omniture

Heng Xin China To Reap Benefits from New Business Model

Heng Xin China Holdings Limited
2009-08-31 19:44 1634

Positive Profit Expected from Significant Turnaround in Performance

HONG KONG, Aug. 31 /PRNewswire-Asia/ -- Heng Xin China Holdings Limited (HKEx: 8046, the "Company" or "Heng Xin China") issued an announcement for positive profit alert today. Based on information currently available, the Company is expected to record a significant audited consolidated net profit for the year ended June 30th, 2009 compared to the net loss of HK$15.8 million recorded for the year ended June 30th, 2008.

Mr. Xiao Yan, Chief Executive Officer of the Company, commented, "The significant turnaround in the performance of the Company is mainly attributable to the successful implementation of newly acquired businesses of information technology-related products since September 2008, as the mobile TV project in Hunan also makes significant revenue contribution. Whilst these new projects generally enjoy higher profit margins, impairment loss on fair value changes of the Group's securities investment has also narrowed during the review period."

About the Company

Heng Xin China Holdings Limited is principally engaged in the research, design, development on and manufacturing of electronic message security products, integrated circuits, radio frequency identification ("RFID") chips and related devices and systems, and the integrated circuit solutions and related services.

For media inquiries, please contact:

Stimulus Investor Relations Ltd.

Alex Wong / Karen Lau

Tel: +852-6899-0255 / +852-9311-1791

Email: alex@stimulus-ir.com / karen@stimulus-ir.com

Source: Heng Xin China Holdings Limited
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