The Shanghai-based and Singapore-listed People's Food Holdings considers that the Chinese meat market, which currently has thousands of producers, will consolidate over the next five to 10 years and it aims to become one of the leading players. The company's statement coincided with its secondary listing on the Hong Kong Stock Exchange in October.
Founded in 1994, the company slaughters pigs and markets meat products. Low-temperature meat products account for less than one-tenth of its total sales, but give it higher profit margins. It therefore intends to expand this area of its business, as part of a plan that involves spending Yn20m on acquiring a plant in Heilongjiang province and doubling its advertising expenditure. The firm also plans to set up a chain of 300 retail outlets to penetrate the market for fresh pork products.