Monday, November 16, 2015

Large Chinese feed companies see positive results

China’s feed industry grew more slowly over the first three quarters of 2015. Influenced by the productivity decline of the animal husbandry industry, the overall sales volume of the animal feed industry was dampened, resulting in slight decrease in revenues for the feed companies.
However, the costs of materials -the prices of the corn and soybean in particular -showed remarkable decrease year on year, therefore a few listed feed companies reported increasing gross margin.
In terms of revenues and net profits, China’s Haid Group, Wellhope Agri-Tech, and Jinxinnong Feed Co. Ltd. performed well.
Haid Group saw total revenues of US$1.25 billion in the third quarter, up 8.31 percent year on year. The accumulated revenues of the first three quarters of the year was US$2.77 billion, increasing 8.16 percent year on year. The net profits of the company in the third quarter was US$69.56 million, an increase of 32.67 percent year on year. The total net profits of the first three quarters amounted to US$114.83 million, up 35.37 percent year on year.
In the first nine months, Wellhope Agri-Tech saw total revenues of US$1.16 million, increasing 9.57 percent year on year. Net profits reached US$32.38 million with a growth rate of 21.39 percent year on year.
For the third quarter, Jinxinnong Feed Co. Ltd. reported gross revenues of US$105.60 million, up 30.47 percent; the accumulated income for the three quarters was US$304.85 million, up 32.10 percent from last year. The net profits of the company in the third quarter was US$8.54 million, increasing 190.26 percent year on year. Total net profits for the first three quarters was US$13.99 million, growing 83.81 percent compared with last year.

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