Financial Performance - For the fiscal year ending February 28, 2021, total revenue was HKD 1,089,858,000, a decrease of 13.7% compared to the previous year[7] - The company reported a net profit of HKD 301,575,000 for the fiscal year, reflecting a decline from HKD 370,083,000 in the previous year[7] - Earnings per share decreased to HKD 72.02 from HKD 88.37 in the prior year[7] - The group's revenue for the fiscal year was HKD 1,089,900,000, a decrease of 16.0% or HKD 207,800,000 compared to the previous fiscal year[15] - The pre-tax profit for the fiscal year was HKD 357,900,000, down HKD 87,000,000 from the previous fiscal year, resulting in a post-tax profit decrease of 18.5% to HKD 301,600,000[14] - The net interest income for the fiscal year was HKD 904,600,000, a decrease of 13.6% or HKD 142,800,000 compared to the previous fiscal year[16] - The company recorded a decrease in credit card fees and commissions by 30.7% to HKD 52,300,000 due to a decline in credit card sales[17] - The company achieved ISO 9001 certification for quality management, ISO 14001 for environmental management, and ISO 27001 for information security management, demonstrating its commitment to continuous improvement in service quality and operational efficiency[47] Assets and Liabilities - The total assets as of February 28, 2021, were HKD 5,083,366,000, down from HKD 6,180,684,000 in the previous year[9] - The total liabilities decreased to HKD 1,661,336,000 from HKD 2,416,176,000 in the previous year[9] - The total equity as of February 28, 2021, was HKD 3,422,000,000, an increase from HKD 3,313,500,000 as of February 29, 2020[21] - The customer loans and receivables decreased by HKD 628,200,000 compared to the previous year, indicating a challenging lending environment[16] - The impairment losses and provisions decreased by 18.5% or HKD 47,900,000 to HKD 210,800,000, reflecting improved asset quality[20] Business Strategy and Operations - The company experienced a 13.7% decline in credit card and personal loan sales due to the pandemic's impact on consumer behavior[11] - The company prioritized investment in digitalization to enhance capabilities across its business sectors[11] - The company is developing new credit card and loan systems to prepare for further technological upgrades in the payment industry[11] - The company closed three branches during the year, including its flagship branch in Mong Kok, and shifted its strategy to focus on customer-dense department stores[12] - The company plans to enhance digital transformation and improve data analytics for better marketing and credit management[32] - The company aims to explore new payment solutions to expand its business scope and market coverage[32] Dividends and Shareholder Returns - The company distributed an interim dividend of HKD 0.22 per share and a final dividend of HKD 0.18 per share, pending shareholder approval[6] - The company implemented a stable dividend policy with a proposed final dividend of HKD 0.18 per share, resulting in a total annual dividend of HKD 0.40 per share and a payout ratio of 55.5%[13] - The interim dividend paid to shareholders was HKD 0.22 per share, totaling HKD 92,128,000, consistent with the previous year[138] - The proposed final dividend is HKD 0.18 per share, totaling HKD 75,378,000, down from HKD 0.22 per share in the previous year[138] Employee and Community Engagement - As of February 28, 2021, the total number of employees was 379, with 334 in Hong Kong and 45 in China, down from 391 the previous year[36] - The employee turnover rate was 15% as of February 28, 2021, with gender distribution being 7% male and 8% female[65] - The company provided a total of HKD 472,000 in donations to support university students through the AEON scholarship program during the reporting year[61] - Credit card holders raised donations worth HKD 27,100 through the points donation program to support the conservation work of WWF-Hong Kong during the reporting year[60] - The company supports community development and quality of life improvement initiatives, contributing to local projects and activities[58] Environmental and Social Responsibility - The