Company Overview - Guangdong Yuehai Feed Group Co., Ltd. is a national innovative pilot enterprise primarily engaged in the R&D, production, and sales of aquatic feed, established in 1994 [2] - The company specializes in high-quality aquatic feed, particularly for shrimp and marine fish, with special aquatic feed accounting for approximately 70% of total feed sales [2][3] - The company has a strong market presence in southern China, with about 70% of its revenue generated from this region [2] Financial Performance (Q3 2025) - The company achieved a feed sales volume of 660,000 tons, a year-on-year increase of 11.93% [3][4] - Revenue reached CNY 4.997 billion, reflecting a year-on-year growth of 12.18% [3] - Net profit attributable to shareholders was CNY 26.198 million, a significant increase of 138.86% year-on-year [3] Product Performance - Specific feed types showed varied growth: shrimp and crab feed increased by over 20%, marine special fish feed by over 10%, and general freshwater feed by about 5% [4] - Some species, such as sea bass and grass carp, experienced a decline in sales volume, with decreases ranging from 9% to 18% due to market conditions [4] New Production Facilities - The company launched a new production facility in Anhui with an annual capacity of 100,000 tons, involving a total investment of CNY 170 million [5][6] - This facility aims to serve as a core service hub for the East and Central China regions, enhancing local supply and reducing costs for customers [6][7] International Expansion - The company opened its first overseas subsidiary in Vietnam, with an annual production capacity exceeding 100,000 tons and plans for future expansion to 200,000 tons [8][9] - The Vietnamese facility aims to leverage local resources and serve markets in Southeast Asia, including India and Malaysia [9][10] New Product Development - The company has introduced new products in the prepared food sector, achieving a sales volume of over 6,000 tons, a 92% increase year-on-year, with revenue of CNY 172 million, up 70% [10] - The focus on high-value species such as shrimp and golden pomfret is expected to enhance market competitiveness [11] Market Outlook - The company anticipates a positive outlook for Q4 2025, driven by seasonal demand during the National Day, New Year, and Spring Festival, which is expected to boost consumption and prices in the aquatic feed market [12]

Core Insights - Guangdong Yuehai Feed Group's subsidiary Anhui Yuehai Feed has officially launched its 100,000-ton aquatic feed production facility in Wuhu, marking the completion of the company's strategic triangle layout in East China [1][2] Company Overview - Anhui Yuehai was established in July 2019 and is the core implementation entity of Yuehai Feed's listed fundraising projects, with a total investment of 170 million yuan (approximately 24.1 million USD), of which 110 million yuan (approximately 15.5 million USD) is raised funds [1] - The new facility covers over 60 acres with a building area of 43,000 square meters and includes two production lines for puffed feed with a capacity of 10 tons per hour and one production line for shrimp feed with a capacity of 5 tons per hour, achieving an annual production capacity exceeding 100,000 tons [1] Product and Market Strategy - The product matrix includes over ten core products under the "Yuehai" and "Haixuan" brands, such as shrimp feed, bass feed, and yellow catfish feed, with a sales network covering East and Central China [1] - The facility aims to meet the diverse needs of specialized aquatic farming in Anhui and surrounding provinces, providing localized supply services within a 300-kilometer radius to reduce procurement and transportation costs [1] Technological and Quality Control Advancements - Anhui Yuehai leverages two provincial-level research platforms to synchronize production processes with industry advancements, employing cutting-edge production equipment to enhance feed stability and palatability [2] - The company has established a comprehensive quality control system and adheres to the group's "four guarantees" standards, with over 25% of its 135 employees being professional technical personnel [2] Strategic Goals and Market Positioning - The chairman of Yuehai Feed, Zheng Shixuan, outlined a "three highs and three lows" technical strategy aimed at increasing growth rates by 10%, reducing feed conversion ratios by 10%, and cutting losses by 50%, thereby providing low-cost and efficient solutions [2] - The new facility is positioned as a high-quality, high-price, and high-cost-performance operation, with a goal of securing 37,000 tons of orders through special investment policies and promotional activities [2] - The establishment of the Anhui base is seen as a critical step in the company's national expansion strategy, enhancing its capacity network and solidifying its position in the specialized aquatic feed sector [2]

Core Insights - The opening ceremony of Anhui Yuehai Feed Co., Ltd. resulted in the acquisition of 37,250 tons of feed orders, marking a significant milestone for the company [1] - The new production facility in Wuhu, Anhui, officially commenced operations, contributing to the company's strategic layout in East China [1][2] Company Overview - Anhui Yuehai was established in July 2019 with a total investment of 170 million yuan (approximately 24.1 million USD), including 110 million yuan (approximately 15.5 million USD) from fundraising [1] - The facility covers over 60 acres with a building area of 43,000 square meters, featuring two production lines for puffed feed and one for shrimp feed, with an annual production capacity exceeding 100,000 tons [1] Strategic Positioning - The new plant is positioned as a leading enterprise in the special aquatic feed sector in Anhui, leveraging the "Yuehai" and "Haixuan" brand matrix to cover over ten core product categories [1] - The sales network extends across East and Central China, with localized supply within 300 kilometers to reduce procurement and transportation costs for customers [1] Technological Advancements - Anhui Yuehai utilizes two provincial-level research platforms to synchronize production processes with industry advancements, employing over 25% of its 135 employees as specialized technical personnel [1][2] - The company implements advanced production equipment to enhance feed stability and palatability, establishing a comprehensive quality control system adhering to the group's stringent standards [1] Market Strategy - The chairman of Yuehai Feed, Zheng Shixuan, outlined a "three highs and three lows" technical strategy aimed at improving growth rates by 10%, reducing feed conversion ratios by 10%, and cutting losses by 50% [2] - The new plant's positioning focuses on high quality, high price, and high cost-effectiveness, supported by special investment policies and promotional activities to drive order fulfillment [2] Regional Impact - Anhui is identified as a core area for aquatic farming, transitioning from extensive to intensive farming practices, creating a significant demand gap for high-end feed [2] - The launch of the new facility is expected to fill the supply gap in the region and promote standardized development in aquaculture, enhancing Yuehai Feed's national production network and reinforcing its industry position [2]

Core Viewpoint - Guangdong Yuehai Feed Group Co., Ltd. (Yuehai Feed) has launched the "Yuehai Wealth Creation Campaign: Winning Summer Action" to capitalize on the peak season for aquaculture, aiming for dual goals of customer success in farming and a significant increase in group sales [2][3]. Group 1: Business Performance - From January to April this year, Yuehai Feed collected nearly 300 million yuan in advance payments, representing a year-on-year increase of nearly 50% [2]. - Product sales have shown significant growth, with high-end fish feed up over 15%, small shrimp feed up over 56%, yellow catfish feed up over 66%, live fish feed up nearly 50%, and puffed tilapia feed up over 36% [2]. Group 2: Strategic Focus - The "Winning Summer Action" will benchmark against industry leaders and focus on six strategic initiatives to enhance business operations [3]. - The company plans to strengthen channel cooperation and expand coverage of feed, seedling, and animal health products, while enhancing customer loyalty through continuous service [3]. Group 3: Market Expansion - Yuehai Feed will focus on high-end feed for shrimp, grouper, yellow catfish, and bass, as well as freshwater fish varieties like puffed tilapia and grass carp, targeting weak areas for market penetration [3][4]. - The company aims to achieve the highest market share in key regions and product categories [3]. Group 4: Service and Brand Development - To ensure service quality, Yuehai Feed will increase service frequency at farms and conduct skill competitions to strengthen the marketing team [3]. - Brand enhancement will be pursued through case studies, promotion of farming models, and community initiatives [3].