A Chinese producer of seafood and aqua-feed has had a bumper start to trading after getting listed on the Shanghai Stock Exchange.
One of the world’s leading producers and exporters of eel, Fujian Tianma Science & Technology Co. saw its share price jump 44 percent on the first day of trading recently. The firm is planning to expand into high-end feed for mariculture, including fish types such as bass, turbot and croaker. This is in response to a gradual slide in recent years in pricing for freshwater species, according to company chairman Chen Qing Tang. Tang said the firm is positioning itself as a “high tech feed company” for the seafood industry.
Signaling what Chen believes is a significant shift towards higher-priced species among Chinese consumers, he pointed to two major local aquafeed players, Tongwei Group and Guangdong Haid, which he said are also repositioning themselves to cater for higher-value species, rather than cheaper freshwater produce.
Joined by Zhang Fan, the mayor of Fuqing, for the ceremonial banging of the gong to commence trading, Chen said his firm had a significant head start due to its experience developing high-specification feed formulas for eel farms.
