Financial Performance - For the fiscal year ending March 31, 2025, the company's revenue was approximately HKD 782.3 million, an increase of about 20.7% compared to HKD 648.4 million in the same period of 2024[2]. - Operating profit for the same period was approximately HKD 246.1 million, representing a growth of about 41.3% from HKD 174.2 million in 2024[2]. - Profit attributable to equity holders was approximately HKD 197.3 million, up by 51.2% from HKD 130.5 million in the previous year[2]. - The company reported a gross profit of HKD 413.7 million, compared to HKD 338.1 million in 2024, indicating a strong growth in profitability[3]. - The total comprehensive income for the year was HKD 192.6 million, compared to HKD 130.9 million in the previous year[4]. - Basic and diluted earnings per share increased to HKD 24.08 from HKD 14.76 in 2024[4]. - The adjusted EBITDA for the year was HKD 295,762,000, compared to HKD 215,496,000 in the prior year, reflecting an increase of approximately 37.2%[23]. - The company's profit before tax for the year ended March 31, 2025, was HKD 197,261,000, an increase from HKD 130,463,000 in 2024, representing a growth of approximately 51%[31]. - Basic earnings per share for the year ended March 31, 2025, were HKD 240.00, compared to HKD 147.00 in 2024, reflecting a year-over-year increase of 63.3%[31]. - The company's total income tax expense for the year ended March 31, 2025, was HKD 42,237,000, compared to HKD 27,680,000 in 2024, representing a year-over-year increase of 52.7%[7]. Dividends - The board proposed a final dividend of HKD 0.115 per share, totaling approximately HKD 94.5 million, compared to HKD 0.0405 per share in 2024[2]. - Total dividends for the fiscal year amounted to HKD 0.170 per share, significantly higher than HKD 0.075 per share in 2024[2]. - The interim dividend declared was HKD 5.5 cents per share, up from HKD 3.45 cents per share in the previous year, marking a 59.4% increase[33]. - The proposed final dividend is HKD 11.5 cents per share, compared to HKD 4.05 cents per share in 2024, indicating an increase of 184.6%[33]. Assets and Liabilities - Non-current assets totaled HKD 1,092.8 million, slightly down from HKD 1,021.2 million in 2024[5]. - Current assets included cash and cash equivalents of HKD 205.8 million, an increase from HKD 140.8 million in the previous year[5]. - Non-current liabilities decreased from HKD 145,183,000 in 2024 to HKD 100,149,000 in 2025, primarily due to a reduction in lease liabilities from HKD 43,800,000 to HKD 8,829,000[6]. - Deferred tax liabilities increased significantly from HKD 7,099,000 in 2024 to HKD 91,320,000 in 2025, indicating a potential change in tax strategy or asset valuation[6]. - Total equity rose from HKD 1,021,944,000 in 2024 to HKD 1,163,958,000 in 2025, reflecting a strong financial position and retained earnings growth[6]. - The company's capital and reserves increased, with total reserves growing from HKD 962,364,000 in 2024 to HKD 1,073,879,000 in 2025, indicating effective management of shareholder equity[6]. - The company reported a total equity attributable to equity holders of the company of HKD 1,082,019,000 in 2025, up from HKD 970,676,000 in 2024, showcasing improved shareholder value[6]. Revenue Segments - Revenue from the Brand Drug segment was HKD 272,231,000 for the year ended March 31, 2025, up from HKD 190,108,000, reflecting a growth of approximately 43.2%[22]. - The Brand Chinese Medicine segment generated revenue of HKD 405,448,000, an increase from HKD 386,122,000, showing a growth of about 5.4%[22]. - The Health Supplements segment reported revenue of HKD 104,613,000, compared to HKD 72,185,000, marking a significant increase of approximately 45.0%[22]. - Revenue from external customers in Hong Kong was HKD 562,006,000, while revenue from Mainland China was HKD 146,980,000, down from HKD 462,829,000, indicating a decline of about 68.3%[25]. Market and Growth Strategies - The company successfully captured growth opportunities in key cities within Hong Kong, Macau, and the Greater Bay Area[44]. - The company remains optimistic about growth prospects due to structural trends such as increased health awareness and an aging population driving demand for healthcare products[50]. - The company is focusing on diversifying its product portfolio to meet changing consumer demands and leveraging opportunities in the Greater Bay Area[50]. - The company is strategically positioned to benefit from increased public trust and broader market acceptance of traditional Chinese medicine, supported by favorable government policies[99]. - The company is expanding its distribution network and enhancing consumer interaction to promote brand awareness and customer base growth for Tianxi Tang products[102]. Marketing and Brand Recognition - The company received multiple awards for its marketing strategies, including the "Outstanding Television Advertising Award" and "Market Planning Award" in Hong Kong[46][47]. - The brand "He Ji Gong" ranked among the top ten best-selling overseas pharmaceutical products during the Double Eleven shopping festival in 2024, enhancing brand recognition in mainland China[49]. - The comprehensive marketing campaign for Feiying Huoluo Oil increased brand awareness threefold, positioning it as a top competitor in the medicinal oil category[59]. - The brand's marketing achievements were recognized with awards, including the "Outstanding Marketing Planning Award" and "Outstanding Television Advertising Award," enhancing brand visibility[74]. Challenges and Risks - The company anticipates challenges in FY2025 due to macroeconomic factors, including high global interest rates and ongoing US-China trade tensions, which may impact consumer sentiment and discretionary spending[97]. - The changing behavior of mainland Chinese tourists has impacted retail recovery, with shorter stays and reduced spending per visit[67]. - The retail environment in Hong Kong faced challenges, with overall sales and online sales declining due to high interest rates and changing consumer behavior[54]. - The company identified significant risks including competition in the healthcare market and potential product liability claims[137]. Corporate Governance - The audit committee consists of three independent non-executive directors, responsible for overseeing the integrity of the company's financial statements[145]. - The board of directors includes both executive and independent non-executive members, ensuring a diverse governance structure[151]. - The company has complied with all corporate governance codes throughout the reporting period[143].
健倍苗苗(02161) - 2025 - 年度业绩