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Sino Agro Food Inc (SIAF)

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Sino Agro Food, Inc. (SIAF) is a vertically integrated, fast growing and technology-focused Chinese agriculture firm whose subsidiaries build and operate beef, sheep, aquaculture and produce farms. It follows many organic principles, and aims to create products as naturally as possible. Managed by an experienced international team, the Company has operations in three provinces and sells throughout China.
SIAF's strategy is to work towards full vertical integration, from farm to table, by expanding production and processing operations, while at the same time creating brands and restaurant outlets (via joint venture) for its products. The Company is currently active in aquaculture, cattle farming, livestock feed and fertilizer manufacture, produce farming and restaurant design and development. It is developing brand names in aquaculture and beef products, adding processing facilities, and is now involved in sheep farming. Though the Company sells throughout China, and even exports some of its products, its principal operations are in Guangdong Province, Qinghai Province and Hunan Province, as is shown in chart below.
The Company's agricultural projects generally begin with formation of a Sino Foreign Joint Venture Company (SFJVC) between one of its subsidiaries and a Chinese joint venture partner (or partners), with the SIAF subsidiary initially owning 25% of its equity. The Chinese partner acts as the project principal, initially owns 75% of the joint venture and usually contributes funding and land to the venture, while SIAF provides technology, construction and management services for a turnkey solution. The SIAF holding companies that undertake these projects are mainly located outside China, in Belize, Macau and Hong Kong, while the joint venture entities are Chinese companies. An important part of the development process is forming alliances with the farmer cooperatives that raise SIAF's cattle headcount requirements; SIAF provides them with infrastructure and education. Once a project is operational and profitable, SIAF typically increases its ownership in the joint venture from 25% to 75% and consolidates the project's operations into its financials.
The Company divides its fast growing operations into four standalone business units; fishery, cattle, HU flower plantation and fertilizer, enzymes and livestock feed. The commonality between the divisions is that each is operating in a comparatively slow growth consolidating market; SIAF has a strategy of targeting niches of these markets with their high quality products. The Company has described its strategy as wanting to be the highest quality with high margins, but not the largest firm.

In P.R.C. the rapid progress of industrialization of the last decade has unbalanced the needs of developments and activities of the agriculture industry, (i.e. diminishing of agriculture land, scarcity of farm laborers, industrial pollution and the generally over usage of chemical etc.). Therefore the P.R.C. Government has in recent years directed many incentive schemes and policies with the aim to revitalize and to modernize its agriculture industry. (i.e. Protection of agriculture land, stringent laws in governing the ownership and usage of agriculture land, tax free incentive applying to incomes generated from the industry and enforcing environmental friendly developments etc.)Management of the Company has many years of practical and professional experience in various and many sectors of the agriculture industry and decided in year 2004 that it was the right timing and there would be many opportunities available to develop agricultural ventures in P.R.C.

Contact Information:
Tel (China): +86-20-38880923
Fax (China): +86-20-22057863
Tel (USA): +1 (775) 901-0344

Sino Agro Food, Inc.
Room 3801, Block A, China Shine Plaza
No.9, LinHeXi Road, Tianhe District
Guangzhou, 510610, CHINA

Investor Relations:
Peter Grossman

Phone (USA): +1 (775) 901-0344

Erik Ahl, Investor Relations - Nordic Countries
Phone (Sweden): +46 (0) 760 495 885

Company Lawyer (USA): Sichenzia Ross Friedman Ference, LLP
61 Broadway, 32nd Floor
New York, New York 10006
Telephone: (212) 930-9700

Company Auditor: ECOVIS David Yeung Hong Kong
14/F San Toi Building
137-139 Connaught Road
Hong Kong
Hong Kong
Phone: +852 (258) 17 500
Fax: +852 (258) 17 588

Educative links:
The Company's 10-K filing for 2014 is the most up to date and complete description of Sino Agro Food available. It is available in several readable formats (MS Word, Acrobat PDF) on SIAF's SEC Filings page.
Here is the most recent Company Overview

Swedbank Norway analyst report.  January 29,2016
Report of independent analysts, Analyst Group of Stockholm - October 28, 2014.

