Sino Agro Food : Der Agrar-Riese
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sino agro food ist ein interessanter stark wachsender china-wert , welcher in 2014 die weichen für eine erfolgreiche zukunft stellt/gestellt hat.
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Introduction:
1. Aquaculture, or fish farming, will provide close to two thirds of global food fish
consumption by 2030
http://en.mercopress.com/2014/02/06/...bal-food-fish-by-2030-says-fao
2. Global Aquaculture Market Trends, Size Research Report 2020 at GrandViewResearch
http://www.benzinga.com/14/09/4853060/...ndviewresearch#ixzz3DZ7czPTB
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About Sino Agro Food, Inc.:
Sino Agro Food, Inc. (SIAF) is an integrated developer, producer and distributor of organic food and agricultural products in the Peoples Republic of China (PRC). The Company is focused on developing, producing and distributing higher margin agricultural products to meet the increasing demands from China's emerging middle class consumers for wholesome, trustworthy, higher quality, and gourmet or medicinal food items. We specialize in producing the highest quality beef and seafood, and high value produce.
Current lines of business include Aquaculture, Livestock Farming, Plantation Farming, Farm Services, and Marketing & Trading.
The Company's largest and most scalable businesses are indoor and semi-enclosed open dam aquaculture production of a variety of seafood, prawns, and eel, and production of over 60 cuts of beef and lamb. Both businesses fit the Company's "farm to table" concept with protein foods being nurtured from birth with proprietary feeds and technology to end sale of packaged products. In the case of aquaculture, the Company uses a proprietary Recirculating Aquaculture System ("RAS") featuring indoor tanks with fresh water recirculating 60 to 120 times per hour, controlled feed and growth environments, and no use of hormones, antibiotics, or other drugs or chemicals. In the case of beef and lamb protein products, live cattle is grazed and grazed on specified grasses grown with our proprietary fertilizers and methods; raised and fattened using proprietary livestock feed; deboned and packaged at the Company's abattoir, and sold through Company owned butcher shop concessions at Tesco PLC stores, among other outlets.
www.sinoagrofood.com
https://www.facebook.com/SinoAgroFoodInc
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Accomplishments:
1. Dreagon Head Enterprise Status:
On October 28, 2013 Sino Agro's majority controlled subsidiary SJAP (Qinghai Sanjiang A Power Agriculture Co., Ltd.) nomination to apply the merit credentials in China to become a certified China Dragon head Enterprise was approved by government authorities.
This is a major achievement and marks a milestone in SJAP's business operations, plans, and prospects. "Dragon Head" designation both validates and promotes SJAP's transformation from purely a producer of whole live cattle to a producer, processor, and marketer of packaged, value added beef products. Such vertical integration presents a significant competitive advantage in the region. In the first quarter of 2014, a multiplier effect will begin to accrue across all financial measures. "Dragon Head Enterprise" is a prestigious certification granted by the Government to businesses demonstrating corporate social responsibility ("CSR"), pioneering and leadership in business, and high standards of quality and services. It frequently leads to additional governmental grants and other forms of assistance. The Qinghai Province population has a larger percentage of ethnic minorities than most, and thereby businesses receive proportionately higher grants, incentives, assistances and subsidies from the Government. Stemming from its business model, SJAP has been well supported by the Government due to our CSR. The Company expects to receive even greater support from the Government with the approval of its "Dragon Head Enterprise" status.
2. Contracts with TESCO PLC:
The Company is delighted to announce that its China joint venture company Qinghai Sanjiang A Power Agriculture Co., Ltd. ("SJAP") has entered into two contracts with Tesco, PLC to become both a supplier and an in-store butcher shop concessionaire of beef and lamb. The contracts became effective June 19, 2014 and run for five years.
http://www.prnewswire.com/news-releases/...h-tesco-plc-264720691.html
3. Sino Agro Food Closed US $25 Million Convertible Note Funding:
The Company is pleased to announce that it has closed a net US $24,975,000 convertible note funding with Euro China Capital AB ("ECAB"), a Nordic investment house, on the 29th of August, 2014. Euro China Capital AB's Managing Partner Fredrik Danielsson commented, "We have conducted extensive due diligence on Sino Agro Food over the past two years and are impressed by the operations that Mr. Lee and his team have managed to develop.
http://uk.reuters.com/article/2014/09/04/...KnPn77ND49+8c+PRN20140904
4. Newly Operating Abattoir Facilities (Slaughterhouse):
SJAP slaughtered 158 head of cattle and de-boned 88 metric tons of meat in June. SJAP is on target to sell 20,000 head of cattle in 2014, raised by local cooperative farmers and grazed on land leased to SJAP to promote modern agriculture in the region.
