October 25, 2013

Yisheng's profit plunges by 449.5% in first three quarters of 2013

Shangdong Yisheng Livestock & Poultry Breeding Co., Ltd. (Yisheng) released its financial results for the third quarter of 2013 on October 23. The company's revenue reached RMB123 million (US$20.23 million), a drop of 7.19% on-year; while its net loss totalled RMB53.78 million (US$8.84 million) in the same period.

In the first three quarters of 2013, the company realised an operating income of RMB392 million (US$64.47 million), slipped by 15.68% on-year; while its net loss topped RMB147 million (US$24.17 million), a staggering fall of 449.5% on-year.

The company says that the plunge in chicken prices, which was caused by the H7N9 outbreak this year, is the main reason for the tumble of its performance. It also blames the increase in its operating cost for the profit slump. 

Yisheng mainly engages in the production and distribution of poultry and cattle, parent-stock breeder chickens, breeding of progenitor chickens, as well as broiler farming and the manufacture of feedstuffs.