Joyvio Food sells salmon subsidiary Australis

Joyvio Food, a subsidiary of Joyvio Group, has divested its full involvement successful Australis Seafoods, a Chilean salmon supplier.

The loss-making salmon concern is being acquired by Joyvio Premium Fresh, different part wrong Joyvio Group, for the symbolic sum of 1 yuan.

In a banal speech filing, Joyvio Group’s parent, the concern holding institution Legend Holdings, said pursuing the transportation of Australis, Joyvio Food's “asset-liability operation volition beryllium improved” and its “asset prime volition beryllium optimised”.

Joyvio Food has been struggling with precocious operating costs, fiscal expenses, and declining accumulation and sales, which has resulted successful important losses and raised the hazard of delisting from the Shenzhen Stock Exchange, according to the filing.

For the 3 months ended 31 March, Joyvio Food reported a 34.1% alteration successful gross to 677.5m yuan ($106.6m), a abstracted filing showed contiguous (25 April).

Net nonaccomplishment attributable to shareholders plummeted 106% to 180.9m yuan.

Both the basal and diluted net per stock delivered a nonaccomplishment of 1.04 yuan, reflecting a 106% widening successful losses compared to the erstwhile year.

With the Australis sale, Joyvio Food, which is 46.08% owned by Joyvio Group, expects to “enhance its nett plus level and sustainable improvement capability”.

The institution further argued that the merchantability volition beryllium “creating country for aboriginal operational improvements”.

Joyvio Premium Fresh, incorporated successful China, provides absorption and consulting services and is wholly-owned by Joyvio Group.

Australis, which produces and markets some freshwater and saltwater salmon, became portion of Joyvio Food successful 2018.

For the archetypal 4th of 2025, Australis reported a nonaccomplishment earlier taxation of 16.5m yuan, the merchantability filing showed. The nonaccomplishment for the 2024 twelvemonth amounted to 121.7m yuan, narrowing from a 161.3m yuan nonaccomplishment successful the erstwhile 12 months.

Joyvio Group is considering imaginable strategical options for Australis, including introducing caller strategical investors to supplement moving superior and hole for aboriginal accumulation capableness expansion.

"Joyvio Food sells salmon subsidiary Australis " was primitively created and published by Just Food, a GlobalData owned brand.

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