Guangdong Hengxing Group

What Guangdong Hengxing Group does

Guangdong Hengxing Group (广东恒兴集团) is a privately held Chinese agribusiness conglomerate founded in 1991 and headquartered in Zhanjiang, Guangdong. The company operates a fully vertically integrated aquaculture value chain spanning eight business segments: seedling breeding (种苗繁育), feed production and sales (饲料产销), animal healthcare products (动物保健), aquaculture operations (水产养殖), aquatic food processing (食品加工), smart fishery management systems (智慧渔业), an aquatic product trading platform (全联集采), and international business. It holds 80+ subsidiaries, 12,000+ employees, and reports an annual output value of 21 billion CNY (~$2.9B USD). The company serves 40,000+ aquaculture farmers domestically, chain restaurants and food distribution platforms in the foodservice vertical, individual consumers through D2C e-commerce (WeChat, JD, Tmall, Douyin, Pinduoduo), and operates overseas manufacturing and project delivery in Vietnam, Indonesia, Malaysia, India, and Egypt — including the landmark Egypt National Fishery Industrial Park project.

The company's core technology platform is anchored by proprietary breeding IP developed over multi-year R&D programs with leading Chinese academic institutions. Its Zhongxing No. 1 (中兴1号) Pacific white shrimp variety, co-developed with Sun Yat-sen University, was China's first nationally certified disease-resistant shrimp variety and broke foreign broodstock dependency; Zhongxing No. 2 (中兴2号) added anti-Vibrio capabilities; and Zhongheng No. 1 (中恒1号) is a proprietary red tilapia variety. The Group holds 18 consecutive years of national leadership in specialty aquatic feed sales, with 26 feed factories delivering 3.1 million tons of annual capacity and commanding 50% market share in grouper and golden snapper feed. It has built 1,350 technical personnel across 19 national and provincial R&D platforms and has cumulatively invested 1.8 billion RMB in R&D.

Hengxing's business model combines one-time product sales (feed, seedlings, processed foods), transactional revenues from its Quanlian Jicai aquatic product trading platform (260 billion yuan cumulative 6-year transaction volume), and recurring SaaS revenue from the U-Fish smart fishery management system. GTM is sales-led B2B with regional offices across China, supplemented by D2C e-commerce for consumer brands (恒兴, 恒兴恒, 恒兴渔港, 侃大海, 渔恒鲜). The company has repositioned strategically in 2017 toward becoming a 'food enterprise' focused on prepared dishes (预制菜) for the restaurant and foodservice trade.

Name

Guangdong Hengxing Group

Legal name

Guangdong Hengxing Group Co., Ltd. (广东恒兴集团有限公司)

Website

https://hx888.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

Guangdong Hengxing Group is a privately held Chinese agribusiness conglomerate operating a fully vertically integrated aquaculture value chain from proprietary seedling breeding through feed production, aquaculture operations, food processing, smart fishery SaaS, and a digital trading platform, serving 40,000+ farmers, chain restaurants, and consumers across China and 5 overseas countries.

Ownership category

akta.pro rank

Product category

Aquaculture and Aquatic Food Production

NAICS

Finfish Farming and Fish Hatcheries (112511), Aquaculture (1125), Seafood Product Preparation and Packaging (31171)

SIC

Prepared Fresh Or Frozen Fish & Seafoods (2092), Agricultural Prod-Livestock & Animal Specialties (200), Canned, Frozen & Preservd Fruit, Veg & Food Specialties (2030)

akta.pro primary industry

Finfish Farming (e.g., salmon, tilapia, catfish) (AFAEAAAA)

akta.pro secondary industries

Finfish Feed (Salmonids, Trout, Sea Bass/Bream, Tilapia, Catfish) (AFADADAA), Aquaculture Processing & On-Farm Value-Add (primary handling, icing, packing) (AFAEAAAN), Tilapia & Warmwater Fish Hatcheries (e.g., Catfish, Carp) (AFAEAKAE), Aquaculture Harvest, Processing & Packing (Farmed Finfish/Shellfish; On-Farm Plants) (AFANADAL)

Keywords

• Aquatic feed production
• Shrimp seedling breeding
• Aquaculture operations
• Prepared seafood dishes
• Smart fishery systems

