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(Yicai Global) Jan. 12 -- Shares of China's Guolian Aquatic Products jumped after the seafood retailer said it will partner with Alibaba Group Holding's supermarket chain Freshippo on distribution.
Guolian’s stock price [SHE: 300094] surged by the daily limit of 20 percent to CNY6.22 (USD1) intraday. The shares are more than 35 percent up over the past 12 months.
The pair will develop semi-finished aquatic dishes made of shrimps, tilapia, and crawfish to be sold in Freshippo stores, the Guangdong province-based company said in a statement yesterday. The two will also team on seafood breeding and cold chain transportation.
The Hangzhou-based e-commerce giant offers dine-in dishes made from supermarket products at Freshippo outlets.
Editor: Emmi Laine, Xiao Yi