Rapidly increasing proportions of cattle will be processed through SJAP's abattoir and de-boning/packaging facility in the second half of 2014. From there, meats will be distributed to various resellers. Under the SJAP "Bull" brand, up to 60 different cuts of packaged beef will be prepared for resale at SJAP concession butcher shops located within TESCO stores in China.
5. Mega Prawn Farm:
Sino Agro Foods has announced that its planned prawn farm complex will culture shrimp and prawns from hatchery to grow-out and packing all on its giant complex. With production expected to start in the second quarter of 2015. With a staggering production estimate of 300,000 metric tons, the company stated it hopes to reach this figure after ten years of production. The company has set a production target of 10,000 metric tons for the first two years, 30,000 metric tons in three years and 100,000 metric tons in five years.The farming system prides itself in being 100 per cent sustainable, as the shrimp/prawns are born, bred and grown in a closed indoor Re-circulating Aquaculture System (RAS). Sino Agro Foods' A Power Re-circulating Aquaculture System and Technology (APRAS) uses indoor tanks that re-circulate fresh water at a rate of 60 times an hour. As a closed system, it has low mortality rates of less than eight per cent and is less susceptible to the introduction of disease, meaning little or no risk of Early Mortality Syndrome. Most importantly, RAS is a green farming system since it does not require chemicals or antibiotics to recycle the water. Around 99.75 per cent of water within the tank can be recycled while the excrements of aquatic products can be used as organic fertilizer. It is these qualities which will also allowed the farm to use hydroponics to grow fruit and vegetables alongside the shrimp/prawns. This staggering project will also benefit the local community through the creation of 145,000 peripheral and direct jobs, a guaranteed sufficient food supply and an increase in local incomes - as direct employee jobs should have an average salary 25 per cent higher than average urban resident of Zhongshan and 100 per cent higher than the average rural resident.
http://m.thefishsite.com/news/22837
http://www.undercurrentnews.com/2014/03/26/...-a-whole-lot-of-prawns/
http://sinoagrofood.investorroom.com/download/...ject_Information.pdf
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Financial Reports:
http://www.sec.gov/cgi-bin/...ro+food&owner=exclude&action=getcompany
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NASDAQ:
Sino Agro Food, Inc. is pleased to announce that on October 2, 2013 it applied to have its equity shares listed on NASDAQ's Capital Market® exchange.
http://sinoagrofood.investorroom.com/...nc-Applies-for-NASDAQ-Listing
First North:
GUANGZHOU, China, Feb. 19, 2013 /PRNewswire/ -- Sino Agro Food, Inc. (OTCBB:
SIAF), an emerging integrated, diversified agriculture technology and organic
food company (the "Company") with its principal operations located throughout
the Peoples Republic of China ("PRC"), is pleased to update shareholders on its
progress for cross-listing on NASDAQ-OMX First North.
http://www.reuters.com/article/2013/02/19/...nNY62331+160+PRN20130219
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letzte Insiderkäufe:
- sandberg nils-erik ( 22.08.2013) = Independent Non-Executive Director
http://www.sec.gov/Archives/edgar/data/1488419/...45X03/v353625_4.xml
- ritchey daniel ( 07.04.2014) = Independent Board Member
http://www.sec.gov/Archives/edgar/data/1488419/...X03/primary_doc.xml
- ritchey daniel ( 29.09.2014) = Independent Board Member
http://www.sec.gov/Archives/edgar/data/1488419/...X03/primary_doc.xml
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Risiken:
- siaf = china rto, mit all den bekannten risiken ( u.a. komplizierte vie-struktur, probleme bezüglich "collectibility/ accountability against assets located in china" )
- schwankende lebensmittelpreise,...