Mr. Lee Yip Kun (Solomon Lee)
President, Executive Director, Chairman and Chief Executive Officer. A Pioneer of Modern Fishery Projects in the South Pacific Region, who has over 35 years experience in the Fishery Industry and Food Industry created various sizable projects in the Asian region. 
Citizen of Australia

Mr. Daniel Ritchey

Appointed Acting CFO on March 1, 2016. A member of the Company's Board of Directors, he has resigned his position on the Audit Committee while he serves as Acting CFO. As an advisor to the Company since 2007, Mr. Ritchey's strengths and focus have helped the Company to grow. Mr. Ritchey is currently a partner in three companies: DC Capital LLC, 3-D Oil and Gas LLC, and 3-D Ranch LLC, a 2,200 head of cattle/1,500 head pig farm for which Mr. Ritchey serves as Finance Director. Mr. Ritchey held previous positions as investment analyst and advisor for venture capital firms. He holds an MBA in Finance from Ohio State University.
Citizen of
the United States of America

Dr. Anthony C. Ostrowski 
Chief Scientific Officer. Dr. Ostrowski is an accomplished scientist with broad international background and experience in the field of aquaculture and process certification. He was principle investigator on multi-million dollar research projects, directed a multi-institution research consortium, and led the internationally recognized aquaculture research and development organization, Oceanic Institute, as president & CEO from 2009-2012. Most recently, he was General Manager & CEO of Wanshida Ocean Bio-Tech, LTD., a Chinese aquaculture research and development firm located in Yangjiang, PRC. He also served on several boards and technical committees within the aquaculture community providing both scientific and strategic direction that helped establish local and international standards for the field. Dr. Ostrowski will bring considerable experience towards implementing the Group’s product traceability and certification division with research development programs key to our competitive position in the seafood segment of the protein food industry. Dr. Ostrowski holds a Ph.D. and M.S. from Michigan State University, USA., and a B.S. from Penn State University, USA.
Citizen of the United States of America

Mr. Bertil Tiusanen
Senior Vice President of Business Development, New Ventures-Europe. Mr. Tiusanen joined the Company on May 1, 2015 as Group Chief Financial Officer (CFO) and Executive responsible for Business Development. On February 29, 2016, he transitioned to his current position. Mr. Tiusanen's career credentials include CFO positions at several multi-billion U.S. dollar companies inSweden, where he has spearheaded project financings, negotiated corporate wide bond issues and obtained dual exchange listings on Nasdaq US and Tokyo Stock Exchange. More recently, he has been an advisor to the Norwegian government.

Before joining SIAF, Mr. Tiusanen served as the President of Lånekassen in Norway (something like the Federal Student loan organization). Tiusanen was previously acting president and chief executive officer of Vattenfall AB, the largest public utility in northern Europe, with assets of more than $10 billion. He was executive vice president and CFO of KF Retail, Sweden's second-largest retailer. Also, Mr. Tiusanen was executive vice president and CFO at Pharmacia AB, was leading pharmaceuticals and biotechnology firm. Pharmacia is the first Swedish company to list on the NASDAQ and Tokyo stock exchanges. He used to be the CEO of Protegrity, U.S.-Based Information Security Company, and he has been the CEO of ECON, reputable research company in Norway, which oil companies and the government uses to make financial reports.
Citizen of Sweden

Ms. Olivia Lai, CPA

Chief Corporate Affairs Officer and Deputy CFO. Ms. Lai has over 20 years accounting and finance experience and held senior positions in many multi-national and public accounting and consulting firms. She is a U.S. and Hong Kong Certified Accountant with memberships in the American Institute of Certified Public Accountants, Charted Global Management Accountants, Hong Kong Institute of Certified Public Accountants, and the Taxation Institute of Hong Kong. She received her Bachelor of Science in Accounting with the Highest Distinction, and has an Executive Master of Business Administration from the Kellogg School of Management of Northwestern University in the U.S., and the University of Science and Technology in Hong Kong.
Citizen of Hong Kong

Mr. Tan Poay Teik (Peter Tan)
Executive Director and Chief Marketing Officer. Mr. Tan has 28 years of experience in the food Industry and has much practical experience in accounting, strategic planning, merger and joint venture matters and financial management having held directorship in several private limited and public listed companies.
Citizen of Malaysia

