Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 1,923,964, representing an increase of 11.1% compared to HKD 1,731,903 in 2022[2] - Core medical services revenue increased by 32.9% to HKD 1,904,531 from HKD 1,433,561 in the previous year[2] - Gross profit rose by 38.3% to HKD 618,962, with a gross margin of 32.2%, up from 25.9% in 2022[2][4] - The company reported a net profit of HKD 86,335, a significant recovery from a loss of HKD 46,225 in 2022[3][4] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 52.4% to HKD 343,491 from HKD 225,351 in the prior year[2] - The net profit margin for the year was 4.5%, compared to a negative margin in the previous year[2] - Basic earnings per share improved to HKD 4.94 in 2023 from a loss of HKD 1.77 in 2022[31] Revenue Breakdown - Revenue from ophthalmology services reached HKD 1,266,248,000, up 17.8% from HKD 1,074,301,000 in the previous year[15] - Dental services revenue increased significantly to HKD 428,098,000, compared to HKD 163,853,000 in 2022, marking a growth of 160.7%[15] - Revenue from COVID-19 related medical supplies decreased significantly from HKD 298.3 million in 2022 to HKD 19.4 million in 2023[38] - Revenue from the Beijing ophthalmology hospital increased by 67.2% to HKD 100.2 million in 2023[46] - Revenue from the acquired Kunming and Zhuhai ophthalmology hospitals contributed HKD 67.6 million and HKD 42.8 million respectively in 2023[47] - The contribution of Hong Kong to total revenue decreased from 63.7% in 2022 to 49.5% in 2023, primarily due to reduced sales of COVID-19 related medical supplies[51] Assets and Liabilities - Cash and cash equivalents decreased to HKD 512,762 from HKD 644,698 in 2022[8] - Total assets decreased to HKD 2,748,635 from HKD 2,901,687 in the previous year[9] - Total liabilities decreased to HKD 755,349 from HKD 903,448 in 2022, indicating improved financial stability[9] - Total non-current assets as of December 31, 2023, were valued at approximately HKD 1,807,346,000, down from HKD 1,892,072,000 in 2022[22] Operational Highlights - The company plans to continue expanding its core medical services and exploring new product development opportunities in the upcoming year[3] - The company operates six dental clinics, three general clinics, and one oncology center in Hong Kong as of December 31, 2023[39] - The company operates nine ophthalmology hospitals and two ophthalmology centers in mainland China, with a new hospital in Foshan starting operations in August 2023[41] - The company plans to establish or acquire ophthalmology hospitals, centers, and clinics in selected cities in Hong Kong, Shenzhen, and mainland China, including the Greater Bay Area[80] Future Outlook - Future outlook remains positive with expectations of continued growth in both ophthalmology and dental service sectors[18] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19] - The company aims to enhance its operational capabilities and service capacity while seeking strategic partners to develop, produce, and distribute products related to myopia prevention[80] Shareholder Information - The company did not recommend a final dividend for the year ended December 31, 2023, consistent with 2022[34] - The board of directors does not recommend the payment of a final dividend for the year ending December 31, 2023[108] - The annual general meeting will be held on May 28, 2024, and shareholders must ensure their documents are submitted by May 22, 2024, to be eligible to vote[109] Corporate Governance - The board of directors believes that having the same individual serve as both chairman and CEO enhances the company's efficiency and effectiveness in strategy formulation and execution[81] - The audit committee has reviewed the financial statements and discussed risk management and internal controls with management[97] Capital Expenditures and Funding - Capital expenditures amounted to HKD 224.2 million in 2023, mainly for the acquisition of right-of-use assets and renovation of leased properties[72] - The company raised approximately HKD 490.6 million from the first subscription, with a net subscription price of about HKD 6.41 per share[92] - The proceeds from the first subscription are intended for acquisitions and general operational funding[95] Share Repurchase - The company repurchased a total of 10,998,000 ordinary shares at a total cost of HKD 41,631,058 during the year ended December 31, 2023[101] - The board believes that the share repurchase is in the best interest of the company and its shareholders, potentially enhancing the net asset value per share and/or earnings per share[102]
希玛眼科(03309) - 2023 - 年度业绩