Sunshine Agri-Tech Inc. has reported a net loss of $136,138 during the recent fiscal quarter ending September 30, compared to a loss of $436,297 during the same quarter in 2010.
The company tripled its biofeed production capacity through a strategic agreement with Jilin University, and refocused its business on the pig sector in China, achieving a 163% increase in sales of its pig mix products. "We have made good progress with our sales efforts into the pig marketplace thru our pig mix product category and are comfortable that we can continue to grow this business with our new capacity," said Baojun Zhang, president and CEO of Sunshine. "We continue to strengthen our position in the organic feed industry through research and development in the area of microbial feed. Our [research and development] activities have been expanded through our Strategic Agreement with Jilin University as well as collaboration agreements with the University of Maryland."
The company has also changed its fiscal year from September 30 to December 31.
