Guangdong Haid, an aquafeed firm based in Guangdong, China, is projecting a 15 to 32 percent increase in profits in the third quarter of 2022.
In recently issued guidance, the company said it expects to post a net profit of CNY 2 to CNY 2.3 billion (USD 275 million to 317 million, EUR 279 million to 321 million) in Q3 2022.
The results confirm that Haid, one of China’s top three feed supplier with a seven percent share of the feed market, has consolidated its position as the top player in China’s aquaculture feed industry. The company has benefited from a resurgence in Chinese pig production after an African swine flu epidemic.
Haid was recently named in a recent Goldman Sachs report as one of three firms expected to will dominate China’s feed industry into the future in a recent report by Goldman Sachs.
As part of a joint venture with international commodities trader Louis Dreyfus, Haid is building a feed processing plant at the Fuling Food Industrial Park in Nansha, Guangzhou. It is also building a separate aquafeed facility in Tianjin, China, with Donlink Group that will have an expected annual production capacity of 300,00 metric tons of feed.
Elsewhere, another feed company and eel producer, Fujian Tianma Science and Technology Group Co., has projected that net profits grew 186 percent year-on-year in the first three quarters of 2022. The company has invested significantly in increasing its eel output as a buffer to decreasing margins in the highly competitive pig and poultry feed sector.
Photo courtesy of Guangdong Haid
