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]
AEON CREDIT(00900) - 2019 - 年度财报