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Public company info - National Agricultural Holdings Ltd. , 01236.HK

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National Agricultural Holdings Ltd., 01236.HK - Company Profile
Chairman Ma Zhaohui
Share Issued (share) 2,123,000,000
Par Currency Hong Kong Dollar
Par Value 0.025
Industry System Applications & IT Consulting
Corporate Profile Business Summary: The principal activities of the Group are research,development and distribution of software and provision of related maintenance, usage and informationservices、finance leasing and operating commodities trading platform. Performance for the year: Revenue for the year ended 31 December 2015 increased by 37% to RMB159,876,000 (2014:RMB116,767,000) Loss attributable to owners of the Company for the year ended 31 December 2015 was RMB607,921,000 (2014: RMB32,759,000) Basic and diluted loss per share was RMB33.82 cents (2014: Basic and diluted loss per share of RMB2.47 cents) Business Review: Macro-economy and the Group’s Strategic Direction With China entering a “new normal” phase, its economy remained stable with smooth growth, a more optimized structure, deepened reform and opening, improved living standards and overall stable society in 2015, achieving year-on-year GDP growth of 6.9%. During the year under review, China continued to support the development of “agriculture, rural areas and farmers”. The central government issued Document No.1, in which it reinforced its focus on the “agriculture, rural areas and farmers” sector for the 13th consecutive year, emphasizing more efforts in benefiting the farmers, deepening various reforms in rural areas and promoting the modernization of agriculture as well as the launch of a series of favorable policies to speed up the development of the e-commerce of supply and marketing cooperatives. During the year under review, riding on the Chinese government’s policies, the Group’s business roadmap plan in developing the internet finance industry chain was becoming clearer. The Group’s two major platforms serving the “agriculture, rural areas and farmers” sector, namely the Agripay and the China Agriculture Commercial Exchange, achieved sound progress,facilitating the steady growth of the Group’s three major businesses, namely “Rural Financial Services”, “Trading in Agricultural Means of Production” and “Urbanization Planning, Operating and Managing”. Rural Financial Services In May 2015, the Group entered into a business cooperation agreement with Dalian Renewable Energy Exchange Company Limited under the China Co-Op Group, pursuant to which the funds of the Group was moved to the Agripay system and the Group will be in charge of the management, operation and settlement of the funds for operation and trading on the trading platform of the Dalian Renewable Energy Exchange. The business cooperation would further strengthen the layout of the internet finance industry chain of the Group and reflect that the Agripay system was favoured by the domestic large enterprises. In addition, the Group entered into a cooperation agreement in relation to cash management services with the Agricultural Bank of China Limited in November 2015, pursuant to which, the Agricultural Bank of China would provide cash management related financial products and services to satisfy the capital and settlement needs of the Agripay system, a cash settlement system, of the Group. This again was cooperation with a high-quality third party after the Company cooperated with Dalian Renewable Energy Exchange and Innovationpay, so as to further enhance the development of the Agripay system. Such cooperation would help solidifying the layout of the internet finance industry chain of the Company, and the Company, as a leading enterprise with the only overseas-listed capital platform within the supply and marketing cooperative system, committed to serve the “agriculture, rural areas and farmers” industry for strengthening the rural financial services segment of the Company while leveraging the reform of the supply and marketing cooperatives. During the period under review, the Group completed the system upgrading of its Agripay system, a cash settlement platform. The Agripay 2.0 system had its cash management function further optimized and may allocate funds to the system users according to the utilization and repayment status of funds of the users. This function would further facilitate the trading between buyers and sellers in the China Agricultural Trading Platform. The system upgrading would further broaden the user base and expand the business across the country. Trading in Agricultural Means of Production In order to implement the strategy for the complete industry chain in agricultural means of production, the Group entered into a cooperation framework agreement with Guangzhou Exchange Group in 2014, to cooperate in the development and operation of a trading platform for agricultural products. During the year under review, in January 2015, the Group announced the signing of a strategic cooperation agreement with the Beijing branch of PICC Property and Casualty Company Limited to launch a variety of insurance products and other valueadded services for the agricultural-related industry, such as property insurance for agricultural means of products storage insurance, agricultural machinery property insurance, corporate and personal loan guarantee insurance, credit insurance, rural housing insurance, accident insurance and agricultural insurance through the agricultural trading platform. The launch of these services would help transform the platform into an e-commerce platform for bulk commodities incorporating the functions of trading, financing, insurance, storage logistics and settlement for agricultural products. On 28 January 2015, the China Agricultural Trading Platform officially commenced operation. The first batch of products, chemical fertilizers, was launched for trading, with trading volume of than RMB200 million in the first day, representing that the strategic deployment of the Company in the segment of trading in agricultural means of production entered into the stage of entity operation. As more and more agricultural companies participated in and traded through the trading platform, the Company planned to gradually expand the platform into the whole country and the Southeast Asian market. During the period under review, the Group completed the upgrading of the 2.0 system of the China Agricultural Trading Platform. It is worth mentioning that, the report published by the International Cooperation Center of the National Development and Reform Commission pointed out that the China Agricultural Trading Platform was the most promising agricultural trading platform