Financial Performance - Revenue for the year ended June 30, 2022, was HK$665,859,000, an increase of 8% from HK$616,361,000 in 2021[9] - EBITDA for the same period was HK$167,130,000, reflecting a 4% increase from HK$161,423,000 in 2021[10] - Profit attributable to owners of the company from continuing operations was HK$70,502,000, a 7% increase from HK$66,066,000 in 2021[10] - Total profit, including discontinued operations, was HK$72,168,000, representing a 107% increase from HK$34,834,000 in 2021[10] - Basic earnings per share increased to 9.34 HK cents, up 104% from 4.58 HK cents in 2021[10] - Proposed final dividend per share is 3.00 HK cents, a 7% increase from 2.80 HK cents in 2021[10] - Total revenue from continuing operations for FY2022 was approximately HK$665.9 million, representing an 8.0% increase compared to FY2021[26] - Profit attributable to owners of the Company for FY2022 was HK$72.2 million, reflecting an increase of over 100% compared to FY2021[26] - Basic EPS for FY2022 was HK$9.34, with a CAGR of 16.68% from FY2018 to FY2022[16] - Total revenue for the Group was HK$671.958 million, an increase of 7.9% from HK$622.765 million[98] Cash Flow and Assets - Cash and pledged deposits decreased by 20% to HK$238,120,000 from HK$295,867,000 in 2021[10] - Cash balance at the end of FY2022 was HK$295.9 million[17] - The Group's current assets were HK$432.8 million and current liabilities were HK$194.5 million, resulting in net current assets of HK$238.3 million and a current ratio of 2.23, indicating strong liquidity[128][129] - Cash and cash equivalents as of June 30, 2022, totaled HK$235.7 million, with no bank borrowings or outstanding loans[130][132] - The Group's gearing ratio was zero as of June 30, 2022, reflecting no net debt[133][134] Operational Highlights - The company has repositioned its presence in the PRC and continues to operate clinical and immigration medical exam services in Beijing and Shanghai[33] - Telemedicine services were offered since 2020, allowing patients to receive medical help during the pandemic[32] - The company administered COVID-19 vaccines at its medical clinics, supporting the Hong Kong government's vaccination efforts[31] - The company engaged in pandemic relief initiatives to support the community during the COVID-19 crisis[25] - The company reported a strong positive operating cash flow, enabling flexibility in growth despite economic challenges[37] - The company opened its first cardiometabolic center in Central and expanded its service area with a new multi-storey integrated medical center to attract high-end B2C market patients[38][42] - The UMP Network comprises approximately 1,000 points of services located across Hong Kong and Macau as of June 30, 2022[52] - The Group operates 12 advanced imaging and laboratory centers in Hong Kong, recognized by HOKLAS for quality[56] Market Strategy and Expansion - The company aims to broaden market shares in both B2B and B2C segments, focusing on value-based healthcare to cater to an aging population[40][43] - The COVID-19 pandemic accelerated the adoption of virtual care and digital engagement, with telemedicine now being a regular service offered[41][43] - The company is optimistic about resuming commuting for Greater Bay Area residents and plans to open new centers in prime districts to meet the demand for cross-border medical care[45][48] - Strategic relationships with medical groups, insurance companies, and hospitals have been established to enhance service referrals and network expansion[39][42] - The Group is actively exploring expansion opportunities to enhance its market position in the clinical imaging and laboratory business[78] Challenges and Risks - Revenue for Hong Kong & Macau Corporate Healthcare Solution Services increased by 2.0% from HK$232.4 million to HK$237.0 million, while operating profit decreased by 38.8% from HK$57.7 million to HK$35.3 million due to COVID-19 impacts[62] - Revenue for Hong Kong & Macau Clinical Healthcare Services rose by 11.4% from HK$449.3 million to HK$500.4 million, but operating profit fell by 14.9% from HK$80.6 million to HK$68.6 million, primarily due to increased operating expenses[68] - The Group continues to face challenges from COVID-19 variants but remains committed to upgrading its operating systems through technology investments[67] Investments and Acquisitions - The Group has invested in digitalization, creating a fully digital medical journey with self-invented electronic medical cards and claim vouchers to enhance service quality and reduce physical contact[67] - The Group acquired multi-service medical and treatment facilities in May 2022, enabling operations of day-surgeries, preventive health check-ups, and specialist consultations[72] - The acquisition includes state-of-the-art medical facilities suitable for day surgeries, preventive health check-ups, and vaccinations[78] - The Group's shareholding in UMP Healthcare China Limited decreased from 80% to 25% following the reorganisation, ceasing control over the company[93] Management and Leadership - Dr. Sun has over 45 years of experience in family medicine and is a founding fellow of the Hong Kong College of Family Physicians[172] - Ms. Kwok has over 25 years of experience in health schemes management and is responsible for overall management and business development of the Group[178] - Mr. Patrick Tsang has over 25 years of international capital markets experience and is responsible for strategic directions on cooperations with business stakeholders globally[184] - The Group's management team is focused on enhancing operational efficiency and expanding business activities[178] - The Group's directors include experienced professionals from various sectors, enhancing its strategic capabilities[184]
联合医务(00722) - 2022 - 年度财报