Horizon Construction Development Limited (the “Company”) (9930) issued a profit warning for the year ended 31 December 2025. According to preliminary figures, total revenue is projected to drop by nearly 20% compared to the 2024 figure of RMB11,581,062,000, while profit attributable to shareholders is expected to decrease by 70%-90% from approximately RMB896,322,000 in 2024.

The announcement cites three main reasons for the expected decline: continued downward pressure on domestic equipment rental prices, the ongoing strategic contraction of the material business in Mainland China, and reduced revenue and profit margin from trading services following fewer asset disposals and falling steel prices. The final results for 2025 are anticipated to be published on 10 March 2026, following the Board’s review and approval.

Shareholders and potential investors are advised to exercise caution when dealing in the Company’s shares.