Financial Performance - For the six months ended September 30, 2023, the company's revenue was approximately HKD 101.6 million, a decrease of about HKD 6.1 million or 5.6% compared to HKD 107.7 million for the same period in 2022[5]. - The company reported a loss of HKD 20.0 million for the six-month period, compared to a profit of HKD 7.9 million in the previous year, indicating a significant decline in profitability[5]. - The company recorded a loss of approximately HKD 20.0 million for the six months ended September 30, 2023, a decrease of HKD 27.9 million compared to a profit of HKD 7.9 million in the same period of 2022[56]. - For the six months ended September 30, 2023, the company reported a loss attributable to owners of HKD 20,019,000, compared to a profit of HKD 7,912,000 for the same period in 2022[155]. Revenue Breakdown - Revenue from refractive surgery decreased by HKD 13.1 million, accounting for 57.1% of total revenue, down from 66.0% in the previous year[21]. - The revenue from SMILE surgery dropped by HKD 15.8 million, representing 30.5% of total revenue, compared to 43.4% in the prior year[21]. - Total revenue from refractive treatments decreased by approximately HKD 13.1 million or 18.4% to about HKD 58.0 million, attributed to economic downturn and increased competition[31]. - Revenue from other eye problem treatments increased by approximately HKD 2.2 million or 7.9% to about HKD 30.1 million, accounting for 29.6% of total revenue[32]. - Revenue from diagnosis and examination services rose by approximately HKD 0.9 million or 17.3% to about HKD 6.1 million, due to an increase in standard fees[32]. - Revenue from multifocal intraocular lens replacement and implantable contact lens procedures increased by approximately HKD 3.4 million or 15.2% to about HKD 25.8 million, driven by an increase in the number of procedures[25]. - The company has introduced a new service for children's myopia prevention, generating HKD 3.1 million in revenue during the reporting period[21]. Operating Expenses - Operating expenses have increased due to the expansion and opening of the new center, but the company remains committed to maintaining financial discipline and optimizing its cost structure[9]. - Employee benefits expenses increased from approximately HKD 23.7 million to HKD 29.2 million, representing 28.7% of total revenue, due to the opening of a new center[28]. - Consultant fees increased from approximately HKD 31.1 million to HKD 41.1 million, accounting for 40.5% of total revenue, due to the expansion of the medical team[35]. - Business development expenses surged from approximately HKD 3.5 million in 2022 to HKD 8.9 million in 2023, primarily due to promotional efforts for the new Tsim Sha Tsui center[37]. - The company incurred share-based payment expenses of HKD 1,987,000 for the six months ended September 30, 2023, compared to none in the previous year[111]. Cash Flow and Liquidity - As of September 30, 2023, the company had cash and cash equivalents of HKD 160.8 million, down from HKD 207.5 million as of March 31, 2023[64]. - The net cash flow from operating activities for the six months ended September 30, 2023, was HKD 7.6 million, compared to HKD 17.7 million for the same period in 2022[84]. - The net cash flow from operating activities was a negative HKD 7,639,000, compared to a positive HKD 17,707,000 in the same period of 2022, representing a decline of approximately 143.2%[94]. - The net cash flow used in investing activities was HKD 34,329,000 for the six months ended September 30, 2023, significantly lower than HKD 205,410,000 in the prior year, indicating a reduction of about 83.3%[94]. - The cash flow from financing activities was a net outflow of HKD 11,871,000 for the current period, contrasting sharply with a net inflow of HKD 67,000 in the same period last year[94]. Capital Expenditures and Investments - Capital expenditures increased significantly from approximately HKD 3.0 million in 2022 to HKD 36.0 million in 2023, primarily for purchasing equipment and renovating leased properties[57]. - The company plans to acquire equity interests in ophthalmology clinics, outpatient departments, or hospitals in China to expand its "Clear" brand business[63]. - The company plans to acquire interests in ophthalmology-related businesses to achieve sustainable growth and strengthen its market position[81]. - The company has contracted but unrecognized capital expenditures of approximately HKD 1.3 million as of September 30, 2023, primarily for the establishment of new centers[75]. Market Outlook and Growth Strategy - The company has identified long-term growth drivers such as an aging population and increased use of electronic devices, which are expected to sustain demand for private ophthalmic services[8]. - The overall market environment remains challenging, but the company is optimistic about the long-term prospects of the industry[8]. - The company aims to achieve sustainable growth through careful expense management and efficiency measures while providing excellent ophthalmic medical services[9]. Shareholder Information - The company does not recommend the payment of an interim dividend for the six months ended September 30, 2023[79]. - The company plans to issue reward shares to executives, with a total of 3,100,000 shares held by trustees under the share reward plan, representing approximately 0.6% of the total issued share capital[110]. - The group reported a diluted earnings per share of HKD 1.5 for the six months ended September 30, 2023, based on a weighted average number of ordinary shares of 524,542,574[132]. Compliance and Governance - The company confirmed compliance with the standard code of conduct for directors during the interim period of 2023[177]. - The board's audit committee consists of three independent non-executive directors, ensuring governance and oversight[178].
清晰医疗(01406) - 2024 - 中期财报