Hualing Xingma achieves restructuring, plans personnel and strategic shifts

Hanma Technology Group Co., Ltd., also known as Hualing Xingma Automobile Group (SSE:600375), reports a significant turnaround following its successful restructuring in 2024. The company's asset-to-liability ratio has improved dramatically, from 109.54% to 55.86%, and it has achieved a net profit attributable to shareholders of CNY 157.23 million, marking a pivotal recovery. As part of its forward strategy, the company has appointed Fan Ruirui as Executive Vice President, and Su Wenbo and Kuang Kaituan as Vice Presidents. The company is set to focus on new energy commercial vehicles and will continue to follow the "alcohol-hydrogen + electric" technology development. Hualing Xingma also is restructuring its intercompany relationships as evidenced by their 2025 business strategy, and the company has secured lines of credit from China and international financial institutions.