Xinyang Maojian Group Limited ( Xinyang Maojian or the Group, HKEx stock code: 362), formerly known as China Zenith Chemical Group Limited, is a company listed on the Stock Exchange of Hong Kong Limited with diversified business segments in the PRC.
In October 2018, the Group completed the acquisition of Xinyang Maojian International Holding Limited and has been granted the exclusive license for the e-commerce sales and overseas distribution right of Xinyang Maojian Tea Leaves, which is a well-known tea brand in China.
The brand name ¡V Longtan is the most famous brand under Xinyang Maojian Tea Leaves. The Longtan Teahouse established in 1913 and had won various awards over the world during these hundred years. In 2011, Longtan Xinyang Maojian Tea Leaves was officially approved as a Time-honoured Brand of Henan.
It is the company¡¦s aim to promote the popular Xinyang Maojian Tea Leaves to the world through the e-commerce and overseas channels and provide a stable return to the Group.
Heat and Power Business
The heat and power business is the important milestone of success in business diversification of the Group. Since 2014, the Group reformed its resources to build up the residential heat supplying area in Mudanjiang, the PRC. During these few years, the residential heat supplying area of the Group increased from less than 1,000,000 m2 to over 3,000,000 m2 which lead to a twofold increase in the Group¡¦s revenue.
In January 2018, the Group acquired Jinyang Engineering, a company engaging in the construction and monitor of public facilities construction. The Group intends to construct more heat exchange stations and facilities and pipeline networks to support its growing heat and power business.
Coal-related Chemical Production Business
The Group suffered from the slump in chemical market and coal-related business in the last few years. However, the coal-related business is in the recovering trend since there has been a rapid increase in the price of the calcium carbide products during 2017/2018. Moreover, the Group¡¦s calcium carbide factory in Heihe City, Heilongjiang Province of China is enjoying a preferential electricity price. Once the market condition is ready, the management would explore the opportunity in resume of downstream production line.
The management will keep looking for potential projects or transactions which could bring economic value and benefit to our shareholders.
Board of Directors