Core Insights - Nordic Aqua Partners (NOAP) has sold a 20% stake in its China subsidiary, Nordic Aqua (Ningbo) Co., to local investors for 300 million yuan ($42.1 million) to fund the expansion of its land-based salmon farming operations [1][2][4] - The investment will support the completion of phase two and the planning of phase three of the project, which aims to increase annual output from 8,000 tonnes to 20,000 tonnes [2][3] - The company is considering a public listing in China or Hong Kong for Nordic Aqua Ningbo to enhance cash flow and operational leverage in the growing seafood market [5] Financial Performance - NOAP reported a first-half net loss of €14.35 million ($16.84 million), widening from a loss of €1.71 million a year earlier [6] - Revenue increased by 58% to €7.39 million, with salmon harvest from phase one reaching 955 tonnes, up from 523 tonnes the previous year [6] - Operating EBITDA showed a loss of €1.27 million, an improvement from a loss of €1.98 million, while EBIT was reported as a €6.6 million loss compared to an almost €2 million loss [6] Project Development - Phase one of the project has been completed, with the first salmon harvest successfully executed in April of the previous year [2][3] - Pre-engineering assessments for phase three are expected to be completed next year, with construction planned to start in late 2026 or early 2027 [3] - The first harvest from the phase three farming project is anticipated in 2029 [3] Strategic Positioning - The investment is expected to strengthen Nordic Aqua Ningbo's position as a leading onshore Recirculating Aquaculture System (RAS) and land-based Atlantic salmon platform in China [4] - The collaboration with Chinese investors marks a significant strategic milestone for Nordic Aqua, reflecting a long-standing partnership [4][5]