Pudong Times: Far East Horizon Built "Financial + Industry" Model
Source: Pudong Times
Website: Far East Horizon Built "Financial + Industry" Model
Date: May 16, 2017
Pudong Times (Reporter Zhang Shuxian) Far East Horizon is heading toward globalization from "resource globalization and management localization" to "resource and management globalization", which relies on its "financial + industry" business model. Shang Bing, Vice President of Far East Horizon said in an interview, "the Company will start from finance leasing business, and explore a set of innovative financial services to serve the entire Chinese industry. The point of this business model is the 'financial + industry'.”
In 2011, Far East Horizon formally put forward the "financial + industry" development strategy. At present, the Company has gradually transited from a single financial service into a new stage of a superimposed development between financial business and industrial business. Under the guidance of the "financial + industry" strategy, from the financial perspective, in addition to traditional financial leasing, Far East Horizon has gradually extended to investment banking business, capital management business, industrial investment and other fields.
It is reported that different from banking business which is divided by region, Far East Horizon divides its financial business by industrial layout. To date, Far East Horizon has set up nine major industrial divisions, including medical health, education, construction, transportation, electronic information, industrial equipment, urban public facilities, large agriculture, light industry and textile. Far East Horizon has invested more than 500 billion yuan in the nine basic industries to help more than 15,000 entities with their financing problems. It has covered all the provinces outside of Tibet, effectively supporting the real economic development and industrial upgrading. "Far East Horizon has turned its funds into a corporate customer press, a customer cargo ship, and a customer plant, etc." Shang Bing added.
From the industrial perspective, Far East Horizon has initially built three industrial groups, respectively, a hospital operating group consisting of 22 hospitals with a nationwide coverage equipped with 8,000 beds, striving to control more than 10,000 by the end of this year, a K12 education group that spans China, the UK and the United States, covering high-end international secondary, primary and kindergarten education, among which there will be more than 10-15 kindergartens open this year and at least six in Shanghai, and a construction group providing high-end construction equipment management services, for which its two high-end construction equipment management companies have gradually expanded to Southeast Asia and other countries, actively supporting overseas infrastructure construction.
Data show that Far East Horizon went public on the Main Board of Hong Kong Stock Exchange in 2011, became the first Chinese innovative financial company specializing in financial leasing in Hong Kong Stock Exchange. It has two major legal platforms, respectively, Far East International Lease and Far East Horizon Tianjin Company. At present, Far East Horizon manages a total asset of over 200 billion yuan, with an annual capital delivery capacity of more than 100 billion yuan.