On February 2, Fehorizon’s 2023 year-end working conference of key positions was convened in Shanghai. Chairman of the Board of Directors, Executive Director and CEO of Fehorizon Kong Fanxing attended the conference and made a summary speech. Executive Director and CFO Wang Mingzhe of Fehorizon presented the Budget Implementation and Performance Analysis Report, and Vice President of Fehorizon and General Manager of Strategy Center Xu Huibin delivered the Environmental Analysis and Strategic Upgrade Report. The conference was also attended by over 240 managerial personal including company leaders and employees of various business and functional directions on site or through video.

Business Maintained Stable

Advantages of “Internationalization, Marketization and Specialization” and “Dual Services” Emerged

In the financial report, Fehorizon’s Executive Director and CFO Wang Mingzhe summarized and analyzed the operating conditions of last year from various business directions. In 2023 on the whole, the Company has kept pushing forward its strategies, carried on its system adjustment continuously, maintained its asset quality safety controllable and its business formation effective, and strived to realize profit growth. All of these are attributable to the joint efforts of the staff of Fehorizon, and more importantly the Company’s model-driven logic in pace with the environment, the improvement of its business vitality as a result of enhanced marketization mechanism as well as the foundation laid by the “finance + industry” strategy.

△ Executive Director and CFO Wang Mingzhe of Fehorizon delivered the Budget Implementation and Performance Analysis Report

Specifically, in traditional business, under the guidance of “internationalization, marketization and specialization” and “dual services,” Fehorizon actively adjusted its operating status and gradually implemented its model upgrade in various aspects; thus, the basis of the Company’s business has withstood the test, and its asset structure and profit scale have remained stable.

In new business, its inclusive finance operating system has achieved terraced growth through effective drilling in practice; Fehorizon AMC has formed a systematic synergy to serve cities; by giving play to the vanguard role of its Hong Kong-based cross-border business as a strategic strongpoint at the new stage, domestic and overseas resources have been integrated to drive the development of the Group’s business.

In industry business, the success listing of CDHORIZON has strengthened the overall defensive ability of the Group, reinforced the security of the rights and interests of Fehorizon the parent company, and expanded the space for its own development. HCHORIZON has created a new platform of healthcare services, and initiated capitalization while improving its operating performance to promote the long-term strategy of the Company.

It was pointed out in the report that the Company will prioritize stability in 2024 by optimizing its asset structure, improving its operating efficiency and increasing its profitability steadily. The awareness of independent management will be established in all directions, and all budget subjects will adopt total cost and benefit accounting, measure the input and output comprehensively, and speed up for breakthrough and increment under the premise of guaranteed safety.

Further Evolution of Comprehensive Business Formation

New Breakthrough in Strategic Upgrade

In the strategic report, Vice President of Fehorizon and General Manager of Strategy Center Xu Huibin reviewed the history of the Company’s development in pace with the environment, and clarified the future development direction for each business section. The report pointed out that the external environment has entered the new era of high-quality development. As a model-driven enterprise, Fehorizon should have a good grasp of the environment, begin the iterative and evolutionary process in time, and give full play to the strategic guidance of “internationalization, marketization and specialization” and “dual services,” so as to stimulate vitality and create new incremental value for various parties.

△ Vice President of Fehorizon and General Manager of Strategy Center Xu Huibin delivered the Environmental Analysis and Strategic Upgrade Report

In 2024, the Company will continue to keep the strategy of “internationalization, marketization and specialization” and “dual services” at the core for all directions, fully integrate resources from all sides (domestic & overseas, B end & C end, finance & industry, cities & enterprises), and strive to achieve new breakthroughs during its development.

Comprehensive Upgrade of Traditional Business

With measures including a flat and flexible organization, opening up regional “fences” and liberating market resources, the marketization mechanism will be further strengthened to boost productivity in an all-round way. Serving urban upgrade should continue to focus on key areas and empathize innovation and exploration; serving industrial upgrade should upgrade to the new “workshop” mode, exploit the differentiation advantages of “dual services” and fully excavate potential demands.

Remodeling of New Business Formation

Inclusive finance should optimize asset allocation and keep perfecting the operating model; Fehorizon AMC should accelerate asset integration and system construction, and improve the ability to serve urban upgrade systematically; overseas business should give play to the role of Hong Kong as a window and a bridge, explore new ways of domestic and overseas integration, and establish advantages with Fehorizon characteristics; factoring business should reinforce the expansion of supply chain finance and realize tremendous improvement of services; private equity should strengthen the construction of investment ability, and continue to seek investment opportunities of high growth potentiality in niche areas of the new era.

