October 25, 2013

Huaying reports 225% drop in profit for first three quarters of 2013

Henan Huaying Agricultural Development Co., Ltd. (Huaying) released its financial report for the first three quarters of 2013 on October 24. From January to September, Huaying generated an operating income of RMB1.249 billion (US$205.16 million), slid by 6.77% on-year; while its net loss reached RMB96.63 million (US$15.87 million), plummeted by 225%.

The company cites the H7N9 outbreak, which devastated the sale of its poultry products, for the huge losses.

Huaying mainly engages in the breeding and hatching of poultry. It is also involved in the sale of seedlings, breeding, slaughtering, and processing of broilers and meat ducks, as well as the manufacture and sale of poultry products and feedstuffs.