DGAP-News: Haikui Seafood AG: IPO at the Frankfurt Stock Exchange in second quarter
(firmenpresse) - DGAP-News: Haikui Seafood AG / Key word(s): IPO
Haikui Seafood AG: IPO at the Frankfurt Stock Exchange in second
quarter
29.03.2012 / 10:59
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Haikui Seafood AG: IPO at the Frankfurt Stock Exchange in second quarter
- IPO in the Prime Standard
- Internationally established processor of high quality seafood and fish
specialities
- Sales of EUR 152.1 million and net profit of EUR 28.3 million in 2011
- Compounded annual net profit growth rate of 25.4% between 2009 and 2011
Hamburg, March 29, 2012 - Haikui Seafood AG is preparing for an IPO in the
Regulated Market/Prime Standard on the Frankfurt Stock Exchange for the
second quarter of 2012. Haikui Seafood processes high quality fish and
seafood for international markets and the Chinese market. Due to the early
adoption of European and U.S. food safety standards as well as through its
strategic location within one of the most important areas for seafood
processing in China, Haikui Seafood is very well positioned to meet the
demand for high quality seafood worldwide. The company expects further
growth stimuli to derive from the international markets and from the demand
of the Chinese population for high quality seafood products, which is
growing disproportionately fast. The Management Board of Haikui Seafood
regards the IPO as a key step in the strategic development of the company.
The product portfolio of Haikui Seafood contains more than 100 different
consumer products of frozen and canned fish and seafood, including prawn,
crab, various species of fish and shellfish as well as cephalopods. The
company's products are exported via distributors mainly to European
countries and the U.S., but are also sold in China under the proprietary
brand 'Haikui'. In 2011, Haikui Seafood generated 68.1% of its sales abroad
in international markets and 31.9% of its sales in China.
Substantial growth during the past three years
With its balanced business model, which serves the domestic market for
branded and white label products as well as the international market for
white label products, Haikui Seafood achieved sales of EUR 152.1 million in
2011. The profit from operations (EBIT) reached EUR 34.0 million. The net
profit amounted to EUR 28.3 million, representing a net profit margin of
18.6%. During the past three years, Haikui Seafood achieved a compounded
annual sales growth rate of 26.8% and a net profit growth of 25.4%.
Annual processing capacity of approximately 28,500 tons (output)
The global consumption of fish and seafood rises steadily, driven by a
growing population and a shift in consumer preferences towards a
well-balanced diet. The average global annual per capita consumption of
fish and seafood increased from 13.5 kg in the year 1990 to an estimated
17.8 kg in 2011. For China in particular, being the domestic market of the
company, a disproportionately high growth of the per capita consumption is
expected, driven by steadily rising incomes.
Haikui Seafood is one of few processing companies in China, having met
European and US food safety standards early on, offering both frozen and
canned fish as well as seafood products. The processing facilities have an
annual production capacity of around 28,500 tons (output). Based on the
sales figures of 2011, the company holds an estimated market share within
the Chinese market forprocessed, packed and labeled fish and seafood
products of 5.2%.
Strategically favourable location
The company's processing facilities are located on Dongshan Island in the
South-East of the People's Republic of China, between the East Chinese Sea
and the South Chinese Sea. The location offers a direct access to rich,
diverse and sustainable fishing grounds. Haikui Seafood does not operate
fishing vessels and/or aquaculture farms. In contrast to many other Chinese
large-scale fish processing enterprises, importing raw materials from all
over the world, Haikui Seafood sources its raw goods mainly from local
suppliers. In 2011, wild capture contributed approximately 60% to the
company's revenue and the remaining part was sourced from aquaculture
farms. The fishing grounds of the suppliers of Haikui Seafood are in the
South and East Chinese Sea, leading to comparatively short supply routes
from the fishing grounds to the processing facilities. The Dongshan Special
Economic Zone, equipped with modern infrastructure, that could support the
landing of international fishing vessels, is expected to be operational by
the end of 2013. Once the Dongshan Special Economic Zone becomes
operational, the supply of raw fish and seafood from international fishing
vessels operating in deep water fishing grounds of the South and East
Chinese Sea would create further sourcing opportunities and bring
additional benefits in the mid to long term. The company plans to enlarge
its processing facilities by upgrading its existing facilities and building
a new factory. Both current and future facilities are located near the
government promoted Dongshan Special Economic Zone.
About Haikui Seafood AG
Haikui Seafood AG processes fish and seafood for the Chinese and
international markets. The product portfolio comprises more than 100
different products from frozen or canned fish and seafood, produced from a
large variety of species of raw fish and seafood, including prawn, crab,
various fish species and shellfish as well as cephalopods. Clients of
Haikui Seafood are distributors in China and overseas, located mainly in
Asia, the U.S and Europe. Haikui Seafood employs more than 600 permanent
employees and has an annual processing capacity of around 28,500 tons
(output). The processing facilities are located in the South-East of China
on Dongshan Island, Zhangzhou, Fujian Province. The Haikui-Group operates a
streamlined supply chain including self-owned processing facilities,
in-house research and product development capacities as well as warehouses
and cold storage facilities, while simultaneously cooperating closely with
raw goods suppliers.
For further information please visit www.haikui-seafood.com or contact
Kirchhoff Consult AG
Dr. Kay Baden
Tel.: +49 (0)40 609 186 39
baden(at)kirchhoff.de
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities. The offer will be made solely by means of and on the basis
of a securities prospectus, which will be published after approval by
BaFin.
This document is not an offer of securities for sale in the United States
of America. Securities may not be offered or sold in the United States of
America absent registration or an exemption from registration under the
U.S. Securities Act of 1933, as amended. The shares in Haikui Seafood AG
have not been and will not be registered under the U.S. Securities Act of
1933, as amended, and are not being and will not be offered or sold in the
United States of America.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'qualified persons'). All securities
referred to herein are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such securities will
be engaged in only with, qualified persons. Any person who is not a
qualified person should not act or rely on this document or any of its
contents.
End of Corporate News
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29.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Haikui Seafood AG
c/o Beteiligungsgesellschaft Cremon mbh, Stadthausbrücke
1-3
20355 Hamburg
Germany
Phone: +49 40 60 91 86 - 0
Fax: +49 40 60 91 86 - 60
E-mail: haikui(at)kirchhoff.de
Internet: www.chinahaikui.de
ISIN: DE000A1JH3F9
WKN: A1JH3F
Listed: Regulierter Markt in Frankfurt (Prime Standard)
Notierung vorgesehen / intended to be listed
End of News DGAP News-Service
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162935 29.03.2012
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