Though the improved cash position of the company, XING has registered capital expenditures and its net income has decreased by 47.3%. Qiao Xing still has more assets than liabilities on its balance sheet, though it should cover its long-term obligations. The company also reported it was to clear up its relationship with its subsidiary Qiao Xing Mobile Communication Co., Ltd., however, it needed an approval by the Board of Directors first.
Looks like the first quarter results of XING don't look as much improved, as compared to the year before. Though, the company relies on the mining business and makes encouraging projection on its next quarter earnings.