On March 1, 2017, Sino Agro Food carved-out its aquaculture businesses to reform Tri-way Industries, Ltd. (TW), which had previously been a wholly owned entity, and which owned a limited set of assets. SIAF holds a 36.6% ownership interest in the new TW.
Since the carve-out, Tri-way has assumed responsibility for all marketing, sales, and distribution of products from its APRAS fish and prawn farms:
Operated by Sino Agro Food's wholly-owned subsidiary, Capital Award, Inc., (CA), the Aquaculture division is the Company's business unit that sells seafood. Revenue for three months ended 30 September 2015 was USD 28.8 million, or 23 percent of the Group's total revenue of USD 124.7 million in the same period. Net Gross profit for the Aquaculture division for the three months ended 30 September 2015 was USD 5.7 million, or 18 percent of the Group's total gross profit of USD 32.3 million in the same period.
Through CA, the Company holds a master license in China for A Power Technology (APT). APT is a modular land-based fish growing system and technology. The system and technology are based upon a Recirculating Aquaculture System (RAS). In an APT designed fish growing system, fish are grown in what is called an A Power Module, ("Module"). Fish are grown indoors in an enclosed Module under fully controlled conditions. Thus fish growing is not subject to seasonal variations.
SIAF’s eleventh-generation technology is known as A Power Recirculating Aquaculture System, or APRAS.
APT is an environmentally friendly system that recycles all water and waste without causing any adverse impact on the environment. It will enable the consistent production and supply of fish within close proximity to an urban area on a year round basis. The RAS system has been used commercially in Europe and Australia for the past 30 years and the APT system has been commercially used in Australia since 1998. However, RAS and APT system technologies are new to Asian countries including China.
Photographs of SIAF's Aquaculture Operations:
Views of APRAS tanks at Aquafarm 2.
The hatchery at Aquafarm 3.
APRAS tanks at Aquafarm 1