Yu Shih-Hao Appointed as New General Manager of A Xin Construction; Yao Zheng-Yue Becomes Full-Time Chairman

Listed construction company A Xin (5213-TW) announced on September 28, 2024, that Yu Shih-Hao has been appointed as the new general manager. Yao Zheng-Yue, who previously served as both chairman and general manager, will now focus solely on his role as chairman. Yao Zheng-Yue took on both roles in April 2024. Concurrently, A Xin acquired 48.79% of Quan Hong Construction's shares through a share swap by issuing 40,814 new shares, with the share swap base date set for September 15. Currently, A Xin already holds 51.21% of Quan Hong Construction's shares. By issuing new shares and exchanging 1 share of A Xin for 2.05 shares of Quan Hong Construction, A Xin will acquire the remaining 48.79% of shares. Upon completion of this transaction, Quan Hong Construction will become a wholly-owned subsidiary of A Xin. Key projects under Quan Hong Construction include 'A Xin Fengshan', 'A Xin Yizhi', 'A Xin Xinfu Zhen' in Taichung, and the A4 Corporate Headquarters in Xinzhuang, New Taipei City, with a total projected sales of approximately 20 billion yen. A Xin aims to enhance revenue purity and fully recognize profits through full acquisition. For 2025, A Xin Construction's revenue is projected to be 180.31 billion yen, with a net profit of 21.42 billion yen, an EPS of 3.06 yen, and a dividend of 2.8 yen. A Xin Construction's operations remain robust in 2026, with four major projects—'A Xin Yizhi', 'A Xin Dunnan', 'Xin Yinse', and 'Sen Central'—entering the completion and handover recognition stage. Additionally, with the sell-off of pre-built housing, the company estimates an annual revenue of 150 billion yen.