Mr. Chen Bor Hann (Michael Chen)
Manager of Fishery, Executive Director, and Company Secretary of SIAF. Mr. Chen has 13 years of experience in the Fishery Industry, one of the pioneers of CA and RAS Projects in Asia.
Citizen of Taiwan


Mr. Nils-Erik Sandberg

Member of the Board of Directors Mr. Sandberg, 75, has been President of the Jordan Fund, a Swedish investment group network since 1990. Mr. Sandberg also currently holds a position as an adviser for Gustavia Energy and Commodities Fund. Mr. Sandberg has previously founder and  CEO of several oil companies. 
Citizen of Sweden

Mr. Yap Koi Ming (George Yap)
Member of the Board of Directors Mr. Yap, 63, is a practicing international chartered accountant with over 30 years standing. Mr. Yap specializes in strategic business plans, registering listings on stock exchanges, international banking, financial management, risk management, financial reporting, auditing, financial management, investment management, and providing corporate finance solutions in terms of sourcing finance, as well as cornerstone investors in IPOs, Reverse Mergers, and Takeovers.
Citizen of Malaysia

Mr. Soh Lim Chang (Anthony Soh)
Member of the Board of Directors Mr. Soh is a partner in the law firm, Edwin Lim Suren & Soh, in Kuala Lumpur, Malaysia. Until October 31, 2013, Mr. Soh was Deputy Managing Director of Pontian United Plantations Berhad, a Malaysian plantation company in the business of cultivating oil palm on 39,000 acres of land on a group basis, and operating an oil mill. Appointed Director in 2005, Mr. Soh served as Executive Director from 2007 until promoted again in 2009. He holds an LL.B (Hons) degree from University of Hull, England. 
Citizen of Malaysia


Mr. Peter Rosta
On May 14, 2015, the company announced that Mr. Peter Rosta has accepted the position of Chairman of the Board of A Power Agriculture Development Co. Ltd. (Macau), also called "APWA (Macau)," the holding company of Qinghai Sanjiang A Power Co. ("SJAP"). Mr. Rosta has a wealth of experience and relationships in both Sweden and China, where he has resided for the past 20 years. He is a partner in Euro China Capital AB in Sweden, and Director of the Swedish Chamber of Commerce in China. He also serves as Director of several companies based in Europe and Asia, both private and public. Formerly, for five years, he served as Trade Commissioner and Head of the Swedish Trade Council in China and Hong Kong.
Citizen of Sweden

Euro China Capital AB  

Arctic Securities AS

Burnham Asset Management Corp

City National Rochdale LLC

Incentive AS

Swedbank Norway


Click on images to explore more information


Corporate Social Responsibility


SIAF Locations in China

Zhongshan Prawn Project

- The Press release
             Project is expected to span 20 years and targets producing up to 300,000 MT of live prawns per year
- The Contract
- FAQ and Project Plan Information
-Video Presentation
The Mega Farm

FY2014 Revenue by Business Segment

FY2014 Gross Profit by Business Segment







Sino Agro Food To Seek a Listing for Aquaculture Operations

Triway to Consolidate and Spin-Off Aquaculture Operations

Nov 11, 2015

GUANGZHOU, China, Nov. 11, 2015 /PRNewswire/ -- Sino Agro Food, Inc. (OTCQB: SIAF, also referred to herein as "SIAF" or the "Company") is an integrated, diversified agriculture technology and organic food company with principal operations as primary producer, processor, and marketer of protein foods in the People's Republic of China ("PRC").

Sino Agro Food, Inc.

The Company is pleased to announce it has begun the first of three or four planned divestitures, and is currently exploring various opportunities for a spin-off including a separate listing on the Oslo Stock Exchange ("OSE") for a new Aquaculture Company comprised of its aquaculture operations. Creating a separate entity is a decisive step towards SIAF's vision to become a leading aquaculture company. Seeking a listing on the OSE is in line with the OSE's position as the world's largest and certainly one of the most important financial marketplaces for the seafood sector. SIAF intends to distribute a majority of its holdings in the new company to its shareholders as a result of the spin-off.

For some time SIAF has sought a listing in the Nordic region to facilitate trading of its shares closer to its largest shareholder base. The Company's recent focus has been to achieve a senior listing of the whole SIAF Group on the OSE as soon as practicable, and this process has been in motion since May 2015.

