• Agri Bank China average gross margin for 2023 was 58.3%, a 7.33% decline from 2022.
• Agri Bank China average gross margin for 2022 was 62.91%, a 2.01% decline from 2021.
• Agri Bank China average gross margin for 2021 was 64.2%, a 0.67% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.