October 20, 2013

Tongwei reports huge gains in first three quarters of 2013

Tongwei Co., Ltd. (Tongwei) announced its financial report for the first three quarter of 2013 on September 17. The company realised an operating income of RMB11.894 billion (US$1.95 billion), an increase of 9.99%; while its net income in the same period soared by 98.55% on-year to RMB291 million (US$47.74 million).

The company says that the profit gain is an outcome of marketing and sales expansion, and the continued investment in its product research and development. The company adds that the resulting technological advancement has improved the quality and brought up a notch in the price range of its end products.

The major share of the gains comes from Tongwei's feed business, especially the aqua feed segment.

Tongwei mainly engages in the production of feed, chemical and energy products. Its feed products include concentrated and premixes hog, ruminant, poultry and aqua feed. The company is also involved in food processing business and the manufacturing and sale of animal drugs.