Far East Horizon Limited · HKEX:3360
Far East Horizon — FY2025 Earnings Presentation
41 slides from Far East Horizon's earnings presentation, March 2026
Slide 1: Far East Horizon Limited 2025 Annual Results
Far East Horizon Limited 2025 Annual Results March 2026
Slide 2: Disclaimer
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 the accuracy
Slide 3: Contents: Results Overview
Contents 1 Results Overview 2 Business Analysis 3
Slide 4: Financial business improved, with overall performance showing a slight increase
Financial business improved, with overall performance showing a slight increase • In 2025, facing external challenges, the company proactively adjusted its business strategy and accelerated the iteration of its new business ecosystem. Its overall performance was robust, with all business segments ac
Slide 5: The dividend base remained stable, steadily enhancing shareholder returns
The dividend base remained stable, steadily enhancing shareholder returns • Financial services segment served as a strategic ballast, effectively safeguarding overall performance and ensuring dividend stability. • Continuing its generous dividend policy, the Board has proposed a final dividend of HK
Slide 6: Financial services: traditional businesses evolve steadily while inclusive finance grows methodically
Financial services: traditional businesses evolve steadily while inclusive finance grows methodically • Consistently aligned with "Serving Industrial Upgrade & Urban Transformation" dual mandates, the Company leverage marketization, globalization, and specialization competencies to deliver comprehen
Slide 7: Financial services: traffic delivery has seen a steady increase, and asset scale has resumed growth
Financial services: traffic delivery has seen a steady increase, and asset scale has resumed growth • Traditional business operations have stabilized, and inclusive finance has expanded in an orderly manner. The overall net IEAs have increased to RMB 272 billion, representing a 4.38% growth from the
Slide 8: Financial services: asset quality showed steady improvement while maintaining prudent accounting policies
Financial services: asset quality showed steady improvement while maintaining prudent accounting policies • The balance of non-performing assets remained stable. Due to the rebound in the scale of IEAs, the non-performing asset ratio declined to 1.03% and the proportion of IEAs overdue for more than
Slide 9: Financial services: the overall return on assets remained stable, and financing costs continuously optimized
Financial services: the overall return on assets remained stable, and financing costs continuously optimized • The Net Interest Spread (NIS) was 4.39%, representing an increase of 0.39 percentage points compared with the same period last year. The Net Interest Margin (NIM) was 4.83%, representing a
Slide 10: Financial services: keep stable leverage and match the duration of assets and liabilities
Financial services: keep stable leverage and match the duration of assets and liabilities • With the conversion of convertible bonds increased shareholders' equity by approximately RMB 2.1 billion, the debt-to- asset ratio optimized to 83.75%, maintained a reasonable level while leaving room for gro
Slide 11: Financial services: inclusive finance achieves steady growth with increasing earnings contribution
Financial services: inclusive finance achieves steady growth with increasing earnings contribution • Inclusive finance is a sector of the Group specializing in financial leasing for SME customers. It focuses on deeply exploring the long-tail market of manufacturing industries in economically develop
Slide 12: Financial services: prudent and controllable asset quality with full write-off policy implementation
Financial services: prudent and controllable asset quality with full write-off policy implementation • Due to the characteristics of inclusive finance business, the non-performing loan generation rate and credit cost rate are higher than those of the overall financial business. The company classify
Slide 13: HCD: domestic business experienced pressure and decline, while overseas business contributed to growth
HCD: domestic business experienced pressure and decline, while overseas business contributed to growth • In 2025, HCD achieved revenue of RMB 9.36 billion and net profit of RMB 150 million. • Among them: (1) In the domestic market, HCD continued to proactively optimize its asset structure and reduce
Slide 14: HCD: The business foundation remained solid, and risk management and control have become more prudent
