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Chairman Statement

Huaxi Holdings demonstrated a brilliant results to the market and investors in 2018. The Group recorded a satisfactory increase in both revenue profit attributable to shareholders of the Company from cigarette packaging and environmental treatment business as compared to last financial year.

The Company was not affected by the volatility of the global economy in 2018 and achieved a new breakthroughs in the performance of cigarette packaging materials business and development of environmental water treatment projects because of our sound financial position. We have confidence the Company will continue to growth in the future. The Group is all united and committed to achieving our three goals of “Brand Establishment (樹立品牌)”, “Market Exploration (開拓市場)” and “Being Honest and Trustworthy (誠實守信).

Cigarette Packaging Materials Business

The “Healthy China 2030 Plan (健康中國2030規劃)” issued by the Central Government and the State Council clearly set out specific development goals for smoking ban and tobacco control. By 2030, the current 27% of smoking population in China will be reduced to 20%. This will have a huge impact on the development of tobacco industry in China, and data showed that national cigarette sales have declined for two consecutive years. Facing the severe challenges in the industry environment, our Xinda Color Printing team demonstrated its persistent pursuit of brand connotation and service spirit, and continued to create products and services that satisfy customers and maintain a good development trend for our cigarette business.

Environmental Treatment Business

In early 2018, comprehensive implementation of “Provincial Prevention and Control of Pollution (省污染防治攻堅戰)”has been initiated in Guangdong Province and significant endeavor has been devoted to improving the water quality of the section to achieve national and provincial standards. According to the requirements of “Water Pollution Prevention Action Plan (水污染防治行動計劃)”, “Three-year Action Plan for the Prevention and Control of Pollution in Guangdong Province (2018-2020) (廣東省打好污染防治攻堅戰三年行動計劃2018-2020 年)” and “Implementation Guideline for Water Pollution Prevention Action Plan in Guangdong Province (廣東省水污染防治行動計劃實施方 案)”, the quality of more than 83.1% of surface water in the province should be maintained at an excellent condition in 2019, reaching Class (III) under the national water quality standards, while the proportion of the inferior Class (V) water should be controlled within 4.2%. The inferior Class (V) water shall be eliminated by 2020. The quality of centralized drinking water sources for major urban centers at prefecture and county level needs to maintain at Class (III), and 90% of black and odorous water bodies be eliminated.

At the technological level, the Group has formed strategic cooperation with top domestic research institutes such as School of Environment at Tsinghua University and mastered advanced technologies for environmental treatment in river basins. During the preparation stage, our Hongdong Treatment team binds by three guiding principles: “precision”, “quantification” and “optimization”, we collect varieties of data and draft the master plan based on systemic thinking.

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