Thanks for your questions posted over the past week. I am happy to answer your questions online. I will repost the questions in blue italics followed by my comments in black.
Kenny the fish
Dear Derrick, you wrote:
Aquaculture seems to be the driving force for the increase in net profit. Will you be growing this organically or acquiring other existing aquaculture business to speed up the growth momentum?
Hi Derrick,
We are open to acquiring existing aquaculture businesses to speed up the growth momentum. However, our approach to the aquaculture business is different from many existing businesses, hence we will grow this business internally initially.
Happy New Year!
Kenny the fish
Dear Andy, you wrote:
Will Qian Hu continue to report on a quarterly basis even though it is not required to? I feel semi-annual reporting is sufficient and the cost savings can be channelled to shareholders as additional dividend.
Hi Andy,
Our board has decided to switch to semi-annual reporting from this year onwards, 1H2020 and FY2020.
Happy New Year!
Kenny the fish
Dear Grace, you wrote:
Is the export of your Accessories made in China to the US market affected by tariffs?
Hi Grace,
Aquarium accessories are not tariffs sensitive products. So far we are able to export to the US market. However, the US is not our major market for now.
Happy New Year!
Kenny the fish
Dear Edwin, you wrote:
Have you patented the herbal medications formula for your antibiotic-free edible fish? I think you would make much more money by deriving royalties from the rights of the formula to animal pharmaceutical companies.
Hi Edwin,
We patent most of our inventions. For the herbal medication, we have decided not to file the patent for now so as not to reveal the ingredients.
Happy New Year!
Kenny the fish
Thanks again to all the investors who have posted their questions here. I hope I have answered them to your satisfaction. The next chance for us to correspond again will be the time when we announce our Half Year 2020 results. In the meantime, do feel free to visit our corporate website: http://www.qianhu.com/ and our IR website: http://qianhu.listedcompany.com/ for more information.
Take care and I look forward to our next online Q&A.
Kenny the fish