Renmin Tianli Group, Inc. Reports Unaudited Financial Results for the Second Quarter 2018
RENMIN TIANLI GROUP INC (ABAC)
US:NASDAQ Investor Relations:
aoxintianli-china.com
Company Research
Source: PR Newswire
WUHAN CITY, China, Aug. 20, 2018 /PRNewswire/ -- Renmin Tianli Group, Inc. (NASDAQ: ABAC) ("Renmin Tianli" or the "Company"), a producer of breeder hogs, market hogs and black hogs, as well as specialty processed black hog pork products sold through retail outlets and the internet, with headquarters in Wuhan City, Hubei Province, China, today announced its financial results for the three and six months ended June 30, 2018.Mr. Luchang Zhou, Chief Executive Officer of Renmin Tianli, commented, "Despite a 20% increase in the number of hogs sold from our hog farming business, overall revenues decreased slightly during the second quarter primarily due to decreases in average selling prices for both hog farming and retail as well as a decline in retail sales volume. Overall margins and profitability also decreased on a year-over-year basis as the hog industry faced continued pricing pressure on the back of increased hog supply and sluggish consumer demand. However, we have seen an improving
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