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Far East Horizon Announced 2015 Annual Results

Source:FAR EAST HORIZON CreateTime:2016-04-13


Hong Kong, 30 March 2016, Far East Horizon Limited (“Far East Horizon” or “the Company”, Stock Code: 03360.HK), a leading financial services company in China, today announced its interim results for the year ended 31 December 2015 (the “Year”).


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In 2015, amidst slow macroeconomic growth, intensified competition in the financial market and downturn of industries, the Group continued to implement its strategic philosophy of integrating “finance and industry” and keep stable business growth subject to operation safety.


During the Year, the Company realized revenue of RMB11.80 billion, representing a year-on-year growth of 17.25%; Profit for the year reached RMB2.58 billion, representing an increase of 10.15%. Basic and diluted earnings per share were RMB0.70, same as last year. As of 31 December 2015, the total assets of the Company amounted to approximately RMB140 billion, up 25.82% from the beginning of 2015.


The Board recommends the payment of a final dividend of HK$0.23 per share in respect of the year ended 31 December 2015 to shareholders.


Mr. KONG Fanxing, Vice Chairman of the Board and Chief Executive Officer of Far East Horizon, said, “In 2015, China’s economy recorded a slower growth rate and the real economy sector remained in its restructuring. Facing challenges such as decreasing market demand and higher operational risk, Far East Horizon made proactive responding adjustments that, while securing steady growth in traditional financial leasing, we expanded our industrial operation businesses to develop new engines for business expansion. All our tasks were well performed to fulfil our commitments to all shareholders.”


Mr. KONG Fanxing concluded, “Looking forward, we will continue to adopt the innovative development model characterized by an “organic and effective combination of finance and industries” by optimizing the asset allocation for the traditional financial leasing industry and strengthening management of risks relating to assets to effectively safeguard assets security, while actively accelerating the expansion of our industrial operations. Our efforts in facilitating the organic combination of and effective interactions between our financing businesses and industrial operations businesses and in actively releasing their financial value will ultimately maximize shareholder value.”