Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 185,882,000, a decrease of 2.9% from HKD 191,499,000 in 2022[4] - Gross profit for the same period was HKD 81,073,000, down from HKD 82,565,000, reflecting a gross margin of approximately 43.6%[4] - The company reported a net profit of HKD 6,150,000 for 2023, a significant recovery from a net loss of HKD 172,132,000 in 2022[4] - Basic earnings per share for 2023 was HKD 0.15, compared to a loss per share of HKD 2.45 in the previous year[5] - The total comprehensive income for the year was HKD 7,343,000, a turnaround from a comprehensive loss of HKD 214,482,000 in 2022[5] - The company's profit before tax decreased from HKD 23,123,000 in 2022 to HKD 18,105,000 in 2023, representing a decline of approximately 21.6%[22] - Total employee costs reduced from HKD 127,341,000 in 2022 to HKD 119,605,000 in 2023, a decrease of about 6.1%[22] - The profit attributable to shareholders for the year was approximately HKD 7.47 million, with basic earnings per share of HKD 0.15, compared to a loss of approximately HKD 123.3 million and basic loss per share of HKD 2.45 in the previous year[49] Assets and Liabilities - Non-current assets decreased to HKD 249,646,000 in 2023 from HKD 291,473,000 in 2022, primarily due to impairments and disposals[6] - Current assets totaled HKD 355,421,000, down from HKD 476,125,000 in the previous year, with a notable reduction in trade and other receivables[6] - The company’s total equity increased to HKD 491,764,000 in 2023 from HKD 470,906,000 in 2022, indicating improved financial stability[7] - As of December 31, 2023, the total reportable segment assets amounted to HKD 603,461,000, with the dental business holding HKD 325,881,000 and the health business holding HKD 277,580,000[17] - The total reportable segment liabilities were HKD 91,798,000, with the dental business liabilities at HKD 66,117,000 and health business liabilities at HKD 25,681,000[17] - The fair value of financial assets decreased from HKD 200,280,000 in 2022 to HKD 193,114,000 in 2023, a decline of about 3.3%[29] - The expected credit loss provision for trade receivables increased to HKD 2,413,000 in 2023 from HKD 2,048,000 in 2022, with a net charge of HKD 1,595,000 recognized during the year[32] - Trade payables decreased to HKD 26,773,000 in 2023 from HKD 46,552,000 in 2022, with the aging analysis indicating a significant increase in payables due within 0 to 90 days[36] Business Segments - For the fiscal year ending December 31, 2023, the total revenue generated from external customers was HKD 185,882,000, with the dental business contributing HKD 179,441,000 and the health business contributing HKD 6,441,000[15] - The operating profit before depreciation and amortization for the dental business was HKD 13,152,000, while the health business reported an operating loss of HKD 23,861,000, resulting in a total operating loss of HKD 10,709,000[15] - The health business reported a significant operating loss of HKD 31,222,000 for the fiscal year ending December 31, 2023, compared to an operating loss of HKD 50,129,000 in the previous year[15][16] - Revenue from the dental business was approximately HKD 179.4 million, a decrease of about HKD 1.9 million from HKD 181.3 million in the previous year[51] Research and Development - Research and development expenses slightly decreased from HKD 17,428,000 in 2022 to HKD 16,835,000 in 2023, a reduction of about 3.4%[22] - The group received government subsidies and other income related to research and development amounting to approximately HKD 2 million[53] - The company has applied for a super deduction allowance for R&D expenses, allowing a 175% deduction for tax purposes[24] - The group aims to achieve significant growth in its implant business, with expectations for more product approvals in 2024[61] Future Plans and Strategies - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The group plans to expand its sales network in both domestic and overseas markets, including the United States, and enhance production capacity in China[60] - The group is actively seeking investment and collaboration opportunities in high-tech dental fields to enhance cross-selling opportunities[60] - The company plans to enhance shareholder value by expanding its dental and health businesses, focusing on advanced technology and high-end dental materials[58] Corporate Governance and Compliance - The company expects that the revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[12] - The audit committee reviewed the group's internal controls, risk management systems, and accounting standards for the year ending December 31, 2023[85] - The group has complied with the corporate governance code, except for the absence of an internal audit function[83] - The group has adopted a stock option plan as a long-term incentive for directors and eligible employees[79] Employee and Operational Information - As of December 31, 2023, the group employed approximately 893 employees, a decrease from about 940 employees as of December 31, 2022[79] - The group operates a mandatory provident fund scheme for eligible employees in Hong Kong, with contributions made by both employer and employees[79] Dividends and Shareholder Information - The company has not declared or proposed any dividends for the years ended December 31, 2023, and 2022[26] - The board did not recommend a final dividend for the year ending December 31, 2023[50] - The annual results announcement is available on the company's website and will be sent to shareholders[87] - The group expresses gratitude to shareholders, customers, suppliers, and the banking sector for their support over the past year[89]
佳兆业健康(00876) - 2023 - 年度业绩