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| AgFeed, a Nasdaq listed company, has recently announced a revenue of $144 million in 2008, much more than the $36.16 million in 2007. Of its revenue in 2008, 64% came from hog sales.
The company purchased 30 hog farms in China in 2008, upgrading its hog productive capacity to 650,000 heads/year. The company sold 410,000 heads of hogs in 2008, realizing a revenue of $91.92 million, much more than the $1 million in 2007.
The company¡¯s revenue from feed sales increased from $36.07 million in 2007 to $51.75 million in 2008. So far it has established direct feed supply relationship with 660 hog farms.
The company plans to increase brood sow inventory from 31,500 heads to 50,000 heads in two years. This may enable the company to expand its hog productive capacity to 1 million heads a year.
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