Haoxin Holdings Reports 4.1% Drop in Sales and 20% Decline in Net Income for 2024; Urban Delivery Demand Falls
Haoxin Holdings Ltd. reported a 4.1% decline in sales for 2024, totaling $25.6 million, primarily due to reduced urban delivery demand in the Huanan area. Net income fell by 20% to $3.2 million, down from $4.0 million the previous year. The company operates a fleet of 82 tractors and continues to be recognized as a 3A-Grade transportation service provider in China. The decrease in income tax provision was 7.5%.
Haoxin Holdings Ltd., a provider of temperature-controlled truckload service and urban delivery services in China, has reported its financial results for the fiscal year ending December 31, 2024. The company experienced a decline in total sales, which amounted to $25.6 million, a decrease of $1.1 million or 4.1% compared to the previous year’s $26.7 million. This reduction is primarily attributed to a decrease in domestic demand in the Huanan area, leading to a $1.2 million decrease in urban delivery services. Net income for the year was reported at $3.2 million, marking a decrease of $0.8 million or 20% from the previous year’s net income of $4.0 million. Provision for income taxes decreased by 7.5%, from $1.5 million to $1.4 million. Haoxin Holdings Ltd. continues to operate a truckload fleet with 82 tractors, conducting its operations through subsidiaries including Ningbo Haoxin, Zhejiang Haoxin, Longanda, and Haiyue. The company, which began its urban delivery service in 2003 and expanded into temperature-controlled truckload services in 2016, remains a recognized 3A-Grade transportation service provider by the China Federation of Logistics and Purchasing. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Haoxin Holdings Ltd. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-25-037634), on April 30, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
