Food company Guangnan (Holdings) is planning two or three acquisitions in the second half of this year, including a food sales agent in Hong Kong, sources say.
An analyst at a European brokerage firm said the red chip was studying several acquisition targets, and looked set to take action in the third quarter.
He said projects under negotiation were food related.
A source close to the company said Guangnan was targeting projects outside Guangdong province, including in Hong Kong.
He said the targets include a food product sales agent in Hong Kong and a food processing factory on the mainland.
Guangnan managing director James Huang Xiaojiang said the company would continue to expand into food related businesses and confirmed acquisition negotiations were going on but gave no details.
