As filed with the Securities and Exchange Commission on July 17, 2025. Registration No. 333-281357 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––––––––––– Amendment No. 10 to FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ____________________________________________ MEGAN HOLDINGS LIMITED (Exact name of registrant as specified in its charter) ____________________________________________ | Cayman Islands | 0273 | Not Applicable | | ...

Group 1 - The core viewpoint of the articles highlights the successful cultivation of pufferfish in Tangshan, which has become a significant contributor to the national geographic indication industry, with an annual production of approximately 1,000 tons and a farming area of 14,000 acres [1][2] - The pufferfish farming in Tangshan accounts for over 90% of the national production and 60% of the fish fry supply, establishing it as a key player in the industry [1] - The advancements in breeding technology have mitigated the risks associated with pufferfish toxicity, leading to increased demand and production challenges for companies like Haidu Aquatic Products [1] Group 2 - Haidu Aquatic Products faces challenges in securing bank financing due to asset collateral issues, which has limited its growth potential [2] - The introduction of the "National Geographic Indication Industry Cluster Program" by Industrial Bank aims to convert the company's geographic indication into a credit certificate, facilitating financial support for enterprises [2] - A credit loan of 10 million yuan was approved for Haidu Aquatic Products to alleviate its cash flow pressures, demonstrating the effectiveness of the tailored financial services provided by the bank [2]

Harvest Volumes - Total harvest volume for Q2 2025 is 133.0 thousand tonnes, with contributions from various regions: Norway (72.5 thousand tonnes), Scotland (24.0 thousand tonnes), Chile (15.5 thousand tonnes), Canada (9.5 thousand tonnes), Ireland (5.0 thousand tonnes), Faroes (4.5 thousand tonnes), and Iceland (2.0 thousand tonnes) [1] - Mowi guided a total harvest volume of 130k GWT for Q2 2025, compared to 110k GWT in Q2 2024 [1] Financial Performance - Operational EBIT for the Group was approximately EUR 189 million in Q2 2025, supported by strong cost performance [3] - Blended farming cost decreased to EUR 5.39 per kg in Q2 2025, down from EUR 5.84 in Q2 2024 and EUR 5.89 in Q1 2025 [3] - Operational EBIT per kg varied by region: Norway (EUR 1.90), Scotland (EUR 1.30), Chile (EUR 1.15), Canada (EUR 0.25), Ireland (EUR 0.20), Faroes (EUR 0.90), and Iceland (EUR -2.20 due to very low harvest volumes) [3] Debt and Future Reporting - Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1,895 million at the end of the quarter, excluding IFRS 16 effects [3] - The complete Q2 2025 report is scheduled for release on 20 August at 06:30 CET [3]

Harvest Volumes - Total harvest volume for Q2 2025 is 133.0 thousand tonnes, with contributions from various regions: Norway (72.5k), Scotland (24.0k), Chile (15.5k), Canada (9.5k), Ireland (5.0k), Faroes (4.5k), and Iceland (2.0k) [1][2] - Mowi guided a total harvest volume of 130k GWT for Q2 2025, compared to 110k GWT in Q2 2024 [1] Financial Performance - Operational EBIT for the Group was approximately EUR 189 million in Q2 2025, attributed to strong cost performance [3] - Blended farming cost decreased to EUR 5.39 per kg in Q2 2025, down from EUR 5.84 in Q2 2024 and EUR 5.89 in Q1 2025 [3] - Operational EBIT per kg varied by region: Norway (EUR 1.90), Scotland (EUR 1.30), Chile (EUR 1.15), Canada (EUR 0.25), Ireland (EUR 0.20), Faroes (EUR 0.90), and Iceland (EUR -2.20) [3] Debt and Future Reporting - Reported financial net interest-bearing debt (NIBD) for the group was approximately EUR 1,895 million at the end of the quarter, excluding IFRS 16 effects [3] - The complete Q2 2025 report is scheduled for release on 20 August at 06:30 CET [3]

Core Insights - Guangdong's marine aquaculture production is projected to reach 3.7683 million tons in 2024, marking a year-on-year growth of 5.47%, the highest growth rate in a decade [1][2] - The province has implemented the "Hundred Thousand Project" to accelerate the development of modern marine ranching, resulting in significant advancements and breakthroughs in the industry [1][2] Aquaculture Production - The marine fish farming output is expected to reach 975,400 tons, with a year-on-year increase of 7.93%, accounting for nearly half of the national production [2] - The total economic output of the fishery sector is estimated at 471.825 billion yuan, reinforcing the concept of "blue granary" [2] Innovation and Technology - Guangdong has established a modern marine ranch seed industry innovation center, gathering 63 top marine breeding teams to focus on 28 suitable species for technological advancements [3] - The province has developed 18 nationally approved new marine species, leading the country in this area, and has made breakthroughs in artificial breeding technologies for several fish species [3] Equipment and Infrastructure - Guangdong leads the nation in deep-sea aquaculture equipment manufacturing, with 6,371 gravity-type deep-water cages constructed, the highest in the country [4][6] - The province has introduced the first intelligent lifting-type cage and the largest of its kind, which have withstood severe weather conditions [4] Industry Chain Development - A complete industry chain has been established, with 139 projects initiated since 2023, covering seed cultivation, feed processing, equipment manufacturing, and public services [6] - Guangdong is focusing on three major characteristic industry clusters: golden pomfret, oyster, and sea bass, promoting the development of substantial industry chains [6] Pre-prepared Food Industry - Guangdong has introduced measures to accelerate the high-quality development of the pre-prepared food industry, aiming to establish itself as a national hub [7] - The province has developed several pre-prepared seafood products, creating a consumption trend and enhancing the reputation of Guangdong seafood [7]