HCD: The business foundation remained solid, and risk management and control have become more prudent • Although domestic business has been impacted by the deep adjustment of the industry, the operating foundation remains solid thanks to the long-term accumulated advantages in scale, product categor
Slide 15: HCD: Domestic business still has potential, while overseas business has vast space for development
HCD: Domestic business still has potential, while overseas business has vast space for development • The domestic market remains substantial in size, and amidst the industry adjustment cycle, there is an even greater need for consolidators with high service quality. As a leading player in the domest
Slide 16: Horizon Healthcare: Although the performance has declined due to environmental factors, it still maintained a positive profit contribution
Horizon Healthcare: Although the performance has declined due to environmental factors, it still maintained a positive profit contribution • In 2025, Horizon Healthcare achieved revenue of RMB 3.57 billion and net profit of RMB 80 million. • Due to external environmental impacts, the performance dec
Slide 17: Horizon Healthcare: Maintain a stable business structure and actively expand diversified income sources
Horizon Healthcare: Maintain a stable business structure and actively expand diversified income sources • Thanks to the forward-looking medical operation model and regional layout, all hospitals have maintained normal operation, becoming a powerful supplement to local public medical resources. The n
Slide 18: Horizon Healthcare: Adhere to the differentiated medical service strategy and continuously enhance service capabilities
Horizon Healthcare: Adhere to the differentiated medical service strategy and continuously enhance service capabilities • Adhering to the mission of "Good healthcare doesn't need to travel far", Horizon Healthcare deeply aligns with China's healthcare policy direction, focusing on third, fourth, and
Slide 19: Performance Summary: High-quality growth in financial business, hedging against timing pressure in the industry
Performance Summary: High-quality growth in financial business, hedging against timing pressure in the industry • Facing macroeconomic challenges, the financial business, as the core pillar of the Company, has made breakthroughs in both traditional business and inclusive finance. The asset scale, in
Slide 20: Appendix: Condensed Balance Sheet
Appendix: Condensed Balance Sheet RMB'00 million 2025 2024 Change Total assets 3,709.61 3,603.90 2.93% Interest-earning assets 2,720.47 2,606.41 4.38% Including: Inclusive finance 281.79 172.48 63.38% Industrial assets 425.77 429.84 -0.95% Total liabilities 3,106.68 3,029.13 2.56% Interest-bearing l
Slide 21: Appendix: Condensed Income Statement
Appendix: Condensed Income Statement RMB'00 million 2025 2024 Change Total revenue 357.85 377.49 -5.20% Financial business* 226.76 217.06 4.47% Including: Inclusive finance 35.41 15.72 125.25% Industrial business* 132.84 161.81 -17.90% Profit before tax 80.32 80.21 0.14% Net profit attributable to o
Slide 22: Business Analysis
Contents 1 Results Overview 2 Business Analysis 22
Slide 23: Business Analysis Highlights
Business Analysis 1. Unique business model that transcends economic cycles Highlights 2. Prudent business strategy to achieve safe development 3. Steady operational results continue to create value for all parties 23
Slide 24: 1. Unique business model that transcends economic cycles
1. Unique business model that transcends economic cycles
Slide 25: The "finance + industry" business model has been validated over economic cycles
The "finance + industry" business model has been validated over economic cycles • Financial leasing business: Leading in the industry with net IEAs of RMB272.0 billion • Equipment operation business (HCD): China's leading equipment operation service provider, ranking among the top in the world, with
Slide 26: The scale of interest-bearing assets has grown steadily across cycles
The scale of interest-bearing assets has grown steadily across cycles, and the continuous iteration of the business ecosystem has been validated by performance The scale of interest-earning assets remains stable in the long term (RMB'00 million) 2,706 2,691 2,720 2,584 2,606 2,354 2,240 1,940 2,031
Slide 27: Excellent asset-liability management capabilities, with interest margin levels consistently maintained
