Core Viewpoint - The aquaculture sector in China is experiencing a significant rebound, with major aquatic product prices rising to historical highs by 2025, driven by market recovery after a two-year period of inventory digestion [1] Industry Summary - The aquaculture concept stocks are showing active performance, with several companies such as Guolian Aquatic Products, Haodangjia, Dahu Co., and Zhangzidao hitting their daily price limits [1] - Longjiang Securities reports that the price of grass carp has reached a peak of 14 yuan per kilogram, representing a 25% increase from the beginning of the year [1] - Prices for specialty aquatic products like California bass and yellow catfish have risen to 22.1 yuan per pound and 15.8 yuan per pound, respectively, both surpassing the highest levels since 2021 [1] - The price recovery is attributed to the necessary market adjustments following the inventory digestion phase experienced in 2023 and 2024 [1]

Core Viewpoint - The aquaculture sector is experiencing a significant surge, with multiple stocks showing strong performance and a forecasted recovery in prices for major aquatic products by 2025, driven by market dynamics following a period of inventory adjustment [1][3]. Group 1: Stock Performance - The aquaculture index (884870) increased by 9.07%, reaching 2375.59 points [2]. - Notable stock performances include: - Guolian Aquatic Products (300094.SZ) rose by 20.09% to 5.38 [2]. - Zangzi Island (002069.SZ) increased by 10.10% to 4.58 [2]. - Dahu Co., Ltd. (600257.SH) saw a rise of 10.08% to 6.99 [2]. - Other stocks like Baiyang Co., Ltd. (002696.SZ) and Kaichuang International (600097.SH) also reported increases of around 10% [2]. Group 2: Industry Outlook - According to Changjiang Securities, the Chinese aquaculture industry is expected to recover significantly by 2025, with major aquatic product prices returning to historical highs [3]. - Specific price increases noted include: - Grass carp prices reaching 14 yuan per kilogram, a 25% increase from the beginning of the year [3]. - Prices for specialty aquatic products such as California bass and yellow catfish rising to 22.1 yuan and 15.8 yuan per kilogram, respectively, marking the highest levels since 2021 [3]. - The report suggests that this price recovery is a natural outcome following two years of inventory digestion in 2023 and 2024 [3].

Core Viewpoint - The aquaculture sector in China is experiencing a significant surge, with multiple stocks reaching their daily limit up, indicating strong market interest and potential investment opportunities [1][3]. Industry Summary - As of November 19, several aquaculture stocks, including Guolian Aquatic (300094), have hit the daily limit up, reflecting a robust performance in the sector [1]. - Longjiang Securities reports that the Chinese aquaculture industry is expected to see a notable recovery by 2025, with major aquatic product prices rising to historical highs [3]. - Specific price increases include grass carp reaching 14 yuan/kg, a 25% increase from the beginning of the year, and prices for specialty aquatic products such as California bass and yellow catfish hitting 22.1 yuan/lb and 15.8 yuan/lb, respectively, both surpassing levels not seen since 2021 [3]. - The report suggests that this price rebound is a natural outcome following two years of stock adjustment in 2023 and 2024 [3].

今日午后，水产养殖板块直线拉升。国联水产、獐子岛、大湖股份、好当家午后相继直线涨停。 | 创 | 4 | 国联水产 300094 | 5.38 | +20.09% | +0.90 | | --- | --- | --- | --- | --- | --- | | SZ | 4 | 障子岛 | 4.58 | +10.10% | +0.42 | | | | 002069 | | | | | SH | + | 好当家 | 3.01 | +9.85% | +0.27 | | | | 600467 | | | | | ટેન | | 大湖股份 | 6.99 | +10.08% | +0.64 | | | | 600257 | | | | ...

| 创 | 4 | 国联水产 300094 | 5.38 | +20.09% | +0.90 | | --- | --- | --- | --- | --- | --- | | SZ | 4 | 獐子岛 | 4.58 | +10.10% | +0.42 | | | | 002069 | | | | | SH | 4 | 好当家 | 3.01 | +9.85% | +0.27 | | | | 600467 | | | | | SH | 4 | 大湖股份 | 6.99 | +10.08% | +0.64 | | | | 600257 | | | | 今日午后，水产养殖板块直线拉升。国联水产、獐子岛、大湖股份、好当家午后相继直线涨停。 ...

