Sydney, Mar 16, 2017 AEST (ABN Newswire) - Jiajiafu Modern Agriculture Ltd (
ASX:JJF) ("JJF" or "the Company") is listed on Australian Stock Exchange March, 2017.
JJF operates a leading agribusiness in Qingzhou City, Shandong Province, China, renowned for its vertically-integrated business model and agricultural technology innovation in relation to fruit and vegetable farming, harvesting, packing, marketing, supply and distribution. The Group's main products include fresh produce such as tomatoes, cucumbers, eggplants, chillies, radishes, potatoes and yams, and processed food products such as dandelion tea, pumpkin powder and dried persimmons.
Since the establishment of the Group, the Company has built a mature and stable, yet competitive business model, established a famous and trustworthy agribusiness locally, recruited an experienced management team and technical personnel, developed a comprehensive internal quality process and quality control system, and organised its agricultural activity in accordance with European Union and Chinese national standards on organic vegetable production processes. In the past three financial years to 31 December 2015, the Company has recorded a Compound Annual Growth Rate on revenues of 17.6%, and Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) of A$2.2 million in FY 2015 and A$1.9 million in 1H2016.
The Company operates in an industry that receives favourable treatment from the Chinese government in policy and tax terms. The Chinese government has released two regulatory guidance papers concerning bank loans using agricultural land use rights and farmers' residential land as security, which creates more options for agribusinesses and farmers seeking bank loans. These policies allow agribusinesses to expand the scale of their operations and improve the profitability of their businesses. Also, as the China-Australia Free Trade Agreement signed in December 2015 comes into effect, increased collaboration between China and Australia on the development of agricultural processes and technology, bilateral trade and economic exchanges, the Company has identified new opportunities to explore and challenges to face.
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About Jiajiafu Modern Agriculture Ltd
Jiajiafu Modern Agriculture Ltd (ASX:JJF) was incorporated in Victoria, Australia on 24 August 2015 as the holding company of the Group. Its main business is operated by Qingzhou Jiajiafu Modern Agricultural Development Co., Ltd. (JJF China), a wholly owned subsidiary of the Company.
JJF Group operates a leading agribusiness in Qingzhou City, Shandong Province, China, renowned for its vertically-integrated business model and agricultural technology innovation in relation to fruit and vegetable farming, harvesting, packing, marketing, supply and distribution. The Group's main products include fresh produce such as tomatoes, cucumbers, eggplants, chillies, radishes, potatoes and yams, and processed food products such as dandelion tea, pumpkin powder and dried persimmons. JJF agricultural products have passed EU organic food certification of 17 varieties, the national organic food certification of 11 varieties, and national green food certification of 23 varieties.
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