| 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | AEON 信貸財務（亞洲）有限公司 | | 股份代號 | 00900 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 截至二零二五年八月三十一日止六個月之中期業績 | | | 公告日期 | 2025年9月30日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2026年2月28日 | | 宣派股息的報告期末 | 2025年8月31日 | | 宣派股息 | 每 股 0.25 HKD | | 股東批准日期 | 不適用 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.25 HKD | | 匯率 | 1 HKD : 1 HKD | | ...

[Condensed Consolidated Statement of Profit or Loss](index=1&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) This statement presents the group's financial performance for the six months ended August 31, 2025, showing profit for the period and basic earnings per share Condensed Consolidated Statement of Profit or Loss (For the six months ended August 31, 2025) | Indicator | August 31, 2025 (HKD '000) | August 31, 2024 (HKD '000) | | :--- | :--- | :--- | | Revenue | 897,143 | 860,321 | | Net interest income | 698,847 | 669,955 | | Operating income | 846,814 | 804,215 | | Operating expenses | (371,184) | (378,246) | | Operating profit before impairment losses and provisions | 475,630 | 425,969 | | Impairment losses and provisions | (206,031) | (236,101) | | Profit before tax | 281,327 | 203,211 | | Profit for the period | 233,600 | 170,361 | | Basic earnings per share | 55.78 HK cents | 40.68 HK cents | [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) This statement details the profit for the period and other comprehensive income components, leading to the total comprehensive income for the six months ended August 31, 2025 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended August 31, 2025) | Indicator | August 31, 2025 (HKD '000) | August 31, 2024 (HKD '000) | | :--- | :--- | :--- | | Profit for the period | 233,600 | 170,361 | | Fair value gain on equity instruments at fair value through other comprehensive income | 4,692 | 5,333 | | Exchange differences on translation of foreign operations | 5,741 | 2,261 | | Fair value adjustment of cash flow hedges, net of tax | (13,093) | (10,741) | | Fair value adjustment of cash flow hedges reclassified to profit or loss | 2,515 | (8,665) | | Other comprehensive expense for the period | (145) | (11,812) | | Total comprehensive income for the period | 233,455 | 158,549 | [Condensed Consolidated Statement of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) This statement presents the group's assets, liabilities, and equity as of August 31, 2025, highlighting key financial positions Condensed Consolidated Statement of Financial Position (As at August 31, 2025) | Indicator | August 31, 2025 (HKD '000) | February 28, 2025 (HKD '000) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Loans and receivables from customers | 1,402,593 | 1,459,302 | | **Current Assets** | | | | Loans and receivables from customers | 5,866,324 | 5,605,137 | | Bank balances and cash | 246,189 | 226,220 | | **Current Liabilities** | | | | Payables and accruals | 267,726 | 226,351 | | Borrowings from direct holding company | 955,000 | 900,000 | | Bank borrowings | 1,207,297 | 1,015,149 | | **Equity and Reserves** | | | | Total equity | 4,379,925 | 4,251,161 | | **Non-current Liabilities** | | | | Bank borrowings | 980,000 | 1,239,685 | [Condensed Consolidated Statement of Changes in Equity](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) This statement outlines the changes in the group's equity and reserves for the six months ended August 31, 2025, including profit, other comprehensive income, and dividends Condensed Consolidated Statement of Changes in Equity (For the six months ended August 31, 2025) | Item | Share Capital (HKD '000) | Investment Revaluation Reserve (HKD '000) | Hedging Reserve (HKD '000) | Translation Reserve (HKD '000) | Accumulated Profits (HKD '000) | Total (HKD '000) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | As at March 1, 2024 | 269,477 | 68,821 | 35,582 | (16,468) | 3,710,581 | 4,067,993 | | Profit for the period | – | – | – | – | 170,361 | 170,361 | | Total comprehensive income (expense) for the period | – | 5,333 | (19,406) | 2,261 | 170,361 | 158,549 | | Final dividend paid (2023/24) | – | – | – | – | (100,504) | (100,504) | | As at August 31, 2024 | 269,477 | 74,154 | 16,176 | (14,207) | 3,780,438 | 4,126,038 | | As at March 1, 2025 | 269,477 | 82,358 | 8,552 | (19,277) | 3,910,051 | 4,251,161 | | Profit for the period | – | – | – | – | 233,600 | 233,600 | | Total comprehensive income (expense) for the period | – | 4,692 | (10,578) | 5,741 | 233,600 | 233,455 | | Final dividend paid (2024/25) | – | – | – | – | (104,691) | (104,691) | | As at August 31, 2025 | 269,477 | 87,050 | (2,026) | (13,536) | 4,038,960 | 4,379,925 | [Condensed