was unterscheidet siaf von anderen chin. rto's:
- unabhängige nicht-chin. vorstandsmitglieder
(Mr. Daniel Ritchey, Mr. Lim Chang Soh, Nils-Erik Sandberg, Koi Ming (George) Yap)
- transparenz: -siaf veranstaltet regelmäßig touren zur besichtigung des operativen
geschäfts
-siaf veröffentlicht regelmäßig unabhängig geprüfte finanzberichte an die
sec
-regelmäßige updates internetseite / facebook
-cfo bestimmt
( http://www.prnewswire.com/news-releases/...ial-officer-260161401.html )
- chief internal auditor bestimmt
( http://www.prnewswire.com/news-releases/...nal-auditor-269532421.html )
problem in der vergangenheit: starke wachstum wurde finanziert über die ungebremste ausgabe von aktien, ABER: ( siehe sept.04 2014)
As part of this convertible bond, Sino Agro Food has undertaken a commitment to cease the issuance of new shares as a means to pay suppliers and similar. Our ambition is that the equity will never again be used as currency until it has reached a value that to some degree reflects the fundamental value of the Company. With this foundation and Mr. Lee's commitment to work with Euro China Capital now in place, we are confident that we have established a platform from which Sino Agro Food has the ability to transform its operational success into value for all its shareholders.
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keine kaufempfehlung!
disclosure: long
das könnte heute eine korrektur führen, allerdings hat sich die lage von sino agro food aufgrund des einstiegs von euro china capital stark verbessert.
auch wenn der deal auf den ersten blick in die hände von euro china capital spielt, ist dieser auch ein neubeginn für altaktionäre, da die grenzelose verwässerung ein ende findet und sich durch den einstieg von euro china capital (angesehener investor aus schweden) weitere finanzierungsmöglichkeiten ergeben werden....
SEC Form PRE 14C
http://app.quotemedia.com/data/...Filed=2014-09-30&cik=0001488419
ab jetzt gilt:
"As part of this convertible bond, Sino Agro Food has undertaken a commitment to cease the issuance of new shares.....Our ambition is that the equity will never again be used as currency...."
hinweis: somit hat daniel ritchey mit seinem insiderkauf am 29.09. zu $0,9 ein starkes signal gesetzt!
http://sinoagrofood.investorroom.com/analyst-group_report
As the press release issued on September 4, 2014 alluded, the Company has conducted strategy sessions spanning four days with Euro China Capital AB ("ECAB") in Stockholm in late September planning how to best enhance shareholder value. As a result of these strategy sessions, the Board of Directors has agreed in principle on an initial general plan as well as some concrete initial action items as first steps of this plan.
http://www.prnewswire.com/news-releases/...ional-focus-282556121.html
u.a. schlachthof läuft langsamer an als vermutet.
http://www.sec.gov/Archives/edgar/data/1488419/...875/v393120_10q.htm
http://www.prnewswire.com/news-releases/...verse-split-300010332.html
The reasons for this action are to:
-Avoid SIAF shares being classified as a penny stock,
-Satisfy one of the listing requirements of any U.S. main board stock exchange,
-Attract investors, particularly institutional shareholders, and
-Enable Swedish brokers to accommodate trading of SIAF shares.
http://sinoagrofood.investorroom.com/index.php?s=43&item=127
Oder denkst Du es liest keiner mit und hast aufgegeben. Ich habe in meinem China Agrardepot Agria und CGA. Üverlege ob ich noch ein paar SIAF dazu nehme.
Wie sind Deine Erwartungen für die nächsten Monate ?
1. Shanghai Distribution Center Project ( Update )
Construction of our Shanghai Distribution Center is progressing, with operations scheduled to begin in February, 2015. Facilities include two offices, one for meat (Shanghai Vigour Trading Limited) and one for seafood (Shanghai Coral Seafood Limited). To feature our products, there is a 500 square meter display showroom inside.
http://www.sinoagrofood.com/...2Fshanghai-distribution-center-project
2. SCHEDULE 13G
Name of Reporting Person
Forsakringsaktiebolaget Avanza Pension
Number and Percentage
of Shares Beneficially Owned
16.46 % /2,795,554
http://app.quotemedia.com/data/...Filed=2015-02-03&cik=0001488419
3. MegaFarm:
3A: Mega Farm Phase 1
(Bilder im Zeitraum von Oktober 2014 bis Januar 2015)
https://www.youtube.com/embed/Sa2No6bx2tw
3B:Bilder vom 11.02.15:
https://plus.google.com/app/basic/photos/...album/6116641104781417937
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schlachthof, sollte bereits zu den nächsten zahlen, eine deutlich höhere kapazität aufweisen.....
megafarm ist im bau (siehe bilder) und wird produktion aufnehmen....
ich erwarte news zu einem möglichen senior-listing ( nasdaq oder fn )...
ich erwarte news bezüglich qinghai sanjiang a power agriculture co., ltd. (SJAP)...
