Core Viewpoint - Guolian Aquatic Products announced the termination of the "Guolian (Yiyang) Food Co., Ltd. Aquatic Product Deep Processing Expansion Project" and plans to permanently supplement the remaining raised funds into working capital, pending shareholder approval [1][5]. Summary by Relevant Sections Project Overview - The aquatic product deep processing expansion project aimed to enhance production capacity for crayfish and fish deep processing products, with a total investment of 601.71 million yuan and a planned construction period of 12 months [3]. - The project was expected to add an annual production capacity of 15,300 tons of crayfish and 29,700 tons of fish deep processing products [3]. Financial Details - As of March 31, 2025, the project had accumulated an investment of 38.87 million yuan from raised funds, with a remaining balance of 468.42 million yuan [3]. - The project was initially scheduled for completion by January 18, 2024, but was postponed to January 17, 2026 [3]. Market Context - The decision to initiate the project in 2020 was based on the booming crayfish market, which saw significant growth in production and consumption, with the market size increasing from 146.61 billion yuan in 2016 to 344.85 billion yuan in 2020, reflecting a compound annual growth rate of 23.84% [4]. - The company aimed to address seasonal demand issues and enhance its competitive position in the aquatic product processing industry [4]. Strategic Decision - Due to changes in the macroeconomic environment and a decline in crayfish market demand, the company decided to terminate the project to improve fund utilization efficiency and resource allocation [5]. - Future investments in the aquatic product deep processing expansion project will be considered based on market conditions using the company's own funds [5].
小龙虾热度减退,国联水产终止“水产品扩建”募投项目