Quote from Morning note : -------

High Focus International Limited , a substantial investor , reduced their holding of share from 7.96% to 6.87%

China Minzhong Food posts 93% rise in 3Q net to $49.6m

China Minzhong Food Corporation saysit posted a 92.9% increase in net profit to RMB261.1 million ($49.6 million) for the 3 months ended 31 March 2011 (3QFY2011) compared to RMB135.3 million in 3QFY2010.

Revenue increased 34.3% to RMB703.9 million, underpinned by growth in both its processed vegetables and fresh vegetables produce segments.

Revenue from the processed vegetables grew 26.1% to RMB501.3 million in 3QFY2011, driven by a continued focus towards a higher-value product portfolio, which lifted average selling prices by 29.5%.

Revenue from fresh vegetables produce increased 60.1% to RMB202.7 million, attributed to a 46.1% growth in cultivation volume and higher average selling prices.

The improved cultivation volume comes on the back of better yield from maturing farmland and newly acquired farmland, of approximately 9,000 mu, making maiden contributions in 3QFY2011.



3QFY2011 gross profit grew 53.3% to RMB330.9 million, in tandem with the increase in revenue. Overall gross profit margin improved by 5.8ppt to 47.0%, on the back of better gross profit margins for both processed vegetables and fresh vegetables produce.

 

 

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To reach financially freedom, you need to invest.
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It is just about 7 lots of China MZ for 1 unit of land.
Where?
http://www.youtube.com/watch?v=kMOvjDJeOuQ                                                                                                                                          
                                                                                                                                                                                         

How?
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