國內愛吃鮭魚的饕客, 可能都聽過這間來自挪威Mowi（前身Marine Harvest), 這家每年鮭魚養殖&國外出口量佔比超過挪威GDP 1 %, 就像台G神山對於台灣重要性, 年初看到MHGVY( Mowi ADR代號）從之前高點跌破20, 便開始追蹤它
PS : 2023 Norway GDP 449 billion euro, Mowi annual sales revenue 5.5 billion euro
5.5/ 449 = 1.12%
年初2月份有先小額布局, 後來在19塊附近以為會繼續上攻藍色虛線
28 Apr 和5 May 各加碼2次(成本約18.6), 占總投資組合18%
結果發現錯誤, 跌破19以後繼續下行 ! ( 沒有太責怪自己, 單純賭錯 )
回頭看過交易紀錄, 5月份陸續在 17.7 ~ 17.2 建立大約 21% 部位
已盡力壓低成本
6 Jun 趁價位低檔, 價位17.0今天再加碼14.5%, 截至當日Mowi佔總部位 65% , 老天保佑我.....錢所剩不多, 打算賣掉部分台股, 資金移到Mowi 支援
時間很快來到2023Q3, 年初我一時賭錯把Mowi價位買的有些高約18塊, 後來死拖活拖想辦法將成本壓在17.6附近, 6月份某一晚它突然從16.9飆漲到17.6（虧損幾乎全部回來）一看機不可失, 趕緊賣掉70%部位（賭它未來回跌）果然賣掉後一個星期回跌至17.0~17.2, 我就在這個價位區間(17 ~ 17.2)重新進場佈局（成本變成17.1） 之前買太高劣勢已消失, 牌局重新開始👽 押股比重破50%, 慢慢加碼, 最高一度來到78%
後來過一陣子它再度發動攻擊, 一下子漲到17.8
開始賺錢, 前陣子在18.1有部份了結, 但目前部位仍佔40%
寫信去提問 Mowi Investor Relation 發言人
值得一提的是, 今年5月趁著Mowi開股東大會, 我有寫封mail寄去詢問他們投資關係人代表Kim Dosvig。因為投資人最重視的挪威新頒布「35%環境資源稅 Resource rent tax」明顯影響Mowi 2023 profit after tax 。 信中提問內容大致如下 :
Mowi養殖鮭魚的漁場除了挪威- 英格蘭北海的主要漁場, 在加拿大, 南美智利都有漁場, 被課稅的地理範圍是那些區域！？ 我想先搞清楚, 它們鮭魚出貨量大約多少比重會被課稅35% ！？
詢問信寄出一個星期沒收到回應, 心理想說自己是個來自Taiwan, Asia 小散戶, 沒回應屬正常, 寄出後第10天上午, 剛幫長輩洗澡完, 換上乾淨尿布, 安置好長輩睡覺, 回神拿起手機滑滑, 看到螢幕Gmail出現字眼Mowi, Mr. Dosvig, 有些驚喜, 打開來看, 針對Mowi 養殖漁場被課稅35%地理範圍，他回覆如下圖 ：
我當天下班回家立即回信Dosvig先生, 感謝他的回覆, 並附上自己帳戶5月份當時投資MHGVY比重, 解釋自己是個 Tiny Retailer investor, 選擇重押他們公司, 認同其在全球鮭魚供應的地位
經過6月份賣掉所有部位, 二次重新布局, 7月份以後我就一直抱著Mowi 股票, 成本17.2, 部位70%, 一直抱到隔年2月份, 價位漲到最高19.8 幫助帳戶增值+16%
但漲到2024. Feb 當時我決定沒有賣出, 因此這個MHGVY投資沒有結束
且看下回揭曉
Agriculture in Norway, resource rent tax of 40% will be introduced with effect from 1 January 2023
price achievement includes margins from Consumer Products and Markets, but excludes margins from Feed. The quality effect is adjusted for normal quality distribution. Comparison figures from earlier periods have been re-presented accordingly.
The overall price achieved by Mowi for salmon of Norwegian origin was 2% above the reference price in the third quarter of 2021 (5% above the reference price level in the third quarter of 2020). Contribution from contracts, including contribution from Consumer Products, had a positive effect on price achievement relative to the reference price in the third quarter of both 2021 and 2020. The contract share was 22% (24%). The superior share was 95% (94%).
It is proposed that fixed assets acquired before the introduction of the resource rent tax should be deductible through depreciation of remaining tax values.
1)No deductions will be given for the cost of the fish licenses
2) or costs incurred in connection with the acquisition of a license.
On the deduction side, actual costs are used as a start, but a standard deduction may be considered for some costs. The Ministry proposes that if a company has a negative estimated resource rent income, this should be carried forward with interest and be deducted from positive resource rent income in the future.
It is proposed that
the effective resource rent tax rate is set at 40 percent. In conjunction with
the ordinary corporate tax, this leads to an overall effective marginal tax of
62 percent on proceeds from salmon, trout and rainbow trout (0,22 + 0,4 =
0,62). For example, if the tax free allowance amount in a year is NOK 54
million, profits exceeding this amount will be taxed at 62 percent.
Demand was good in
all markets, and Consumer Products sold 229 434 tonnes. This was higher than before
the pandemic, but lower than in 2020 and 2021
P32 ~ 33
Global consumption decreased by 2.0% in 2022 compared to 2021 including inventory effects. Despite the supply contraction, the estimated global value of salmon reached a record-high level, demonstrating the strong underlying growth drivers for salmon as a nutritious and sustainable source of protein. Consumption in the retail channel remained considerably above pre-pandemic levels, whereas foodservice activity improved year-on-year. Consumption in the EU and UK decreased by 1.2% compared with 2021 mainly due to lower global supply and less product availability. Underlying demand for salmon in Europe remained strong, and the further reopening of the foodservice segment had a positive effect overall demand.
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