Core Viewpoint - Far East Horizon reported a year-on-year increase in net profit attributable to shareholders for the first three quarters of 2025, indicating stable growth in its financial business despite challenges in its industrial operations [1][2]. Financial Business: Stable Growth - The company's interest margin continues to expand, with a net interest margin of 4.06% and a net interest yield of 4.51% for the first half of 2025, compared to 3.95% and 4.47% in the first half of 2024 [2]. - The scale of interest-earning assets reached 266.6 billion RMB in the first half of 2025, showing a slight increase of 2.30% compared to the end of 2024 [1]. - Inclusive finance business has shown significant growth, with interest-earning assets increasing by over 60% year-on-year, contributing to a doubling of revenue in the first three quarters [2][3]. Industrial Operations: Facing Challenges - The equipment operation segment, primarily represented by Hongxin Jianda, experienced a revenue decline of over 10% year-on-year in the first three quarters, attributed to a competitive domestic market and a strategic reduction in domestic business scale [1][2]. - The net profit for the equipment operation segment fell by over 70% year-on-year, although the decline has slightly narrowed compared to the first half of 2025 [2]. - The hospital operation segment remained stable, with a slight revenue decline but continued to maintain profitability [2]. Dividend Characteristics - The company emphasizes enhancing shareholder returns, with a projected dividend per share (DPS) of 0.25 HKD for the first half of 2025 and a payout ratio of approximately 50% [3]. - The estimated dividend yield for 2025 is around 8.0%, despite challenges in the industrial operations segment [3].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 9.00 [6][10]. Core Insights - The company's net profit attributable to shareholders increased year-on-year in the first three quarters of 2025, driven by stable financial operations and a significant growth in inclusive finance business, which saw a more than 60% increase in interest-earning asset scale [1][2]. - Despite challenges in the industrial operations segment, particularly in the equipment operation sector, the company emphasizes its commitment to enhancing shareholder returns, with an expected dividend yield of 8.0% for 2025 [1][4]. Financial Business Summary - The company's interest-earning asset net amount for the first half of 2025 was CNY 266.6 billion, reflecting a 2.3% increase compared to the end of 2024 [2]. - Inclusive finance business contributed significantly to revenue growth, with a doubling of income in the first three quarters [2]. - The net interest margin improved to 4.06% in the first half of 2025, up from 3.95% in the same period last year, indicating a positive trend in financial operations [2]. Industrial Operations Summary - The equipment operation segment, primarily under Hongxin Construction, experienced a revenue decline of over 10% year-on-year in the first three quarters, attributed to a competitive domestic market [3]. - The healthcare operation segment remained stable, with a slight revenue decline but continued to maintain profitability [3]. Dividend Characteristics - The company aims to enhance shareholder returns, with a dividend per share (DPS) of HKD 0.25 for the first half of 2025, translating to a payout ratio of approximately 50% [4]. - The projected dividend yield for 2025 is around 8.0%, despite the challenges faced in the industrial operations segment [4].

Core Viewpoint - Far East Horizon (03360) has adopted a prudent operational strategy since 2025, leading to a year-on-year increase in profit attributable to ordinary shareholders for the first three quarters ending September 30, 2025 [1] Financial Business - The financial business has shown steady growth, with revenue increasing year-on-year, leveraging the company's deep industry expertise [1] - The total amount of interest-earning assets at the end of the review period remained stable compared to the end of 2024, with improvements in both interest margins year-on-year and quarter-on-quarter [1] - Funding costs have decreased further, and asset quality remains solid, with non-performing asset balances largely stable and a prudent provision coverage maintained [1] - The inclusive finance business model has matured, progressing steadily under controllable risk conditions, with a cautious write-off strategy [1] - The scale of interest-earning assets in the inclusive finance business has grown by over 60% year-on-year, with revenue doubling year-on-year for the first three quarters ending September 30, 2025 [1] - The fair value of investment-related businesses has continued to recover positively [1] Hongxin Health - During the review period, Hongxin Health has adhered to its established strategic direction, maintaining overall stable operations, although revenue has decreased year-on-year while remaining profitable [1]

