Annual report series of special analysis by consumer companies (6): Yihe Agricultural Products (430225): Fruit and vegetable cross-border e-commerce leader’s performance continues to grow steadily

Annual report series of special analysis by consumer companies (6): Yihe Agricultural Products (430225): Fruit and vegetable cross-border e-commerce leader’s performance continues to grow steadily

Event: The company released its 2018 annual report and achieved total operating revenue of 21.

83 trillion, 38 a year ago.

90%, net profit is 1.

59 trillion, 重庆夜生活网 54 a year ago.

47%.

Leading fruit and vegetable cross-border e-commerce leader to build a cross-border fresh food trade service platform: The company’s main business is the domestic bulk agricultural product whole industry chain operation and fresh food cross-border trade and supply chain services. It is committed to allowing Chinese consumers to 厦门夜网 obtain high-quality, safe domestic and overseas products, Delicious fruit meat, seafood and other products.

The trade of fresh products mainly includes imported meat and other related foods, imported fruits, domestic fruits and vegetables; in terms of supply chain platform services, Shanghai Yihe Food International Trade Co., Ltd., a wholly-owned subsidiary,One of the company’s offline partners, specializing in providing cross-border online shopping offline comprehensive services.

The first-mover advantage is obvious, and the qualification fully meets the diversified needs: In terms of cross-border trade services of imported fruits and other fresh foods, the company has obvious first-mover advantages, which are mainly reflected in: 1) The company is currently the only one in the Shanghai Free Trade Zone.Collected all kinds of fruits, meat, aquatic products and food in the cold storage of the country, allowing companies in the compulsory free trade area to import fresh whole-category business; 2) The company is a minority of free trade areas that have filed and docked with the importers of imported meat products.Meat food traceability system and obtained relevant food business licenses, allowing enterprises to import and sell military meat products; 3) The company is the first batch of companies to obtain the classification status of goods in special supervision areas, which can meet the diversification of platform customersdemand.

Platform resources are gathered and synergies are increasing sharply: The company’s establishment of a cross-border fresh food trade service platform has achieved outstanding results in its services in the cross-border fresh trade division.

Among them, high-quality professional service providers in major regions have settled on the platform. The platform has outstanding trading capabilities and can clear goods in time through the platform. The platform provides diversified international settlement services and integration of information management systems.

The synergy of the platform has increased dramatically, forming a unique set of costs, certain services, and a set of advantages for rapid circulation.

The company has transformed from a single agricultural product production and sales business model to a traditional business centered on the entire agricultural product industrial chain and a business model of fresh food cross-border trade business relying on free trade zones.

In 2018, the company achieved total operating revenue of 21.

83 trillion, 38 a year ago.

90%.

Complete the strategic resource layout of high-quality products from multiple sources and open up the upstream and downstream transaction chains: The company completed the strategic resource layout of multiple high-quality products from sources in the report, and signed contracts with various large overseas factories such as Brazil, New Zealand, Sweden, Uruguay, and IrelandCooperation.

The company has developed a variety of high-quality customers such as large-scale meat processing plants and national chain catering companies, while diversifying its cross-border fresh product categories to meet the needs of a diversified market.Strategic cooperation transaction chain to downstream terminal sales channels.

While expanding the scale of operations, the company further strengthened its cooperation with domestic fresh supermarkets to support various fast-moving consumer goods.

Investment suggestion: The company is a leader in fruit and vegetable cross-border e-commerce, and its performance has grown steadily in recent years.

The latest market value is 12.

44 trillion, corresponding to 7.

8X, it is recommended to pay attention.

Risk reminder: management risks brought by the expansion of the company’s scale; risks of purchasing agricultural products due to major natural disasters