with international pricing power, reflecting that the business model of the Company is well recognized with huge potential. In addition, the Group planned to acquire Shanghai Trans-National Procurement-Center and its related property at a consideration of RMB2,685 million in January 2016. Shanghai Trans- National Procurement Center is the designated international merchandising trading platform under the policy of “One Belt One Road”. Leveraging the various advantages of Shanghai Trans-National Procurement Center, the Company expects the center can provide an ideal venue for achieving the comprehensive functions of the agricultural trading platform of the Group and seeks to develop the center into the exhibition center, trading center and big data collection center for the agricultural trading platform for processing, categorizing and using the transaction information of various industry peers, including important information such as transaction records and behavior, so as to improve the agricultural trading business of the Group as well as strengthen the layout of the internet finance industry chain of the Group. The acquisition and settling down of the agricultural trading platform in Shanghai by the Company sets off the expansion of the agricultural trading platform of the Company into the developed coastal cities in China while the international agricultural trading business will be developed leveraging the natural advantage of Shanghai as a foreign trading port. Urbanization Planning, Operating and Managing The progress made in domestic industrialization, informatization, urbanization and agricultural modernization has continued to hasten the development of rural land property rights transfer, which is a key to the development of “agriculture, rural areas and farmers”. In light of such circumstances, the Group entered into a cooperation framework agreement with Guangdong Agricultural Means of Production Company Corporation (廣東省農業生產資料總公司) in May 2015, pursuant to which the Company made capital contribution to Guangdong New Co- Op Skyrise Investment Co., Ltd. (廣東新供銷天成投資有限公司) and acquired 45% of the enlarged equity interests in the Guangdong New Co-Op. On the one hand, such acquisition facilitated the deepening reform of the companies under the Guangdong Supply and Marketing Cooperative (廣東省供銷合作聯社) so as to further optimize the shareholding structure, promote the innovation on management and system, improve expansion and development capabilities and enhance economic efficiency. On the other hand, such acquisition reflected the business layout of the Company expanded from northern China to southern China and actively expanded across the country. The participation of Guangdong New Co-Op further optimized the layout in “internet finance industry chain” and consolidated and optimized the quality assets within the national supply and marketing system, bringing better synergy to various parties. The Group will continue to work in line with such national policies, and together with its partners, proactively explore business opportunities in respect of rural land property rights. Prospects: The Document No. 1 of the central government has focused on the “agriculture, rural areas and farmers” sector for thirteen consecutive years, whilst the “Decisions on Deepening Comprehensive Reform of the Supply and Marketing Cooperatives” (關於深化供銷 合作社綜合改革的決定) promulgated by the State Council on 2 April 2015 proposes guidance opinions on the participation of supply and marketing cooperatives in rural financial development. It is expected that the potential in the rural financial industry will be intensely explored in the coming few years, and this will provide valuable development opportunity for supply and marketing cooperatives. As the only overseas-listed capital platform in the system of demand and supply cooperatives, the Group will utilize its advantages in its own capital, platform and channels, undertake its responsibilities in expanding trading channels in agroproducts, thus ensuring the quality and efficiency of trading in agro-products and enhancing the allocation system of funds of trading in agro-products, and keep on improving the scale and efficiency of the Group during the in-depth cultivation of the industry chain, supply chain and capital chain for “agriculture, rural areas and farmers”. As for rural financial services, the Group will continue to strengthen the function of Agripay (農匯通) capital management system in the future, especially the function of online capital allocation, so as to utilize the Group’s unique advantage in capital consolidation by matching up the low-cost capital with the huge financing demand from rural areas and open up the capital barrier of the supply chain of trading in agricultural means of production. At the same time, in respect of finance leasing, the Group will utilize China Coop Mengda’s advantages in the specialized field of “agriculture, rural areas and farmers” and further expand the financing channels of rural production companies and farmers production equipment. In addition, with respect to the overall layout of rural financial services, the Group will improve its depth and profitability of its participation in rural financial services by various measures, such as development of mutual cooperation of rural capital, commencement of mutual insurance, establishment of mergers funds of “agriculture, rural areas and farmers” industry and investment in banks targeting at “agriculture, rural areas and farmers” clients. With regard to trading in agricultural means of production, the China Agricultural Trading Platform will enrich the varieties for online trading and attract more traders through in-depth cooperation with supply and demand cooperatives and rural capital in different provinces in the future. Meanwhile, the value-added services such as finance and logistics will be constantly enhanced so as to develop the China Agricultural Trading Platform into a commodity e-trading platform with integrated functions of trading, financing, insurance, warehousing, logistics and settlement for trading in agro-products. At the same time, with support from a series of national policy such as One Belt One Road and RMB internationalization, the China Agricultural Trading Platform will adhere to the direction of internationalization. Through cooperation with Guangzhou Commodity Exchange and Dalian Renewable Energy Exchange, acquisition of the Shanghai Trans-National Procurement Center and cooperation with well-established foreign exchanges and trading markets, the China Agricultural Trading Platform will actually become a distinctive cross-border e-commerce platform for the export and import of agro-products.

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