Fishermen in Jilin kicked off their annual ice-fishing festival Friday with a weighty haul: a 45-pound fish that was quickly auctioned off for 999,999 yuan ($145,943).

The buyer? Panpan Foods, a well-known Chinese snack company based in Fujian.

Though the annual event celebrates ancient ice-fishing techniques and boasts an air of sacred respect for the region’s traditions, the auspicious first catch can sell at auction for a wildly “modern” sum — in this year’s case, a million yuan.

The UNESCO-recognized festival showcases the Mongolian technique of piercing holes in thick winter ice and threading nets into the water beneath — a method that can capture huge batches of fish.

Related: China’s Bohai Sea Is ‘Almost Out Of’ Large Fish, Report Warns