company reported a total greenhouse gas emission of 239.87 tons of CO2 equivalent for the fiscal year ending February 28, 2021[76] - The company has implemented a paperless operation strategy, encouraging electronic communication and online applications for credit card services[77] - The company has received ISO 14001 environmental management system certification since 2009, demonstrating its commitment to environmental compliance[74] - The company has not reported any significant impact on the environment or natural resources during the fiscal year ending February 28, 2021[74] - The company has established a health and safety system to ensure employee well-being, with no reported claims related to occupational health and safety standards violations[73] Governance and Compliance - The company is committed to maintaining high levels of corporate governance, having complied with the corporate governance code for the year ending February 28, 2021, except for specific provisions regarding the appointment and rotation of non-executive directors[89] - The board consists of nine members, including four executive directors, one non-executive director, and four independent non-executive directors, complying with the requirement of at least three independent non-executive directors[92] - The company has established a robust risk management and internal control system to ensure effective governance and compliance with applicable laws and regulations[114] - The company has implemented a whistleblowing policy to maintain high standards of integrity and accountability, ensuring confidentiality for reporters[118] - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of February 28, 2021[162] Risk Management - The risk management framework includes credit, operational, market, liquidity, compliance, legal, and regulatory risks, with continuous monitoring by the risk management committee[115] - The internal audit department conducts regular audits of financial, operational, and compliance controls, with significant findings reported monthly to the board[120] - No major internal control deficiencies were identified during the year, and appropriate measures were taken to address areas for improvement[117] Future Outlook - The company anticipates a rebound in economic activity in Hong Kong in the second half of the fiscal year 2021/22 if the pandemic is controlled[32] - The company is prepared to face future challenges and seize new opportunities as market conditions normalize, supported by strong liquidity and a solid balance sheet[34]

Financial Performance - Revenue for the six months ended August 31, 2020, was HKD 574,460,000, a decrease of 12.3% compared to HKD 654,867,000 for the same period in 2019[5]. - Net interest income decreased to HKD 474,553,000 from HKD 529,493,000, reflecting a decline of 10.4%[5]. - Profit for the period was HKD 152,401,000, down 20% from HKD 190,394,000 in the previous year[5]. - Basic earnings per share decreased to HKD 36.39 from HKD 45.47, representing a decline of 19.9%[5]. - Total comprehensive income for the period was HKD 171,634,000, compared to HKD 187,215,000 in the prior year, a decrease of 8.3%[6]. - Total revenue for the six months ended August 31, 2020, was HKD 574,460,000, a decrease of 12.3% compared to HKD 654,867,000 for the same period in 2019[16]. - Interest income decreased to HKD 498,644,000, down 12.1% from HKD 567,281,000 year-over-year[16]. - The pre-tax profit for the period from March 1, 2020, to August 31, 2020, was HKD 181,640,000, compared to HKD 230,371,000 in 2019, reflecting a decline of approximately 21.1%[21]. - The company reported a total comprehensive income of HKD 171,634,000 for the period, compared to HKD 190,394,000 in the prior period, reflecting a decrease of 9.8%[9]. - The net profit after tax decreased by 20.0%, from HKD 190.4 million in the previous year to HKD 152.4 million in the current period[79]. Assets and Liabilities - Non-current assets decreased to HKD 959,925,000 from HKD 1,051,218,000, a decline of 8.7%[7]. - Current assets decreased to HKD 4,284,023,000 from HKD 4,678,500,000, reflecting a decrease of 8.4%[8]. - The company’s total