Company Overview - The group celebrated its 35th anniversary in 2024, becoming one of the largest and oldest listed healthcare groups in Hong Kong[8]. - The group operates 435 medical service points, providing a wide range of services including general practice, specialist, and dental care[10]. - The group plans to open a new cardiology center in Tuen Mun in Q1 2025 to enhance its cardiology services[12]. - Approximately HKD 18 million was invested in acquiring a retail space in Rainbow Plaza to establish a new medical center[12]. - The group is actively participating in government-funded primary healthcare initiatives and promoting the development of primary healthcare in Hong Kong[10]. Financial Performance - The group recorded a loss of approximately HKD 158.2 million for the year, compared to a loss of HKD 159.1 million in the previous year[21]. - The operating profit for the year was approximately HKD 70.9 million, down from HKD 86.4 million in the previous year[21]. - Gross profit decreased to approximately HKD 487.4 million from HKD 501.9 million, primarily due to a reduction in gross margin in certain mainland China businesses[23]. - The group's medical services revenue in Hong Kong was approximately HKD 787,053,000, representing an increase from HKD 770,996,000 in 2023, accounting for about 42.92% of total revenue[31]. - The group's Hong Kong medical network management revenue for 2024 is approximately HKD 489.35 million, accounting for about 26.69% of total revenue, a slight decrease from 27.18% in 2023[38]. Operational Developments - The group has implemented cost-reduction measures to maintain its competitive edge in the increasingly competitive local healthcare market[10]. - The group has introduced a multi-brand strategy for its specialist services, with continuous development in cardiology and orthopedics[12]. - The group is renovating its Shatin Hilton Center and plans to reopen three general practice centers and one pediatric center in Q1 2025[12]. - The group is expanding its health management services in Guangdong, Shenzhen, and Jinan, focusing on personalized health management projects[16]. - The group aims to integrate healthcare resources across Hong Kong and mainland China to meet the health needs of over 86 million residents in the Greater Bay Area[17]. Certifications and Quality Assurance - Vio has become the first and only medical network in Hong Kong to hold both ISO 9001:2015 and ISO 27001:2022 certifications[13]. - The new corporate logo and branding reflect the group's commitment to quality healthcare services and a refreshed corporate image[9]. - The group emphasizes the importance of long-term relationships with clients and customizes healthcare plans to meet diverse corporate client needs[13]. Challenges and Market Conditions - The group recognizes the challenge posed by the increasing trend of Hong Kong residents seeking medical services in mainland China due to shorter wait times and lower costs[10]. - The group is implementing cost control measures and improving operational efficiency to enhance overall competitiveness amid challenging market conditions[27]. - The group maintains a cautiously optimistic outlook for the private healthcare market in Hong Kong and mainland China, despite challenges such as rising costs and geopolitical tensions[52]. Employee and Management - The total employee cost for the year was approximately HKD 743,697,000, compared to HKD 740,650,000 in 2023, with a workforce of 1,441 employees[68]. - The company has a total of 1,279 employees as of December 31, 2024, with 89% being full-time and 11% part-time[169]. - Employee turnover rate during the reporting period is 21%, with 267 employees leaving the company[172]. - The company provides competitive salaries, promotion opportunities, and benefits to attract and retain talent, including mandatory provident fund and medical insurance[176]. Environmental, Social, and Governance (ESG) Initiatives - The board conducts annual reviews of the group's environmental, social, and governance (ESG) performance and identifies related risks[102]. - The group has set environmental protection goals, including waste reduction and energy conservation, to significantly improve environmental performance and promote business growth[103]. - The company has committed to improving its environmental, social, and governance (ESG) management through ongoing communication with stakeholders[113]. - The company actively engages with stakeholders, collecting constructive feedback through regular meetings and performance reviews to enhance business performance[109]. Health and Safety - The company emphasizes the importance of employee health and safety, adhering to local laws and regulations[181]. - The company reported zero fatal work accidents over the past three years, maintaining a fatal accident rate of 0%[183]. - There were 3 cases of work injuries resulting in more than 3 days lost during the reporting period, a decrease from 7 cases in the previous year[183]. Community Engagement - The company has established partnerships with local charities to support community service and youth development initiatives[108]. - The company has identified five major areas of importance related to social issues and healthcare practices, ensuring compliance with legal requirements[113].
康健国际医疗(03886) - 2024 - 年度财报