Although the market remained generally uncertain in 1H2021, with the Group resuming marketing activities for AEON credit cards whilst increasing the frequency and scale of mass promotions, overall sales increased by 22.4% year-on-year. However, the increase in sales mainly resulted in progressive growth of receivable balances in the second quarter, leading to lower monthly revolving credit card balances and personal loan balances in the first half. As a result, revenue was down by 10.9% year-on-year to
In view of the sound fundamentals of the Group and to share the fruitful results with shareholders, the Board has resolved to declare an interim dividend of 22.0 HK cents per share, representing a dividend pay-out ratio of 53.5%, which was in line with the Group's policy of paying no less than 30% of its net profit as dividends each year.
In the months ahead, the government's consumption voucher scheme will continue to stimulate consumer spending. Moreover, unemployment rate in
The Group will primarily focus on driving sales and receivables growth, while also containing any deterioration of asset quality as far as possible. The Group will step up using data analytics to strengthen marketing and credit control activities. On marketing, the Group will increase mass promotion activities for both its credit card and personal loan business so as to capture any possible surge in consumer spending. Moreover, it will fortify its mobile application and net-member functions and also marketing initiatives to enhance the convenience and benefits to users of its online services.
With financial technology developing fast, the Group will continue to commit significant resources in digitalization to enhance operational efficiency and its ability to respond quickly to market changes. Apart from the issuing phase of new card and loan system project, and the revamping of its mobile application and net-member systems, the Group will also commence enhancing its data warehouse in the second half year so as to strengthen future campaign management capabilities.
In Mainland China, focusing on business expansion in selected merchant sectors and effective credit assessment, the Group's microfinance subsidiary in
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