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]
AEON CREDIT(00900) - 2021 - 年度财报