Xingda International Holdings ( (XNGIF) ) has released its Q4 earnings. Here is a breakdown of the information Xingda International Holdings presented to its investors.
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Xingda International Holdings Limited, a Cayman Islands-incorporated company, is a leading manufacturer and trader of radial tire cords, bead wires, and other wires, primarily serving the automotive industry. The company is listed on the Hong Kong Stock Exchange and operates mainly in China and Thailand.
In its latest earnings report for the year ending December 31, 2024, Xingda International Holdings reported a revenue increase of 3.9% year-on-year, reaching RMB11,940.4 million. However, the company’s profit attributable to owners fell by 40.1% to RMB269.0 million, with a significant drop in basic earnings per share from RMB27.07 cents to RMB14.23 cents. The company did not propose a final dividend for the year.
Key financial highlights include a slight decrease in gross profit margin to 18.4% from 19.2% in the previous year, and a notable increase in distribution and selling expenses by 35.6%, attributed to higher transportation costs. The company’s net profit decreased by 39.2% to RMB387.8 million, reflecting challenges in maintaining profitability amidst rising competition and costs.
Looking forward, Xingda’s management remains focused on expanding production capacity and enhancing product development to meet market demands. Despite the challenges, the company’s strategic investments in Thailand and ongoing R&D efforts aim to bolster its competitive edge in the global market.