Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 377,125,000, representing a 2.4% increase from HKD 368,372,000 in 2024[8] - Gross profit for the same period was HKD 156,816,000, up 5.9% from HKD 148,013,000 in 2024[8] - Adjusted net profit after tax decreased by 37.7% to HKD 38,817,000 from HKD 62,285,000 in 2024[8] - The company reported a net profit of HKD 40,405,000, down 12.7% from HKD 46,309,000 in the previous year[8] - Adjusted gross profit was HKD 156,816,000, slightly down by 0.8% from HKD 158,146,000 in 2024[8] - Operating profit increased to HKD 72,554,000, representing an increase of 10.0% from HKD 65,741,000 in 2024[23] - Profit before tax decreased to HKD 57,797,000, down 18.0% from HKD 70,444,000 in the previous year[23] - Total comprehensive income for the period was HKD 202,230,000, significantly higher than HKD 32,341,000 in the same period last year[24] - Basic earnings per share for the period was HKD 11.999, a decrease from HKD 13.311 in 2024[24] - EBITDA for the same period is HKD 131,821,000, leading to a profit before tax of HKD 57,797,000[59] Assets and Liabilities - Total assets as of June 30, 2025, amounted to HKD 1,811,810, an increase of 13.2% from HKD 1,599,435 as of December 31, 2024[17] - Non-current assets increased to HKD 996,664, up 12.5% from HKD 885,835 at the end of 2024[17] - Total liabilities as of June 30, 2025, were HKD 512,513, an increase of 8.2% from HKD 473,721 at the end of 2024[21] - The company’s equity attributable to owners increased to HKD 1,264,762, up 15.7% from HKD 1,092,965 at the end of 2024[17] - Cash and cash equivalents reached HKD 741,782, representing a 13.5% increase from HKD 653,232 at the end of 2024[17] - Trade receivables increased significantly to HKD 14,171, up from HKD 4,738 at the end of 2024, indicating a growth of 198.5%[17] Foreign Exchange and Financial Management - The financial results reflect the impact of pre-opening expenses for new clinics and foreign exchange losses related to global offerings[9] - The company reported a foreign exchange loss related to global offering proceeds of HKD 513, compared to HKD 323 in 2024[11] - The company experienced a foreign exchange loss due to the appreciation of the Euro against the RMB and HKD by 11.7% and 13.4%, respectively[112] - The group maintains a prudent liquidity risk management policy, ensuring sufficient cash and credit facilities[42] - The expected credit loss rate for cash and cash equivalents is assessed as not significant, with no provisions made as of June 30, 2025[41] Strategic Outlook and Growth Plans - The management plans to continue focusing on market expansion and new clinic openings to drive future growth[10] - The company is committed to enhancing its service offerings through the development of new technologies and products[10] - Future guidance indicates a cautious outlook due to the current economic environment and its impact on consumer spending[10] - The company anticipates a compound annual growth rate (CAGR) of 10% for revenue and 20% for net profit by 2028, supported by a diversified global business portfolio[120] - The company plans to actively seek suitable acquisition opportunities to significantly enhance organic growth over the next two to three years[120] Employee and Operational Expenses - Employee benefits expenses decreased slightly to HKD 122,204,000 in 2025 from HKD 123,470,000 in 2024, a reduction of 1.0%[72] - Selling expenses increased by 14.9% to HKD 41.8 million, representing 11.1% of total revenue, up from 9.9% in 2024[132] - Administrative expenses were HKD 48.8 million, consistent with the previous year, accounting for 12.9% of total revenue, down from 13.2%[134] Shareholder Information - The company proposed an interim dividend of HKD 0.0315 per share for the six months ended June 30, 2025, totaling HKD 10,102,239, compared to HKD 11,570,153 in 2024[83] - The company has not issued any further share-based payments since 2025, indicating a potential shift in compensation strategy[94] - The total issued shares as of June 30, 2025, were 320,706,000[156] - Dr. Jørn Slot Jørgensen holds a controlling interest of 57.65% in the company[152] Governance and Compliance - The company has maintained compliance with the corporate governance code as per the listing rules, with a review of governance procedures conducted[168] - The board believes that the current governance structure does not undermine the balance of power and authority within the company[169] - The audit committee reviewed the unaudited condensed consolidated results for the six months ended June 30, 2025, and had no objections to the accounting treatments adopted[178]
德视佳(01846) - 2025 - 中期财报