Investment Rating - Maintain Buy rating [1] Core Views - Industrial operations are the main growth engine, with the dividend payout ratio steadily increasing [4] - The company's 2023 performance met expectations, with revenue of RMB 37.96 billion (+3.8% YoY) and net profit of RMB 6.19 billion (+1.0% YoY) [4] - The company plans to distribute a dividend of HKD 0.5 per share, corresponding to a static dividend yield of 8.3% based on the closing price on March 12, 2024 [4] Revenue Breakdown - Industrial operations contributed 39% of revenue, up 3 percentage points YoY [4] - Financing lease interest income was RMB 22.47 billion (+3.6% YoY), accounting for 59% of revenue [4] - New business systems achieved interest income of RMB 2.09 billion (+12.1% YoY), accounting for 9% of revenue [4] - Industrial operations revenue was RMB 14.74 billion (+11% YoY), with equipment operations revenue at RMB 9.61 billion (+22% YoY) and hospital operations revenue at RMB 4.24 billion (+15.5% YoY) [4] Financing Lease Business - The interest-earning assets at the end of the period were RMB 2.69 trillion, flat compared to the beginning of the year [4] - The net interest margin expanded to 3.98% (+0.04 percentage points YoY) [4] - The non-performing loan ratio was 1.04% (-0.01 percentage points YoY), with a provision coverage ratio of 228% [4] Equipment Operations - The company maintains the leading market share in three major segments and has expanded into Southeast Asia [4] - The company's aerial work platform management scale reached 178,000 units, ranking first in Asia and top three globally [4] - The number of domestic service points increased to 490, covering nearly 200 cities, with 4 overseas points in Malaysia and Indonesia [4] Hospital Operations - The hospital operations segment benefited from the normalization of the operating environment [4] - The company focused on building regional differentiated disciplines and implemented a capital strategy to dispose of underperforming hospitals [4] - By the end of 2023, Hongxin Health owned 25 controlled hospitals, a decrease of 6 from the end of 2022 [4] Financial Forecasts - Revenue is expected to grow to RMB 47.26 billion by 2026, with a CAGR of 8.9% from 2023 to 2026 [5] - Net profit is expected to reach RMB 7.28 billion by 2026, with a CAGR of 6.6% from 2023 to 2026 [5] - The price-to-book ratio (PB) for 2024 is forecasted at 0.44x [4] Income Statement Highlights - Interest income is expected to grow to RMB 25.77 billion by 2026 [6] - Revenue from industrial operations is projected to reach RMB 21.38 billion by 2026 [6] - Net profit attributable to common shareholders is forecasted to be RMB 7.28 billion by 2026 [6] Balance Sheet Highlights - Total assets are expected to reach RMB 486.58 billion by 2026 [7] - Net interest-earning assets are projected to grow to RMB 336.41 billion by 2026 [7] - Common shareholders' equity is forecasted to increase to RMB 64.22 billion by 2026 [7]

Investment Rating - Buy (Maintained) [1] Core Views - The company's financial business remains stable, with industrial operations showing high growth, and its high dividend attribute is noteworthy [1] - The company's 2023 performance met expectations, with operating revenue reaching 37.96 billion yuan, a year-on-year increase of 3.76%, and net profit attributable to the parent company reaching 6.193 billion yuan, a year-on-year increase of 1.00% [2] - The company's financial and consulting segment saw a slight decline in interest income, but the financial services interest income increased by 3.64% to 22.467 billion yuan [3] - The industrial operations business achieved a revenue of 14.739 billion yuan, a year-on-year increase of 11.38%, with Hongxin Construction Development and Hongxin Health showing significant growth [3] - The company's net interest margin widened, and asset quality remained stable, with a non-performing asset ratio of 1.04%, a slight decrease from the previous year [3] Financial Performance and Valuation - The company's operating revenue is expected to grow steadily, with forecasts of 40.632 billion yuan, 43.046 billion yuan, and 45.504 billion yuan for 2024, 2025, and 2026, respectively [2] - Net profit attributable to the parent company is projected to be 6.649 billion yuan, 7.043 billion yuan, and 7.369 billion yuan for 2024, 2025, and 2026, respectively [2] - The EPS is expected to be 1.54 yuan, 1.63 yuan, and 1.71 yuan for 2024, 2025, and 2026, respectively [2] - The P/E ratio is forecasted to be 3.55, 3.35, and 3.20 for 2024, 2025, and 2026, respectively [2] Business Segments - Financial Services: Interest income from financial services increased by 3.64% to 22.467 billion yuan, with the average balance of interest-bearing assets increasing by 0.67% to 2.728 trillion yuan [3] - Industrial Operations: Revenue from industrial operations increased by 11.38% to 14.739 billion yuan, with Hongxin Construction Development and Hongxin Health contributing significantly [3] - Hongxin Construction Development expanded its overseas layout, with a management scale of 177,600 aerial work platforms, ranking first in Asia and top three globally [3] - Hongxin Health achieved a net profit of 170 million yuan, a year-on-year increase of 253%, by optimizing its hospital portfolio and improving management efficiency [3] Market Data - The closing price of the stock is 6.35 HKD, with a one-year low/high of 4.96/7.38 HKD [5] - The P/B ratio is 0.55, and the market capitalization is 27.401 billion HKD [5] Financial Indicators - The company's net asset per share is 11.61 HKD, with a debt-to-asset ratio of 83.62% [6] - The total share capital is 4.315 billion shares, with the same number of shares in circulation [6] Related Research - Previous reports have highlighted the company's special dividends and the strategic foresight of Hongxin Construction Development's listing [7]

