On December 8, 2023 (local time in Australia), the Australian Pesticides and Veterinary Medicines Authority (APVMA) announced on its official website that Abamectin 18 g/L emulsifiable concentrate (EC) from Shandong Bainong Sida Biotechnology Co., Ltd. ("the company") had been formally granted an overseas self-owned registration in Australia.
The company accelerated the rollout of its international business in the second half of the year, conducting pesticide product registrations in major target markets around the world. Going forward, it will progressively raise the share of revenue generated by products under its own registrations: the gross margin on self-registered products can be lifted to above 25%, far exceeding the profitability of traditional trading products.
The company will continue to expand into international markets, and its overseas business is expected to push overall performance to a new level.
In related good news, BNSD in the Economic Development Zone was recognized as a Shandong Province SME Innovation R&D Center; the company received a credit rating of AA in the published results of the 2023 pesticide industry agro-inputs credit evaluation; and BNSD products were named on the 2023 Green High-Quality Pesticide Products list.