智通财经APP讯，宏信建发(09930)公布，董事会已于2024年3月12日决议并批准采纳限制性股份奖励计 划及建议采纳股份期权计划。董事相信，集团持续取得成功与僱员的投入和努力息息相关。采纳限制性 股份奖励计划及建议采纳股份期权计划可作为奖励以鼓励僱员对集团作出更多贡献。 经董事会批准，根据限制性股份奖励计划授出的限制性股份不得超过公司于董事会批准及采纳限制性股 份奖励计划当日已发行股份总数的3.5%，即约1.119亿股。董事会已于2024年3月12日批准于2024年度内 授予不超过5595.177万股限制性股份，授予可获行使为不超过 2397.933万股股份的期权。 ...

Company Overview - As of December 31, 2023, the company managed a total of 177,600 aerial work platforms, ranking first in Asia and third globally[12]. - The total management scale of material assets reached approximately 228,000 tons, maintaining a leading position in the domestic market[12]. - The number of service points in mainland China increased to 489, with an additional point established in Hong Kong, enhancing service capabilities for industrial clients[12]. - The company has successfully entered the Southeast Asian market, establishing service points in Malaysia and Indonesia, with ongoing research and planning in Thailand, Vietnam, the Middle East, and North Africa[12]. Financial Performance - The company achieved a total revenue of RMB 9.61 billion in 2023, representing a year-on-year growth of 22.0%[15]. - Net profit attributable to ordinary shareholders reached RMB 960 million, an increase of 44.9% compared to the previous year[15]. - The total number of customers served increased to approximately 232,000, up from about 158,000 at the end of 2022[15]. - Operating leasing services generated revenue of RMB 5.14 billion, accounting for 53.5% of total revenue[15]. - Engineering technical services achieved revenue of RMB 2.96 billion, contributing to the overall growth of the company[15]. - The average return on total assets was approximately 3.1%, while the average return on equity was about 11.0%[16]. - The company reported a significant increase in operating cash flow, reaching RMB 3.95 billion, a 40% increase from RMB 2.82 billion in the previous year[16]. Market Expansion and Strategy - The company aims to leverage its operational capabilities and industry resource integration advantages to expand into new overseas markets, particularly in Southeast Asia, the Middle East, and North Africa[12]. - The company plans to focus on high-quality development and market expansion in the coming years[17]. - The company anticipates a recovery in the new formwork system market in 2024, driven by favorable factors such as an increase in the construction business activity index to 56.9% in December 2023[31]. - The company is actively expanding its network layout, enhancing the utilization rates of its main product lines, including new support systems and new formwork systems[42]. Digital Transformation and Innovation - The company has a mature digital capability that continuously enhances operational efficiency and customer service capabilities[10]. - The company is focusing on digital transformation to improve operational efficiency and reduce costs, achieving comprehensive digital integration across various business processes[33]. - New product and technology development initiatives are underway to enhance service offerings and operational efficiency[20]. Risk Management and Financial Stability - The company achieved a "AAA" credit rating from Zhongchengxin International Credit Rating Co., Ltd. in the second half of 2023, indicating strong financial stability[12]. - The company reported a solid cash flow and improved financial condition, enhancing its risk resistance capabilities[12]. - The debt-to-asset ratio improved to 65.5% from 78.0% in the previous year, indicating better financial stability[19]. - The company has implemented a systematic risk management assessment policy to evaluate customer creditworthiness and performance, enhancing the overall risk management framework[77]. Corporate Governance - The board consists of 11 members, including 2 executive directors, 5 non-executive directors, and 4 independent non-executive directors[122]. - The company emphasizes a healthy corporate culture as the core of good corporate governance, promoting accountability and ethical behavior among all employees[119]. - The company has adopted a standard code of conduct for securities trading by directors, ensuring compliance since the listing date until December 31, 2023[120]. - The company has established anti-corruption and whistleblowing policies to encourage reporting of unethical behavior[119]. Employee and Social Responsibility - The company has made charitable donations totaling RMB 260,000 during the fiscal year ending December 31, 2023[183]. - The company has complied with all statutory social insurance and housing fund obligations applicable in China as of December 31, 2023[110]. - The company has a structured approach to employee benefits, including pension plans and housing funds, as detailed in the financial statements[195]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[166]. - The company is investing 50 million in research and development for new technologies aimed at enhancing operational efficiency[166]. - The management team emphasized a focus on risk management and operational control to mitigate potential market fluctuations[163].

