Joyvio Food sells stake in Australis Seafoods to improve financial health

From Yahoo Finance: 2025-04-25 11:20:00

Joyvio Food, a subsidiary of Joyvio Group, has sold its stake in Chilean salmon supplier Australis Seafoods to another division within the group, Joyvio Premium Fresh, for one yuan. This move aims to improve Joyvio Food’s financial health and asset quality.

Joyvio Food has faced challenges with high costs and declining sales, leading to significant losses. Revenue for the first quarter of 2025 dropped by 34.1% to 677.5m yuan, with a net loss of 180.9m yuan. The sale of Australis is expected to enhance Joyvio Food’s financial position and create opportunities for operational improvements.

Australis reported a loss before tax of 16.5m yuan for the first quarter of 2025, following a loss of 121.7m yuan in 2024. Joyvio Group is exploring strategic options for Australis, including bringing in new investors to support working capital and future expansion plans. Joyvio Premium Fresh, a wholly-owned division of Joyvio Group, provides management and consulting services.

The sale of Australis Seafoods by Joyvio Food is part of a broader effort to strengthen the financial position of the group’s struggling subsidiary. This move reflects Joyvio Group’s commitment to improving its asset-liability structure and pursuing sustainable development.



Read more at Yahoo Finance: Joyvio Food sells salmon subsidiary Australis