Investment Rating - The report does not explicitly provide an investment rating for the aquaculture seed industry. Core Insights - The aquaculture seed industry is projected to grow steadily, with the output value expected to increase from 757 billion yuan in 2022 to 836 billion yuan by 2027, reflecting a compound annual growth rate (CAGR) of approximately 2.1% [9][10][12]. Summary by Sections Aquaculture Seed Output Value - The output value of aquaculture seeds has shown a slight decline from 681 billion yuan in 2017 to 664 billion yuan in 2018, followed by a gradual increase to 772 billion yuan in 2023E and projected to reach 836 billion yuan by 2027 [9][10]. Total Fishery Output Value - The total fishery output value has increased from 1,231.4 billion yuan in 2017 to an estimated 1,642.73 billion yuan in 2023E, with projections to reach 1,952 billion yuan by 2027 [10][14]. Marine Aquaculture Output Value - Marine aquaculture output value rose from 330.7 billion yuan in 2017 to an estimated 474.3 billion yuan in 2023E, with projections of 576.5 billion yuan by 2027 [11][18]. Freshwater Aquaculture Output Value - Freshwater aquaculture output value increased from 587.6 billion yuan in 2017 to an estimated 824 billion yuan in 2023E, with projections to reach 1,001.6 billion yuan by 2027 [12][23]. Marine Capture Output Value - Marine capture output value increased from 198.8 billion yuan in 2017 to an estimated 242.1 billion yuan in 2023E, with projections to reach 267.2 billion yuan by 2027 [27][28]. Freshwater Capture Output Value - Freshwater capture output value decreased from 46.2 billion yuan in 2017 to an estimated 29.7 billion yuan in 2023E, with projections to decline further to 23.1 billion yuan by 2027 [32][33].