Financial Performance - For the nine months ending November 30, 2025, the company reported total revenue of HKD 1,358,074,000, an increase of 4.5% compared to HKD 1,304,551,000 for the same period last year[3]. - Net interest income for the same period was HKD 1,053,714,000, up 4.5% from HKD 1,008,263,000 year-over-year[3]. - Operating income reached HKD 1,279,741,000, reflecting a growth of 5.1% compared to HKD 1,217,802,000 in the previous year[3]. - The company reported a net profit of HKD 352,703,000, representing a significant increase of 28.1% from HKD 275,307,000 in the prior year[3]. - Basic earnings per share increased to HKD 84.22, up from HKD 65.74, marking a growth of 28.0%[3]. - The total comprehensive income for the period was HKD 351,280,000, compared to HKD 267,664,000, showing a growth of 31.2%[4]. - The operating profit before tax for the period was HKD 424,473,000, compared to HKD 328,748,000 in the previous year, indicating a year-over-year increase of approximately 29.1%[16]. - The group reported a total operating income of HKD 1,358,074,000, with a total operating expense of HKD 931,173,000, resulting in a net operating profit of HKD 426,901,000[15]. - The group’s profit before tax was HKD 424.5 million, an increase of 29.1% compared to the same period last year[35]. - Net profit for the same period rose to HKD 352.7 million, reflecting a growth of 28.1% from HKD 275.3 million in the previous year[35]. Revenue Breakdown - Credit card service revenue amounted to HKD 1,082,314,000, while personal loan revenue was HKD 251,010,000, and insurance revenue was HKD 24,750,000, contributing to the overall revenue[15]. - Revenue from the Hong Kong region was HKD 1,316,705,000, while revenue from mainland China was HKD 41,369,000, highlighting the dominance of the Hong Kong market[17]. - The group’s insurance segment showed a revenue increase from HKD 22,049,000 to HKD 24,750,000, reflecting a growth of approximately 12.3% year-over-year[16]. - Credit card business accounted for 79.7% of total revenue, up from 78.1% in the same period last year[52]. - Revenue from credit card business increased by 6.3% or HKD 63,700,000 to HKD 1,082,300,000 compared to HKD 1,018,600,000 in the previous year[53]. - In mainland China, revenue increased from HKD 31,800,000 to HKD 41,400,000, but the business recorded a loss of HKD 12,900,000 due to deteriorating customer repayment performance[57]. Expenses and Cost Management - The company’s operating expenses decreased slightly to HKD 566,848,000 from HKD 569,371,000, indicating improved cost management[3]. - Total operating expenses decreased by 0.4% to HKD 566.8 million, leading to a cost-to-income ratio decline from 46.8% to 44.3%[44]. - General administrative expenses were HKD 175,425,000, up from HKD 172,213,000, reflecting an increase of about 1.3%[18]. - Marketing and promotional expenses decreased to HKD 68,060,000 from HKD 77,500,000, a reduction of approximately 12.2%[18]. - Employee costs, including director remuneration, rose to HKD 185,209,000 from HKD 178,746,000, an increase of about 3.1%[18]. - Depreciation and amortization expenses for tangible and intangible assets were HKD 39,855,000, down from HKD 44,289,000, indicating a decrease of approximately 10%[18]. Asset and Liability Management - Non-current assets increased from HKD 1,900,620 thousand to HKD 1,935,813 thousand, reflecting a growth of approximately 1.6%[5]. - Total equity increased from HKD 4,251,161 thousand to HKD 4,393,059 thousand, representing a growth of about 3.3%[6]. - The company's total liabilities decreased from HKD 5,593,986 thousand to HKD 5,344,730 thousand, indicating a reduction of approximately 4.4%[6]. - The company's total assets decreased from HKD 6,376,458 thousand to HKD 5,932,516 thousand, a decline of about 6.9%[5]. - The total current liabilities increased from HKD 226,351 thousand to HKD 303,622 thousand, indicating a rise of about 34.2%[5]. - The net debt-to-equity ratio remained stable at 0.7 as of November 30, 2025[35]. Credit Quality and Risk Management - The allowance for impairment losses on receivables was HKD 258,869,000 as of November 30, 2025, compared to HKD 264,939,000 as of February 28, 2025, indicating a slight decrease in provisions[24]. - The total expected credit loss for the current period was HKD 303,873,000, reflecting a significant increase compared to previous periods[25]. - The company recorded a write-off of uncollectible debts amounting to HKD 311,909,000 during the reporting period[26]. - The percentage of credit losses (Stage 2 and Stage 3 receivables) relative to total customer loans and receivables decreased from 4.2% on February 28, 2025, to 4.0% on November 30, 2025[31]. - The group adopted a more cautious loan portfolio management strategy, balancing customer base expansion with credit risk reduction[30]. - The effective credit risk monitoring led to significant improvements in loan quality, successfully controlling the proportion of high-risk customer loans[31]. Future Outlook and Strategic Initiatives - The company has not disclosed specific future outlook or guidance in the provided documents[3][4]. - Future guidance suggests continued revenue growth, with expectations of further expansion in both the Hong Kong and mainland China markets[17]. - The group has implemented new strategies to enhance market expansion, particularly focusing on the credit card and personal loan sectors[14]. - The company is actively exploring new product developments and technological advancements to strengthen its market position[14]. - The company plans to enhance its credit assessment procedures to stabilize asset quality and address expected increases in loan defaults[57]. - The strategy focuses on maintaining growth in local and online transaction volumes while improving credit assessment mechanisms to ensure high-quality asset portfolios[58]. - The launch of the One AEON Point project aims to create a comprehensive rewards platform to enhance credit card usage and customer loyalty[60]. - The company is implementing a fully paperless loan process and energy-efficient digital payment solutions to reduce its carbon footprint[60]. Compliance and Audit - The company’s financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[9]. - The auditor's report on the consolidated financial statements was unqualified, indicating a clean audit opinion[10]. - The company has maintained consistent accounting policies and methods compared to the previous fiscal year, ensuring comparability of financial data[11].
AEON CREDIT(00900) - 2026 Q3 - 季度业绩