(siehe: http://sinoagrofood.investorroom.com/index.php?s=43&item=127)
umsatz: 404,3mio
ebit: 114,9mio
gewinn: 92,0mio
.... um alles zu lesen, braucht man hier viel zeit. .. :)
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ps.: 40t pro tag!!!
Sino Agro Food, Inc.
With state-of-the-art defrosting technology, unavailable elsewhere in China, SIAF's Shanghai Vigour Trading Limited is set to deliver 40 tons of imported Australian Angus beef to Shanghai's wholesale market each day!
https://m.facebook.com/SinoAgroFoodInc/photos/.../?type=1&theater
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During March 2015 the Company secured two loans from two reputable financial institutions in the United States. These loans are to be collateralized by stock in the Company.
http://www.prnewswire.com/news-releases/...ted-results-300059122.html
http://www.prnewswire.com/news-releases/...ial-advisor-300061739.html
Sino Agro Food CEO Solomon Lee commented, "I am very pleased to announce the engagement of Burnham. This is another milestone in Sino Agro Food's corporate strategy to successfully complete the investment plan we initiated in 2010. Burnham and its relationships with major China-based investment funds have the potential to bring SIAF deep alliances and experience in the capital markets that could help us to continue to enhance shareholder value."
Burnham Securities' Dan McClory, Managing Director and Head of China Investment Banking, described the engagement with SIAF as "an outstanding opportunity to work with a major Chinese agribusiness focused on sustainable protein food and produce, and strengthen the strategic investment approach of Chairman Lee. SIAF is in an advantageous position in the world's largest market for agriculture."
Last year, Sino Agro Food (SIAF) a vertically integrated protein food producer, reported that it was building what will be the world’s largest freshwater prawn farm in Nanlang Town, Zhongshan City, Guangdong Province, China. As the company prepares for its first stocking in April 2015, TheFishSite talks with the company about their progress and plans for producing high standard sustainable seafood, writes Lucy Towers, TheFishSite Editor.
http://www.thefishsite.com/fishnews/25374/...ares-for-first-stocking/
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Form 4:
SANDBERG NILS-ERIK EDUARD
(Independent Non-Executive Director)
5000aktien zu $12,24
http://app.quotemedia.com/data/...iled=2015-04-14&cik=0001488419u
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Sino Agro Food Inc. Announces Important Milestones in Strategic Plan
Long term vision: Sino Agro Food's long-term vision is to become a leading sustainable aquaculture company focused on organically farmed fish and prawns. In this process, other businesses will be divested, either through separate listings or M&A.
Listing of the Company's shares on the Oslo Stock Exchange: The Company has together with its newly appointed financial advisor Arctic Securities set an objective to list its common equity on the Oslo Stock Exchange as soon as practicable.
New Chief Financial Officer: Mr. Bertil Tiusanen has been appointed as group CFO. Mr. Tuisanen has previously been CFO at large Swedish corporations such as Vattenfall AB and Coop AB. Mr. Tiusanen is currently employed as advisor to the Norwegian Government and will start as full-time CFO of Sino Agro Food on May 1st 2015.
New Nordic Investor Relations: Box Communications has been engaged to handle the Company's Nordic IR activities. Mr. Tomas Oqvist, previously top-ranked Swedish equity analyst, will act as Nordic IR Manager with special responsibility for institutional investors.
http://sinoagrofood.investorroom.com/index.php?s=43&item=132
"The Company is delighted that Mr. Peter Rosta has accepted the position of Chairman of the Board of its beef subsidiary, Qinghai Sanjiang A Power Agriculture Development Co. Ltd. ("SJAP"). "
"The Xining Government has recommended that SJAP participate in the acquisition of two beef subsidiaries of a state owned enterprise, The Sanjiang Group ("SG"). SG is one of the largest agriculture companies in China, with total assets over $15 Billion"
"In addition, the Company has engaged KPMG to conduct financial due diligence on the merger and acquisition of the two subsidiaries, as well as further consulting work at SJAP with the aim to become its official auditor in 2016."
http://www.prnewswire.com/news-releases/...-subsidiary-300083883.html
gewinn : $ 23,73mio
http://www.sec.gov/Archives/edgar/data/1488419/...601/v409705_10q.htm
CFO Bertil Tiusanen commented: "SIAF is a growth company on a trajectory to become a leading sustainable aquaculture company, and already deploys capital efficiently with a high return on invested capital. We will, of course, honor our promise to our shareholders, but as long as growth prospects and capital returns are attractive, most of the Company's cash flow will be reinvested into existing or new projects."
