Sinochem is the largest shareholder of the Hong Kong listed company Far East Horizon Co., Ltd. (hereinafter as ‘Far East Horizon’). Far East Horizon follows the business philosophy of ‘Finance plus Industry’, and supplies clients with diversified and comprehensive industrial operation services by dint of ingenuity for its products and services. It has become the forerunner in China’s innovative financial service sector.
Far East Horizon firmly takes root in China’s basic industries. In such areas as medical care, packaging, transportation, construction, industrial equipment, education, textile, electronic information and public utilities, Far East Horizon stays focused on the needs of the clients, and engages in financial services, industrial investment and operation, business leasing, trading brokerage, management consulting, engineering service and other industrial operation services, cultivating the strength in matching financial resources with industrial development, and boosting finance and industry together.
In 2014, Far East Horizon made new progresses in opening up sub-sectors up and down the industry chain. Our business in the sectors of public transportation, utilities and energy saving grew fairly fast. With business expanding, we strengthened innovation and unveiled new financial products. We actively explored new patterns of fund business, and our factoring business grew substantially. The "brick-and-mortar" financial platforms of hospital management, hospital investment and operating leasing maintained momentum, forming efficient synergy with traditional financial businesses.
In 2014, Far East Horizon’s interest-bearing assets reached 100.8 billion yuan, a year-on-year increase of about 25%; equity capital was 17.45 billion yuan. We continued to maintain the leading position in the China’s financial leasing industry.