Consolidated Statement of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statement%20of%20Cash%20Flows) This statement summarizes the cash flows from operating, investing, and financing activities for the six months ended August 31, 2025 Condensed Consolidated Statement of Cash Flows (For the six months ended August 31, 2025) | Item | August 31, 2025 (HKD '000) | August 31, 2024 (HKD '000) | | :--- | :--- | :--- | | Net cash generated from (used in) operating activities | 172,425 | (201) | | Net cash used in investing activities | (8,861) | (29,065) | | Net cash generated from (used in) financing activities | (146,934) | 54,979 | | Net increase in cash and cash equivalents | 16,630 | 25,713 | | Effect of exchange rate changes | 249 | (16) | | Cash and cash equivalents at beginning of period | 244,090 | 271,658 | | Cash and cash equivalents at end of period | 260,969 | 297,355 | [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements [1. Basis of Preparation](index=7&type=section&id=1.%20Basis%20of%20Preparation) This note details the accounting standards and regulations used for preparing the condensed consolidated financial statements - These condensed consolidated financial statements are prepared in accordance with Hong Kong Accounting Standard 34 "Interim Financial Reporting" and applicable disclosure requirements of the HKEX Listing Rules[8](index=8&type=chunk) - The financial statements for the year ended February 28, 2025, have been filed with the Hong Kong Companies Registry, and the auditor's report was unqualified[8](index=8&type=chunk)[9](index=9&type=chunk) [2. Accounting Policies](index=7&type=section&id=2.%20Accounting%20Policies) This note describes the principal accounting policies applied in the preparation of the condensed consolidated financial statements - The condensed consolidated financial statements are prepared on a historical cost basis, with certain financial instruments measured at fair value[10](index=10&type=chunk) - Revisions to Hong Kong Financial Reporting Standards, mandatory for periods beginning on or after March 1, 2025, were first applied in this interim period but had no significant impact on financial position or performance[10](index=10&type=chunk)[11](index=11&type=chunk) [3. Revenue](index=8&type=section&id=3.%20Revenue) This note provides a breakdown of the group's revenue by category and business segment for the period Total Revenue Composition (For the six months ended August 31, 2025) | Revenue Category | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Interest income | 754,456 | 734,492 | | Collection fees and commissions | 67,592 | 62,148 | | Handling fees and late charges | 75,095 | 63,681 | | Total revenue | 897,143 | 860,321 | Revenue by Business Segment (For the six months ended August 31, 2025) | Business Segment | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Credit Card | 713,992 | 668,977 | | Personal Loan | 166,697 | 175,961 | | Insurance | 16,454 | 15,383 | | Total | 897,143 | 860,321 | [4. Segment Information](index=9&type=section&id=4.%20Segment%20Information) This note presents financial information by business and geographical segments, highlighting performance contributions - The group's operating and reportable segments include credit card services, personal loan financing, and insurance agency and advisory services[13](index=13&type=chunk) Revenue and Results by Business Segment (For the six months ended August 31, 2025) | Business Segment | Revenue (HKD '000) | Segment Results (HKD '000) | | :--- | :--- | :--- | | Credit Card | 713,992 | 264,568 | | Personal Loan | 166,697 | 11,503 | | Insurance | 16,454 | 7,271 | | Consolidated Total | 897,143 | 283,342 | Revenue and Results by Geographical Segment (For the six months ended August 31, 2025) | Region | Revenue (HKD '000) | Segment Results (HKD '000) | | :--- | :--- | :--- | | Hong Kong | 872,057 | 293,318 | | Mainland China | 25,086 | (9,976) | | Consolidated Total | 897,143 | 283,342 | [5. Interest Income](index=11&type=section&id=5.%20Interest%20Income) This note details the composition of interest income, primarily from customer loans, for the reporting period Interest Income Composition (For the six months ended August 31, 2025) | Source | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Non-credit impaired customer loans | 741,608 | 723,887 | | Credit impaired customer loans | 12,060 | 10,212 | | Time deposits and bank balances | 788 | 393 | | Total | 754,456 | 734,492 | [6. Interest Expense](index=11&type=section&id=6.