Financial Performance - The group's revenue for the six months ended September 30, 2023, was approximately HKD 58.1 million, a decrease of about HKD 0.6 million compared to the same period in 2022[8]. - The net loss attributable to the owners of the company for the six months ended September 30, 2023, was approximately HKD 2.3 million, compared to a net loss of approximately HKD 45,000 in the same period of 2022[8]. - Total comprehensive loss for the period amounted to HKD 2.32 million, compared to a total comprehensive income of HKD 212,000 in the same period of 2022[15]. - Basic and diluted loss per share for the period was HKD 5.457, compared to HKD 0.107 in the same period of 2022[15]. - The group reported a loss before tax of HKD 2,283,000 for the six months ended September 30, 2023, compared to a loss of HKD 187,000 in the same period last year[42]. - The company reported a loss of HKD 2,270 thousand for the period, compared to a loss of HKD 45 thousand in the same period last year[21]. Revenue Breakdown - Total revenue for the six months ended September 30, 2023, was HKD 58,083,000, a decrease of 1.1% compared to HKD 58,723,000 for the same period in 2022[35]. - Dental service revenue from contract clients (mainly enterprises and insurance companies) was HKD 19,119,000, up 41.5% from HKD 13,485,000 in the previous year[39]. - Revenue from dental services provided to self-paying patients was HKD 24,992,000, down 27.8% from HKD 34,617,000 in the previous year[39]. - Revenue from medical solutions provided to contract clients increased by 41.8% to approximately HKD 19.1 million, driven by an increase in consultation frequency[64]. - Revenue from self-paying patients for medical services rose by 43.5% to approximately HKD 12.2 million, mainly due to increased demand for medical consultation services[64]. - Revenue from dental solutions provided to contract clients decreased by 15.9% to approximately HKD 1.8 million, attributed to a reduction in the number of contract clients[64]. - Revenue from self-paying patients for dental services fell by 27.8% to approximately HKD 25.0 million, primarily due to a decrease in the number of patients seeking follow-up dental services[64]. Expenses and Costs - Medical and dental professional service expenses increased to HKD 25.269 million from HKD 21.463 million year-on-year[14]. - Employee costs decreased to HKD 17.586 million from HKD 18.762 million year-on-year[14]. - The group incurred total employee costs of HKD 17,586,000, a decrease from HKD 18,762,000 in the previous year[42]. - Medical and dental professional service expenses increased by 17.7% to approximately HKD 25.3 million, due to higher payments to network doctors and third-party laboratories[66]. - Employee costs decreased by approximately 6.4% to HKD 17.6 million, primarily due to a reduction in the number of employees[68]. Assets and Liabilities - As of September 30, 2023, total assets amounted to HKD 48,798 thousand, an increase from HKD 42,875 thousand as of March 31, 2023, reflecting a growth of approximately 13.9%[17]. - Total liabilities increased to HKD 36,801 thousand as of September 30, 2023, compared to HKD 27,686 thousand as of March 31, 2023, indicating a rise of approximately 33.0%[19]. - The company's net asset value decreased to HKD 9,007 thousand from HKD 11,329 thousand, a decline of about 20.5%[19]. - The total amount of accounts receivable and other receivables increased to HKD 12,711,000 as of September 30, 2023, from HKD 10,355,000 as of March 31, 2023, representing a growth of approximately 21.3%[49]. - The total accounts payable increased to HKD 14,706,000 as of September 30, 2023, from HKD 13,515,000 as of March 31, 2023, reflecting an increase of approximately 8.8%[52]. Cash Flow and Financing - The company's cash and cash equivalents increased to HKD 19,946 thousand from HKD 15,574 thousand, representing a growth of 28.5%[22]. - The net cash generated from operating activities for the six months ended September 30, 2023, was HKD 770 thousand, a significant decrease from HKD 8,817 thousand in the same period of 2022[22]. - The company raised new bank loans amounting to HKD 9,000 thousand during the financing activities[22]. - The company raised new bank borrowings of HKD 9,000,000 during the six months ended September 30, 2023, compared to no new borrowings in the same period of 2022[55]. Corporate Governance - The board of directors did not recommend the payment of an interim dividend for the six months ended September 30, 2023[8]. - The company did not declare any interim dividend for the six months ended September 30, 2023, consistent with the same period in 2022[45]. - The board is committed to maintaining high standards of corporate governance, which is essential for protecting shareholder interests and enhancing corporate value[93]. - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15, establishing a framework for governance practices[93]. - The company has complied with the corporate governance code, except for the deviation in clause C.2.1, which states that the roles of Chairman and CEO should be separated[95]. - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023[102]. - The audit committee consists of three independent non-executive directors, with Mr. Leung Po-Hon serving as the chairman[101]. Employee Information - As of September 30, 2023, the group had a total of 89 employees, down from 100 employees as of September 30, 2022[83]. - The company’s short-term employee benefits for key management personnel amounted to HKD 3,342,000 for the period, slightly down from HKD 3,386,000 in the previous year[59]. - The company’s employee compensation is reviewed annually based on performance assessments and market competitiveness[83].
医汇集团(08161) - 2024 - 中期财报