Crayfish prices continue to fall, many brands respond to the falling prices of crayfish.
During the crayfish season, the price of crayfish has been continuously falling. A staff member at the Hangzhou aquatic market stated that at the beginning of the season in March, about 10,000 catties of crayfish were sold daily, but by late April, the daily sales exceeded 100,000 catties. The price of medium-sized crayfish has dropped from 40 yuan per catty to the current 17 yuan per catty, a decrease of over 50%. Inquiries made by journalists acting as investors to Guolian Aquatic revealed that the company's revenue from aquatic food business declined significantly last year, mainly due to accounting adjustments in their supply to Hong Kong business from recognizing income on a "total amount" basis to a "net amount" basis. The company's crayfish business has also experienced a decline, but specific data has not been disclosed, and operations are currently running as usual. An employee at Anjing Food mentioned that the company's revenue and net profit growth decreased last year, possibly due to the overall industry environment. The crayfish business has also been impacted, as crayfish used to be a popular product, but its popularity has declined in recent years. Sales are still at a certain scale, but prices have slightly dropped.
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