Commentary:

           Established in 2005, the company was one of the well-known aesthetic medical service provider in Hong Kong. Operating under the brand name, DR REBORN, the brand developed into one of the popular aesthetic medical provider in Hong Kong. Building on their success of DR REBORN, the company began to diversify into medical, dental as well as other medical services. After series of acquisition and consolidation, the company's services are now composed of the following: Medical services, Aesthetic medical and beauty and welless services and Others. As on 31st March 2024, the company operated 182 services points in Hong Kong, Macau and Mainland China.

           The company released its 2023/24 annual result on the 31st of July 2024, the table below briefly summarised the company's performance:

Source: Company's annual reports

           Overall, the company's revenue was up 8.67% y-o-y to HK$4,211 million. However, EBITDA  was down 9.79% y-o-y to HK$388.13 million and record a net loss of HK$ 18.95 million. The decline could be contributed to the challenging condition including uncertainity in the global economy and decline in consumer demand. In terms of geograhic contribution, Hong Kong reported revenue HK$3,961.93 million, up 10.7% y-o-y and representing approximately 92.3% of the group's overall revenue, while Macau reported revenue HK$ 125.65 million, down 2.47% y-o-y and Mainland China had HK$ 123.45 million, down 26.9% y-o-y.

Overall financial summry of the company from 2020 to 2024:

Source: Company's annual reports

Companies comparison (09/10/2024)

Source: Etnet

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” I, Ni Kwok Kuen Alex, am a licensed person under the Securities and Futures Commission. Until the date this commentary was published, neither I and/or my affiliates are the beneficiary of the securities mentioned herein or are entitled to any financial interests in relation thereto. “