Overseas investors, rejoice! Share prices for the Shandong Zhouyuan Seed and Nursery Corp. (OTCBB: SZSN) were up more than 36 percent this morning, thanks to today’s announcement of the company’s increased sales for 2007.According to the Shandong’s latest statement, the company’s sales income for the second quarter of 2007 – more than RMB $2 Million (approximately $256,400 U.S.) – increased 37.6 percent over the sales figures for the previous year.
Wang Zhigang, Shandong’s president, attributed the increase to the company’s new line of hybridized seeds.
“During the second quarter of 2007, we continued to benefit from the promotion of our new kinds of seeds,” Zhigang said. “In fact, we experienced significant net income and balance while maintaining our strong sales network and asset quality, continuing the trends we experienced in the first quarter of 2007 and last year.”
A high-tech seed and nursery corporation, Shandong grows, produces, and markets its high-starch seeds for industrial food production chiefly in China, although it also sells them for agricultural services. The statement also said that the company’s newest products – Huiyuan 20, New Yedan 5, and Baima Wangzi, all corn seed hybridizations – carried “excellent characteristics” for seed growth, including strong yield potential and disease resistance.
Shares for the company rose to 45 cents a share by 11:00 a.m. CDT.
