Horizon considers expansion in Central Asia and Africa

China’s Horizon Construction Development (CDHorizon) said it will continue to expand its MEWP rental operations outside China and is investigating markets in Africa and Central Asia to add to its existing operations in South East Asia, the Middle East and Turkey.

The company’s business outside China now represents 15% of total revenues, and grew from RMB389 million (€49 million) in 2024 to RMB1.4 billion (€176 million) in the year to 31 December 2025.

It has 77 rental locations and 1,400 staff in Turkey, Saudi Arabia, United Arab Emirates, Thailand, Vietnam, Malaysia and Indonesia.

Horizon Construction Development has a MEWP rental fleet of more than 200,000 units.

The company continued to adjust its business to lower demand in China.

It’s total MEWP rental fleet at the end of 2025 stood at 200,700 units, down on the 216,000 machines it had at the end of 2024.

The size of its scaffolding and formwork fleet has also been reduced from 2.14 million tonnes at the end of 2024 to 1.88 million tonnes.

It has reduced its depot network in China from 528 outlets at the end of 2024 to around 485 now.

Revenues down 20%

Overall revenues were down almost 20% from RMB11.6 billion (€1.46 billion) in 2024 to RMB9.36 billion (€1.18 billion). Rental revenues were 12.3% higher at RMB5.2 billion (€650 million), while its engineering services division – which includes formwork services – were 41.5% lower at RMB2.19 billion (€280 million).

Its asset management division, which manages equipment owned by third-parties and sells used rental fleet, also saw a big drop, by 38.5% to RMB1.97 billion (€250 million).

CDHorizon said its net profit for the year was approximately RMB147 million (€18.5 million).

Zhan Jing, CDHorizon’s CEO’s, said in the company’s annual report; “During the year the Group strengthened its Southeast Asian position through the acquisition of Dongqing in Malaysia, while further expanding Middle East operations.

“The Group is also cautiously exploring potential markets in Africa and Central Asia.”