The Hunan Yumeikang Biotechnology Group, one of China’s largest aquaculture-focused feed, additives, and pharmaceutical firms, has signaled that it will seek to be listed publicly by 2024.
In a January announcement, Yumeikang CEO Zhang Song Bai said he will aim to have the firm listed in 2024, fulfilling a long-stated company goal.
A top supplier to crab and crayfish farmers, Zhang also announced a CNY 110 million (USD 16.5 million, EUR 14.3 million) expansion of its main manufacturing base in central China, which it built in 2018. The firm will spend funds on expanding its production of inputs for freshwater crustacean production to tap into rising consumer demand for crab, crayfish, and shrimp.
Yemeikkang spent CNY 200 million (USD 30 million, EUR 26 million) on constructing the 65,000-square-meter plant just three years ago. It is located in an industrial park in the city of Yueyang, Hunan Province, in the heart of China’s freshwater crab aquaculture. With the new investment, the facility’s size will be doubled, and the enlarged space will host enhanced seafood processing capacities as well as a manufacturing facility for feed mixes, medicines, and R&D department.
Yumeikang has sought to become a leading provider of feed premixes, water purifiers, and antibiotic products in Southeast Asia, actively seeking distributors across the region. And it has moved into value-added snack products – the Yueyang facility already features a system for liquid nitrogen freezing of seafood snacks like steamed buns – and crustacean farming itself, investing significantly in large-scale aquaculture facilities in recent years.
