Revenue growth has turned volatile with a 5.7% contraction in 2025Q4, though the firm maintains a competitive 23.5% gross margin profile in its specialized logistics segment.
| Sales/Revenue | 33.04M | 25.57M | 26.66M | 28.95M | 29.93M | 13.95M |
| Revenue Growth % | 29.2% | -4.1% | -7.89% | -3.27% | 114.51% | - |
| Cost of Goods Sold | 24.74M | 19.09M | 19.81M | 21.21M | 22.1M | 11.14M |
| COGS % of Revenue | 74.89% | 74.64% | 74.27% | 73.25% | 73.85% | 79.82% |
| Gross Profit | 8.3M | 6.49M | 6.86M | 7.74M | 7.82M | 2.82M |
| Gross Margin % | 25.11% | 25.36% | 25.73% | 26.75% | 26.15% | 20.18% |
| Gross Profit Growth % | 27.9% | -5.45% | -11.4% | -1.05% | 177.95% | - |
| Operating Expenses | 505.3K | 945.05K | 851.51K | 1.54M | 679.87K | 629.71K |
| OpEx % of Revenue | 1.53% | 3.7% | 3.19% | 5.31% | 2.27% | 4.51% |
| Selling, General & Admin | 505.3K | 945.05K | 851.51K | 1.54M | 679.87K | 629.71K |
| SG&A % of Revenue | 1.53% | 3.7% | 3.19% | 5.31% | 2.27% | 4.51% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 7.79M | 5.54M | 6.01M | 6.21M | 7.14M | 2.19M |
| Operating Margin % | 23.58% | 21.67% | 22.53% | 21.44% | 23.88% | 15.67% |
| Operating Income Growth % | 40.6% | -7.78% | -3.19% | -13.14% | 226.94% | - |
| EBITDA | 8.28M | 5.94M | 6.6M | 7.1M | 8.43M | 3.52M |
| EBITDA Margin % | 25.07% | 23.24% | 24.75% | 24.53% | 28.16% | 25.26% |
| EBITDA Growth % | 39.35% | -9.94% | -7.07% | -15.73% | 139.12% | - |
| D&A (Non-Cash Add-back) | 491.8K | 402.59K | 591.12K | 894.97K | 1.28M | 1.34M |
| EBIT | 5.96M | 4.78M | 5.66M | 6.09M | 7.26M | 2.27M |
| Net Interest Income | -269.94K | -188.9K | -154.05K | -166.02K | -254.33K | -361.97K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 269.94K | 188.9K | 154.05K | 166.02K | 254.33K | 361.97K |
| Other Income/Expense | -2.1M | -946.47K | -503.75K | -282.84K | -141.83K | -277.67K |
| Pretax Income | 5.69M | 4.59M | 5.5M | 5.92M | 7M | 1.91M |
| Pretax Margin % | 17.22% | 17.96% | 20.64% | 20.46% | 23.4% | 13.68% |
| Income Tax | 1.72M | 1.42M | 1.53M | 1.64M | 1.73M | 352.85K |
| Effective Tax Rate % | 30.26% | 30.91% | 27.88% | 27.62% | 24.75% | 18.5% |
| Net Income | 3.97M | 3.17M | 3.97M | 4.29M | 5.27M | 1.55M |
| Net Margin % | 12.01% | 12.41% | 14.89% | 14.81% | 17.61% | 11.15% |
| Net Income Growth % | 25.02% | -20.05% | -7.41% | -18.64% | 238.9% | - |
| Net Income (Continuing) | 3.97M | 3.17M | 3.97M | 4.29M | 5.27M | 1.55M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.04 | 0.21 | 0.26 | 0.29 | 0.35 | 0.10 |
| EPS Growth % | -80.9% | -19.23% | -10.34% | -17.14% | 250% | - |
| EPS (Basic) | 0.04 | 0.23 | 0.29 | 0.31 | 0.35 | 0.10 |
| Diluted Shares Outstanding | 13.75M | 15M | 15M | 15M | 15M | 15M |
| Basic Shares Outstanding | 13.75M | 13.75M | 13.75M | 13.75M | 15M | 15M |
| Dividend Payout Ratio | - | - | - | - | - | - |
Thin Liquidity and Volatility
As reported in recent financial filings, HXHX experienced a significant revenue contraction of 5.7% in 2025Q4 following a period of rapid expansion, highlighting the sensitivity of the company's specialized logistics model to the cyclical industrial production cycles within the Ningbo-Zhejiang manufacturing cluster.
The sharp fluctuation in top-line performance suggests that the company's reliance on specific industrial manufacturing inputs leaves it vulnerable to localized economic shifts. Investors should monitor whether this recent decline represents a structural cooling of demand or merely a temporary disruption in the regional supply chain.
Based on the company's reported figures, HXHX maintains a gross margin profile averaging approximately 25%, which appears to reflect a competitive advantage in temperature-controlled logistics that shields the firm from the commoditized pricing pressures typically observed in the broader Chinese urban delivery market.
The ability to sustain these margins suggests that the company's 3A-Grade status and specialized licensing provide a meaningful moat against generalist competitors. However, the narrow spread between gross and operating margins warrants caution, as it implies limited flexibility to absorb rising operational costs without impacting bottom-line profitability.
According to the income statement data, HXHX demonstrates lean operating leverage with SG&A expenses remaining minimal relative to gross profit, yet the persistent gap between operating and net margins suggests that non-operating items or tax burdens may be significantly diluting the company's core operational gains.
While the company appears efficient at the operating level, the discrepancy between operating and net income indicates that external factors or financial obligations are exerting downward pressure on earnings. Analysts should investigate the nature of these 'below-the-line' costs to determine if they are recurring or indicative of underlying structural inefficiencies.
As evidenced by the reported financial statements, the company's thin cash position of $1.4M against $33M in annual revenue suggests a precarious liquidity profile that may limit the firm's capacity to navigate sudden spikes in fuel costs or delays in accounts receivable collection.
The lack of a substantial cash buffer may force the company to rely on external financing or delay necessary fleet maintenance if operational cash flow falters. This vulnerability is particularly concerning given the capital-intensive nature of the trucking industry and the potential for regulatory shocks to necessitate unplanned capital expenditures.
Quick answers to the most common questions about buying HXHX stock.
For fiscal year 2025, Haoxin Holdings Limited Class A Ordinary Shares (HXHX) reported total revenue of $33.0M. This represents a 136.8% increase compared to $14.0M in 2020.
Haoxin Holdings Limited Class A Ordinary Shares (HXHX) is profitable, generating $4.0M in net income for the fiscal year ending 2025 with a net profit margin of 12.0%.
Haoxin Holdings Limited Class A Ordinary Shares (HXHX) reported an operating income of $7.8M, resulting in an operating profit margin of 23.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Haoxin Holdings Limited Class A Ordinary Shares (HXHX) generated $8.3M in gross profit for the year, representing a gross profit margin of 25.1%. This demonstrates the company's core pricing power and production efficiency.