Far East Horizon (3360.HK): Takeaways: FY26E DPS Stable with Upside, Translating into >10% Div Yield

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Far East Horizon (3360.HK): Takeaways: FY26E DPS Stable with Upside, Translating into >10% Div Yield

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24 Jun 2026 05:35:48 ET │ 10 pages

Far East Horizon (3360.HK)

Takeaways: FY26E DPS Stable with Upside, Translating into >10% Div

Yield

CITI’S TAKE Buy

We hosted Far East Horizon (“FEH”) at Citi 2026 Financial and Property Price (24 Jun 26 16:10) HK$5.16

Conference, and we provide our key takeaways as below. Target price HK$8.60

Expected share price return 66.7%1H26E earnings likely to see modest growth; Full-year DPS at least stable with

potential upside – Mgmt expected to deliver modest earnings growth in 1H26E, with Expected dividend yield 10.5%

full-year DPS at lease stable with some potential upsides. Overall, the operating trend Expected total return 77.1%

year to date has been similar to that in 1Q26 and FY25. Mgmt attributed the recent Market Cap HK$24,856M

share price weakness mainly to fund flow movement rather than any change in US$3,170Mfundamentals. Mgmt believed the current share price has been severely undervalued

since the dividend yield would exceed 10%.

Michelle Ma, CFAACFinance lease business resilient with inclusive business on track – Mgmt expected

+852-2501-2723finance lease business to likely deliver modest increase in revenue and net profit in

michelle.ma@citi.com1H26E, driven by slight expansion of interest-earning asset scale and modest NIM

expansion. Mgmt noted that there were some decelerations in loan growth in public- Amy Jy Chen

oriented sectors such as healthcare and constructions, while private sectors and amy.jy.chen@citi.com

inclusive finance business have been tracking decent growth momentum. Mgmt

shared that its inclusive finance lease business would reach a scale of over Rmb30bn