Revenue and Profitability - For the year ended December 31, 2023, revenue was $359.3 million, an increase of 1.4% compared to $354.5 million in 2022[10]. - Total revenue for the year ended December 31, 2023, was $359.292 million, a slight increase from $354.480 million in 2022, representing a growth of approximately 1.0%[65]. - Revenue breakdown by region shows North America at $156.891 million, up from $143.664 million in 2022, reflecting a growth of about 9.0%[65]. - The Asia-Pacific region generated $109.685 million, an increase from $98.069 million, indicating a growth of approximately 11.0%[65]. - Revenue from product sales was $336,089 thousand in 2023, compared to $334,653 thousand in 2022, indicating a growth of about 0.43%[105]. - Service revenue increased to $23,203 thousand in 2023 from $19,827 thousand in 2022, reflecting a growth of approximately 16.93%[105]. - The total comprehensive income for the year was $32.9 million, down from $40.1 million in the previous year[7]. - The net profit for the year was $32.9 million, down 17.9% from the previous year's profit[140]. - The pre-tax profit for 2023 was $139,767 thousand, down from $152,254 thousand in 2022, a decrease of about 8.19%[111]. - Adjusted net profit for the reporting period was $37.5 million, a decrease of 22.9% year-over-year, with an adjusted net profit margin of 10.4%[195]. Cash Flow and Financial Position - Net cash flow from operating activities was $43.9 million, a significant increase of 99.4% compared to the previous year[10]. - The company's total assets less current liabilities increased to $525.3 million from $475.5 million in 2022[14]. - Total non-current assets increased to $345.67 million in 2023 from $297.79 million in 2022, indicating a growth of approximately 16.1%[83]. - Trade receivables at the end of 2023 amounted to $98.7 million, compared to $95.6 million in 2022[130]. - The company has sufficient funds to meet future business needs and maintain operational flexibility[140]. Dividends and Shareholder Returns - The company announced a final dividend of HK$0.158 per share (tax included) for the year ended December 31, 2023[10]. - The company declared a final dividend of HKD 0.158 per share for the year ended December 31, 2023[54]. Governance and Compliance - The company has complied with all applicable principles and code provisions of the Corporate Governance Code during the reporting period[21]. - The audit committee reviewed the annual performance for 2023 and the financial statements prepared in accordance with international financial reporting standards[33]. - The company has adopted a trading policy for directors and the CEO, ensuring compliance with relevant regulations[30]. - The board of directors includes both executive and independent non-executive members, highlighting a diverse governance structure[66]. Research and Development - Research and development expenses for 2023 were $18,029 thousand, slightly up from $18,023 thousand in 2022[91]. - The company is focused on strategic investments, including clinical research and the development of innovative solutions in energy-based medical aesthetics[137]. - The company conducted 20 clinical and preclinical studies during the reporting period, covering various fields including aesthetics and gynecology[198]. Product Development and Market Expansion - The Soprano Titanium™ hair removal platform was introduced to the North American market after receiving FDA approval[175]. - The Alma Veil™ was launched in North America, targeting various skin conditions and expanding the customer base[176]. - The company received FDA approval for the VorFat system, enhancing its product portfolio and competitive position in the global medical aesthetics market[178]. - The second-generation LMNT O2 medical-grade home beauty device was launched, supporting regional growth strategies[179]. - The company established new offices in Japan and China in 2023, advancing direct sales subsidiaries in the UK and UAE[179]. - The company launched three new products in new regions during the reporting period, including the Opus platform for non-invasive skin tightening and rejuvenation[197]. - The company has received multiple product registration applications from the National Medical Products Administration in China, including the Profhilo® injectable filler[184]. Strategic Initiatives - The company is focused on expanding its global sales channels, with a total allocation of $61 million for this purpose[50]. - A new direct sales office was established in Dubai, aimed at becoming a trade hub for the Middle East market, starting with energy source equipment and expanding into personal care and aesthetic dentistry[186]. - The company is actively pursuing mergers and acquisitions to enhance its R&D capabilities, product portfolio, and distribution channels[191]. - The company plans to strengthen its market leadership in strategic markets (Asia-Pacific and the U.S.) through deeper market penetration and closer collaboration with partners and customers[190].
复锐医疗科技(01696) - 2023 - 年度业绩