New Stock News | Gao Long Oceans Submits Application to the Hong Kong Stock Exchange to Become the Leading Enterprise in the Domestic Market of Refined and Concentrated Fish Oil for Feed Grade

According to the disclosure made by the Hong Kong Stock Exchange on January 12, Gaolong Ocean Group Limited (hereinafter referred to as "Gaolong Ocean") has submitted an application for listing on the Main Board of the Hong Kong Stock Exchange, with Yuexiu Financing as its exclusive sponsor. The prospectus shows that Gaolong Ocean is a reputable Chinese company specializing in the refining and concentration of feed-grade and food-grade fish oil. According to the Zeon Consulting report, as of the fiscal year ending December 31, 2023, Gaolong Ocean holds a market share of 24.8% in the Chinese feed-grade fish oil refining and concentration market, ranking first. In addition, the company also accounts for 9.8% of the total fish oil exports in China as of the fiscal year ending December 31, 2023. Furthermore, in the same fiscal year, the company holds a market share of 3.2% in the CHINA FOODS-grade fish oil refining and concentration market, ranking eighth. Since its establishment in 2008, Gaolong Ocean has been engaged in the business of feed-grade fish oil refining, and started venturing into the business of food-grade fish oil refining and concentration in 2012. The group initially imported crude fish oil from South America, refined feed-grade fish oil as its main product. With the continuous development of the Chinese fishery and fish oil industry over time, Chinese-origin fish oil has become increasingly popular. The group gradually shifted to using Chinese feed-grade crude fish oil with similar quality characteristics, and selling Chinese-origin feed-grade fish oil. During the past performance period, due to the quality, reputation, and high customer recognition of South American food-grade fish oil products, the company mainly used crude fish oil from South America to produce food-grade fish oil products. In terms of industry trends, as awareness of the benefits of omega-3 fatty acids for health and the use of food-grade fish oil continues to rise, consumer understanding of fish oil also continues to increase. According to the Zeon Consulting report, global consumption of food-grade fish oil (excluding China) is expected to increase from 172,000 tons in 2023 to 232,000 tons in 2028, with a compound annual growth rate of 6.1%. Consumption of CHINA FOODS-grade fish oil is expected to increase from 30,000 tons in 2023 to 43,000 tons in 2028, with a compound annual growth rate of 7.2%. Financially, Gaolong Ocean achieved revenues of approximately 246 million yuan, 464 million yuan, 532 million yuan, and 245 million yuan in the fiscal years 2021/22, 2022/23, 2023/24, and the first half of 2024, respectively. Gross profits were approximately 44.546 million yuan, 113 million yuan, 119 million yuan, and 36.634 million yuan, respectively.