Early April 2020, China’s leading pet food maker “Wanpy”Yantai China Pet Foods Co., Ltd. informed about an annual growth of almost 40 percent in net profit 2019 attributable to shareholders of the listed company in 2019. One, if not THE key driver for success was the business in overseas markets:
The booming overseas market helped its overseas sales reach 1.37 billion yuan, up 18.37 percent annually and accounting for 79.83 percent of total revenue. Its products are mainly exported to the United States, the EU and Japan.
It will be interesting to see, if next year’s figures can meet Yantai’s net profit 2019 or even improve, considering the influence of Covid19.
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