See more facts about CZO, its presence in China and the strong demand from China for its beta glucan.
Specifically, CZO noted in its annual report for 2019 that it experienced
a 86% YoY increase of sales of beta glucan thanks to the Chinese demand, facts below:
- Total sales of $3,721,000 for the fourth quarter of 2019 and $12,880,000 for the full year of 2019 compared to $4,467,000 and $11,593,000 for the comparative periods in 2018.
- The 11% increase of sales for the full year 2019 results from an 86% increase of beta glucan (mostly made to China) partially offset by an 8% decrease in avenanthramides. For the fourth quarter 2019, sales of beta glucan increased by 242% while avenanthramides sales decreased by 34% as compared to Q4, 2018 which was the highest quarter in Ceapro’s history.
https://www.globenewswire.com/news-release/2020/04/16/2017361/0/en/Ceapro-Inc-Reports-Fourth-Quarter-and-Full-Year-2019-Results-and-Highlights.html
The strong YoY growth continued in 2020 and CZO noted in Q2 2020 that:
https://www.globenewswire.com/news-release/2020/08/20/2081403/0/en/Ceapro-Inc-Reports-2020-Second-Quarter-and-Six-Month-Financial-Results-and-Operational-Highlights.html
- Total sales of $4,666,000 for the second quarter of 2020 and $8,939,000 for the first six months of 2020 compared to $3,054,000 and $6,251,000 for the comparative periods in 2019.
- The 43% increase in sales for the first six months is mainly due to a significant increase in sales of avenanthramides as well as an increase in sales of beta glucan to China, compared to the same period in 2019.
As a result, CZO recently stated that it will deliver
double-digit revenue growth in 2020 versus 2019, facts below:
Looking ahead, while taking into account the ongoing potential economic impact related to COVID-19 and evolving consumption trends, we believe Ceapro is well-positioned to once again deliver a solid double-digit growth in sales over 2019. With a strong balance sheet, a group of dedicated people, and a solid base business coupled with the innovative technologies and products that we have developed to enable us to expand, Ceapro is poised to emerge as a successful Life Science company,” concluded Mr. Gagnon.