Headquarters

HQ city

Zhanjiang

HQ country

China

HQ region

Asia

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Aquatic Feed Production and Sales: Production and sale of aquatic feed (shrimp, fish, and specialty aquatic feeds) and livestock feed. 26 factories with 3.1 million ton annual capacity. Core business generating approximately 80 billion yuan in output value.
2. Seedling Breeding and Sales: Production and sale of aquatic seedlings including Pacific white shrimp, red claw crayfish, grouper, pompano, cobia, and other species. 30 seedling farms with 20 billion seedlings annual capacity.
3. Aquaculture Operations: Self-operated aquaculture farms raising aquatic products including Pacific white shrimp, golden snapper, grouper, black fish, tilapia, and other species. 200,000+ mu of demonstration farms.
4. Aquatic Food Processing and Prepared Dishes: Processing and sale of aquatic food products and prepared dishes (200+ varieties) including ready-to-cook, ready-to-eat products. 6 processing factories with 200,000 ton annual processing capacity. Products sold to chain restaurants, food distribution platforms, and consumers.
5. Animal Health Products: Production and sale of microecological preparations, functional feeds, aquatic veterinary drugs, and environmental improvement agents for aquaculture disease prevention and water quality management.
6. Smart Fishery System Services: U Fish smart fishery management system providing digital monitoring and management services for aquaculture operations. Over 20,000 registered users and 5,000+ scale farms.
7. Aquatic Product Trading Platform: Quanlian Jicai aquatic product trading platform providing international trade, processing, warehousing, logistics, and sales services. Total transaction volume exceeding 260 billion yuan over 6 years.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Guangdong Hengxing Group operates a fully integrated aquatic food industry chain from seedling breeding to consumer products. The company produces disease-resistant shrimp and fish seedlings, manufactures specialty aquatic feed through 26 factories with 3.1 million ton capacity, runs self-operated aquaculture farms, processes frozen aquatic products and over 200 prepared dish SKUs, and provides the U Fish smart fishery management system along with the Quanlian Jicai trading platform for industry supply chain integration.

Product overview

Guangdong Hengxing Group is an integrated aquaculture and aquatic food company operating a complete industrial chain from seedling breeding to finished food products. The core offerings include: (1) 种苗繁育 - Seedling breeding for shrimp and fish species including the proprietary '中兴1号' white shrimp breed; (2) 饲料产销 - Feed production and sales with 26 factories and 310万吨 capacity; (3) 动物保健 - Animal healthcare products including probiotics; (4) 水产养殖 - Aquaculture operations across 20万亩 of farming area; (5) 食品加工 - Food processing with 6 plants processing 20万吨 annually; (6) U渔系统 - Proprietary smart fishery management system with real-time monitoring capabilities; (7) 全联集采平台 - Digital trading platform with supply chain finance; (8) International projects including Egypt National Fishery Industrial Park. Consumer brands include 恒兴食品, 恒兴恒, 恒兴渔港, 侃大海, and 渔恒鲜 offering frozen aquatic products and ready-to-cook (4R) meals. The company has developed 200+ ready-to-cook products and exports to 40+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• 恒兴恒 (Hengxing Heng): Cost-effective frozen aquatic products and ready-to-cook prepared food brand targeting wholesalers, distributors, and catering supply chains.
• 恒兴渔港 (Hengxing Yukong)
• 侃大海 (Kan Dahai)
• 渔恒鲜 (Yuhengxian)

Products and services

• Seedling Breeding (种苗繁育)

Quantifiable outcome

• Zhongxing No. 1 shrimp shows 47.22% improvement in disease resistance evaluation index and approximately 20% improvement in survival rate
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

18 partnerships are on record, tiered core, major and minor.

