April 1, 2014

Dongling posts near-tripling of net profit for 2013

 

Dongling Grain Co. Ltd. (Dongling), a Guangzhou-based soymeal and edible oil processor, posted RMB145 million (US$23.36 million) for its 2013 net profit, representing a whopping increase of 299% on-year.

The company's annual report said that its net profit from soymeal sales soared 160% on-year, while soybean oil sales increased by 14%.

In addition, the company's sales of grains rose by 18% on-year, while sales of its own edible oil product "Zhizhiyuan" surged 200% on-year to 27,000 tonnes.  

Dongling says that the company will further consolidate its grain and oil business and continue to extend its industrial chain into food processing in the future.

The company also plans to broaden its sales channels by building its own electronic commerce platform, as well as promoting its own brand of food products.