Summary by Moomoo AI
Chi Xin Group Holdings Limited (the “Company”) recorded revenues of approximately RMB512.8 million for the year ended 31 December 2013, a decrease of approximately 19.1% compared to the previous fiscal year. Gross profit increased to approximately RMB104.2 million from approximately RMB57.4 million in the previous fiscal year, an increase of approximately 81.5%. Profit for the year increased to approximately RMB10.1 million from approximately RMB1.3 million in the previous fiscal year, an increase of approximately 704.3%. The Group's main business includes the manufacture and sale of precast concrete, precast concrete components, and the recycling of iron ore tailings and the production of environmentally friendly bricks. The Group started selling iron ore tailings recycling products in May 2013 and entered into an agreement with a third party in September 2013 to provide processing services for iron ore tailings. At 31 December 2013, the Group had total assets of RMB1,352.2 million, total liabilities of RMB899.1 million and total equity of RMB453.1 million.