--- title: "Ranked first in global sales for 11 consecutive years, Qiandao Lake Sturgeon Technology (06715.HK) sprints towards a Hong Kong listing" type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/42086365.md" description: "$XUNLONG SCITECH(06715.HK) (branded as "KALUGA QUEEN") is the world's largest caviar enterprise. Since its establishment in 2003, the company has successfully built a complete industrial chain covering sturgeon breeding and farming, caviar processing, sales, and brand marketing. Its flagship brand "KALUGA QUEEN" enjoys an extremely high reputation in the global market. It is not only the exclusive supplier for first-class cabins of international airlines such as Lufthansa, Singapore Airlines, and Cathay Pacific but also widely enters top global dining venues and Michelin-starred restaurants..." datetime: "2026-06-23T04:03:27.000Z" locales: - [en](https://longbridge.com/en/topics/42086365.md) - [zh-CN](https://longbridge.com/zh-CN/topics/42086365.md) - [zh-HK](https://longbridge.com/zh-HK/topics/42086365.md) author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)" --- # Ranked first in global sales for 11 consecutive years, Qiandao Lake Sturgeon Technology (06715.HK) sprints towards a Hong Kong listing $XUNLONG SCITECH(06715.HK) (branded as "KALUGA QUEEN") is the world's largest caviar enterprise. Since its establishment in 2003, the company has successfully built a complete industrial chain covering sturgeon breeding and farming, caviar processing, sales, and brand marketing. Its flagship brand "KALUGA QUEEN" enjoys an extremely high reputation in the global market. Not only is it the exclusive supplier for first-class cabins of international airlines such as Lufthansa, Singapore Airlines, and Cathay Pacific, but it is also widely present in top-tier dining venues and Michelin-starred restaurants worldwide. Its products are exported to 46 countries and regions across Europe, the Americas, and the Asia-Pacific. According to CIC data, KALUGA QUEEN has achieved the world's top caviar sales for 11 consecutive years since 2015 and maintained over 30% of the global caviar market share from 2021 to 2025. The company's performance growth is primarily attributed to its strong R&D capabilities and unique resource advantages. The maturation cycle of sturgeon typically takes seven to fifteen years. KALUGA QUEEN possesses the world's largest and most diverse sturgeon resource pool, establishing a complete and balanced age structure, giving it an unparalleled first-mover advantage in the industry. Technologically, the company pioneered artificial sturgeon propagation and selective breeding in China, mastering core technologies such as early sex identification, molecular genetic breeding, scientific ecological farming, and standardized processing. It successfully increased the average roe-bearing rate of sturgeon from the traditional 8% to 17% and maintained an annual survival rate above 97%. Furthermore, the recovery of the domestic and international fine dining market, coupled with the company's promotion of innovative consumption scenarios targeting young consumers (such as caviar ice cream, chocolate, etc.), continues to expand its consumer and brand boundaries. In terms of financial performance, the company demonstrates industry-leading profitability and strong growth. In 2025, its operating revenue reached RMB 769 million, with a compound annual growth rate (CAGR) of 15.4% from 2023 to 2025. Its adjusted net profit in 2025 reached RMB 401 million, with a CAGR of approximately 13.2%. Notably, the company maintains highly stable profit margins, with its net profit margin consistently above 47%, reflecting the advantages of excellent cost control and a high-premium brand positioning. The company has attracted numerous top-tier domestic and international institutions as cornerstone investors. These investors include global asset management giant BlackRock, large insurance and financial services group Taikang Life Insurance, renowned asset management firms Shanghai Greenwoods and Mirae Asset Securities, among others. Collectively, they subscribed for up to 49.88% of the public offering shares. This IPO does not have a mandatory clawback mechanism. The maximum number of shares that can be reallocated to the Hong Kong public offering shall not exceed 15% of the total number of shares in the global offering. Source: KGI Securities ### Related Stocks - [06715.HK](https://longbridge.com/en/quote/06715.HK.md) - [C6L.SG](https://longbridge.com/en/quote/C6L.SG.md) - [DLAKY.US](https://longbridge.com/en/quote/DLAKY.US.md) - [00293.HK](https://longbridge.com/en/quote/00293.HK.md)