JAT reports $53.9M as China’s demand for baby formula grows

Jatenergy released a high performing quarterly report and announcing a nine-month gross revenue to 31 March of $53.9 million.

Jatenergy is a company specialising in milk formula sales from Australia to China.

Gross revenue for the March 2019 quarter was $20.53m.

Jatenergy firmly stated the strong sales performance comes from a recent partnership with Chinese distributors HIT Crown. HIT Crown manages online medicine sales platform China Golden.

China Golden services over one million pharmaceutical companies, hospitals and consumers.

The company also announced two new sales agreements for its products. A five-year agreement with Guangzhou Niurui Trading Company has been signed.

This agreement will see Jatenergy formulas distributed into 150 Babemax maternal retail outlets.

Guangzhou will purchase 1.5 million tins of Neurio Lactoferrin milk powder. Jatenergy also signed a one-year agreement to sell through online store Bon Bon and its Wanwustore subsidiary.

The company expects to begin sales of a new milk formula for adults in May this year. Jatenergy also secured a trademark on Green Forest’s NSW sourced canola oil, to be released in May also.

Jatenergy’s ‘Golden Koala’ product range is currently selling well in the Chinese market. The company continues plans to establish a manufacturing plant in Australia.

Jatenergy rose 1.72 percent in the ASX today.

Please see the announcement attached