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| Thursday, 29 October 2020, 12:55 HKT/SGT | |
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HONG KONG, Oct 29, 2020 - (ACN Newswire) - According to SCMP: According to the recently announced third quarter performance forecasts, all major listed breeding companies have recorded varying degrees of profit growth. Meanwhile, Huaan Securities believes the price of live pigs has stabilized and rebounded, and is expected to remain relatively high in 2020-2021. In terms of new IPOs, Sichuan Tianzow Breeding Technology Co., Ltd. (1248.HK), a newcomer in the industry, began its public offering period from October 29 to November 6 and has priced its shares at a price ranging between HK$26.00 to HK$38.80. The company plans to become listed publicly on the Hong Kong Main Board on November 16.
Tianzow Breeding mainly provides high-quality breeding stock and market hogs, as well as related ancillary products and services. According to a report by China Insights Consultancy, in 2019, the company ranked first among all breeding stock farming companies in China in terms of breeding stock sales revenue and was also one of the top 50 market hogs companies in China. Tianzow Breeding has reportedly entered cornerstone investment agreements with the following cornerstone investors: controlling shareholder of Fujian Anjoy Foods Co., Ltd. (603345.SH), Xinjiang Guoli Minsheng Equity Investment Co., Ltd., Fuhui Capital Investment Limited, which is wholly-owned by China Lesso Group Holdings Limited (2128.HK), and Mr. Zhong Zhaomin, director of Eastern Marathon Investment Management (Hong Kong) Company Limited, subscribing a total of approximately HK$150 million. The strong support of cornerstone investors with profound investment and food-related backgrounds shows that the capital market has strong confidence in Tianzow Breeding's own competitive strengths and development.
Tianzow Breeding has an abundance of genetic resources. With continuous research, experimentation and testing, it has established and continuously optimized in-depth pig breeding and pig farming know-how, maintaining an advantageous position in the scattered Chinese pig breeding industry. The company also utilizes its "Tianzow Cloud Smart Pig Farming Management System" to not only promote the efficient prevention and control of diseases, but also to conduct continuous analysis of production data to improve breeding efficiency and increase productivity.
Additionally, Tianzow Breeding has a sufficient supply capability of breeding stock and a wide geographical coverage, providing customers in different locations with breeding stock and market hogs in a cost-effective manner. As at the Latest Practicable Date, the company has established 47 pig farms in Southwest, Northeast and Northwest regions of China; and the maximum output capacity reached approximately 300,000 heads as of January 1, 2020. In the fiscal year 2017, the fiscal year 2018, the fiscal year 2019 and the first four months of 2020, the company sold approximately 238.1 thousand, 224.7 thousand, 277.4 thousand and 73.8 thousand heads, respectively, to its customers.
According to an analysis by China Insights Consultancy, China's market hog market will welcome a new round of cyclical growth. Its market size is estimated to reach 1,486 billion yuan in 2024, and its compound annual growth rate will reach 4.4% from 2019 to 2024. Tianzow Breeding is expected to seize its listing as an opportunity for industry growth, further strengthening of its brand and products, expanding production and supply capabilities, and assisting the pig breeding value chain by improving operational efficiency with modern pig farming.
Topic: Press release summary
Sectors: Daily News
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From the Asia Corporate News Network
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