 35.8%[63]. Future Plans and Investments - The company plans to propose a dividend of RMB 89.96 million for the year ended December 31, 2024[8]. - The company plans to maintain a dividend of HKD 0.41 per share for the final dividend, pending shareholder approval[42]. - The company aims to increase R&D investment for the productization and standardization of healthcare solutions, having already obtained licenses for several traditional Chinese medicine formulations[66]. - The company plans to integrate big data and AI technologies into traditional Chinese medicine over the next three to five years, aiming to accelerate the digital transformation of its services[58]. - The company has established a governance framework to ensure compliance with corporate governance codes, although it deviates from the code regarding the separation of the roles of Chairman and CEO[109]. Compliance and Governance - The group has adopted revised Hong Kong Financial Reporting Standards for the first time in the current financial statements[14]. - The group plans to apply new and revised HKFRS that have been issued but are not yet effective, including HKFRS 18 and HKFRS 19, when they come into effect[18]. - The company has established an audit committee to assist the board in reviewing compliance, accounting policies, and financial reporting procedures[118]. - The company has maintained a public float of at least 25% of its total issued shares during the reporting period[117]. - No significant litigation or arbitration involving the company or its subsidiaries has been reported as of the announcement date[115].
固生堂(02273) - 2024 - 年度业绩