Peanut protein cake or peanut protein meal is the by-product of peanut oil production. It is the residue after the extraction of peanut oil. A grain of peanut can be transformed into approximately 45% to 50% of oil and approximately 50% to 55% of peanut protein cake. Peanut protein cake has high protein and fibre content and is used primarily as animal feed.
Henan XingHe’s peanut protein cake is sold directly to end customers in animal feed manufacturing. The company’s sale of peanut protein cake is exempted from VAT output tax pursuant to the exemption granted by the State Administration of Taxation of the PRC (国家税务总局) under Directive No. 121 (2001) on VAT exemption for animal feed products.