Haoxin Holdings Limited Class A Ordinary Shares (HXHX) 10-Year Financial Performance & Capital Metrics

HXHX • • Industrial / General

IndustrialsTruckingTruckload CarriersTemperature-Controlled Truckload

AboutHaoxin Holdings Limited is a China-based logistics company specializing in temperature-controlled truckload and urban delivery services. Founded in 2003, the company began its urban delivery operations and expanded into temperature-controlled logistics in 2016. Haoxin operates through subsidiaries including Ningbo Haoxin, Zhejiang Haoxin, Longanda, and Haiyue. The company’s services cater to factory logistics, transporting goods such as electronic devices, chemicals, fruits, food, and commercial products. Haoxin is recognized as a 3A-Grade transportation service provider by the China Federation of Logistics and Purchasing.Show more

Revenue $26M -4.1%
EBITDA $6M -9.9%
Net Income $3M -20.0%
EPS (Diluted) 0.21 -19.2%
Gross Margin 25.36% -1.4%
EBITDA Margin 23.24% -6.1%
Operating Margin 21.67% -3.8%
Net Margin 12.41% -16.6%
ROE 18.63% -34.1%
ROIC 20.35% -23.4%
Debt/Equity 0.19 -16.7%
Interest Coverage 29.33 -24.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 29.1%
✓Healthy 5Y average net margin of 14.2%
✓Trading at only 0.4x book value

✗Weaknesses

✗Negative free cash flow
✗Weak momentum: RS Rating 6 (bottom 6%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-5.11%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-15.55%

TTM-

EPS CAGR

10Y-

5Y-

3Y-15.66%

TTM-

ROCE

10Y Avg58.53%

5Y Avg58.53%

3Y Avg43.94%

Latest32.02%

Peer Comparison

Temperature-Controlled Truckload

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MRTNMarten Transport, Ltd.	1.04B	12.73	38.58	-14.83%	1.89%	2.52%		0.00
HXHXHaoxin Holdings Limited Class A Ordinary Shares	4.55M	0.51	2.42	-4.1%	12.41%	18.63%		0.19

