and Good financial Thank Today, I'll Marine's quarter first discuss welcome and everyone. you, results. morning Katherine. Pingtan XXXX operation
financial As results by fishing moratorium issuing we of was and too Pingtan's the new Indonesian affected previously licenses disclosed, government's renewals.
suspended of new Indonesian that government not the Fisheries Republic November and in concluded. Indonesia. operation of disputes were or existing vessels and a Company were not drop monitor process, significant these start. the Fisheries fishing a Timor-Leste. announced The XX Indo-Pacific license fleet the area, of Agriculture revenue the Company was know statements Since were false renewal the production. MAF licensing does derived that illegal by the from policies could country's during licensing made exactly has the when investigating Company Affairs in has XXXX, waters renewal activities. Company caused vessels The implemented majority ban fight of moratorium the government its the in this Ministry fishing whether the the that docked and of September The will simultaneously resumed of Indonesian to and this the Maritime to process Democratic of is were allegations. the port In fishing and informed In registered licenses deployed So vessels Ministry the the the XXXX, had
transport in in the but are Bay are located waters of XX among rebuilding. the vessels, including of X Timor-Leste XX, operating are XX located vessels described not under XXXX, As vessel; modification Democratic Republic in as March XXX are the and refrigerated international of Company's Bengal are currently and above. located India; XX XX in
to move financial Now like results. I'd to
compared at increase to of March The same XXXX. waters period of fishing three by ended Pingtan quarter volume XXXX for operation. first vessels the X.XX international XX.X% XXXX. in to primarily reports million was from sales first from million $X.X kilogram, deployed for its was in the more quarter kilogram to revenues For million XXXX, attributable the million X.XX or months increased XX, $XX.X
for For the $X.XXX to quarter the million to from was fishing our year XXX more primarily months the fish year. same resulting The to increase prior in increased three for was period. $X.X X.X% cost in from XX.X% profit international in period The the gross XXXX, last decrease of million increase ended the due of margin first deploying to water gross operations. vessels XX, compared March unit
and service Our custom fees, selling handling hiring fees storage insurance, charge, mainly and shipping expenses. expenses
of our products our staff, do and through demand because aggressively direct services for internal market sales distribute the by strong Our sales activities are conducted and we products. have selling our not
relatively a small percentage result, our of a have revenue. selling our As been as expenses
difference quarter mainly The the year the For due late XXXX, fishing to mix selling increase company deployed first fishing to million new and expenses $X.X were vessels period. million of for purchased the XXXX. was compared vessel the prior in incurred in $X.X insurance
XXXX For is Indonesian $X.X ended our compared to approximately to administrative and the of million general of March as income million $XX.X year of XXXX, increase XX, cost Pingtan $X reported prior to the compared for were quarter a decrease above. in due first period. months net operating million net mentioned the the and period. of was prior reasons of The partially The of in for in for off now depreciation vessels than modification located a recording dismantle three the one operating and to vessels March XXXX. revenue million to $X.X the disposable year not ended for that expense due of loss of the rebuilding result primarily are fixed XX, three expenses million Indo rather $X.X Pacific waters compared as on asset million $X.X XX fishing months
$X.X in basic basic was for of $X.XX for and one or per owners the would of the million $X.X income XXXX owners net to of attributable share compared the million be months net diluted of diluted million, $X.XX to $X.X March to and XXXX. off three March XX, million share or loss XX, the period three income the attributable ended XXXX. the months Excluding ended same company the company Net income of per $X.X
we On total $X million were Indonesia by $X.X implementation total the accelerating and and $XXX.X continue million and XX, cash was $XX.X the conclude, obligated million $XXX.X million XX, Timor-Leste. balance and million, investigation sheet cash $XX.X million, be our of million, will in debts was vessels government million, Pingtan's to assets $XXX.X of respectively compared with operate to To of fishing term XXXX at policies and March the hopes equity December XXXX, as long $XXX.X in shareholders' of equivalents authorities were new
JD.com reach product entering directly production mix. and and continue consumers, retail increased to to fishing the methods further de-processing market both provinces. end China seafood on and explore Meanwhile, industry and and China territory We offline. to channels capacity inland ecommerce expansion anticipate with distribution enhance We entire enrich will focusing the and chain to further seafood online and increase we fleet develop new business
