Zhangzidao Hits Bottom in 2019 After Profit Rebound in 2018
According to Zhangzidao’s recent report, the company is estimated to suffer a loss between 0.35 billion yuan to 0.45 billion yuan in 2019, while it has earned about 32 million yuan during 2018. It attributes the great losses to such factors as the repeated scallop disaster and also its unapproved application for reduction in sea usage fees.
Large quantities of dead scallops in late 2019 are said to have led to a loss reaching about 0.29 billion yuan. Apart from the number on paper, there are more unreported losses...
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