Good News on Listing | Frost & Sullivan Assists Beijing Yimu Tian Xin Nong Network Technology Co., Ltd. in Successfully Going Public in the US (YMT:NASDAQ)

Beijing Yimutian New Agriculture Network Technology Co., Ltd. (hereinafter referred to as 'Yimutian') successfully listed on NASDAQ in the United States on August 19, 2025. Yimutian issued 4.522 million American Depository Shares (ADS) in this IPO, with the underwriter having an additional option for an over-allotment of 488,000 ADSs. Calculated at an issue price of $4.1 per share, Yimutian could raise up to approximately $22 million through this IPO (after exercising the 'green shoe').

During the process of listing in the US, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing the writing of relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important sections), helping the issuer communicate with the SEC and investors, assisting investors in quickly understanding the market ecosystem and competitive landscape, and providing feedback on various industry-related issues from regulatory authorities to the issuer.

• The company is the largest B2B platform for agricultural products in Mainland China;

• The company is a comprehensive digital agricultural product enterprise covering the entire agricultural product industry chain;

• The company has served over 56 million users in total;

• The company has covered more than 340 cities and over 2,800 counties in Mainland China, accounting for over 65% of the primary and secondary agricultural product wholesale markets in the country;

• The company has established a wide market influence among Chinese agricultural product brokers.

According to the Frost & Sullivan report, ranked by 2024 revenue and number of monthly active merchants:

• Ranked first among B2B platforms for agricultural products in the Chinese mainland.

Driven by multiple favorable factors such as the widespread application of agricultural machinery, information technology aiding in enhancing resilience against natural disasters, continuous construction of road infrastructure, and the continuous development of e-commerce business, the efficiency of agricultural production and circulation in China has significantly improved, with strong momentum for growth. At the same time, the total value of agricultural product circulation in China has maintained steady growth in recent years, reaching 5.5 trillion yuan in 2024, with an average annual compound growth rate of 4.6%. Looking ahead, in addition to the aforementioned favorable factors, supportive policies will further promote the construction of the agricultural product logistics system. It is expected that by 2029, the total value of agricultural product circulation in China will grow to 7.5 trillion yuan, with an average annual compound growth rate of 7.0% from 2024 to 2029.

China's Agricultural Product Circulation Scale, 2020 - 2029 (Forecast)

Data source: Analysis by Frost & Sullivan

With the continuous progress of emerging technologies such as mobile internet, e-commerce, and digital payments, as well as the support of multiple favorable policies, China's agricultural product industry has continued to develop. B2B platforms for agricultural products have also emerged and flourished in recent years.

Agricultural product B2B platforms have become an important driving force for improving the efficiency of agricultural product circulation and trading by building efficient online trading markets that directly connect agricultural product suppliers with wholesalers, catering enterprises, and other commercial buyers. These digital platforms significantly improve transaction efficiency and reduce supply chain-related costs by shortening the product circulation chain, reducing intermediate link costs, enhancing transparency of market information such as prices and inventory.

In addition, agricultural product B2B platforms help suppliers expand their sales networks and customer base, and also provide commercial purchasers with a more diverse range of agricultural products and real-time market information displays. To further promote agricultural product transactions and order fulfillment, agricultural product B2B platforms also offer value-added service solutions including marketing promotion, logistics monitoring, supply chain finance, etc., based on diversified needs for all relevant parties.

Driven by factors such as the continuous expansion of rural internet users, the continuous improvement of digital infrastructure, and the growing demand for fresh agricultural products amidst consumption upgrades, the transaction volume of B2B platforms for agricultural products has seen significant growth in recent years. In 2024, the total merchandise turnover (GMV) of China's agricultural product B2B platforms reached RMB1327 billion, achieving an average annual compound growth rate of 15.0% compared to 2020.

Transaction volume of China's agricultural products B2B platform, 2020-2029 (forecast)

Data source: Analysis by Frost & Sullivan

Looking ahead, with the continuous improvement of agricultural product standardization, the popularization of direct procurement models, and the ongoing enhancement of agricultural product circulation infrastructure such as cold chain logistics facilities, the growth momentum of agricultural product B2B platforms is expected to continue. It is estimated that by 2029, the GMV of China's agricultural product B2B platforms will grow to RMB 284.2 billion, with an average annual compound growth rate of 17.5% from 2024 to 2029.

Agricultural product B2B e-commerce platforms are playing an increasingly important role in the agricultural supply chain, especially against the backdrop of multiple intermediaries and severe information asymmetry in the distribution sector. The platform-based transaction model helps to improve distribution efficiency and reduce transaction costs. As the acceptance of digital tools by agricultural production and sales ends continues to grow, the coverage rate and merchant penetration of B2B platforms across the country are steadily increasing. A large number of small and medium-sized breeders, wholesalers, and catering enterprises have begun to rely on platforms for supply and demand matching and price reference, and platforms have gradually become key nodes connecting the upstream and downstream of agriculture. The increase in platform penetration not only promotes the transformation of agricultural product distribution methods but also facilitates the organization and standardization process of the entire agricultural industry.

As the user base of agricultural product B2B platforms continues to expand, network effects will become one of the core driving forces for industry development. The more merchants connected to the platform, the higher the efficiency of supply and demand matching, the stronger the price transparency, and the richer the product choices provided by the platform. This further attracts more buyers and sellers to settle in, forming a positive cycle. This self-reinforcing mechanism based on network scale will cause leading platforms to continuously widen the gap with other platforms in terms of transaction activity, data accumulation, and ecosystem construction, gradually forming an irreplaceable infrastructure-type role. In the future, platforms with strong agglomeration capabilities will be more likely to establish industry standards, attract capital investment, and continuously consolidate their core position in the digital agricultural circulation system by expanding product categories and extending service chains.