霭华押业信贷2024年报

(Chairman and Chief Executive Officer) Independent Non-executive DirectorsDr. Leung Shiu Ki AlbertBOARD COMMITTEESAudit Committee(Chairman)Dr. Leung Shiu Ki AlbertRemuneration Committee(Chairman)Mr. Chan Kai Ho EdwardDr. Leung Shiu Ki AlbertNomination CommitteeDr. Leung Shiu Ki Albert(Chairman)Mr. Chan Kai Ho EdwardCOMPANY SECRETARYMr. Cheng Yiu HangHKICPAAUTHORISED REPRESENTATIVESMr. Chan Kai Ho EdwardMs. Chan Ying YuREGISTERED OFFICEWindward 3, Regatta Office ParkGrand Cayman, KY1-1108HKICPAWindward 3, Regatta Office ParkP.O. Box 1350Grand Cayman, KY1-1108Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG Rooms 2302–2303Kwan Chart TowerNo. 6 Tonnochy Road, WanchaiHong Kong 62302–2303 STOCK CODE 01319 01319 TRANSFER OFFICE Estera Trust (Cayman) Ltd.Windward 3, Regatta Office ParkP.O. Box 1350 Estera Trust (Cayman) Ltd.Windward 3, Regatta Office ParkP.O. Box 1350 Cayman Islands Cayman Islands HONG KONG SHARE REGISTRAR Boardroom Share Registrars (HK) Limited2103B, 21/F, 148 Electric Road 14821 2103B Hong Kong AUDITORSSHINEWING (HK) CPA Limited LEGAL ADVISERSAs to Hong Kong law:P. C. Woo & Co. As to Cayman Islands law: Appleby Appleby PRINCIPAL BANKERS CMB Wing Lung Bank LimitedThe Bank of East Asia, Limited Fubon Bank (Hong Kong) LimitedO-Bank Co., Ltd, Hong Kong Branch COMPANY WEBSITEwww.pawnshop.com.hk www.pawnshop.com.hk FINANCIAL PERFORMANCE•Revenueincreased by 8.1%to approximately HK$179.3 million•Revenuefrommortgageloanreceivablesincreasedby9.0%toapproximatelyHK$99.7million 9 . 0 %99,700,000 •Profitattributable to the equity shareholders increased by0.3%toapproximatelyHK$86.4million 0.3%86,400,000 48.2%•BasicearningspershareisHK4.5cents •Grosspawn loan receivables increased by 4.3%toapproximatelyHK$180.5million•Grossmortgage loan receivables increased by 2.0%to 4.54.3%180,500,0002 . 0 % approximatelyHK$769.5million 769,500,000 BUSINESS PERFORMANCE•Totalamount of new pawn loans granted decreased by15.2%toapproximatelyHK$819.0million 1 5 . 2 %819,000,000 10,500 toapproximatelyHK$10,500pertransaction 100,0001.4%715 •Numberof new pawn loans(larger than HK$100,000)granteddecreasedby1.4%to715cases •Totalamountofnewmortgageloansgranteddecreasedby42.8%toapproximatelyHK$341.2million•Averageamount of mortgage loans granted decreased by 4 2 . 8 % 341,200,00033.6% 33.6%toapproximatelyHK$3.9million•Numberof new mortgage loans granted decreased by 3,900,00013.9% 13.9%to87cases •Netinterest margin for pawn loans increased by 0.1percentagepointsto37.7%•Netinterest margin for mortgage loans increased by 1.0percentagepointsto11.5% 0.137.7%1 . 011.5% •Asat29February2024,theaverageloan-to-valueratioof themortgageloanportfoliowaskeptataround54.1% 54.1% 2023 Profitability data (HK$’000)Revenue from pawn loanbusiness– Interest income from pawnloans–9,477– Interest income from pawnloan receivables at fair valuethrough profit or loss–63,367– Gain on disposal ofrepossessed assets–6,715Total revenue from pawn loanbusiness79,559Revenue from mortgage loanbusiness– Interest income frommortgage loans–99,748 14,41110,0818,17110,21356,69350,13148,00254,2643,2059,0938,0247,26674,30969,30564,19771,74391,53282,672118,571152,216 165,841 Total revenue 112,50098,082133,005166,64986,10771,67193,144107,3834.53.74.85.567.864.572.874.451.947.251.047.916.216.316.916.37.56.27.67.58.47.39.812.015.615.013.713.137.638.740.241.010.59.910.09.5Effective income tax rate is equal to the current tax divided byReturn on total assets is calculated by dividing profit for the yearReturn on equity is calculated by dividing profit for the year byNet interest margin during the year refers to our interest incomein respect of our pawn loans and mortgage loans less therespective finance costs, divided by the average of month-endgross loan receivables balances of the corresponding loans during1234 BUSINESS REVIEWOi Wah Pawnshop Credit Holdings Limited (the “Company”or “our Company”), and its subsidiaries (together with theCompany collectively referred to as the “Group” or “our Group”)is a financing service provider in Hong Kong operating under the brand name of “Oi Wah”, principally engaged in providingsecured financing, including mortgage loans and pawn loans.MORTGAGE LOAN BUSINESSFor the year ended 29 February 2024 (“FY2024”), the economyhas started to recover gradually, resulting in a moderate demand for loans. The revenue from the mortgage loan business increasedfrom approximately HK$91.5 million for the year ended 28February 2023 (“FY2023”) to HK$99.7 million, representing anincrease of 9.0% or HK$8.2 million. Revenue generated from themortgage loan business accounted for approximately 55.6% of theGroup’s total revenue during the year. The gross mortgage loanreceivables was approximately HK$769.5 million as at 29 February2024. During the year, net interest margin of the mortgage loan91,500,0009.0%99,700,00055.6%769,500,00011.5% 8,200,000 Management Discussion and Analysis incr