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Public company info - XiangXing International Holding Limited , 08157.HK

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XiangXing International Holding Limited, 08157.HK - Company Profile
Chairman Cheng Youguo
Share Issued (share) 1,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Marine & Harbour Services
Corporate Profile Business Summary: The principal activity of the Company is investment holding. Performance for the year: The Group’s revenue for the year ended 31 December 2018 was approximately RMB316,353,000, representing an increase of approximately 102.3% from the revenue for the year ended 31 December 2017 of approximately RMB156,382,000. For the year ended 31 December 2018, the Group’s profit for the year was approximately RMB26,894,000 (for the year ended 31 December 2017: approximately RMB10,559,000). Business Review: The past year was the first whole year since the listing of the shares of the Company on GEM of The Stock Exchange of Hong Kong Limited. 1)With the recognition and support from customers and the efforts of all colleagues, the Group’s operating performance has achieved a significant growth. The Group’s revenue increased approximately 102.3% to RMB316,353,000, and its profit for the year increased by approximately 154.7% to RMB26,894,000; 2)In order to enhance competitiveness and to provide professional and reliable services to customers, the Group has been enhancing and adding a number of production equipment while continuously optimizing various operational procedures. The Group has been highly recognized by customers and its market share has also been improved. 3) The Group continued to intensively cultivate the market and strive to expand its business scope. In 2018, the Group has already begun to achieve good results from the newly established automobile integrated services (tire and accessories sales), as well as the services in Shihu Port Area of Quanzhou Port, including logistics services (block stone transportation) and port services (tire crane operation service in the terminal). Prospects: With the changes in the market environment and the current market dynamics, the Directors believe that, the Group’s existing businesses will have the following trends in 2019: Intra-port related services: Yuanhai Port in Haicang Port Area, which the Group provides services, is a relatively new port in general. As the operation level of the port increases, the attractiveness of the route will continue to increase. In addition, Yuanhai Port plans to increase in its hardware and equipment to cater for the higher throughput which is expected to be higher than the average growth rate of Xiamen Port. However, due to the recent changes in the international trade environment, especially the trade friction between China and the United States may be upgraded, which will directly affect China’s foreign trade volume, and may negatively affect the port throughput. Since April 2018, the Group has started its intra-port and logistics services in Shihu Port Area of Quanzhou City, outside of Xiamen Port. The Group’s service quality has been recognised by the customers. On 20 August 2018, a public tender was conducted for the provision of block stone transportation service in Shihu Port Area. The Group won the first place in the overall bidding assessment from a total of six competitors. The formal award for appointment of service provision was received on 29 October 2018. Since late December 2018, the Group has established a subsidiary with Mr. Lu Jinyuan, namely Quanzhou Xiangxing International Logistics Service Co., Ltd, which is principally engaged in the provision of import out export agency services and container road freight forwarding services and currently focusing on the block stone transportation services in Shihu Port Area. In addition, the Group is also actively pursuing the business of Weitou Port Area in Quanzhou. In the future, the Group will focus on the services of Quanzhou Port Area and continuously expand the scope of services within the Group’s ports. Logistics related services: As the PRC government continues to strengthen the supervision of imported solid waste and limit the quantity of imported solid waste, it is expected that the amount of imported solid waste handled by the Group will decrease in the future to a certain extent compared with 2018, which in turn will have a negative impact to the Group’s container road freight forwarding business. The Group will continue to observe the market situation of imported solid waste and strive to expand other types of logistics services. Automobile integrated services: In light of the Group’s possession of large number of vehicles, the Group has established Xiamen Xiangxing Automobile Service Co., Ltd. to launch its automotive service business in February 2018. Currently, it mainly sells accessories and tires for heavy-duty vehicles, and intends to expand the automobile integrated services to cover services such as agency for vehicle insurance chains, repair and maintenance and other automotive integrated services in the long run. In the future, with further enrichment of facilities to support, the Group will continue to proactively develop its automotive integrated services business.

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