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Heng Xin China Holdings Limited (the “Company”) was incorporated as an exempted company with limited liability in Bermuda on 9 September 2002 under the Companies Act 1981 of Bemuda (as amended). The Company’s shares were listed on GEM on 16 April 2003. In the current financial year, the Group’s principal businesses in various fields recorded rapid development and profits.

Based on its proprietary core technology accessed to television broadcasting field in Hunan and Hubei provinces, the Group has began promoting wireless digital terrestrial television service since 2009. Coincidentally with the year the PRC government implements the policy that predisposes to terminate the analog television signal, local television operators therefore focus on the development of their businesses in rural areas, which are not covered by the cable television service as the urban cities. The Group’s businesses have developed rapidly since. Currently, the Group’s core business includes four parts: wireless digital terrestrial television equipment integration business in rural areas, digital cable television two-way conversion business in urban areas, encryption integrated circuit business and wireless digital audio integrated circuit business. The businesses are mainly delivered through PRC television broadcasting communications network to provide brand new services for their customers.

At the beginning of 2010, riding on the national “threenetwork convergence” policies, the Group has accessed to the cable television segment by virtue of its good cooperation developed with the provincial television operators in 2009. The Group has successfully entered into business cooperation agreements with television operators in Nanchang, Jiangxi and Anhui provinces respectively in relation to the construction and development of digital cable television two-way conversion and value-added business. At this point, the Group has rapidly transformed from a relatively basic projects integrator at the beginning of the business reorganisation into a company with dual role in integration and sustaining operation.

In the two years since completion of the business reorganisation, the Group’s business scope has increased significantly. Profit attributable to the shareholders has increased to about HK$181 million for the current year, which reflects the Group management’s indulgence to its mission to maximise shareholders’ value and achieve maximum benefits for the listed company. The Group’s major markets are in favourable condition and the potential is huge. The promotion of the “three-network convergence” policy will mean the television broadcasting industry will get substantive leap in the next few years.

According to the forecasts of the industry experts that under the “three-network convergence” policy, the market size in the television broadcasting will near RMB trillion. The Group’s wireless digital terrestrial television market will also expand substantially, resulting from the push of the television broadcasting industry nationally. Before the analog television terminates in 2015, it is expected that the wireless digital terrestrial television market size will near RMB100 billion. The Group has developed its new businesses in just over two years. Historical financial track record for investors’ reference is limited and the Group is a new enterprise in the television broadcasting industry. However, the Group has emerged as the sole PRC state standards wireless digital television CA card suppliers and the most powerful domestic technology design and construction of wireless television solution provider. China has the world’s biggest television network and the largest number of subscribers. The Group is operating in an industry with strong market demand and currently at the broadcasting television business transformation movement, under the tight development requirements by the state of digitalisation of the television network and the support of the “three-network convergence” national policy. The Group is in a unique position to reap strong profits as an equipment supplier and operator yielding both short-term and long-term gains. The Group possesses numerous suppliers’ support, competent professional management team, and achieved market pioneer status particularly in the central China broadcasting region.