Business Operations - The flagship store, Hangzhou Ruile Medical Beauty Hospital, was re-evaluated as a "5A" level medical beauty institution in December 2023, indicating its leading position in management, patient safety, clinical technology, and service quality[4]. - The company operates five private profit-making medical beauty institutions, with three located in Zhejiang Province, one in Anhui Province, and one in Hainan Province[4]. - The factory for skin injection products, located in Suzhou, covers an area of approximately 4,660 square meters and is currently in the trial production phase for injection samples[5]. - The company has established partnerships with well-known domestic universities to jointly develop new skin injection products, aiming to strengthen its position as a leading supplier of non-surgical medical beauty services[5]. - Medical beauty services include surgical, minimally invasive, and skin beauty services, with a focus on enhancing aesthetic appeal and reducing recovery time[6][8][9]. - The company provides dental beauty services, including orthodontics, dental implants, and teeth whitening, enhancing customer experience and retention through cross-selling[10]. - The company offers medical beauty management consulting services, leveraging its experience in managing medical beauty institutions and expertise in sales and marketing[11]. Financial Performance - The company achieved a total revenue of approximately RMB 189.4 million for the year ended December 31, 2023, representing a year-on-year increase of 15.1% compared to RMB 164.5 million in 2022[24]. - The gross profit margin for 2023 was approximately 37.8%, down from 40.6% in 2022, with the dermatology segment's gross profit margin at 43.3% compared to 43.8% in the previous year[24]. - The company reported a net loss of approximately RMB 37.8 million for 2023, compared to a net loss of RMB 20.2 million in 2022, with a loss attributable to shareholders of RMB 32.5 million versus RMB 15.9 million in 2022[24]. - The company recorded a total comprehensive loss of approximately RMB 378 million in 2023, compared to a loss of RMB 202 million in 2022, with adjusted net loss of approximately RMB 189 million in 2023, up from RMB 99 million in 2022[75]. - The company reported a revenue of RMB 189.384 million for 2023, an increase of 15.1% compared to RMB 164.522 million in 2022[48]. - The gross profit for 2023 was RMB 71.493 million, reflecting a growth of 7.1% from RMB 66.783 million in the previous year[48]. - The pre-tax loss increased by 58.4% to RMB 35.010 million in 2023, compared to RMB 22.101 million in 2022[48]. Market Trends - The medical beauty market in China is projected to grow at a compound annual growth rate (CAGR) of 16.1% from 2021 to 2026, significantly outpacing the global market growth[23]. - The non-surgical medical beauty market accounted for 52% of the overall medical beauty market share in China in 2022, indicating a growing consumer preference[27]. - The domestic dermal filler market, including hyaluronic acid and polylactic acid, presents significant growth opportunities, particularly in collagen fillers[29]. - The online promotion trend in the medical beauty industry is expected to become a significant method for consumer engagement and service acquisition[32]. Customer Engagement - The number of active customers in the medical beauty segment rose by approximately 12.0% from about 49,900 in 2022 to around 55,900 in 2023[38]. - The average spending per customer increased by approximately 3.3%, from RMB 3,000 in 2022 to RMB 3,100 in 2023[38]. - The number of active customers for skin beauty services increased to 39,500 in 2023 from 32,600 in 2022, a growth of 21.5%[52]. Research and Development - The company plans to increase investment in R&D activities for new medical device products at its Suzhou facility[24]. - The research and development expenses for Suzhou Yonglan in 2023 amounted to approximately RMB 7.7 million, an increase from RMB 5.8 million in 2022[37]. - The company plans to focus on non-surgical medical beauty services and increase investment in technology and research to develop personalized anti-aging services and products[116]. Strategic Initiatives - The company is focusing on the sales of skin injection products such as collagen and hyaluronic acid fillers, with plans to conduct market research and establish a new sales network[13]. - The company aims to establish a nationwide sales network for medical beauty equipment through a distributor model[30]. - The company has established a strategic partnership with the Hainan Boao Lecheng International Medical Tourism Pilot Zone Management Bureau to build a medical beauty training center[20]. - A new medical technology exchange platform is being established in collaboration with the Hainan Boao Lecheng International Medical Tourism Pilot Zone Management Bureau[43]. Corporate Governance - The board consists of three executive directors and three independent non-executive directors, which is considered a balanced composition to enhance independent review and oversight[150]. - The company has adopted strict corporate governance principles to enhance transparency and accountability, aligning with the stock exchange's guidelines[143]. - The board has established a remuneration committee to review the compensation packages of senior management and directors for the year 2023[171]. - The company has established an internal audit department that reviewed the risk management and internal control systems at least once during the year[186]. Employee Management - As of December 31, 2023, the group has 335 employees in China, an increase from 322 employees as of December 31, 2022[101]. - Total employee cost for 2023 was approximately RMB 68.8 million, an increase of RMB 5.0 million from RMB 63.8 million in 2022, accounting for 36.3% of total revenue in 2023 (2022: 38.8%)[102]. - The company’s employee headcount increased from 322 in 2022 to 335 in 2023, with a notable rise in sales, marketing, and customer service personnel[102]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[132]. - New product launches are expected to contribute an additional 5 million in revenue, with a focus on innovative medical beauty solutions[132]. - The company is expanding its market presence, targeting an increase in service locations by 25% over the next two years[132]. - A strategic acquisition is planned to enhance service offerings, with an estimated investment of 10 million[132]. Investor Relations - The company emphasizes maintaining high standards in investor relations to enhance shareholder value[119]. - The company has a dedicated investor relations team to facilitate communication with shareholders and potential investors[119]. - The company encourages feedback from investors to better formulate its development strategy[119].
瑞丽医美(02135) - 2023 - 年度财报