China Agri Industries : announced 2017 annual results - Focus on core business, enhance professional operation. Profit jumped year-on-year

China Agri-Industries Holdings Limited hosted Board Meeting on 28 March and approved the resolutions of 2017 annual results, dividends payment and other issues.
In 2017, China Agri has shifted its strategic goal to capture the market opportunities arising from consumption upgrade, and achieved major progress on focusing on core businesses and brand cultivation. The Company established two platforms for edible oil and grains businesses according to their characteristics to enhance professional operation, operational viability and competitive advantage. We also integrated the edible oil value chain to reach the organic growth potential; shared sales channel of rice and flour products to develop branded business. Operations remained positive momentum, financial performance improved significantly year-on-year. Revenue rose 11.2% over the last year to HK$99,181 million. Profit attributable to the owner of the Company jumped to record high of HK$3,042 million.
Results announcement meeting and other capital market communication was conducted in Hong Kong afterwards to discuss further the 2017 operation and 2018 outlook of industry and business.
Looking ahead to 2018, China Agri has already completed and enhanced the integrated value chain of edible oil and grains businesses. Resources have been generated from assets restructure to further develop core rice, flour and edible oil businesses. The Company will further expand production capacity and scale of branded business, enhancing the supply and sales capability of high value-added products to meet market trend. The ultimate goal is to grow the Company's core businesses and to improve market position.
In terms of business operation, pressure on domestic grain costs are likely to ease with further progress of market-oriented reform, as well as an abundant supply of global oilseeds. But the Company will still face the challenges of intensifying competition and inherent market price volatility. China Agri will continue ensuring stable operation and use our competitive advantage in the integrated value chain to mitigate the impact of market volatility risk. By transitioning towards branded business and increasing the sales proportion of high value-added products, we will keep striving for sustainable profitability under the new business structure.
The board meeting was chaired by Chairman of the Board Mr. DONG Wei. Mr. WANG Qingrong, Executive Director and Managing Director and other senior management of businesses attended the relevant events.