Financial Performance - Revenue decreased by 21.7% to HKD 485.9 million[2] - Profit attributable to equity holders was HKD 94.8 million, down 32.7% year-on-year, but up 43.4% from the previous six-month period[2] - Basic earnings per share were HKD 0.075[3] - Total comprehensive income for the period was HKD 110.3 million, compared to HKD 160.3 million in the previous year[4] - Total revenue for the six months ended September 30, 2025, was HKD 485,880,000, a decrease of 21.6% from HKD 620,272,000 in the same period of 2024[12] - The net profit attributable to equity holders for the six months ended September 30, 2025, was HKD 94,804,000, down 32.8% from HKD 140,844,000 in the same period of 2024[19] - Basic earnings per share for the period was HKD 0.075, a decrease from HKD 0.112 in the previous year[19] - EBITDA decreased by 26.7% to HKD 142.2 million, with an EBITDA margin of 29.3%, down from 31.3% in the previous period[49] - Operating profit decreased by 30.0% to HKD 111.0 million, with an operating profit margin of 22.8%, down from 25.6%[49] Dividend Information - Proposed interim dividend is HKD 0.076 per share, with a payout ratio of 101.3%[2] - The company continues to maintain a dividend payout ratio of 100% or above for eleven consecutive years[2] - The board proposed an interim dividend of HKD 0.076 per share for the six months ended September 30, 2025, to be paid on or around December 31, 2025[73] Assets and Liabilities - Non-current assets decreased from HKD 464.3 million to HKD 417.1 million[5] - Current assets increased from HKD 471.6 million to HKD 508.3 million, with cash and cash equivalents rising to HKD 326.0 million[5] - Total equity increased from HKD 378.7 million to HKD 423.5 million[6] - Total liabilities decreased from HKD 557.2 million to HKD 501.9 million[6] - Non-current assets in Hong Kong totaled HKD 236,911,000, a decrease from HKD 274,354,000 as of March 31, 2025[12] - Non-current assets outside Hong Kong were HKD 62,139,000, down from HKD 79,417,000 as of March 31, 2025[12] - Cash and cash equivalents totaled HKD 326,007,000 as of September 30, 2025, compared to HKD 249,074,000 on March 31, 2025[28] Revenue Breakdown - Revenue from Hong Kong was HKD 386,847,000, down 22.3% from HKD 497,803,000 year-on-year[12] - Revenue from regions outside Hong Kong was HKD 99,033,000, a decrease of 19.1% compared to HKD 122,469,000 in the previous year[12] - Revenue from the Hong Kong market accounted for 79.6% of total revenue at HKD 386.8 million, while revenue from regions outside Hong Kong was HKD 99.0 million, representing 20.4% of total revenue[46] - Revenue declined by 22.3% year-on-year to HKD 386.8 million, but only a 2.3% decrease compared to the previous six months[52] - Revenue from operations outside Hong Kong amounted to HKD 99.0 million, accounting for 20.4% of the group's total revenue, down from HKD 122.5 million in the same period last year[56] Cost Management - Key cost components showed a significant reduction, with employee benefits expenses decreasing by 23.1% to HKD 167.2 million and marketing expenses down by 29.3% to HKD 54.6 million[47] - Cost optimization measures led to a 33.8% decrease in inventory and consumables costs to HKD 6.9 million, reflecting a decline in treatment volume and favorable supplier terms[48] - Employee benefits expenses decreased by 23.1% to HKD 167.2 million due to staff adjustments following center integration, ensuring service quality remained unaffected[48] - The group has implemented strict cost control measures to improve operational efficiency, which has helped maintain profit margins despite revenue declines[41][42] Strategic Initiatives - The group is focusing on enhancing customer retention and lifetime value in the mainland China market, rather than pursuing aggressive expansion strategies[40][41] - The group has transitioned several strategic initiatives, including the launch of cost-effective medical beauty services and digital marketing driven by artificial intelligence, from planning to implementation[44] - The company launched its first "Oracle" service center in October 2025, targeting tech-savvy millennials and Gen Z consumers with innovative skincare solutions[54] - The new flagship center in Tsim Sha Tsui successfully opened, enhancing customer traffic and average transaction value[51] - The group plans to enhance AI-driven marketing and digital capabilities, and cautiously expand complementary services such as Oracle and Goku Spa to attract new customers[71] Employee Information - The group employed a total of 840 employees as of September 30, 2025, down from 971 employees on March 31, 2025[66] Financial Position - The group maintained a strong financial position with bank balances and cash of HKD 425.0 million as of September 30, 2025, compared to HKD 394.6 million on March 31, 2025[58] - Net cash generated from operating activities was HKD 156.2 million, a decrease from HKD 203.4 million in the previous interim period[59] - Capital expenditures totaled HKD 14.9 million, primarily for lease renovations and equipment necessary for expanding the service network[60] Shareholder Information - The company had a total of 1,256,197,000 shares outstanding with a share premium of HKD 194,371,000 as of September 30, 2025[29] - Dr. Ouyang Jiang holds a beneficial interest in 114,834,747 shares, representing 75.18% of the shares he controls[76] - Sure Sino Investments Limited owns 459,739,481 shares, accounting for 36.59% of the total issued shares[82] - The company will suspend the registration of share transfers on December 16, 2025, to qualify for the interim dividend[75] Corporate Governance - The company has adhered to all provisions of the Corporate Governance Code during the reporting period, except for the combined roles of Chairman and CEO held by Dr. Ouyang Jiang[90] - The Audit Committee, established on December 5, 2011, is responsible for reviewing financial information and overseeing the financial reporting process[91] - The Remuneration Committee, also established on December 5, 2011, provides recommendations on the remuneration policies for all directors and senior management[92] - The Nomination Committee, formed on December 5, 2011, evaluates the independence of independent non-executive directors and reviews board diversity policies[93] - The board of directors includes executive directors Dr. Ouyang Jiang, Ms. Ouyang Hui, Ms. Ouyang Hong, and Mr. Su Xianlong, as well as independent non-executive directors Ms. Xu Huimin, Ms. Cao Yiping, Mr. Ji Zhixiong, and Mr. Qi Shichang[94]
完美医疗(01830) - 2026 - 中期业绩