Homegrown premium seafood value chain manager Oceanus Group has reported a net profit of RMB3.6 million ($711,611) for the 1H20 ended June from a net loss of RMB6.2 million over the same period a year ago.

1H20 earnings for the group, however, stood at an RMB4.8 million loss from the earnings of RMB2.7 million a year ago. This was largely due to the RMB11.4 million loss in exchange differences on translation of foreign operations compared to the RMB5.8 million gain in 1H19.

For 2Q20, the group registered a 613% surge in net profit of RMB8.9 million from the RMB1.3 million a year ago, although it saw losses of RMB2.3 million from the earnings of RMB6.3 million in 2Q19.

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