Revenue and Profit Performance - Total revenue for the first half of 2023 reached RMB 4,205.97 million, a 17.9% increase compared to RMB 3,565.17 million in the same period of 2022[10] - Revenue for the first half of 2023 reached RMB 4,205.971 million, a year-on-year increase of 18.0%[26] - Revenue for the six months ended June 30, 2023, increased to RMB 4,205,971 thousand, up from RMB 3,565,169 thousand in the same period in 2022[120] - Total revenue from continuing operations reached RMB 4,205.971 million in H1 2023, up from RMB 3,565.169 million in H1 2022[146][147] - Gross profit for the first half of 2023 was RMB 1,436.15 million, with a gross profit margin of 34.1%, down from 38.4% in the same period of 2022[10] - Gross profit for the first half of 2023 was RMB 1,436.152 million, up 4.8% compared to the same period last year[26] - Gross profit for the six months ended June 30, 2023, was RMB 1,436,152 thousand, compared to RMB 1,370,679 thousand in the same period in 2022[120] - Net profit attributable to ordinary shareholders for the first half of 2023 was RMB 237.14 million, a 49.0% increase compared to RMB 159.11 million in the same period of 2022[10] - Net profit attributable to owners of the parent for the six months ended June 30, 2023, was RMB 237,141 thousand, up from RMB 159,114 thousand in the same period in 2022[120] - Net profit for the period reached RMB 237,141 thousand, a significant increase from RMB 159,114 thousand in the previous period[122] - Pre-tax profit for the first half of 2023 was RMB 337.696 million, a year-on-year increase of 37.9%[26] - Pre-tax profit for the six months ended June 30, 2023, included depreciation of property, plant, and equipment of RMB 1,147,676 thousand and employee benefit expenses of RMB 567,186 thousand[159] - Pre-tax profit for the first half of 2023 was RMB 337,696 thousand, a significant increase from RMB 244,919 thousand in the same period of 2022[167] - Adjusted pre-tax profit (non-HKFRS measure) for the first half of 2023 was RMB 418.262 million, up 11.5% year-on-year[29] - EBITDA (non-HKFRS measure) for the first half of 2023 was RMB 1,965.122 million, an increase of 11.4% compared to the same period last year[29] - EBITDA margin (non-HKFRS measure) for the first half of 2023 was 46.7%, down from 49.5% in the same period of 2022[10] - The company's profit for the period was RMB 237,141 thousand, a 49.0% increase year-over-year, with adjusted profit (non-HKFRS measure) reaching RMB 317,707 thousand, up 9.8%[56] - Total comprehensive income for the period amounted to RMB 237,560 thousand, compared to RMB 159,114 thousand in the prior period[122] Segment Performance - Operating lease services contributed RMB 2,505.62 million in revenue, accounting for 59.6% of total revenue, with a gross profit margin of 39.5%[10] - Engineering technical services generated RMB 1,140.63 million in revenue, with a gross profit margin of 20.7%[10] - Platform and other services revenue surged to RMB 559.72 million, a 174.0% increase year-over-year, with a gross profit margin of 37.4%[10] - Operating lease service revenue increased by 8.7% to RMB 2,505,619 thousand, accounting for 59.6% of total revenue[35] - Engineering technical service revenue grew by 8.1% to RMB 1,140,634 thousand, representing 27.1% of total revenue[35] - Platform and other services revenue surged by 174.0% to RMB 559,718 thousand, contributing 13.3% to total revenue[35] - Operating lease services revenue increased to RMB 2,505.619 million in H1 2023, up from RMB 2,305.748 million in H1 2022[146][147] - Engineering technical services revenue grew to RMB 1,140.634 million in H1 2023, compared to RMB 1,055.110 million in H1 2022[146][147] - Platform and other services revenue surged to RMB 559.718 million in H1 2023, a significant increase from RMB 204.311 million in H1 2022[146][147] - Segment profit for operating lease services decreased to RMB 571.375 million in H1 2023, down from RMB 673.418 million in H1 2022[146][147] - Segment profit for engineering technical services rose to RMB 23.064 million in H1 2023, compared to RMB 14.406 million in H1 2022[146][147] - Segment profit for platform and other services