AUSTRALIA – Australian milk powder specialist, Jatcorp, has announced the appointment of Sunny Jianxin Liang as its new Chief Executive Officer (CEO), effective immediately.
Liang, who previously served as the Chief Operating Officer (COO) and Executive Director of the company, will now lead Jatcorp in its strategic growth initiatives.
Having managed Jatcorp’s business development, Jianxin Liang brings over a decade of experience in the export sector, with a specific focus on infant formula, health supplements, cosmetics, and personal care.
Under his new role, he will receive an annual salary of A$230,000 (US$154,010) along with superannuation, working under a three-year contract.
Zhan (Jack) Wang, who has been serving as Jatcorp’s managing director since September 2022, will continue in his position.
Wang’s responsibilities will include the development of corporate strategic development, with a focus on Environmental, Social, and Governance (ESG), investor relations, and board of directors management.
“He brings a wealth of experiences which are well aligned with Jatcorp and will be critical to the achievement of our growth strategy,” Dennis Shen, Board Chair at Jatcorp, said while welcoming Sunny into the CEO position.
“We wish Sunny every success in this role and look forward to seeing Jatcorp flourish under his leadership.”
Jatcorp manages a diverse portfolio of dairy and nutrient products targeted at consumers in the Asia Pacific region. This includes cow, camel, and goat milk powder formulas containing Lactoferrin, designed for both infants and seniors.
In its latest financial figures for the year ended June 30, 2023, Jatcorp reported substantial revenue growth of 68.02%, reaching A$57.4 million.
Gross profit also witnessed a significant increase of 181%, rising from A$4 million to A$11 million, with the gross profit margin increasing from 11.72% to 19.59%.
Despite a net loss after tax on continuing operations of -A$2.5 million, reflecting a 60% reduction, Jatcorp remains optimistic about its future.
International market products contributed 42.2% of the total revenue for 2023 at A$24.2 million, marking a 16.5% increase since 2022.
Eyeing further expansion, Jatcorp plans to enter the Chinese market through major e-commerce platforms and local sales channels in Taiwan and Hong Kong.
The company also aims to penetrate deeper into the Southeast Asian market through exhibitions and local partnerships, especially in Vietnam.
Beyond its dairy-focused endeavors, Jatcorp has been actively pursuing opportunities in plant-based proteins.
The company’s strategic moves in this space include a joint venture with Oppenheimer Pty in 2019 and an agreement with China in 2020 to produce plant-based meat for the Chinese market. Discussions about potential partnerships and expansions in this sector continue.
