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Xinyinhai Technology Ltd. (XNYH)

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Last Post: 10/7/2016 3:58:43 PM - Followers: 18 - Board type: Free - Posts Today: 0


      Xinyinhai Technology Ltd.   


Xinyinhai Technology Ltd.
No.16 Dalian Road
Haping Road Centralized Park Harbin Development Zone
Harbin City,150060
People's Republic of China
Phone: +86 451 86811118
Investor Relations

Stuart Smith
Ph: (512) 267-2430

Common stock
No. of shares
Common stock at USD0.001 par value
    40,000,000     $ 40,000  
Issued and outstanding:-
As of June 30, 2011 and December 31, 2010
    19,484,029     $ 19,484  


***********************         Financials : June 30th 2011 >>

Xinyinhai Technology (XNYH) ready for a comeback ???

Results of Operations
The recent global recession reduced demand for capital goods in China.  Since late 2008, this situation has had a negative impact on both of our business segments.  During the first half of 2011 (i.e. the six months ended June 30, 2011), the effect of the recession was most dramatic in our equipment distribution business, where revenues declined by 39% to $152,568 from the already low revenue level of $249,971 in the first six months of 2010.  Revenue in the first six months of 2010 was, in turn, 67% lower than in the first half of 2009.  This two year slide in equipment distribution reflects two factors.  First, there have been delays in the construction of new manufacturing facilities in China, as potential customers wait to see whether demand for their products is revived.  In addition, however, our designated market has been reduced by the equipment manufacturer from the entirety of northeast China to Heilongjiang Province alone.  These factors spurred a decline in sales that reversed a surge in equipment sales that we had experienced in 2008, and reduced this business segment to a 4% contribution to our overall revenue during the first half of 2011.  The future of this business segment will depend, in part, on the success of the economic stimulus initiated by the Government of China.  However, our expectation is that equipment sales revenue will stay at the current level for the forseeable future.
Revenue from our printing business also declined, albeit not so precipitously.  Printing revenue fell by 4% from $3,813,388 in the first six months of 2010 to $3,651,426 in the first six months of 2011, although printing revenue increased in the second quarter by 1% from $1,786,178 to $1,811,549.  The printing segment of our business had declined significantly in 2008 and 2009, in part due to the weakening of the Chinese banking industry, as many of our customers were conserving cash pending stabilization of the international credit markets.  Although we experienced a modest recovery in 2010, we have not yet been able to recapture the market position we occupied in 2007.
The modest changes in our revenue were accompanied by a much more significant reduction in the profitability of the sales.  Sales in the first half of 2011 generated only 20.9% gross margin and sales in the second quarter generated 26.5%, both being far below our target margin of 45%.  In contrast, sales in the first half of 2010 generated 36.9% gross margin and sales in the second quarter of 2010 generated 36.9% gross margin.  The 2011 gross margin was adversely affected by the decline of our equipment business, which lost more than $1.60 for every dollar of sales.  However, margins from our printing business also remained far lower than optimal.  Our business plan contemplates that gross margin from printing services will average approximately 45%, albeit within a range of 35% to 50%, depending on the components of the business.  In recent periods, however, three factors caused margins from printing operations to fall below that standard:
the disruption in the Chinese banking industry and the rise of strong competition in our field have forced us to price our products much more aggressively;
we have experienced sharp increases in the prices of certain raw materials; and
the reduction in our sales volume led to inefficient use of the new larger facility.
As the Chinese banking industry is moving towards stabilization, our expectation is that we will be able to revive our sales growth.  The increase in competition and pressure from rising raw material costs, however, will challenge our ability to return our printing operations to the levels of profitability that they sustained prior to the international credit crisis. 

We operated less efficiently during the first half and second quarter of 2011 than during the comparable periods of 2010.  Total operating expenses during the six months ended June 30, 2011 were $744,629, an increase of 46% from the $509,818 in operating expenses that we incurred during the first half of 2010.  Quarter-to-quarter operating expenses likewise increased by 22%.  The increases were attributable to several factors:
Our overall salaries, allowances and social insurance expense for staff increased approximately $87,000 during the first half of 2011.
We incurred approximately $34,000 in expenses related to efforts of our management to investigate and secure new business opportunities.
We incurred approximately $33,000 in research and development expenses related to those same efforts to expand our product lines.
A particularly cold winter led to increased fuel costs.
As the growth in operating expenses abated somewhat in the second quarter, our expectation is that the sharp rise in first quarter operating expenses was primarily a result of these special factors, and that our level of operating expenses for the year will gradually return to 2010 levels in the remainder of the year.
Our reduced gross margin and increased operating expenses resulted in reduction of operating income from $988,250 in the first six months of 2010 to $49,926 in the first six months of 2011, and from $397,442 in the three months ended June 30, 2010 to $148,055 in the three months ended June 30, 2011.  That decline in our financial results was exacerbated by a sharp increase in interest expense.  During the third quarter of 2010 we obtained a $4.6 million bank loan.  The finance charges attributable to that bank loan, $141,221 in the first half of 2011, led to a net loss before income taxes and noncontrolling interests of $12,066 in the first six months of 2011, compared to net income before taxes and noncontrolling interests of $891,739 in the first six months of 2010.  Again, the loss was incurred in the first quarter, as we achieved net income before income taxes and noncontrolling interests of $110,955 in the second quarter of 2011, albeit a 67% decline from net income before income taxes and noncontrolling interests in the second quarter of 2010.
The operations of our subsidiary, Harbin Golden Sea, produced net income of $97,920 in the second quarter of 2011 and a net loss of $19,460 in the first six months of 2011.  However, because we own only 90% of Harbin Golden Sea, we allocate 10% of the income or loss to the "noncontrolling interests" before recognizing the net income or loss on our Consolidated Statements of Operations and Comprehensive (Loss)/Income.  After that allocation and taking into account the income and expenses incurred by the parent corporation, our net income for the second quarter of 2011 was $73,725, representing $.004 per share, and our net loss for the first six months of 2011 was $38,393, representing $.002 per share.  In the second quarter of 2010, we had net income of $.01 per share, and $.04 in the first half of 2010.