%20Interest%20Expense) This note outlines the components of interest expense, including borrowings from the direct holding company and banks Interest Expense Composition (For the six months ended August 31, 2025) | Source | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Interest on borrowings from direct holding company | 7,853 | 17,101 | | Interest on bank borrowings | 41,674 | 47,849 | | Interest on lease liabilities | 2,417 | 2,857 | | Net interest expense (income) on interest rate swap contracts | 3,665 | (3,270) | | Total | 55,609 | 64,537 | [7. Other Income](index=11&type=section&id=7.%20Other%20Income) This note presents the breakdown of other income, mainly from marketing support funds, for the reporting period Other Income Composition (For the six months ended August 31, 2025) | Source | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Marketing support funds | 3,713 | 7,758 | | Others | 2,206 | 555 | | Total | 5,919 | 8,313 | [8. Other Gains and Losses](index=12&type=section&id=8.%20Other%20Gains%20and%20Losses) This note details the net other gains and losses, including exchange differences and disposal losses, for the period Other Gains and Losses Composition (For the six months ended August 31, 2025) | Item | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Exchange gain on hedging instruments realized from cash flow hedging reserve | 1,150 | 5,395 | | Exchange loss on bank borrowings | (1,150) | (5,395) | | Other net exchange losses | (117) | (50) | | Net ineffective portion of cash flow hedges | (4) | 202 | | Loss on disposal of property, plant and equipment | (518) | (34) | | Total | (639) | 118 | [9. Operating Expenses](index=12&type=section&id=9.%20Operating%20Expenses) This note provides a detailed breakdown of operating expenses, including depreciation, amortization, and staff costs Operating Expenses Composition (For the six months ended August 31, 2025) | Item | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Depreciation of property, plant and equipment | 22,641 | 20,495 | | Amortization of intangible assets | 4,079 | 3,030 | | Depreciation of right-of-use assets | 26,464 | 30,927 | | Expenses relating to short-term leases | 1,010 | 1,614 | | General administrative expenses | 115,978 | 113,306 | | Marketing and advertising expenses | 39,657 | 50,818 | | Other operating expenses | 38,945 | 38,828 | | Staff costs | 122,410 | 119,228 | | Total | 371,184 | 378,246 | [10. Income Tax Expense](index=13&type=section&id=10.%20Income%20Tax%20Expense) This note details the income tax expense, including current and deferred tax, and applicable tax rates for Hong Kong and Mainland China Income Tax Expense Composition (For the six months ended August 31, 2025) | Item | 2025 (HKD '000) | 2024 (HKD '000) | | :--- | :--- | :--- | | Current tax — Hong Kong profits tax | 49,797 | 37,868 | | Current tax — Mainland China enterprise income tax | 69 | 110 | | Deferred tax | (2,139) | (5,128) | | Total | 47,727 | 32,850 | - Hong Kong profits tax is calculated at a rate of **16.5%**, while Mainland China subsidiaries are subject to a **25%** tax rate, with an effective rate of **5%** for qualifying small-profit enterprises[19](index=19&type=chunk)[20](index=20&type=chunk) [11. Dividends](index=13&type=section&id=11.%20Dividends) This note reports the final dividend paid and the interim dividend declared for the reporting period - The final dividend for FY2024/25 was **25.0 HK cents per share**, totaling **HKD 104,691 thousand**, paid on July 31, 2025[21](index=21&type=chunk) - The Board has declared an interim dividend of **25.0 HK cents per share**, totaling **HKD 104,691 thousand**, payable on November 4, 2025[21](index=21&type=chunk) [12. Earnings Per Share — Basic](index=13&type=section&id=12.%20Earnings%20Per%20Share%20%E2%80%94%20Basic) This note calculates the basic earnings per share based on the profit for the period and the number of ordinary shares Basic Earnings Per Share (For the six months ended August 31, 2025) | Indicator | August 31, 2025 | August 31, 2024 | | :--- | :--- | :--- | | Profit for the period (HKD '000) | 233,600 | 170,361 | | Number of shares issued (shares) | 418,765,600 | 418,765,600 | | Basic earnings per share (HK cents) | 55.78 | 40.68 | [13. Loans and Receivables from Customers](index=14&type=section&id=13.