assets increased to HKD 3,393,048,000 as of August 31, 2020, up from HKD 3,285,734,000 at the end of the previous period[9]. - The total amount of trade payables as of August 31, 2020, was 64,263 thousand HKD, slightly up from 63,005 thousand HKD as of February 29, 2020[51]. - The total amount of prepayments, deposits, and other receivables as of August 31, 2020, was 85,262 thousand HKD, a decrease from 96,683 thousand HKD as of February 29, 2020[45]. - The total overdue customer loans and receivables exceeded one month amounted to 202,112 thousand HKD, representing 4.8% of total customer loans and receivables[44]. - The total amount of restricted deposits was zero as of August 31, 2020, due to the full repayment of related asset-backed loans during the period[46]. - The bank loans as of August 31, 2020, amounted to 1,410,435 thousand HKD, with 365,000 thousand HKD due within one year[54]. Cash Flow and Dividends - Net cash generated from operating activities was HKD 734,855,000, an increase of 85.0% from HKD 396,893,000 in the previous year[10]. - The company paid dividends of HKD 92,128,000 during the period, consistent with the previous year[10]. - The company declared an interim dividend of HKD 0.22 per share, totaling HKD 92,128,000, consistent with the previous year's interim dividend[32]. - The net cash used in financing activities was HKD 688,207,000, compared to a net cash generated of HKD 38,321,000 in the prior year[10]. Operational Efficiency and Strategy - The company plans to focus on enhancing operational efficiency and exploring new market opportunities in the upcoming periods[5]. - The company plans to continue focusing on enhancing its operational efficiency and exploring new market opportunities[12]. - The company focused on promoting AEON credit cards and enhancing online services to adapt to the pandemic's impact on consumer behavior[77]. - The company implemented a bad debt warning mechanism to reduce overdue loans and receivables[77]. - Significant resources will be allocated to digital projects to improve operational efficiency, including new credit card and loan systems, and optimization of mobile applications and websites[90]. - The company anticipates a challenging operating environment due to ongoing pandemic effects and rising unemployment in Hong Kong, impacting operations in the second half of the year[90]. Risk Management - The company has established policies to manage market, credit, liquidity, equity, and operational risks, with regular reviews by management and internal auditors[96]. - The group has implemented cross-currency swaps to hedge foreign currency debt, effectively transferring foreign currency liabilities to functional currency[99]. - The group has adopted interest rate swaps to convert part of its floating-rate debt to fixed-rate, aligning swap terms with hedged loans[99]. - The group has a liquidity risk management framework in place to manage short, medium, and long-term financing needs[101]. - The group has established policies and systems to monitor and control credit risk, ensuring adequate provisions for recoverable loans and receivables[100]. Shareholder Information - The total issued and paid-up share capital as of August 31, 2020, was HKD 269,477,000, with 418,766,000 shares outstanding[63]. - The group’s major shareholders include AEON Japan with a 67.13% stake and AFS with a 52.86% stake in the company[107]. - AFS holds 100% equity interest in AFS (Hong Kong), representing 221,364,000 shares[108]. - The company has not purchased, sold, or redeemed any of its listed shares during the reporting period[112]. Future Outlook - AEON anticipates a credit loss of approximately HKD 50 million for the upcoming quarter, reflecting a cautious outlook[117]. - The company is investing in new product development, with a budget allocation of HKD 100 million for innovative financial services[118]. - AEON plans to expand its market presence in mainland China, targeting a 20% increase in market share by the end of the fiscal year[118]. - The company’s future guidance indicates expected revenue growth of 12% for the next quarter, driven by increased consumer demand[117].

