New stock news | The world's largest caviar company, Sturgeon Technology, has submitted an application to the Hong Kong Stock Exchange. There are already eight sturgeon farming bases and two processing bases in operation.

According to the disclosure on October 30 by the Hong Kong Stock Exchange, Hangzhou Qian Dao Lake Sturgeon Technology Co., Ltd. (hereinafter referred to as: Sturgeon Technology) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC SEC and China Securities Co., Ltd. International as its joint sponsors. The prospectus revealed that Sturgeon Technology is the world's largest caviar company. According to data from Zhoushi Consultancy, the company has been the world's number one in caviar sales for 10 consecutive years since 2015. From 2021 to 2024, its caviar sales have continuously accounted for over 30% of the global market, reaching 35.4% in 2024, more than five times that of the second largest company. The company has established the globally renowned caviar brand "KALUGA QUEEN". According to the Food and Agriculture Organization (FAO) of the United Nations, global sturgeon catch reached a historical peak in 1977. Since the 21st century, the supply of farmed caviar has been gradually increasing. However, due to the long investment cycle and large scale of investment required for farmed sturgeon, the global caviar supply still remains far below the historical peak, leading to a long-term shortage in the market supply. The global caviar sales in 2024 were 729.2 tons, and are expected to reach 1,230.9 tons in 2029, with a compound annual growth rate of 11.0%. It is estimated that the sales in 2029 will still be far below the 1977 level, indicating a significant supply-demand gap. According to the data, China is currently the world's largest producer of caviar, with caviar sales reaching 379.3 tons in 2024, accounting for 52.0% of the global market. In terms of future supply, China is expected to be the main source of global caviar production growth, with caviar production in China expected to reach 796.7 tons in 2029, with a compound annual growth rate of 16.0%, accounting for approximately 64.7% of global supply. Sturgeon Technology has long been the exclusive provider of its own branded products for first class cabins of major international airlines such as Lufthansa, Singapore Airlines, and CATHAY PAC AIR. Its caviar products are widely supplied to many Michelin-starred restaurants worldwide, and have been selected for the Oscar banquet. As of June 30, 2025, the company has eight sturgeon breeding bases and two processing bases in operation. Financially, the company achieved revenues of approximately RMB 491 million, RMB 577 million, and RMB 669 million in the years 2022, 2023, and 2024 respectively; with profits of approximately RMB 233 million, RMB 273 million, and RMB 324 million during the same periods.