Summary of Haida Group's Conference Call Company Overview - Haida Group focuses on aquaculture feed, which is the core profit driver, particularly in domestic and international markets [2][4] - The aquaculture industry chain is fragmented, allowing leading companies to dominate changes and penetrate various segments like seedlings and feed, creating a comprehensive service loop to enhance farming efficiency [2] Key Insights Industry Dynamics - Significant differences exist between aquaculture and livestock farming. Aquaculture upstream is highly fragmented, giving leading companies stronger bargaining power, while livestock farming is more centralized with large enterprises holding more influence [2][6] - Haida Group holds approximately 20% market share in domestic aquaculture feed, with some core varieties reaching 40%-50% in specific regions. Long-term potential exists to increase this to 40%-50% [2][9] - The livestock feed market share is around 10%, with a long-term target of over 15% [2][9] Business Strategy - The strategy for the pig farming segment focuses on cost optimization rather than aggressive growth, with expected stable production levels of 6-7 million pigs over the next two years [2][11] - Haida Group's diversified operations in aquaculture, poultry, and pig feed allow for a robust procurement system and negotiation advantages, thereby reducing costs and solidifying its cost leadership position [2][13] Market Performance and Growth - The aquaculture feed market is performing well this year, with positive growth expected to continue into the next year, despite some marginal changes in overall growth rates [3] - The international strategy has shown significant results, with leading positions in markets like Vietnam, Egypt, and Indonesia, and plans to double overseas business volume by 2030, primarily in aquaculture feed [5][16] Competitive Advantages - Haida Group's core competitiveness in feed business lies in its strong position in aquaculture feed, which remains the most important profit source despite the rapid growth of livestock feed sales [4] - The company has implemented innovative management practices, enhancing operational efficiency and creating a closed-loop development model for feed, seedlings, and health products [14][15] Financial Projections - The pure feed business segment is expected to see profits grow by over 20%, while the pig farming segment is projected to maintain profitability above 1 billion RMB [5][29] - Overall profit for the current year is estimated to exceed 5 billion RMB, with projections for the next year reaching 6 billion RMB, indicating a growth rate of approximately 25-30% [29] Market Trends - The aquaculture industry is expected to experience growth driven by supply-demand changes and price cycles, with specific species like the California sea bass showing strong price performance [20][21] - The pig feed market may face challenges due to high supply levels, but long-term trends suggest potential price recovery and demand stabilization [23] Conclusion - Haida Group's diversified approach, strong market positioning, and innovative strategies provide a solid foundation for future growth, with optimistic projections for market share and profitability across various segments [30]

与近岸水域相比，离岸海区水体交换多、污染物少，天然饵料充足，温度受陆地影响小，为白蝶贝 生长提供了良好的环境，使白蝶贝幼苗在两个月内平均壳高达2厘米且成活率高。"白蝶贝壳高一般为25 —28厘米，是马氏珠母贝的4—5倍，所产珍珠直径超过12毫米，远胜马氏珠母贝的6—7毫米，售价更 高。"江林源说。 相关专家称，离岸深水区成功养殖白蝶贝，表明北部湾离岸海域水质、温度及饵料条件均能满足白 蝶贝早期生长需求，此举打破了以往只能在内湾传统养殖珍珠的局限，攻克了深远海养殖珍珠的难题， 为科技赋能振兴南珠奠定了坚实基础。（唐广生 张兴志 王瑞） 据广西虾类贝类创新团队首席专家江林源介绍，白蝶贝是被誉为"珍稀瑰宝"的大型珍珠贝类，其孕 育的珍珠颗粒硕大、光泽冷艳，直径可达18毫米，兼具珠宝与药材双重价值。然而，白蝶贝对水质、水 温、饵料的要求苛刻，传统滩涂与内湾珍珠养殖海域因污染和过度捕捞，造成白蝶贝野生种群几近灭 绝，被列为国家二级保护水生野生动物。探索离岸深水区白蝶贝养殖技术就成了广西贝类创新团队义不 容辞的责任担当。 2025年6月，创新团队同时联合广西海洋科学院、北海金不换水产有限公司和南宁龙钰珠宝有限公 司，在北 ...