Excellent asset-liability management capabilities, with interest margin levels consistently maintained over the long term NIS and NIM NIS NIM 4.67% 4.83% 4.58% 4.48% 4.39% 4.06% 3.94% 3.98% 4.00% 3.66% 3.83% 3.51% 3.21% 2.85% 2.48% 2.28% 2018 2019 2020 2021 2022 2023 2024 2025 27
Slide 28: Adhere to the "finance + industry" development strategy, and maintain a diversified financial structure
Adhere to the "finance + industry" development strategy, and maintain a diversified financial structure in the long run Historical segment revenue* and industry operation business revenue ratio (RMB'00 million) Financial Industrial 43% 39% 37% 34% 36% 30% 235 234 227 223 217 204 10% 162 3% 147 132 1
Slide 29: 2. Prudent business strategy to achieve safe development
2. Prudent business strategy to achieve safe development
Slide 30: Deeply cultivating the real economy industry, flexibly allocating resources
Deeply cultivating the real economy industry, flexibly allocating resources in accordance with the environment Industry distribution of IEAs 51.0% 43.6% 33.8% 16.1% 28.9% 29.9% 14.4% 14.6% 13.1% Urban 12.1% 11.1% 10.9% 11.9% Engineering 8.9% Culture & 8.0% public construction tourism utility Public
Slide 31: Nationwide layout with a focus on economically developed regions
Nationwide layout with a focus on selecting and prioritizing economically developed regions Regional distribution of IEAs Decrease Increase 50.15% 24.28% 15.28% 15.48% 13.19% 13.66% 10.52% 8.48% 10.14% 6.97% 7.62% 7.09% 7.82% 4.48% 2.79% 2.05% Northeast Southwest Northwest South China Sichuan and No
Slide 32: A prudent asset deployment strategy with asset safety proven through cyclical tests
A prudent asset deployment strategy with asset safety proven through cyclical tests Over 30 days ratio and NPL provision NPL has maintained stable for a long time since listing coverage ratio remained stable 246% 242% 1.86% 220% 228% 228% 218% 219% 1.29% 1.74% 1.73% 201% 1.67% 228% 1.50% 1.50% 1.08%
Slide 33: Reasonable matching of financial asset and financial liability maturity
Reasonable matching of financial asset and financial liability maturity and balance liquidity safety and efficiency Matching of financial asset and financial liabilities (RMB'00 million) Financial assets Financial liabilities 1,508 1,401 1,271 1,049 562 519 237 33 62 37 3 On demand Less than 3 month
Slide 34: Leverage has been maintained at a reasonable level in long term
Leverage has been maintained at a reasonable level in long term and risks have been well controlled, balancing risk control and future growth potential The leverage level of the Company and main financial leasing business entities Regulatory Control Line (8x) 6.62 6.33 6.15 6.11 5.59 5.21 5.15 4.58
Slide 35: BBB- credit rating confirmed by S&P and ESG rating maintained industry-leading
BBB- credit rating confirmed by S&P and ESG rating maintained industry-leading Credit rating maintain stable and S&P confirmed ESG rating are all in the forefront of BBB- long-term issuer rating with a stable outlook the domestic financial industry CSA rating score was 54 in 2025, ranks Global Ratin
Slide 36: 3. Steady operational results continue to create value for all parties
3. Steady operational results continue to create value for all parties
Slide 37: Long-term and stable management achieved excellent performance
Long-term and stable management achieved excellent performance The core management team has joined the Company Managed the Company to achieve long-term for more than 20 years outstanding performance From listed in 2011 to 2025, key metrics keep KONG Fanxing growing at high CAGR Stable Chairman of th
Slide 38: Operating with long-term safety and stability and continuously creating value for all stakeholders
Operating with long-term safety and stability and continuously creating value for all stakeholders Continuously creating value for shareholders, customers, creditors, government and employees • Corporate clients served Cumulative taxes paid Awards 50 Billion+ cumulatively 40,000+ Best Listed Leasing
Slide 39: Continuously improving shareholder returns through multiple initiatives
Continuously improving shareholder returns through multiple initiatives • Since its listing, the total cash dividend paid has reached HKD20 billion (including 2025 final dividend), exceeding the amount of public equity financing after the Company's IPO and listing. • The final dividend for 2025 is H
Slide 40: Q&A
Q&A 40
Slide 41: Contact us
Contact us Far East Horizon Company Website： www.fehorizon.com Contact of Investor Relations： ir@fehorizon.com Horizon Construction Development Horizon Healthcare 41