• 湛江湾实验室 (Zhanjiang Bay Laboratory)coreStrategic or Co-development Partner · 1 January 2023Innovation consortium established to promote modern ocean ranching full industry chain development, building deep-sea aquaculture platforms including 'Zhanjiang Bay 1号', 'Haita 1号', and 'Hengyi 1号'.
• 中国海洋大学 (Ocean University of China)majorStrategic or Co-development Partner · 1 January 2023Industry-academia-research cooperation in technology development and talent training.
• 中国农业大学 (China Agricultural University)majorStrategic or Co-development Partner · 1 January 2023Industry-academia-research cooperation in technology development and talent training.
• 广东海洋大学 (Guangdong Ocean University)majorStrategic or Co-development Partner · 1 January 2023Industry-academia-research cooperation in technology development and talent training.
• 中国海大 (Ocean University of China)majorStrategic or Co-development Partner · 1 January 2023Strategic cooperation with 5+ universities and professional institutions for food R&D, taste research, quality improvement, and automated equipment upgrading.
• 华南理工大学 (South China University of Technology)majorStrategic or Co-development Partner · 1 January 2023Food R&D and technology cooperation.
• 厦门集美大学 (Jimei University)majorStrategic or Co-development Partner · 1 January 2023Food R&D and technology cooperation.
• 广州仲恺学院 (Guangzhou Zhongkai University of Agriculture and Engineering)minorStrategic or Co-development Partner · 1 January 2023Food R&D and technology cooperation.
• 广东省农科院食品加工研究所 (Guangdong Academy of Agricultural Sciences Food Processing Research Institute)majorStrategic or Co-development Partner · 1 January 2023Food processing technology research and development cooperation.
• 广东省现代健康产业研究院 (Guangdong Modern Health Industry Research Institute)minorStrategic or Co-development Partner · 1 January 2023Health food product research and development cooperation.
• 麦康森院士、李德发院士、林浩然院士、刘少军院士等专家委员会coreStrategic or Co-development Partner · 1 January 2023Expert committee composed of academicians providing strategic R&D guidance for the company.
• 澳大利亚ACH公司 (Australia ACH Company)majorStrategic or Co-development Partner · 1 January 2023Cooperation in 2016 for red claw crayfish (Australian freshwater lobster) introduction and breeding technology development.
• 中国水产科学研究院淡水渔业研究中心 (China Academy of Fishery Sciences Freshwater Fisheries Research Center)coreStrategic or Co-development Partner · 1 January 2022Joint development of red tilapia Zhongheng No. 1 variety with Nanjing Agricultural University Wuxi Fisheries College.
• 南京农业大学无锡渔业学院 (Nanjing Agricultural University Wuxi Fisheries College)coreStrategic or Co-development Partner · 1 January 2022Joint development of red tilapia Zhongheng No. 1 variety with freshwater fisheries research center.
• 山东邦普种业科技有限公司 (Shandong Bangpu Seed Industry Technology Co., Ltd.)coreStrategic or Co-development Partner · 1 January 2017Joint breeding platform established with industry leaders and Yellow Sea Fisheries Research Institute, Chinese Academy of Fishery Sciences. Built shrimp germplasm gene bank and joint breeding platform, developing 3 new strains and 2000+ families.
• 中国水产科学院黄海研究所 (Yellow Sea Fisheries Research Institute, CAFS)coreStrategic or Co-development Partner · 1 January 2017Strategic cooperation in shrimp breeding and red claw crayfish breeding technology development.
• 埃及政府 (Egyptian Government)coreStrategic or Co-development Partner · 1 January 2015Signed contract to help Egypt build national fishery industrial park. Project covers 30,000 mu with 11 sub-projects over 18 months. Complete output of Chinese fishery industry chain technology and standards.
• 中山大学 (Sun Yat-sen University)coreStrategic or Co-development Partner · 1 January 2002Joint development of disease-resistant shrimp varieties including Zhongxing No. 1 (2011) and Zhongxing No. 2. Technical guidance from Professor He Jianguo, Chief Scientist of National Shrimp and Crab Industry Technology System. Long-term breeding technology collaboration.

Scale indicators21 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Guangdong Haid Group: China's largest aquaculture feed producer and major aquatic animal genetics and farming operator. Directly competes with Hengxing across feed, seedling, and aquaculture segments, with broader scale and public market access.
• Tongwei Co., Ltd. Leading Chinese integrated aquaculture and solar company with major aquatic feed production and aquaculture farming operations. Overlaps significantly with Hengxing in feed and aquaculture, and is a comparable publicly listed alternative.
• Zoneco Group: China-listed marine aquaculture company specializing in sea cucumber, scallop, and premium seafood products. Comparable in marine aquaculture operations and prepared seafood ambitions, though smaller and more geographically focused.
• Baiyang Industrial Group: Chinese integrated aquatic feed and aquaculture company with operations spanning feed production, fish farming, and seafood processing. Closely comparable mid-tier peer within the same industry chain.
• Shandong Oriental Ocean Sci-Tech: Chinese listed aquaculture company with deep-sea cage farming, aquatic seed breeding, and seafood processing operations. Comparable in marine aquaculture technology and prepared seafood category.
• Dahu Aquaculture: Chinese freshwater aquaculture and aquatic products company listed on the Shanghai exchange. Comparable in integrated freshwater fish farming and prepared aquatic foods, though with narrower geographic focus.

Broad incumbents

• New Hope Liuhe: One of China's largest agricultural conglomerates spanning feed (including aquatic), livestock, and food processing. Comparable in integrated model and feed market presence, though broader in protein categories including poultry and pork.
• Charoen Pokphand Foods (CPF): Thai-headquartered global integrated aquaculture and food conglomerate operating across feed, farming, and processed seafood in China and globally. Highly comparable to Hengxing in integrated value chain, with greater international scale and brand recognition.
• Mowi ASA: World's largest Atlantic salmon farmer and a global benchmark in integrated aquaculture genetics, feed, farming, and processed seafood. Comparable end-to-end value chain model and genetics IP strategy, though in salmonids rather than warmwater species.

Emerging players

• AquaBounty Technologies: US-listed aquaculture genetics company focused on genetically improved salmon and tilapia. Comparable in the aquaculture genetics IP and licensing business model Hengxing is building with Zhongxing shrimp varieties, though at earlier commercial scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries20 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Guangdong Hengxing Group