Group 1 - Consolidated harvest volumes for Q2 2025 total 64.5 thousand tonnes gutted weight, with specific contributions from various regions: 33.9 from Farming Central Norway, 20.6 from Farming Northern Norway, 6.0 from SalMar Ocean, and 4.0 from Icelandic Salmon [1] - The Q2 2025 report is scheduled for release on Thursday, 21 August at 06:30 CEST, followed by a presentation available through Norwegian webcast at 08:00 CEST and an English webcast recording at 10:00 CEST [1] - The presentation will take place in Oslo instead of Trondheim as previously announced [1]

Core Viewpoint - Stolt-Nielsen Limited will host a virtual presentation to discuss its unaudited results for the second quarter and first half of 2025 on July 3, 2025 [1] Group 1: Presentation Details - The virtual presentation is scheduled for July 3, 2025, at 15:00 CEST (09:00 EDT, 14:00 BST) [1] - Presentation slides will be available on the Investor section of the company's website on the day of the presentation [2] Group 2: Company Overview - Stolt-Nielsen Limited is a long-term investor and manager focused on logistics, distribution, and aquaculture opportunities [2] - The company's portfolio includes three global bulk-liquid and chemicals logistics businesses: Stolt Tankers, Stolthaven Terminals, and Stolt Tank Containers, along with Stolt Sea Farm and various investments [2] - Stolt-Nielsen Limited is listed on the Oslo Stock Exchange under the ticker SNI [2]

Core Viewpoint - The Tasmanian abalone industry is facing a significant crisis due to a sudden market downturn, particularly affecting high-end products exported to China, leading to price drops, order reductions, and increased competition [1][3][4]. Market Conditions - Both wild and farmed abalone from Tasmania, especially high-end varieties for the Chinese market, are experiencing unprecedented challenges, including price declines and factory closures [3][8]. - The price of black-lip abalone in the Chinese market has decreased by over 30%, while high-end gift abalone sales have plummeted by more than 80% [8]. Industry Dynamics - The Australian abalone industry, particularly farming operations, is under severe pressure from the influx of competitively priced Chinese farmed abalone, leading to the closure of two abalone farms in Tasmania [8][10]. - Rare Foods Australia, a representative abalone farming company, has announced its delisting from the Australian Securities Exchange due to a 96% drop in stock price and over AUD 23 million in cumulative losses since its listing [10]. Competitive Landscape - The Tasmanian Seafoods, the largest abalone exporter in Tasmania, is struggling with increasing competition from Chinese farmed abalone, which offers better pricing and efficiency [6][8]. - The Australian abalone industry is characterized by its reliance on wild abalone, which is perceived to have a unique value due to its natural growth and sustainability compared to the intensive farming practices in China [14][18]. Future Strategies - The Australian abalone industry needs to shift from a high-end export model to a broader domestic and Asian market focus, emphasizing ecological sustainability and high nutritional value [20][25]. - A dual strategy is recommended, where companies continue to target high-end markets while also developing affordable products for everyday consumption, such as abalone-based sauces and ready-to-eat meals [23][26].

Group 1 - The establishment of the Zhino Agricultural Cooperative marks a significant step towards the intelligent transformation of aquaculture in Wenchang Fengjiawan [2] - The cooperative aims to create a collaborative mechanism involving government guidance, enterprise empowerment, cooperative operation, and farmer participation, consolidating small fishers into a larger collective [2][3] - The cooperative will introduce smart aquaculture equipment and digital systems for water quality monitoring and disease early warning, shifting the focus from experience-based to data-driven practices [2] Group 2 - The cooperative will leverage the "Fengjiawan Flower Snail" national geographical indication brand to promote other local aquatic products and establish farming standards [3] - The Hainan Global Agricultural Products Auction Center has facilitated the auction of 114 types of agricultural products, with a total transaction value of 25.94 billion yuan, indicating a robust market for local aquatic products [3] - Partnerships have been formed with various companies to ensure benefits for cooperative members through profit-sharing and employment opportunities, encouraging more local farmers to join [3]

Core Insights - AquaBounty Technologies, Inc. reported a net income of $401 thousand for Q1 2025, a significant improvement compared to a net loss of $11.3 million in Q1 2024, largely due to a non-cash gain of $2 million from loan forgiveness [6][9] - The company has been actively selling assets to improve liquidity, including the sale of Ohio Equipment Assets for $2.3 million and Canadian Farms for $1.9 million, which has provided necessary cash flow to explore strategic alternatives for its Ohio Farm Project [3][6] - As of March 31, 2025, AquaBounty's cash and cash equivalents increased to $1.4 million from $230 thousand at the end of 2024, indicating improved liquidity [6][10] Financial Performance - Total revenues for Q1 2025 were not explicitly stated, but total costs and expenses were reported at $1.26 million, down from $2.53 million in Q1 2024, reflecting cost-cutting measures [9] - The operating loss for Q1 2025 was $1.26 million, a reduction from the previous year's loss of $2.53 million, indicating improved operational efficiency [9] - The company reported a comprehensive income of $1.09 million for Q1 2025, compared to a comprehensive loss of $11.27 million in Q1 2024, showcasing a turnaround in financial health [9] Asset Management - Current assets decreased to $6.72 million as of March 31, 2025, from $11.34 million at the end of 2024, primarily due to the sale of assets [8] - Total liabilities decreased significantly to $12.46 million from $18.22 million, reflecting the impact of asset sales and improved cash management [8] - Stockholders' equity increased to $16.97 million from $15.84 million, indicating a strengthening balance sheet [8] Strategic Initiatives - The company is exploring strategic alternatives for its Ohio Farm Project, which is currently partially constructed, and is working with investment bankers to assess options [3] - AquaBounty aims to keep stakeholders informed about its progress in asset sales and strategic initiatives, emphasizing transparency in its operations [3]