Financial Performance - Revenue for the six months ended June 30, 2025, was $83,550,000, representing a 5.9% increase compared to $78,910,000 for the same period in 2024[4] - Gross profit for the same period was $55,897,000, slightly up by 0.2% from $55,776,000 in 2024[4] - Profit attributable to owners of the company increased by 5.1% to $19,785,000 from $18,828,000 year-over-year[4] - Basic and diluted earnings per share rose to 2.40 cents, a 5.3% increase from 2.28 cents in the previous year[4] - Operating profit for the period was $16,833,000, an increase from $15,871,000 in the prior year[5] - Total comprehensive income for the period was $25,635,000, compared to $14,871,000 in 2024[6] - Revenue for the six months ended June 30, 2025, was $83,550 thousand, an increase from $78,910 thousand for the same period in 2024, representing a growth of approximately 2.0%[17] - The cost of goods sold for the six months ended June 30, 2025, was $14,857 thousand, an increase from $12,288 thousand in 2024, representing a rise of about 20.9%[22] - The income tax expense for the six months ended June 30, 2025, was $3,322 thousand, compared to $2,103 thousand in 2024, reflecting an increase of approximately 58.0%[23] - Employee benefits expenses increased to $30,959 thousand for the six months ended June 30, 2025, compared to $29,043 thousand in 2024, marking an increase of about 6.6%[22] - The depreciation of property, plant, and equipment for the six months ended June 30, 2025, was $1,212 thousand, up from $1,003 thousand in 2024, indicating a growth of approximately 20.8%[22] - The group recorded a net foreign exchange gain of $1.5 million for the six months ended June 30, 2025, compared to a net loss of $0.7 million for the same period in 2024[81] - Net income attributable to the company's owners increased by 5.1% from $18.8 million to $19.8 million, driven by increased foreign exchange gains and reduced tax expenses[75] Assets and Liabilities - Non-current assets increased to $82,543,000 from $69,553,000 as of December 31, 2024[7] - Current assets totaled $363,259,000, slightly up from $361,457,000 at the end of 2024[7] - Total liabilities decreased to $35,819,000 from $36,633,000 in the previous year[8] - Cash and bank balances decreased from $248.6 million as of December 31, 2024, to $237.1 million as of June 30, 2025, primarily due to dividend payments of $10.6 million[77] - The current ratio was approximately 12.2 times as of June 30, 2025, compared to 11.8 times as of December 31, 2024[78] - The net current asset value increased by 0.8% from $330.7 million as of December 31, 2024, to $333.5 million as of June 30, 2025[79] Revenue Breakdown - Revenue from external customers in the Asia-Pacific region was $27,311 thousand for the six months ended June 30, 2025, compared to $23,955 thousand in 2024, reflecting a growth of about 14.0%[18] - Revenue from the Asia-Pacific region increased significantly to $27.3 million, a year-on-year growth of 14.0%[44] - Revenue from Europe, the Middle East, and Africa rose by 17.0% to $22.4 million, driven by sales growth of proprietary balloon products in direct and distribution markets[45] - Revenue from Japan decreased by 14.8% to $16.1 million due to a shift in sales strategy, although marketing expenses were significantly reduced[46] - Revenue from the U.S. market increased by 20.0% to $8.0 million, attributed to significant sales growth of coronary and peripheral balloons[48] - Revenue from third-party products increased by 20.6% to $4.6 million, driven by sales growth in Indonesia[61] Corporate Governance and Compliance - The company is focused on compliance with the corporate governance code as per the listing rules, ensuring transparency and accountability[101] - The independent auditor has conducted a review of the interim financial data in accordance with the relevant standards, ensuring the integrity of the financial reporting[98] - The company is committed to adhering to the regulations set forth by the Hong Kong Stock Exchange and other applicable laws, reinforcing its operational legitimacy[101] Future Plans and Developments - The company plans to adopt new accounting standards effective January 1, 2026, which are not expected to have a significant impact on the financial position or performance[15] - The company plans to accelerate product registration in Taiwan following the acquisition of a local distributor, aiming to expand its product portfolio[57] - The company expects the new generation Scoreflex QUAD balloon to launch in Q4 2025, which is anticipated to reverse the revenue decline in the Japanese market[57] - The company is constructing its largest R&D and manufacturing facility in Hangzhou, China, expected to be operational by 2027, increasing annual production capacity by approximately 2.4 million units[55] - The group plans to utilize the net proceeds from the global offering for ongoing product development and capacity expansion, with a total expected use of $31.6 million[90] Employee and Talent Management - The group employed 1,432 employees as of June 30, 2025, with employee benefit expenses amounting to approximately $31.0 million for the six months ended June 30, 2025, compared to $29.0 million for the same period in 2024[89] - The company has adopted various incentive plans, including stock option plans and share reward plans, to motivate and retain talent[103] Dividends - The company declared a final dividend of HKD 0.10 per share (approximately USD 0.0128), totaling about USD 10.61 million for the year ending December 31, 2024[30] - The board declared a special dividend of HKD 0.15 per ordinary share, payable on October 6, 2025, in addition to a previously declared final dividend of HKD 0.10 per ordinary share[91]
业聚医疗(06929) - 2025 - 中期业绩