Financial Performance - The group recorded revenue of approximately HKD 1,833,038,000 for the year, compared to HKD 1,535,580,000 in 2022, representing an increase of about 19.4%[1] - The group reported a loss of approximately HKD 159,089,000 for the year, compared to a profit of HKD 49,522,000 in 2022, indicating a significant decline in performance[1] - The gross profit for the year was HKD 501,948,000, compared to HKD 414,446,000 in 2022, reflecting an increase of approximately 21.1%[15] - Total revenue for 2023 reached HKD 1,821,980, an increase of 19.6% from HKD 1,523,284 in 2022[26] - The net profit for 2023 was HKD 4,953, compared to HKD 3,441 in 2022, reflecting a growth of 44.1%[26] - The company reported a comprehensive loss of approximately HKD 159,089,000 for the year, compared to a profit of HKD 49,522,000 in 2022, and a loss attributable to shareholders of approximately HKD 194,210,000, down from a profit of HKD 15,289,000 in 2022[142] Cash and Liquidity - The group’s cash and cash equivalents, including bank deposits, amounted to approximately HKD 1,431,426,000 as of December 31, 2023, up from HKD 1,370,592,000 in 2022[1] - The current ratio of the group was 3.25, down from 3.90 in 2022, while the debt ratio was 2.70%, a decrease from 3.26% in the previous year[1] - The company’s cash and cash equivalents decreased to HKD 33,560,000 in 2023 from HKD 182,628,000 in 2022, reflecting changes in financing activities[78] - The group held cash and bank balances of approximately HKD 1,032,079,000 as of December 31, 2023, compared to HKD 971,939,000 in 2022[199] - The group's current assets net value was approximately HKD 1,344,516,000 as of December 31, 2023, down from HKD 1,433,526,000 in 2022[200] Dividends - The board recommended a final dividend of HKD 0.12 per share, unchanged from the previous year[1] - The company declared a final dividend of HKD 0.12 per share for the year ended December 31, 2023, down from HKD 0.15 per share in 2022, totaling approximately HKD 8,128,000 compared to HKD 11,289,000 in the previous year[48] - The company proposed a final dividend of HKD 0.12 per share for the year ended December 31, 2023, unchanged from the previous year[91] Operational Segments - Revenue from Hong Kong medical services was HKD 617,116, while revenue from mainland China hospital management services was HKD 476,710[31] - The company identified four operational segments: Hong Kong medical services, Hong Kong medical network management, mainland China hospital management, and others[27] - The Hong Kong medical services segment generated revenue of approximately HKD 770,996,000, accounting for about 42.06% of total revenue, with a growth of over 20% in patient visits[146] - The company’s Hong Kong medical network management revenue was approximately HKD 498,189,000, representing about 27.18% of total revenue, with a segment profit growth of approximately 38.51%[151] Expenses and Costs - Administrative expenses were HKD 396,200,000, slightly down from HKD 397,959,000 in the previous year[15] - The group’s financing costs increased to HKD 23,416,000 from HKD 12,684,000 in 2022, indicating a rise in financial expenses[15] - The total interest expenses increased to HKD 23,416,000 in 2023 from HKD 12,684,000 in 2022, reflecting a significant rise in borrowing costs[42] - The company reported a significant increase in employee costs, with total employee costs reaching HKD 740,650,000 in 2023, compared to HKD 718,292,000 in 2022[47] Asset Management - The group’s total assets as of December 31, 2023, were approximately HKD 1,941,888,000, compared to HKD 1,927,845,000 in 2022[17] - Non-current assets in Hong Kong decreased to HKD 1,906,475 in 2023 from HKD 2,202,127 in 2022[37] - The company’s accounts receivable increased to HKD 380,905,000 in 2023 from HKD 346,313,000 in 2022, while accounts payable rose to HKD 157,265,000 from HKD 153,488,000[74][95] - The company’s total liabilities increased to HKD 299,517,000 in 2023 from HKD 291,511,000 in 2022, reflecting a rise in other payables and accrued expenses[74] Impairment and Losses - The company recognized an impairment loss on goodwill of HKD (102,877,000) in 2023, significantly higher than the HKD (487,000) in 2022[41] - Impairment losses on various assets amounted to approximately HKD 158,112,000, a substantial increase from HKD 4,944,000 in the previous year, primarily due to adverse economic conditions in Hong Kong and mainland China[115] - The fair value change of investment properties resulted in a loss of HKD (98,626,000) in 2023, compared to a loss of HKD (6,893,000) in 2022[41] Strategic Initiatives - The company plans to expand its services in mainland China, which showed a revenue increase from HKD 476,710 in 2022 to HKD 552,795 in 2023[37] - The company plans to leverage the recovery of the tourism industry in Hong Kong to support the growth of private healthcare services[186] - The group aims to integrate healthcare resources across Hong Kong and mainland China, creating a comprehensive healthcare service ecosystem in the Greater Bay Area[188] - The company is actively participating in government-funded primary healthcare programs to enhance its collaboration with the government[188] - The high-end integrated specialty brand, Zhongzhu Medical, is planning to develop medical tourism partnerships to expand its customer base[191] Market Position and Growth - The group’s healthcare management business in mainland China continued to thrive post-pandemic, contributing significantly to revenue and profit[117] - The group plans to capture more market share by providing quality services and bidding for new business, aiming for further revenue growth[193] - Nanyang Xiangrui's hospital management business has shown steady growth, with revenue and net profit continuing to increase, highlighting the competitive advantage in hospital management[128] - TBMG recorded a double-digit revenue growth year-on-year despite challenges in the operating environment, with a total of 13 doctors employed compared to 14 in 2022[161]
康健国际医疗(03886) - 2023 - 年度业绩