Palm(SZ:002431)2024-12-30 13:26Group 1: Company Overview and Market Context - The Ministry of Agriculture and Rural Affairs aims to establish 1.075 billion mu of high-standard farmland by 2025 and 1.2 billion mu by 2030, with 280 million mu to be upgraded [2] - The Henan Provincial Government plans to create 19.29 million mu of new high-standard farmland and upgrade 10.07 million mu during the 14th Five-Year Plan [2] - The average investment per mu for high-standard farmland is expected to reach around 3,000 yuan, with new projects requiring at least 4,000 yuan per mu [8] Group 2: Financial Support and Investment - In April 2023, the central government's subsidy for high-standard farmland construction increased from 1,300 yuan to 2,400 yuan per mu, accelerating nationwide construction [8] - The company has secured 15 high-standard farmland construction projects with a total investment of over 2 billion yuan, covering more than 920,000 mu [8] Group 3: Business Model and Operational Strategy - The company employs an integrated model of investment, financing, construction, operation, and management for high-standard farmland projects [9] - The company acts as the EPC contractor, ensuring stable project growth and cash flow through a comprehensive service chain [9] - The operational entity provides full-chain services, enhancing agricultural resource concentration and improving product yield and quality [9] Group 4: Competitive Advantages - The company offers a full industry chain service from financing to operation, providing one-stop solutions for clients [10] - With over 900,000 mu of construction orders, the company has significant experience and market demand in Henan, a major agricultural province [10] - The company collaborates with agricultural institutions to enhance technology and efficiency in high-standard farmland construction [11]