April 19, 2004

China's Feng Yuan Group's 1st Quarter Profitability Rose on Increased Lysine Production Capacity

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Since entering the lysine business, China's Fang Yuan Group Co., Ltd.'s annual lysine production capacity has reached 20,000 tons, giving the company a 50% increase in its quarterly net profit.

During the first quarter of 2004, Fang Yuan realised sales of RMB62.4 million, an increase of 99.05% over same period last year, achieving a net profit of RMB4.13 million.

Company officials said that the substantial increase in income is primarily due to the increase in production capacity to 20,000 tons of lysine per annum.