Sino Agri Union Biotech to launch wholly-owned subsidiary in Hong Kong
Date:05-03-2017
Shandong Sino Agri Union Biotech has declared a stable income growth of 4.96 percent for 2016, having reached 952 million yuan, the company's annual report for the year showed. The net profit attributable to shareholders decreased 13.49 percent, which was down to 72.898 million yuan. In the meantime, the company announced the setting up of a wholly-owned subsidiary in Hong Kong in the name of United Plant Protection Co. Limited.
While the increase in its business income was stable, its net profit dropped. The increase in the income was mainly due to the company’s efforts toward development in key international markets and domestic small pack formulations market.
The company completed its 800-ton neonicotinoid project and put it into production by the end of 2016. It also started the construction of the 5,000-ton pesticide formulation project, and completed the main construction works for the 2,000-ton dicamba technical project.
The company also announced that United Plant Protection Co. Limited would be established with a registered capital of HKD100,000. The objective is to expand its international business and distribution channels toward the global strategy of the company.
Sino Agri Union Biotech is the world’s largest neonicotinoid technical production enterprise, as well as the sole imidacloprid and acetamiprid producer with full industry chain. Besides technical material, Sino Agri Union Biotech manufactures formulations that include insecticide, miticide and fungicide, covering more than 100 product varieties with a total production capacity of 10,000 tons. The company owns its proprietary product fluoride ether bacteria amide (generic name is Lianhe Number One). The overseas trade territory of the company covers Asia, Middle East, South America and North America.
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