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Zhixin Group Holding Limited, 02187.HK - Company Profile
Chairman	Ye Zhijie
Share Issued (share)	748,000,000
Par Currency	Hong Kong Dollar
Par Value	0.01
Industry	Construction Materials
Corporate Profile	Business Summary: Established in April 2007, the group are a manufacturer and supplier of concrete-based building materials in Xiamen, Fujian Province of the PRC. Performance for the year: For the three years ended 31 December 2019, the group’s Group recorded revenue of approximately RMB399.5 million, RMB511.3 million and RMB590.8 million, respectively, and profit for the year of approximately RMB12.2 million, RMB27.4 million and RMB41.8 million, respectively. Ourgross profit was approximately RMB39.7 million, RMB76.5 million and RMB114.4 million, respectively, representing a year-on-year growth of approximately 92.8% and 49.5%, respectively. Business Review The group’s principal products can be broadly categorised as (i) ready-mixed concrete; and (ii) precast concrete components (‘‘PC components’’). During the Track Record Period and up to the Latest Practicable Date, all of the group’s products were sold in the PRC with primary focus in Fujian Province. According to the Frost & Sullivan Report, the group’s production volume for ready-mixed concrete accounted for approximately 7.2% of market share in Xiamen in 2019. the group’s Group accounted for approximately 0.04% of market share in terms of approximately 1,034,000 m3 production volume in the commercial ready-mixed concrete market in the PRC for the same year. According to the Frost & Sullivan Report, the size of the PC component market in Fujian Province and Xiamen to the overall PRC market in 2019 is 3.0% and 0.5% in terms of total production volume and 3.6% and 0.5% in terms of sales value, respectively. As a midstream ready-mixed concrete and PC components manufacturer in the industry value chain, the group’s Group principally supplies the group’s products to construction companies for use in building and construction projects. With over 13 years of experience working with construction companies for various types of building and construction projects including (i) infrastructure, (ii) residential, (iii) commercial and industrial and (iv) municipal, the group have established sound reputation in the construction industry in Fujian Province. For a decade, the group were predominately a manufacturer of commercial concrete products. Embarking on the rapid development and urbanisation of Xiamen and leveraging on the group’s experienced management team, the group grew successfully from a humble batching plant to a major ready-mixed concrete supplier in Xiamen under the leadership and visionary of Mr. Ye, the group’s founder, chairman of the group’s Board and executive Director. In September 2014, in the wake of advancement and maturity of prefabricated construction techniques in western countries and its penetration rate in northern China, the group seized the opportunity and began the group’s capital investments into the production of PC components for prefabricated constructions by acquiring the land use right of a parcel of land that was later used for the construction of the group’s PC Plant and became amongst the first enterprises in Xiamen to expand into the PC component manufacturing industry. the group’s PC Plant was put into commercial operation gradually in the second half of 2017. The group’s currently owns and operates two production plants, namely the RMC Plant and PC Plant and leases one production workshop, namely the Jimei Workshop, in Xiamen, with a current aggregate annual production capacity of approximately 1,439,000 m3 of ready-mixed concrete and approximately 119,800 m3 of PC components. During the Track Record Period, the utilisation rate of the group’s RMC Plant was approximately 76.0%, 75.8%, 71.9% and 78.5%, respectively, while the utilisation rate of the group’s PC Plant was approximately 12.6%, 42.9%, 70.1% and 84.7%, respectively. As the group’s PC Plant was put into commercial operation gradually since the second half of 2017, the production scale was comparatively lower than the estimated production capacity and resulted in low utilisation rate. During the Track Record Period, the utilisation rate of the Jimei Workshop, which commenced production in October 2019, was nil, nil, approximately 28.6% and 61.2%, respectively. Prospects: The group have formulated the following business strategies to strengthen the group’s leading market position in Fujian Province and continue to expand the group’s scale of operations to achieve long-term sustainable business growth and increase the group’s market share in the fast-growing PC component industry: . Expansion of production capacity of PC components with greater production automation to achieve better production efficiency . Enhancing the group’s information technology system . Further improve the group’s environmental protection system . Truck fleet expansion and replacement strategy

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