HONG KONG, Aug. 4, 2014 /PRNewswire/ -- Ausnutria Dairy Corporation Ltd ("Ausnutria" or the "Company", together with its subsidiaries, the "Group"; stock code: 1717), a paediatric milk formula company with its production facilities principally based inthe Netherlands and engaged in the dairy industry with activities ranging from the research and development, milk collection, processing, production, packaging inthe Netherlands and marketing and sales of dairy products to the PRC,Europe, North America, Middle East and other overseas countries, has fulfilled all the resumption conditions. The shares resumed trading from9:00 a.m. today and the share price reached the highest atHKD2.4, up 64.38%. The stock closed at HKD2.15, up 47.26% or HKD0.69.
The share price of Ausnutria performing well is in part attributable to management's efforts in the past two years to fulfill the resumption requirements. Ausnutria also achieved outstanding performance in 2013 with significant turnover and net profit growth at 24.9% and 81.5%, respectively, when compared with 2012. Meanwhile, Ausnutria's factory in the PRC was among one of the first batch of factories in the PRC that succeeded in obtaining the renewed production license and the three factories inthe Netherlands were among one of the 41 worldwide manufacturers that succeeded in being approved as the first batch of registered overseas dairy products producers that were granted the registrations for exporting their products to the PRC under the New Policies. Furthermore, all the brands of the Group (including the series of Allnutria, Best Choice, Hyproca 1897, Kabrita, Puredo, Mygood, Lacfor, Eurlate, Neolac, etc.) are listed as the first batch of brands to be granted the approval for exporting the paediatric formula milk into the PRC. The Company hasexcellent development prospects.
The Company considers that under the leadership of the recent Chief Executive Officer, Mr.Bartle van der Meer who has ample international experience in banking, investment and paediatric nutritional products, together with the overseeing role of the independent non-executive Directors, the Group is now managed by a team of professional executives who havea strong background and diversified experience in paediatric nutritional products, consummating the internal governance of the Group.
Mr. Yan Weibin, Chairman of the Company, said, "I am pleased to inform the Shareholders that the Company's shares have resumed trading on4 August 2014 after fulfilling the resumption conditions set out by the Exchange. This is attributable to the support and efforts by our management and the patience and understanding by the Shareholders of the Company. The past two years were complicated and challenging to the Group. While it is the Board's priority to deal with the issues leading to the Suspension, the Company has taken strategic move to comply with New Policies launched by the PRC government and at the same time to build the Group's upstream production and procurement capability in order to capture the growing momentum in the PRC and other overseas markets. We believe that the New Policies launched by the PRC government will improve the national standard for the safety of dairy products and accelerate the consolidation of the paediatric milk powder industry and would eventually lead to the elimination of small and medium enterprises in this industry. We believe that the Group is the only Chinese corporation which possesses a comprehensive production chain in the industry from milk collection, production and packaging to marketing and sales. Looking ahead, we will further strengthen the relationships with our customers and distributors in the PRC; continue the strategy of upward integration; increase the production capacity inthe Netherlands; launch goat milk and cow milk based infant formula to other overseas countries; continue to work withBeijing University for the joint research and development on products and utilizing the production and distribution tracking systems, in order to cater for the long term growth and demand of paediatric nutritional products as well as to fulfill the requirements of government policies and regulations. Last but not the least, the Group will continuously and proactively strengthen its corporate governance so as to establish a solid foundation for future growth and enhance the confidence of shareholders and potential investors. The Group will continue to strive for the highest returns and value to the Shareholders in the long run."
About Ausnutria Dairy Corporation Ltd
Ausnutria Dairy Corporation Ltd is a leading paediatric milk formula company with its production facilities principally based inthe Netherlands and engaged in the dairy industry with activities ranging from the research and development, milk collection, processing, production, packaging inthe Netherlands and marketing and sales of dairy products to the PRC, Europe, North America, Middle East and other overseas countries. For the year ended 31 December 2013, revenue of Ausnutria amounted to approximately RMB1,688 million, representing an increase of approximatelyRMB337 million from approximately RMB1,351 million for 2012. Despite of the share suspension since April 2012 and the New Policies as implemented by the PRC government, the Group was able to maintain a steady growth in both its turnover and operating results for the past two years.
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SOURCE Ausnutria Dairy Corporation Ltd