Haoxin Holdings Limited (NASDAQ:HXHX) shares fell 9.98% to $0.36 in after-hours trading Thursday after the company announced an $18 million purchase of 200 electric trucks as part of a broader new energy logistics expansion.
Haoxin Holdings provides temperature-controlled truckload and urban delivery services in China through its operating subsidiaries.
Electric Truck Fleet Expansion
Subsidiary Yiwu Haitong International Logistics Co., Ltd. entered into a vehicle purchase agreement on Sept. 12, 2026, with Ningbo Zhongchong New Energy Automobile Sales Co., Ltd. for 200 battery-swapping electric tractor units, representing an aggregate tax-inclusive purchase price of approximately RMB 120.9 million ($18.02 million), according to a press release. The company expects the vehicles to be deployed in phases across its temperature-controlled line-haul logistics operations in China following delivery and acceptance.
This follows an earlier purchase in December 2025, when subsidiary Ningbo Haoxin International Logistics Co., Ltd. agreed to buy 63 Geely new energy intelligent-driving heavy-duty trucks for approximately RMB 43.155 million ($6.43 million).
Battery-Swapping Partnership
Separately, Ningbo Haoxin entered into a strategic cooperation framework agreement on Aug. 31, 2026, with Qiji New Energy Technology (Shenzhen) Co., Ltd., Yiwu Hengfeng Holding Co., Ltd. and Zhejiang Farizon Xinghan New Energy Commercial Vehicle Co., Ltd. to explore cooperation on new energy heavy-duty trucks, battery-swapping infrastructure and logistics operations. The company said specific projects and investment arrangements under the framework remain subject to further negotiations and definitive agreements.
Trading Metrics, Technical Analysis
Haoxin Holdings has a market capitalization of approximately $5.89 million.
Over the past year, Haoxin Holdings shares have fallen 73.15%.
The stock has traded between a 52-week high of $1.64 and a 52-week low of $0.32.
Benzinga’s Edge Stock Rankings show a negative price trend across short-, medium- and long-term time frames.
Price Action: In the regular session, Haoxin Holdings shares were unchanged at $0.40 on Thursday.
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