Given today's announcement that the Aquaculture Company will be listed in Norway, and given that the work required for listing is greater than initially estimated, the listing of the group company on OSE listing will not occur during 2015.

CEO Commentary

CEO Solomon Lee commented: "The Company has received feedback from its current institutional investors and major retail shareholders, as well as advisors, that restructuring our businesses as stand alone organizations will create better understood and appreciated businesses bringing more value to our shareholders.

A separate listing of our aquaculture operations carries the additional advantage of facilitating a listing inNorway; a natural market for making our aquaculture opportunities known."

Proposed New Aquaculture Company

The proposed new company will have one single share class and conform to Nordic corporate governance standards. It is targeted to include the bulk of SIAF's aquaculture operations; namely:

Jiang Men City A Power Fishery Development Co., Ltd. (Fish Farm 1, "FF1")
Enping City Bi Tao A Power Prawn Culture Development Co., Ltd. (Prawn Farm 1, "PF1")
Zhongshan A Power Prawn Culture Farms Development Co., Ltd. (Prawn Farm 2, "PF2")
Zhongshan New Prawn Project ("ZSNPP") Phase 1 as well as an opportunity to acquire additional phases of the project as development continues. The ZSNPP is targeted to reach an annual production capacity of at least 200,000 metric tons over the long term.

In Q2 2015, the annual production of the Aquaculture segment was 5,331 metric tons of seafood and the trailing twelve-month revenue from sale of goods (seafood) was USD 96.0 million, with a gross profit of USD 27.9 million. By year-end 2016, when Phase 1 of ZSNPP is scheduled to be fully built the annual production capacity of the new company is expected to grow to approximately 15,000 metric tons. 


After consultation with financial advisors, major shareholders, and several prospective institutional investors, several important advantages for the proposed structure guided SIAF's decision. Establishing the new Aquaculture Company expedites several strategic objectives:

Simplify the structure of Sino Agro Food, Inc. by creating a rapidly growing, profitable Aquaculture Company focused on the production of seafood with unique expansion potential
Create a company establishing an independent Board of Directors, a shareholder nomination committee, a single share class, a separate management team and auditors, dedicated reporting and investor relations functions
Expose the company to institutional investors with in-depth knowledge and high appreciation of aquaculture businesses. The OSE has more than 15 listed companies in the seafood sector, with a combined market capitalization of more than NOK150bn. The sector trades at an average 2015 price/earnings multiple of 10.5x
Facilitate funding to increase ownership in existing aquaculture facilities
Create an independent company to secure funding for the future development of additional stages at the significant Zhongshan New Prawn Project.



