Far East Horizon Ltd : Trading Update Announcement
02/16/2012| 02:08am US/Eastern
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Hong Kong Exchanges and Clearing Limited and The Stock
Exchange of Hong Kong Limited take no responsibility for the
contents of this announcement, make no representation as to
its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or
in reliance upon the whole or any part of the contents of
this announcement.
(Incorporated in Hong Kong with limited liability)
(Stock Code: 3360)
TRADING UPDATE ANNOUNCEMENT
This announcement is made pursuant to Rule 13.09(1) of the
Listing Rules.
The Board wishes to inform the shareholders of the Company
and potential investors that based on its preliminary review
of the unaudited consolidated management accounts for the
year ended 31 December 2011, the Company expects to record
strong growth in its operating results for the year ended 31
December 2011, with net lease receivables expected to grow by
more than 65% as of 31 December 2011 over the corresponding
figure as of 31 December 2010, while maintaining stable asset
quality. The net profit of the Company for the year ended
31
December 2011 is expected to increase by more than 55% over
that achieved in the year ended
31 December 2010.
WARNING: As the information contained in this announcement is
based solely on the preliminary assessment by the management
of the Company based on the unaudited consolidated management
accounts of the Group, which is unaudited and preliminary in
nature, Shareholders and potential investors of the Company
are strongly advised to exercise caution and obtain
independent professional advice when dealing in the shares
and securities of the Company.
This announcement is made by Far East Horizon Limited (the
"Company" and together with its subsidiaries, the "Group")
pursuant to Rule 13.09(1) of the Rules Governing the Listing
of Securities on The Stock Exchange of Hong Kong Limited (the
"Listing Rules").
After preliminary review by the management of the Company of
the unaudited consolidated management accounts of the Group
for the year ended 31 December 2011, the board (the "Board")
of directors of the Company (the "Directors") wishes to
inform the shareholders of the Company (the "Shareholders")
and potential investors that the Company expects to record
strong growth in its operating results for the year ended 31
December 2011, with net lease receivables expected to grow by
more than 65% as of 31 December 2011 over the corresponding
figure as of 31 December
2010, while maintaining stable asset quality. The net profit
of the Company for the year ended 31
December 2011 is expected to increase by more than 55% over
that achieved in the year ended
31 December 2010. The Company has achieved this growth by
proactively capturing the higher demand for financial leasing
services despite the changing macroeconomic environment, and
continuing to pursue its industry-focused strategy as well as
expanding its value-added services for clients. The Company
has continued to maintain stringent balance sheet management,
including expansion of its funding sources, and is committed
to maintaining prudent gearing ratios.
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Shareholders and potential investors of the Company should
note that the annual results of the Company for the year
ended 31 December 2011 are not yet available and the
information contained in this announcement is unaudited and
preliminary in nature. As the Company is still in the process
of finalizing its final results for the year ended 31
December 2011, the information contained in this announcement
is based solely on the preliminary assessment by the
management of the Company based on the unaudited consolidated
management accounts of the Group and the information
currently available to the Board for the year ended 31
December 2011, neither of which have been confirmed, reviewed
or audited by the Company's auditors nor reviewed by the
audit committee of the Company. The audited final results of
the Group for the year ended 31
December 2011, which are expected to be published in late
March 2012, may be different from what is disclosed in this
announcement.
WARNING: As the information contained in this announcement is
based solely on the preliminary assessment by the management
of the Company based on the unaudited consolidated management
accounts of the Group, which is unaudited and preliminary in
nature, Shareholders and potential investors of the Company
are strongly advised to exercise caution and obtain
independent professional advice when dealing in the shares
and securities of the Company.
By Order of the Board
Far East Horizon Limited
Mr. KONG Fanxing
Chief Executive Officer and Executive Director
Hong Kong, 16 February 2012
As at the date of this announcement, the executive directors
of the Company are Mr. KONG Fanxing and Mr. WANG Mingzhe, the
non-executive directors of the Company are Mr. LIU Deshu
(chairman), Mr. YANG Lin, Ms. SHI Dai, Mr. LIU Haifeng David
and Ms. SUN Xiaoning, and the independent non-executive
directors of the Company are Mr. HAN Xiaojing, Mr. LIU
Jialin, Mr. CAI Cunqiang and Mr. YIP Wai Ming.
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