SHANDONG, China, July 9, 2014 (GLOBE NEWSWIRE) -- China YCT International Group, Inc (OTC:CYIG) has recently released its 2013 fiscal year financial results ended March 31, 2014 (Please note that 'CYIG' has a fiscal year starting on April 1 and ending on March 31).
- Financial Results of FY 2013: As of March 31 2014, revenues grew by 2.9% from $33.10 million in FY 2012 to $34.06 million. The total profits increased by 5.9% year on year to $17.93 million.
- During FY2013, the Huoliyuan capsules product sales was $23.08 million, which accounted for 67.8% of the total revenues, and the proportion grew by 6.2% over last fiscal year. The medicine products realized a gross profit of $12.15 million, which grew by 22.1% year on year. The production and distribution of the proprietary products has increased gradually and the proportion is also growing.
- During FY 2013, the Company's gross margin grew by 5.9% year on year to $17.93 million, which accounted for 52.6% of the total net profits, and the proportion increased 1.5% over the last fiscal year. The higher sales proportion is a result of the sales of Huoliyuan capsules, which created a higher gross margin compared to the health care products.
- As of March 21, 2014, the Company invested $1.23 million into scientific research and development, accounting for 3.6% of total revenues. At present, the Company has 27 R&D specialists, all of whom are engaged in the research and development of the new technology and related products.
- With the readings from the financial numbers, the Company has operated its businesses in a temperate and stable way. The research and development of the new products has injected vitality into the company and laid the foundation for the sustainable development of the Company.