2020 Annual Report
(Incorporated in Israel with limited liability) Enhancing Quality of Life 2020 Annual Report Sisram Med Stock Code: 1696.HK Contents 2 Financial Summary 3 Chairman’s Statement 5 Chief Executive Officer’s Review 7 Management Discussion and Analysis 24 Report of the Directors 33 Corporate Governance Report 45 Biographical Details of Directors and Senior Management 50 Independent Auditor’s Report 56 Consolidated Statement of Profit or Loss 57 Consolidated Statement of Comprehensive Income 58 Consolidated Statement of Financial Position 59 Consolidated Statement of Changes in Equity 61 Consolidated Statement of Cash Flows 63 Notes to the Financial Statements 135 Environmental, Social and Governance Report 168 Corporate Information 170 Definitions Financial Summary The following is a summary of the published results and assets and liabilities of the Group for the last five financial years prepared on the basis set out in the note below. Results Year ended December 31, 2020 2019 2018 2017 2016 US$’000 US$’000 US$’000 US$’000 US$’000 Operating results Revenue 162,095 173,520 153,919 136,887 118,156 Gross profit 90,301 95,874 82,297 73,197 62,223 Profit before tax 16,662 24,839 22,784 15,821 11,860 Profit for the year 14,680 21,935 21,831 11,049 8,501 Profit attributable to owners of the parent 13,344 20,785 21,831 11,049 8,055 Profitability Gross margin 55.7% 55.3% 53.5% 53.5% 52.7% Net profit margin 9.1% 12.6% 14.2% 8.1% 7.2% Assets and liabilities As at December 31, 2020 2019 2018 2017 2016 US$’000 US$’000 US$’000 US$’000 US$’000 Assets and liabilities Total assets 431,806 392,832 350,075 346,615 279,161 Total liabilities 99,917 67,262 35,975 53,639 238,675 Net assets 331,889 325,570 314,100 292,976 40,486 Cash and bank balances 116,527 107,792 104,530 104,137 41,653 Note: The consolidated results of the Group for the five years ended December 31, 2016, 2017, 2018, 2019 and 2020 and the consolidated assets and liabilities of the Group as at December 31, 2016, 2017, 2018, 2019 and 2020 have been extracted from the published audited consolidated financial statements.
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