国联水产战略收缩 从产能竞赛转向供应链深耕

Core Viewpoint - Guolian Aquatic Products has decided to terminate certain fundraising projects and permanently supplement working capital, reflecting a strategic shift in the aquaculture processing industry towards efficiency and supply chain management rather than mere capacity expansion [1][2][3] Company Actions - On April 17, 2025, Guolian Aquatic Products announced the termination of the "Guolian (Yiyang) Food Co., Ltd. Aquatic Product Deep Processing Expansion Project" and plans to use the corresponding raised funds to enhance working capital [1] - The company aims to improve fund utilization efficiency and optimize resource allocation by reallocating the remaining raised funds [1][2] Industry Context - The aquaculture processing industry is experiencing a significant shift from scale expansion to efficiency competition, particularly in the context of the prepared food sector entering a "survival of the fittest" phase [2][3] - Recent declines in aquatic product prices, with core raw material prices dropping over 30% year-on-year, have increased inventory impairment pressures on companies, leading to a focus on flexible supply chain management [2] Strategic Focus - Guolian Aquatic Products is prioritizing a "big single product + channel sinking" strategy, establishing a "Channel Sinking Expansion Department" to enhance market penetration [2] - The company is shifting its focus to the domestic market, launching an "export to domestic sales" initiative to offer high-quality aquatic products at competitive prices [2] Future Outlook - According to predictions, aquatic product prices may hit a cyclical bottom in 2024, positioning Guolian Aquatic Products to leverage its supply chain advantages to capture market share as the industry recovers [2]