Financial Performance - The company recorded revenue of approximately HKD 185.9 million for the year ended December 31, 2023, a decrease of 2.9% compared to HKD 191.5 million in 2022[5]. - The net profit attributable to shareholders was approximately HKD 7.47 million, a significant improvement from a loss of HKD 123.3 million in 2022, resulting in earnings per share of HKD 0.15 compared to a loss per share of HKD 2.45 in the previous year[5]. - The group's revenue for the year ended December 31, 2023, was approximately HKD 185.9 million, a decrease of 2.9% compared to HKD 191.5 million for the year ended December 31, 2022[28]. - The profit attributable to shareholders for the year was approximately HKD 7.47 million, with basic earnings per share of HKD 0.15, compared to a loss of approximately HKD 123.3 million and basic loss per share of HKD 2.45 in 2022[28]. - The gross profit for the year was HKD 81,100,000, a decrease of approximately HKD 1,500,000 compared to HKD 82,600,000 in 2022, primarily due to a decline in selling prices in mainland China[29]. - The gross profit margin increased to 43.6%, up from 43.1% in 2022, reflecting a higher revenue proportion from the dental business segment[29]. Dental Business Development - The dental business continues to show stable revenue growth, with over 2,200 partnerships established with major hospitals and dental institutions across China[6]. - The company plans to expand its dental business both domestically and internationally, including increasing production capacity in China and developing high-end dental products with cosmetic functions[9]. - Future strategies include establishing a dental implant production facility in Chengdu to reduce production costs and support large-scale manufacturing[9]. - The group has expanded its dental implant R&D team and received acceptance for more implant size registration applications, leading to significant growth in the implant business in 2023[18]. - The group plans to enhance its dental business by expanding sales networks domestically and internationally, particularly in the U.S., and developing high-end dental products[25]. - The overall market for dental medicine in China is expected to release significant growth potential, providing long-term sustainable development opportunities for the company[10]. Rehabilitation Business Development - The rehabilitation business has established four outpatient clinics in Shenzhen, focusing on post-operative recovery and sports injury rehabilitation, amidst a competitive market landscape[7]. - The company aims to enhance its brand reputation through refined operations and professional development in the rehabilitation sector, while also introducing medical product designs to improve performance[10]. - The rehabilitation business will focus on improving rehabilitation products and service levels in response to increasing competition in the market[27]. Research and Development - Research and development expenses for the year were approximately HKD 16.8 million, reflecting the management's commitment to investing in future technologies[18]. - The company is committed to increasing R&D investment and introducing skilled professionals to meet the growing demand for dental healthcare[10]. Corporate Governance - The company has a commitment to corporate governance with independent directors ensuring transparency and accountability in decision-making processes[54][56]. - The board includes independent directors with diverse expertise, such as Dr. Liu Yanwen in technology economics and Dr. Lv Aiping in traditional Chinese medicine, which supports the company's strategic development[54][56]. - The company emphasizes the importance of effective corporate governance as a key factor for maintaining development and enhancing shareholder value[62]. - The board consists of a balanced mix of executive and independent non-executive directors, ensuring compliance with listing rules regarding independence[67]. - The company has complied with the corporate governance code, except for the absence of an internal audit function, which is reviewed annually[62]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report covers the performance of subsidiaries that account for over 90% of the group's total revenue[123]. - The report adheres to the guidelines set by the Hong Kong Stock Exchange for ESG reporting, ensuring compliance and transparency[124]. - The group aims to manage the environmental and social impacts of its operations while fulfilling its responsibilities to enhance sustainability and transparency[130]. - The company encourages stakeholder feedback on ESG policies and performance, highlighting its commitment to continuous improvement[128]. - The company identified 21 key ESG issues based on their importance to stakeholders and business development[137]. Employee Management and Safety - The company has a total of 893 employees with an overall employee turnover rate of approximately 39.7%[170]. - The company has implemented a safety training program, resulting in zero work-related fatalities and zero lost workdays due to injuries in 2023[174]. - The company conducts annual medical examinations for employees engaged in hazardous work[174]. - The company has a policy to ensure equal opportunities and prevent discrimination based on various factors, including gender and age[166]. Risk Management - The group has identified and assessed significant risks that could threaten the achievement of its business objectives[105]. - The internal control system has been deemed effective and sufficient during the year[105]. - The board will conduct at least an annual review of the adequacy and effectiveness of the group's risk management and internal control systems[104].
佳兆业健康(00876) - 2023 - 年度财报