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Current Price
Bid Ask Day's Range
#1714   XNYH on the move ... Wassup ? molee 10/07/16 03:58:43 PM
#1713   I had a bid in for a few $hellKing 08/26/16 06:01:58 PM
#1712   Tax-loss sellin' ??? Really ? molee 08/26/16 11:21:52 AM
#1711   That email doesnt work. I seems there $hellKing 07/19/16 10:45:18 AM
#1710   Company contact. Worth a shot to try $hellKing 07/19/16 10:42:02 AM
#1709   They are still hiring $hellKing 07/19/16 10:40:21 AM
#1708   Products Wearing parts $hellKing 07/19/16 10:38:53 AM
#1707   Message from the Chairman $hellKing 07/19/16 10:38:03 AM
#1706   Maybe one day they come back. $hellKing 07/19/16 10:37:31 AM
#1705   Company Name: XINYINHAI TECHNOLOGY, LTD. $hellKing 07/19/16 10:31:11 AM
#1704   Chinese stocks getting a little more interest. $hellKing 06/10/16 06:52:32 AM
#1703   Why the sudden interest ? Might I ask ? molee 06/10/16 01:04:46 AM
#1702   Xinyinhai Technology Ltd. $hellKing 06/09/16 04:59:33 PM
#1701   Interesting their site expires in a week. $hellKing 06/09/16 04:25:06 PM
#1700   This is their Chinese site, English tab doesnt $hellKing 06/09/16 04:23:15 PM
#1699   XINYINHAI TECHNOLOGY, LTD. $hellKing 06/09/16 04:20:57 PM
#1698   $XNYH .008 Do these guys still do $15,000,000.00 TRIPIL7Z 05/04/16 08:17:34 PM
#1697   $XNYH .002 EARLYALERTS TRIPIL7Z 09/11/15 07:05:38 PM
#1696   Someone needed $100 for the weekend ? molee 09/11/15 03:30:40 PM
#1695   Its going to go right back up.imo $hellKing 09/04/15 09:44:32 AM
#1694   Shenanigans ..... molee 09/03/15 01:55:53 PM
#1693   This has the STOP sign on the OTC Buy and pray 09/02/15 11:08:03 PM
#1692   There should be another renewal coming up soon. $hellKing 09/02/15 12:18:57 PM
#1691   XINYINHAI TECHNOLOGY, LTD. $hellKing 09/02/15 12:18:36 PM
#1690   They can be scary or fun as hell. $hellKing 09/02/15 12:16:53 PM
#1689   Some "tickling" of SP here ... molee 09/02/15 11:53:28 AM
#1688   I hope so. Its active and thats $hellKing 01/28/15 02:26:07 PM
#1687   This coming back from the dead from 4-5 illegal_alias 01/28/15 02:21:12 PM
#1686   NITE trying to keep a lid on this !?! molee 01/28/15 10:42:19 AM
#1685   What's driving this activity? devnull 01/27/15 03:49:14 PM
#1684   It was trading at $1.25 area 2007 but $hellKing 01/27/15 03:21:31 PM
#1683   I think for starters this could be .01-.02. $hellKing 01/27/15 03:17:12 PM
#1682   Yes it could be a goody. Some $hellKing 01/27/15 03:04:44 PM
#1681   Almost 500K volume and climbing!! Time to load ListenToMe 01/27/15 02:23:58 PM
#1680   These guys HAD a real good thing going ... molee 01/27/15 02:09:50 PM
#1679   It has a decent amount in assets and $hellKing 01/27/15 01:44:18 PM
#1678   XNYH... got to hit the ask!!! No Sellers ListenToMe 01/27/15 01:39:53 PM
#1677   Agreed. XNYH could go PARABOLIC!!! ListenToMe 01/27/15 01:37:39 PM
#1676   BID stacking strong now!!! xnyh gonna Break-Out!!! ListenToMe 01/27/15 01:18:36 PM
#1675   CAGM ran .002 to .20s or .30s $hellKing 01/27/15 01:08:30 PM
#1674   XNYH could be one of those 1000% GAINERS!! ListenToMe 01/27/15 12:51:09 PM
#1673   Hey you were in CAGM/Ubrandit right? Didnt $hellKing 01/27/15 12:51:06 PM
#1672   Yes AS low and OS is kinda low $hellKing 01/27/15 10:51:01 AM
#1671   NICE ! I GRABBED A FEW FOR A TRIPIL7Z 01/27/15 10:43:34 AM
#1670   Entity Number: 913097-0142 $hellKing 01/27/15 10:38:08 AM
#1669   $XNYH #EARLYALERT .002 TRIPIL7Z 01/27/15 10:18:53 AM
#1668   Who knows what there intentions are but I malc stone 03/02/12 03:50:07 PM
#1667   ~ XNYH tired of paying to file >> molee 03/02/12 01:31:31 PM
#1666   ~ Sorry , re-hash of last 10Q/10K :-( molee 02/21/12 09:45:21 AM
#1665   ~ Latest 10Q is out ;-) molee 02/21/12 09:38:04 AM