Financial Performance - The company reported a revenue of $294.294 million for the year 2021, a significant increase of 81.6% compared to $162.095 million in 2020[3]. - Gross profit for 2021 was $166.861 million, representing a gross margin of 56.7%, up from 55.7% in 2020[3]. - The net profit attributable to shareholders for 2021 was $31.245 million, which is a 134.5% increase from $13.344 million in 2020[3]. - Total assets increased to $530.132 million in 2021, up from $431.806 million in 2020, marking a growth of 22.8%[4]. - The company's total liabilities rose to $126.507 million in 2021, compared to $99.917 million in 2020, reflecting a 26.6% increase[4]. - Cash and bank balances reached $153.062 million in 2021, an increase of 31.3% from $116.527 million in 2020[4]. - The adjusted net profit for the year was $40.3 million, a 100.0% increase compared to the previous year[28]. - The net profit for the year increased by 121.5% to $32.5 million, compared to $14.7 million in the same period last year, with net profit margins of 11.1% and 9.1% respectively[52]. - Total comprehensive income for the year was $32.103 million, compared to $16.685 million in 2020, showing a 92.2% increase[173]. - The company reported a pre-tax profit of $41.672 million, significantly higher than $16.662 million in 2020, representing a 150.0% increase[172]. Market Expansion and Strategy - The beauty and wellness market, which the company is targeting, reached a size of $4.4 trillion in 2020, indicating significant growth potential[10]. - The company aims to become an industry leader in the beauty and wellness market, expanding its business scope to cover various aspects of consumer health and wellness[10]. - The company plans to strategically focus on expanding direct operations in key markets in 2022, improving digital infrastructure, and increasing brand awareness globally[17]. - Revenue in North America more than doubled, while the Asia-Pacific region's revenue nearly doubled, Latin America grew by approximately 80%, and Europe, the Middle East, and Africa saw nearly 50% growth[14]. - The company plans to expand its market presence through new product development in medical aesthetics and dental equipment, as well as through strategic acquisitions[180]. Product Development and Innovation - The medical aesthetics business line led by Alma achieved a revenue growth of 70% in 2021, launching two new products: Alma Duo and Alma PrimeX[13]. - The injection filling business line saw a year-on-year revenue increase of 50%, with two new products in the pipeline aimed at changing the industry landscape, currently in research and clinical study phases[14]. - The personal care brand LMNT aims to enhance consumer health through daily personal care products, with the first product, LMNT one, set to launch in March 2022, utilizing clinically validated laser wavelengths[16]. - The company has developed unique innovative technologies to meet diverse market demands and provide reliable solutions to consumers[8]. - The company launched two new products during the reporting period: "Alma Duo" and "Alma PrimeX," aimed at enhancing clinical treatment and body shaping[29]. Research and Development - Research and development investment reached $11 million in 2021, reflecting a commitment to innovation[24]. - R&D investment increased by 42.3% year-on-year, with 13% of employees being R&D specialists[29]. - The company conducted 24 clinical and preclinical studies, including 11 commissioned studies and 13 investigator-initiated trials[29]. - Research and development expenses increased to $15.594 million from $10.957 million, a rise of 42.5%[172]. Corporate Governance and Compliance - The board of directors is committed to high standards of corporate governance, which is essential for protecting shareholder interests and enhancing corporate value[115]. - The company has adopted a corporate governance manual to ensure compliance with listing rules, including related party transactions and insider trading[138]. - The independent non-executive directors play a crucial role in overseeing the company's strategic direction and risk management[153]. - The company has established three committees: the audit committee, the remuneration committee, and the nomination committee, each with specific written terms of reference[122]. Financial Management and Investments - The company is focused on protecting its financial assets and corporate value during challenging times[29]. - The company issued shares worth $79,177,000 during the year, contributing to the increase in equity[175]. - Cash flow from operating activities was $32.4 million, reflecting strong revenue performance compared to the previous year[63]. - The company invested approximately 4.7% or HKD 35.90 million in increasing clinical research funding in the US[81]. Human Resources and Employee Engagement - The company experienced a 44.9% increase in employee count, hiring 147 new employees, bringing the total to 703[76]. - The company emphasizes the importance of human resources by providing a fair work environment, competitive compensation, and various career advancement opportunities based on employee performance[112]. - The company prioritizes customer satisfaction and has established mechanisms to handle customer service, support, and complaints, viewing complaints as opportunities for improvement[112]. Environmental and Social Responsibility - The company is committed to improving environmental performance through eco-friendly operational measures and has signed multiple external charters to enhance energy efficiency and reduce carbon emissions[109]. - The company actively collaborates with business partners, including suppliers and contractors, to provide high-quality sustainable products and services[112]. Shareholder Communication and Relations - The company emphasizes effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[144]. - The company has established a shareholder communication policy to ensure that shareholder opinions and concerns are adequately addressed[146]. - The company encourages shareholders holding at least 1% of shares to submit written inquiries or requests to the board[143].
复锐医疗科技(01696) - 2021 - 年度财报