October 10, 2013

CNFC reports US$2.45 million net loss in first three quarters of 2013

 

CNFC Overseas Fishery Co., Ltd. (CNFC) announced its financial report for the first three quarters of 2013 on October 8. From January to September 2013, CNFC suffered a net loss of RMB15 million (US$2.45 million).

CNFC says that the loss was mainly due to the price drop in tuna and squid, with a decline of as much as 20%. Though the company received RMB43.35 million (US$7.08 million) in financial subsidy this year, it was short of RMB37.18 million (US$6.07 million) compared to 2012.

CNFC Overseas Fishery Co., Ltd. mainly engages in deep-sea fishing, the transportation, processing and export of aquatic products.