Financial Performance - Revenue for the nine months ended November 30, 2022, was HKD 887,361,000, representing a 15.2% increase from HKD 770,280,000 in the same period last year[1]. - Profit for the period was HKD 250,314,000, up from HKD 243,256,000, indicating a 2.3% increase year-on-year[2]. - Total comprehensive income for the period reached HKD 292,255,000, compared to HKD 236,522,000 in the previous year, marking a 23.5% rise[2]. - The group reported a profit before tax of HKD 299,664,000 for the period, compared to HKD 291,839,000 in the prior year, reflecting a growth of approximately 2.5%[12]. - Revenue for the reporting period was HKD 887.4 million, representing an increase of HKD 117.1 million or 15.2% year-on-year[30]. - Net interest income for the reporting period was HKD 715.8 million, an increase of 14.1% or HKD 88.7 million compared to the previous year[31]. - Operating income increased to HKD 878.3 million for the nine months, up HKD 131.5 million from HKD 746.8 million in the previous year[32]. - The group recorded an operating profit of HKD 380.7 million for the nine months of the fiscal year 2022/2023, an increase of 17% compared to HKD 325.3 million in the same period last year[33]. Assets and Equity - Total assets as of November 30, 2022, amounted to HKD 4,634,667,000, up from HKD 4,057,168,000, reflecting a 14.2% increase[3]. - The company's equity totalled HKD 3,741,541,000, an increase from HKD 3,633,542,000, representing a growth of 3.0%[4]. - The total amount of customer loans and receivables reached HKD 5,277.2 million as of November 30, 2022, up from HKD 4,274.6 million as of February 28, 2022[36]. - Total assets increased by 18.8% from HKD 5,089.6 million as of February 28, 2022, to HKD 6,045.6 million as of November 30, 2022[35]. Customer Loans and Receivables - Customer loans and receivables increased significantly to HKD 1,081,108,000 from HKD 750,797,000, a growth of 43.9%[3]. - The total customer loans and receivables amounted to HKD 5,277,168,000, an increase from HKD 4,209,886,000 in the previous year, marking a growth of about 25.3%[19]. - The group’s credit card receivables were HKD 4,047,100,000, up from HKD 3,304,452,000 in the previous year, indicating a growth of approximately 22.4%[19]. - Personal loan receivables rose by HKD 247 million to HKD 1,152.4 million as of November 30, 2022, driven by successful marketing and brand building[36]. Operating Expenses - The group’s operating expenses totaled HKD 497,615,000, compared to HKD 421,475,000 in the previous year, representing an increase of approximately 18.0%[17]. - Total operating expenses rose to HKD 497.6 million, an increase of HKD 76.1 million or 18.1% compared to the previous year, with the expense-to-revenue ratio slightly increasing to 56.7%[32]. Cash Flow - For the nine months ended November 30, 2022, the net cash generated from operating activities was a negative HKD 652,527,000, compared to a positive HKD 95,484,000 for the same period in 2021[7]. - The net cash used in financing activities was HKD 620,326,000, contrasting with a negative cash flow of HKD 385,145,000 in the same period last year[7]. - The cash and cash equivalents at the end of the period were HKD 558,132,000, a decrease from HKD 531,287,000 at the end of the previous year[7]. Impairment and Provisions - The total amount of impairment provisions as of November 30, 2022, was HKD 199,438 thousand, with HKD 90,418 thousand in Stage 1, HKD 26,923 thousand in Stage 2, and HKD 82,097 thousand in Stage 3[21]. - Impairment losses and provisions increased by 115.6% from HKD 65 million in the previous fiscal year to HKD 140.2 million in the current fiscal year[33]. Revenue Segments - Credit card segment revenue reached HKD 694,582,000, up from HKD 611,204,000 in the previous year, indicating a year-over-year increase of about 13.6%[12]. - The group’s insurance segment revenue was HKD 19,287,000, down from HKD 21,047,000 in the previous year, reflecting a decline of about 8.4%[12]. - Revenue from Hong Kong operations increased by HKD 114,100,000 or 15.1%, from HKD 757,300,000 to HKD 871,400,000[42]. - Mainland China business revenue rose from HKD 13,000,000 to HKD 16,000,000, an increase of HKD 3,000,000 or 23.08%[43]. Strategic Initiatives - The company launched promotional activities, including a "Japan Travel Spending Reward" program, to stimulate overseas consumer spending[25]. - The group signed a new distribution partnership with An Dan Life Insurance to expand offline and online insurance sales channels, enhancing customer access to various insurance products[27]. - The group established a sustainable performance-linked loan framework, signing three agreements totaling HKD 320 million for a three-year term, marking its first sustainable financing initiative[28]. - Significant resources will be invested in digitization to improve internal business processes and sustainability[45].
AEON CREDIT(00900) - 2023 Q3 - 季度财报