Gelonghui August 30th 丨Fufeng Group (00546.HK) announced interim results. For the six months ended June 30, 2021, the Group achieved revenue of 9.521 billion yuan (same unit), an increase of 16.6% over the previous year; gross profit of 1,766 million yuan, an increase of 20.2% over the previous year; the profit attributable to the company's shareholders was 591 million yuan, an increase of 55.8% over the previous year; the basic profit per share was HK27.98 cents, and an interim dividend of HK98 per share was declared.

The increase in revenue was mainly due to higher prices for major products. Although the prices of major raw materials rose sharply during the period, especially the cost of corn, the group was able to pass on some of the cost pressure to downstream customers through price increases, thus maintaining profitability.

From a product perspective, the company's main products, including monosodium glutamate and xanthan gum products (which are the world's largest producers, respectively) have brought stable cash flow to the Group. Meanwhile, the company's animal nutrition and premium amino acid products have provided strong growth impetus for the Group.