Red chip Guangnan Holdings said lost income following the ban on poultry imports from the mainland would not badly hurt profitability. Managing director James Huang Xiaojiang said mainland poultry suppliers would suffer most, but the impact on Guangnan would be minimal. 'We are losing between $50,000 and $80,000 in gross profits a day because of the ban. 'However, the actual impact will be smaller than that figure because more profits will be generated from an increase in imports of other fresh food from the mainland,' he said. The company is the largest poultry importer in Hong Kong, supplying about 85 per cent of live chickens before the ban. It is also a big importer of fresh daily products. Mr Huang said Guangnan was looking for new acquisitions after the market slump to enlarge its recurrent income basis. He said the company had sufficient cash on hand and it was a good time to look for quality targets. Guangnan launched a road show in the US last month and it plans to go to Europe after the Lunar New Year. Mr Huang said Guangnan's parent company, Guangdong Enterprises Holdings, had boosted its stake in the firm by buying shares in the market.