Joyvio Group is “creating core advantages of the entire salmon industry chain”.
Joyvio Group, a subsidiary of Legend Holdings, is betting on Chilean salmon for its recovery from COVID-19 disruption.
East Money reports that in the first quarter of 2021, Joyvio achieved an operating income of EUR 147 million and a net profit of EUR 20 million.
Joyvio, which through Chinese giant Legend is developing supply chains of fresh fruits and fresh seafood, said that with the gradual control of the epidemic, the terminal market demand and sales price of animal protein represented by salmon have shown signs of recovery.
“The company (Australis Seafoods .ed) has passed the most difficult period and its overall operation has stabilized and improved. During the reporting period, the company’s planned increase of capital of YUAN 416 million (EUR 53 million .ed) was fully subscribed by the controlling shareholder, and the asset-liability structure became more stable,” wrote Joyvio.
“In the future, as the global economic recovery accelerates and terminal consumption continues to pick up, the company’s operating performance will be further improved,” added Joyvio.
In 2020, salmon production reached 100,000 tonnes, an increase of nearly 50 per-cent compared to 2019. This includes Atlantic, coho and trout.
Joyvio added that look ahead, Australis will “launch standard fresh semi-finished products and pre-packaged refrigerated meals to provide more optional salmon cooking solutions for catering companies”.
In terms of offline marketing, the company operates and sells imported seafood and other aquatic products under its own brand “Haimai” by setting up direct franchise stores. In terms of online marketing, the company sells its mid-to-high-end seafood brand “Jiawo Fresh”’s salmon products on commerce platforms such as Mall, Tmall, Daily Youxian and Dingdong Maicai.