%20Loans%20and%20Receivables%20from%20Customers) This note details the composition and aging analysis of customer loans and receivables, including impairment provisions Loans and Receivables from Customers Composition (As at August 31, 2025) | Item | August 31, 2025 (HKD '000) | February 28, 2025 (HKD '000) | | :--- | :--- | :--- | | Credit card receivables | 5,698,165 | 5,481,474 | | Personal loan receivables | 1,593,666 | 1,631,788 | | Interest and other receivables | 232,154 | 216,116 | | Total loans and receivables from customers | 7,523,985 | 7,329,378 | | Impairment provisions | (255,068) | (264,939) | | Net amount | 7,268,917 | 7,064,439 | - As of the reporting period end, all customer loans and receivables are **unsecured**[23](index=23&type=chunk) Analysis of Gross Balance of Loans and Receivables from Customers (Excluding Impairment Provisions) (As at August 31, 2025) | Stage | August 31, 2025 (HKD '000) | Percentage of Total (%) | February 28, 2025 (HKD '000) | Percentage of Total (%) | | :--- | :--- | :--- | :--- | :--- | | Stage 1 | 7,221,719 | 96.0 | 7,018,669 | 95.8 | | Stage 2 | 51,422 | 0.7 | 65,548 | 0.9 | | Stage 3 | 250,844 | 3.3 | 245,161 | 3.3 | | Total | 7,523,985 | 100.0 | 7,329,378 | 100.0 | [14. Impairment Provisions](index=15&type=section&id=14.%20Impairment%20Provisions) This note provides a breakdown and movement analysis of impairment provisions for various customer loan categories Impairment Provisions Composition (As at August 31, 2025) | Item | August 31, 2025 (HKD '000) | February 28, 2025 (HKD '000) | | :--- | :--- | :--- | | Credit card receivables | 137,610 | 140,479 | | Undrawn credit card facilities | 2,579 | 2,668 | | Personal loan receivables | 109,494 | 116,177 | | Interest and other receivables | 5,385 | 5,615 | | Total | 255,068 | 264,939 | - Impairment provisions for personal loan receivables include **HKD 43,366 thousand** for restructured loans (February 28, 2025: HKD 41,679 thousand)[28](index=28&type=chunk) Analysis of Movement in Impairment Provisions (As at August 31, 2025) | Item | Stage 1 (HKD '000) | Stage 2 (HKD '000) | Stage 3 (HKD '000) | Total (HKD '000) | | :--- | :--- | :--- | :--- | :--- | | As at March 1, 2025 | 149,624 | 24,720 | 90,595 | 264,939 | | Net increase (repayment) in customer loans and receivables | 9,106 | (1,286) | (8,613) | (793) | | Total transfers between stages | 16,885 | (62,066) | 45,181 | – | | Remeasurement of expected credit losses during the period | (25,618) | 58,236 | 174,206 | 206,824 | | Amounts written off as uncollectible | – | – | (216,237) | (216,237) | | As at August 31, 2025 | 150,107 | 19,666 | 85,295 | 255,068 | [15. Prepayments, Deposits and Other Receivables](index=16&type=section&id=15.%20Prepayments,%20Deposits%20and%20Other%20Receivables) This note details the composition of prepayments, deposits, and other receivables, distinguishing between current and non-current portions Prepayments, Deposits and Other Receivables Composition (As at August 31, 2025) | Item | August 31, 2025 (HKD '000) | February 28, 2025 (HKD '000) | | :--- | :--- | :--- | | Deposits for property, plant and equipment | 1,333 | 2,137 | | Deposits for intangible assets | 166 | 23 | | Lease and other deposits | 16,586 | 15,071 | | Prepaid operating expenses | 57,884 | 53,696 | | Other receivables | 53,178 | 30,072 | | Total | 129,147 | 100,999 | | Current portion under current assets | (106,337) | (79,388) | | Amounts due after one year | 22,810 | 21,611 | [16. Payables and Accruals / Contract Liabilities](index=17&type=section&id=16.%20Payables%20and%20Accruals%20%2F%20Contract%20Liabilities) This note provides an aging analysis of payables and accruals, and details contract liabilities including deferred revenue from customer loyalty programs Aging Analysis of Payables (As at August 31, 2025) | Aging | August 31, 2025 (HKD '000) | February 28, 2025 (HKD '000) | | :--- | :--- | :--- | | Within 1 month | 141,166 | 77,449 | | Over 1 month but not exceeding 3 months | 2,018 | 1,044 | | Over 3 months | 1,087 | 429 | | Total | 144,271 | 78,922 | - As at August 31, 2025, deferred revenue from customer loyalty programs included in contract liabilities amounted to **HKD 52,208 thousand** (February 28, 2025: HKD 42,024 thousand)[32](index=32&type=chunk) [17. Bank / Borrowings from Direct Holding Company](index=17&type=section&id=17.%20Bank%20%2F%20Borrowings%20from%20Direct%20Holding%20Company) This note details the group's bank and direct holding company borrowings, including repayment schedules and compliance with financial covenants Bank / Borrowings from Direct Holding Company (As at August 31, 2025) | Item | Bank Borrowings (HKD '000) | Borrowings from Direct Holding Company (HKD '000) | Total (HKD '000) | | :--- | :--- | :--- | :--- | | Repayable within one year | 1,207,297 | 955,000 | 2,162,297 | | Repayable after one year but not exceeding two years | 880,000 | – | 880,000 | | Repayable after two years but not exceeding five years | 100,000 | – | 100,000 | | Total | 2,187,297 | 955,000 | 3,142,297 | - The group secured a new **HKD 300,000 thousand** short-term sustainability-linked loan during the period and complied with financial covenants, including net consolidated equity not less than **HKD 3,000,000 thousand** and an EBITDA to interest expense ratio not less than **3.50 to 1**[33](index=33&type=chunk) [18. Derivative Financial Instruments](index=18&type=section&id=18.