Core Viewpoint - The company, Yuehai Feed, has announced an increase in its acquisition stake in Yixing Tianshi Feed Co., Ltd. from 51% to 60%, with a transaction price of 132 million yuan, following the signing of a formal equity transfer agreement [2][3]. Group 1: Acquisition Details - The overall valuation of Tianshi Feed remains at 220 million yuan, while the acquisition price for the increased stake is set at 132 million yuan [3]. - The performance commitment from the seller has been adjusted, with the promised net profits for 2025 and 2026 being reduced by over 2 million yuan compared to previous commitments [3]. - The acquisition aims to enhance Yuehai Feed's control over the supply chain of key raw materials in the feed additive industry [4]. Group 2: Historical Context - Yuehai Feed has previously attempted two other acquisitions in the past three years, both of which were ultimately terminated due to various reasons, including price discrepancies and failure to provide necessary due diligence materials [5][6]. - The company had initially planned to complete the acquisition of Tianshi Feed by mid-2024, but the current progress indicates a delay [7]. Group 3: Financial Performance - Tianshi Feed reported a net profit of 26.16 million yuan for 2024, exceeding the previous commitment of 22 million yuan [4]. - In the first half of 2025, Tianshi Feed achieved a net profit of 11.72 million yuan [4]. - For the first three quarters of the year, Yuehai Feed reported sales of 660,000 tons, with a revenue of 4.997 billion yuan and a net profit of 26.2 million yuan [7].

Core Viewpoint - The establishment of Hainan International Aquatic Products Trading Market Co., Ltd. indicates a growing focus on the seafood trade and related industries in Hainan province, with a registered capital of 20 million yuan [1] Company Summary - Hainan International Aquatic Products Trading Market Co., Ltd. has been recently established with a registered capital of 20 million yuan [1] - The legal representative of the company is Yang Yunyan [1] - The company's business scope includes import and export of goods, import and export agency, food sales, and acquisition of aquatic products [1] Shareholding Structure - The company is jointly held by Hainan Yingxiangli Technology Co., Ltd., Haikou Rural Revitalization Investment Development Group Co., Ltd., and Haikou Meilan District Investment Construction Co., Ltd. [1]

Core Insights - Maoming Tingyue Jiyou Trading Co., Ltd. has recently been established with a registered capital of 300,000 RMB [1] - The company's business scope includes the sale of pre-packaged food, internet sales of pre-packaged food, acquisition and wholesale/retail of aquatic products, and wholesale of edible agricultural products [1] Company Overview - The registered capital of Maoming Tingyue Jiyou Trading Co., Ltd. is 300,000 RMB [1] - The company is authorized to conduct business activities independently based on its business license, excluding projects that require approval [1] Business Activities - The company focuses on general projects such as food sales (limited to pre-packaged food) and internet sales of pre-packaged food [1] - It also engages in the acquisition, wholesale, and retail of aquatic products, as well as the wholesale and initial processing of edible agricultural products [1]

Core Viewpoint - The successful import of 42 tons of fresh king crabs from the Arctic through the Jimunai port marks a significant breakthrough for high-end seafood imports at Xinjiang land ports [1] Group 1: Import Details - The batch of king crabs was transported to a designated regulatory area in the Jimunai Border Economic Cooperation Zone for temporary storage under controlled conditions of 0 to 5°C and 30‰ salinity [1] - The import is seen as a key achievement in expanding specialty trade, leveraging the advantages of designated regulatory areas for imported aquatic products [1] Group 2: Customs and Logistics - The Jimunai Customs utilized an intelligent regulatory system to ensure effective supervision and significantly reduced the customs clearance time [1] - The customs staff coordinated with the cargo owner and agency companies in advance to manage customs declaration data and document information, implementing a "priority review + appointment inspection" process to minimize the time from entry to unloading [1] Group 3: Market Response - The trade company responsible for the import reported receiving a large number of pre-order inquiries, indicating strong market demand for the fresh king crabs [1]

Core Insights - The successful import of 20.94 tons of freshwater fish from Russia into the Xunke port marks a significant breakthrough in cold chain logistics for the Heilongjiang region, providing high-quality ecological products to consumers [1][2] - The imported fish, including carp, crucian carp, bass, and salmon, are well-regarded in the Heilongjiang market due to their tender meat and superior quality, indicating a strong consumer demand for premium aquatic products [2] Company Insights - The Black River Supply Chain Group, responsible for the import, has focused on a comprehensive service model since its establishment in March 2025, aiming to enhance urban and rural material circulation efficiency [2] - The company has strategically selected popular fish varieties based on market demand, intending to enrich supply and meet the rising consumer expectations for high-quality seafood [2] Industry Insights - The Xunke port serves as a critical node for Sino-Russian trade, with the efficient customs process and service optimization significantly reducing cargo retention time, thereby enhancing trade efficiency [2] - The successful entry of Russian freshwater fish into the Heilongjiang market not only revitalizes the local seafood market but also exemplifies the facilitation of border trade between China and Russia [2]

Core Viewpoint - The Yunnan Provincial Department of Commerce is actively promoting the expansion of seafood trade with countries around the Indian Ocean, aiming to enhance import scales and create a broad platform for cooperation among seafood production, trade, and sales enterprises [1][2] Group 1: Trade Promotion Activities - During the 9th China-South Asia Expo, a promotional event for expanding seafood trade was held, focusing on increasing imports from Indian Ocean countries [1] - The Yunnan Provincial Department of Commerce announced seven measures to support seafood imports, including improving infrastructure and enhancing customs efficiency [1] Group 2: Import Growth Targets - The measures aim for an average annual growth of over 30% in seafood imports, with a goal to establish a distribution network by 2027 that radiates nationwide [1] - The Yunnan Provincial Department of Commerce is committed to integrating internal and external trade across the entire industry chain to position Yunnan as a trade hub for South Asia and Southeast Asia [2] Group 3: Logistics and Transportation - Yunnan Airport Logistics Co., Ltd. introduced air transport routes for seafood trade, with Kunming Changshui International Airport set to handle over 14,300 tons of seafood from Indian Ocean countries by 2024 [1] - The introduction of a public-rail intermodal transport model has reduced the transportation time for Thai frozen shrimp to Kunming by 60% compared to traditional sea transport [2] Group 4: Business Agreements - During the promotional event, Yunnan seafood import enterprises signed 10 procurement agreements worth 28 million yuan with domestic buyers [2] - Yunnan sturgeon export enterprises also secured a 30 million yuan export agreement with Vietnamese customers [2]