FINWIRES · TerminalLIVE
FINWIRES

COFCO Joycome, Parent Launch Hog Breeding, AI Research Projects

By

COFCO Joycome Foods (HKG:1610) entered into two technology development contracts with parent company COFCO and its subsidiaries to conduct research on hog breeding and AI breeding technologies, according to a Wednesday Hong Kong bourse filing.

Under the agreements, COFCO and its group subsidiaries, Wuhan COFCO Meat Product and COFCO Joycome (Jilin), will jointly undertake the projects.

The hog breeding technology project has a budget of 33.5 million yuan, while the AI breeding application technology project will receive 14.3 million yuan.

Both projects are scheduled to run through December 2027, the filing said.

Related Articles

Asia

AcroMeta's Subscription Deal Collapses as Investor Fails Payment; Shares Up 6%

AcroMeta's (SGX:43F) deal to raise SG$1 million through the subscription of 16.7 million shares with a subscriber named Elisabet, collapsed after the investor failed to make the payment by the deadline, according to a Tuesday bourse filing.Shares of the engineering services company were up nearly 6% in Wednesday trading.The subscriber was expected to remit the amount by May 31. The company is now seeking legal advice over the matter following the breach of the agreement.

SGX:43F
Asia

GrainCorp's Through-The-Cycle Earnings Power Under Doubt Even as Fiscal 2027 EBITDA Estimate Unchanged, Jarden Says

GrainCorp's (ASX:GNC) fiscal 2027 earnings before interest, taxes, depreciation, and amortization (EBITDA) estimate was almost unchanged at around AU$217 million, but there is more skepticism than consensus on the firm's through-the-cycle earnings power, with the fiscal 2028 EBITDA estimate 16% and net profit after tax estimate 39% below consensus, Jarden said in a note on Tuesday.The Australian Bureau of Agricultural and Resource Economics and Sciences' (ABARES) first fiscal 2027 crop estimate east coast winter crop of 23.8 million metric tons is in line with expectations and consistent with an average crop size. If the El Niño phenomenon develops over June and July, creating soft levels of rainfall, then for fiscal 2027 there are downside risks to ABARES' forecast.The canola crop forecast is relevant for GrainCorp's nutrition and energy segment, with Jarden estimating it to account for 48% of the fiscal 2027 EBITDA estimate. ABARES' fiscal 2027 east coast canola crop estimate of 2.2 million metric tons is well below the fiscal 2021 to fiscal 2026 period but is impacted by a weak New South Wales forecast.The investment firm retained its neutral rating and AU$5.40 price target on GrainCorp.GrainCorp's shares gained about 2% in recent Wednesday trade.

ASX:GNC
Asia

Sichuan Road & Bridge Exits Private Equity Fund with Early Lump-Sum Payout

Sichuan Road & Bridge (SHA:600039) subsidiary Road & Bridge Group exited a 111.2-million-yuan private equity fund investment tied to a highway project in Guangxi, China.The fund shares were transferred to Guangxi Jiaosheng, with proceeds collected early as a lump sum of 98.3 million yuan, according to a Tuesday filing with the Shanghai bourse.Shares of the construction company were down 3% in recent trade.

SHA:600039