CXKJ(.155)...Yananju Group is possible acquisition target......
In addition to Boster Group, it looks like CXKJ is very much interested in acquiring Yananju Group. CXKJ management toured the Yananju facilities on October 7. That company is well-established in the edible birds nest industry (EBN), and the CEO seems to be well-respected in the industry.
I am not sure what kind of revenue they generate, but like Boster the operations/facilities look sizable and impressive from what I have seen. The $100-150M industrial park that Yananju jointly built a couple/several years ago apparently has a 250-ton capacity for processing EBN. From what I remember while reading a recent article about the company, the park should be fully functional by now and 2022 is the first year when processing activity has started to really ramp up. Through the first 7 months around 19 tons of material had been processed. The company is already looking to expand its processing/sourcing capabilities. In early August, Yananju entered into a cooperation agreement to build large-scale processing infrastructure in Cambodia for export of EBN to China.
Kind of worth noting: One of Yananju's larger competitors in China (Yanzhiwu Biological Engineering) had filed for an over $140M IPO in China back in December. That IPO application was withdrawn recently. According to its IPO filings that company generated over $180M in revenue during 2021 and was operating at 90% capacity.
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