November 16, 2007

Zhongpin doubles up revenue in Q3

Zhongpin Inc. doubled its revenue for the third quarter due to expansion in production capacity and market penetration.

Total revenues amounted to US$71.3 million or US$0.25 per fully diluted share up by 122.8 percent from last year.

Zhongpin specializes in pork and pork products, as well as fruits and vegetables. With the recent pork price hike in China, the company gained strong revenue growth.

Pork sales were up by 57.3 percent on-year. Chilled pork and frozen pork accounted for 51.9 percent and 34.7 percent of total revenue respectively.

Zhongpin's distribution network covers more than 20 provinces in China and overseas including EU, Japan, South Korea and Russia.