香港交易及結算所有限公司、香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （於香港註冊成立的有限公司） （股份代號：3360） 未經審核二零二三年第三季度營運概要 截至二零二三年九月三十日止 及 有關購股權計劃的補充資料 截至二零二三年九月三十日止第三季度之營運概要 本公告載列遠東宏信有限公司(Far East Horizon Limited（)「本公司」）及其附屬公 司（「本集團」）截至二零二三年九月三十日止第三季度（「本回顧期」）未經審核之 營運概要。 本公告為根據香港聯合交易所有限公司（「聯交所」）證券上市規則第13.09(2)(a)條 及香港法例第571章證券及期貨條例XIVA部之要求而作出。 本回顧期內，面對複雜的外部環境，本集團始終保持既定的審慎穩健經營策略， 在「金融+產業」戰略指引下持續夯實經營基礎與資產質量，力保各項業務平穩推 ...

FEHORIZON 2023 中期報 » » 《 於香港註冊的有限公司 股票代碼：03360 遠 東 宏 信 有 限 公 司 FAR EAST HORIZON LIMITED ware delight C POLO HE FECT 更多 III III Dia nanoman 行 穩 致 遠 與 時 偕 行 曲 United The First Fine F 3 遗東宏信有限公司-2023中期報告 目 鐵 公司简介 … 炉乖裤片 黑猿嘴 ڊسم 类地資料 唯廣討論與分析 ··· : : : : ! -------- ----- 04 08 : : : 06 14 102 107 109 匯聚全球資源-助力產業發展(3 簡 蘭明中期合併財務資料附註 中當國聯片道 官 la 播群步吵蟒穿吵ց书品 同即中期合併領益表 同即中期合併財務狀況表 明中期公件權益愛動表 88中明公併現金流量表 : 110 111 116 118 121 112 113 遠東宏信有限公司·2023中期報告 04 中期報告 企業信息 | --- | --- | |---------------------------------------- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （於香港註冊成立的有限公司） （股份代號：3360） 截至二零二三年六月三十日止六個月中期業績公告 遠東宏信有限公司（「本公司」）董事局（「董事局」）謹此公佈本公司及其附屬公司 （「本集團」）截至二零二三年六月三十日止六個月的未經審核中期業績，連同截至 二零二二年六月三十日止六個月的比較數字。本公告列載本公司二零二三年中期 報告全文，並符合香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規 則」）中有關中期業績初步公告附載的資料之要求。 承董事局命 遠東宏信有限公司 主席、行政總裁及執行董事 孔繁星 香港，二零二三年八月九日 於本公告日期，本公司執行董事為孔繁星先生（主席）、王明哲先生及曹健先生； 本公司非執行董事為陳樹民先生、衛濛濛女士、劉海峰先生、郭明鑑先生及羅強 ...

欧 FEHORIZON 2022 年度報告 於香港註冊的有限公司 股票代碼：03360.hk 深 FAR EAST Thi 遠 東 宏 信 有 限 公 司 FAR EAST HORIZON LIMITED 曙 光 辉 映 攀 新 峰 云海浩瀚拓宏图 →⁄ ^← ड 東 宏 信 有 限 公 司 · 2022 年 度 報 告 目 鐵 公司簡介 让菜信息 上帮您能 美猥榄竟 唯層討論與分析 10 15 04 06 08 2 匯聚全球資源 · 助力產業發展 → ◇← 品務設定 唯尊詞報告 出業習近談出 出業社會貴重 輩及高級管理人員簡 85 103 138 112 142 3 遠東宏信有限公司 · 2022年度報告 4 企業信息 | --- | --- | --- | |-------------------------------------|------------------------|-------------------------------------| | 董事局 | 委員會組成 | 公司秘書 | | 主席及執行董事 | 審核與風險管理委員會 | 麥詩敏女士 （於二零二二年八月十一日 | | 孔繁星 ...

2021 年度報告 於香港註冊的有限公司 股票代碼：3360 * U REAST G 远 东 宏 信 有 限 公 司 FAR EAST HORIZON LIMITED an 千 嶂 煥 然 起 帷 喔 執 子 秦 局 共 新 程 ▽ 逸東宏信有限公司 · 2021年度報告 目 鐵 ِ َ َ َ َ َ َ َ َ َ َ 美振妮歌 公司簡介 點掛流出 寸政總裁致辭 出業部沿競合 理會討論與分析 事及高级管理人員簡歷 04 06 08 10 12 17 98 82 2 匯 聚全球資源 · 助力中國產業 ∞ 助務報告 - 雷尊歌宇 朵糕ಭ會貴庄報告 106 129 134 遠東宏信有限公司 · 2021年度報告 4 企業信息 | --- | --- | --- | |---------------------------------|------------------------|----------------------------| | 董事會 | 委員會組成 | 公司秘書 | | 主席及非執行董事 | 審核與風險管理委員會 | 麥詩敏女士 | | 寧高寧先生 （主席） | 葉偉明先生 （主席） | | ...