%20Derivative%20Financial%20Instruments) This note describes the group's derivative financial instruments, primarily used for hedging, and their credit risk profile Derivative Financial Instruments (As at August 31, 2025) | Item | Assets (HKD '000) | Liabilities (HKD '000) | | :--- | :--- | :--- | | Interest rate swap contracts | 2,946 | 12,459 | | Cross currency interest rate swap contracts | – | 21,707 | | Total | 2,946 | 34,166 | | Current portion | (1,191) | (22,155) | | Non-current portion | 1,755 | 12,011 | - All derivative financial instruments are used for **hedging purposes** and carry limited credit risk as counterparties are highly credit-rated banks[34](index=34&type=chunk) [Management Discussion and Analysis](index=20&type=section&id=Management%20Discussion%20and%20Analysis) This section provides management's perspective on the group's operational and financial performance, outlook, and strategies [Business Review](index=20&type=section&id=Business%20Review) This review covers the group's strategic responses to economic challenges, sales performance, and initiatives in credit risk management and AI adoption - Facing economic challenges in Hong Kong and Mainland China, the group adopted a more **conservative sales and receivables growth strategy**, prioritizing maximum returns and mitigating credit risk[38](index=38&type=chunk) - Overall sales increased by **4.4% year-on-year**, primarily driven by growth in credit card sales, with total customer loans and receivables growing by **2.7%**[39](index=39&type=chunk) - The group effectively reduced advertising costs, launched green personal loan products, and actively explored **AI applications** to drive innovation and streamline processes[40](index=40&type=chunk)[41](index=41&type=chunk) [Interim Dividend](index=21&type=section&id=Interim%20Dividend) This section details the interim dividend declared and its alignment with the group's dividend policy - The Board declared an interim dividend of **25.0 HK cents per share** (last year: 24.0 HK cents per share), representing a dividend payout ratio of **44.8%**[43](index=43&type=chunk) - This dividend policy aligns with the group's commitment to distribute no less than **30.0% of net profit** annually[43](index=43&type=chunk) [Financial Review](index=21&type=section&id=Financial%20Review) This review analyzes the group's financial performance, including profit, earnings per share, and key financial ratios for the period Key Financial Performance (For the six months ended August 31, 2025) | Indicator | FY2025/26 H1 (million HKD) | FY2024/25 H1 (million HKD) | Year-on-year Growth (%) | | :--- | :--- | :--- | :--- | | Profit before tax | 281.3 | 203.2 | 38.4 | | Profit after tax | 233.6 | 170.4 | 37.1 | | Earnings per share (HK cents) | 55.78 | 40.68 | 37.1 | - As at August 31, 2025, the **net debt to equity ratio was 0.7**, and equity as a percentage of total assets was **54.2%**[44](index=44&type=chunk) - As at August 31, 2025, net asset value per share (after deducting interim dividend) was **HKD 10.2**[45](index=45&type=chunk) [Consolidated Statement of Profit or Loss Analysis](index=22&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20Analysis) This analysis examines revenue growth, net interest income, operating expenses, and impairment provisions, highlighting key performance drivers - Revenue increased by **4.3% to HKD 897.1 million**, primarily driven by sustained growth in credit card revolving receivables, offsetting a decline in personal loan receivables[46](index=46&type=chunk)[47](index=47&type=chunk) - Net interest income grew by **4.3% to HKD 698.8 million**, with the average funding cost decreasing from **4.1% to 3.4%**[48](index=48&type=chunk) - Total operating expenses decreased by **1.9% to HKD 371.2 million**, improving the cost-to-income ratio from **47.0% to 43.8%**[52](index=52&type=chunk) - Impairment losses and provisions decreased by **12.7% to HKD 206.0 million**, improving the ratio to revenue from **27.4% to 23.0%**[53](index=53&type=chunk) [Consolidated Statement of Financial Position Analysis](index=24&type=section&id=Consolidated%20Statement%20of%20Financial%20Position%20Analysis) This analysis reviews changes in total equity, assets, customer loans, and impairment provisions, assessing the group's financial health - Total equity increased by **3.0% to HKD 4,379.9 million**, and total assets grew to **HKD 8,087.5 million**[54](index=54&type=chunk) - Total customer loans and receivables increased by **2.7% to HKD 7,524.0 