The supplier of probiotics and mycelium health foods had expected the Chinese unit to post 50 percent annual growth in sales, Grape King Bio chairman Andrew Tseng (曾盛麟) told a media briefing in Taoyuan. Shanghai Grape King was affected by lower orders from two of its major clients in China amid a slowing market dragged by stricter marketing regulations and falling consumer spending due to a US-China trade dispute, Tseng said. Sales in China have posted annual declines every month since April, with third-quarter sales falling more than 50 percent from a year earlier, Tseng said. Shanghai Grape King would also begin offering probiotics next year to diversify its product range, he added. Meanwhile, GK Bio International Sdn Bhd, a joint venture by Grape King and Malaysia-based All Cosmos Bio-Tech Holding Corp (全宇生技控股), would begin marketing Grape King’s products next year after gaining approval from Malaysian authorities, Tseng said.

Source: Taipei Times December 04, 2019 15:56 UTC