Our core businesses of corn seeds, sheep breeding products and seedlings are all underpinned by our commitment to research and development. Through our in-house facility and by collaborating with China¡¯s leading agricultural institutions and scientists, we have created a culture of excellence and innovation in the agri-business sector.
To date, we have developed four Primalights III corn varieties and have a total of 20 generic and specialised corn seed products in 15 provinces in China. We work with the best agri-scientists in order to develop consumer-safe, high-yield, disease and drought resistant corn products while punctually meeting increasing demands.
The sheep breeding business is another of our high growth and highly profitable divisions. China has the largest sheep flock in the world with over 170 million heads. Livestock market in China is supported with large demand and strong growth in meat consumption. Through supplying frozen semen, embryos, breeder sheep and Primalights III hybrid sheep, Agria has developed right products, which not only suit to the Chinese environment but also offer a vastly improved quality and quantity of meat, to meet this demand.
Our third division, seedlings, requires a level of scientific, technological and logistical expertise that is still in short supply throughout China. Nevertheless, Agria has quickly become a successful pioneer in the field of tissue cultures, nutritional technologies and branch grafting. We also work hand-in-hand with leading research institutions to continually enhance the quality and versatility of our tree and fruit seedlings.
Our balanced portfolio has yielded outstanding growth and profitability. From 2004 to 2006, our revenues experienced dramatical growth.
Our robust growth and high profitability is mainly due to the commitment and vision of our experienced management team. Their international exposure, in combination with their profound local knowledge, will continue to maximize shareholder value for Agria.
Looking ahead, we will expand and enhance the quality and variety of our products, increase sales to our existing clients and build new markets for our high-value products. In addition, we will continue to strengthen our research and development capabilities. We believe that these maneuvers will help to pave the way for our expansion into other high-growth business sectors.
Guanglin Lai
Chairman of the Board / Co-Chief Executive Officer
Agria Corporation