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Heng Tian Lixin Shenzhen Dyeing And Finishing Line Moved To Zhongshan To Cause Labor Disputes, And A Few Employees Left The Post To Argue.
China Heng Tian Li Xin International Co., Ltd. (hereinafter referred to as "Heng Tian Li Xin") announced in June 17th that the new factory building located at the industrial park in Zhongshan, Guangdong, is beginning to carry out internal decoration and equipment installation in phases, and is expected to be completed by the end of this year. At present, the installation of the new equipment production line of Zhongshan new factory is in progress, and the subsequent production line will be relocated according to the needs. The company has begun signing new labor contracts with some employees of Zhongshan new company.
Heng Tian Li Xin said that the company is located in the Longgang District of Shenzhen, several of the business segments of a dyeing and finishing equipment production department is still part of the staff are communicating with the company to negotiate the continuation of the labor contract, consultation to terminate the labor contract and other related matters. A small number of employees left their jobs, gathered in the factory, and were communicating with enterprises, resulting in little impact on production. At present, communication work is carried out in a peaceful manner, which started in June 4, 2019.
At present, Heng Tian Li Xin management has been communicating with employees, and requires all staff who are absent from work to return to their posts and resume work. At present, a small number of employees are leaving their jobs. As of today, the incidents of staff gathering in factories are not yet over.
In view of the fact that most of the facilities of the new plant in Zhongshan, which occupies about 800 mu, has been put into operation, the production base in Zhongshan has almost taken the major production projects that were originally built in Shenzhen. Therefore, the board of directors of Heng Tian Li believes that the short term interference from dyeing and finishing equipment in Shenzhen will not cause any significant adverse impact on the overall production and operation of the company.
According to public information, Heng Tian Lixin is a Hongkong Invest-holding Company which is mainly engaged in industrial products related businesses. The company operates through three major divisions. Dyeing and finishing machinery manufacturing and Sales Division engaged in dyeing and finishing machinery manufacturing and sales business. Its brand includes Lixin, Lixin door Fuji, yarn Lila, tern and Gao le. The stainless steel trade division is engaged in the trade of stainless steel. Stainless steel casting products manufacturing and sales division is engaged in the manufacture and sale of stainless steel casting products.
Data show that, as of the end of 2018, Heng Tian Li Xin achieved business income of HK $3 billion 472 million, an increase of 2% over the same period last year. Gross profit was HK $1 billion 103 million, down 8.81% compared to the same period last year. The profit attributable to the parent company was HK $141 million, down 50% from the same period last year. The basic earnings per share are 12.82 Hong Kong immortals, and the final dividend is 2 Hong Kong cents per share.
During the reporting period, the manufacturing and sales dyeing and finishing machinery division of Heng Tian Li made about HK $2 billion 695 million, accounting for 78% of the group's revenue, up 1% from the previous year. Manufacturing and sales of stainless steel casting products division achieved revenue of about HK $494 million, accounting for 14% of group business revenue, up 16% from last year. Operating profit increased from about HK $56 million last year to HK $81 million. The business segment has been performing well and its growth is ideal.
By the end of December 31, 2018, there were about 4570 employees in Heng Tian Li Xin, covering China, Hongkong, China, Macao, Germany, Switzerland, Austria, Thailand, India, Turkey and Central America to South America. By the end of 2018, the cost of employees (including directors' remuneration, employees' remuneration and retirement benefits scheme contributions) amounted to about HK $758 million.
Heng Tian Li Xin said that the company is located in the Longgang District of Shenzhen, several of the business segments of a dyeing and finishing equipment production department is still part of the staff are communicating with the company to negotiate the continuation of the labor contract, consultation to terminate the labor contract and other related matters. A small number of employees left their jobs, gathered in the factory, and were communicating with enterprises, resulting in little impact on production. At present, communication work is carried out in a peaceful manner, which started in June 4, 2019.
At present, Heng Tian Li Xin management has been communicating with employees, and requires all staff who are absent from work to return to their posts and resume work. At present, a small number of employees are leaving their jobs. As of today, the incidents of staff gathering in factories are not yet over.
In view of the fact that most of the facilities of the new plant in Zhongshan, which occupies about 800 mu, has been put into operation, the production base in Zhongshan has almost taken the major production projects that were originally built in Shenzhen. Therefore, the board of directors of Heng Tian Li believes that the short term interference from dyeing and finishing equipment in Shenzhen will not cause any significant adverse impact on the overall production and operation of the company.
According to public information, Heng Tian Lixin is a Hongkong Invest-holding Company which is mainly engaged in industrial products related businesses. The company operates through three major divisions. Dyeing and finishing machinery manufacturing and Sales Division engaged in dyeing and finishing machinery manufacturing and sales business. Its brand includes Lixin, Lixin door Fuji, yarn Lila, tern and Gao le. The stainless steel trade division is engaged in the trade of stainless steel. Stainless steel casting products manufacturing and sales division is engaged in the manufacture and sale of stainless steel casting products.
Data show that, as of the end of 2018, Heng Tian Li Xin achieved business income of HK $3 billion 472 million, an increase of 2% over the same period last year. Gross profit was HK $1 billion 103 million, down 8.81% compared to the same period last year. The profit attributable to the parent company was HK $141 million, down 50% from the same period last year. The basic earnings per share are 12.82 Hong Kong immortals, and the final dividend is 2 Hong Kong cents per share.
During the reporting period, the manufacturing and sales dyeing and finishing machinery division of Heng Tian Li made about HK $2 billion 695 million, accounting for 78% of the group's revenue, up 1% from the previous year. Manufacturing and sales of stainless steel casting products division achieved revenue of about HK $494 million, accounting for 14% of group business revenue, up 16% from last year. Operating profit increased from about HK $56 million last year to HK $81 million. The business segment has been performing well and its growth is ideal.
By the end of December 31, 2018, there were about 4570 employees in Heng Tian Li Xin, covering China, Hongkong, China, Macao, Germany, Switzerland, Austria, Thailand, India, Turkey and Central America to South America. By the end of 2018, the cost of employees (including directors' remuneration, employees' remuneration and retirement benefits scheme contributions) amounted to about HK $758 million.
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