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Export of fish meal
According to the financial report of China Fishery Group, the company's net sales revenue in 2021 was US$464 million, an increase of 56% over the previous year, but the net loss surged from US$767,000 in 2020 to US$39 million, mainly due to the doubled financial expenses of China Fishery Grou.
It reached as much as $129 million, more than double 2020 ($601 million.
It reached as much as $129 million, more than double 2020 ($601 million.
Finance charges primarily consist of credits extended by five banks in 2014, and principal and interest owed on the US$271 million bond issued in 2012.
Since the beginning of this year, the price of Peruvian super fishmeal has continued to rise, and the price in July (CNF Shanghai) rose to $1,924/to.
China Fishery's management estimates that the anchovy fishing quota and business restructuring will allow the company and its subsidiaries to generate sufficient profits and cash flow to reverse medium- and long-term losse.
China Fishery Group’s creditors agreed to convert $750 million in debt into equity and inject $150 million in new capital to recapitalize, improve liquidity and pay down bankruptcy-related expense.
China Fishery Group’s creditors agreed to convert $750 million in debt into equity and inject $150 million in new capital to recapitalize, improve liquidity and pay down bankruptcy-related expense.
China Fishery Group has the largest anchovy fishing quota in Peru, including a 19% quota in the central and northern production areas of Peru and a 18% quota in the southern production are.
In 2021, the anchovy output of China Fishery Group will be about 840,000 tons, an increase of 25% over the previous year; the company has 50 fishing vessels, 16 fishmeal processing plants (9 plants are in normal operation), and purchased 216,000 tons of anchovy from third parties fish raw materia.
In 2021, the output of fish meal of China Fishery Group will be about 256,000 tons, an increase of 15%, and the output of fish oil will be 35,700 tons, an increase of 12.
In 2021, the output of fish meal of China Fishery Group will be about 256,000 tons, an increase of 15%, and the output of fish oil will be 35,700 tons, an increase of 12.