In late first quarter 2015, Prawn Farm 2 ("PF2") began to meet targeted daily sales of five million Giant River Prawn ("GRP", genus species Macrobrachium rosenbergii) post-larvae ("PL," previously referred to as "fries" or "fingerlings"); the same production is anticipated for the remainder of 2015. Sales of GRP PL are expected to generate in excess of $10M in 2015.
PF2 is pursuing a similar course for quality brood stock for the Mexican White and Green Prawn varieties. The Company anticipates that full production for all three varieties will be measured in billions in 2015, with average prices varying from $46 to $114 per 10,000.
https://www.morningstar.com/news/pr-news-wire/...estones-reached.html
http://www.undercurrentnews.com/2015/07/22/...g-up-shrimp-production/
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weiterhin:
Prawn Farm 1, Hylocereus Undatus (HU) Plantation, Cattle Farm 1
June 2015:
https://www.youtube.com/embed/0AontnrbIoE
und:
construction progress at zhongshan new prawn project (megafarm)
June - July 2015:
https://m.youtube.com/watch?v=YyCLpIDwDgg&feature=youtu.be
gewinn: $9,9mio
gewinn/aktie: $0,51
http://app.quotemedia.com/data/...Filed=2015-08-14&cik=0001488419
1. Mr. Fredrik Danielsson of Euro China Capital will be nominated to join the Company's board of directors as an independent director with special focus on finance and capital markets related matters.
2. It is anticipated that the pace of divestments will be faster than initially announced. The Company now aims to assist 3 to 4 of its subsidiaries through either a listing or an M&A exercise within the next twelve to eighteen months.
The decisions do not affect the listing process towards the Oslo Stock Exchange with Arctic Securities as financial advisor, which is moving forward according to plan.
http://www.prnewswire.com/news-releases/...ral-changes-300135166.html
thema:
einführung von fredrik danielsson (new
board nominee), sowie der wandel ( "The Company now aims to assist 3 to 4 of its subsidiaries through either a listing or an M&A exercise within the next twelve to eighteen months.")
von sino agro food hin zur reinen aquaculture company und geplanter börsengang in oslo.
http://cloud.magneetto.com/wonderland/2015_0917_Sino_Agro_Foods/view
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AQUACULTURE LEADER WILL APPLY TO OSLO STOCK EXCHANGE
http://www.kyst.no/hovednyhet/?article_id=116017
In a few years, Sino Agro Food, Inc. (a US listed company, "SIAF," that operates in China) can become one of the world's biggest players in aquaculture. The company has announced that they are in the process of listing on the Oslo Stock Exchange.
Through SIAF's subsidiary, Capital Award, Sino Agro Food produces and sells technology used in aquaculture. The system is called APRAS and stands for "A Power Re-circulating Aquaculture System." In its eleventh generation, the system was continually improved over a long period by the company.
BREAKTHROUGH TECHNOLOGY
Currently, SIAF's APRAS equipped aquaculture operations produce mostly shrimp. Comparing an APRAS plant with a traditional fish farms for rearing of prawn species Mexican White (Litopenaeus stylirostris) in China, the differences are huge. An overview prepared by the company itself shows that in a APRAS plant can produce 50 tons of shrimp per worker, while the equivalent of a traditional open pond shrimp farm is six tons. Using re-circulating aquaculture systems it is possible to harvest 4-5 times a year, whereas a traditional shrimp farm harvests 1-2 times a year.
The company further argues that no antibiotics or chemicals are used in their APRAS operations, and that energy costs account for only 2.5 percent of the total production costs. Corresponding figures for traditional shrimp farming are not available. Average mortality is 8 per cent in the re-circulating aquaculture environment, but exceeds 25 percent in traditional shrimp farming. FCR (feed fed/weight gain) in the APRAS operation is 2: 1, compared to 4.5: 1 in a traditional system, it is claimed.
