The Company owns and operates 5 Aqua farms (AF1, AF2, AF3, AF4 & AF5) in Guangdong province, which ranked first in aquaculture production in China and located in the tropical and subtropical monsoon climate, that means climate conditions are very conducive to our aquaculturing.
Aqua farms under the Company will be in aggregate designed production capacity of 72,800MT upon full completion of construction in 2019. Its Zhongshan aquaculture megafarm with designed capacity of 70,000MT is becoming the world’s largest integrated RAS aquaculture farm on a standalone basis.
The aquaculture operations each have the ability to grow a variety of seafood species, including prawns. This was one reason to change their designation to“aquafarms.” The proportion of production will vary from quarter to quarter. Aquafarm 4 began production in the fourth quarter of 2016. Through the first nine months of 2016 AF1-3 produced 8,999 metric tons: sleepy cod (321), Giant Mottled Eel (265), Prawns (1,844), and Finfish (6,569), generating revenue from the sale of goods of $57.5M and gross profits of $13.1M.