Core Insights - Guangdong Yuehai Feed Group Co., Ltd. has officially launched its subsidiary, Vietnam Yuehai Feed Co., Ltd., marking a significant step in the Southeast Asian market and reinforcing its global strategy [1][2] - The company reported a remarkable performance in 2025, achieving a 216.48% year-on-year increase in profit attributable to the listed company in the third quarter, with new factories opening to further boost sales [1] - The chairman emphasized the commitment to enhancing aquaculture standards in Vietnam and Southeast Asia, aiming for a 10% increase in growth speed, a 10% reduction in feed conversion ratio, and a 50% decrease in loss rates [1] Company Developments - Vietnam Yuehai Feed has gained increasing trust and support from local aquaculture farmers, driven by its "three highs and three lows" technical strategy and a robust quality assurance system [2] - The first phase of the Vietnam Yuehai facility, located in Vinh Long Province, has an investment of approximately 140 million yuan, featuring production lines with a capacity of over 100,000 tons annually, with plans to expand to 200,000 tons [2] - A wealth forum was held during the opening, resulting in strategic cooperation agreements totaling 80,600 tons, with 22,800 tons of orders secured, strengthening the company's market foundation [2]

Core Insights - Vietnam Yuehai Feed Co., Ltd. officially opened on October 30, marking a significant step for Yuehai Feed in the Southeast Asian market and laying a solid foundation for its global strategy [1] - Yuehai Feed reported impressive growth in 2025, achieving its best semi-annual performance since listing, with a profit increase of 216.48% year-on-year in Q3 [1] - The opening of new factories in Anhui and Vietnam is expected to further boost sales and enhance the brand's influence [1] Group 1 - The successful establishment of Vietnam Yuehai is a key practice in responding to the Belt and Road Initiative and Vietnam's "Two Corridors and One Circle" plan, emphasizing international capacity cooperation [1] - The company aims to improve the aquaculture standards in Vietnam and Southeast Asia, targeting a 10% increase in growth rates, a 10% reduction in feed conversion ratios, and a 50% decrease in loss rates [1] - The company has gained increasing trust and support from local farmers, which is seen as a major driving force for future development [2] Group 2 - The first phase of the Vietnam Yuehai project involved an investment of 5 trillion VND (approximately 1.4 billion RMB), with an initial production capacity exceeding 100,000 tons per year [2] - The company has established a sales network centered in Vietnam, extending to markets in India, Malaysia, and other Southeast Asian countries [2] - During the opening ceremony, a strategic cooperation agreement was signed for a total of 80,600 tons, with 22,800 tons of orders secured from customers [2]

Core Viewpoint - The company has announced a price increase for various feed products starting from October 18, 2025, due to current raw material market conditions [3][6][40]. Price Adjustment Details - Shrimp feed and loach feed series will increase by 200 yuan per ton [5][19][42]. - Sea bass and yellowfin tuna series will also see a price increase of 200 yuan per ton [5][19][42]. - The price for fish series, including sunfish and California sea bass, will rise by 300 yuan per ton [5][19][42]. - High-end fish feed, including fish苗宝 and other premium series, will increase by 500 yuan per ton [5][19][42]. - Specific products like whale feed will see an increase of 600 yuan per ton [7][22]. Industry Response - Other companies in the industry, such as Tongwei, Aohua, and Hengxing, are expected to follow suit with similar price increases, with some products seeing hikes up to 600 yuan per ton [22].