Financial Performance - Total revenue for the fiscal year ended February 29, 2020, was HKD 1,297.686 million, a decrease from HKD 1,322.678 million in the previous year, representing a decline of 1.9%[9] - The pre-tax profit for the same period was HKD 444.930 million, down from HKD 524.122 million, reflecting a decrease of 15.1%[9] - The annual profit for the year was HKD 370.083 million, compared to HKD 437.254 million in the previous year, indicating a decline of 15.3%[9] - Earnings per share for the fiscal year was HKD 88.37, down from HKD 104.41, a decrease of 15.4%[9] - The group's revenue for the fiscal year was HKD 1,297,700,000, a decrease of 1.9% or HKD 25,000,000 compared to the previous fiscal year[18] - The pre-tax profit for the fiscal year was HKD 444,900,000, down HKD 79,200,000 from the previous fiscal year[18] - Net interest income for the fiscal year was HKD 1,047,400,000, a decrease of 0.7% or HKD 7,400,000 compared to the previous fiscal year[19] - Operating income for the fiscal year was HKD 1,225,200,000, a decrease of 1.6% or HKD 19,600,000 compared to the previous fiscal year[20] - Total comprehensive income for the year was HKD 307,151, a decrease of 34.3% compared to HKD 467,403 in 2019[151] Asset and Liability Management - Total assets as of February 29, 2020, were HKD 5,729.718 million, a decrease from HKD 6,180.684 million in the previous year[11] - Total liabilities decreased to HKD 2,416.176 million from HKD 2,990.037 million, reflecting a reduction of 19.2%[11] - The total equity as of February 29, 2020, was HKD 3,313,500,000, compared to HKD 3,190,600,000 as of February 28, 2019[24] - The net debt to equity ratio improved to 0.4 as of February 29, 2020, from 0.7 as of February 28, 2019[18] - The company's total non-current liabilities amounted to HKD 1,173,689 thousand, a decrease from HKD 1,608,449 thousand in the previous year, showing a reduction of 27%[153] Credit and Risk Management - Credit card and personal loan sales decreased by 5.3% during the fiscal year due to adverse economic conditions[13] - The group recorded a 27.0% increase in impairment losses and provisions, rising to HKD 258,700,000 from HKD 203,700,000 in the previous fiscal year[23] - Private loan receivables decreased by 14.3% from HKD 1,197,200,000 to HKD 1,025,900,000 due to cautious credit assessment and weakened market demand[26] - Credit card receivables fell by 6.9% or HKD 263,200,000 from HKD 3,842,300,000 to HKD 3,579,100,000, impacted by ATM service suspension and social events[26] - Impairment provisions increased by 19,000,000 to HKD 262,500,000, reflecting deteriorating asset quality[26] - The company has implemented a bad debt warning program to manage credit risk more effectively[13] - The company adopted a prudent approach to increase credit while controlling asset quality amid challenging market conditions[13] Operational Strategy and Investments - The company plans to continue investing in digital projects to enhance productivity and expand its customer base through more attractive promotional activities[13] - The company plans to focus on controlling asset quality and will temporarily suspend loan promotion activities until market conditions improve[33] - The company aims to improve customer experience by providing multiple payment channels, including convenience stores and online banking[39] - The company plans to focus on enhancing operational efficiency and exploring new market opportunities in the upcoming fiscal year[149] Employee and Training Initiatives - The number of employees decreased from 455 to 391, with 338 in Hong Kong and 53 in China as of February 29, 2020[37] - The company has implemented a comprehensive training program to enhance employee understanding of company values and compliance with legal regulations, including anti-money laundering measures[47] - The training programs saw a total of 66 courses conducted in 2019/20, down from 153 in 2018/19, with total training hours increasing from 985 to 4,938[59] - The number of employees trained increased from 1,501 in 2018/19 to 1,887 in 2019/20, with male participants rising from 51% to 56%[59] - The company maintained a zero fatality rate due to work-related incidents in both 2018/19 and 2019/20[62] Corporate Governance and Compliance - The board includes experienced members with over 30 years in marketing and finance, enhancing strategic decision-making capabilities[74][75][76][78][79] - The company has adopted a board diversity policy, recognizing the benefits of diversity in skills, experience, and perspectives, and aims to achieve a balanced board composition[85] - The company emphasizes high levels of corporate governance to balance the interests of