increased significantly to RMB 124.584 million in H1 2023, up from RMB 15.502 million in H1 2022[146][147] - Revenue from top five customers accounted for 18% of total revenue in H1 2023, down from 23% in H1 2022[148] - Revenue recognized from contracts with customers at a point in time (goods) was RMB 168,007 thousand, while revenue recognized over time (services) was RMB 1,055,110 thousand[152] - The amount of revenue recognized from contract liabilities at the beginning of the period was RMB 31,152 thousand, with RMB 15,003 thousand from sales of goods and RMB 16,149 thousand from engineering technical services[153] - The transaction price allocated to remaining performance obligations (unfulfilled or partially unfulfilled) as of June 30, 2023, was RMB 813,897 thousand, with RMB 569,728 thousand expected to be recognized within one year and RMB 244,169 thousand expected to be recognized after one year[155] Financial Position and Ratios - Total assets increased to RMB 30,601,785 thousand as of June 30, 2023, up from RMB 30,288,394 thousand at the end of 2022[11] - Total liabilities decreased to RMB 20,548,944 thousand as of June 30, 2023, down from RMB 23,616,202 thousand at the end of 2022[11] - Asset-liability ratio improved to 67.1% as of June 30, 2023, compared to 78.0% at the end of 2022[11] - Equity attributable to ordinary shareholders increased to RMB 10,052,841 thousand as of June 30, 2023, up from RMB 6,672,192 thousand at the end of 2022[11] - Net asset per share rose to RMB 3.14 as of June 30, 2023, compared to RMB 2.36 at the end of 2022[11] - The company's average return on equity (ROE) for the first half of 2023 was 5.7%, up from 5.2% in the same period of 2022[10] - The company's average return on assets (ROA) for the first half of 2023 was 1.6%, up from 1.1% in the same period of 2022[10] - The company's debt-to-asset ratio decreased to 67.1% as of June 30, 2023, down from 78.9% in the same period last year, primarily due to the reclassification of ordinary share redemption liabilities and accrued interest from liabilities to equity[90] - Average return on equity increased from 5.2% in the first half of 2022 to 5.7% in the first half of 2023, driven by higher profit growth compared to average equity growth[88] - Average return on total assets rose from 1.1% in the first half of 2022 to 1.6% in the first half of 2023, due to profit growth outpacing total asset growth[89] - Total current assets rose to RMB 11,121,556 thousand from RMB 10,339,945 thousand[124] - Total current liabilities increased to RMB 9,357,229 thousand from RMB 8,190,967 thousand[125] - Net current assets decreased to RMB 1,764,327 thousand from RMB 2,148,978 thousand[125] - Total non-current liabilities decreased to RMB 11,191,715 thousand from RMB 15,425,235 thousand[125] - Total equity increased to RMB 10,052,841 thousand from RMB 6,672,192 thousand[125] - Retained earnings rose to RMB 2,044,009 thousand from RMB 1,826,946 thousand[127] - Total equity as of June 30, 2023, was RMB 6,169,259 thousand, with retained earnings of RMB 1,341,569 thousand[130] Cash Flow and Financing - Operating cash flow for the six months ended June 30, 2023, was RMB 1,298,924 thousand, a decrease from RMB 1,412,825 thousand in the same period in 2022[131] - Net cash used in investing activities for the six months ended June 30, 2023, was RMB 602,450 thousand, a significant improvement from RMB 2,385,414 thousand in the same period in 2022[132] - Net cash generated from financing activities for the six months ended June 30, 2023, was negative RMB 496,102 thousand, compared to positive RMB 1,585,381 thousand in the same period in 2022[132] - Cash and cash equivalents increased by RMB 200,372 thousand to RMB 2,364,040 thousand as of June 30, 2023[132] - The average financing interest rate decreased by 0.04% to 4.27% in H1 2023, driven by lower domestic financing costs[54] - The company actively promoted green syndicated loans, supply chain financing, and technology innovation loans to reduce financing costs[77] - Net proceeds from the global offering amounted to approximately RMB 1,466.813 million, with 67.0% allocated to optimizing equipment portfolios, 11.0% to