Guolian Aquatic: lease or sell aquaculture assets, and no longer engage in aquaculture business!

Wed, 06/22/2022 - 21:51
Guolian Aquatic
Guolian Aquatic official website

On June 18, the board of directors of Zhanjiang Guolian Aquatic Products Co., Ltdissued the latest announcement:

In view of the continuous losses in the upstream aquaculture sector of Zhanjiang Guolian Aquatic Products(hereinafter referred to as "the company"), according to the company's strategic plan to compress the upstream business aquaculture business and focus on the aquatic food industry, and in combination with the actual situation of the company, the company plans to lease the company's deep-water cage aquaculture production facilities located in the Nansanji, and sell the fish stored in the cage. At present, both the lessee and the receiver are determined as Zhanjiang Nanfang Aquatic Products Market Management Co., Ltd. (hereinafter referred to as "Nanfang aquatic products"). Nanfang aquatic products is the related party of the controlling shareholder of the company. According to the relevant provisions of the Shenzhen Stock Exchange GEM Listing Rules, this transaction constitutes a related party transaction.

The upstream sector of the company has been in a relatively large loss in recent years. The company has rented and sold some upstream aquaculture facilities to store fish in net cages, and stopped the loss in time, which is conducive to reducing the company's capital investment in the upstream sector and focusing the capital investment on the aquatic food processing business.

After stripping the upstream aquaculture business, the company will focus more on the development of the main food processing industry. The company will promote in-depth cooperation between large breeding individuals and cooperatives and the company by means of vertical alliance, bundling operation and key empowerment, so as to ensure the stability of the company's product supply, quality stability and optimal sustainable cost.