Financial Performance - For the year ended December 31, 2023, the total number of cases achieved increased by 33.2% to approximately 245,000 cases from about 183,900 cases for the year ended December 31, 2022[3]. - Revenue for the year ended December 31, 2023, was approximately RMB 1,476.0 million, an increase of 16.2% from approximately RMB 1,269.7 million for the year ended December 31, 2022[3]. - Gross profit for the year ended December 31, 2023, was approximately RMB 920.7 million, up 17.2% from approximately RMB 785.7 million for the year ended December 31, 2022, with a gross margin of approximately 62.4%[4]. - Adjusted net profit for the year ended December 31, 2023, was approximately RMB 178.9 million, a decrease of 16.0% from approximately RMB 213.0 million for the year ended December 31, 2022, primarily due to investments in international business[4]. - The domestic market's adjusted profit increased by 29.9% to approximately RMB 256.2 million for the year ended December 31, 2023, compared to approximately RMB 197.3 million for the year ended December 31, 2022[4]. - The international market revenue for the year ended December 31, 2023, was approximately RMB 145.3 million[4]. - The net cash generated from operating activities for the year ended December 31, 2023, was approximately RMB 165.9 million, an increase of 12.9% from approximately RMB 146.9 million for the year ended December 31, 2022[4]. - The adjusted EBITDA for the year ended December 31, 2023, was RMB 58.7 million, down from RMB 276.4 million for the year ended December 31, 2022[8]. - The company reported a net profit of RMB 48,649 thousand for the year ended December 31, 2023, compared to RMB 213,157 thousand in 2022, showing a decrease of about 77.2%[128]. Market Expansion and International Operations - The company has successfully entered over 30 countries and regions since officially launching international operations in 2023[3]. - International business achieved 33,000 cases, marking significant growth as the company expands into global markets, including Brazil through the acquisition of ADITEK DO BRASIL S.A.[13]. - The company transitioned from a distribution model to a direct sales model in the Australia-New Zealand market, enhancing local business support[14]. - The acquisition of Aditek in Brazil has led to significant growth in its invisible orthodontics business, supported by the establishment of over 50 doctor learning clubs[14]. Research and Development - The company invested RMB 173.6 million in R&D, accounting for 11.8% of total revenue[17]. - The company launched the angelLink system in June 2023 to enhance clinical efficiency for orthodontists, addressing complex clinical challenges[11]. - A new generation KiD anterior traction solution was introduced, combining dental alignment with maxillary anterior traction, targeting early orthodontic treatment for children[12]. - The company upgraded its iOrtho cloud service platform in 2023, improving integration capabilities and local market adaptation[15]. - The company launched a series of 3D design and modification tools to enhance the precision of orthodontic treatment plans[16]. Financial Position and Cash Flow - Cash and cash equivalents decreased from RMB 3,649.4 million as of December 31, 2022, to RMB 2,689.5 million as of December 31, 2023, primarily due to investments in financial products[44]. - The company reported a net foreign exchange gain of RMB 11.4 million for the year ended December 31, 2023, compared to RMB 7.1 million for the year ended December 31, 2022[46]. - The company’s cash flow from operating activities after tax payments was RMB 213,369 thousand, compared to RMB 182,776 thousand in the previous year, reflecting operational efficiency improvements[64]. - The company’s total assets as of December 31, 2023, amounted to RMB 4,756,654 thousand, an increase from RMB 4,486,209 thousand in 2022[60][63]. Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code and has addressed previous non-compliance issues by appointing additional independent non-executive directors[187][188]. - The audit committee, consisting of three independent non-executive directors, reviewed the annual performance for the year ended December 31, 2023, and recommended approval to the board[191]. - The financial statements for the year ended December 31, 2023, have been agreed upon by the auditor and are consistent with the audited financial reports[192]. Shareholder Returns - The board proposed a special final dividend of HKD 1.1 per share for the year ended December 31, 2023[4]. - The company plans to pay a special final dividend of HKD 1.1 per share for the fiscal year ending December 31, 2023, compared to HKD 0.68 per share in 2022[169]. Employee and Management - Employee costs for the year ending December 31, 2023, were approximately RMB 756.7 million[182]. - The company has provided ongoing management and technical training to employees to ensure they possess the necessary skills and professional ethics[183]. - Key management remuneration for the year ended December 31, 2023, totaled RMB 51,550 thousand, a substantial increase from RMB 21,111 thousand in the previous year, reflecting a growth of approximately 144%[177].
时代天使(06699) - 2023 - 年度业绩