April 27, 2005

China Global Bio-chem announces healthy profits for 2004

Global Bio-chem's 2004 financial statement showed hefty net revenues of HK$815 million, an increase of 57 percent from 2003. Dividend per share was 39 cents for the year.

Global Bio-chem Chairman, Liu Xiaoming said that last year's high prices for lysine, which averaged at RMB15,000/tonne, had helped bump up earnings.  In addition, technology advancements also lowered production cost, contributing to gross profit ratio of about 40 percent. 

Since production first commenced at its plant in Jilin province's Dehui city, total lysine production for the group has risen to 240,000 tonnes, revealed Liu, or 30 percent of worldwide lysine sales.  Production of another 100,000 tonnes of glutamic acid, expected to commence by end-2005, will continue to sustain the group's high growth in the future, said Liu.