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Current Price
Bid Ask Day's Range
SIAF News: Current Report Filing (8-k) 09/26/2016 06:08:25 AM
SIAF News: Amended Current Report Filing (8-k/a) 05/24/2016 04:36:12 PM
SIAF News: Statement of Changes in Beneficial Ownership (4) 05/18/2016 10:44:32 AM
SIAF News: Statement of Changes in Beneficial Ownership (4) 05/18/2016 10:42:53 AM
SIAF News: Statement of Changes in Beneficial Ownership (4) 05/18/2016 10:40:36 AM
#104616  Sticky Note If I would guess where the spinoffs will The Swede 06/05/16 06:02:25 AM
#103236  Sticky Note bellen 04/25/16 08:58:47 AM
#100824  Sticky Note EMAIL RESPONSE in regards to the AUDITOR CHANGE Traderfan 02/14/16 04:52:38 PM
#82114  Sticky Note Joe, ccsykes 02/12/15 05:25:25 PM
#66820  Sticky Note My SEC complaint against SIAF is officially filed ........ joenatural 06/23/14 02:59:59 PM
#106394   Well, siaf should be able to convert their Redbull84 10/26/16 10:12:42 AM
#106393   Red "siaf owns at least 20% of the snow 10/26/16 10:11:16 AM
#106392   DDB is starting to buy some shares, that's Redbull84 10/26/16 09:37:56 AM
#106391   I agree, it would be very interesting. Redbull84 10/26/16 08:49:13 AM
#106390   Okidoki, no worries, I got it from you challe08 10/26/16 08:43:08 AM
#106389   I think Petreus or someone else was the Redbull84 10/26/16 08:34:06 AM
#106388   We were at 0.45ish when ECAB-deal was PR'd challe08 10/26/16 08:29:27 AM
#106387   Hehe I realized that long time ago, unlike Andrew26 10/26/16 07:52:53 AM
#106386   The bid is just below 4 in Norway, Redbull84 10/26/16 07:42:20 AM
#106385   If only they had given guidance. Then the RealDutch 10/25/16 08:41:32 PM
#106384   You may have not realized it yet, but modes948 10/25/16 02:22:34 PM
#106383 Yep definitely time to bri Redbull84 10/25/16 01:52:53 PM
#106382   Mgt. thinks share price is over valued, why King Josiah 10/25/16 10:57:33 AM
#106381   Bravo, Yap and team, keep taking your time emptyone 10/25/16 10:44:41 AM
#106380   Why didnt the stock market in USA in Andrew26 10/25/16 07:41:19 AM
#106379   So why are some.companies doing it?XIN both dividends modes948 10/25/16 05:38:02 AM
#106378   Guys get real. Real how things look in Andrew26 10/25/16 04:42:51 AM
#106377   Agree, if siaf goes below $4 they should Redbull84 10/24/16 07:21:41 PM
#106376   Almost everybody here says a share buyback or modes948 10/24/16 05:36:38 PM
#106375   Dito empty IKEA 10/24/16 04:02:47 PM
#106374   Great time to step up here managment, oh emptyone 10/24/16 03:43:40 PM
#106373   It's at least nice to be a Swedish challe08 10/24/16 11:06:40 AM
#106372   The ask on merkur was 4.23 with around Redbull84 10/24/16 10:46:08 AM
#106371   Yeah, the NON seller that have dumped ~25-30K challe08 10/24/16 10:14:57 AM
#106370   It's cheaper on merkur then on otc for once.. Redbull84 10/24/16 10:03:43 AM
#106369   WoW, down 17% today at Merkur on rather challe08 10/24/16 08:40:36 AM
#106368   Big success for shareholders. modes948 10/24/16 07:13:24 AM
#106367   Hey Mr. Yap, maybe you take time from emptyone 10/23/16 07:08:11 PM
#106366   "JF closed because of travel Oct 17-22" Emilez 10/23/16 02:54:37 PM
#106365   SIAF mentioned as a success story Emilez 10/23/16 02:51:33 PM
#106364   It's deboned beef so no sjap will have hugeholstein 10/22/16 08:13:43 PM
#106363   Well if the US wants a Chinese Partner emptyone 10/22/16 05:36:44 PM
#106362   If no loan than Plan B goes into King Josiah 10/22/16 04:22:10 PM
#106361   Cattle prices are not competitive. Twice as expensive Emilez 10/22/16 01:45:21 PM
#106360   Its nice that things are falling in place Andrew26 10/22/16 05:33:20 AM
#106359   Before speculating about the US export I think Handlamera 10/22/16 03:12:50 AM
#106358   I suspect that the Chinese population will King Josiah 10/21/16 05:53:29 PM
#106357   I agree. I suspect that the Chinese iolaplt 10/21/16 05:36:51 PM
#106356   I don't think so. RealDutch 10/21/16 12:07:12 PM
#106355   Knowing how everything has to go through Solomon's NewJerichoMan 10/21/16 12:05:39 PM
#106354   I am dubious. NewJerichoMan 10/21/16 12:04:40 PM
#106353   I think it's a combination. They are not RealDutch 10/21/16 11:59:49 AM
#106352   Since SJAP already has started to shift to Emilez 10/21/16 11:47:39 AM
#106351   New If you are right where can SIAF snow 10/21/16 11:17:04 AM
#106350   It will be interesting to see what happens morning_luke 10/21/16 10:36:56 AM
#106349   Who is getting the loan? It's the NewJerichoMan 10/21/16 10:34:48 AM
#106348   Oh for fook's sake! Really? NewJerichoMan 10/21/16 10:30:23 AM
#106347   Just annoying that we act as a bank Andrew26 10/21/16 06:25:14 AM
#106346   Weak bid side in Oslo shortly after the opening snow 10/21/16 03:08:22 AM
#106345   This is so depressing, so dead... Orreborren 10/21/16 01:39:46 AM