Revenue during the quarter surged 38.46 percent to $377.66 million from $272.75 million in the previous year period. Gross margin for the quarter expanded 272 basis points over the previous year period to 21.75 percent. Total expenses were 88.73 percent of quarterly revenues, up from 84.49 percent for the same period last year. That has resulted in a contraction of 423 basis points in operating margin to 11.27 percent.

Operating income for the quarter was $42.58 million, compared with $42.30 million in the previous year period.

"We are pleased to have met our revenue and net income guidance for 2016 abetted by strong customer demand from new growth regions in the fourth quarter. Our robust financial results for the fourth quarter of the year and solid results for fiscal year 2016 are consistent with our expectations of a steady recovery throughout China's automotive supply chain," said Jie Han, chairman of the board of directors and chief executive officer. "According to the China Association of Automobile Manufacturers, automobile production in China increased by 14.5% in 2016 as compared to 2015. An improved macroeconomic environment has improved business conditions and helped us to generate stronger profit margins."

The company has spent $148.59 million cash to meet investing activities during the year as against cash outgo of $280.34 million in the last year.

Cash flow from financing activities was $121.84 million for the year, down 7.51 percent or $9.90 million, when compared with the last year.

Cash and cash equivalents stood at $168.09 million as on Dec. 31, 2016, up 40.16 percent or $48.16 million from $119.93 million on Dec. 31, 2015.

Working capital increases marginally
China Xd Plastics Company Ltd has recorded an increase in the working capital over the last year. It stood at $239.50 million as at Dec. 31, 2016, up 3.96 percent or $9.12 million from $230.38 million on Dec. 31, 2015. Current ratio was at 1.23 as on Dec. 31, 2016, down from 1.32 on Dec. 31, 2015.