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| Thursday, 30 March 2017, 12:01 HKT/SGT | |
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| Great Increase in the Sales Volume of Raw Milk and Import Trading Business; Revenue Increased by 99.1% |
HONG KONG, Mar 30, 2017 - (ACN Newswire) - China ZhongDi Dairy Holdings Company Limited ("ZhongDi Dairy" or the "Company" ) (stock code: 1492.HK) and its subsidiary companies (collectively referred to as the"Group") is pleased to announce the results for the year ended 31 December 2016 (the "Reporting Period").
The Group mainly operates two major businesses, dairy farming business and import trading business. In the reporting period, the Group's revenue was RMB 961.9 million as compared to RMB 483.1 million for the year ended 31 December 2015, representing a year-on-year increase of 99.1%. The increase was mainly attributed to an increase in the sales volume of raw milk brought by the newly constructed dairy farms and an increase in the revenue of the Group's import trading business. Gross profit of the dairy farming business was RMB 310.2 million and its gross profit margin was 36.2%. Gross profit of the Group's import trading business was RMB 14.0 million and its gross profit margin was 13.2%. Profit attributable to owners of the parent after biological fair value adjustments was RMB 112.8 million, representing a year-on-year increase of 14.9%. Basic and diluted earnings per share was RMB 5.2 cents.
The Group strategically planned the presence of dairy farms to cover seven provinces or regions in Northern China and operated seven modern dairy farms. In the reporting period, the Group's herd size was 55,263, which has increased by 10,592 heads as compared to that as at 31 December 2015, and the average annual milk yield of each lactation cow was 10.7 tonnes. Benefiting from the expansion in size of dairy farms, the sales volume of raw milk amounted to 224,094 tonnes as compared to 100,498 tonnes for the year ended 31 December 2015, representing a year-on-year increase of 123.0%. Meanwhile, the Group strives to produce stable premium quality raw milk with all the indicators outperforming the standards in Europe, US and Japan, in order to maintain a selling price higher than the market average level. The Group has reached long-term purchase and sales strategic partnerships with Mengniu and Yili, the premium quality raw milk produced by the Group was mainly sold for processing into high-end liquid milk.
Furthermore, the Group's contribution to the development of husbandry industry and innovative technology was recognized. In May 2016, the Group was awarded "Advanced Enterprise in the Fourth Session of Awards for the PRC Husbandry Industry", and Mr. Song Naishe, the deputy general manager of the Company, was awarded the title "Advanced Practitioner in the Fourth Session of Awards for the PRC Husbandry Industry". These awards were accredited by authoritative experts from nationwide husbandry systems to recognize companies and individuals with outstanding contributions to the breakthrough in development and scientific innovation of China's husbandry industry.
Looking forward to the future, with an increase in the demand for domestic raw milk from dairy products enterprises in the PRC and the related policies for the dairy industry, the Group will continue to uphold the core of operating, "quality improvement, cost reduction and efficiency enhancement", for enhancing the operational efficiency of dairy farms, reducing operating costs, increasing profitability and enhancing the quality of raw milk with a normalized, standardized, scientific, meticulous and systematic manners. The Group will also continue to adopt systematic and scientific measures of breeding management to improve the genetic characteristics of dairy cows and enhance the overall quality of the cow herbs. For developing recycling in agriculture, reducing costs of farms and enhancing efficacy, the Group will continue to promote management of feed planation. Meanwhile, the Group will develop farming business of bull calves and proactively promote the implementation of feed processing and sales business, in which both of the value of industrial chain and the corporate comprehensive efficiency will be enhanced.
About China ZhongDi Dairy Holdings Company Limited
China ZhongDi Dairy Holdings Company Limited ("ZhongDi Dairy" or "the Company") is a dairy farming company in China, engaging in raising dairy cows, breeding dairy cows, raw milk production and sale, as well as importing and selling dairy cows of quality breeds. ZhongDi Dairy participates in multiple stages of the dairy farming industry value chain in China. Over more than ten years of development, ZhongDi Dairy has grown into a National Flagship Enterprise for Industrialization of Agriculture accredited by the MOA.
ZhongDi Dairy has established a network of dairy farms strategically located in regions suitable for dairy farming in China. As at 31 December 2016, the Company operated seven modernized dairy farms cover seven provinces or regions in Northern China, including Beijing, Hebei, the Inner Mongolia, Liaoning, Ningxia, Shanxi and Tianjin. As at 31 December 2016, the herd size of ZhongDi Dairy was 55,263. Currently, the Company's network of operating dairy farms continues to expand.
Topic: Press release summary
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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