million**, with credit card receivables increasing and personal loan receivables decreasing[55](index=55&type=chunk)[56](index=56&type=chunk) - Impairment provisions as a percentage of total customer loans and receivables decreased from **3.6% to 3.4%**[56](index=56&type=chunk) - Bank borrowings and borrowings from the direct holding company remained stable, with total borrowings at **HKD 3,142.3 million** and an average bank borrowing tenor of **0.6 years**[57](index=57&type=chunk)[58](index=58&type=chunk) [Segment Information Analysis](index=26&type=section&id=Segment%20Information%20Analysis) This analysis evaluates the performance of different business and geographical segments, identifying key growth areas and challenges - Credit card business revenue grew by **6.7% to HKD 714.0 million**, with segment results increasing by **24.6% to HKD 264.6 million**[60](index=60&type=chunk) - Personal loan revenue decreased by **5.3% to HKD 166.7 million**, but segment results turned profitable at **HKD 11.5 million** from a loss of HKD 14.5 million in the prior year[61](index=61&type=chunk) - Insurance intermediary business revenue and results increased to **HKD 16.5 million and HKD 7.3 million**, respectively[61](index=61&type=chunk) - Hong Kong business revenue grew by **3.6% to HKD 872.1 million**, with results increasing by **45.7% to HKD 293.3 million**[62](index=62&type=chunk) - Mainland China business revenue increased to **HKD 25.1 million**, but recorded a loss of **HKD 10.0 million** due to deteriorating customer repayment performance[63](index=63&type=chunk) [Outlook](index=27&type=section&id=Outlook) This section outlines the group's future strategies, focusing on market opportunities, operational efficiency, and business development initiatives - The Hong Kong economy is expected to benefit from global interest rate cuts (Fed anticipated to cut by 25 basis points in September) and a recovery in tourism[64](index=64&type=chunk) - The group will focus on maintaining sales and receivables growth, particularly in local and online transactions, and optimizing credit assessment and monitoring processes[64](index=64&type=chunk) - Plans include accelerating the integration of **AI tools** into back-office operations, such as automated data processing and credit risk analysis, to reduce costs and enhance accuracy[65](index=65&type=chunk) - The "One AEON" project will establish an integrated loyalty points platform to enhance customer convenience and loyalty[67](index=67&type=chunk) - Mainland China operations will focus on leveraging the Greater Bay Area's potential, strengthening credit assessment and corporate governance for sustainable growth[67](index=67&type=chunk) [Capital and Equity Management](index=29&type=section&id=Capital%20and%20Equity%20Management) This section describes the group's approach to managing capital, ensuring financial stability, and funding growth while mitigating risks - The group manages capital to ensure continuous operation, build confidence, secure adequate funding, and generate reasonable returns for receivables growth[69](index=69&type=chunk)[72](index=72&type=chunk) Net Debt to Equity Ratio (As at August 31, 2025) | Indicator | August 31, 2025 (HKD '000) | February 28, 2025 (HKD '000) | | :--- | :--- | :--- | | Debt | 3,249,484 | 3,271,202 | | Cash and cash equivalents | (260,969) | (244,090) | | Net debt | 2,988,515 | 3,027,112 | | Equity | 4,379,925 | 4,251,161 | | Net debt to equity ratio | 0.7 | 0.7 | - The group possesses **ample working capital** to meet current needs, with its primary business transacted in HKD, posing no core asset exchange rate fluctuation risk, and utilizes derivative financial instruments to hedge interest rate and exchange rate risks[73](index=73&type=chunk) [Human Resources](index=30&type=section&id=Human%20Resources) This section provides an overview of the group's workforce and its approach to employee recognition and rewards Number of Employees (As at August 31, 2025) | Region | August 31, 2025 (Number) | February 28, 2025 (Number) | | :--- | :--- | :--- | | Hong Kong | 377 | 380 | | Mainland China | 221 | 216 | | Total | 598 | 596 | - The group will continue to recognize and reward employees on a basis similar to that disclosed in the **2024/25 Annual Report**[74](index=74&type=chunk) [Other Information](index=19&type=section&id=Other%20Information) This section includes various disclosures such as share transfer arrangements, corporate governance, and review of financial data [Closure of Register of Members](index=19&type=section&id=Closure%20of%20Register%20of%20Members) This note specifies the dates for the temporary closure of the register of members for interim dividend