Industry award furthers Zoneco’s return to favor
Zoneco appears to be continuing a rehabilitation of its relationship with the Chinese government and with investors following a rough patch in its business.
Zoneco fell out of favor when it reported a USD 140.7 million (EUR 132.3 million) loss for the third quarter of 2014, which it blamed on the wipe-out of its scallop stocks by a freak cold-water current in the northern Yellow Sea.
However, at a side event of the 2016 China Fisheries Annual Conference convened by the Agricultural Ministry in Beijing, the company was given the Kunpeng Prize by the National Aquatic Technology Extension Station, a government-funded body dedicated to improving standards in Chinese aquaculture.
Zoneco (still referred to as Zhangzidao in Mandarin) boss Wu Hougang accepted the prize for the firm, as well as a separate Kunpeng for himself, recognizing Wu’s efforts to promote the aquaculture sector in China.