One of China’s fastest expanding suppliers of shrimp seed and equipment has announced disappointing results for the first half of the year.
Listed on China’s stock exchange for small- and medium-sized firms, Li Yang Aquatic has nearly 200 stores and 1,500 staff covering the key southern Chinese shrimp production regions.
Li Yang saw revenues rise 3.5 percent to CNY 160 million (USD 23.5 million, EUR 20 million) but profits, at CNY 11.9 million (USD 1.7 million, EUR 1.5 million), were down 5.9 percent. In a note to investors, company management attributed the slump to a weaker demand for shrimp seedlings.
Li Yang Aquatic reported revenues of CNY 154 million (USD 22.6 million, EUR 19.3 million) for the first half of 2017 – up 54.9 percent year-on-year. But its profit, at CNY 14.2 million (USD 2.1 million, EUR 1.8 million) was up only 3.2 percent year-over-year.
In better news for the company, Li Yang received a national award in April for its “Yang Su Bao” (meaning “oxygen speed protection”) packs to improve oxygen stability in fish and shrimp ponds and tanks.
The company has also continued to hire, with training sessions for hundreds of new sales and advisory staff taking place this summer as part of the company’s plans to expand its sales of shrimp seed, feed, and antibiotics across southern China.
