Revenue Performance - In the first quarter of the fiscal year 2024/2025, revenue from personal loan business increased by 21.9% to HKD 86,100,000 compared to HKD 70,700,000 in the same period last year[1]. - Revenue from Hong Kong operations rose by 12.0% to HKD 418,300,000, up from HKD 373,300,000 in the first quarter of the fiscal year 2023/2024, while segment profit decreased by 20.8% to HKD 98,000,000[2]. - Revenue from the mainland China business increased to HKD 8,300,000, a rise of 24.2% from HKD 6,600,000 in the same quarter last year, with segment profit slightly increasing to HKD 1,400,000[3]. - Revenue for the period from March 1, 2024, to May 31, 2024, was HKD 426,547, an increase from HKD 379,953 in the same period last year, representing a growth of approximately 12.3%[19]. - For the three months ending May 31, 2024, the company reported revenue of HKD 426,547,000, an increase of 12.2% compared to HKD 379,953,000 for the same period in 2023[29]. - The group reported a total income of HKD 379,953,000 across its segments, with credit card income at HKD 303,693,000, personal loans at HKD 70,661,000, and insurance at HKD 5,599,000[70]. - Revenue for the first quarter of the fiscal year 2024/25 was HKD 426,500,000, an increase of 12.3% or HKD 46,600,000 compared to HKD 380,000,000 in the first quarter of the fiscal year 2023/24[78]. Profitability and Losses - The company recorded a loss of HKD 2,200,000 in the first quarter of fiscal year 2024/2025, contrasting with a profit of HKD 14,100,000 in the same quarter of the previous year[1]. - The operating profit before tax for the same period was HKD 99,351, compared to HKD 117,458 in the previous year, indicating a decrease of about 15.4%[19]. - The company reported a profit for the period of HKD 83,255,000, down from HKD 96,967,000, indicating a decrease of 14.2%[29]. - The group recorded a profit before tax of HKD 99,400,000, a decrease of 15.4% or HKD 18,100,000 compared to the same period last year[75]. - The group's net profit after tax decreased by 14.1% or HKD 13,700,000 to HKD 83,300,000 from HKD 97,000,000 in the same period last year[75]. Expenses and Costs - Employee costs, including director remuneration, increased to HKD 60,795 from HKD 53,042, reflecting a rise of approximately 14.0%[13]. - The total operating expenses increased by HKD 12,500,000 from HKD 176,800,000 to HKD 189,300,000, but the expense-to-revenue ratio improved from 50.0% to 47.3% due to increased operating income[97]. - Interest expenses rose by 54.8% or HKD 11,200,000 to HKD 31,600,000 from HKD 20,400,000 in the same period last year[79]. - Marketing and promotional expenses increased by HKD 1,600,000 to HKD 26,900,000 during the reporting period, while depreciation and amortization rose by HKD 1,300,000 compared to the same period last year[96]. Assets and Liabilities - Total assets as of May 31, 2024, were HKD 2,029,347,000, an increase from HKD 2,007,847,000 as of February 29, 2024[37]. - The company’s total liabilities were HKD 1,839,682,000, compared to HKD 1,677,543,000, representing an increase of 9.7%[37]. - Total equity as of May 31, 2024, was HKD 4,141.864 million, up from HKD 4,067.993 million[50]. - The total liabilities, including non-current bank loans and lease liabilities, amounted to HKD 1,721.033 million, a decrease from HKD 1,815.696 million[50]. - Total assets increased to HKD 7,702,600,000 as of May 31, 2024, compared to HKD 7,561,200,000 on February 29, 2024[83]. Customer Loans and Receivables - Total receivables for credit card accounts as of May 31, 2024, were HKD 5,237,155, compared to HKD 5,188,549 as of February 29, 2024[5]. - Total receivables for personal loans increased to HKD 1,600,695 from HKD 1,573,989 over the same period[5]. - The total amount of customer loans and receivables reached HKD 7,037,828, up from HKD 6,960,859[7]. - Customer loans and receivables rose by 1.1% or HKD 77,000,000 to HKD 7,037,800,000 as of May 31, 2024, from HKD 6,960,900,000 on February 29, 2024[84]. - Credit impairment for customer loans and receivables increased to HKD 254,700,000, representing 3.6% of total customer loans and receivables as of May 31, 2024, up from 3.5% on February 29, 2024[84]. Strategic Initiatives - The company is focusing on improving the financial performance of its Shenzhen micro-lending subsidiary and diversifying its loan products[3]. - The company plans to continue expanding its market presence and enhancing its product offerings in response to the increasing receivables[2]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[29]. - The group plans to continue investing resources to enhance consumer finance services and expand its customer base with innovative and customized products[88]. - The company plans to enhance its mobile application and traditional marketing channels to promote credit cards and personal loans, with the introduction of a virtual card feature in the second quarter[100]. - The company has completed the upgrade of its credit application processing platform and is enhancing its call center platform for real-time customer interaction[101]. Foreign Exchange and Impairment - The company reported a foreign exchange loss of HKD 9,130 related to bank loans, compared to a loss of HKD 6,225 in the previous year, indicating a worsening of approximately 46.0%[4]. - The net foreign exchange loss from other instruments was HKD 13, a decrease from a gain of HKD 116 in the previous year, indicating a significant decline in performance[4]. - Impairment losses and provisions increased to HKD 117,600,000, up HKD 49,600,000 from HKD 68,000,000 in the same period last year[82]. - The impairment provision increased to HKD 254,749 as of May 31, 2024, compared to HKD 247,091 as of February 29, 2024[8].
AEON CREDIT(00900) - 2025 Q1 - 季度业绩