Financial Performance - The company's revenue for the period was approximately HKD 90,146,000, an increase of about 28.27% compared to HKD 70,281,000 in the same period last year, driven by growth in the hemodialysis business[6] - The company reported an operating loss of approximately HKD 2,506,000 for the period, compared to a profit of HKD 414,000 in the previous year[6] - Basic and diluted loss per share was approximately HKD 0.45, compared to earnings of HKD 0.07 per share in the previous year[8] - The company experienced a comprehensive loss of HKD 13,425,000 for the period, compared to a comprehensive income of HKD 4,003,000 in the previous year[8] - The company reported a net cash inflow from operating activities of HKD 13,905,000 for the six months ended September 30, 2022, compared to a net outflow of HKD 9,504,000 for the same period in 2021[23] - The total comprehensive loss for the period was HKD 13,425,000, which included a loss of HKD 2,506,000 and other comprehensive losses of HKD 10,917,000[17] - The group reported a net loss attributable to shareholders of approximately HKD 2,506,000, compared to a profit of approximately HKD 414,000 in the previous year[70] Assets and Liabilities - The total assets of the company as of September 30, 2022, were approximately HKD 179,252,000, down from HKD 191,818,000 as of March 31, 2022[10] - Non-current assets decreased from HKD 110,365,000 to HKD 97,829,000 during the same period[10] - Current liabilities increased to HKD 49,101,000 from HKD 45,468,000, with trade and other payables being HKD 28,844,000[11] - The company's equity attributable to owners decreased from HKD 126,179,000 to HKD 112,757,000[10] - The total liabilities of the group as of September 30, 2022, were HKD 64,580,000, compared to HKD 63,722,000 as of March 31, 2022, showing a slight increase[38] Cash Flow - Total cash and cash equivalents as of September 30, 2022, were approximately HKD 13,204,000, up from HKD 5,768,000 as of March 31, 2022[6] - The cash and cash equivalents increased by HKD 17,542,000 during the six months ended September 30, 2022, compared to a decrease of HKD 16,158,000 in the same period of the previous year[23] - The company had a financing cash inflow of HKD 4,079,000 for the six months ended September 30, 2022, compared to an outflow of HKD 1,452,000 in the previous year[23] - The company’s accumulated losses as of September 30, 2022, stood at HKD 867,246,000, an increase from HKD 864,740,000 on April 1, 2022[17] Revenue Segments - The group operates in two main segments: pharmaceutical wholesale and distribution, and hemodialysis treatment and consulting services, with revenues of HKD 27,560,000 and HKD 62,586,000 respectively for the current period[33] - Revenue from the pharmaceutical wholesale and distribution business was approximately HKD 27,560,000, an increase of about 6.43% from HKD 25,895,000 in the previous year[55] - Revenue from the hemodialysis treatment and consulting services business increased by approximately 41%, reaching HKD 62,586,000 compared to HKD 44,386,000 in the previous year[57] - Revenue from the blood dialysis business was approximately HKD 62,586,000, representing an increase of about HKD 18,200,000 or approximately 41% year-on-year, driven by an increase in the number of patients treated[62] Expenses and Costs - Selling and distribution expenses increased by approximately HKD 4,544,000 or about 33.77% to approximately HKD 17,999,000, primarily due to increased marketing and logistics costs[66] - The financial expenses for the six months ended September 30, 2022, were HKD 938,000, up from HKD 662,000 in the same period of 2021, reflecting increased borrowing costs[40] - The group’s employee costs, including director remuneration, increased to HKD 16,810,000 for the six months ended September 30, 2022, compared to HKD 10,495,000 in the same period of 2021, representing a rise of 60.1%[39] Corporate Governance - The company has maintained a high level of corporate governance and has fully complied with the corporate governance code during the reporting period[105] - The Remuneration Committee, established on September 24, 2013, includes one executive director and three independent non-executive directors, responsible for determining the remuneration packages of all executive directors[107] - The Nomination and Corporate Governance Committee, also established on September 24, 2013, is tasked with reviewing the board's structure and recommending changes as necessary[108] - The Audit Committee, formed on September 24, 2013, oversees the integrity of the company's financial statements and the effectiveness of internal controls[110] Shareholder Information - As of September 30, 2022, Mr. Wang holds a total equity interest of 163,155,611 shares, representing approximately 29.12% of the issued shares[90] - The company’s major shareholder, Weiyang Investment Development Limited, holds 156,862,198 shares, accounting for approximately 28.00% of the total issued shares[95] - The total number of unexercised share options granted to directors and employees amounts to 30,473,892 shares, which is approximately 5.43% of the total issued shares[97] - Employees were granted a total of 14,570,000 share options, representing approximately 2.60% of the total issued shares[97] Operational Changes - The company terminated operations at the blood dialysis treatment center in Xianyou, Fujian, due to the inability of Xianyou Boai Hospital to pay its share of profits, resulting in a legal claim for approximately RMB 3,564,000[84] - The management agreement with Zhuhai Kowloon Hospital was terminated, with the hospital agreeing to refund a deposit of RMB 11,000,000 within three months[87] - The company has received all 31 blood dialysis machines back from Xianyou Boai Hospital, indicating no further operational collaboration[85] - The company is in the process of negotiating an early termination agreement with Xianyou Boai Hospital upon receipt of all outstanding payments[85]
万嘉集团(00401) - 2023 - 中期财报