entitlement - The company's register of members will be closed from **Friday, October 17, 2025, to Monday, October 20, 2025**[35](index=35&type=chunk) - To qualify for the interim dividend, all share transfer documents must be lodged with the share registrar by **4:30 p.m. on Thursday, October 16, 2025**[35](index=35&type=chunk) [Compliance with Corporate Governance Code](index=19&type=section&id=Compliance%20with%20Corporate%20Governance%20Code) This note confirms the company's adherence to the Corporate Governance Code, with a specific disclosure regarding director rotation - The company has complied with the Corporate Governance Code throughout the six months ended August 31, 2025, except for Code Provision B.2.2 (rotation of directors)[36](index=36&type=chunk) - All directors, including executive, non-executive, and independent non-executive directors, are subject to retirement by rotation at each annual general meeting in accordance with the company's articles of association[36](index=36&type=chunk) [Compliance with Model Code for Securities Transactions by Directors](index=19&type=section&id=Compliance%20with%20Model%20Code%20for%20Securities%20Transactions%20by%20Directors) This note confirms the directors' compliance with the standard code for securities transactions during the review period - The company has adopted the **Model Code for Securities Transactions by Directors of Listed Issuers** as its own code for directors' securities transactions[37](index=37&type=chunk) - All directors confirmed compliance with the required standards set out in the Model Code and the company's own code for securities transactions during the review period[37](index=37&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=30&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20Listed%20Securities) This note confirms that no listed securities of the company were purchased, sold, or redeemed during the reporting period - During the period, neither the company nor its subsidiaries purchased, sold, or redeemed any of the company's listed securities[75](index=75&type=chunk) [Review of Unaudited Financial Information](index=30&type=section&id=Review%20of%20Unaudited%20Financial%20Information) This note confirms the audit committee's review of the unaudited interim results and the auditor's unmodified review report - The Audit Committee has reviewed the unaudited consolidated interim results for the six months ended August 31, 2025[76](index=76&type=chunk) - The condensed consolidated financial statements have been reviewed by Deloitte Touche Tohmatsu in accordance with Hong Kong Standard on Review Engagements 2410, resulting in an unmodified review report[76](index=76&type=chunk) [Publication of Interim Report on HKEX Website](index=31&type=section&id=Publication%20of%20Interim%20Report%20on%20HKEX%20Website) This note announces the upcoming publication of the interim report on the HKEX and company websites - The group's 2025/26 interim report will be published on the websites of the Hong Kong Stock Exchange and the company in due course[77](index=77&type=chunk) [Board of Directors](index=31&type=section&id=Board%20of%20Directors) This note lists the composition of the Board of Directors, including executive, non-executive, and independent non-executive members - The Board of Directors includes Executive Directors Mr. Wei Aiguo (Managing Director), Mr. Lai Yuk Kwong (Deputy Managing Director), and Ms. Wen Yufang[78](index=78&type=chunk) - Non-executive Directors are Mr. Mishima Shigeki (Chairman) and Ms. Jin Huashu[78](index=78&type=chunk) - Independent Non-executive Directors are Mr. Li Ching Ming, Ms. Sheng Muxian, Ms. Tochi Sunako, and Mr. Choi Bing Chung[78](index=78&type=chunk)

Group 1 - The board meeting of AEON CREDIT (00900.HK) is scheduled for September 30, 2025 [1] - The meeting will include the approval of the company's interim results for the six months ending August 31, 2025 [1] - The board will also consider the distribution of an interim dividend [1]

承董事會命 公司秘書 洪敦信 香港，二零二五年九月十一日 於本公告日期，本公司董事會成員包括執行董事魏愛國先生（董事總經理）、黎玉光 先生（董事副總經理）及温育芳女士；非執行董事三島茂樹先生（主席）及金華淑女 士；及獨立非執行董事李澄明先生、盛慕嫻女士、土地順子女士及蔡炳中先生。 董事會召開日期 AEON 信貸財務（亞洲）有限公司（「本公司」）之董事會（「董事會」）謹此宣布， 董事會會議將訂於二零二五年九月三十日星期二召開，會上董事會將（其中包括）批 准發布本公司及其附屬公司截至二零二五年八月三十一日止六個月之中期業績及考慮 派發中期股息。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於香港註冊成立之有限公司） （股份代號︰900） ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | AEON信貸財務(亞洲)有限公司 | | | 呈交日期: | 2025年9月1日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | | 自新《公司條例》(香港法例第622章) 於2014年3月3日實施後，AEON信貸財務(亞洲)有限公司 (於香港註册成立的公司) 不再有法定股本及股份面值。 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00900 | 說明 | AEON CREDIT | | | | | | | | 已發行股份 ...

