Recently, Qingdao Haoda Marine Biotechnology Co., Ltd. (hereinafter referred to as "Haoda Ocean" or "Haoda Group") submitted listing application materials (prospectus) on the Hong Kong Stock Exchange Growth Enterprise Market (GEM), preparing to start a business on the Hong Kong Stock Exchange It is listed on the board, with Zhongtai International as its exclusive sponsor.
According to Beido Finance, Vast Ocean was established in 1999. According to the introduction, the company focuses on the research, application and development of marine active substances, the research, development, production and sales of marine functional and health foods. Its main business covers marine functional and health foods, marine natural food raw materials, marine medical equipment and marine Pharmaceutical intermediates and other fields and intermediates.
Prior to this, Haoda Ocean had listed on the New Third Board with the code "872031," and then terminated the listing in August 2019. Since then, Haoda Ocean also submitted approval materials for overseas initial public offerings of shares to the International Department of the China Securities Regulatory Commission in September 2020, but the review was terminated in May 2021.
In November 2021, Haoda Ocean once again applied for listing overseas. The prospectus shows that the company is mainly engaged in the health product business in China, especially focusing on the development, production, promotion and sales of health foods. Most of the company's products focus on seafood, derived from marine organisms and plants, such as shrimp and abalone.
According to the Frost & Sullivan Report, Haoda Ocean ranked fifth in China's marine health food industry in terms of sales value in 2021, with a market share of approximately 1.0%. The share is about 0.1%. At the same time, the company also develops medical products, natural food ingredients and other businesses. The
prospectus shows that the total revenue (income) of Haoda Ocean in 2019, 2020 and 2021 is approximately 69.844 million yuan, 80.421 million yuan and 85.611 million yuan respectively, and the gross profit is approximately 36.192 million yuan, 40.689 million yuan and 46.933 million yuan respectively. yuan, with net profits of 13.540 million yuan, 11.873 million yuan and 22.96 million yuan respectively.
Vast Ocean stated in its prospectus that since its establishment in 1999, the company has developed a broad product portfolio focusing on marine products. Most of the company's revenue comes from the sales of health foods, which accounted for approximately 82.1%, 79.8% and 88.1% of revenue during the reporting period.
Haoda Haiyang said that the health food is mainly made of patented formulas developed over many years. It is the culmination of the dedication and expertise of the company's R&D team and is a testament to the company's success and strong brand awareness. In contrast, the contribution of seafood products was 8.6%, 7.9% and 1.3% respectively, with revenue in 2021 falling to 1.090 million yuan, a year-on-year decrease of approximately 82.8%.
In response, Haoda Ocean explained in its prospectus that it had stopped operating seafood business in the second half of 2021. According to reports, Haoda Ocean sells seafood products through its own brand name "Haoda Jixian". Packaged seafood products can be roughly divided into multiple categories such as fish, shrimp, abalone, scallops, clams and other processed seafood products.
This means that Haoda Haiyang has focused on the health food business. Therefore, Haoda Ocean stated many times in its prospectus that the company is mainly engaged in the health care product business in China. According to the prospectus, Haoda Ocean's health food business is mainly sold through its own brands "Yangnian Kangbao", "Baoshenling", "Guge", "Beirijian" and "Haizilai".
is aiming to be listed on the Hong Kong Stock Exchange. Haoda Ocean plans to use the funds raised from the IPO to set up six regional offices in first- and second-tier cities in China; to open six concept stores in China; to increase production capacity and launch new health products ; Used to enhance research and development capabilities; used as general working capital. The
prospectus shows that Haoda Ocean mainly sells health food and medical products through distributors in China, while natural food raw materials and others are sold through direct sales. In 2019, 2020 and 2021, distribution accounted for approximately 84.3%, 84.0% and 89.8% of its total revenue respectively.
It is worth mentioning that in 2020, Haoda Ocean discovered problems in a random inspection of food quantitative packaging commodity manufacturers (tea and related products) organized by Qingdao Municipal Market Supervision Administration . The issues involved were "registered The residence (business premises) cannot be contacted”.
According to information from Enterprise Chacha , in May and June 2021, Haoda Ocean also discovered problems during random inspections of the Food Production Department and the Food Department, and the result was "the problems were found and ordered to be corrected."
According to a previous report by Xinwang, a subsidiary of Peninsula Metropolis Newspaper of the Popular Newspaper Group, the Chengyang District Labor Inspection Bureau of Qingdao City issued a correction notice to Haoda Ocean at the end of 2020 and early 2021, requiring it to make corrections in 2021 due to arrears in employee wages. Pay the employees involved in the case 15,000 yuan in wages before January 12, 2020.
