HONG KONG, Nov. 14, 2013 (GLOBE NEWSWIRE) -- Sino Bioenergy Corp. (OTC Pink:SFBE) (Borse Berlin:3SF) today announced record quarterly sales and profit for the quarter ending September 30, 2013.
SFBE had revenues of US$6,044,539 and a net profit of US$201,427 for the quarter. Our 55% owned subsidiary, Huizhou Shi Ji Wu Feng Agricultural Biotechnology Co. Ltd., ("HB") successfully harvested at end of September two cultivated rice plantations. The cultivation bases are located at Huizhou and one at Jiangsu in China.
Daniel Mckinney, CEO commented, "we are pleased with our performance and sales growth this quarter and look forward to a full year profit for 2013."
The Company targets to double sales revenue next year in 2014 by expanding its rice cultivation bases in China and overseas and via rice seed sales.
SFBE's super rice seeds are disease resistant, high yielding genetically improved rice with the hybridization rice grain length increased by 25% over normal rice. It produces lower chalky rice with a 23% weigh gain and 10% grain number increase. Further, with our seeds and organic fertilizer, three or four rice harvests are achievable per year instead of the usual two harvests per year using conventional rice seeds and up to 400% more productive using our complete system. The super seeds are produced in our HB laboratories.
About Sino Bioenergy Corp.
Established in May 2005, Sino Bioenergy Corp. is a Nevada Corporation that trades on the OTC Pink (symbol: SFBE) and Bourse Berlin Exchange (symbol: 3SF). Please see our websites at: www.sinobioenergy.com Fully diluted shares outstanding: 711,915,750 as of November 1, 2013.
This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.