One of China's biggest aquaculture feed companies toppled into a loss in its 2024 financial year, as customers failed to settle accounts in a harsh operating environment.
Shenzhen listed Guangdong Yuehai Feed Group, which has 20 subsidiaries around China and Vietnam, expects its 2024 accounts to show a net loss of between CNY 69 million (€9.1 million/$9.5 million) and CNY 98 million (€12.9 million/$13.5 million) from a 2023 net profit of CNY 41 million (€5.4 million/$5.6 million).
The company blamed a sluggish aquaculture market and low market prices for farmed product.
