During the Reporting Period, the Group's revenue surged by 37.0% year-on-year to
As market recovery continued to gain momentum, the Group took a number of timely initiatives during the Reporting Period to drive healthy growth in both sales and receivables and maintain a quality portfolio that offers income, growth and resilience, all at the same time. The Group achieved an overall increase in sales of 24.6% year-on-year, and the gross advances and receivables balance increased by 10.3% from the end of
With regard to marketing, the Group utilized targeted marketing and attractive marketing promotions to better make known to the right customers its competitive products and services and boost sales and receivables growth momentum. Given the popularity of the cash-back loyalty incentive scheme established under AEON Card Wakuwaku, the Group also launched similar incentive programs to stimulate local dining and overseas spending. Besides, the Group continued to revamp and expand its branch network to meet customers' growing demand for face-to-face advisory services.
Regarding credit management, the continued enhancement of the Group's credit assessment model with updated market indicators has allowed customers to get access to flexible credit facilities that remain relevant and affordable. At the same time, the implementation of a new analytical tool has gone some significant ways to control the increase in delinquent receivables. As for information technology, the rollout of the new card and loan system and "AEON HK" Mobile App are expected to provide a flexible and integrated platform for the creation and delivery of new payment solutions and product benefits.
In parallel with its business growth, the Group has also placed great emphasis on integrating sustainability into its business operations. Among its various sustainability efforts, the new branch uniforms made from environmentally friendly materials were introduced in early
Looking ahead, in the face of a recovering but still competitive and challenging market, the Group will strive to accelerate the momentum of sales and receivables growth, while improving the credit assessment technique to maintain a stable asset quality. On the marketing side, the Group will continue to launch mass promotion initiatives and others with exciting gamification and incentives to capture the expected surge in consumer spending in the market. Moreover, the Group will further strengthen its customer relationship management and foster customer engagement through various channels. New contactless payment products and digital services are expected to be launched to enrich customer experience and ensure that the Group stays ahead in the market competition.
To further reduce its carbon footprint and energy consumption, the Group will accelerate its efforts to gradually remove traditional first-use PVC plastics from its credit cards. From
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