Financial Performance - The company reported a net profit of HKD 20,492,000 for the year ending December 31, 2023, compared to a loss of HKD 119,145,000 in the previous year[18]. - Basic earnings per share improved to HKD 1.22 from a loss of HKD 16.94 per share year-over-year[4]. - Total comprehensive income for the year was HKD 22,192,000, a significant recovery from a total comprehensive loss of HKD 138,397,000 in the prior year[6]. - The company recorded a tax expense of HKD 15,077,000 for the year 2023, significantly higher than HKD 1,463,000 in 2022[7]. - The company reported a profit attributable to shareholders of HKD 11.295 million for 2023, a significant recovery from a loss of HKD 123.574 million in 2022[84]. - Total revenue for the group reached HKD 1,572,305,000, an increase of approximately 9.35% from HKD 1,437,863,000 in 2022, with a profit attributable to shareholders of HKD 11,295,000, recovering from a loss of HKD 123,574,000 in the previous year[107]. - The group recorded revenue growth to HKD 1,521,859,000 for the medical segment, up from HKD 1,382,134,000 in 2022, and profit increased to HKD 85,839,000 from HKD 12,828,000 in 2022[97]. - The gross profit for the year was HKD 286,220,000, compared to HKD 265,556,000 in the previous year, reflecting a positive trend in profitability[145]. Revenue Sources - The company recognized government grants of HKD 10,125,000, up from HKD 5,521,000 in the previous year, primarily related to hospital operations in China[37]. - The company’s revenue from bank deposits increased to HKD 24,466,000 from HKD 3,806,000 year-over-year[37]. - The company's income from property development decreased to HKD 125,000 in 2023, down from HKD 732,000 in 2022, with losses reduced to HKD 2,065,000 from HKD 24,329,000[59]. - Rental income from investment properties in Hong Kong and China was HKD 5,124,000 in 2023, slightly down from HKD 5,188,000 in 2022, while profit increased to HKD 4,481,000 from a loss of HKD 9,397,000[62]. - The group's elder care division reported a revenue decline to HKD 41,716,000 for the year ended December 31, 2023, down from HKD 49,787,000 in 2022, with a loss of HKD 46,684,000 compared to HKD 51,169,000 in 2022[77]. Investment and Assets - The carrying value of the investment property portfolio increased to HKD 207,920,000 in 2023, compared to HKD 207,003,000 in 2022[62]. - The value of development properties available for sale decreased to HKD 36,826,000 in 2023 from HKD 38,204,000 in 2022[59]. - The group’s non-current assets as of December 31, 2023, amounted to HKD 2,256,627,000, an increase from HKD 2,199,101,000 in 2022[139]. - The company’s investment properties decreased to HKD 545,920,000 in 2023 from HKD 557,089,000 in 2022, a decline of approximately 2.2%[160]. - The company’s total assets as of December 31, 2023, amounted to HKD 3,617,395,000, up from HKD 3,232,534,000 in 2022, reflecting an increase of approximately 11.9%[160]. Liabilities and Financial Position - Total borrowings reached HKD 760,050,000 as of December 31, 2023, down from HKD 933,603,000 in 2022, indicating a reduction in leverage[140]. - The company’s total liabilities decreased to HKD 2,256,627,000 in 2023 from HKD 2,199,101,000 in 2022, reflecting a decrease of approximately 2.6%[160]. - Current liabilities increased to HKD 1,144,872 thousand in 2023 from HKD 1,130,718 thousand in 2022, reflecting a growth of 1.9%[165]. - The debt ratio, calculated as net borrowings divided by total equity, was approximately -8.6% as of December 31, 2023, compared to 20.2% in 2022, indicating a strong improvement in financial leverage[150]. Operational Developments - The company plans to continue expanding its operations in China, focusing on property development and financial services[15]. - The company is evaluating the impact of new accounting standards on its financial reporting, with no significant effects anticipated at this time[13]. - The company has initiated a share consolidation, merging every 20 existing shares into 1 new share, effective February 24, 2023[141]. - The company has not repurchased any shares during the review year, maintaining its capital structure[142]. - The company plans to expand its service offerings into preventive medicine and rehabilitation, aiming to enhance its healthcare service coverage[173]. Future Plans and Strategies - The company plans to advance the construction of key specialties at Kunming Hospital, including pathology, oncology, and rehabilitation medicine, with a physical space adjustment of no less than 300 square meters and a reserve of 5 personnel for the pathology department[183]. - The company aims to establish multiple medical alliances and introduce renowned ophthalmology experts at Nanjing Renshan Comprehensive Outpatient Clinic, enhancing its service offerings in the ophthalmology market[189]. - The company will strengthen marketing efforts in 2024, establishing referral partnerships with surrounding hospitals and community health service centers to increase occupancy rates in nursing homes and elderly care facilities[190]. - The company is committed to advancing the second phase of Kunming Hospital, focusing on the development of oncology and nuclear medicine disciplines, which are strategic projects for the company[192]. - The company plans to enhance the operational strategy of surgical departments at Nanjing Hospital by inviting experts from top hospitals to provide services, thereby improving surgical skills and patient care[194].
中国医疗网络(00383) - 2023 - 年度业绩