enhancing one-stop solution capabilities, and 8.0% to digital upgrades[101] - Capital expenditures for the first half of 2023 were RMB 940.822 million, a 62.4% decrease from RMB 2,500.619 million in the same period last year, as the company controlled procurement scale through platform service models[91] - The group added RMB 940,822 thousand worth of property, plant, and equipment during the first half of 2023, primarily in leased and service equipment, materials, and molds[171] - Depreciation and impairment charges for property, plant, and equipment totaled RMB 1,147,676 thousand in the first half of 2023[171] - The net book value of property, plant, and equipment as of June 30, 2023, was RMB 18,626,563 thousand, with leased and service equipment, materials, and molds accounting for the majority at RMB 17,960,939 thousand[171] - The total net book value of property, plant, and equipment as of December 31, 2022, was RMB 19,102,390 thousand, with the largest component being rental and service equipment, materials, and molds at RMB 18,400,428 thousand[172] - The company added RMB 3,220,391 thousand to property, plant, and equipment during 2022, primarily driven by additions to rental and service equipment, materials, and molds (RMB 3,164,519 thousand)[172] - As of June 30, 2023, the company had mortgaged property, plant, and equipment with a net book value of RMB 7,493,250 thousand as collateral for financing, up from RMB 6,837,583 thousand as of December 31, 2022[173] - The net book value of right-of-use assets as of June 30, 2023, was RMB 377,451 thousand, with office assets accounting for RMB 113,306 thousand and equipment, materials, and molds at RMB 80,395 thousand[177] - Lease liabilities increased to RMB 164,724 thousand as of June 30, 2023, from RMB 131,259 thousand as of December 31, 2022, driven by new leases of RMB 130,959 thousand[180] - Rental income for the period ending June 30, 2023, was RMB 2,806,241,000, a 19.8% increase compared to RMB 2,342,052,000 in the same period last year[183] - Total undiscounted lease payments receivable as of June 30, 2023, amounted to RMB 3,362,316,000, with RMB 2,980,184,000 due within one year[184] Expenses and Costs - Sales and administrative expenses decreased by 8.6% to RMB 557,614 thousand, with a reduction in employee and labor subcontracting costs by 5.0%[45] - Trade and sublease costs surged by 104.3% to RMB 335,806 thousand, driven by increased overseas market penetration and equipment sales[46] - R&D expenses increased by 4.8% to RMB 112,883 thousand, reflecting continued investment in innovation and technology[46] - Depreciation and amortization increased by 8.4% to RMB 1,180,548 thousand in H1 2023, driven by business expansion and increased self-owned equipment[47] - Employee and labor costs decreased by 5.0% to RMB 642,607 thousand in H1 2023 due to adjustments in personnel and salary structure[47] - Trade and sublease costs surged by 104.3% to RMB 335,806 thousand in H1 2023, primarily due to growth in platform services[47] - Maintenance and material costs rose by 17.1% to RMB 325,442 thousand in H1 2023, reflecting expanded equipment and project scale[47] - Transportation and lifting costs increased by 29.7% to RMB 416,124 thousand in H1 2023, driven by higher asset utilization and transportation volume[47] - R&D expenses grew by 4.8% to RMB 112,883 thousand in H1 2023, reflecting continued investment in engineering and digital innovation[47] - Other income and gains increased by 26.2% to RMB 111,928 thousand in H1 2023, mainly due to higher government subsidies and financial instrument gains[48] - Accounts receivable and contract assets increased by 53.6% to RMB 89,884 thousand in H1 2023, while notes receivable surged by 2,085.6% to RMB 73,654 thousand[50] - Other expenses decreased by 65.6% to RMB 30,731 thousand in H1 2023, primarily due to reduced foreign exchange losses[51] - Financial costs increased to RMB 454,624 thousand in the first half of 2023, up from RMB 434,857 thousand in the same period of 2022, primarily driven by higher interest on bank and other financing[162] - Total tax expenses for the period amounted to RMB 100,555 thousand, compared to RMB 