During the Reporting Period, the Group’s revenue increased by 9.4% to HK$1,304.6 million compared with the same period last year (the “first nine months of FY2023/24” or the “Previous Period”) and operating profit rose by 11.3% to HK$648.4 million. The Group’s interest income increased by 10.0% to HK$1,105.5 million for the Reporting Period. Meanwhile, profit after tax for the Reporting Period amounted to HK$275.3 million (Previous Period: HK$282.3 million), with earnings per share of 65.74 HK cents (Previous Period: 67.40 HK cents).

Given the slower than anticipated market recovery, the Group adopted a more prudent approach during the Reporting Period, prioritising stable growth in both sales and receivables. This strategy focused on building a high-quality portfolio designed to deliver income, growth and resilience. The Group’s marketing strategy for the third quarter focused on targeted and popular promotions to attract customers and drive sales growth both domestically and internationally. Proactive marketing initiatives contributed to a 9.2% increase in the Group’s overall sales for the first nine months of FY2024/25 compared with the same period last year, with gross advances and receivables also increasing by 5.7% from the end of February 2024.

In parallel with the efforts to drive stable business growth, a new credit card design embodying the Group’s commitment to innovation and sustainability was launched in September 2024 to offer customers a more convenient and premium payment experience. The redesigned card incorporates features that address the growing adoption of contactless payments and uses recycled plastics, underscoring the Company’s dedication to integrating sustainability practices throughout its operations.

In terms of technology development, following the upgrade of its credit application processing platform, virtual credit card functionality was launched within the “AEON HK” mobile application (the “Mobile App”). This feature enables customers to make purchases immediately upon card approval and activation, eliminating waiting time and the need to visit a branch.

Looking ahead, the Group will prioritise sales and receivables growth through overseas and online spending, while refining credit assessment and control methods to maintain a sustainable asset quality portfolio and expedite decision-making processes. Marketing efforts will leverage mass promotions and targeted broadcast channels to increase market penetration and expand market share, particularly among the younger demographic. These efforts will include gamification and incentive programmes to stimulate consumer spending. The launch of new and advanced mobile payment products and a self-service branch concept will further enhance the customer experience and maintain a competitive edge.

Mr Wei Aiguo, Managing Director of AEON Credit, said, “Despite the moderation in Hong Kong’s economic recovery momentum, we are pleased to have delivered a continued growth in sales and receivables in the first nine months of FY2024. We remain committed to providing exceptional credit card services that meet evolving customer needs and plan to expand our customer base by offering innovative and customised products. With our adaptability, strong liquidity, robust balance sheet, and proven management expertise, the Group is well-equipped to capitalise on the significant opportunities presented by the growing consumer finance market. These efforts will enable us to achieve sustainable growth and deliver greater value to our shareholders.”

About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)

AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.

For more information, please visit the company’s website at www.aeon.com.hk.