Dafeng Equipment Services (2153.HK) is the first foreign-funded tower crane service provider established in China. The company recently announced its annual performance for the fiscal year ending March 31, 2024.
Mr. Qiu Guoshen, CEO of Dafeng Equipment Services Ltd., said: "In addition to providing low-cost financing of RMB 1 trillion for urban village renovation, affordable housing projects, and "plummeting and emergency use" projects, the central government of China has also introduced a series of favorable policies and plans to promote economic development. Measures such as lifting of home purchase restrictions, lowering down payment and mortgage rates will improve the real estate market activity. In addition, in the 14th Five-Year Plan, new infrastructure, traditional infrastructure, and energy transformation will become important tasks of the government, which will promote the overall development of the industry."
Mr. Huang Shanzhong, Chairman of Dafeng Equipment Services Ltd., summarized: "Although China's real estate market and construction industry are both in a downturn in this fiscal year, the group has rapidly adjusted its development strategy, including expanding into the clean energy construction field and expanding its geographical scope to the Greater Bay Area and Indonesia, to cope with the current difficult and ever-changing commercial environment. We will continue to focus on new technology research and development of tower cranes under the guidance of the core values of "honesty, safety, and excellence", making us have the strongest technical capabilities and provide excellent services to customers. We will continue to optimize business operations and digital management platforms to achieve the goal of resource sharing and cost reduction. Through these measures, we believe that we can achieve the group's century-old enterprise vision of "being the best construction equipment service provider"."
Let's learn about the company's specific performance for this fiscal year through the following image:
