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Net profit of Longlive Biotechnology in H1 2015 down by 51.1%

On 26 Aug., 2015, Shandong Longlive Biotechnology Co., Ltd. (Longlive Biotechnology) published its H1 2015 report, according to which the company’s revenue and net profit went down by 1.6% and 51.1% year on year respectively. There were four main reasons behind the under performance of the company in the report period. Firstly, in 2014, the company performed greatly as it got subsidies from fiber ethanol from Q4 2012 to 2013 (totaled USD4.7 million) to 2014 while it only got subsidy from H1 2015. Secondly, the subsidy standard of fiber fuel ethanol was adjusted from USD124.9/t in 2014 to USD93.7/t in 2015. Thirdly, in Q1 2015, the company’s supply of fuel ethanol to China National Petroleum Corporation declined. Fourthly, under the effect of reducing international oil price, the average sales price of the company’s fuel ethanol fell.

 

 

Longlive Biotechnology: revenue decreases, net profit increases in 2014

On 26 March, 2015, Shandong Longlive Biotechnology Co., Ltd. (Longlive Biotechnology) published its 2014 annual report. Accordingly, the company’s revenue decreased by 16.2% year on year as the sales from starch sugar products shrank; its net profit rose by 18.7% year on year mainly because the company received subsidy for its fiber fuel ethanol.

 

Longlive Biotechnology’s fiber ethanol enjoys tax preference

On 3 Nov., 2014, Shandong Longlive Biotechnology Co., Ltd. (Longlive Biotechnology) published a notice that the Ministry of Finance of China and the State Administration of Taxation had already noticed the Shandong Provincial Financial Bureau about the tax policy of non-grain fuel ethanol, and the main content of the notice is as follows:

 

Subsidiary of Longlive Biotechnology finishes registration

On 12 Nov., 2014, Shandong Longlive Biotechnology Co., Ltd. (Longlive Biotechnology) announced that it had recently finished the registration of a subsidiary of it in Longjiang County, Heilongjiang Province, which had obtained an operation license from the commerce and industry department.

 

Net profit of Longlive Biotechnology in Q1-Q3 2014 USD14.2 million, up by 53% year on year

Shandong Longlive Biotechnology Co., Ltd. (Longlive Biotechnology) published its Q3 2014 report, according to which in the first three quarters of 2014, the company realized a net profit of USD14.2 million, up by 52.57% year on year. In the meantime, it got a revenue of USD90.9 million, down by 15.71% year on year.