Core Viewpoint - China Three Gorges Group plans to increase its stake in Yangtze Power through the secondary market within the next 12 months, with an investment amount between 4 billion and 8 billion yuan, depending on market conditions [1][2] Group 1: Shareholding and Investment Plans - China Three Gorges Group and its concerted actions hold a total of 12.865 billion shares in Yangtze Power, accounting for 52.58% of the total share capital, with China Three Gorges Group alone holding 10.474 billion shares, or 42.81% [2] - The investment will be funded by China Three Gorges Group's own and self-raised funds, and there is no fixed price range for the share purchase [1] Group 2: Company Overview and Operations - Yangtze Power, established in September 2002 and listed on the Shanghai Stock Exchange in November 2003, primarily engages in hydropower generation, investment and financing, pumped storage, smart comprehensive energy, renewable energy, and power distribution [2] - The company operates six hydropower stations, forming the world's largest clean energy corridor, which supports flood control, shipping, water replenishment, and ecological safety in the Yangtze River basin [2] Group 3: Financial Performance - For the first half of 2025, Yangtze Power reported total revenue of 36.587 billion yuan, a year-on-year increase of 5.02%, and a net profit attributable to shareholders of 12.984 billion yuan, up 14.22% year-on-year, primarily due to increased electricity generation from its hydropower stations [2] - As of August 22, the company's stock price was 27.87 yuan per share, with a total market capitalization of 681.9 billion yuan [4] Group 4: Dividend Policy - The board of directors has established a five-year dividend return plan for 2026-2030, proposing to distribute cash dividends of no less than 70% of the net profit attributable to the parent company's shareholders each year, contingent on profitability [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | AEON信貸財務(亞洲)有限公司 | | | | 呈交日期: | 2025年8月1日 | | | | I. 法定/註冊股本變動 | 不適用 | | | | 備註： | | | | | | 自新《公司條例》(香港法例第622章) 於2014年3月3日實施後，AEON信貸財務(亞洲)有限公司 (於香港註册成立的公司) 不再有法定股本及股份面值。 | | | 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00900 | 說明 | AEON CREDIT | ...

3. 在適當時，董事總經理、人力資源主管、外聘顧問及其他人士或被邀列席整個或 部分會議。 4. 薪酬委員會秘書由公司秘書擔任。 5. 薪酬委員會每年應至少舉行一次會議。 6. 除非獲全體委員會成員同意，否則召開會議應發出最少十四天通知。 7. 會議的法定人數應為兩名。 8. 會議以親身出席、電話或視像會議方式召開。成員可透過電話或視像會議等電子 途徑參與會議。 9. 任何薪酬委員會會議的決議須經由出席會議成員以大多數票通過。當投票票數相 等時，主席有第二次投票或投決定票權。 10. 經全體薪酬委員會成員簽署的書面決議具有法律效力及其等同經薪酬委員會正式 召開及通過之決議。 AEON 信貸財務(亞洲)有限公司 薪酬委員會 職權範圍 成員 出席會議 會議次數及程序 1 1. 本公司董事會從本公司非執行董事之中委任不少於三名薪酬委員會成員。薪酬委 員會大部分成員應為獨立非執行董事。 2. 薪酬委員會主席應由董事會委任並應為獨立非執行董事。 14. 薪酬委員會之職務為： (a) 就全體董事及高級管理人員的薪酬政策與架構，及就設立正規而具透明度 的程序制訂薪酬政策，向本公司董事會提出建議； (b) 因應董事會所訂企業方 ...

AEON 信貸財務(亞洲)有限公司 提名委員會 職權範圍 成員 出席會議 會議次數及程序 1 10. 經全體提名委員會成員簽署的書面決議具有法律效力及其等同經提名委員會正 式召開及通過之決議。 股東周年大會 11. 提名委員會主席（或於其缺席的情況下，則提名委員會其他成員或其適當委任 的代表）應出席本公司股東周年大會，就有關提名委員會的工作及責任回答股 東之提問。 職權 職務 1. 本公司董事會從本公司非執行董事之中委任不少於三名提名委員會成員。提名 委員會大部分成員應為獨立非執行董事，且至少有一名不同性別的成員。 2. 提名委員會主席應由董事會委任並應為董事會主席或一名獨立非執行董事。為 免受質疑，當會議涉及董事會主席繼任事宜時，董事會主席將不能出任該次提 名委員會會議主席。 3. 只有提名委員會成員有權出席提名委員會會議。然而，在適當時，任何董事、 行政人員或其他人士或被邀列席整個或部分會議。 4. 提名委員會秘書由公司秘書或其代名人擔任。 5. 提名委員會每年應至少舉行一次會議。 6. 除非獲全體委員會成員同意，否則召開會議應發出最少十四天通知。 7. 會議的法定人數應為兩名。 8. 會議以親身出席、電 ...

Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]