August 21, 2014

Tech-Bank's operating income rises significantly in H1 2014

Ningbo Tech-Bank Co., Ltd. realized operating income of RMB1.04 billion (US$169.18 million) in the first half of 2014, a surge of 30% on-year.

The company generated revenue of RMB676 million (US$109.96 million) from sales of feed and raw materials, an increase of 28% on-year. Revenue from biological products was up by 33% to RMB54.16 million (US$8.81 million), while revenue from petrochemical products soared 46% to RMB266 million (US$43.26 million). 

Tech-Bank says the consolidation of the livestock industry continues to drive the integration of farms, which has also increased the risk of animal diseases. This has pushed up the demand for animal health products and vaccines. The company is tapping into the trend and will continue to improve its production technology and process of the animal health products.