Upgrade of Industry Operation Mode

CDHORIZON will speed up its transformation towards an “operation-driven” enterprise, carry forward the “3+3+3” globalization strategy, strengthen the improvement of efficiency, and consolidate its industry status. With focus on traditional healthcare services, HCHORIZON will continue to expand the frontiers of operation, and accelerate capitalization in various aspects. In the direction of education, it will further enhance the brand value of Fehorizon, and contribute to the “dual services” strategy.

Fully Implementing “Internationalization, Marketization and Specialization” and “Dual Services”

Planning for Future Development

In the afternoon, various company leaders reported on their respective work with focus on the implementation of the strategy of “internationalization, marketization and specialization” and “dual services,” to summarize successful experience, look for and analyze inadequacies, and plan for future development.

The attending leaders expressed that, the challenges of an unprecedented external environment have left the people of Fehorizon no space for illusions or flukes, so we must grasp the strategic opportunity of internationalization, marketization and specialization” and “dual services,” improve the depth and density of client services, and spare no effort in surviving and seeking development.

CEO Kong Fanxing:

Striving Ahead with a Unified Will; Fighting Separately as Independent Armies

At the end of the conference, Chairman of the Board of Directors, Executive Director and CEO of Fehorizon Kong Fanxing made a summative speech. First of all, CEO Kong first paid great respect and expressed sincere thanks to the people of Fehorizon fighting at various battlefronts, regions and positions across China on behalf of Far East Horizon’s Board of Directors and managerial staff.  

According to CEO Kong, in 2023, the entire staff of Fehorizon carried on the Far East spirt of unflinching courage in the face of all hardships and perils, and the achievements did not come easily; however, the journey ahead is not without difficulties and obstacles, so we must maintain the fighting spirit and a high moral. Later, with a few groups of keywords, CEO Kong summarized the past and put forward the major tasks for 2024.

△ Chairman of the Board of Directors, Executive Director and CEO of Fehorizon Kong Fanxing made a speech

Breaking the Deadlock with Strategic Upgrade

Over the past year, the Company was challenged greatly in aspects including business promotion, capital improvement and asset quality maintenance. Nevertheless, through timely adjustment of its operation strategy, it successfully broke the deadlock under the strategic guidance of “internationalization, marketization and specialization” and “dual services.” The successful listing of CDHORIZON also acted as a tremendous stimulant for the Company and improved its capital structure considerably. Eventually, Fehorizon realized profit growth with hard efforts in 2023.

Striving Ahead with a Unified Will

While laying out the work tasks for 2024, CEO Kong encouraged the people of Fehorizon to respond to the complex environment with positive efforts and struggle to survive by doing everything we can and maximize our talent in limited space. He called on the people of Fehorizon to form an impregnable stronghold with a unified will: “There is no room or excuse for us to fall back, as we shoulder the expectations of family and clients, and we want to be excellent and extraordinary miracle creators.”

Fighting Separately as Independent Armies

CEO Kong requested that each business unit and budget subject undertake complete responsibilities for operation. In particular, departments of traditional business should bid farewell to the old-fashioned way of regarding marketing units as an add-on to the headquarters, and upgrade to an “independent army” and give full play to the marketization mechanism, to expand territory independently, ensure survival, settle down and branch out.

Concentrating the Mind and Gathering Strength to Fight Together

Facing the complicated external environment, CEO Kong proposed the following reequipments for the staff of Fehorizon: on the one hand, concentrate the mind and gather strength to maintain the “rational thinking and independent personality” that are required for the people of Fehorizon, eliminate external interference, stick to the bottom line of law, and preserve public order and good morals; on the other hand, change the mindset of “unlimited resources” and “take harvest as seeds rather than food”—regardless of department, section or position, each and every one must exert all energies and fight well.

However difficult the future path may seem, the challenges will be overcome with our firm strides. In the end, CEO Kong urged the people of Fehorizon to comprehensively implement the strategic upgrade of “internationalization, marketization and specialization” and “dual services.” Let’s stay in good spirit, build up confidence and start over, to forge ahead towards the goal of “building an excellent enterprise.”