Tat Fung Equipment Service (2153.HK), the first foreign-funded tower crane service provider established in China, announced its interim results for the six months ended September 30, 2023 (the “period”).
Mr. Yau Kwok-sun, CEO of Tat Fung Equipment Service Co., Ltd.He said, “As the central government provides at least 1 trillion yuan of low-cost financing for urban village renovation, guaranteed housing projects, and the three major 'safe and emergency dual-use' projects across the country, domestic demand (housing) is expected to increase, thus boosting the real estate and infrastructure markets. Coinciding with the 10th anniversary of the “Belt and Road” initiative, demand for overall infrastructure projects, including traditional infrastructure, new infrastructure, and energy projects, has greatly increased. The Group will adjust its operations and geographical strategies in due course to respond to the rapidly changing global market environment.”
Mr. Huang Shanzhong, Chairman of Tat Fung Equipment Service Co., LtdSummary: “Although the market is gradually recovering, there is still a lot of uncertainty about overall market trends. However, the Group has adjusted its operating strategy in due course to cope with the complex and changing environment. As a well-known tower crane service provider in the industry, Dafeng is currently one of few domestic enterprises that can “go global”, proving that the Group has strong strength and position in the Chinese construction industry, and maintains a stable, reputable and loyal customer base. We expect that in the future, the Group will continue to explore more Asian markets and increase its market share. Guided by the core values of 'virtue, safety and excellence', the Group will continue to improve and focus on the strategic goals of sustainable development. By improving data management, we are able to actively develop international business while sharing resources, reducing costs, and improving efficiency. Such measures can not only improve operational efficiency, but also help the Group achieve its goal of becoming the 'best construction equipment service supplier' in the industry.”
Let's take a look at a chart to understand the details of the company's current performance: