2014 Dentons Annual Report: Net loss of HK$3.77 billion, down 39.59% YoY

20142013earnings (HK$100 million)6497-34.02%gross loss (HK$100 million)8.99.01-1.22%net loss (HK$37.7162
.42-39.59%the decline in TPE's financial performance was mainly due to the decline in the average selling price and demand of the Group's products, particularly as the Group's sales of Lysine products were affected by intense competition in the market, and the average cost of corn pellets increased by about 1% over the same period last year to HK$2,588 per metric ton (2013: 2,559) HKD)TPE
　　Amino acid division TPE (earnings: HK$3.4 billion (2013: HK$5.6 billion)) TPE (gross loss: HK$511 million (2013: HK$404 million) TPE amino acid division comprising lysine, protein lysine, suthine and other products, as well as other products such as starch degeneration and corn refining products In the year, the division's revenue decreased by about 40%, mainly due to the squeeze on average selling prices and reduced demand for products TPE
　　The earnings and gross loss of major amino acid products such as lysine, protein lysine and sulsine were about HK$210 million (2013: HK$440 million) and about HK$312 million (2013: HK$160 million), accounting for about 33% of the Group's total revenue (2013: 45%) respectively TPE
　　Among the major products, the application of lysine products as animal feed additives has become a major contribution to the Group's operations The average selling price of lysine continued its downward trend since the last quarter of 2012, resulting in a significant increase of about 12% in gross loss compared to last year This retrogression cycle is mainly attributable to new capacity in the market and the adverse effects of the outbreak of H7N9 avian influenza The slowdown in demand for animal feed and intense competition led to a 44% year-on-year decrease in the volume of sales Due to the increasing production costs, the division recorded revenue of approximately HK$88 million (2013: HK$2.52) and gross loss of about HK$0.23 million (2013: HK$0.27 billion gross margin) In the year, the volume of sales of corn refined products increased by about 35%, resulting in an increase of about 24% in revenue over the same period last year to about HK$1.23 billion (2013: HK$990 million) The gross and gross loss rates of upstream corn refining products were about HK$196 million (2013: HK$136 million) and about 16% (2013: 14%) TPE
The average selling volume (tons) of amino acid (tons) per ton (HKD) cost per ton (HKD) (HK$10,000) 2014 331605 621605 6294 7103 208719 2013 5 88829 7459 8042 439178 -43.68% -15.62% -11.68% -52.48% TPE TPE 2014 2013 earnings (HK$100 million) 64 97 -34.02% gross loss (HK$100 million) 8.9 9.01 -1.22% net loss (HK$37.71 62
.42 -39.59% the decline in TPE 's financial performance was mainly due to the decline in the average selling price and demand of the Group's products, particularly as the Group's sales of Lysine products were affected by intense competition in the market, and the average cost of corn pellets increased by about 1% over the same period last year to HK$2,588 per metric ton (2013: 2,559) HKD) TPE
　　Amino acid division TPE (earnings: HK$3.4 billion (2013: HK$5.6 billion)) TPE (gross loss: HK$511 million (2013: HK$404 million) TPE amino acid division comprising lysine, protein lysine, suthine and other products, as well as other products such as starch degeneration and corn refining products In the year, the division's revenue decreased by about 40%, mainly due to the squeeze on average selling prices and reduced demand for products TPE
　　The earnings and gross loss of major amino acid products such as lysine, protein lysine and sulsine were about HK$210 million (2013: HK$440 million) and about HK$312 million (2013: HK$160 million), accounting for about 33% of the Group's total revenue (2013: 45%) respectively TPE
　　Among the major products, the application of lysine products as animal feed additives has become a major contribution to the Group's operations The average selling price of lysine continued its downward trend since the last quarter of 2012, resulting in a significant increase of about 12% in gross loss compared to last year This retrogression cycle is mainly attributable to new capacity in the market and the adverse effects of the outbreak of H7N9 avian influenza The slowdown in demand for animal feed and intense competition led to a 44% year-on-year decrease in the volume of sales Due to the increasing production costs, the division recorded revenue of approximately HK$88 million (2013: HK$2.52) and gross loss of about HK$0.23 million (2013: HK$0.27 billion gross margin) In the year, the volume of sales of corn refined products increased by about 35%, resulting in an increase of about 24% in revenue over the same period last year to about HK$1.23 billion (2013: HK$990 million) The gross and gross loss rates of upstream corn refining products were about HK$196 million (2013: HK$136 million) and about 16% (2013: 14%) TPE
The average selling volume (tons) of amino acid (tons) per ton (HKD) cost per ton (HKD) (HK$10,000) 2014 331605 621605 6294 7103 208719 2013 5 88829 7459 8042 439178 -43.68% -15.62% -11.68% -52.48% TPE TPE shared it on the feed's tweets