September 2, 2015

Ningbo Tech-Bank sold a total of 138,000 tonnes of feed in the first half of 2015

Based in Ningbo, Tech-bank mainly engages in the manufacture and sale of animal and aquatic feed, food processing and biodiesel. The company announced last week that its operating revenue for the first half of 2015 is RMB1.02 billion (US$160.44 million), down 19.12% year-on-year. This translates to a net profit loss of RMB21.2 million (US$3.33 million), up 28.31% compared to last year.

138,000 tonnes of feed were sold during the first half of 2015, a decrease of 10.84% year-on-year. This is due to a decline in the sales of its common aquatic feed. Nonetheless, the company has seen an increase in its swine breeding business and sold a total of 294,500 pigs for the first six months, up 19.68% from last year. This is mainly due to an increase of 42.18% in its sales of fattened swine.