Haoxin Holdings is a small Chinese temperature-controlled trucking company headquartered in Ningbo, Zhejiang Province. Haoxin hauls temperature-sensitive goods — including food, chemicals, fruits, and electronics — from shipper pickup points to warehouses, logistics centers, and manufacturers across 30 of China's 34 provinces. Temperature-controlled truckload service accounts for nearly all of Haoxin's revenue; Haoxin recently disposed of the two subsidiaries running a small urban delivery segment. Haoxin owns a fleet of 70 tractors, 97 refrigerated trailers, and 31 vans, and supplements this with 39 subcontractors during peak demand. Customers include large logistics companies, supermarkets, and manufacturers. Haoxin charges customers based on distance traveled, with rates varying by province, fuel costs, and timing requirements. Key profit drivers are vehicle utilization — particularly loading cargo on both legs of each trip — fleet ownership via finance leases, and long-term master service agreements that provide route predictability. Haoxin's cost base is dominated by driver labor, fuel, maintenance, and insurance. Looking ahead, Haoxin plans to expand into pharmaceutical cold chain logistics (which carries stricter regulatory requirements), build cold storage warehouses in the Yangtze River Delta, replace 30% of its fleet with new energy vehicles in FY2026, explore supply chain finance offerings, and pursue M&A to expand fleet size and geographic coverage.