China aquaculture firm invests in sport-fishing start-up
Seeking to cash in on rising incomes, Dahu Aquaculture Co is investing CNY 5.1 million (USD 750,000, EUR 668,000) in a start-up that will promote sport fishing to China’s middle classes.
Freshwater-focused Dahu, which is listed on the Shanghai Stock Exchange, set up Beijing Shanshui Chui Diao Angling Leisure Culture Co. with Beijing-based promotion company Shanshui Shui Chuang Wenhua Chuan Bo Ltd., taking a 49 percent stake.
There are more than 90 million active anglers in China and “limitless potential” to grow the sport as a lucrative industry, Dahu told its own investors in a statement. The new company will “introduce famous angling brands and athletes” to China while also engaging in TV production and promotion activities as well as domestic and international tourism.
Given the boom in China’s domestic and outbound tourism spending in recent years, the new move could prove lucrative for Dahu, which is best known as a producer of freshwater crabs.