shareholders, customers, employees, and other stakeholders[81] - The independent non-executive directors do not have any significant relationships with the company, ensuring their independence[87] - The company has established a risk management framework that includes credit, operational, market, liquidity, compliance, legal, and regulatory risks[103] Environmental and Social Responsibility - The total electricity consumption decreased by 131,613 kWh in the fiscal year 2019/20, representing a reduction of approximately 22.94% compared to the previous year[69] - The net greenhouse gas emissions from major sources decreased from 338.92 tons CO2 equivalent in 2018/19 to 321.549 tons CO2 equivalent in 2019/20[70] - The company has achieved a 34.27% adoption rate of electronic statements among customers, promoting a paperless office initiative[71] - The company has been awarded the "Caring Company" logo for thirteen consecutive years, reflecting its commitment to community support and environmental protection[67] - The company donated a total of HKD 630,000 to support educational projects through the AEON Scholarship, benefiting 85 students from various universities[65] Shareholder Engagement and Market Position - The company engages primarily in consumer financing, including credit card issuance, personal loan financing, payment processing services, and insurance agency and consultancy services[121] - The company has established various communication channels with shareholders, including annual general meetings and regular updates through reports and announcements[114] - The market capitalization of the company as of February 29, 2020, was HKD 2,508,000,000, with an issued share capital of 418,766,000 shares and a closing share price of HKD 5.99[116] - Cumulative revenue from the top five customers accounted for less than 30% of the total revenue for the year[124]

Financial Performance - The company reported total revenue of HKD 654,867,000 for the six months ended August 31, 2019, a slight increase of 0.2% compared to HKD 653,394,000 for the same period in 2018[7]. - Net interest income was HKD 529,493,000, up from HKD 524,807,000, reflecting a stable performance in interest earnings[7]. - The company recorded a profit for the period of HKD 190,394,000, down 17.7% from HKD 231,231,000 in the previous year[7]. - Basic earnings per share decreased to HKD 45.47 from HKD 55.22, indicating a decline in profitability[7]. - Total comprehensive income for the period was HKD 187,215,000, compared to HKD 235,045,000 in the prior year, showing a decrease of 20.3%[8]. - Cash generated from operating activities was HKD 396,893 thousand, up from HKD 388,855 thousand, indicating an increase of approximately 2.66%[12]. - The company reported a net cash increase of HKD 402,659 thousand for the period, compared to a decrease of HKD 95,941 thousand in the previous period[12]. - The total comprehensive income for the period was HKD 235,045 thousand, compared to HKD 142,917 thousand in the previous period, reflecting an increase of about 64.38%[11]. - The company declared an interim dividend of HKD 22.0 cents per share, totaling HKD 92,128,000[47]. - The company reported a net interest expense of HKD 37,788,000, down from HKD 42,866,000, a decrease of approximately 11.5%[38]. - The company recognized a loss of HKD 7,067,000 from lease modifications during the reporting period[43]. Assets and Liabilities - The company's total assets amounted to HKD 4,524,260,000, down from HKD 4,799,096,000 as of February 28, 2019[9]. - Total equity increased to HKD 3,285,734 thousand as of August 31, 2019, compared to HKD 3,190,647 thousand as of February 28, 2019, reflecting a growth of approximately 2.97%[10]. - Non-current liabilities decreased to HKD 1,238,526 thousand from HKD 1,608,449 thousand, representing a reduction of about 23.05%[10]. - The total amount of bank loans decreased to HKD 1,011,403 thousand from HKD 1,056,483 thousand, showing a decline of about 4.25%[10]. - The group's bank loans as of August 31, 2019, were HKD 1,216,403,000, down from HKD 1,381,483,000 as of February 28, 2019[69]. - The carrying value of bank loans as of August 31, 2019, was HKD 1,216,403,000, with a fair value of HKD 1,222,088,000[88]. Impairment and Credit Risk - The company reported a significant increase in impairment losses, with a provision of HKD 330,303,000 compared to HKD 93,462,000 in the previous period[7]. - The impairment provision for receivables as of August 31, 2019, was HKD 255,065,000, an increase from HKD 243,493,000 as of February 28, 2019, indicating a rise of approximately 4.76%[57]. - The total overdue customer loans and receivables exceeding one month amounted to HKD 