- Sino Agro Food's Capital Award subsidiary has revolutionized shrimp farming through the use of APRAS and made this farming production significantly more efficient, says IR manager of Sino Agro Food, Tomas Öqvist to kyst.no. Sino Agro Food has no plans to operate aquaculture production facilities outside China at first, but betting that they will eventually sell their farming products to Europe.

MEGA-FARMING
Sino Agro Food is currently working on plans for a giant project for shrimp farming in Zhongshan City, Guangdong Province in China. The project has been named Zhongshan New Prawn Project (ZNPP). - The project will be developed in three phases over a period of 20 years, and will fully developed have an annual production capacity of 200,000 tons of shrimp and fish, says Tomas Öqvist, referring to the project information that is published by the company.
In phase 1 and 2, which extends 10 years into the future, up to 100,000 tons of fish and shrimp will be produced. In phase 3, the capacity will expand so that within 20 years the farm will achieve an annual production of 200,000 tons of fish and shellfish or more. Development of infrastructure, housing, services, and all that jazz are also part of a giant industrial project like this.
- The first tanks will go into production already this autumn, says Tomas Öqvist.
Sino Agro Food is involved in several farming enterprises. But the ZNPP project is of an entirely different dimension than earlier aquaculture farms, such as a farm in Enping, which has an annual output of 1,200 tons, and functions as a demonstration plant for the company's technology.
The Company is pleased to announce it has begun the first of three or four planned divestitures, and is currently exploring various opportunities for a spin-off including a separate listing on the Oslo Stock Exchange ("OSE") for a new Aquaculture Company comprised of its aquaculture operations. Creating a separate entity is a decisive step towards SIAF's vision to become a leading aquaculture company. Seeking a listing on the OSE is in line with the OSE's position as the world's largest and certainly one of the most important financial marketplaces for the seafood sector. SIAF intends to distribute a majority of its holdings in the new company to its shareholders as a result of the spin-off.
For some time SIAF has sought a listing in the Nordic region to facilitate trading of its shares closer to its largest shareholder base. The Company's recent focus has been to achieve a senior listing of the whole SIAF Group on the OSE as soon as practicable, and this process has been in motion since May 2015.
Given today's announcement that the Aquaculture Company will be listed in Norway, and given that the work required for listing is greater than initially estimated, the listing of the group company on OSE listing will not occur during 2015.
http://www.prnewswire.com/news-releases/...-operations-300176593.html
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weitere news:
- "Mega Farm" on SIAF's Investor Tour in September 2015:
https://vimeo.com/141981432
- promotional video produced by the owner of the New Zhongshan Prawn Project. A few inaccuracies were noted, so the comments on the video's page indicate corrections:
https://vimeo.com/143432871
- China Aquaculture Industry Report, 2015-2018
http://www.marketwatch.com/story/...---reportlinker-review-2015-10-28
gross profit: $32,2mio
gewinn/aktie: $1,14
http://app.quotemedia.com/data/...Filed=2015-11-16&cik=0001488419
Key Points
Record setting revenue for the third quarter of 2015 increased by 16 percent to USD 124.7M (107.2). Compared to the second quarter of 2015, revenue growth amounted to USD 33.8M or 37 percent, mainly due to external factors that affected the previous quarter. Revenue from sales of goods increased by 17 percent to USD 96.3M (82.6) primarily due to increased deboning of imported beef at Integrated Cattle Farm (SJAP) and secondarily due to higher seafood production.
Aquaculture sale of goods increased by 24 percent to USD 28.8M (23.2). The increase is mainly due to increased volumes of mixed seafood and prawns. Demonstrating the dynamic nature of RAS, several new, higher profit margin species of fish were sold during the quarter, offsetting the USD 5.5M decrease in eel sales.
Integrated Cattle Farm sale of goods increased by 27 percent to USD 35.5M (27.9) mainly due to increased deboning of imported beef quadrupling production compared to Q3 2014. The increase in deboning volumes substantially offset the effect of lower prices of live cattle.
Revenue from Project Development increased by 15 percent to USD 28.4M (24.6) at a rate exceeding three times the previous quarter. Weather improved in August, and the Company completed roof build out to allow interior construction to continue independent of weather conditions. The Zhongshan New Prawn Project ("ZSNPP") accounted for USD 19.4 M or 68% of Product Development revenue.
