October 30, 2013
Truein Group yet to see return on its investment
In the statement of the company's financial results for the first three quarters of 2013, Truein Group Animal Husbandry Co., Ltd. (Truein Group) says that it realised an operating income of RMB1.26 billion (US$206.80 million), an increase of 11.66% on year; while its net income stayed at RMB68.58 million (US$11.25 million), a plunge of 74% on-year.
While the company benefited from the rise in hog prices in the third quarter, it was outpaced by the higher cost for the company's investment in expansion projects. As of the date of the statement, Truein Group reported RMB1.25 billion (US$205.14 million) for the total cost of its expansion projects.
Truein Group is a major livestock company in China. The company engages in the breeding, slaughtering of hogs, manufacture and sale of pork products, as well as cold chain logistics, the processing of feed and cooked food.
