The board of directors of Xiangyu Dredging Holdings Limited announced that Ms. Elsie Wong has resigned as the company's company secretary and joint chief financial officer and ceased to be an authorized representative of the company with effect from 19 April 2013 to pursue other career opportunities. The board also announced that, with effect from 19 April 2013 Mr. Leung Kim Hung has been appointed to be the Company Secretary and the authorized representative and Mr. Cheng Shing Hay has been appointed as the Joint CFO. Before joining the Group, Leung was the head of legal department of Asian Pacific Region of an European based renewable energy group. Prior to joining the Group, Cheng worked as the chief financial officer of a PRC based internet company, mainly in charge of the overall accounting and financial matters.

Xiangyu Dredging Holdings Limited reported audited consolidated cash flow results for the year ended December 31, 2012. For the year, the company reported net cash from operating activities of RMB 203,133,000 compared to net cash used in operating activities of RMB 36,141,000 a year ago. Purchase of property, plant and equipment was RMB 384,382,000 compared to RMB 354,448,000 a year ago. Purchase of leasehold land was RMB 89,415,000.

Xiangyu Dredging Holdings Limited reported audited consolidated earnings results for the full year ended December 31, 2012. For the year, the company reported revenue of RMB 966,027,000 compared to revenue of RMB 1,137,303,000 last year. Profit before tax was RMB 294,886,000 compared to RMB 415,730,000 last year. Consolidated net profit and total comprehensive income was RMB 214,392,000 compared to RMB 303,164,000 last year. Consolidated net profit and total comprehensive income attributable to owners of the company was RMB 199,495,000 or RMB 0.25 per basic and diluted share compared to RMB 303,164,000 or RMB 0.43 per basic share last year. Apart from the decrease in profit for the year, the decrease was also due to the difference in weighted average number of Shares between 2011 and 2012.