Company Overview - Shenzhen Agricultural Products Group Co., Ltd. was established in 1989 and listed on the Shenzhen Stock Exchange in 1997, with 35 logistics park projects in over 20 major cities across China [1] - The company has an annual trading volume exceeding 33 million tons and an annual trading value over 250 billion yuan in the last three years [1] Strategic Planning - In 2024, the company aims to enhance service capabilities across the entire industry chain, focusing on merchant needs and expanding its market presence in cities like Chengdu, Shanghai, and Guangdong [2] - The company is developing a digital payment system to improve market operation efficiency and enhance the brand influence of "Deep Agricultural Selection" products [2] Financial Performance - In 2024, the company achieved a revenue of 5.628 billion yuan, a year-on-year increase of 2.51%, and a total profit of 807 million yuan, a slight increase of 0.15% [3] - The net profit attributable to shareholders decreased by 14.43% to 384 million yuan, primarily due to the absence of gains from the disposal of a subsidiary in the previous year [3] Business Operations - The company has established 21 branches for food ingredient distribution in major cities, forming a nationwide network centered in Shenzhen [4] - The Guangdong-Hong Kong-Macao Greater Bay Area Food Import and Export Center project spans approximately 300 acres, aiming to integrate the company's national wholesale market network [5] Market Expansion - The company has invested in 35 logistics parks across major cities, creating a comprehensive wholesale market network covering key regions in China [6] - Plans for future projects include expanding product varieties and upgrading older markets through relocation or transformation [6] Revenue Enhancement Measures - The company is focused on improving transaction efficiency in the agricultural product circulation sector by accelerating project development and optimizing market layouts [7] - It aims to expand its business model to include supply chain integration, food delivery, and import-export services [7] Stock Issuance Progress - The company’s plan for issuing shares to specific investors has been accepted by the Shenzhen Stock Exchange and is pending further regulatory approval [8][9] Impact of New Retail Models - The development of online retail does not significantly impact the company's core business, as the wholesale market remains a primary channel for fresh agricultural products [10] - The company is enhancing its digital capabilities to support business model transformation and improve service offerings [10] Measures for Underperforming Entities - The company is working to improve the operational capabilities of underperforming subsidiaries and may exit from those that continue to incur losses [11] Product Development - The company is expanding its "Deep Agricultural Selection" product range by introducing new high-quality items and enhancing brand visibility through various marketing initiatives [12][13]