231,307,000 as of August 31, 2019, representing 4.6% of total customer loans and receivables[59]. - The provision for credit losses increased due to changes in credit risk, impacting the expected credit losses by HKD 33,209,000 during the period[58]. - The group has sufficient provisions for expected credit losses in accordance with HKFRS 9, ensuring adequate control over credit risk[116]. Operational Developments - The company plans to focus on enhancing its digital services and expanding its market presence in the coming months[7]. - The management highlighted ongoing efforts in product development and technology upgrades to improve customer experience and operational efficiency[7]. - The group plans to launch online personal loans in the second half of FY2019/20, allowing customers to apply via a mobile app[104]. - Testing for a new credit card and loan system has begun, with plans to migrate selected merchants to the new system in Q4 of this year[104]. - The group opened two new flagship stores in prime locations to enhance brand image and customer experience[91]. Risk Management - The group faces significant foreign currency risk primarily from USD-denominated bank loans, but this risk is mitigated through currency swaps that convert foreign currency debt to functional currency[113]. - The group has implemented interest rate swaps to reduce cash flow interest rate risk by converting part of its floating-rate debt to fixed-rate[114]. - The group has adopted a risk management system to address operational risks, including internal and external events that may cause losses[120]. - The group has established a comprehensive liquidity risk management framework to effectively manage short-term, medium-term, and long-term financing needs[118]. Future Outlook - Future outlook indicates a projected growth rate of 8% for the next fiscal year, driven by market expansion strategies[134]. - AEON plans to invest HKD 200 million in new product development and technology enhancements over the next two years[134]. - The company is exploring potential acquisitions to enhance its market presence, targeting a 5% increase in market share[134]. - AEON's anticipated credit losses are expected to decrease by 20% due to improved risk management practices[134]. - The company aims to expand its footprint in the Asia-Pacific region, with plans to open 10 new stores by the end of the fiscal year[134]. Shareholder Information - As of August 31, 2019, the group had issued and fully paid 418,766,000 shares, amounting to HKD 269,477,000 in share capital[78]. - AEON Japan holds 67.13% of the company's issued share capital with 281,138,000 shares[124]. - AFS owns 52.86% of the issued share capital, totaling 221,364,000 shares[124]. - FMR LLC holds 8.00% of the issued share capital with 33,508,000 shares[124]. - The board has approved a dividend payout of HKD 0.50 per share, representing a 25% increase from the previous year[134].

Financial Performance - For the fiscal year ending February 28, 2019, AEON Credit Service reported total revenue of HKD 1,322.68 million, representing a growth from HKD 1,282.87 million in the previous year, an increase of approximately 3.1%[26] - The company achieved a profit before tax of HKD 524.12 million, up from HKD 447.27 million in the prior year, reflecting a growth of about 17.2%[26] - Net profit for the year was HKD 437.25 million, compared to HKD 371.15 million in the previous year, marking an increase of approximately 17.8%[26] - Earnings per share rose to 104.41 HKD cents, up from 88.63 HKD cents, indicating a growth of around 18%[26] - The total revenue for the fiscal year was HKD 1,322.7 million, reflecting a 3.1% increase from HKD 1,282.9 million in the previous fiscal year[33] - The group’s net profit for the fiscal year ending February 28, 2019, rose to HKD 437.3 million, a 17.8% increase from HKD 371.1 million in the previous year[33] - The net interest income increased by 2.3% to HKD 1,054.9 million, compared to HKD 1,031.3 million in the previous year[34] - The operating income for the fiscal year was HKD 1,244.7 million, up 3.4% from HKD 1,203.8 million in the previous year[35] - The group’s return on assets increased to 7.1% from 6.0% in the previous year, while the return on equity rose to 13.7% from 12.3%[33] - Total comprehensive income for the year was HKD 467,403,000, compared to HKD 430,476,000 in the previous year, indicating a growth of 8.6%[161] Assets and Equity - Total assets as of February 28, 2019, were HKD 6,180.68 million, a slight decrease from HKD 6,192.98 million in the previous year[28] - The total equity increased to HKD 3,190.65 million from HKD 3,005.04 million, representing a growth of approximately 6.2%[28] - Customer