China's major hog breeder posts robust net profit growth

New Hope Liuhe Co Ltd, a major hog breeding enterprise in China, saw its net profit topping 5.09 billion yuan (about $762 million) in the first three quarters of the year, up 65.54 percent year-on-year.

The company, which is an affiliate of China's agricultural conglomerate New Hope Group, raked in about 74.79 billion yuan during the period, an increase of 31.4 percent year-on-year.

The growth in both price and sales volume of hogs was the major contributor to profit gain, the company said. It sold a total of 4.34 million hogs during the first three quarters of 2020, up 83.11 percent compared with the same period of last year.

As one of China's leading companies in the agriculture and animal husbandry industry, New Hope Liuhe has been engaged in animal feed, livestock breeding, meat processing and financial investment, operating in nearly 20 countries and regions, including Vietnam, Egypt and the Philippines.