Agricultural SOE's revenue exceeds 10b yuan in first 10 months

State-owned Guiyang Agricultural Investment Group in Guiyang, capital city of Southwest China's Guizhou province, achieved a revenue of 10.6 billion yuan ($1.46 billion) in the first 10 months of this year.

This outstanding performance is a result of the group's strong presence in the modern seed industry, agricultural product processing, and market distribution, creating seven complete industrial chains in dairy, grains and oils, chili, livestock and poultry, eco-fishery, pre-prepared vegetables, and traditional Chinese medicinal materials.

Breaking ground in the modern seed industry

The group has successfully produced grafted chili seedlings, rewriting the history of Guiyang's vegetable grafting seedlings, which were previously purchased from other provinces. Through space breeding on the Shenzhou-12 mission, the "Nongtou 1" and "Nongtou 2" morchella esculenta strains achieved a yield of 480 kilograms per mu (0.07 hectares), a 140-percent increase over conventional varieties.

Expanding agricultural product processing

The group primarily focuses on the processing of dairy products, grain, and meat products. Its subsidiary, Guizhou Southern Dairy Co, has a sales and distribution network covering 88 districts and counties within the province and extending to Sichuan, Yunnan and other provinces.

Vitalizing market distribution

From January to September this year, the group's Huimin Fresh Supermarkets collectively purchased 21,236 metric tons of local vegetables, increasing farmers' incomes. They then provided these vegetables to residents at prices 25 percent lower than daily market prices.

Throughout this year, the group's various vegetable plantations have collectively distributed 83.95 million yuan in dividends to village collectives and farmers, benefiting 101,470 farmers.