Horizon Construction Development Limited reported that, as of 30 September 2025, its major domestic equipment categories maintained relatively high utilization rates. The utilization rate of aerial work platforms stood at approximately 80%.

During the first three quarters of 2025, total revenue declined by over 10% year-on-year. The decrease was primarily attributed to continued rental price declines for aerial work platforms under a domestic oversupply environment, alongside the Group’s proactive adjustment of its asset portfolio and scaling down of domestic operations. Profit attributable to ordinary shareholders for the first three quarters declined by over 70% year-on-year, though the rate of decline narrowed slightly compared to the first half of the year.

Overseas operations contributed more significantly to overall results, with revenue from overseas markets accounting for over 15% of total revenue and generating over 25% of total gross profit. Meanwhile, the Group continued to pace business expansion with risk management, expanding overseas asset management while optimizing its overseas portfolio.

Prudent control over new capital expenditures remained in place, and the Group worked to enhance the full life-cycle value of its assets across its domestic and overseas networks. Its financing cost rate continued to decline, and overall financial conditions remained stable. Against this backdrop, the Group aims to focus on preserving a sound, healthy financial structure in the face of changing market conditions, with the objective of achieving favorable returns for shareholders.

Management noted that these figures are derived from internal information and management accounts, which have not been reviewed or audited. Investors are advised to exercise caution when interpreting these preliminary figures.