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The press release from Guangzhou, China, reports the filing of Form 8K for the annual report 2021 by SIAF on March 29, 2022. It highlights that total consolidated revenues reached $10,582,565, with gross profits of $4,329,605, a rise from $9,892,398 and $7,567,647 in 2020. Revenue growth is attributed to the appreciation of RMB. The investment in SJAP resulted in a loss of $3.5 million, while Tri-way incurred a loss of $52.06 million. The company's operations include organic fertilizer, cattle farms, and plantations, mainly generating income through leasing contracts.
Sino Agro Food (SIAF) issued a report on August 10, 2021, detailing significant impacts from the COVID-19 pandemic. The company has transitioned from OTCQX to OTC Pink due to delinquent financial filings from 2019 and 2020. Total revenues for the first half of 2021 are $5,242,971, with leasing and contracting revenue driving earnings. A notable recovery is observed in the investment division, showing a gain of $52,646 compared to a loss of $14,094,773 in the same period last year. The company continues to navigate operational challenges amid ongoing pandemic restrictions.
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