京玖康疗(00648) - 2025 - 年度业绩

Business Overview Core Business and Market Performance The Group's core business is distributing medical and health equipment in Hong Kong, achieving revenue growth in FY2024 despite margin pressures - The Group primarily distributes medical and health equipment in Hong Kong as an authorized distributor for seven suppliers, generating revenue from equipment sales, consumables, and support services[4] - In FY2024, the company recorded a gain on derecognition of liabilities of HK$328 million, significantly improving its financial position and achieving a positive net asset value[4] - The Hong Kong medical device market outlook is positive, with projected growth of 8.3% in 2025 and a 7.6% CAGR from 2025 to 2030, presenting growth opportunities for the Group[4] Financial Analysis Operating Performance The Group's revenue grew by 6.4% to HK$54.6 million in FY2024, but gross profit and margin declined due to a shift in sales mix FY2023-2024 Operating Performance Comparison | Metric | FY2024 | FY2023 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue (HK$) | 54.6 million | 51.3 million | +6.4% | | Gross Profit (HK$) | 18.4 million | 21.1 million | -12.9% | | Gross Margin | 33.7% | 41.1% | -7.4 p.p. | Annual Profit Analysis The Group's comprehensive profit surged to HK$326.3 million in FY2024, driven by a one-off gain and reduced operating expenses - Annual profit surged to HK$326.3 million, primarily due to a one-off gain of HK$328 million from the derecognition of liabilities[6] - Administrative expenses decreased significantly by 35.1% to HK$9.8 million due to effective cost controls on staff and office expenses[7] - Financing costs plummeted by 89.9% to HK$1.3 million from HK$12.9 million last year, following the implementation of a debt restructuring plan[8] Risks and Other Matters Key Risks and Uncertainties The Group faces multiple risks including macroeconomic uncertainties, market competition, supplier dependency, and potential supply chain disruptions - At the macro level, the Group faces risks from global economic uncertainty, US-China tensions, and inflation, which could impact the supply chain[9] - Operational risks include intense market competition eroding margins, dependency on key suppliers, failure to renew distribution rights, and inability to adapt to rapid technological changes[9][14] - The company highlights that maintaining a healthy capital structure is crucial for going concern, following past financial challenges[9] Post-Reporting Period Events and Share Status No significant events affecting the Group's operations or finances occurred after the reporting period, and its shares remain suspended from trading - No events with a material impact on the Group occurred after the reporting period[11] - The company's shares will continue to be suspended from trading, and shareholders are advised to exercise caution when dealing in the shares[12]