China's largest agricultural B2B platform, "Yimutian", lists on the NASDAQ | Latest Frontline News
36Kr learned that on the evening of August 19th, Beijing time, Yimutian Group (Yimutian, stock code: YMT), a leading Chinese agricultural B2B digital agricultural service enterprise, was officially listed on the NASDAQ Stock Exchange in the United States, becoming the first Chinese agricultural full - industry - chain Internet enterprise in the global capital market.
Yimutian issued 4.522 million ADSs in this IPO at an issue price of $4.1 per share. In addition, the underwriters have an over - allotment option of 488,000 shares. If fully exercised, Yimutian will raise approximately $22 million in this IPO.
According to the prospectus, the funds raised in this round will mainly be used to continue expanding the offline "Wolaicai" agricultural product brokerage service network, sorting out and designing the comprehensive agricultural product brokerage service processes and systems, and fully promoting international - related businesses.
From its establishment 14 years ago to its listing, Yimutian has received investments from well - known domestic and international institutions such as Sequoia Capital China, Yunfeng Capital, Huachuang Capital, Source Code Capital, and DST.
Yimutian entered the agricultural product circulation field through a digital platform. Focusing on solving the problem of farmers' "selling goods", it provides transaction matching services for agricultural product brokers and wholesalers in urban areas. To date, Yimutian has served more than 56 million agricultural business people, covering the entire industrial chain of agricultural production and circulation. The prospectus shows that based on the revenue and the number of monthly active merchants in 2024, Yimutian is the largest agricultural B2B platform in mainland China.
Agricultural product brokers are the main service group of Yimutian. To date, more than 6 million people in China are engaged in the profession of agricultural brokers. In the past, the individual - based agricultural product brokerage industry also had problems such as low organizational level, lack of industry norms, and lack of credit constraints. Therefore, in 2024, Yimutian launched the "Wolaicai" agricultural product chain brokerage service and has built dozens of outlets in some major agricultural product producing areas in China. In the way of an "agricultural Lianjia", it provides standardized services and unified after - sales guarantees for purchasers.
In addition, Yimutian is also opening up the global operation map of digital agriculture. Not long ago, Yimutian established an international operation center in Hong Kong, taking overseas planting, international trade, and foreign investment as the three major directions. By deeply integrating global agricultural resources, it provides agricultural products for global consumers.
Deng Jinhong, the founder of Yimutian, said, "The best entrepreneurial opportunities in China lie in the vast rural areas. Taking the listing as a new starting point, Yimutian will continue to deepen the service for agricultural product brokers, promote the digitalization process of Chinese agriculture, and at the same time, look at the world and fully explore international business to shoulder the greater mission and responsibility of making every acre of farmland in the world more valuable."