On the morning of July 5, Chibi Shenshan Xingnong Technology Co., Ltd. held a ceremony in Chibi city, Hubei to celebrate the launch of its IPO in the Singapore Exchange. Shenshan Xingnong is the first agricultural company in Hubei Province to become listed overseas, and is also the first company in China in the kiwifruit industry to release an IPO on the main board. The successful launch has filled the gap in the capital market of China’s kiwifruit industry and also marked the start of the agricultural industry in Hubei entering the international capital market.
In recent years, the consumption demand for kiwifruit has continued to increase. China now has the largest kiwifruit production in the world, accounting for about 50% of the global production. However, the local industry is still in its infancy in terms of breeding, fresh-keeping, and processing, and is still behind some more advanced producers.
"At present, Chibi has a planted area of 62,000 mu. This has given more than 15,000 growers employment, and the per capita annual income has increased by more than 8,000 yuan." Yang Kunming, director of the Chibi City Agriculture and Rural Bureau, introduced. In order to allow more people to benefit from the development of the industry, Chibi Green Investment, a local state-owned enterprise of the city, will also invest 150 million yuan to support Shenshan Xingnong Technology to build a new growing center and develop deep processing.
In recent years, the city has accelerated the development of the kiwifruit industry focusing on high-quality fruits, and established an entire chain of industry standards starting from the growing process. In addition, by increasing publicity, the Chibi brand has gradually been built.
In the next 5 to 10 years, the city is planning to expand its planted area to 80,000 to 100,000 mu and build up it’s reputation as a first-rate production area in China in terms of size, quality, and efficiency.
Source: Jimu News