Gross profit decreased 6 percent to USD 32.3M (34.5), equivalent to a margin of 25.9% (32.2%). The decrease was mainly due to lower margins at the Integrated Cattle Farm and Aquaculture segments.
Aquaculture gross profit decreased by 22 percent to USD 5.7M (7.2) equivalent to a margin of 19.7% (31.3%). The decrease is mainly due to a lower eel gross profit of USD 5.1M offset by an increase in mixed seafood gross profit of USD 1.8M.
Integrated Cattle Farm gross profit decreased by 26 percent to USD 6.7M (9.1) equivalent to a margin of 18.9% (32.7%). Live cattle gross profit decreased by USD 3.9M, offset by an increase in the gross profit of quarter cut imported beef deboning of USD 1.6M.
Project Development gross profit increased by 2 percent to USD 11.3 (11.0) equivalent to a margin of 39.6% (44.7%).
G&A expenses increased by 11 percent to USD 4.0M (3.6) reflecting ongoing heightened expenses related to various corporate exercises including listing costs.
Stockholders' equity increased by 24 percent to USD 464.3M (373.3) or USD 24.66 per share, based on the weighted average number of fully diluted outstanding shares in the quarter, an increase of USD 21.0M or USD 1.12 per share in Q3 2015.
As of September 30 2015, the Company had unrestricted cash and cash equivalents of USD 9.55M (4.69) and net working capital of USD 304.6M.
Net of 280,000 shares securing a new trade facility, as of November, 12, 2015 the outstanding common share count increased less than .7% compared to 18,951,737 as of the last previously reported date, August 11, 2015.
Subsequent Events and Outlook
A three-year secured trade finance facility amounting to USD 15M was entered into with a China based lender.
The Agricultural Development Bank of China renewed SJAP's credit facility of RMB 60M, supplemented by an additional new project loan of RMB35M for new development or possible M&A activity. Under certain conditions, the project loan may be converted to long-term debt.
First stocking of the Zhongshan project is expected in early 2016 with completion of phase 1 and 10,000 MT of seafood capacity targeted to be achieved in 2016. The delay of the stocking is due to certain workmanship in smoothing all tanks that has not been up to standard, thus requiring refurbishment that delayed the installation work of various filters of the tanks. The delay is not expected to have any impact on the long-term plan of the project. In the meantime, most of the basic infrastructure work for stage 2 of phase 1 has been carried out, preparing for construction of stage 2 tanks starting in December.
At Prawn Farm 2 the Company is finalizing roof work for newly developed RAS covered dams using newly improved APM technology. The aim is to improve production capacity to 6-7 harvests per year instead of 2-3 harvests per year of traditional Chinese open dams, while saving water and power costs and better utilizing land.
SJAP plans to expand its deboning capacity to 12,500 MT/year and its freezer capacity to 10,000 MT. The USD 15M trade finance facility provides revolving working capital for imports. Hence, the Company expects trading revenue to grow faster in the remaining months of 2015 and beyond.
CEO Commentary
CEO Solomon Lee summarized the quarter, "Third quarter results met expectations, returning to top-line growth. Sale of goods in both aquaculture and beef continue to perform well, growing revenue by a combined USD 13M.
Due to external factors, lower profitability in eels and live cattle sales reduced operating margins, mitigated by higher volumes of mixed seafood and beef imports.
We have seen some challenges in 2015. These include structurally lower prices for domestic beef in China, exceptionally heavy rains at the wrong time in Zhongshan, a cyclically weak supply of eel elvers, and a restriction on seafood exports in Madagascar. Overcoming each enhances opportunities for 2016. Historically we have adapted well to adversities that are unavoidable in the agriculture business.
Likewise, now at SJAP we are countering currently moderating margins by transitioning the herd, while still growing revenue by deboning imported beef. We are also engaging new export suppliers to replace those in Madagascar, while expanding import and distribution of beef from Australia.
In Aquaculture, similar to the second quarter, the cyclically weak supply of eel elvers resulted in reduced sales of eels. We introduced new fresh water species partially offsetting the decrease in sales, taking advantage of changing market conditions and prices.
Project development activity and profitability in the third quarter was restored compared to the second quarter. I look forward to reporting stocking and sales at ZSNPP during 2016.
Investments made in previous years at the HU-plantation to increase resilience and yield have paid off in the third quarter, with good performance despite challenging weather throughout this year's season.
