Financial Performance - The company reported a revenue of RMB 1,036.9 million for the six months ended June 30, 2023, representing a 41.2% increase compared to RMB 734.3 million in the same period of 2022[6]. - Gross profit for the six months ended June 30, 2023, was RMB 478.1 million, with a gross margin of 46.1%, up from 42.8% in the same period of 2022[6]. - Net profit surged by 510.2% to RMB 121.1 million, compared to RMB 19.8 million in the same period of 2022[3]. - Adjusted net profit (non-HKFRS measure) increased by 159.1% to RMB 131.2 million from RMB 50.6 million in the same period of 2022[3]. - Operating profit surged to RMB 155.5 million, compared to RMB 37.0 million in the previous year, reflecting a significant increase of approximately 320.4%[46]. - The total comprehensive income for the period was RMB 157.0 million, compared to RMB 19.8 million in 2022, marking a significant increase[47]. - The company reported a basic earnings per share of RMB 0.49 for the first half of 2023, compared to RMB 0.08 in the same period last year[46]. - The profit attributable to the company's owners for the six months ended June 30, 2023, was RMB 111,830 thousand, a significant increase from RMB 15,123 thousand for the same period in 2022, representing a growth of 640%[69]. - Basic earnings per share for the six months ended June 30, 2023, was RMB 0.49, compared to RMB 0.08 for the same period in 2022, reflecting a 512.5% increase[69]. Revenue Breakdown - Revenue from traditional beauty services was RMB 507.3 million, a 32.4% increase compared to the previous year[8]. - Revenue from medical beauty services was RMB 439.9 million, a 59.6% increase year-over-year[10]. - Revenue from sub-health assessment and intervention services reached RMB 33.5 million, up 62.8% year-over-year[12]. - Revenue from traditional beauty services at direct stores rose by 32.4% to RMB 507.3 million, driven by brand influence and improved customer engagement through digital tools[24]. - Medical beauty services revenue surged by 59.6% to RMB 439.9 million, attributed to a comprehensive service offering that meets post-pandemic customer needs[26]. - Revenue from sub-health assessment and intervention services grew by 60.5% to RMB 49.3 million, reflecting increased customer focus on health post-pandemic[27]. Membership and Customer Engagement - Active membership in direct stores increased by 21.3% to 73,919 members as of June 30, 2023, compared to 60,956 members in the same period of 2022[3]. - The number of active members served by franchise stores increased by 28.3% to 29,906 members as of June 30, 2023[5]. - Active members served reached 71,787, up 20.4% from 59,632 in the previous year[9]. - The number of members receiving medical beauty services grew to 17,032, reflecting a 36.5% increase from 12,476 last year[10]. - The average spending per active member was RMB 12,882, up from RMB 10,736 in the same period of 2022[6]. Operational Expansion - The company has established a nationwide network of 196 directly operated stores and 194 franchise-operated stores as of June 30, 2023[4]. - A total of 30 new stores are expected to open in the second half of 2023 through self-built or franchise methods[15]. - The company expanded its store network to 196 directly operated stores and 194 franchise stores as of June 30, 2023[14]. Strategic Initiatives - Strategic investments included a RMB 4 million investment in Chengdu Youlan brand and a RMB 7 million acquisition of three franchise stores in Changsha[16]. - New product offerings include sleep disorder improvement and eye fatigue relief services, enhancing customer experience and health[17]. - Strategic partnerships were established with leading skin management and scalp care brands to explore new project development in medical beauty and health sectors[20]. - The company is planning to introduce an energy intervention center utilizing cutting-edge international technology to address health issues related to energy imbalance[18]. - The company has successfully developed and launched a women's pelvic health program at its women's special care center, expanding its service offerings[18]. Cost and Expenses - Sales and service costs rose from RMB 420.3 million to RMB 558.8 million, primarily due to increased employee costs and operational expenses[30]. - Sales expenses increased from RMB 120.2 million in the first half of 2022 to RMB 166.9 million in the same period of 2023, primarily due to increased employee costs and marketing expenses[31]. - R&D expenses rose from RMB 15.0 million in the first half of 2022 to RMB 17.2 million in the same period of 2023, mainly due to an increase in R&D personnel[32]. Cash Flow and Financial Position - Operating cash flow for the first half of 2023 was RMB 222.3 million, a 72.8% increase from RMB 128.7 million in the same period of 2022[39]. - Cash and cash equivalents as of June 30, 2023, amounted to RMB 82.7 million, with term deposits exceeding three months totaling RMB 520.0 million[38]. - The debt-to-capital ratio decreased to 1.6% as of June 30, 2023, down from 67.2% a year earlier, primarily due to funds received from a global offering[41]. - The net cash used in investing activities for the first half of 2023 was RMB 653.4 million, mainly due to the purchase of financial products and term deposits[40]. - Total assets as of June 30, 2023, amounted to RMB 3,111.5 million, up from RMB 2,495.4 million at the end of 2022[48]. - Current liabilities totaled RMB 1,990.9 million, compared to RMB 1,909.1 million at the end of 2022, indicating a slight increase[49]. Corporate Governance and Compliance - The audit committee, including one non-executive director and two independent non-executive directors, reviewed the interim financial statements and confirmed compliance with applicable accounting standards[88]. - The company has adhered to the corporate governance code since its listing date until June 30, 2023[82]. - The company will continue to review and improve its corporate governance practices to ensure compliance with the corporate governance code[82]. - The company has adopted the standard code regarding the trading of its securities by directors and senior management, confirming compliance since its listing date[83]. Shareholder Communication - The announcement was made on August 24, 2023, indicating the company's ongoing commitment to transparency and shareholder communication[94]. - The interim report for the six months ending June 30, 2023, will be published on the company's and the stock exchange's websites[89].
美丽田园医疗健康(02373) - 2023 - 中期业绩