On 1 July 2008, the company announced that its net profit in 1H '08 is expected to rise by more than 2,068%. The company has sold certain plots to the Yuyao Land Resource Centre for RMB 112.26 mln, payment for which was received on 30 June 2008. An after-tax gain of RMB 81.87 will be booked as part of fiscal 2008 net profit.

Investment highlights: As the largest manufacturer of aquatic feed in China, the company is engaged in the production and sale of feed for fresh and saltwater fish. It has adopted world-class production lines and production techniques to develop green aquatic feed under the 'Tianbang' brand. It has been involved in a number of provincial scientific research programs including the 'National New Products Project' and the 'National Spark Program Project'.

Risk warning: The company is facing risks from rising raw materials costs and decreasing prices for its products.


Source: www.topcj.com

Date: 2 July 2008

CN01/BG/MZ/AR/MM