Group 1 - The article highlights the busy autumn harvest in the marine aquaculture sector of Fujian, showcasing the successful operations of fishermen and the advancements in aquaculture technology [1][2] - Fisherman Lu Tongfeng reports that his platform "Dinghai Bay No. 2" is yielding 150,000 large yellow croakers, each weighing over 1 pound, with a market price exceeding 100 yuan per pound, significantly higher than traditional farming [1][2] - The platform's design allows for automated cleaning and real-time monitoring of water quality, which has reduced labor costs by over 50% [1][2] Group 2 - In Xiapu, a major aquaculture county in Fujian, oyster farmers are concluding their harvest season, with each oyster weighing about half a pound after being cultivated for approximately eight months [5][6] - The oyster farming operation involves 180,000 cages and employs 16 permanent workers, with additional temporary workers during peak seasons, earning around 500 yuan per day [6] - The article notes that September is a critical month for oyster harvesting, as the water temperature drops and new seedlings are prepared for planting [6] Group 3 - Fujian is a major province for aquatic product farming, with a projected total aquatic product output of approximately 9.25 million tons in 2024, equating to a per capita availability of 221 kilograms [8] - The province has modernized over 1 million traditional net cages and invested in 25 deep-sea aquaculture facilities, along with more than 6,000 large deep-water net cages [8]

Core Viewpoint - The event "Yue Fresh, Yu Good, Chongqing and Guangdong Share" showcases the collaboration between Guangdong's seafood industry and Chongqing's hot pot culture, aiming to enhance consumer experience through the fusion of fresh seafood and spicy flavors [1][5]. Group 1: Industry Strength and Collaboration - Guangdong has established itself as a leader in modern marine ranching, with the highest number of gravity-type deep-water cages in China and nearly half of the national marine fish farming output expected in 2024 [2]. - The production of golden pomfret in Zhanjiang accounts for one-third of the national output, while the production of white grouper exceeds 60% of the total national output [2]. - The collaboration aims to leverage Guangdong's seafood supply and Chongqing's hot pot market, enhancing the supply chain and expanding market reach [5][6]. Group 2: Consumer Experience and Product Innovation - The event featured a unique tasting experience that combined Guangdong's fresh seafood with Chongqing's spicy hot pot, allowing consumers to enjoy a dual flavor experience [3]. - Innovative product handling techniques were introduced, such as the preparation of golden pomfret to meet the fast-cooking demands of hot pot consumers [2]. - The tasting event received positive feedback, breaking preconceived notions about Guangdong seafood being bland and highlighting its compatibility with spicy flavors [3][4]. Group 3: Market Trends and Future Outlook - The hot pot industry is projected to exceed a trillion yuan in annual consumption, with the freshness of ingredients being a critical factor influencing consumer choices [5]. - The collaboration is expected to increase the demand for Guangdong seafood in Chongqing, with current monthly demand for golden pomfret at over 100 tons [6]. - The fusion of fresh and spicy flavors is anticipated to meet the evolving consumer preferences for healthier and more diverse dining options [6].

