New Dragon Asia
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| New Dragon Asia Corporation | |
| Type | Public (AMEX: NWD) |
|---|---|
| Founded | 1999 |
| Headquarters | Shenzhen, Guangdong, China |
| Key people | Heng Jing Lu, Chairman Li Xia Wang, CEO and Director |
| Website | www.newdragonasia.com |
Headquartered in Shandong Province, P.R.C., with a corporate office in Shenzhen, New Dragon Asia Corp. is engaged in the milling, sale and distribution of flour and related products, including instant noodles, to retail and commercial customers throughout China. The Company markets its well-established product line through a network of more than 200 key distributors and 16 regional offices in 27 Chinese Provinces with an aggregate production capacity of approximately 110,000 tons of flour and more than 1.1 billion packages of instant noodles.
New Dragon Asia manufactures food products and provides food-brokerage services. Formerly a grain and oil processing group, the company now makes and sells instant noodles (Long Feng and other brands) to the growing market of on-the-go, Chinese middle-class. Though New Dragon produces more than a billion packages of instant noodles each year, the product line accounts for less than half of sales; the rest comes from milling and selling wheat flour. The company also produces and markets soy-milk powder and dried seasonings.
As of 2005, the company had approximately 1500 employees, and sales of $44.2 million
The company filed an initial public offering of stock on June 29, 1999 with a proposed offer price from $10 - $12. The filing was successful and the company went public on March 29, 2000 with an initial stock price of $10 per share.
Chairman Heng Jing Lu owns 68% of the company's stock.
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