Operations and Services - As of September 30, 2022, the group operates eight nursing homes with a total of 1,129 beds across four strategic locations in Hong Kong[11]. - The group provides comprehensive elderly care services, including accommodation, professional nursing, and medical services[11]. - The group has contracts with the Social Welfare Department for the purchase of beds under the Improvement Purchase Scheme, which accounted for a significant portion of its clientele[15]. - The group has a total of 589 beds under the Improvement Purchase Scheme and 540 beds for private paying clients[15]. - The group aims to enhance its service offerings and expand its market presence in the elderly care sector[11]. - The company is focused on maintaining high standards in its facilities, with different classifications based on staffing and space requirements[16]. - The group has been actively involved in the development of new care services and products to meet the evolving needs of its clients[11]. - Future strategies include potential market expansion and the introduction of new technologies in elderly care services[11]. - The company provided community care services under a trial program, expanding its service scope to home-based care since May 2020[22]. - The company operates five approved service providers under the community care voucher trial program, with a total capacity of 120 center-based service slots and 1,000 home-based service voucher holders[22]. Financial Performance - Total revenue increased from HKD 150.3 million in the previous period to HKD 208.3 million in the current period, primarily due to active participation in providing care support services for isolated individuals[28]. - Revenue from care services for isolated individuals surged to HKD 96.2 million, accounting for 46.2% of total revenue, compared to HKD 30.9 million or 20.5% in the previous period[28]. - Net profit for the current period increased by approximately 30.1% to about HKD 57.1 million, compared to approximately HKD 43.9 million in the previous period[35]. - The company reported a revenue of HKD 208,279,000 for the six months ended September 30, 2022, compared to HKD 150,277,000 for the same period in 2021, representing an increase of approximately 38.7%[90]. - The profit before tax for the period was HKD 67,808,000, up from HKD 51,899,000 in the previous year, indicating a growth of about 30.7%[90]. - The total comprehensive income for the period was HKD 57,017,000, compared to HKD 43,699,000 in the previous year, showing an increase of approximately 30.4%[91]. - Basic earnings per share increased to HKD 5.72 from HKD 4.41, marking a rise of about 29.7%[90]. Employee and Operational Costs - Employee benefits expenses rose from approximately HKD 54.2 million to about HKD 78.1 million, mainly due to an increase in staff numbers for care support services[31]. - The total employee count decreased to 456 as of September 30, 2022, down from 596 on March 31, 2022, with total employee benefits expenses amounting to approximately HKD 78.1 million[52]. - The total remuneration for key management personnel was HKD 6,944,000 for the six months ended September 30, 2022, compared to HKD 4,151,000 in the previous year, marking an increase of approximately 67.0%[164]. - Depreciation expenses for the six months ended September 30, 2022, amounted to HKD 20,632,000, an increase from HKD 17,179,000 in the same period of the previous year[136]. - The depreciation of property and equipment was HKD 3,157,000 for the six months ended September 30, 2022, compared to HKD 2,966,000 in the previous year, reflecting an increase of approximately 6.4%[168]. Assets and Liabilities - As of September 30, 2022, the company's net assets increased to approximately HKD 325.2 million from HKD 292.2 million as of March 31, 2022[40]. - The current ratio improved to approximately 1.6 times as of September 30, 2022, compared to 1.5 times as of March 31, 2022[40]. - The debt-to-equity ratio decreased to approximately 60.0% as of September 30, 2022, down from 81.0% as of March 31, 2022[40]. - As of September 30, 2022, total assets amounted to HKD 665,565 thousand, an increase from HKD 621,617 thousand as of March 31, 2022, representing a growth of approximately 7.06%[93]. - Total liabilities rose to HKD 340,361 thousand from HKD 329,410 thousand, reflecting an increase of about 3.86%[95]. - The company reported a net cash inflow from operating activities of HKD 97,368 thousand, compared to HKD 69,223 thousand in the previous year, showing a growth of approximately 40.67%[99]. - The total lease liabilities as of September 30, 2022, were HKD 186,956,000, compared to HKD 197,837,000 as of March 31, 2022, reflecting a decrease of 5.4%[148]. Shareholder Information - The company declared an interim dividend of HKD 0.022 per share, to be distributed on or around December 9, 2022[38]. - The company proposed an interim dividend of HKD 0.022 per share, totaling HKD 22,000,000, compared to HKD 20,000,000 in the previous year[140]. - As of September 30, 2022, Ms. Wei holds 624,000,000 shares, representing 63.40% of the company's issued share capital[64]. - Mr. Wei holds 624,000,000 shares, representing 63.50% of the company's issued share capital[64]. - The total shares held by the family trust amount to 624,000,000, which is 62.40% of the issued share capital[71]. - Ms. Wei's spouse, Ms. Wei Xiaoling, holds 635,032,000 shares, representing 63.50% of the company's issued share capital[71]. - Mr. Lin holds 70,202,000 shares, which is 7.02% of the company's issued share capital[71]. Corporate Governance - The company maintained compliance with all corporate governance codes during the reporting period, ensuring transparency and accountability to shareholders[85]. - The audit committee, established in May 2019, oversees the integrity of financial statements and internal control systems, comprising four members with appropriate professional qualifications[88]. - All directors confirmed compliance with the standard code of conduct during the period[79]. - The company has not identified any breaches of the standard code of conduct by senior management during the period[79]. - The company is committed to high levels of corporate governance to protect shareholder interests and ensure effective business strategy execution[85]. Future Plans and Investments - The group plans to establish a new nursing home with approximately 250 beds, expected to commence operations in Q4 2023, following the acquisition of property in Lam Tin[60]. - A second nursing home is planned on four plots of land in Yuen Long, anticipated to provide around 280 beds and start operations by the end of 2025[60]. - The group is expanding into the medical diagnostics and imaging market, focusing on preventive healthcare services in response to increasing public awareness[61]. - The total unutilized net proceeds from fundraising activities amount to HKD 116.9 million, with specific allocations for upgrading existing facilities and IT infrastructure[56]. Risk Management - The group has not made any significant changes to its risk management policies since March 31, 2022[114]. - The group has no significant contingent liabilities as of the reporting date[49]. - The company had no significant capital commitments as of September 30, 2022, indicating a stable financial position[169]. - There were no significant contingent liabilities reported as of September 30, 2022, suggesting a low-risk profile[170].
嘉涛(香港)控股(02189) - 2023 - 中期财报