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Haid Group looking to raise funds

Published on 21 June, 2013, Last updated at 00:03 GMT
 
Haid Group looking to raise funds

Chinese aqua-feed and premix prodcuers Haid Group yesterday annouced that the company is planning a non-public offering of shares.

Aiming to raise funds of up to 1.141 billion yuan, the company is proposing an non-public offering of 7660 million shares.With the cash inflow from the offering the company hopes to invest in capital to increase production capacity.

Up to 9 different projects will be started in the future, including investment and development into premixes and probiotics production.

Haid Group will increase production capacity of compound feeds up to 1.24 million tonnes, add a premix production plant with a capacity 32,000 tonnes, and build a new special feed, new microbial system with production capacity of 78,000 tons. This at a cost of 300 million yuan.

The 9 different expansion projects planned by the group include
- Zehua 32,000 tonnes premix project and probiotics production project
- Honghu Haid 220,000 tonnes of feed per annum,
- Jingzhou Haid 200,000 tonnes of feed per annum,
- Dongting Haid 200,000 tonnes of feed per annum,
- Yangjiang Haid 200,000 tonnes of feed per annum,
- Anhui 240,000 tonnes of aquafeed per annum,
- Nantong Haida 180,000 tonnes of feed per annum,
- Hainan Hai 78,000 tonnes of special feed products.

Currently, the company's main business is involved with the production of feed, animal health products, and related. They are a leading domestic producer of aquatic feeds, pig feed, and poultry feed.

With the company's research and development they are aiming to achieve rapid breakthroughs in breeding technology, the company's service system has continued to improve and optimize the company's animal health products business for almost three years and they have managed to achieve a compound annual growth rate of 106%, with product gross margin stable at about 50% profit growth momentum.

In the future the company is aiming to continue its growth and become on of the world's leading feed companies.

 

 
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