Jiangxi Zhengbang gains from high Chinese pork prices

Benefiting from the rising prices of pork in China, the performance of Jiangxi Zhengbang Technology Co. Ltd. in the first half of 2015 increased substantially. The company recently released its semi-yearly report. According to the report, the gross revenue of the company reached US $1.3 billion, increasing 10.30 percent year-on-year; the net profit of the shareholders was around US$1 million, reported Haitong Securities Co. Ltd.
In the first half of year 2015, the feed sales volume amounted to 2.22 million metric tons, with the sales revenue being US$1.12 billion, an increase of 8.65 percent year-on-year. Of the total sales volume, the pig feed sales volume summed up to 1.04 million metric tons, increasing 5.57 percent year-on-year. And the poultry feed sales volume grew up to 1.09 million metric tons, increasing 8.06 percent year on year.
According to the statistics of MOA, in June, the number of national pig stock declined to 385 million head, registering the lowest level since 2008. The company is positive about the performance of the first three quarters and predicts that the company will make up the deficits and get surpluses from January to September in 2015; the net profit is expected to be US$18.79 million to US $21.19 million.
Jiangxi Zhengbang Technology Co. Ltd., of which Zhengbang Group is the holding company, was listed in 2007.