Sino Agro Food Inc (fka SIAF)

[RealDutch]

I have some more numbers I can share.

CA consulting revenue (million $)

 
 2016   71 
 2015   87 
 2014   75 
  
 Total 233

Which confirms my suspicion that between 170 and 200 was for the MegaFarm. So far. The rest went to PF1 + PF2.

---

 
            Advanced to     Advanced to      CA consulting revenue 
             suppliers       developers 
  
 Q1 17          13.7           10.8                13.2 
 Q4 16           9.4            7.5                15.3 
 Q3 16          13.3           28.0                23.4 
 Q2 16          14.0           28.0                19.3 
 Q1 16           9.6           28.0                13.1 
 Q4 15           8.0           28.0                23.1 
 Q3 15           7.4           28.0                28.6 
 Q2 15           7.7           28.0                 8.8 
 Q1 15          11.3           28.0                26.1

I can't detect a correlation between the 1st and the 3rd column. And the 2nd column doesn't tell me much (except that they did the carve-out in Q4).

What we can conclude I think, is that between $50M and $70M of pre-IPO money should suffice to triple the rate of construction. Three buildings per year instead of one. But they want to do this even faster.

And consultancy revenue will not go up by much, if three buildings cost $60M going forward. There will also be less work done for the other fish farms.

So I didn't learn much today