NOPOSION(SZ:002215)2025-04-27 08:22Group 1: Financial Performance - In 2024, the company achieved a significant profit increase, reaching 580 million with an operating cash flow of 1.3 billion [1] - For Q1 2025, the profit was 627 million, contributing nearly 300 million in positive operating cash flow [1] - The overall expected blueberry harvest for the season is over 40,000 tons [1] Group 2: Market and Sales Strategy - The domestic blueberry market is expected to remain stable, with prices around 90,000 per ton before the Spring Festival, indicating a supply-demand imbalance [3] - The company focuses on two main brands: "Love Berry Farm" and "Misty Blue," while expanding sales through key accounts like JD.com and Hema [2] - The KA channel now accounts for over 30% of total shipments, with distributors making up nearly 50% [8] Group 3: Production and Yield - The yield per mu is projected to increase from 1.3 tons in the 2023/2024 season to over 1.4 tons in the 2024/2025 season due to improved agricultural techniques [4] - The large fruit rate (fruit diameter over 18mm) is estimated to be close to 70% for the upcoming season [5] - The company aims for an average yield of over 1.5 tons per mu in the 2025/2026 season [11] Group 4: Cost Management and Future Outlook - The company anticipates a slight increase in costs due to enhanced quality in harvesting and processing, but aims for further cost reductions in the future [9] - The company has established 14 large processing centers to support operations, which is expected to improve efficiency [9] - The overall strategy includes enhancing product quality and deepening customer relationships to drive growth in the pesticide business [12] Group 5: Land and Expansion Plans - Currently, the company has approximately 56,000 mu of land, with plans to invest in 35,000 to 40,000 mu for the 2025/2026 season [10] - The company faces challenges in acquiring quality land, which will influence its long-term land acquisition strategy [10]