Group 1: Financial Performance - Far East Horizon (03360) reported a year-on-year increase in profit attributable to ordinary shareholders for the first three quarters ending September 30, 2025 [1] - Financial business revenue showed steady growth, with interest-earning assets remaining stable compared to the end of 2024, and both interest margins and funding costs improved [1] - The asset quality remained solid, with non-performing asset balances stable and prudent provision coverage maintained [1] Group 2: Business Development - The inclusive finance business model has matured, with a focus on steady advancement under controllable risk conditions, and a cautious write-off strategy [1] - The inclusive finance business's interest-earning asset scale grew by over 60% year-on-year, with revenue doubling for the first three quarters ending September 30, 2025 [1] - Investment-related business fair value continued to recover positively [1] Group 3: Health Sector Performance - Hongxin Health maintained its strategic direction with overall stable operations, although revenue experienced a year-on-year decline while remaining profitable [2]

Group 1 - The core viewpoint of the articles highlights that Far East Horizon (03360.HK) has maintained a prudent operational strategy since 2025, resulting in a year-on-year increase in profit attributable to ordinary shareholders for the first three quarters ending September 30, 2025 [1] - The financial business has shown steady growth, with income increasing year-on-year, and the total interest-earning assets remaining stable compared to the end of 2024. The interest margin has improved both year-on-year and quarter-on-quarter, while funding costs have decreased [1] - The asset quality remains solid, with non-performing asset balances stable and a prudent provision coverage maintained. The inclusive finance business model has matured, with a year-on-year growth of over 60% in interest-earning assets and a doubling of income for the first three quarters ending September 30, 2025 [1] Group 2 - The company continues to adhere to a prudent risk management strategy, with effective foreign exchange rate hedging measures and consistently strong liquidity [1] - Looking ahead, the company will persist in its "finance + industry" development strategy, aiming to safely advance its business and enhance shareholder returns while continuously creating value for shareholders [2]

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） 未經審核二零二五年第三季度營運概要 截至二零二五年九月三十日止 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」）截至二零二五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。 二零二五年以來，本集團秉承穩健審慎的經營策略，平穩推進各項業務，截至二 零二五年九月三十日止前三季度的歸屬普通股股東應佔溢利同比提升。 金融業務：持續發揮深耕產業的優勢，金融業務收入同比穩中有增。本回顧期末 的生息資產總額較二零二四年末持平微增，息差同比、環比均有提升，資金成本 進一步下降。資產質量依舊穩固，不良資產餘額基本保持穩定，撥備覆蓋維持審 慎 ...

Core Insights - Tianeng Holding Group's Chairman Zhang Tianren led a management team visit to Far East Horizon on October 10, where they engaged in in-depth discussions on green finance, global layout, and industrial innovation, culminating in the signing of a strategic cooperation framework agreement [1] Group 1 - The visit aimed to enhance collaboration in the field of green finance [1] - Discussions included strategies for global expansion and innovation within the industry [1] - A strategic cooperation framework agreement was signed to formalize the partnership [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 遠東宏信有限公司 | | | 呈交日期: | 2025年10月8日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 11 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03360 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 4,779,052,421 | | 0 | | 4,779,052,421 | | 增加 / 減少 (-) | | | 1,45 ...

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依 賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考之用，並不構成收購、購買或認購本公告所述證券的邀請或要約。 本公告並非亦不擬作為於美國或其他地方要約出售本公司（定義見下文）證券或招攬購買本公司 證券的要約。本公告所述證券概無及將不會根據經修訂的一九三三年美國證券法（「證券法」）或 美國任何州（定義見證券法S規例）或其他司法管轄權區的證券法登記，除根據證券法及適用州 或地方證券法的登記規定獲豁免或屬不受該等登記規定所規限的交易外，證券不可在美國境內 提呈發售或出售。本公告及其中所載資料不得直接或間接在或向美國派發。本公告所述證券不 可且將不會在美國提呈公開發售。 （於香港註冊成立的有限公司） （股份代號：3360） 調整於二零二六年到期250,000,000美元零息 有擔保可換股債券（股份代號：40722）的換股價 茲提述(i)遠東宏信有限公司（「本公司」）日期為二零二零年六月十八日、二零二零 年六月十九日及二零二零年七月八日內容有關由星 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 遠東宏信有限公司 | | | 呈交日期: | 2025年9月3日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 11 頁 v 1.1.1 (A). 股份期權（根據發行人的股份期權計劃） | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號(如上市) | | 03360 | 說明 | | | | | | | | | 股份期權計劃詳情 | | 上月底結存的股份期權數 目 | 本月內變動 | | 本月底結存的股份期權數 目 | 本月內因此發行的新股數 目 (A1) | 本月内因此自庫存轉讓的 庫存股份數目 (A2) ...