International Far Eastern Leasing Co., Ltd., the predecessor of Far East Horizon Ltd., was officially established after receiving approval from China’s Ministry of Foreign Trade and Economic Cooperation. The company thus began its initial exploration of the financial leasing sphere as a pioneer of China’s leasing industry.
June The company moved south to Shanghai, beginning a brand new chapter in its development.
December The Healthcare Business Unit was established. This set the company on a course where the company’s foundational structure and strategic expansion would be based on business units. Far East Horizon went on to create 8 business units, including Packaging, Infrastructure Construction, Education and Machinery, etc., that cover many basic industry areas in the civil economy.
October The opening of the Changsha office. Offices have been opened in 14 cities to date across China, including Shenzhen, Beijing, Chengdu, Wuhan, Changsha, Shenyang, Jinan, Harbin, Xiamen and Hefei, etc., following the expansion of business activities nationwide.
December The Printing Business Unit was established (now the Packaging Business Unit), and began market development in the printing, packaging and paper industries.
April The company’s first subsidiary, Shanghai Donghong Co., Ltd., was established, and began exploration of other business areas outside of the financial leasing sphere.
May The first asset-backed security was listed on a domestic exchange. Following continued exploration and innovation of diversified financial products, Far East Horizon now offers syndicated [loans], domestic medium-term notes, foreign bonds and other diversified financial products. Guided by a globalized finance strategy, our products have reached multiple markets, including Hong Kong, Japan, Singapore and Taiwan. Many of these initiatives have been innovations in the financial leasing industry.
June Signed a RMB 100 million financial cooperation project with the Shanghai branch of the China Development Bank, marking the first time that the company engaged in credit cooperation with a national policy-oriented bank. The company has since established strategic relationships with several state-owned banks, including Bank of Communications, China Construction Bank, Industrial and Commercial Bank of China, Bank of Shanghai and Shanghai Pudong Development Bank.
December The Shipping Business Unit (now the Transportation Business Unit), Infrastructure Construction Business Unit and Business Development Department (Now Business Development Unit One) were established, beginning strategic expansion in the transportation and infrastructure construction industries.
June The Education and Machinery Business Units were established, beginning strategic expansion in the areas of education and machinery.
September Far East Horizon was formally established following strategic capital injection from KKR, GIC SI and CICC. International Far Eastern Leasing Co., Ltd. became a wholly-owned subsidiary of Far East Horizon, and has developed into a2 dominant player in China’s financial leasing industry.
March The subsidiary Shanghai Domin Medical Engineering Co., Ltd. was established, and began its move into the medical technology business.
March Far East Horizon was officially listed on the Hong Kong Stock Exchange (Stock code 03360.HK), becoming the first company with financial leasing as its core business to go public in Hong Kong.
July Our subsidiary Shanghai Horizon Equipment & Engineering Co., Ltd. was established, and has since become a major player in the road equipment and high altitude operational leasing industry.
November The Textile Business Unit was established and began its strategic expansion in the textile industry.
June Following approval by the Ministry of Commerce, the company was granted approval to establish “Commercial Factoring and Related Consulting Services”.
October Far East Horizon Shipping Consulting Ltd. was established, beginning its strategic move into the shipping consulting business.
December The Electronic Information Business Unit was established, beginning strategic expansion in the electronic, radio and television and information industries.
June Established Horizon Healthcare Management (Shanghai) Co., Ltd. through cooperation with Taiwan’s Changhua Christian Hospital, and began our move into the medical consulting business.
October The Business Development Unit Two was officially established, whose efforts are devoted to exploring, nurturing and developing the non-financial leasing side of our business, as well as developing sustainable new business areas, new products and new business models.
December Far East Horizon’s subsidiary Horizon Healthcare Management (Shanghai) Co., Ltd. signed an investment agreement with Huakang Orthopedics Hospital, which inaugurated a new chapter in the business plan of Horizon Healthcare Management.
January Far East Horizon Ltd obtained a long-term issuer credit rating of “BBB-“ and a short-term issuer credit rating of “A-3” from the Standard & Poors rating service agency.
February Far East Horizon (Tianjin) Financial Leasing Co., Ltd. was officially established and began operations.
January The Healthcare Business Unit officially changed its name to the Healthcare Group.
March The Public Utility Business Unit was established.
June The Far East Horizon successfully completed the issuance of new share of HK$4.5 billion.
December The Infrastructure Construction Business Unit officially changed its name to the Infrastructure Construction Group;The Education Business Unit officially changed its name to the Education Group.