7766 Brand Arch Fire No. of the 182 该镇众多直播平台，纷纷加入到电商销售的行列中，把鹤龙湖螃蟹销往全国。 t and - te . A 7-61 13 Car - Q 45 91 4 - 1 and the p ttp://ww e 11 4 201 the 12 1 A www.blog. 8 a - t to give a and -0477 74 4 ng in 4 e n a state les with r t 201 鹤龙湖水质清冽，水草丰茂。在这里生长的螃蟹体质健壮，呈现青背白肚、黄毛金爪特征。为此，鹤龙湖镇依托万亩鹤龙湖水域，形成蟹虾双主导产业体 系，通过标准化基地建设，并与湖南农大、湖南水产服务中心等单位建立合作关系，为养殖户提供技术、防疫、销售等服务，形成集养殖、加工、销售于一 体的完整产业链。 秋风起，蟹脚痒，每年国庆前后，螃蟹都是很多人心心念念的美味。从9月下旬开始，鹤龙湖螃蟹已大量上市。许多蟹农纷纷利用直播带 货，快递发货等方式，让鲜活的螃蟹直接"爬"上人们的餐桌。既拓宽了销路，又增加了收益，瞧直播中的"仁么么"，不仅展示了螃蟹的品质。而且还分享了 ...

Group 1: Recent IPOs - Eight new stocks were listed last week, with the planned listing of RSHL postponed, expected to list this week [1] - Notable IPOs include: - CHOW raised $10.4 million by issuing 2.6 million shares at $4 each - PLTS raised $8 million by issuing 2 million shares at $4 each - NTSK raised $908 million by issuing 47.8 million shares at $19 each - WBI raised $634 million by issuing 31.7 million shares at $20 each - PTRN raised $300 million by issuing 21.43 million shares at $14 each - STUB raised $800 million by issuing 34.04 million shares at $23.5 each - SPACs LATAU and CHECU raised $150 million and $110 million respectively [1] Group 2: Upcoming IPOs - Two companies are planning to go public this week: - Megan Holdings Ltd., a seafood farming company, plans to list on September 23, 2025, on NASDAQ under the ticker MGN, aiming to raise up to $7.5 million by issuing 125,000 shares at $4 to $6 each, with projected revenue of $13.5 million and net profit of $1.07 million for 2024 [2][4] - HW Electro Co., Ltd., an electric light commercial vehicle manufacturer, plans to list on September 26, 2025, on NASDAQ under the ticker HWEP, aiming to raise $16.6 million by issuing 415,000 shares at $4 each, with projected revenues of $1.44 million and $1.83 million for the fiscal years 2023 and 2024, respectively, and net losses of $14.28 million and $6 million [2][6]

Core Viewpoint - The article highlights the unique capability of Xinjiang to farm salmon, specifically rainbow trout, in its pristine natural environment, showcasing the region's agricultural innovation and potential for high-quality seafood production [1][2][3]. Group 1: Salmon Farming in Xinjiang - Xinjiang's salmon, specifically rainbow trout, is considered a type of salmon, as "salmon" is a common term for various species in the salmonidae family [2]. - The farming environment in Xinjiang, characterized by cold, sweet, and pure glacial meltwater, provides optimal conditions for salmon growth, with an average water temperature of 12 to 20°C [3]. - The slow growth rate of the salmon in this environment leads to higher protein content and better texture, making the fish not only delicious but also nutritious [3]. Group 2: Quality and Safety of Xinjiang Salmon - The salmon from Xinjiang is deemed safe for raw consumption due to the purity of the glacial water and the ecological farming methods that prevent cross-contamination with other aquatic species [4]. - The company employs strict quality control measures, including extensive self-testing and third-party inspections, to ensure the safety and quality of the salmon [4]. Group 3: Financial Support for Industry Growth - The rapid increase in demand for Xinjiang salmon has created financial pressures for companies, necessitating support from financial institutions to manage cash flow and procurement costs [4][5]. - The People's Bank of China has initiated financial products tailored to support unique agricultural industries, including loans for biological assets and inventory [5]. - Specific financial solutions have been developed for Xinjiang Tianyun Organic Agriculture Co., including a 70 million yuan loan to support its salmon farming operations, demonstrating a proactive approach to addressing industry challenges [5][6].

