HONG KONG, Nov. 20, 2012 /PRNewswire/ -- Xiangyu Dredging
Holdings Limited ("Xiangyu Dredging" or the "Company",
stock code: 871), the largest privately owned dredging company in
China in terms of dredging volume
in 2010, has been awarded "2012 China Dredging Company of the Year"
by Frost & Sullivan, the globally renowned consulting company,
in recognition of Xiangyu Dredging's outstanding achievements in
terms of business expansion, technological advancement for
environmentally-friendly dredging and targeted development
strategies.
"China Dredging Company of the Year" aims at acknowledging
excellent quality, superior services and good reputation of the
chosen dredging company. Xiangyu Dredging is committed to providing
quality customer-orientated dredging services. Amid a global and
regional economic slowdown, Xiangyu has outperformed its peers
thanks to a well-focused business strategy, especially with its
expertise in environmentally-friendly dredging buttressed by a
top-line alignment of advance technologies and equipments. In
particular, the company's leading technological edges in areas such
as hi-efficiency drying has built for it a solid reputation within
a short period of time in capital and reclamation dredging and
leading the environmental dredging industry.
Frost & Sullivan, a global growth consulting company,
publishes over 500 comprehensive industry converge per year,
partners with clients to support the development of innovative
strategies for more than 40 years. The company serves an extensive
clientele that includes Global 1000 companies, emerging companies,
and the investment community. Frost & Sullivan has won a
worldwide reputation for its high-quality services in more than 300
major industries.
Mr. Liu Kaijin, Joint Chairman, executive Director and CEO of
Xiangyu Dredging, said, "Xiangyu is delighted and honored to
see its hard work recognized by the international business
community. We have adamantly adhered to a corporate mission of
'Grasping every valuable opportunities to build a leadership in
environmental protection dredging'. China's favorable water conservancy and
environmental protection policies open a broad horizon for
Xiangyu's growth plan. We are committed to build an ever more
beautiful China with our
experience and expertise as China's leading player in environmentally
protection dredging industry."
About Xiangyu Dredging
Xiangyu Dredging has been listed on the Stock Exchange of
Hong Kong ("SEHK") on 20 June 2011. The Company is the largest
privately owned dredging company in China in terms of dredging volume in 2010,
according to the Frost & Sullivan Report. The Company is
engaged in providing capital & reclamation dredging,
environmental protection dredging, dredging related construction
business and other marine business services. The Company has
cultivated strong client relationships and has a strong project
pipeline including large-scale projects with prestigious clientele.
In 2011, the total revenue was increased by 203% to RMB 1.14 billion, integrated net profit grew by
219% to RMB 300 million. The Company
has strong ability to evaluate project profitability and
selectively engage in profitable projects, and have undertaken
contract work on dredging projects such as Dalian Changxingdao
Harbor Project and Tianjin Project. The Company achieved an average
dredger working efficiency rate of approximately 83% in 2010, which
was higher than the industry average of 70% in China.
This press release is issued by Wonderful Sky Financial Group
Limited on behalf of Xiangyu Dredging Holdings
Limited
SOURCE Xiangyu Dredging Holdings LimitedP