Financial Performance - Revenue for the year ended 31 December 2023 was HK$140,346,000, a decrease of 15.7% compared to HK$166,484,000 in 2022[54]. - Loss attributable to owners of the parent for 2023 was HK$61,882,000, compared to a loss of HK$97,696,000 in 2022, representing a 36.7% improvement[54]. - Total assets as of 31 December 2023 were HK$2,178,371,000, down from HK$2,415,431,000 in 2022, indicating a decrease of 9.8%[54]. - Total liabilities as of 31 December 2023 were HK$1,954,548,000, a decrease from HK$2,143,660,000 in 2022, reflecting a reduction of 8.8%[54]. - Equity attributable to owners of the parent decreased to HK$1,885,485,000 in 2023 from HK$2,037,238,000 in 2022, a decline of 7.5%[54]. - Gross profit for 2023 was HK$38,474,000, down 17.3% from HK$46,512,000 in the previous year[145]. - Loss before tax for the year was HK$68,778,000, an improvement from a loss of HK$102,696,000 in 2022[145]. - Other income and gains for 2023 were HK$36,084,000, slightly down from HK$36,864,000 in 2022[145]. - Administrative expenses decreased to HK$89,476,000 in 2023 from HK$97,402,000 in 2022, reflecting a cost control strategy[145]. - The company reported a net other comprehensive loss of HK$91,146,000 for the year, compared to HK$177,334,000 in the previous year, a 48.5% improvement[148]. - Total comprehensive loss for the year was HK$152,867,000, down from HK$276,139,000 in 2022, indicating a 44.7% reduction[150]. Cash and Investments - As of December 31, 2023, the Group's cash and cash equivalents were approximately HK$153,324,000, a decrease of about HK$40,402,000 from HK$193,726,000 in 2022[13]. - The balance of wealth management products from banks was approximately HK$160,047,000, down from HK$220,172,000 in the previous year, indicating a decrease of approximately 27.3%[13]. - The fair value of unlisted investments was approximately HK$295 million as of December 31, 2023, categorized as Level 2 or Level 3 in the fair value valuation hierarchy[71]. - The carrying amount of other receivables was approximately HK$263 million as of December 31, 2023, which was significant for the consolidated financial statements[74]. - The net carrying amount of goodwill was approximately HK$80 million as of December 31, 2023, requiring annual impairment testing[78]. Geriatric Care Business - The geriatric care business generated revenue of approximately HK$11,726,000 in 2023, an increase of 35.9% year-on-year[62]. - Average occupancy rate of the group's geriatric care facilities improved to 79% in 2023, with all facilities achieving break-even and providing positive cash flow[62]. - The group operates 5 geriatric care facilities with a total of 1,075 beds, including 749 medical beds[62]. - The group plans to accelerate the development of its geriatric care business, aiming to add 1,000 new beds in the coming year[62]. - The Group's geriatric care institutions maintained a full occupancy rate throughout the year, reflecting strong recognition from customers and government[107][110]. - The Group's strategy focuses on integrating medical and geriatric care, aiming to become a benchmark enterprise in the geriatric care industry in China[99][106]. - The Group successfully acquired two new geriatric care projects, adding 550 beds, and plans to increase the number of beds by 1,000 in the coming year[93]. Regulatory Compliance and Governance - The Group's related party transactions during the year have been disclosed in accordance with the Listing Rules, ensuring transparency[23]. - The Company has maintained a sufficient public float throughout the year, ensuring compliance with regulatory requirements[21]. - The Group is not aware of any material breaches of applicable laws and regulations during the year ended 31 December 2023[35]. Employee Development - The group provided a total of 232 training sessions for employees, including nursing and safety training[115]. - The group emphasizes employee personal growth and has built a strong learning platform for continuous improvement[115]. Market Opportunities - The aging population in China is projected to exceed 300 million by 2025 and 420 million by 2035, creating significant market opportunities for the Group's business development[106][110]. Project Developments - The Group signed a cooperative agreement for the investment and operation of Changzhou Luoxi Geriatric Care Center, covering a total area of 15,000 sq.m. with 152 integrated medical and geriatric care beds[176]. - The Ancient Canal Cultural and Creative Building Health Care Project plans to set up about 400 integrated medical and geriatric care beds, with an expected average monthly income per bed of RMB7,000[178]. - As of December 31, 2023, the Group participated in six projects across Beijing, Shanghai, Dali, and Canada, with a total site area of over 400,000 sq.m.[180]. - The Inland Port Project in Beijing covers 87,607 sq.m. and is intended to be transformed into a new industrial park focusing on smart warehousing and digital technology[187]. - The Hongmei Road Project in Shanghai is strategically located and aims to develop landmark rental apartments, with plans to complete land conversion in 2024[187].
北京健康(02389) - 2023 - 年度财报