China Yurun Food Group
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China Yurun Food Group has halted the trading of its shares on the Hong Kong stock exchange after its subsidiary, Nanjing Yurun Food Co., defaulted on government-issued debts.
China Yurun Food Group recorded a net loss in 2012 as the company battled with a poor macro-economic environment, fluctuating hog prices and increasing costs.
China Yurun Food Group saw its shares drop today (1 November) after the meat processor reported a slump in third-quarter profits.
China Yurun Food Group has seen profits soar in the first half of the year as sales jumped.
The owner of New Zealand poultry firm Tegel Foods has confirmed it is mulling the future of the business.
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