Share Option and Award Schemes - The company reported a total of 300,000 shares granted during the period under the Post-IPO Share Option Scheme[2]. - As of July 1, 2023, there were 1,500,000 options outstanding under the scheme, with 400,000 options granted during the period[15]. - The company adopted the 2023 Share Option Scheme on November 24, 2023, to replace the Post-IPO Share Option Scheme[20]. - Under the 2023 Share Option Scheme, the total number of shares that may be issued upon exercise of all options must not exceed 10% of the shares in issue as of the adoption date[21]. - As of December 31, 2023, no options were granted under the 2023 Share Option Scheme since its adoption[26]. - The number of options available for grant under the 2023 Share Option Scheme was 81,095,524 as of both November 24, 2023, and December 31, 2023[26]. - The Share Award Scheme, adopted on June 30, 2016, was amended to extend its term for another 10 years from the amendment date of November 24, 2023[29]. - The total number of shares available under the Service Provider Sublimit of the 2023 Share Option Scheme was 16,219,104 as of both November 24, 2023, and December 31, 2023[27]. - The company has a total of 25,740,000 options under the Post-IPO Share Option Scheme, with 14,140,000 options remaining as of December 31, 2023[19]. - The company aims to assist in the recruitment and retention of high-caliber professionals through the new share option schemes[20]. - The total number of shares available for the Share Award Scheme is 81,095,524 shares, representing approximately 10% of the issued shares as of the date of the interim report[33]. - 306,000 shares were purchased under the Share Award Scheme during the six months ended December 31, 2023, with a total amount paid of HK$210,245[33]. - As of December 31, 2023, 11,798,863 shares were held by the trustee of the Share Award Scheme for the benefit of eligible participants[33]. - The maximum number of shares that may be awarded to a selected participant under the Share Award Scheme in a 12-month period shall not exceed 1% of the issued share capital of the company[33]. - The board shall not make any further awards under the Share Award Scheme if the total number of awarded shares exceeds 10% of the shares in issue as of the amendment date[33]. - No share awards have been granted, vested, cancelled, or lapsed under the Share Award Scheme during the six months ended December 31, 2023[33]. Financial Performance - Revenue for the six months ended December 31, 2023, was HK$375,845,000, representing a 2% increase from HK$365,102,000 in the same period of 2022[49]. - Profit for the period decreased to HK$13,209,000, down 69% from HK$42,289,000 year-over-year[51]. - Basic and diluted earnings per share attributable to ordinary equity holders was HK1.96 cents, a decrease of 64% compared to HK5.43 cents in the previous year[49]. - Professional services expenses increased by 12% to HK$137,184,000 from HK$122,988,000 in the prior period[49]. - Employee benefit expenses rose to HK$100,597,000, up 11% from HK$90,202,000 year-over-year[49]. - Other comprehensive loss for the period was HK$10,864,000, compared to a comprehensive income of HK$7,123,000 in the previous year[51]. - The company reported a finance cost of HK$3,623,000, an increase from HK$2,966,000 in the prior period[49]. - Profit before tax for the six months ended December 31, 2023, was HK$17,687,000, a decrease of 64.6% compared to HK$49,920,000 for the same period in 2022[60]. - Cash generated from operations was HK$96,218,000, down 17.5% from HK$116,630,000 in the previous year[60]. - Net cash flows from operating activities amounted to HK$85,290,000, compared to HK$92,303,000 in the prior period, reflecting a decrease of 7.3%[60]. - The total tax charge for the period was HK$4,478,000, down from HK$7,631,000 in 2022, representing a decrease of about 41.5%[117]. - The effective tax rate remained consistent at 16.5% for both periods, reflecting stable tax policy adherence[101]. Dividends - The Board declared an interim dividend of HK1.30 cents per Share for the six months ended 31 December 2023, down from HK1.70 cents in the corresponding period in 2022[47]. - The interim dividend will be payable to shareholders on or about 19 April 2024, with the register of members closing from 20 March 2024 to 22 March 2024[47]. - The final dividend for the year ended 30 June 2023 is HK3.00 cents per ordinary share, unchanged from the previous year[123]. - The proposed interim dividend for the six months ending 31 December 2023 is HK1.30 cents per ordinary share, down from HK1.70 cents for the same period last year[125]. - The Group recognized a dividend distribution of HK$6,406,000 for the period ended December 31, 2023, compared to HK$11,579,000 in 2022, indicating a decrease of approximately 44.5%[122]. Assets and Liabilities - Total non-current assets as of December 31, 2023, were HK$624,856,000, slightly down from HK$625,730,000 as of June 30, 2023[53]. - Cash, bank balances, and deposits increased to HK$317,237,000 from HK$290,495,000, reflecting a 9% growth[53]. - Total current assets as of December 31, 2023, amounted to HK$523,862,000, up from HK$495,524,000 as of June 30, 2023[53]. - Total current