Hangzhou Qiandaohu Xunlong Sci-Tech Co., Ltd. (Ticker: 6715 HK) is a China-domiciled agricultural and food company focused on sturgeon aquaculture and caviar production. The company operates an integrated value chain covering sturgeon breeding and farming, caviar processing, and sales and marketing. Its main product is caviar, sold under the KALUGA QUEEN brand, with customers including overseas caviar houses, fine food companies, restaurants, hotels and supermarkets.

Hangzhou Qiandaohu Xunlong Sci-Tech is expected to list H shares on the Hong Kong Stock Exchange on June 30, 2026. The company priced 16.33 million shares at HKD 75.50 per share, raising approximately HKD 1.23 billion, or approximately $157 million. The offering consists entirely of primary shares and includes a 15% greenshoe option. The company’s market capitalization at offer is approximately HKD 8.22 billion, or around $1.05 billion.

According to sources, the company ranked first in the global caviar market by sales volume for 11 consecutive years since 2015, with a 36.1% global market share in 2025. Joint managers include CITIC Securities, China Industrial Securities International, China Securities International and Huafu International Securities.