Perfect Medical issues profit warning amid economic downturn

Perfect Medical Health Management Limited (HKEX:1830) has issued a profit warning, projecting profit attributable to shareholders for the year ending March 31, 2025, to be approximately HK$205 million to HK$210 million, a decrease compared to HK$316 million for the year ended March 31, 2024. The decline is attributed to economic downturn, weak consumer sentiment in Hong Kong, and increased competition from cost-effective beauty services in cities like Shenzhen and South Korea. The company is responding by launching high-value Korean medical beauty services, strengthening its loyalty program, and advancing digitalization. Despite the challenges, Perfect Medical maintains a strong balance sheet and is actively seeking new investment opportunities and strategic acquisitions to bolster its market position, including a cooperation with Korean medical beauty chain Oracle for the Hong Kong market.