liabilities increased to HK$317,505,000 as of December 31, 2023, compared to HK$271,111,000 on June 30, 2023, representing a 17.1% increase[55]. - Net current assets decreased to HK$206,357,000 as of December 31, 2023, down from HK$224,413,000 on June 30, 2023, indicating a decline of 8.0%[55]. - Total assets less current liabilities amounted to HK$831,213,000 as of December 31, 2023, compared to HK$850,143,000 on June 30, 2023, reflecting a decrease of 2.2%[55]. - Non-current liabilities rose to HK$87,471,000 as of December 31, 2023, up from HK$80,424,000 on June 30, 2023, marking an increase of 8.5%[55]. - Total equity decreased to HK$743,742,000 as of December 31, 2023, down from HK$769,719,000 on June 30, 2023, representing a decline of 3.4%[55]. - The reserves decreased to HK$720,218,000 as of December 31, 2023, compared to HK$739,736,000 on June 30, 2023, indicating a reduction of 2.6%[57]. Market and Business Strategy - The company plans to continue its market expansion and product development strategies in the upcoming fiscal year[56]. - The company has allocated resources for new technology research and development to enhance its service offerings[56]. - The Group continues to engage in various healthcare services, including corporate healthcare solutions and medical imaging, indicating ongoing market expansion efforts[64]. - The Group is focusing on strengthening interconnectivity within its service network to enhance patient-centric care and operational efficiency[150]. - The group plans to develop specialty medical facilities in oncology, cardiology, and orthopaedics to enhance service integration and cross-referrals[170]. - The establishment of strategic partnerships with reputable medical institutions is expected to increase revenue streams and improve overall profitability[172]. - The group aims to leverage the Voluntary Health Insurance Scheme (VHIS) to capture growing demand in the private healthcare market[170]. Segment Performance - The Corporate Healthcare Solution Services segment generated revenue of HK$127,979,000, slightly down from HK$128,371,000 in the previous year, indicating a decrease of about 0.3%[96]. - The Clinical Healthcare Services segment in Hong Kong and Macau reported revenue of HK$228,569,000, up from HK$217,962,000, reflecting an increase of approximately 4.9%[96]. - The Mainland China Clinical Healthcare Services segment achieved revenue of HK$19,297,000, compared to HK$18,769,000 in the prior year, marking a growth of about 2.8%[96]. - Revenue from clinical healthcare services in Hong Kong and Macau increased by 6.5% from HK$281.3 million in 2022/23 to HK$299.4 million in 2023/24, with approximately HK$90.1 million coming from medical imaging and laboratory services[166]. - Operating profit for Hong Kong and Macau clinical healthcare services decreased by 84.0% from HK$30.1 million in 2022/23 to HK$4.8 million in 2023/24, primarily due to increased service costs and expenses related to new medical centers[166]. - Revenue from clinical healthcare services in Mainland China rose by 2.8% from HK$18.8 million in 2022/23 to HK$19.3 million in 2023/24, with operating profit also increasing by 2.8% to HK$6.3 million[167]. Cash Flow and Financing - Cash flows from operating activities for the six months ended December 31, 2023, will be detailed in the upcoming cash flow statement[59]. - Net cash used in investing activities was HK$10,061,000, an increase from HK$8,031,000 in the same period last year[60]. - Principal portion of lease payments increased to HK$39,485,000 from HK$29,947,000, representing a rise of 31.5%[62]. - Net cash flows used in financing activities totaled HK$42,625,000, compared to HK$35,977,000 in the previous year, indicating an increase of 18.4%[62]. - Cash and cash equivalents at the end of the period were HK$269,937,000, down from HK$284,509,000 at the end of the previous period, a decrease of 5.1%[62]. - Interest received increased significantly to HK$2,775,000 from HK$579,000, marking a rise of 378.4%[60]. - The Group received HK$2,661,000 in dividends from a listed equity investment during the period, down from HK$5,002,000 for the same period in 2022[136]. Accounting and Reporting - The Group has adopted new accounting standards effective from July 1, 2023, which may impact future financial reporting[70]. - The Group's main business during the period is providing healthcare services, including medical and dental services[74]. - The unaudited condensed consolidated financial statements should be read in conjunction with the Group's annual consolidated financial statements for the year ended 30 June 2023[75]. - The adoption of HKFRS 17 is expected to have no material impact on the Group's total equity at 1 July 2023 and 1 July 2022[78]. - Amendments to HKAS 8 and HKAS 12 do not have a material impact on the financial statements, as the Group's approach is consistent with the amendments[79]. - The Group has revisited its accounting policy information and found it consistent with the recent amendments regarding material accounting policy disclosures[79]. - The Group's financial statements do not include all the information and disclosures required in the annual financial statements[75].
联合医务(00722) - 2024 - 中期财报