Group 1 - The agricultural total output value in Panyu District, Guangzhou, reached 6.937 billion yuan in 2024, with a year-on-year growth of 3.1%, marking the highest growth rate in three years [24][25] - Panyu District is recognized for its unique agricultural technology and rich Lingnan rural culture, contributing to rural revitalization and enhancing residents' sense of happiness [22][23] Group 2 - The "New Tea Drink·Zhu-Zun Manufacturing" conference held in Zunyi, Guizhou, aimed to promote deeper collaboration and resource sharing between Guangdong and Guizhou in the new tea drink industry [28][30] - Over 300 guests, including government representatives and industry leaders, attended the conference to discuss upgrading the tea drink supply chain [29][30] Group 3 - The 13th China Green Food Expo and the 16th China International Organic Food Expo will take place in Yinchuan, Ningxia, showcasing over 200 quality agricultural products from Guangdong [34][35] - The events emphasize the importance of high-quality agricultural products in ensuring public welfare and promoting agricultural development [33][34] Group 4 - The "Sweet Suixi" regional public brand system construction event will be held on September 23, showcasing harvest achievements and expanding support channels for agricultural development [48][49] - The event aims to inject new momentum into high-quality agricultural development and promote comprehensive rural revitalization in Suixi [50]

Core Insights - The article highlights the innovative practices of "new farmers" in Heilongjiang Province, focusing on the integration of rice and crayfish farming to enhance productivity and profitability [1][3]. Group 1: Rice and Crayfish Farming - The "new farmer" Feng Liang successfully combines rice cultivation with crayfish farming, achieving a dual harvest and improving the quality and market price of rice, which can sell for around 8 yuan per kilogram [1][3]. - The crayfish farming process involves introducing 3 to 5 cm crayfish seedlings into rice fields, with an expected yield of 70 to 80 kg per acre, selling for 60 to 70 yuan per kilogram [3]. - Feng Liang has invested 5 to 6 million yuan in establishing a crayfish breeding base, with a capacity of 10.35 million seedlings, and has engaged 200 local farmers in this integrated farming model [3]. Group 2: Agricultural Events and Community Engagement - The Ning'an City Heishan Big Rice Cooperative organized a harvest festival, attracting visitors to experience rice harvesting and promoting local agricultural products [4][6]. - The cooperative, led by Chen Yujia, has expanded its operations from 50 acres to 1,800 acres of organic rice cultivation, significantly increasing local employment and community involvement [6]. - The cooperative has developed a model of agritourism, offering customized agricultural products and experiences, such as "landlord subscription" for organic rice and local delicacies [6][7].

"得益于'四季有虾'核心技术的攻克，潜江小龙虾从'一季红'变身'四季鲜'。"潜江市小龙虾产业发展促进 中心办公室主任张玮列举了一组数据：2024年12月至2025年2月，全市冬虾上市量2.4万吨，实现产值 21.9亿元；春节期间，大规格小龙虾价格高达54元/斤，是夏季的3倍，成功抢占冬季高价市场。 "这种模式既填补了冬季市场空白，又通过错峰上市平抑了集中上市导致的'虾贱伤农'现象，提升了产 业稳定性和养殖户抗风险能力。"张玮说。 围绕一只"小龙虾"，潜江市委市政府20多年"一张蓝图绘到底"，一届接着一届干，筑起这一全国知 名"大产业"。 近日，在湖北省潜江市后湖管理区张家窑一处池塘里，养殖户李福建划着小船收起一笼笼小龙虾，按大 小规格分类装箱。随后，他操作无人机投撒饵料，水面泛起微漪。"我有33亩虾塘，自己打理，每亩年 均收入1万元。"阳光下，李福建黝黑的脸上汗珠细密，眼里是掩不住的笑意。 李福建的虾塘，位于湖北省小龙虾产业技术研究院张家窑"四季有虾"试验示范基地。"正是因为有了'四 季有虾'这一技术，我养虾收入翻了一倍。"李福建说。 2000年左右，地处江汉平原的潜江开始养殖小龙虾。传统的养殖方式是春季投苗 ...