Analysis of the Impact of the Revised 2026 Fisheries Law on Fishery Aquaculture and Aquatic Seed Industry

The newly revised Fisheries Law will come into effect on May 1, 2026. Currently, no accessible links to authoritative reports or institutional comments on this revision can be retrieved, and relevant fundamental and market data (such as company lists, business structures, financials, and prices) of A-share listed companies in the fishery aquaculture and aquatic seed industry have not been obtained through existing brokerage APIs. The following is a qualitative, framework-based analysis based on the key points of the new law and industry structure for reference. Specific impacts and beneficiary targets need to be verified and quantified one by one after obtaining data.

I. Key Points of the New Law and Impact Pathways (Framework-Based)

• Quality and Safety: Stricter quality safety and origin exit/entry management may raise quality thresholds, benefiting leading enterprises with sound quality control and traceability systems, brand premiums, and standardized aquaculture.
• Green and Reduction: Requirements such as reduced drug use, aquaculture capacity assessment, and pollution control will increase investment in environmental protection facilities and technologies, raising unit costs; in the long run, it will drive out inefficient, high-pollution capacity, improving industry structure and profit stability.
• Scientific and Facility Aquaculture: Policy guidance for scientific aquaculture models, recirculating and intelligent aquaculture, deep-sea/cage aquaculture will benefit facility fishery and technical solution providers (including equipment, IoT, and water treatment) in the medium to long term.
• Seed Industry and Germplasm: Emphasis on aquatic germplasm resource protection and improved seed system construction, strengthening seed source safety and seed industry innovation. Enterprises with independent seed sources, breeding capabilities, and resource bank layout are more likely to benefit.
• Fishing Quota and Structural Optimization: Fishing quota and vessel/gear management will constrain offshore and inshore fishing, forcing the industry to shift to stock enhancement, ranching, and increased processing added value, forming long-term support for integrated aquaculture/processing enterprises.

II. Sub-Fields and Potential Beneficiary Directions (Need Verification)

• Factory/Recirculating Aquaculture (RAS etc.): More resilient in water conservation, emission reduction, epidemic control, and quality stability. Under the new law, it is more likely to receive policy and financing support. Focus on targets with mature RAS operation cases and large-scale implementation capabilities.
• Deep-Sea/Cage and Marine Ranching: Expansion to deep sea and ranching under inshore resource constraints. Policy encouragement combined with technological progress will open up incremental space. Focus on enterprises with sea area resources and integrated management capabilities.
• Aquatic Seed Industry and Improved Seed Breeding: Seed source safety and improved seed promotion are policy priorities. Enterprises with resource banks, breeding technologies, and commercial channels have long-term logic.
• Processing and Branding: Under the background of quality improvement and green development, enterprises with cold chain, deep processing, standardized production, and brand capabilities have stronger pricing power and anti-cyclical capabilities.
• Equipment and Digitalization: Demand for recirculating water, oxygenation, water quality monitoring, IoT, and automated feeding will rise. Segment leaders with productization capabilities and implementation cases may benefit.

III. Potential Relevant A-Share Targets (Need Verification, Not Investment Advice)

• Guolian Aquatic Products (300094): Focuses on aquatic processing and pre-made dishes, covering supply chain and channels. Need to verify the sensitivity of its upstream aquaculture proportion and cost structure to environmental compliance.
• Haodangjia (600467): Layout of high-value varieties such as sea cucumbers and aquaculture resources. Need to evaluate aquaculture methods and environmental protection investment intensity.
• Zhangzidao (002069): Greatly affected by past events. Need to check its operational compliance and governance improvement progress.
• Dahu Co., Ltd. (600257): Involves large water surface fishery and aquaculture resources. Need to analyze ecological aquaculture and capacity management capabilities.
• China National Fisheries Corporation (000798): Deep-sea fishing and processing business. Need to evaluate the impact of quota policies on its production capacity and structure.
  Note: The above is only a typical list示意 from the industry dimension and does not constitute any rating or investment advice.

IV. Long-Term Impacts (Qualitative Framework)

• Concentration Enhancement: Rising compliance costs and stricter standards will help eliminate small and scattered capacity, promoting market share concentration to leading and high-quality capacity.
• Profit Quality: The industry will shift from “volume expansion” to “quality improvement”. Enterprise profit volatility is expected to decrease, and valuation logic may gradually switch to consumer quality and green premium.
• Innovation and Digitalization: Policy orientation will accelerate investment in improved seeds, facility-based aquaculture, equipment, and digitalization, improving unit yield, efficiency, and resource utilization.
• Risk Points: Short-term increases in investment (environmental protection, seed sources, facilities, compliance) may drag down ROIC. Enterprises need to match financing capabilities and cost transfer mechanisms; policy details and implementation intensity affect the realization rhythm.

V. Follow-Up Executable Steps

• Please provide relevant listed company lists and attention periods (e.g., recent 1-3 years). I will use brokerage APIs to obtain fundamental, price, and industry data for verification and quantitative analysis one by one (including financial health, profit quality, valuation, etc.).
• If needed, I can build a comparison framework and indicator list for the above sub-directions (e.g., seed source coverage rate, RAS proportion, environmental protection investment intensity, processing proportion) and conduct screening and priority ranking after obtaining data.

References

• The revised Fisheries Law will take effect on May 1, 2026. Focus on key points such as quality improvement and efficiency enhancement, green development, and germplasm resource protection (Source: Summary of the Standing Committee of the National People’s Congress announcement and public policy documents; currently no accessible authoritative links are retrieved; it can be updated based on official documents and subsequent regulatory interpretations).
  Note: There are no external data sources to cite for in-industry analysis and framework sorting. Authoritative links and brokerage API data sources will be supplemented and marked after obtaining official and institutional materials.