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	13.95M	29.93M	28.95M	26.66M	25.57M
Revenue Growth %	-	1.15%	-0.03%	-0.08%	-0.04%
Cost of Goods Sold+	11.14M	22.1M	21.21M	19.81M	19.09M
COGS % of Revenue	0.8%	0.74%	0.73%	0.74%	0.75%
Gross Profit+	2.82M	7.82M	7.74M	6.86M	6.49M
Gross Margin %	0.2%	0.26%	0.27%	0.26%	0.25%
Gross Profit Growth %	-	1.78%	-0.01%	-0.11%	-0.05%
Operating Expenses+	629.71K	679.87K	1.54M	851.51K	945.05K
OpEx % of Revenue	0.05%	0.02%	0.05%	0.03%	0.04%
Selling, General & Admin	629.71K	679.87K	1.54M	851.51K	945.05K
SG&A % of Revenue	0.05%	0.02%	0.05%	0.03%	0.04%
Research & Development	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0
Operating Income+	2.19M	7.14M	6.21M	6.01M	5.54M
Operating Margin %	0.16%	0.24%	0.21%	0.23%	0.22%
Operating Income Growth %	-	2.27%	-0.13%	-0.03%	-0.08%
EBITDA+	3.52M	8.43M	7.1M	6.6M	5.94M
EBITDA Margin %	0.25%	0.28%	0.25%	0.25%	0.23%
EBITDA Growth %	-	1.39%	-0.16%	-0.07%	-0.1%
D&A (Non-Cash Add-back)	1.34M	1.28M	894.97K	591.12K	402.59K
EBIT	2.27M	7.26M	6.09M	5.66M	4.78M
Net Interest Income+	-361.97K	-254.33K	-166.02K	-154.05K	-188.9K
Interest Income	0	0	0	0	0
Interest Expense	361.97K	254.33K	166.02K	154.05K	188.9K
Other Income/Expense	-277.67K	-141.83K	-282.84K	-503.75K	-946.47K
Pretax Income+	1.91M	7M	5.92M	5.5M	4.59M
Pretax Margin %	0.14%	0.23%	0.2%	0.21%	0.18%
Income Tax+	352.85K	1.73M	1.64M	1.53M	1.42M
Effective Tax Rate %	0.82%	0.75%	0.72%	0.72%	0.69%
Net Income+	1.55M	5.27M	4.29M	3.97M	3.17M
Net Margin %	0.11%	0.18%	0.15%	0.15%	0.12%
Net Income Growth %	-	2.39%	-0.19%	-0.07%	-0.2%
Net Income (Continuing)	1.55M	5.27M	4.29M	3.97M	3.17M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	0.10	0.35	0.29	0.26	0.21
EPS Growth %	-	2.5%	-0.17%	-0.1%	-0.19%
EPS (Basic)	0.10	0.35	0.31	0.29	0.23
Diluted Shares Outstanding	15M	15M	15M	15M	15M
Basic Shares Outstanding	15M	15M	13.75M	13.75M	13.75M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	8.77M	17.47M	19.54M	26.47M	31.06M
Cash & Short-Term Investments	209.26K	776.89K	98.13K	86.29K	170.43K
Cash Only	209.26K	776.89K	98.13K	86.29K	170.43K
Short-Term Investments	0	0	0	0	0
Accounts Receivable	7.59M	15.07M	12.74M	19.78M	20.15M
Days Sales Outstanding	198.55	183.85	160.6	270.74	287.68
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	3.75K	3.84K	3.54K	3.44K	3.35K
Total Non-Current Assets+	3.86M	2.93M	2.14M	1.68M	1.32M
Property, Plant & Equipment	3.48M	2.51M	1.57M	906.06K	537.45K
Fixed Asset Turnover	4.01x	11.91x	18.40x	29.43x	47.58x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	0	0	173	169	164
Other Non-Current Assets	383.63K	392.01K	502.51K	636.28K	645.61K
Total Assets+	12.63M	20.39M	21.69M	28.15M	32.38M
Asset Turnover	1.10x	1.47x	1.33x	0.95x	0.79x
Asset Growth %	-	0.61%	0.06%	0.3%	0.15%
Total Current Liabilities+	8.51M	11.26M	9.28M	12.06M	13.86M
Accounts Payable	2.11M	2.73M	1.04M	1.27M	608.23K
Days Payables Outstanding	69.2	45.01	17.9	23.4	11.63
Short-Term Debt	2.54M	2.84M	2.41M	3.15M	3.32M
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	209.44K	165.7K	125.56K	121.6K	200.08K
Current Ratio	1.03x	1.55x	2.11x	2.19x	2.24x
Quick Ratio	1.03x	1.55x	2.11x	2.19x	2.24x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	639.48K	244.19K	16.86K	392.19K	144.7K
Long-Term Debt	287.97K	244.19K	0	389.19K	144.7K
Capital Lease Obligations	351.51K	0	16.86K	3K	0
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0
Total Liabilities	9.15M	11.5M	9.3M	12.45M	14.01M
Total Debt+	4.16M	3.45M	2.47M	3.56M	3.47M
Net Debt	3.95M	2.67M	2.37M	3.47M	3.3M
Debt / Equity	1.20x	0.39x	0.20x	0.23x	0.19x
Debt / EBITDA	1.18x	0.41x	0.35x	0.54x	0.58x
Net Debt / EBITDA	1.12x	0.32x	0.33x	0.53x	0.56x
Interest Coverage	6.04x	28.09x	37.38x	39.00x	29.33x
Total Equity+	3.48M	8.89M	12.39M	15.7M	18.37M
Equity Growth %	-	1.56%	0.39%	0.27%	0.17%
Book Value per Share	0.23	0.59	0.83	1.05	1.22
Total Shareholders' Equity	3.48M	8.89M	12.39M	15.7M	18.37M
Common Stock	0	1.2K	1.2K	1.2K	1.2K
Retained Earnings	311.59K	5.18M	9.05M	12.73M	15.91M
Treasury Stock	0	0	0	0	0
Accumulated OCI	211.06K	754.03K	378.63K	6.4K	-492.74K
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.46M	1.54M	-433.88K	933.49K	-3.96M
Operating CF Margin %	0.18%	0.05%	-0.01%	0.04%	-0.15%
Operating CF Growth %	-	-0.37%	-1.28%	3.15%	-5.24%
Net Income	1.55M	5.27M	4.29M	3.97M	3.17M
Depreciation & Amortization	1.34M	1.28M	894.97K	591.12K	402.59K
Stock-Based Compensation	0	0	0	0	0
Deferred Taxes	-95	-20.98K	-49.93K	21.91K	-5.67K
Other Non-Cash Items	-250.31K	-90.29K	204.65K	-34.91K	152.04K
Working Capital Changes	-180.88K	-4.9M	-5.77M	-3.61M	-7.68M
Change in Receivables	-894.09K	-7.33M	66.73K	-6.73M	-3.92M
Change in Inventory	0	0	0	0	0
Change in Payables	-87.62K	557.76K	-1.52M	259.72K	-635.62K
Cash from Investing+	-304.9K	-287.56K	-66.74K	-5.51K	995.78K
Capital Expenditures	-652.08K	-287.63K	-66.74K	-12.15K	-4.3K
CapEx % of Revenue	0.05%	0.01%	0%	0%	0%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	296.88K	66	0	5.7K	1M
Cash from Financing+	-2.44M	-695.47K	-134.65K	-937.04K	3.05M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	-1.61M	595.44K	259.59K	-2.13M	2.98M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	1.81M	1.25M	-500.62K	921.34K	-3.96M
FCF Margin %	0.13%	0.04%	-0.02%	0.03%	-0.15%
FCF Growth %	-	-0.31%	-1.4%	2.84%	-5.3%
FCF per Share	0.12	0.08	-0.03	0.06	-0.26
FCF Conversion (FCF/Net Income)	1.58x	0.29x	-0.10x	0.24x	-1.25x
Interest Paid	362.03K	254.36K	166.02K	154.05K	182.89K
Taxes Paid	8.82K	90.22K	172.56K	27.46K	66.79K

