Aussie dairy products company Jatcorp (ASX: JAT) is having a particularly productive start to the year with its Board of Directors appointing Sunny Jianxin Liang as the new Chief Executive Officer (CEO) of the company. Liang, a seasoned senior business leader with over 13 years of experience in the export industry, particularly in infant formula, health supplements, skin care, and personal care categories, has been an instrumental force in the Company’s growth.
Before assuming the role of CEO, Sunny Liang served as the Chief Operating Officer (COO) and executive director of Jatcorp, overseeing business development and sales functions.
Jatcorp Board Chair, Dennis Shen, said, “We are excited to welcome Sunny to take the CEO position. He brings a wealth of experiences which are well aligned with Jatcorp and will be critical to the achievement of our growth strategy. We wish Sunny every success in this role and look forward to seeing Jatcorp flourish under his leadership.”
Jatcorp is known for producing supplementary food, plant-based products, and dairy items, including milk powder targeted at Asian markets. The unaudited figures for the September quarter indicated total revenue of $20.9 million, a remarkable 186% increase compared to the prior corresponding period, reflecting enhanced international trading and self-branded product sales.
The Company successfully concluded a $28 million production contract with BTNature by the end of the September quarter and announced a renewed contract targeting $30 million in production orders for 12 months from September.
The Moroka product achieved success on the China Tmall platform, ranking third in lactoferrin supplement sales by the end of September. Jatcorp expanded its market presence in Vietnam at a trade exhibition and received replenishment orders from a Taiwan client, expecting continuous growth.
Additionally, it is set to attend the 6th CIIE in Shanghai, showcasing its brands and strengthening distribution in the post-pandemic environment.
Jack Wang, who has served as Managing Director since September 2022, will remain in this role, and will focus on corporate strategic development including ESG, Investor relations, etc. and the Board management.
Looking ahead, Jatcorp faces short-term economic risks, including potential monetary policy tightening and geopolitical issues. However, the Company remains optimistic about the growth of consumption in China and increasing demand for its products. With the improvement in China-Australia trade relations, there is a visible rise in bilateral business activities and collaboration.
Alinda is a Business Reporter for The Sentiment
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