Financial Performance - The annual profit for the year ended February 28, 2023, was HKD 373,611,000, an increase from HKD 342,592,000 in the previous year, representing a growth of approximately 9.4%[1][13]. - The pre-tax profit for the year was HKD 449,294,000, compared to HKD 397,973,000 in the previous year, indicating an increase of about 12.9%[6][18]. - Total revenue for the year reached HKD 1,231,631,000, up from HKD 1,049,589,000 in the prior year, reflecting a growth of approximately 17.3%[13]. - The total comprehensive income attributable to the company's owners for the year was HKD 443,174,000, up from HKD 379,018,000, reflecting an increase of approximately 16.9%[15]. - The company reported a total comprehensive income of HKD 443,174,000 for the year, compared to HKD 373,611,000 the previous year, reflecting a growth of approximately 18.6%[47]. - The net profit for the year was HKD 373,611,000, compared to HKD 342,592,000 in the previous year, indicating an increase of about 9.1%[72]. - The audited profit before tax for the year ended February 28, 2023, was HKD 449.3 million, an increase of HKD 51.3 million compared to the previous fiscal year[117]. - The net profit after tax grew by 9.1%, rising from HKD 342.6 million in the fiscal year 2021 to HKD 373.6 million in the fiscal year 2022[117]. Revenue and Income Sources - Interest income for the year increased to HKD 1,032,133,000, representing a rise of 17.4% from HKD 879,273,000 in the previous year[33]. - Net interest income increased to HKD 988,005,000 from HKD 847,443,000, marking a rise of about 16.6%[13]. - The group's revenue for the fiscal year was HKD 1,231,600,000, an increase of 17.3% or HKD 182,000,000 compared to the previous fiscal year's revenue of HKD 1,049,600,000[146]. - The group's operating income for the fiscal year 2022 was HKD 1,204.2 million, an increase of 18.0% or HKD 183.6 million from HKD 1,020.5 million in the previous year[122]. - The group recorded an increase in interest expenses of 38.6% or HKD 12,300,000, rising from HKD 31,800,000 to HKD 44,100,000 due to a rise in average funding costs from 2.6% to 3.5%[148]. Expenses and Liabilities - Operating expenses rose to HKD 647,484,000 from HKD 577,861,000, which is an increase of approximately 12.0%[10][13]. - The company reported a significant increase in market and promotional expenses, which rose to HKD 118,293,000 from HKD 89,443,000, representing a growth of about 32.3%[10]. - The company’s total liabilities increased to HKD 5,266,848,000 from HKD 4,599,202,000, reflecting a growth of 14.5%[25]. - The total liabilities due within one year amounted to HKD 2,107,675, compared to HKD 1,084,139 in the previous year[76]. Assets and Equity - Total equity as of February 28, 2023, was HKD 3,892,460,000, up from HKD 3,633,542,000 a year earlier, reflecting a growth of 7.1%[25]. - The company’s reserves grew to HKD 3,622,983,000, up from HKD 3,364,065,000, marking an increase of 7.7%[25]. - Current assets rose from HKD 4,057,168,000 to HKD 4,867,893,000, an increase of approximately 20%[46]. - The company’s cash and cash equivalents decreased to HKD 387,507,000 from HKD 588,963,000, a decline of 34.2%[27]. Customer Loans and Receivables - The company’s non-credit impaired customer loans amounted to HKD 1,023,395,000, an increase from HKD 866,626,000 in the previous year[38]. - Total customer loans and receivables increased by HKD 1,561.7 million, reaching HKD 5,836.2 million as of February 28, 2023, compared to HKD 4,274.6 million a year earlier[129]. - The overdue customer loans and receivables exceeding one month totaled HKD 174,354, representing 3.0% of total customer loans and receivables as of February 28, 2023, compared to HKD 145,595 and 3.5% in the previous year[75]. - The percentage of overdue customer loans and receivables decreased from 3.5% to 3.0% of total customer loans and receivables[153]. Strategic Initiatives and Future Outlook - The company plans to implement new strategies and expand its market presence, although specific details were not disclosed in the conference call[12]. - The group anticipates that the financial performance will continue to improve in the upcoming fiscal year, driven by strategic initiatives and market expansion efforts[56]. - The company plans to leverage its strong capital base for business expansion and potential acquisitions in the coming year[134]. - The group aims to maintain sales and receivables growth momentum while closely monitoring asset quality in a highly competitive market[161]. Market and Economic Context - The Hong Kong economy experienced a 3.5% decline in GDP compared to the previous year, influenced by high inflation and geopolitical factors[112]. - The unemployment rate in Hong Kong reached a low of 3.5% in recent months, indicating a recovery in the consumer market[195].
AEON CREDIT(00900) - 2023 - 年度业绩