Guolian Aquatic Products (300094) Limit-Up Analysis: Policy Tailwinds Drive Import Substitution Demand Surge

Guolian Aquatic Products (300094) hit the limit-up after the afternoon opening on November 19, 2025, with a gain of 20.09%, closing price at 5.38 yuan, turnover of 2.017 billion yuan, and turnover rate of 37.53%[1][2]. The core driving factor is the policy tailwind of China suspending Japanese aquatic product imports[5][8], which directly stimulated the collective surge of the domestic aquatic aquaculture sector, forming a significant sector effect[3][7].

As a leading domestic aquatic aquaculture enterprise, the company’s main business is aquatic food (accounting for 97.65%)[0], which will directly benefit from the growth in import substitution demand. In addition, the industry fundamentals are in a recovery phase; aquatic product prices are currently at historical lows[0], combined with the good growth expectations of the company’s pre-made dish business[0], multiple factors jointly support the stock price performance.

1. Policy-driven import substitution logic is clear
   : After the suspension of Japanese aquatic product imports, the domestic market demand gap will be filled by local enterprises; Guolian Aquatic Products, as an industry leader with production capacity and channel advantages, directly benefits[5][8].
2. Sector effect strengthens market sentiment
   : On the same day, multiple stocks in the aquatic aquaculture sector hit the limit-up; Guotai Haitong Securities Chengdu North First Ring Road net bought 64.883 million yuan[1], indicating active participation of institutional funds.
3. Turnover hits recent high
   : The daily turnover reached 2.017 billion yuan, the highest since November 11, 2024[2], reflecting a significant increase in market attention.

• Import substitution demand release: During the policy duration, domestic aquatic product prices are expected to rise, and the company’s performance elasticity is large[0].
• Pre-made dish business growth: The company has a complete layout in the pre-made dish business, which is expected to achieve rapid growth with industry recovery[0].

• Policy sustainability uncertainty: If the import restrictions on Japanese aquatic products are relaxed, the sector’s popularity may cool down quickly[0].
• Short-term valuation rises rapidly: The daily turnover rate was as high as 37.53%[2], increasing short-term fluctuation risks; need to pay attention to subsequent capital flows.

Guolian Aquatic Products (300094) this limit-up is mainly driven by policy tailwinds, with clear import substitution logic and significant sector effect. As an industry leader, the company’s fundamental improvement expectations are combined with policy dividends, and short-term market attention is high. However, attention should be paid to policy sustainability and short-term valuation fluctuation risks; investors should make rational decisions based on their own risk preferences.