The value of our individual assets has rarely been perceived according to potential. It was not until we proved compelling economics that outside perceptions improved materially, broadening our opportunities. This is why the time is right to begin to spin-off self-sufficient businesses.
Restructuring our businesses as standalone organizations will create better understood and more appreciated businesses, bringing more value to our shareholders. As announced last week, a separate listing of our aquaculture operations is now underway in Norway; the leading capital market for seafood and the perfect home for our Aquaculture business."
http://cloud.magneetto.com/wonderland/...ino_Agro_Food_Q3_Report/view
On the business operation and development side, I would like to take this opportunity to talk briefly about The Zhongshan New Prawn Project. We are on the verge of completing Phase 1 Stage 1 soon. This stage will eventually allow the production of 6,000 metric tons of prawns per year. Based on that alone, we will be the largest RAS prawn producer in the world and we demonstrate commercial viability and substantial ability, producing high quality, safe food from a fully ecologically sound and environmentally friendly project.
Now turning into turnover, at the current prices, I think the 6,000 metric ton will come close to a $100 million of turnover. Under our system, we can comfortably achieve between 50% and 56% effective margins on the growing of the prawn.And at the same time, every time we feel we also have earn a development and consulting services fees. The second phase, I think it will start mid-year, next year sometime. But because the second phase that we are building is almost redoubling the size of the Phase 1. They’re coming into 20,000 metric ton for that phase. So that will take at least one and a half years or more to complete that sector.
As we reported in our 2015 10-Q, Prawn farm 2’s development of the new RAS covered dams on 20,000 square meter broker land using our newly improved APM technology for open dams is just about complete. That will improve the product capacity aiming at 6-7 harvests per year instead up to 2-3 harvests per year of the open dam using traditional agriculture systems currently used in China.
Also reported in Q3 2015 10-Q, SJAP is expanding to increase its deboning capacity to 12,500 metric ton per year and its freezing capacity to 10,000 metric ton per year.
We have decided to spin-off agricultural assets and seek a separate listing for them on the Oslo Stock Exchange. We will create a pure-play company with considerable assets and high growth potential.
I think it is important for shareholder to remember that above and beyond the company’s execution to achieve growth, our efforts to spin-off asset and to list this on respectable and appropriate marketplaces, our aim at transparency and improved value visibility more in line with our peer groups.
Stockholders' equity increased by 24% year-over-year to $464.3 million or $24.66 per share, based on the weighted average number of fully diluted outstanding shares in the quarter, an increase of $21 million or $1.12 per share in Q3 2015.
The Company is pleased to announce the approval for admission to trading of its common shares on the Oslo Bors' Merkur Market. Trading is expected to commence onJanuary 13, 2016 under the symbol "SIAF-ME," subject to satisfaction of conditions for admission to trading as described below. The Company's common shares will continue to trade on the OTCQB under the symbol "SIAF."
http://sinoagrofood.investorroom.com/index.php?s=43&item=161
http://www.oslobors.no/ob_eng/markedsaktivitet/#/...-ME.MERK/overview
bell ceremony:
http://e24.no/boers-og-finans/oslo-boers/...nye-markedsplass/23595221
SIAF CEO Solomon Lee commented, "I am very pleased to have our Company's securities traded on the Merkur Market. This represents one culmination of our efforts to broaden trading accessibility for current and future security holders in Europe, the U.S. and Asia, and to raise the Company's profile, as Norway is host to the largest financial seafood cluster worldwide."
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13G: Nordnet Pensionsförsäkring AB
http://app.quotemedia.com/data/...Filed=2016-01-14&cik=0001488419
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Swedbank mit Kaufempfehlung für Sino Agro Food ( KZ $15)
http://www.vafinans.se/aktier/nyheter/...nts-kurspotential-1001002058
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SIAF wechselt von OTCQB zu OTCQX U.S. Premier (19.01.2016):
http://www.otcmarkets.com/stock/SIAF/quote
http://www.otcmarkets.com/market-activity/otc-tier-changes
OTCQX = The top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group.
This tier is designed to identify large, high-quality issuers that would qualify to list on a national stock exchange.
OTCQX for U.S. Companies is comprised of two distinct tiers, OTCQX U.S. and, for companies able to meet our highest standards, OTCQX U.S. Premier. OTCQX U.S. Premier Standards are aligned with financial standards of markets recognized by many states for issuer exemptions from blue sky laws.