SZAP(SZ:000061)2025-11-21 12:57Group 1: Company Overview - The company 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, forming the largest wholesale market network for agricultural products in the country [1] - The average annual trading volume of the company's wholesale markets exceeds 33 million tons, with an average annual transaction value exceeding 250 billion yuan [1] - The company's business scope includes standardized base planting, cold chain processing, wholesale market construction and operation, urban ingredient distribution, brand development, and import-export trade [1] Group 2: Competitive Advantages - After 36 years of development, the company has extensive experience in operating wholesale markets and a strong management talent pool [2] - The company integrates global partner resources and provides a one-stop service for the entire agricultural product supply chain, including wholesale trading venues, food safety testing, and brand cultivation [2] Group 3: Impact of New Retail Formats - The development of online new retail formats complements and collaborates with the wholesale market, creating an efficient supply chain linkage [3] - The company is enhancing its service capabilities through digital and intelligent tools, reinforcing its role as a core hub in the supply chain [4] Group 4: Revenue Enhancement Strategies - The company aims to improve transaction efficiency in the agricultural product circulation sector by accelerating project development and optimizing market layouts [4] - It plans to expand its business around the wholesale market, including supply chain connections, ingredient distribution, and brand development [4] Group 5: Market Management and Pricing - Revenue from the company's wholesale market management primarily comes from rent, commissions, management fees, and parking fees, with pricing based on market conditions and local economic factors [4] Group 6: Network Expansion Initiatives - The company is enhancing its national network by advancing key projects and promoting multi-regional collaboration [5] - New projects are being developed in strategic areas, including Shanghai, Chengdu, and Guangzhou, while older markets may undergo relocation or upgrades [7] Group 7: Base Operations and Supply Chain - The company has established cooperative relationships with approximately 10,000 acres of planting bases across multiple provinces, focusing on high-quality product cultivation [9] - It is actively developing the "Deep Farm" initiative to integrate agricultural production with rural revitalization [9] Group 8: Urban Ingredient Distribution - The company has expanded its ingredient distribution business, establishing 21 branches in major cities and covering various regions [9] - It aims to enhance food safety management capabilities and has been recognized for its quality management [9] Group 9: Digital Transformation - The company is leveraging big data, IoT, and cloud computing to enhance its digital operations and accelerate transformation [9] - Initiatives include the implementation of a unified transaction system and the launch of a price collection and release platform to improve market transparency [9]