Yuehai Feeds Group(SZ:001313)2026-03-20 10:54Sales Performance - In March 2026, the company's product sales achieved over 100% year-on-year growth, with cumulative sales increasing by over 60% [2] - The most significant growth was observed in shrimp and crab feed, followed by special freshwater fish feed, while general freshwater feed also saw substantial growth [2] Strategic Goals - The company aims to achieve a target feed sales volume of 1.3 million tons in 2026, with a focus on "significant growth" in key product categories [3] - Each subsidiary's general manager and sales department heads signed a "military order" to meet the sales targets [3] Marketing Expenses - Marketing expenses are expected to increase due to higher compensation levels to attract talented business teams and enhance market development efforts [3] - The company plans to continue effective marketing campaigns, such as the "Yuehai Sunshine Action," to promote product advantages and advanced aquaculture techniques [3] Raw Material Management - The company has increased its inventory of fish meal and related products in anticipation of rising raw material prices, maintaining a higher inventory ratio compared to competitors [4] - Fish meal prices are expected to remain high due to limited resources and rising oil prices [4] Production Capacity - The company has established production bases in key aquaculture regions across China, with a total designed capacity of over 2.5 million tons and an actual capacity of approximately 1.5 million tons [5] - The current capacity utilization rate is around 70%, with a projected utilization rate of 95% if the strategic sales targets are met [5] International Expansion - The company launched its first overseas subsidiary in Vietnam in October 2025, with sales in the overseas market increasing by over 180% in early 2026 [7] - The strategy focuses on using Vietnam as a base to expand into Southeast Asia, with plans to penetrate markets in Thailand, India, Malaysia, Ecuador, and Egypt [7]