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Public company info - Xingda International Holdings Ltd. , 01899.HK
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Xingda International Holdings Ltd., 01899.HK - Company Profile
Chairman Liu Jin Lan
Share Issued (share) 1,607,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Industrial Goods
Corporate Profile Business Summary: The Group is engaged in the manufacture and trading of radial tire cords, bead wires and other wires. Performance for the year: During the year under review, the Group’s revenue increased modestly by 0.3% to RMB7,583 million when compared with the preceding year. Profit attributable to owners of the Company amounted to RMB289 million, representing an increase of 9.5% year-on-year. Basic and diluted earnings per share were RMB19.09 fen and RMB18.99 fen respectively. Business Review During the year, the Group was able to lead its market coverage by capitalizing on its extensive business network, conducting in-depth analysis of radial tire cord market trends and setting practical operation approaches based on prevailing market conditions. In 2019, the Group recorded total sales volume of 818,300 tonnes, up 2.2% year-on-year. Sales volume of radial tire cords rose moderately by 1.5% year-on-year to 676,600 tonnes, making up 82.7% of the Group’s total sales volume (2018: 83.3%). Sales volume of bead wires and other wires also increased by 5.7% to 141,700 tonnes, and accounted for 17.3% of the Group’s total sales volume (2018: 16.7%). In terms of market segments, the sales volume of radial tire cords for trucks declined modestly by 3.2% to 426,100 tonnes against the corresponding period last year. A drop in sales volume of radial tire cords for trucks which was mainly due to a slight decline in domestic radial tire output. As for the sales volume of radial tire cords for passenger cars, an increase of 10.6% year-on-year to 250,500 tonnes was achieved, mainly due to the continuous rise in overseas orders. This is also a reflection of the widespread recognition that the Xingda brand enjoys from more overseas customers, as well as the confidence that they have owing to the Group’s high-quality products. During the year under review, the sales volume of the Group’s radial tire cords in China slightly increased by 0.7% to 501,400 tonnes (2018: 498,100 tonnes) under the overall stable market and orders. Thanks to the Group’s efforts in building its reputation and offering excellent products and services, sales of radial tire cords in overseas markets increased by 4.0% year-on-year to 175,200 tonnes (2018: 168,500 tonnes). Orders of related products from overseas markets including Thailand, Brazil, Germany, Slovakia etc also continued to grow steadily. Sales volume in domestic and overseas markets constituted 74.1% and 25.9%, respectively, of the Group’s total sales volume of radial tire cords (2018: 74.7% and 25.3%). As at 31 December 2019, the Group’s annual production capacity of radial tire cords rose to 730,500 tonnes, with Jiangsu and Shandong factories accounting for up to 627,000 tonnes and 103,500 tonnes respectively. The Group continued to implement its internationalization strategy and followed the development direction of the “Belt and Road” countries. It has completed plant construction in Thailand and started trial operation. The Thailand plant is expected to be capable of producing 70,000 tonnes of radial tire cords per annum in the second half of year 2020, allowing the Group to diversify geopolitical risks amid the Sino-US trade war. The annual production capacity of bead wires and other wires rose to 170,000 tonnes. Overall capacity utilization rate of the Group’s plants further increased to a high level of 91.4% (2018: 90.0%). To meet different needs and offer customized radial tire cords to customers, the Group has focused on product research and development and technology reforms. Currently, the Group provides a wide range of products, including 368 types of radial tire cords and 156 types of bead wires and other wires. Prospects: At the beginning of 2020, the COVID-19 coronavirus outbreak has rapidly spread across the country. In order to contain coronavirus outbreak, the Group responded the call by PRC government on the delay of work resumption after Chinese New Year holiday. Jiangsu Xingda plant and Shandong Xingda plant have resumed production in the second and third week of February, respectively. As of the date of this report, both factories operate on the normal level of productivity. The Group expects the epidemic situation will cause uncertainties in global economy but the Group has not been able to assess the financial impact in view of the changing circumstances. The Group will keep close monitoring on the possible impact of the epidemic on the financial position and operating results of the Group, and will make appropriate and feasible measures timely in response to the outbreak. Xingda will strive to grow stronger and capitalize on trends to move forward in the face of adversity. It will continue to adhere to its development principle of seeking progress while maintaining stability, accurately leverage market conditions, push ahead with its globalization strategy and maintain good cash flow and healthy financial structure, in a bid to respond to uncertainties and challenges in the market. In view of an acceleration in the internationalization of the tire industry in recent years and the upgrade of the consumer market, the industry has been bolstering production efficiency by increasing automation, informatization and use of smart technologies, as well as through investments in environmental protection. Xingda will keep abreast of developments pertaining to the downstream industry chain products and markets, expedite efforts on technological innovation, keeps on reducing production costs and production capacities utilization on a high level, continuously enhance the quality and output ratio of its products, and establish an overseas production base and marketing network. Furthermore, it will constantly explore new opportunities so that it is equipped to overcome change, as well as meet the demands of radial tire cord customers around the world. Xingda will do its utmost to further reinforce the Group’s leading positionally creating sustainable returns to all shareholders.

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