New Stock News | TianNong Food Submits Application to Hong Kong Stock Exchange as the Largest Supplier of Qingyuan Chicken in China

According to the disclosure by the Hong Kong Stock Exchange on October 30th, Guangdong Tiannong Group Co., Ltd. (referred to as "Tiannong Food") has submitted its listing application to the main board of the Hong Kong Stock Exchange, with CMSC International as its exclusive sponsor. The prospectus shows that, according to Frost & Sullivan report, based on the output of Qingyuan Chicken, in each year during the performance record period, Tiannong Food was the largest supplier of Qingyuan Chicken in China. According to the prospectus, since its establishment in 2003, Tiannong Food has gradually developed from a regional poultry farming enterprise into one of the leading high-quality meat and meat product providers in China. The company has built a vertically integrated full industry chain operation system around core products such as Qingyuan Chicken, pigs, and related meat products. The company's business model covers the entire value chain, including breeding, good breed reproduction, ecological farming (through self-operated farm and family farm models), feed production, slaughtering, food processing, and brand marketing. The prospectus mentions that, according to the Frost & Sullivan report, in 2024, Tiannong Food held a market share of approximately 59.3% in the Qingyuan Chicken market in China, surpassing the sum of all other Qingyuan Chicken providers in China, and ranking second among all Huangyu chicken providers in Guangdong Province. In terms of the pig business, based on the Frost & Sullivan report, as of December 31, 2024, Tiannong Food ranked eighth among pig farming enterprises in Southwest China in terms of revenue, and second among large-scale pig farming enterprises in China in terms of single pig profit margin as of December 31, 2024. Tiannong Food offers a comprehensive product portfolio, mainly including Qingyuan Chicken, other native chickens, pig products, fresh and other products, to meet consumers' ever-changing preferences. With its own expertise in Qingyuan Chicken breeding and farming, the company has established a diversified product portfolio, including fresh products, meat products, and other products, covering whole fresh chickens, segmented chicken meat, semi-finished and cooked products, mainly sold under its own brands "Tiannong" and "Fengzhonghuang" for fresh and other products. Its brand matrix covers products with different breeding cycles, feeding methods, and flavor characteristics, such as "Tiannong 138 Qingyuan Chicken," "Tiannong 168 Qingyuan Chicken" and "Fengzhonghuang Qingyuan Chicken." Other products also include Changshun green shell eggs, which are also certified by the Ministry of Agriculture and Rural Affairs Shenzhen Agricultural Power Group for their geographical indication. The following map and table show the geographical distribution of the company's main production facilities and sales areas as of June 30, 2025. In terms of performance, for the six months ended June 30 of 2022, 2023, 2024, and 2025, Tiannong Food achieved revenues of approximately 3.952 billion yuan, 3.596 billion yuan, 4.776 billion yuan, and 2.221 billion yuan respectively; while the profits for the same period were approximately 341 million yuan, -669 million yuan, 890 million yuan, and 127 million yuan respectively.