85,805 thousand in the first half of 2022, with a current tax expense of RMB 120,145 thousand and deferred tax benefits of RMB 19,590 thousand[163] - The effective tax rate for the group was calculated based on a statutory rate of 25% for most subsidiaries in mainland China, with certain subsidiaries enjoying a preferential rate of 15% due to high-tech enterprise status[164][166] - R&D expenses for the six months ended June 30, 2023, were RMB 112,883 thousand, with additional costs such as transportation expenses of RMB 43,032 thousand and travel expenses of RMB 32,843 thousand[160] - Depreciation of property, plant, and equipment included in the cost of sales for the six months ended June 30, 2023, was RMB 1,110,457 thousand[160] - Commission expenses, including bank commissions and handling fees, amounted to RMB 7,135 thousand for the six months ended June 30, 2023[161] Market and Industry Trends - Manufacturing investment in China grew by 6% year-on-year in the first half of 2023[16] - Infrastructure investment (excluding electricity) in China increased by 7.2% year-on-year in the first half of 2023[16] - China's construction industry output value reached RMB 13.2 trillion in the first half of 2023, a year-on-year increase of 5.9%[18] - New contracts signed by China's construction enterprises totaled RMB 15.4 trillion in the first half of 2023, up 3.1% year-on-year[18] - Southeast Asia's GDP growth is projected at 6% for the Philippines and Vietnam, 5.5% for Cambodia, 4.9% for Indonesia, and 4.3% for Malaysia in 2023[17] - The company expects increased adoption of new support systems due to stricter government and industry requirements for construction projects[21] - The company anticipates growth in the new formwork system market, driven by government promotion and increasing demand for safety and efficiency[22] - The company plans to strengthen operational capabilities and equipment management scale, accelerate global expansion, and explore overseas markets, particularly in Southeast Asia, to form a second growth curve[102] Corporate Governance and Compliance - The company complied with the Corporate Governance Code, except for Code Provision F.2.2, which requires the chairman to attend the annual general meeting[111] - The company's board of directors included at least three independent non-executive directors, one of whom had accounting or financial management expertise, as required by the Listing Rules[113] - The company adopted the standard code set out in Appendix 10 of the Listing Rules as the code of conduct for directors and relevant employees in dealing with the company's securities[112] - The audit committee reviewed the condensed consolidated financial

Company Overview - Horizon Construction Development Limited reported its interim results for the six months ended June 30, 2023, with a focus on its leading position in the equipment operation service market in China[11]. - The company has established a diverse and high-quality customer base, ranking first in the number of service outlets among equipment operation service providers in China[11]. - The company emphasizes its strong digital capabilities, which continuously enhance operational efficiency and customer service capabilities[11]. - Horizon Construction Development Limited's shares were officially listed on the Hong Kong Stock Exchange on May 25, 2023[11]. - The company aims to leverage synergies across its product lines and service categories to enhance market competitiveness and customer loyalty[11]. - The company is recognized for its comprehensive, multi-functional services covering the entire project lifecycle[11]. - The company has received numerous awards reflecting its leading market position and brand recognition[11]. - The company is committed to expanding its market presence and enhancing its service capabilities through strategic initiatives[11]. Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 4,205,971 thousand, an increase of 17.9% compared to RMB 3,565,169 thousand in the same period of 2022[14]. - The gross profit margin decreased to 34.1% in the first half of 2023 from 38.4% in the same period of 2022[14]. - Adjusted profit before tax for the six months ended June 30, 2023, was RMB 418,262 thousand, up from RMB 375,216 thousand in the same period of 2022, representing an increase of 11.5%[14]. - The company reported a net profit attributable to ordinary shareholders of RMB 237,141 thousand for the first half of 2023, compared to RMB 159,114 thousand in the same period of 2022, reflecting a growth of 48.9%[14]. - Basic earnings per share for the first half of 2023 were RMB 0.082, compared to RMB 0.056 in the same period of 2022, marking a 46.4% increase[14]. - The average return on equity for the first half of 2023 was 5.7%, up from 5.2% in the same period of 2022[14]. - The pre-tax profit of the group for the first half of 2023 was RMB 337.7 million, an increase of 37.9% compared to RMB 244.9 million in the same period last year[29]. - The company achieved a net profit of RMB 237,141 thousand, representing a significant increase of 49.0% from RMB 159,114 thousand in the previous year[30]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 30,601,785 thousand, an increase from RMB 30,288,394 thousand at the end of 2022[15]. - The debt-to-asset ratio improved to 67.1% as of June 30, 2023, down from 78.0% at the end of 2022[15]. - The company's total liabilities as of June 30, 2023, were RMB 20,548,944 thousand, a decrease of RMB 3,067,258 thousand or 13.0% compared to the end of the previous year[79]. - The company's cash and cash equivalents stood at RMB 2,364,040 thousand, ensuring sufficient liquidity for business development[77]. - The company's inventory balance was RMB 182,221 thousand, primarily consisting of raw materials and products for manufacturing new mold systems[78]. Operational Efficiency - The company continues to focus on expanding its equipment leasing and engineering services, aiming to enhance its market presence and operational efficiency[19]. - The management highlighted ongoing investments in new technologies and product development to drive future growth and competitiveness in the market[19]. - The utilization rate of aerial work platforms improved to 73.5% in 2023, up from 64.9% in 2022, demonstrating enhanced operational efficiency[36]. - The group is leveraging digital and technological means to optimize logistics and supply chain costs, enhancing overall operational efficiency[28]. Market Trends and Growth Potential - The high-altitude operation platform market in China has significant growth potential due to low penetration rates compared to mature markets[23]. - The new support system market is expected to see increased penetration due to stricter government and industry requirements for construction projects[25]. - The new formwork system market is gaining traction, with over 40 provinces promoting the use of this system to enhance construction efficiency and safety[26]. Strategic Initiatives - The company plans to continue leveraging its multi-functional service model to further enhance customer engagement and operational performance[35]. - The company is committed to expanding its presence in Southeast Asia as part of its growth strategy[106]. - The company plans to enhance operational capabilities and asset efficiency through digital upgrades and management improvements[106]. Governance and Compliance - The board of directors includes key executives such as the CEO and CFO, ensuring strong leadership and governance[5]. - The audit committee, consisting of three members, reviewed the financial statements for the six months ending June 30, 2023[118]. - The company adhered to the corporate governance code as per the listing rules during the reporting period[115]. - The company's financial statements were prepared in accordance with Hong Kong Accounting Standards[121]. Shareholder Information - As of June 30, 2023, the company's directors and senior management hold a total of 5.52% and 0.95% of the shares, respectively[108]. - As of June 30, 2023, the total issued shares of the company were 3,197,244,000[114]. - Far East Horizon holds a beneficial interest of 2,293,050,000 shares, representing 71.72% of the total shares[113]. - The company did not declare an interim dividend for the six months ended June 30, 2023[119].