Shandong Zhonglu Oceanic Fisheries Co Ltd

Zhonglu B, stock code 200992, released its 2026 interim report on August 25. During the reporting period, the company achieved operating revenue of 411 million yuan, down 39.39% year on year. Net profit attributable to the parent company was negative 37 million yuan, with the loss widening 174.23% year on year. Operating cash flow turned from positive to negative, with a net outflow of 32 million yuan. The company's revenue mainly comes from three segments: cold storage processing and trade, distant-water fishing, and refrigerated transport. Among them, distant-water fishing revenue was 164 million yuan, down sharply by 49.49% year on year, with a gross margin of negative 13.05%, making it the main drag on performance. Cold storage processing and trade revenue was 237 million yuan, accounting for 57.83% of the total, down 30.86% year on year. Refrigerated transport revenue was 56 million yuan, down 20.91% year on year, with a gross margin of only 5.11%. Financial expenses rose 317.36% year on year to 16 million yuan due to increased exchange losses, further eroding profit. The company faces fishery resource fluctuations, high fuel costs, and exchange rate risks, but has passed the BRCGS A+ certification, laying a foundation for expanding into the EU market.