Financial Performance - For the year ended December 31, 2022, the company's revenue was RMB 1,635.4 million, a decrease of 8.2% compared to RMB 1,780.7 million in 2021[2]. - The gross profit for the same period was RMB 717.8 million, with a gross margin of 43.9%, down from 46.8% in 2021[2][8]. - The net profit for 2022 was RMB 110.5 million, significantly lower than RMB 208.3 million in 2021[4]. - Adjusted net profit (non-HKFRS measure) was RMB 157.4 million, a decrease of 30.6% from RMB 226.7 million in 2021[2][4]. - The overall gross margin for the year ended December 31, 2022, was 43.9%, down from 46.8% in 2021[10]. - The company reported a net profit attributable to owners of RMB 103,109,000 for the year ended December 31, 2022, compared to RMB 193,475,000 in 2021, a decrease of 46.7%[84]. - The company reported a net financial cost of RMB 21,619,000 for the year, slightly improved from RMB 22,933,000 in 2021[78]. - The company’s income tax expense for the year was RMB 19,943,000, significantly lower than RMB 46,761,000 in the previous year, a reduction of 57.4%[79]. - Basic earnings per share for the year ended December 31, 2022, were RMB 0.52, down from RMB 0.97 in 2021, a decline of 46.4%[84]. - The diluted earnings per share for the year ended December 31, 2022, was RMB 0.52, down from RMB 0.97 in 2021, representing a decline of 46.4%[86]. Revenue Breakdown - Traditional beauty services revenue for the year ended December 31, 2022, was RMB 835.6 million, a decrease of 11.2% compared to the previous year[11]. - Medical beauty services revenue for the year ended December 31, 2022, was RMB 620.2 million, a decrease of 7.8% compared to the previous year[13]. - Revenue from traditional beauty services decreased from RMB 941.4 million in 2021 to RMB 835.6 million in 2022, primarily due to the negative impact of recurring COVID-19 outbreaks[38]. - Revenue from medical beauty services decreased from RMB 6,730 million in 2021 to RMB 6,202 million in 2022, mainly due to the negative impact of recurring COVID-19 outbreaks leading to temporary store closures[40]. - Revenue from sub-health assessment and intervention services increased from RMB 609 million in 2021 to RMB 685 million in 2022, driven by continuous insights into customer needs despite some growth being offset by temporary closures[41]. - The medical beauty service revenue accounted for 37.9% of total revenue in 2022, amounting to RMB 620.2 million[37]. Store Operations - The number of active members served by the company's directly operated stores increased by 1.2% to 78,318 in 2022[7]. - The company maintained a network of 189 directly operated stores and 189 franchised stores across China as of December 31, 2022[7]. - The company opened 20 new direct-operated stores in 2022, including 17 traditional beauty stores and 3 medical beauty facilities[17]. - As of December 31, 2022, the company operated 189 direct stores and 189 franchise stores, with a net addition of 20 direct stores and 35 franchise stores during the year[18]. - Same-store sales decreased by 11.0% in 2022, with traditional beauty service stores experiencing a decline of 14.7%[42]. Employee and Training Initiatives - The total number of full-time employees reached 3,707 as of December 31, 2022, with 1,914 service personnel, 970 administrative staff, and 733 sales and marketing personnel[21][22]. - The company conducted nearly 3,000 learning projects in 2022, with over 50,000 learning instances and more than 100,000 effective learning hours[24]. - The company has provided over 13,000 training sessions at its training centers since establishment, focusing on improving service quality[33]. - The company has focused on retaining professional staff, achieving a record high in the number of professionals recruited through internal recommendations in 2022[25]. - The company will continue to recruit and retain high-quality talent, focusing on medical experts and digital talent to expand its professional workforce[33]. Strategic Developments - The company established a Women's Special Care Center in 2022, focusing on women's health issues, and received a first-class award for a key research project from the National Health Commission[20]. - The company established a strategic partnership with Allergan, a leading global medical aesthetics biopharmaceutical company, in July 2022[27]. - The company has expanded its medical services through strategic collaborations with leading domestic medical aesthetic product providers[27]. - The company plans to open over 50 new traditional beauty service stores in 2023 through self-built and franchised methods to expand its customer base and enhance brand awareness[29]. - The company will continue to develop and innovate women's health care projects, targeting issues such as chronic fatigue and sleep quality in 2023[31]. Financial Position and Liabilities - As of December 31, 2022, the company had cash and cash equivalents of RMB 1,641 million and unutilized bank financing of RMB 1,000 million[54]. - The total assets as of December 31, 2022, were RMB 2,495 million, compared to RMB 2,477 million at the end of 2021[64]. - Total liabilities increased to RMB 2,292,280 thousand in December 2022, up from RMB 2,214,776 thousand in December 2021, representing a growth of 3.5%[65]. - Current liabilities totaled RMB 1,909,110 thousand as of December 31, 2022, compared to RMB 1,853,753 thousand in the previous year, reflecting an increase of 3.0%[65]. - Non-current liabilities rose to RMB 383,170 thousand in December 2022, up from RMB 361,023 thousand in December 2021, marking a 6.1% increase[65]. - The net current liabilities amounted to RMB 661,327 thousand, an increase from RMB 544,273 thousand in the previous year, indicating a rise of 21.5%[65]. Corporate Governance and Compliance - The company was incorporated on February 10, 2022, in the Cayman Islands and listed on the Hong Kong Stock Exchange on January 16, 2023[66]. - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and have been approved by the board on March 29, 2023[67]. - The group adopted several new accounting standards effective from January 1, 2022, which did not have a significant impact on the financial statements[69]. - The company has adopted the corporate governance code to regulate its governance practices, ensuring accountability and protection of shareholder interests[99]. - The audit committee, consisting of one non-executive director and two independent non-executive directors, has reviewed the financial reporting process and internal controls, ensuring compliance with applicable accounting standards[103]. Future Outlook - The company aims to enhance operational efficiency and customer experience through the establishment of a digital system that integrates online and offline business operations[30]. - The company plans to enhance user stickiness and precision marketing through the integration of online and offline resources in 2023[29]. - The company will strengthen its collaboration with upstream suppliers to enhance industry standards and share management experiences[34].
美丽田园医疗健康(02373) - 2022 - 年度业绩