One of China's biggest aquaculture producers expects its losses to have widened significantly last year as it contends with a sluggish shrimp market and “increasingly fierce” competition.

Guolian Aquatic is forecasting a loss of between CNY 360 million and CNY 470 million (€46.6 million/$50.7 million to €51.9 million/$66.2 million) for 2023, the company said in a statement to the Shenzhen Stock Exchange on Friday.

This would compare with a loss of CNY 7.6 million (€984,000/$1.1 million) in the previous year.