（文章来源：每日经济新闻） 每经AI快讯，11月19日，水产股午后继续走强，国联水产、好当家、大湖股份、獐子岛午后开盘秒 板，中水渔业、开创国际、东方海洋此前涨停。 ...

| 6.99 | 所属行业:农林牧渔 +0.11% > 查看所属板块 > | | | | | | | --- | --- | --- | --- | --- | --- | --- | | +0.64 +10.08% | 水产 +7.38% 最相关 | | | 白酒 -0.81% | | | | 今 开 | 6.47 最 高 | | 6.99 | 成交量 | 71.9万手 | | | 昨 收 | 最 低 6.35 | | 6.30 | 成交额 | | 4.67亿 | | 市智 | -4460.69 换手率 14.95% 总市值 | | | | | 33.6亿 ▲ | | 涨停分析 | 水产 公司大力发展冰鲜冰冻淡水产品,研 ... > | | | | | | | 分时 | 五日 周Ｋ 月Ｋ 分钟 ▼ | 日K | | | | 0 | | 6.99 | | | 10.08% | 买 卖5 | | 院 0 | | | | | | 卖4 | | 0 | | | | | | 季3 | | 0 | | 1 | | | | 卖2 | | 0 | | | | | | 卖1 | | 0 | | | | | | 三1 | 6. ...

Core Insights - The fishery sector experienced a significant increase of 6.74% on November 17, with Zhongshui Fishery leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Zhongshui Fishery (000798) closed at 10.31, up 10.03% with a trading volume of 114,400 shares and a transaction value of 118 million [1] - Kaichuang International (600097) closed at 13.29, up 10.02% with a trading volume of 231,500 shares and a transaction value of 307 million [1] - Guolian Aquatic Products (300094) closed at 4.22, up 9.33% with a trading volume of 3.9659 million shares and a transaction value of 1.788 billion [1] - Haodangjia (600467) closed at 2.78, up 5.70% with a trading volume of 3.0887 million shares and a transaction value of 881 million [1] - Zhangzidao (002069) closed at 4.23, up 2.17% with a trading volume of 737,900 shares and a transaction value of 323 million [1] - Dahuhua (600257) closed at 6.38, up 1.92% with a trading volume of 1.0547 million shares and a transaction value of 696 million [1] Capital Flow - The fishery sector saw a net inflow of 325 million from main funds, while retail funds experienced a net outflow of 150 million and 175 million respectively [1] - Guolian Aquatic Products had a main fund net inflow of 112 million, while retail funds saw a net outflow of 12.2 million [2] - Haodangjia recorded a main fund net inflow of 67.7 million, with retail funds experiencing a net outflow of 38.8 million [2] - Zhongshui Fishery had a main fund net inflow of 39.6 million, while retail funds saw a net outflow of 20.5 million [2] - Dahuhua had a main fund net inflow of 30.3 million, with retail funds experiencing a net outflow of 64.6 million [2] - Zhangzidao recorded a main fund net inflow of 17.9 million, while retail funds saw a net outflow of 41.8 million [2]

Market Overview - The military equipment sector showed strong performance with Jianglong Shipbuilding hitting a 20% limit up, Great Wall Military and Beifang Longzhong also reaching limit up, while Tianhai Defense, Guoke Military, and Inner Mongolia First Machinery increased by over 5% [3][6]. - The aquaculture sector opened collectively high, with Guolian Aquatic, Zhongshui Fishery, Dongfang Ocean, and others hitting limit up, while Dahu Shares, Zangzi Island, and Baiyang Shares saw significant gains [3]. Index Performance - The A-share market opened lower with the Shanghai Composite Index down 0.05%, Shenzhen Component down 0.12%, and ChiNext down 0.46% [4][5]. - The Hang Seng Index opened down 0.49%, and the Hang Seng Technology Index fell by 0.71%, with technology stocks generally retreating [7][8]. Sector Performance - The military equipment and textile manufacturing sectors were on the rise, while gold, shipping, and duty-free concept sectors were sluggish [6].

辽宁槐城律师事务所 地 址：大连市西岗区新开路 82 号越秀大厦 2601 室 承办律师：郭晓杰/王业子 电 话：(0411)83769126 传 真：(0411)83769113 手 机：15942479212 槐法意字【2025】676 号 辽宁槐城律师事务所 关于獐子岛集团股份有限公司 2025 年第三次临时股东会 1 神对公司提供的与出具本法律意见书有关的文件材料进行了核查验 证，现出具法律意见如下： 一、本次股东会的召集和召开程序 （一）本次股东会的召集 之 法律意见书 致：獐子岛集团股份有限公司 根据《中华人民共和国公司法》等有关法律、法规、规范性文件 及《獐子岛集团股份有限公司章程》（以下简称"《公司章程》"） 的规定，本所接受獐子岛集团股份有限公司（以下简称"公司"）的 委托，指派律师郭晓杰、王业子，出席了 2025 年 11 月 14 日召开的 公司 2025 年第三次临时股东会，并就公司本次股东会的召集和召开 程序、本次股东会的出席人员资格、会议召集人资格及本次股东会的 表决程序、表决结果等重要事项的合法性出具法律意见书。 本所律师同意将本法律意见书作为公司本次股东会的法定文件 予以公告， ...