Revenue Performance - The company recorded revenue of approximately HKD 295.2 million for the interim period of fiscal year 2024, a decrease of about HKD 386.1 million or 56.7% compared to the interim period of fiscal year 2023[17]. - Revenue from specialized medical services increased by approximately HKD 7.3 million or 12.5% to about HKD 65.2 million in the interim period of fiscal year 2024, driven by an increase in patient visits and average spending per visit[18]. - The company's primary healthcare services revenue decreased by approximately HKD 389.6 million or 66.2% to about HKD 198.9 million for the interim period of fiscal year 2024, primarily due to a reduction in revenue from COVID-19 related services[38]. - Revenue from dental services was approximately HKD 31.1 million in the interim period of fiscal year 2024, compared to HKD 34.9 million in the interim period of fiscal year 2023[34]. - The group reported a 47.3% increase in revenue from its general medical services, excluding COVID-19 related services, compared to the mid-year of the 2023 fiscal year[103]. - The primary revenue sources included General Medical Services at HKD 198,929,000, Specialist Medical Services at HKD 65,152,000, and Dental Services at HKD 31,109,000[195]. Profitability - The company's gross profit decreased by approximately HKD 327.3 million or 70.0% to about HKD 140.5 million, with the gross profit margin dropping from approximately 68.7% to 47.6%[22]. - The company’s net profit attributable to shareholders for the interim period of fiscal year 2024 was approximately HKD 20.0 million, down from HKD 268.1 million in the interim period of fiscal year 2023[30]. - The company's net profit for the interim period of fiscal year 2024 was approximately HKD 20.0 million, a decrease of about HKD 248.1 million or 92.5% compared to the same period in fiscal year 2023[46]. - The company’s net profit margin decreased from approximately 39.4% in the interim period of fiscal year 2023 to about 6.8% in fiscal year 2024[45]. - The adjusted profit before tax for the group was HKD 23,934,000, significantly down from HKD 325,092,000 in the previous year, reflecting a decline of 92.6%[197]. Expenses and Cost Management - Administrative expenses decreased by approximately HKD 14.7 million or 10.8% to about HKD 122.0 million, mainly due to a reduction in employee costs and depreciation[26]. - The total expenses for the group included employee benefits totaling HKD 60,860,000, down from HKD 70,183,000, indicating a reduction of 17.7%[197]. - The company incurred a total cost of medical supplies amounting to HKD 50,430,000, which increased from HKD 39,371,000 in the prior year, representing a rise of 28.5%[197]. Strategic Initiatives - The company acquired a medical center in Lam Tin during the interim period of fiscal year 2024 as part of its strategy to expand its network of medical service centers[31]. - The company plans to continue exploring new business opportunities in the rehabilitation sector as the Hong Kong government intends to expand its rehabilitation services to other industries[35]. - The company expanded its ophthalmology services in the H2 Health Center, which is expected to contribute to core revenue growth in the specialist medical division[52]. - The group aims to expand its service offerings in primary healthcare, focusing on family medicine, preventive care, and chronic disease management[76]. - The group has established a strategic partnership with The Chinese University of Hong Kong to provide professional rehabilitation and case management services for injured employees, indicating optimism about the rehabilitation market potential in Hong Kong[79]. - The group is implementing a prudent expansion strategy, ensuring that each acquisition is carefully evaluated and aligns with its strategic framework[66]. Operational Efficiency - The company maintained operational resilience and adaptability, indicating a significant step towards improving operational efficiency despite revenue declines[47]. - The group prioritizes cost restructuring and team optimization to enhance operational efficiency, streamlining staff due to reduced COVID-19 related services[67]. - The group is focused on continuous innovation and improvement, leveraging strategic alliances to create value for stakeholders and contribute to the overall development of the healthcare industry[71]. - The group is enhancing its digitalization and service optimization through a new generation integrated clinic operation platform, improving customer service and operational efficiency[72]. - The group remains committed to digitalization and automation to enhance operational efficiency and effectiveness[115]. Financial Position - The group's net current assets as of December 31, 2023, were approximately HKD 392.7 million, down from HKD 447.8 million as of June 30, 2023[117]. - Cash and cash equivalents, along with pledged deposits, amounted to approximately HKD 485.4 million as of December 31, 2023, compared to HKD 642.3 million as of June 30, 2023[117]. - The group's capital debt ratio was approximately 4.2% as of December 31, 2023, slightly down from 4.3% as of June 30, 2023[117]. - The total number of full-time employees decreased to 386 as of December 31, 2023, from 541 as of December 31, 2022[126]. - The company's net assets amounted to HKD 764,572,000, down from HKD 808,217,000, a decrease of about 5.4%[170]. Shareholder Information - The group has not declared any interim dividend for the fiscal year 2024[127]. - The company plans to distribute a final dividend of HKD 60,728,000, reflecting ongoing shareholder returns despite the financial adjustments[171]. - The major shareholder, Treasure Group Global Limited, holds 252,346,286 shares, representing 66.49% of the issued share capital[155]. Market Outlook - The group maintains a cautiously optimistic outlook for business growth and financial performance in the second half of the fiscal year 2024, despite ongoing global economic challenges[65]. - The group recognizes the significant expansion potential of private healthcare services due to the increasing market focus on health[70]. - The group aims to expand its market coverage and potential opportunities in the Greater Bay Area through its collaboration with Biomedical Technology Holdings Limited[93].
盈健医疗(01419) - 2024 - 中期财报