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	44.68%	85.17%	40.29%	28.27%	18.63%
Return on Invested Capital (ROIC)	22.06%	56.43%	35.37%	26.56%	20.35%
Gross Margin	20.18%	26.15%	26.75%	25.73%	25.36%
Net Margin	11.15%	17.61%	14.81%	14.89%	12.41%
Debt / Equity	1.20x	0.39x	0.20x	0.23x	0.19x
Interest Coverage	6.04x	28.09x	37.38x	39.00x	29.33x
FCF Conversion	1.58x	0.29x	-0.10x	0.24x	-1.25x
Revenue Growth	-	114.51%	-3.27%	-7.89%	-4.1%

Frequently Asked Questions

Valuation & Price

Haoxin Holdings Limited Class A Ordinary Shares (HXHX) has a price-to-earnings (P/E) ratio of 2.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Haoxin Holdings Limited Class A Ordinary Shares (HXHX) reported $25.6M in revenue for fiscal year 2024. This represents a 83% increase from $14.0M in 2020.

Haoxin Holdings Limited Class A Ordinary Shares (HXHX) saw revenue decline by 4.1% over the past year.

Yes, Haoxin Holdings Limited Class A Ordinary Shares (HXHX) is profitable, generating $3.2M in net income for fiscal year 2024 (12.4% net margin).

Dividend & Returns

Haoxin Holdings Limited Class A Ordinary Shares (HXHX) has a return on equity (ROE) of 18.6%. This is reasonable for most industries.

Haoxin Holdings Limited Class A Ordinary Shares (HXHX) had negative free cash flow of $4.0M in fiscal year 2024, likely due to heavy capital investments.

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