2025-07-24-港交所-卓珈控股_年报2024_x2f_25页_6mb

Miricor Annual Report Summary (2024/25)

Core Content

This summary provides an overview of Miricor Enterprises Holdings Limited (卓珈控股集团有限公司) for the financial year ended 31 March 2025. The report includes corporate information, the Chairlady’s statement, management discussion and analysis, and key financial and operational performance indicators.

Key Information

Corporate Information

• Registered Office: Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, Cayman Islands
• Headquarters: 18/F, Nan Fung Tower, 88 Connaught Road Central, Central, Hong Kong
• Key Entities:
  • Board of Directors:
    • Executive Directors: Ms. Lai Ka Yee Gigi (Chairlady & CEO), Mr. Ho Tsz Leung Lincoln, Dr. Lam Ping Yan
    • Independent Non-Executive Directors: Mr. Cheng Fu Kwok David, Mr. Cheng Yuk Wo, Mr. Li Wai Kwan
  • Committees:
    • Audit Committee: Mr. Cheng Yuk Wo (Chairman), Mr. Cheng Fu Kwok David, Mr. Li Wai Kwan
    • Remuneration Committee: Mr. Cheng Yuk Wo (Chairman), Ms. Lai Ka Yee Gigi, Mr. Li Wai Kwan
    • Nomination Committee: Ms. Lai Ka Yee Gigi (Chairlady), Mr. Cheng Fu Kwok David, Mr. Cheng Yuk Wo
  • Authorized Representatives: Mr. Ho Tsz Leung Lincoln, Mr. Lo Tai On
  • Company Secretary: Mr. Lo Tai On
  • Auditor: Ernst & Young, Certified Public Accountants, Registered Public Interest Entity Auditor
  • Public Relations Consultant: Strategic Financial Relations Limited
  • Stock Code: 1827
  • Website: www.miricor.com

Main Points from the Chairlady's Statement

FY2025 Performance Highlights

• Total Revenue: HK$403.2 million (down 18.4% YoY from HK$494.3 million in FY2024)
• EBITDA (Bank Loan Interest, Taxes, and Depreciation): HK$58.6 million (up 84.9% YoY)
• Net Profit: HK$10.6 million (turnaround from a net loss of HK$12.6 million in FY2024)

Business Performance

• Medical Aesthetics Business: Operates 3 CosMax+ Medical Aesthetics Centres in Hong Kong’s core business districts. Services are stable and continue to innovate, introducing new treatments.
• Wellness Beauty Business: VITAE brand, with a focus on "balanced aesthetic experience for body, mind, and soul", operates 2 treatment centres.
• Skincare Retail Business: XOVE brand, based on Swiss scientific research, has 3 physical stores in Hong Kong’s first-tier malls and is expanding e-commerce channels in Mainland China.

Financial Position

• Maintained healthy cash flow and low gearing ratios, resulting in a stable financial structure.
• Adopted prudent operating strategies and flexible sales strategies, along with detailed cost control, to improve profitability.

Operational Efficiency

• Reduced operating expenses by 24.5% YoY through supply chain optimization and other efficiency measures.
• Customer satisfaction and retention improved, with a growing customer base.

Strategic Focus

• The Group adheres to four core strategies:
  1. Branding: Strengthen brand influence and competitiveness through digital marketing and customer insights.
  2. Customer-Focused: Enhance customer loyalty and identity through tailored strategies and campaigns.
  3. Professionalism: Improve staff skills and service quality via continuous training and innovation.
  4. Management Optimization: Streamline processes and enhance digital management systems to improve overall efficiency.

Industry Outlook and Future Strategies

• Market Growth: The medical aesthetics and wellness beauty market in Hong Kong is expected to grow steadily, driven by demand for personalized and high-quality services.
• Consumer Trends:
  • Younger consumers (20–40 years) are the main demographic, with an increasing proportion of male customers.
  • Social media and influencers are playing a significant role in driving consumer interest.
• Competition: Market competition is intensifying, especially from small and medium-sized institutions, prompting the need for branding and innovation.
• Future Focus:
  • Continue to drive sustainable growth through quality and innovation.
  • Enhance brand value and financial prudence.
  • Expand online and offline integration and sales channels to support long-term development.

ESG and Corporate Governance

• Environmental: Implemented Green Office Practices, reducing energy and resource consumption.
• Social: Supported the Cancer Fund’s “Pink Revolution” for the fourth consecutive year, demonstrating social responsibility.
• Corporate Governance:
  • Maintained diversified board composition.
  • Established multi-channel communication platforms to engage with stakeholders.

Financial Highlights (2025 vs 2024)

Conclusion

Miricor has demonstrated resilience and strategic adaptability in FY2025, achieving a turnaround from loss to profit. The Group is focused on innovation, customer-centric approaches, and ESG commitments to ensure sustainable development and long-term value creation for shareholders, customers, and employees.