Funds will also be used to construct a R&D centre and to supplement working capital
Noposion has announced it plans to raise more than Rmb1.45bn (US$205mn) through a share issuance for the expansion of its Yunnan blueberry base. The funds will also be used to construct a small berry R&D centre and to supplement working capital, strengthening its modern specialty fresh food consumption business.
Noposion is a leading enterprise in China’s pesticide formulation industry. However, in 2021 the company expanded its operations to include blueberry cultivation.
The company has said it will invest Rmb1.22bn (US$173mn), in the expansion project, of which Rmb1.1bn (US$156mn) will come from the raised funds. The funds will be mainly used for land transfer, farm facility construction, and seedling planting. As part of the project, Noposion also intends to establish a new blueberry plantation in Yunnan province, adding approximately 900ha hectares of new planting area over two years.
The company will also use Rmb150mn of the raised funds for the construction of the Small Berry International R&D Center, with a total investment of Rmb274mn and a construction period of three years. The project will focus on the research and development of new berry varieties and the construction of a three-level scientific research laboratory system. Another Rmb200mn will be used to supplement working capital and optimise the company’s financial structure.
After the completion of this fundraising project, the company will further expand its blueberry planting scale, enhance its supply capacity of high-quality winter and spring blueberries, and strengthen its R&D capabilities in the field of small berries.
Since 2021, Noposion has invested over Rmb4bn in the blueberry industry, completing the construction of more than 60 farms and over 40 cold chain processing centres, distributed across more than ten cities and prefectures in Yunnan Province, including Honghe, Wenshan, Chuxiong, Pu’er, Baoshan, Dehong, Dali, and Xishuangbanna. It has since developed into a world-leading single-substrate blueberry industry cluster.
In the 2024/25 season, the sales revenue of its blueberry products exceeded Rmb2bn, making it one of the top blueberry sellers in China. The company has achieved increased production and profitability in blueberries for four consecutive seasons, forming a second growth curve for revenue and significantly improving the company’s performance.
According to industry data, the total national blueberry production in 2024 was 780,000 tonnes, and the demand in 2025 is expected to exceed 1mn tonnes, with a market size of about Rmb50bn.
