Business & Finance
Hong Kong stock market regulators appear to have halted planned listings by mainland China seafood firms due to awkward questions raised over paperwork relating to a previous, unsuccessful, listing.
The Securities and Futures Commission in Hong Kong has asked underwriter CCB International Holdings Ltd – a division of Construction Bank of China, one of China’s big four state owned banks – to further explain its… Read More
Shares in Baiyang Industrial Investment Group, China’s leading tilapia exporter, have remained suspended for over a month now as the firm promises news on a major “restructuring.”
Baiyang suspended trading in its shares on the Shenzhen Stock Exchange last month, citing a “major asset restructuring.” Weekly updates have been published with the latest declaring “on-site investigation of the subject transaction has been completed”… Read More
The Zhanjiang Guolian Aquatic Group is set for a net profit of CNY 500 million (USD 72.8 million, EUR 68.8 million) in 2018, compared to CNY 100 million (USD 4.6 million, EUR 13.8 million) in 2016 and CNY 210 million (USD 30.6 million, EUR 28.9 million) in 2017. That’s according to the projections of Zhao Shang Securities in Shanghai, which has published a bullish research note on the firm.
Guolian’s integrated business model and the… Read More
High Liner Foods reported higher net earnings despite lower sales volumes in its fourth quarter and year-end financial report for 2016.
High Liner President and CEO Keith Decker said in the earnings call that the improvement in net earnings reflected the impact of lower raw material prices and a continuing effort by the company to optimize its supply chain, along with lower finance costs as a result of using strong free cash flow in 2016 to… Read More
Norway-headquartered salmon farmer Marine Harvest achieved operational earnings before interest and taxes (EBIT) of EUR 259 million (USD 273.3 million) in the fourth-quarter of last year, up from EUR 90 million (USD 95 million) in the corresponding period of 2015.
“Driven by high salmon prices on strong demand and reduced supply, we achieved record high operational results in the fourth quarter. It is very encouraging to see strong… Read More
Creditors of Europaco, a subsidiary of troubled Pacific Andes International Holdings, have won a court decision in the British Virgin Islands to have the company liquidated. The move comes on the heels of a decision made recently by another court in the BVIs to appoint liquidators for three other subsidiaries of China Fishery Group, which owns Pacific Andes.
Seattle, Washington, U.S.A.-based Glacier Fish Company and Malayan Banking Berhad… Read More
A Chinese producer of seafood and aqua-feed has had a bumper start to trading after getting listed on the Shanghai Stock Exchange.
One of the world’s leading producers and exporters of eel, Fujian Tianma Science & Technology Co. saw its share price jump 44 percent on the first day of trading recently. The firm is planning to expand into high-end feed for mariculture, including fish types such as bass, turbot and croaker. This is in… Read More
AquaBounty, which pioneered a faster-growing, genetically engineered salmon, has completed a reverse stock split in anticipation of its listing on the NASDAQ stock exchange.
The Massachusetts, U.S.A.-based company first announced a conversion of its shares in December in order to comply with NASDAQ listing requirements. The 1-for-30 reverse share split of its common shares was completed on 5 January, leaving the company with 6,463,935 common… Read More
Shifting consumer preferences resulted in a mixed third-quarter report for Canadian seafood company High Liner Foods.
While its overall profit was up, sales for both the quarter and the year were down for High Liner, as the North American seafood-eating public moves away from breaded and battered frozen seafood and toward more premium products and unprocessed items, according to High Liner CEO Keith Decker, who spoke during the company’s… Read More
Nova Scotia, Canada-based Riverside Lobster International has been acquired by Quebec, Canada-based private equity group Champlain Financial Corporation, the owner of Cheticamp Fisheries.
Ascendiant Capital Markets - Riverside’s previous owner – announced the deal earlier this week. A distributor and processor of leading seafood brands, Riverside specializes in the sale and delivery of lobster and scallops to customers in… Read More