loans and receivables decreased to HKD 1,197,200,000, a decline of 13.0% from HKD 1,375,900,000[39] - Credit card receivables increased by 0.9% or HKD 34,100,000 to HKD 3,842,300,000, driven by an expanded customer base and stimulated credit card spending[39] - Total equity as of February 28, 2019, increased by 6.2% or HKD 185,600,000 to HKD 3,190,600,000 compared to the previous year[38] Dividends and Payouts - The company declared a final dividend of 44.00 HKD cents per share for the fiscal year, consistent with the previous year's dividend[26] - The group’s dividend payout ratio for the fiscal year was 42.1%, with a proposed final dividend of HKD 0.22 per share, up from HKD 0.42 per share in the previous year[32] Market and Operational Strategy - The company plans to continue investing in digital development to enhance productivity and expand its customer base[29] - AEON Credit Service is closely monitoring market conditions due to uncertainties from the US-China trade war and rising interest rates, adopting precautionary measures accordingly[29] - The group plans to invest approximately HKD 480 million over the next ten years to upgrade its credit card and loan systems, aiming to enhance operational efficiency and reduce costs[31] - The group has launched various marketing campaigns that have been well received among customers, aiming to enhance the brand image in Japan[45] - The group has established a data analytics team to improve data analysis capabilities, which is expected to enhance marketing and credit approval processes[44] Employee and Training Initiatives - The total number of employees was 455, a decrease from 575 the previous year, indicating a reduction in workforce[47] - The company has been actively providing training programs to enhance employee skills and promote professional development since 2008[70] - The company has established a robust employee training and development policy, with the latest revision in 2011 to meet evolving training needs[70] - In the fiscal year 2018/19, the total number of training courses increased to 985, with a total training duration of 1,501 hours, compared to 558 courses and 1,905 hours in the previous year[71] Environmental and Social Responsibility - The company has maintained a commitment to environmental standards and has obtained ISO 14001 certification for its environmental management system[82] - The company encourages and supports environmental activities, reforestation, and other related social programs[82] - Total electricity consumption decreased by 97,320 kWh in the fiscal year 2018/19, primarily due to effective energy-saving policies and employee cooperation, resulting in a 14.5% reduction in office and branch electricity usage[85] - The total greenhouse gas emissions from major sources were 344.606 tons of CO2 equivalent in the fiscal year 2018/19, down from 397.462 tons in the previous year, reflecting a significant reduction in emissions[86] - The company donated a total of HKD 1,190,000 to support educational projects during the year, providing scholarships to 70 students across various universities[80] Corporate Governance - The company has maintained high levels of corporate governance, adhering to the corporate governance code, except for specific provisions regarding the appointment and rotation of non-executive directors[94] - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors, complying with the requirement for at least three independent non-executive directors[95] - The company has established a risk management framework that includes credit, operational, market, liquidity, compliance, legal, and regulatory risks[115] - The company has established a whistleblowing policy to maintain high standards of integrity, allowing employees and stakeholders to report suspected misconduct confidentially[118] Financial Reporting and Compliance - The financial statements for the year ended February 28, 2019, were audited by Deloitte, reflecting a true and fair view of the group's financial position[149] - The independent auditor confirmed compliance with Hong Kong Financial Reporting Standards in the audit of the consolidated financial statements[150] - The company’s financial reporting process is overseen by management, ensuring compliance with HKFRS and the Companies Ordinance[155] - The company has not early adopted new Hong Kong Financial Reporting Standards that are not yet effective, including HKFRS 16 on leases[188] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance its service offerings[1] - The group maintains a strong position in the Hong Kong market and is optimistic about future performance, expecting satisfactory results in the fiscal year 2019/20[45]