Financial Performance - The company's revenue for the year ended December 31, 2023, was approximately HKD 3,172,048,000, representing an increase of about 12.1% compared to HKD 2,830,088,000 in 2022[3]. - The gross profit margin for the year ended December 31, 2023, was approximately 53.6%, up from 48.9% in 2022, with gross profit increasing by approximately 22.9% to HKD 1,700,693,000[3][5]. - EBITDA for the year ended December 31, 2023, was approximately HKD 694,471,000, reflecting an increase of about 49.9% from HKD 463,351,000 in 2022[3][5]. - The net profit for the year ended December 31, 2023, was approximately HKD 402,177,000, an increase of about 82.4% compared to HKD 220,549,000 in 2022[3][5]. - Basic earnings per share for the year ended December 31, 2023, were 42.4 HKD cents, up approximately 83.5% from 23.1 HKD cents in 2022[3][5]. Dividends - The company plans to distribute a final dividend of 9.0 HKD cents per share for the year ended December 31, 2023, compared to 4.4 HKD cents in 2022, pending shareholder approval[4]. - The interim dividend per share increased to HKD 0.06 in 2023 from HKD 0.037 in 2022, while the proposed final dividend per share rose to HKD 0.09 from HKD 0.044[32]. Market Performance - Revenue from the European market for the year ended December 31, 2023, was HKD 1,399,371,000, reflecting a natural growth rate of 15.3%[6]. - The North American market generated revenue of HKD 753,615,000, with a growth rate of 6.2%[6]. - The fixed dental equipment segment generated revenue of approximately HKD 1,985,044,000, an increase of about HKD 181,578,000 from the previous year, accounting for 66.6% of total revenue[47]. - The removable dental equipment segment recorded revenue of approximately HKD 712,962,000, an increase of about HKD 177,871,000, representing 23.9% of total revenue[48]. - The other custom equipment segment achieved revenue of approximately HKD 283,865,000, an increase of about HKD 10,205,000, accounting for 9.5% of total revenue[49]. Assets and Liabilities - Non-current assets increased to HKD 2,381,523 thousand in 2023, up from HKD 2,273,309 thousand in 2022, representing a growth of 4.76%[11]. - Current assets rose to HKD 1,571,324 thousand in 2023, compared to HKD 1,265,746 thousand in 2022, marking an increase of 24.09%[11]. - Total liabilities increased to HKD 754,772 thousand in 2023 from HKD 676,139 thousand in 2022, reflecting a rise of 11.59%[12]. - The company's equity attributable to owners increased to HKD 2,643,101 thousand in 2023, up from HKD 2,333,533 thousand in 2022, indicating a growth of 13.24%[13]. - Cash and cash equivalents significantly increased to HKD 697,694 thousand in 2023 from HKD 444,377 thousand in 2022, a rise of 57.06%[11]. Research and Development - Research and development costs for 2023 amounted to HKD 43,239,000, up from HKD 40,096,000 in 2022[27]. - R&D expenses amounted to HKD 35,935,000 in 2023, an increase from HKD 32,348,000 in 2022[28]. Operational Highlights - The number of digital solutions produced in mainland China increased to approximately 857,064 cases, a rise of 55.9% from 549,736 cases in 2022, driven by greater adoption of intraoral scanners[4]. - Total sales volume for the year was 2,073,268 units, a 13.3% increase from 1,830,392 units in the previous year[52]. - The average selling price per unit increased to HKD 1,438, a slight rise of 0.8% from HKD 1,427 in the previous year[52]. Financial Management - Financing costs totaled HKD 41,222,000 in 2023, up from HKD 26,270,000 in 2022, with bank loan interest rising to HKD 38,806,000[29]. - The company's debt ratio decreased to approximately 16% as of December 31, 2023, down from 22% in 2022, reflecting a stronger financial position[79]. - The company recorded a net cash outflow from financing activities of approximately HKD 173,640,000 for the year ended December 31, 2023, which included dividend payments of HKD 99,030,000[76]. Corporate Governance - The company adhered to the corporate governance code as per the listing rules for the year ended December 31, 2023[97]. - The audit committee, consisting of three independent non-executive directors, reviewed the group's financial performance for the year ended December 31, 2023[98]. - The company's auditor confirmed that the figures in the preliminary announcement for the consolidated financial statements were consistent with the draft financial statements for the year[99]. Strategic Outlook - The company continues to focus on digital transformation and market expansion, enhancing customer and patient experiences to outperform competitors[1][2]. - The group aims to consolidate its global leadership position through strategic collaborations, acquisitions, and partnerships to expand its product offerings and distribution network[61]. - Investments in production facilities in Dongguan and Vietnam are expected to enhance the group's R&D capabilities and production solutions[61].
现代牙科(03600) - 2023 - 年度业绩