经济观察报 记者 钱玉娟 2025年，当一亩田在纽约时代广场的屏幕上亮相，正式成为中国农业全产业链第一股时，我回想起2011年从百度辞职，带着帮助农民解决"卖货难"问题，一 头扎进乡村创业的情景。 十四年过去了，我的初心从未改变：用数字科技去服务广阔的乡村。上市对一亩田来说，是一个全新的起点，给团队带来了更强的资本支撑，也赋予了公司 更重的责任。农业是慢行业，容不得半点浮躁，需要脚踏实地，扎根产地、贴近农户，每一步业务拓展都要基于农户和产业的真实需求。 投身中国农业数字化转型升级的大潮中，我深切感受到，科技赋能农业不再是一句口号，而是正在发生的现实。一亩田以数字化服务农业的方式也正在发生 变革。过去，只要解决信息不对称，帮助农民卖掉货就是成功，但现在团队意识到，让农民不仅能卖得出，还能卖得贵、卖得稳才是核心，背后需要一亩田 打通生产、流通、消费的全链路。 为此，一亩田深入产地端，通过沃众田和沃来采两大业务模块，开启了对农业全产业链的数字化改造。一亩田不再只是旁观者，而是通过新品种、新技术、 新渠道策略，亲自下场种地，参与大农场运营。比如沃众田在湛江就利用"天机"大数据系统来选定种薯，跨越千里引进北方机械化团队 ...

红杉中国合伙人周逵说 ， " 在这样一个商业上不是那么肥沃、没有那么多人鼓掌的行业里坚持这么 久，犯过错、踩过坑 ， 但仍然愿意坚持前行，并总有创新，我认为这才是今天创业者的绝大多数。 " 作者丨卷耳 编辑丨吴岩 北京市海淀区东升科技园的办公室里，占据了 一 面墙的电子屏上，跳动着全国各地农产品的实时供需走势，这是一亩田自 研 的农产品B2B天机大数据系 统。 " 我们是一 家 帮农民卖农产品的公司，也是 一家 自己种地的公司，接下来还想成为 一家 帮农民采购 化肥和 生活用品的公司 。"创始人邓锦宏现在这样 介绍一亩田。 2025年圣诞节，是一亩田搬到东升科技园的第十年。10年前的圣诞节，一亩 田刚刚 度过创立以来最大的低谷，完成了一轮关键的融资，搬到了这里。 成立初期的一亩田，伴随着移动互联网的创业热潮，高歌猛进。作为最早的农业互联网创业者，如何在这个 最 传统的行业中发现农民最大的需求，一直是 个不小的挑战，一亩田也经历了业务方向上的探索，有过低谷、有过挫折，但也最终找到了适合的方向，直到2025年8月在纳斯达克上市。 就 像最大 机构股东红杉中国 的 合伙人周逵所说， 不是每个创业者都能一帆风顺，甚至 ...

Core Viewpoint - The article discusses the upcoming economic journey starting in 2026, emphasizing the resilience and vitality of the Chinese economy as it approaches the end of the "14th Five-Year Plan" and prepares for the "15th Five-Year Plan" [2][3][4]. Economic Strategy - The Central Economic Work Conference highlighted the need to maintain a stable yet progressive approach in economic work, focusing on stabilizing employment, enterprises, markets, and expectations to achieve qualitative and effective growth [3][4]. - The conference also emphasized the importance of expanding domestic demand and optimizing supply to enhance new productive forces [11]. Company Initiatives - Yimuyuan Group, led by Chairman Deng Jinhong, aims to embrace AI technology and deepen its integration with the agricultural industry, focusing on digital transformation and value enhancement across the agricultural supply chain [6][13]. - The company plans to utilize market data from its app to guide farmers in aligning their production with market demand, thereby avoiding mismatches in supply and demand [11]. - Yimuyuan is developing a dual approach of online and offline services to improve the efficiency of agricultural product circulation, with its app serving nearly 60 million users and covering over 2,800 counties [11][12]. Future Goals - For 2026, Yimuyuan Group aims to achieve growth in performance, product innovation, and business lines while maintaining its mission of enhancing the value of every acre of land [13]. - The company intends to create a standardized brokerage service network to ensure transparency and efficiency in the agricultural market, allowing high-quality products to reach consumers more effectively [12][13].

