Shenhua Transportation Co:
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Shenhua was established by combine 100 small cab. companies and transportation firms in 1986. The company started with very shabby position and very little money except some old model cars. However, due to hard working and booming economic development in Shenzhen, the company doubled it's assets and earning 15 times in two years of time from 1986 to 1988. Several initiative the company took:
first to let individual cab driver leasing the car and share profit,
first to bid license permit in public auction
first to expand business into Hongkong.
By 1988, the profit before tax is about $0.5MM and asstes of $4.7MM
Business included cab biz., large cargo transportation, warehousing, restrurant, shoping market, etc..
From 88 to 94, the company further expanding the operation territory and extended business to as far as Beijing. The company incorporated in 1994 and has 16 subsidiaries, 2 Jvs AND ONE holding company.
in 1994, the total revenue is $10MM, profit of $2MM. The current asset book value (1994)is $10MM.
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