Financial Performance - Revenue for the period from March 1, 2023, to May 31, 2023, reached HKD 379,953,000, a 36% increase from HKD 279,059,000 in the same period last year[3] - Net interest income for the current period was HKD 297,209,000, compared to HKD 226,087,000, reflecting a 31% growth[3] - Operating profit before impairment losses was HKD 176,953,000, up from HKD 126,896,000, representing a 39% increase[3] - Profit before tax for the current period was HKD 117,458,000, compared to HKD 98,324,000, indicating a 19% rise[3] - Basic earnings per share increased to HKD 23.16 from HKD 19.74, marking a 17% growth[3] - The company reported a net profit of HKD 96,967,000 for the three months ended May 31, 2023, compared to HKD 82,663,000 for the same period in 2022, representing an increase of approximately 17.2%[16] - The company reported a pre-tax profit of HKD 117,500,000, an increase of 19.5% or HKD 19,100,000 compared to the same period last year[66] - The net profit after tax rose by 17.3% or HKD 14,300,000, from HKD 82,700,000 to HKD 97,000,000[66] Comprehensive Income - Total comprehensive income for the period was HKD 75,093,000, down from HKD 107,518,000, a decrease of 30%[9] - Total comprehensive income for the period was HKD 75,093,000, down from HKD 107,518,000 in the previous year, indicating a decrease of approximately 30%[16] Assets and Liabilities - Non-current assets as of May 31, 2023, totaled HKD 1,481,400,000, a decrease from HKD 1,589,787,000[12] - Customer loans and receivables amounted to HKD 4,869,272,000, an increase from HKD 4,404,568,000, reflecting a growth of 10%[12] - The company reported a significant increase in non-current liabilities, with bank loans rising to HKD 1,711,591,000 from HKD 1,317,698,000, a 30% increase[14] - Total equity increased to HKD 3,967,553,000 from HKD 3,892,460,000, showing a growth of 2%[14] - The total assets as of May 31, 2023, amounted to 6,811,700,000 HKD, compared to 6,457,700,000 HKD at the end of February 2023[49] - The net debt to equity ratio increased from 0.4 on February 28, 2023, to 0.5 on May 31, 2023[43] Cash Flow - The net cash used in operating activities was HKD (187,229,000) for the three months ended May 31, 2023, compared to HKD (41,151,000) in the same period of 2022, showing a significant increase in cash outflow[18] - The company incurred a net cash outflow from investing activities of HKD (58,285,000) for the three months ended May 31, 2023, compared to HKD (20,303,000) in the same period last year, indicating increased investment expenditures[18] - The cash and cash equivalents at the end of the period were HKD 387,849,000, a decrease from HKD 547,774,000 at the end of the same period last year[18] Customer Loans and Receivables - The total customer loans and receivables amounted to HKD 6,158,463, with a provision for impairment of HKD 214,436[57] - The total amount of customer loans and receivables increased by 5.5% compared to the end of February 2023, amounting to 214,436,000 HKD[33] - Total customer loans and receivables increased by 5.5% or HKD 322,300,000 to HKD 6,158,500,000 as of May 31, 2023[87] Marketing and Business Development - The company successfully launched a new credit card and loan system in early March 2023, enhancing online security and customer service[65] - The group plans to focus on integrating digital and traditional marketing channels to promote credit card and personal loan products, while also exploring new investment opportunities[77] - The group plans to enhance digital marketing and provide new payment solutions following the completion of the credit card and loan system upgrade project[92] Expenses - Marketing and promotional expenses increased by 4,200,000 HKD to 25,300,000 HKD during the reporting period[47] - The company recorded an increase in fees and overdue charges by HKD 14,300,000 to HKD 30,600,000 during the reporting period[69] - Interest expenses rose 162.0% or HKD 12,600,000 to HKD 20,400,000 due to increased borrowing and market rates, with average funding costs rising from 2.6% to 3.8%[82] Credit Risk and Impairment - The company effectively managed credit risk, contributing to stable asset quality despite the challenges posed by the pandemic[42] - The group recorded an increase in impairment losses and provisions from HKD 36,800,000 to HKD 68,000,000 due to a significant rise in customer loans and receivables[86] - The proportion of loans and receivables classified as credit risk significantly deteriorated decreased from 4.3% to 4.1% between February 28, 2023, and May 31, 2023[42] Subsidiary Performance - The insurance brokerage business saw a decline in revenue to HKD 5,600,000 and performance to HKD 2,400,000, down from HKD 7,500,000 and HKD 4,200,000 respectively in the same period last year[75] - Revenue from the Shenzhen micro-lending subsidiary increased by HKD 1,300,000 to HKD 6,600,000, while performance from the Tianjin micro-lending subsidiary rose from HKD 700,000 to HKD 1,300,000[76] - Credit card receivables increased, driving credit card business revenue up 39.3% or HKD 85,600,000 to HKD 303,700,000 compared to the same period last year[74] - Private lending revenue increased by 32.1% or HKD 17,200,000 to HKD 70,700,000 compared to HKD 53,500,000 in the same period last year[89] - Hong Kong business revenue increased by 36.4% from HKD 273.8 million in Q1 2022 to HKD 373.3 million in Q1 2023, with segment performance rising by 33.0% from HKD 93.1 million to HKD 123.8 million[90]
AEON CREDIT(00900) - 2024 Q1 - 季度业绩