Core Insights - The company, Yimudian, celebrated its 14th anniversary and released its first internal letter post-IPO, outlining significant business progress and strategic directions [1] - Founder Deng Jinhong emphasized the transformation of the Yimudian APP from an information matching platform to a "content + matching" platform, aiming to enhance user service efficiency through comprehensive AI integration [1] - The company plans to expand its international business by replicating its APP, Wolai Cai, and Wozhong Tian services in Southeast Asia, Africa, and South America [1] Company Overview - Yimudian was established in 2011 and is headquartered in Beijing, focusing on digital solutions in the agricultural product circulation sector [1] - The company addresses the challenges faced by farmers in selling their products by providing transaction matching services for agricultural brokers and urban wholesalers [1] - Yimudian is set to be listed on the NASDAQ on August 19, 2025 [1]

Group 1 - The core message of the internal letter from Yimudian's founder, Deng Jinhong, emphasizes the transformation of the Yimudian APP from an information matching platform to a "content + matching" platform, enhancing user service efficiency through comprehensive upgrades in user publishing, content generation, user browsing, and algorithm sorting [1] - Yimudian plans to fully initiate international business expansion, aiming to replicate its APP, Wolai Cai, and Wozhong Tian services in Southeast Asia, Africa, and South America, thereby broadening its global reach [1] - Established in 2011 and headquartered in Beijing, Yimudian has focused on digital solutions in the agricultural product circulation sector, addressing the selling challenges faced by farmers and providing transaction matching services for agricultural brokers and urban wholesalers [1]

Core Insights - The company, Yimudian, is celebrating its 14th anniversary and has announced a strategic shift towards AI integration in its app to enhance user service efficiency [1] - The focus on the "Wolai Cai" business aims to create long-term value by providing transparent and reliable services to farmers and urban clients, positioning itself as a major agricultural sales service network [1] - The "Wozhong Tian" initiative, launched in 2022, involves direct farming and sales to develop a suitable model for Chinese farmers, promoting standardization and competitiveness of Chinese agricultural products [1] - The company plans to expand its international business by replicating its app and services in more countries, aligning with its mission to enhance the value of every acre of land [2] Summary by Categories Business Strategy - Yimudian is transitioning from an information matching platform to a "content + matching" platform, focusing on AI enhancements in user interactions [1] - The "Wolai Cai" initiative is designed to support farmers by ensuring fair pricing and transparent services, aiming to become the largest agricultural sales service network in China [1] Product Development - The company is enhancing its app functionalities to improve user experience and service efficiency through comprehensive AI integration [1] - The "Wozhong Tian" project aims to explore and establish a farming model that can be replicated to increase the standardization and marketability of Chinese agricultural products [1] International Expansion - Yimudian is committed to expanding its international presence by implementing its business model and services in various countries, reinforcing its mission of maximizing land value [2]

Core Viewpoint - The establishment of the Jiangxia headquarters by Yimuyuan Group marks a significant step following its listing on the US stock market, aiming to leverage its 14 years of experience in agricultural digitalization to create a model for high-quality rural industrial development in the region [1][3]. Group 1: Company Overview - Yimuyuan Group has been deeply engaged in the agricultural digitalization sector for 14 years, creating a comprehensive service system that integrates online and offline, matching and trading, technology and planting, as well as domestic and international operations [2]. - The Yimuyuan APP currently serves over 56 million agricultural B-end users across more than 2,800 counties, making it the largest B2B digital service platform for agricultural products in China [2]. Group 2: Strategic Initiatives - The Jiangxia headquarters will utilize core businesses such as "Wozhongtian" and "Wolai Cai" to support the high-standard and high-quality development of Jiangxia's agricultural tertiary industry [3]. - The "Wozhongtian" digital large-scale planting base will promote standardized production of local agricultural products, while "Wolai Cai" will facilitate direct sourcing services, connecting Jiangxia's agricultural products to national markets [3]. Group 3: Investment and Collaboration - Yimuyuan Group has committed over 1 billion yuan to the establishment of the Jiangxia Agricultural Product Trading Center headquarters industrial park, reflecting a strong investment confidence in the region's advantages and service capabilities [1][3]. - The collaboration between Yimuyuan and Jiangxia aims to enhance the competitiveness of rural industrial development and economic growth, with the local government pledging to provide robust support for a favorable business environment [1].

Core Viewpoint - Yimutian, China's largest agricultural B2B platform, officially listed on NASDAQ on August 19, 2023, marking the first appearance of a Chinese agricultural internet enterprise on the global capital market [1][3]. Company Overview - Yimutian has been deeply engaged in the Chinese agricultural market for 14 years, establishing a comprehensive ecosystem centered around a digital platform that covers production, circulation, and transaction matching [3]. - The company issued 5.01 million American Depositary Shares (ADS) at an initial price of $4.10 per share, with the stock opening at $5.88, a 43.41% increase on the first day [3][4]. Financial Performance - On the first day of trading, Yimutian's stock reached a high of $6.05 but closed at $2.80, a 31.71% drop, giving the company a market capitalization of approximately $320 million (about 2.298 billion RMB) [4]. - The IPO raised approximately $20.54 million, which will be used to expand the offline "Wolai Cai" agricultural brokerage service network and enhance service processes [5]. - In 2024, Yimutian is projected to generate revenue of 161.32 million RMB, with digital agricultural business services accounting for 94.6% of total revenue [5][6]. Market Potential - The scale of China's agricultural procurement and trading market reached 2.2 trillion RMB in 2023 and is expected to grow to 3.0 trillion RMB by 2028 [9]. - If Yimutian captures 2% of the market, its potential transaction volume could reach 60 billion RMB by 2028, indicating significant growth potential [9]. Business Model - Yimutian operates similarly to real estate platforms by connecting a large network of brokers to facilitate transactions in the agricultural market, which is valued in the trillions [9]. - The company enhances market transparency through information technology, implementing a dual revenue model from transaction facilitation and platform service fees [9]. Leadership and Control - Founder Deng Jinhong holds 17.77% of the shares and 74.91% of the voting rights post-IPO, maintaining strategic control over the company [11][12]. Historical Context - Yimutian was founded in 2011 by Deng Jinhong, who identified the potential in the rural market after working on a rural information project at Baidu [16][18]. - The company initially focused on providing agricultural price information and has since evolved into a comprehensive trading platform [20][29]. Future Outlook - Yimutian aims to deepen its services for agricultural brokers and promote the digitalization of Chinese agriculture while expanding internationally [35]. - The company plans to establish a digital bridge for agricultural trade, covering over 50 countries and regions globally [34][35].

