SZAP(SZ:000061)2025-06-09 11:56Group 1: Company Overview and Competitive Advantages - The company has invested in 35 physical agricultural product logistics parks across over 20 major cities in China, forming the largest wholesale market network in the country [1] - The company provides a comprehensive "one-stop" service for the agricultural product supply chain, integrating domestic and international resources [2] - The company has a strong position in the wholesale market, which remains the main channel for agricultural product distribution [2] Group 2: Business Development and Revenue Growth - The urban food ingredient distribution business has seen a revenue increase of approximately 19% year-on-year in 2024 [2] - The company is actively expanding its market presence in regions such as Chengdu, Shanghai, and Guangzhou, establishing key distribution hubs [3] - Overall operating income has improved in various regions, with notable growth in markets like Changsha, Huizhou, and Shenzhen [4] Group 3: Profitability and Financial Performance - The net profit for Guangxi Haijixing reached approximately 71.76 million yuan, a year-on-year increase of 12.18% [4] - The company distributed cash dividends of 0.70 yuan per 10 shares in 2024, totaling approximately 118.79 million yuan [4] - The company anticipates a reduction in its debt-to-asset ratio by about 5 percentage points due to a planned stock issuance [5] Group 4: Future Opportunities and Challenges - The company aims to enhance its core competitiveness and risk management capabilities in response to market demand fluctuations and intensified competition [5] - The national emphasis on agricultural product circulation system construction presents significant opportunities for growth [5] - The company focuses on refining operations in key markets such as Shenzhen, Chengdu, and Shanghai, leveraging digital upgrades and service enhancements [5]