Note: Unless otherwise specified, all monetary amounts stated herein are denominated in RMB and the data herein is as of 31 December 2025 2 Contents 1 Results Overview Far East Horizon Limited 2025 Annual Results March 2026 Disclaimer This material is prepared by Far East Horizon Limited (the "Company") and has not been independently audited. This document contains confidential and proprietary information, and its contents have not been verified by an independent third party. The Company does not guarantee ...

Group 1 - The core viewpoint of the article highlights the competitive landscape and market concentration of the Chinese financing leasing industry, indicating a low market concentration with significant opportunities for growth [12][18]. - The leading companies in the financing leasing sector include Jiangsu Jinzhong, Guoyin Jinzhong, Bohai Leasing, and Far East Horizon, with varying registered capital and market strategies [1][14]. - The market share of the top three companies (CR3) is approximately 9%, while the top five (CR5) and top ten (CR10) account for 13% and 23% respectively, indicating a fragmented market [12][18]. Group 2 - In terms of registered capital, the top financial leasing companies include ICBC Financial Leasing with 18 billion yuan, and Tianjin Bohai Leasing leading domestic commercial leasing with 22.101 billion yuan [3][5]. - The financing leasing market in China is projected to exceed 3 trillion yuan in 2024, with major players like Far East Horizon and China Merchants Jinzhong leading in terms of investment scale [8][14]. - The competitive dynamics of the financing leasing industry are characterized by high competition, low growth rates for new business, and significant bargaining power from upstream equipment suppliers [18]. Group 3 - The performance of listed companies in the financing leasing sector shows strong revenue growth and diversified business strategies, particularly in sectors like renewable energy, infrastructure, and healthcare [14][16]. - For instance, Guoyin Jinzhong is expected to achieve a leasing business revenue of 120.92 billion yuan in 2024, with a net profit margin of 15.88% [16]. - Far East Horizon anticipates a leasing business revenue of 332.38 billion yuan, focusing on healthcare and urban investment, with a net profit margin of 11.97% [16].