Research on World Agricultural Economy

An Exploratory Analysis of Chinese Listed Fishery Companies’ Competitiveness Based on Financial Indicators: A PCA Approach

Litao Wang

Shanghai Ocean University

Huaiyu Yang

College of Economics and Management, Shanghai Ocean University

DOI: https://doi.org/10.36956/rwae.v7i3.2882

Received: 1 November 2025; Published: 6 July 2026

Abstract

This paper is based on the financial data of Chinese listed fishery companies from 2018 to 2024, and constructs an indicator system that includes five dimensions: profitability capacity, operational capacity, capital structure, growth capability, and debt repayment capacity. Principal component analysis is used to evaluate their comprehensive competitiveness. The results show that the overall competitiveness of listed fishery companies is weak and volatile. When external shocks occur, the competitiveness of companies generally shows a significant decline, and the industrial support policies introduced by the government can improve the capital structure of companies and increase profitability in the short term. Further analysis reveals that insufficient growth capacity is the main weakness that constrains the long-term development of the industry, reflecting a lack of endogenous motivation within the company. In response to the above issues, this paper proposes the following policy recommendations: firstly, increase support for fishery technology innovation, focusing on key areas such as deep-sea aquaculture, intelligent equipment, and deep processing of aquatic products; Secondly, establish and improve the fishery risk warning and emergency response mechanism, and enhance the ability of companies to respond to emergencies; The third is to optimize fiscal subsidies and financial support methods, tilt more resources towards companies with high growth potential and sustainable operating capabilities, guide the industry to shift from scale expansion to quality improvement, and systematically enhance the comprehensive competitiveness of Chinese fishery companies.

Keywords: Financial Performance, Fishery Economy, Capital Structure Optimization, Industrial Resilience

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