Fishermen hull scallops on Nanhuangcheng Island of Yantai, east China's Shandong Province, Aug. 9, 2020. In recent years, aquafarms around Nanhuangcheng Island have managed to develop the marine economy without compromising ecological regulations. The island's total fisheries and aquaculture production value in 2019 reached 88 million yuan (12.63 million U.S. dollars). (Xinhua/Wang Kai)

The stock price of Chinese aquaculture company Zoneco Group Co reached its daily up limit on Tuesday morning following speculation online claiming that volcanic ash from Tonga will boost the output of the company's scallop production. 

Zoneco on Tuesday said they hadn't seen any rumors and committed to being transparent with all relevant information, according to a report of cls.cn. The company officially responded to the news on Tuesday afternoon that the rumors were baseless and the managements of the company didn't received any interview about the news.

Fan Xubing, president of Beijing Seabridge Marketing, told the global times on Tuesday that the speculation can be proved was wrong as the long geographic distance between Tonga to Zoneco's breeding sites in China. 

"Zoneco's scallop production will not be affected as long as Tonga's volcano doesn't disrupt global ocean currents," Fan said. He also noted that he had not heard about any connection between volcanic ash to aquatic production levels throughout his career.