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Horizon Construction Development Insiders Placed Bullish Bets Worth CN¥6.03m
Founder Securities: Maintains a 'recommended' rating on Fe Horizon, with slight pressure on profits but stable interest spreads.
Founder Securities released a research report stating that it maintains a 'recommended' rating for fe horizon (03360), expecting the company's net income attributable to shareholders to be 4.94, 5.34, 5.71 billion yuan respectively in 2024-2026, with year-on-year changes of -20.2%, +8.0%, +7.0%. It believes that as a leading financing leasing company, high dividends can sustainably reward shareholders. It is reported that fe horizon disclosed the operating summary for the third quarter of 2024, with a slight decrease in revenue compared to 9M24, and the decline in net income is basically consistent with the mid-year (1H24 year-on-year -32%). Founder Securities' main points are as follows: Financial business steadily advancing, interest income.
Horizon Construction Development Sees Higher Nine-Month Revenue
Horizon CD (09930.HK) achieved year-on-year revenue growth in the first three quarters, with the number of global business outlets increasing to 563.
On October 21, 2024, Horizon CD (09930.HK) announced that since 2024, the group has adhered to a prudent development strategy, continuously consolidated its leading position in the domestic market, and accelerated the layout of overseas market business. During the nine-month period ending on September 30, 2024, the group's unaudited revenue achieved a year-on-year growth compared to the same period last year. As of the end of this review period, the group's global business network has increased to 563, with a platform management scale of over 214,800 units. The group continues to increase the expansion speed of overseas business, and by the end of this review period, it has already expanded to Southeast Asia, the Middle East, and 7 other regions.
HORIZON CONSTRUCTION DEVELOPMENT(09930.HK):BENEFITING FROM STRONGER SUPPORTIVE POLICIES DEMAND FOR CONSTRUCTION EQUIPMENT WILL INCREASE;"BUY"
Horizon CD (09930.HK): Benefiting from stronger supportive policies, demand for construction equipment will increase; recommend to buy.
We maintain a "buy" rating and lower the target price to HKD 2.35. We expect Horizon CD (the "Company")'s shareholder net profit for 2024-2026 to be RMB 0.81 billion, RMB 0.886 billion, and
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