Core Viewpoint - Yimutian, a digital agriculture service company, has become the first Chinese agricultural internet enterprise to be listed on NASDAQ, highlighting its unique position in the global capital market [1] Group 1: Industry Context - China's agricultural sector faces challenges such as production fragmentation and inefficient circulation, with 98% of farmers managing 70% of the land and an average of 0.5 acres per person [3] - The founder's vision for Yimutian is to leverage digital solutions to streamline the entire agricultural supply chain [4] Group 2: Company Development - Yimutian's journey began with the launch of its app in 2011, initially focusing on B2B transactions to address information asymmetry between farmers and buyers [5] - The company has expanded its services to include procurement, logistics, digital planting bases, and AI marketing, creating a comprehensive digital service model for the agricultural supply chain [5] - By the end of 2024, Yimutian aims to cover 56 million agricultural businesses and has built a vast database of procurement resources and market data [5] Group 3: Business Model and Financials - Yimutian's revenue model is distinct from traditional internet platforms, with 94.7% of its revenue in 2024 coming from digital agricultural business services [10] - The company has achieved a gross margin of over 80%, with a revenue of 161 million yuan in 2024, reflecting a 7.3 percentage point increase from 2023 [10][11] - Yimutian's operational model minimizes heavy asset costs, focusing on technology development and service network expansion [11] Group 4: Market Potential - The total value of China's primary agricultural product circulation reached 9 trillion yuan in 2023, with a theoretical commission market space of 450 billion yuan based on a 5% commission rate [7] - The digital agriculture B2B service market in China is projected to grow significantly, with a compound annual growth rate of 37.6% expected from 2024 to 2029 [12] Group 5: Global Strategy - Yimutian is expanding its international operations, aiming to integrate global agricultural resources and provide high-quality products to consumers worldwide [13] - The company plans to replicate its successful model of integrating agents and standardized services in international markets, particularly in regions like Southeast Asia and Africa [15] Group 6: Competitive Advantage - Yimutian's competitive edge lies in its established "data + users + services" barrier and its deep understanding of the agricultural industry [15] - The company is positioned to benefit from the increasing digitalization of agriculture, with a focus on meeting the practical needs of farmers and agents [16]

Core Viewpoint - Yimutian Group, a leading agricultural B2B digital service company in China, has officially listed on the NASDAQ, becoming the first agricultural internet enterprise from China to cover the entire industry chain globally [1][6]. Summary by Sections IPO Details - Yimutian issued 4.522 million ADS at a price of $4.1 per share, with an overall fundraising target of approximately $22 million if the underwriters fully exercise their over-allotment option of 488,000 shares [3]. Fund Utilization - The funds raised will primarily be used to expand the offline "Wolai Cai" agricultural brokerage service network, streamline the agricultural brokerage service processes, and promote international business [4]. Market Position and Services - Yimutian has served over 56 million agricultural businesses and is the largest agricultural B2B platform in mainland China, focusing on solving farmers' selling issues and providing transaction matching services [4][5]. - The company aims to integrate over one million agricultural brokers in China, addressing the low organizational level and lack of industry standards in the agricultural brokerage sector [5]. Market Potential - The total value of primary agricultural product circulation in China reached 9 trillion RMB in 2023, with a commission scale of approximately 450 billion RMB, indicating significant market opportunities for Yimutian's "Wolai Cai" service [5]. Global Expansion Strategy - Yimutian is set to initiate a global digital agriculture operation, leveraging its international operation center established in Hong Kong to enhance overseas planting, international trade, and foreign investment [8][10]. - The company aims to connect domestic and international markets, providing a comprehensive supply network for agricultural products across over 50 countries [8]. Future Vision - Yimutian plans to deepen its involvement in global agricultural trade and production, utilizing innovative technologies to drive global agricultural development [11]. - The listing reflects global market interest in China's rural revitalization and digital agricultural development, opening new avenues for global investors to engage in China's agricultural digitalization opportunities [11].