At its annual work meeting, Zhejiang Ocean Family (also known as Yang Shi Jia) announced revenue in 2016 hit an all-time high of CNY 2.65 billion (USD 385 million, EUR 365 million) with foreign currency earnings from exports of USD 205 million (EUR 195 million), up 28.43 percent and 3.89 percent respectively year-on-year. Gross profits and net profits were up 19.2 percent and 21.6 percent, respectively, on 2015.
The impressive total suggests the firm is one of China’s most profitable seafood firms, especially given the fact that in the past several year, numerous large Chinese fishing firms and processors in particular have struggled with debt and low profitability.
Formerly a processor and canner of seafood, Ocean Family has in the past decade sought to realign itself to focus on seafood distribution. It now operates 10 of its Shi Ji Da Hui brand seafood stores and a series of 25 seafood counters in major supermarkets around China , offering a large assortment of sashimi and sushi in both. The firm has also sought to develop relationships with convenience stores in major Chinese cities.
