August 10 -- Dalian Zhangzidao Fishery Group (002069.SZ) suffered a loss initially estimated at 30 million yuan due to hurricane Muifa, reports the Oriental Morning Post. The company’s fish cages, abalone and sea weed products were damaged in the storm, but the company expects the China Fishery Mutual Insurance Association to compensate the loss.

Zhangzidao Fishery previously suffered a loss of 10 million yuan from typhoon Milei in June, and was asked for compensation of 28 million yuan when its cages were blown into another company’s area, pushing over a neighboring company’s support facilities.

Zhangzidao Fishery also announced that it will cooperate with Japanese companies to create a joint venture in the Dalian Duty Free Zone. The new entity will conduct frozen seafood product logistics business.

Source:CapitalVue