date:Aug 26, 2013
were up 21.5 percent year-on-year due to higher fuel and labor costs. Tuna fish accounted for 83.8 percent of its total sales, yet operating costs for tuna production increased by 64.8 percent, squeezing margins by 11.9 percentage points to 33.5 percent. Kaichuangs profits were also dented by a CNY 17 million (USD 2.8 million, EUR 2.1 million) loss it booked on the sale of a tuna fishing vessel bought in 2007.
Intriguingly, Kaichuang also reported a shift to domestic sales, away from its tradi