The first fruit stock to be listed on the Hong Kong Stock Exchange in 2022 Hongjiu Fruit Products landed on the Hong Kong stock market and successfully won the title of "the first fruit stock". It opened flat on the first day of listing. During the period, the stock price rose by 3%. The stock price closed flat, with a market value of approximately HK$18.7 billion.

, with a circulating market value of 12.421 billion.

So today, the editor is here to sort out the first fruit stocks to be listed on the Hong Kong Stock Exchange. Let’s take a look! Hongjiu Fruit, the “king” of fresh fruits from Chongqing, was established in 2002. It is mainly engaged in the cooperation and high-quality of global high-quality fruit bases.

Through the integration of fruit resources, we have a variety of sales channels covering the country, and are committed to building brand fresh fruit suppliers and fresh fruit supply chain brand service providers, forming a core business with durian, mangosteen, longan, dragon fruit, cherries and grapes*

**Fruit product portfolio of 49 categories.

According to CIC Consulting, Hongjiu Fruit is the largest private label fresh fruit distributor in China in terms of sales revenue in 2021.

Hongjiu Fruit is also the second largest fresh fruit distributor in China in terms of sales revenue in 2021, with a market share of 1.0%.

Hongjiu Fruit is the largest durian distributor in China and the top five distributors of dragon fruit, mangosteen and longan in terms of sales revenue in 2021.

Specifically, Hongjiu Fruit’s performance has steadily improved in the past three years.

The prospectus shows that Hongjiu Fruit’s revenue in 2019, 2020 and 2021 were 2.078 billion yuan, 5.771 billion yuan, and 10.28 billion yuan respectively. The adjusted profits were 228 million yuan, 662 million yuan, and 1.09 billion yuan respectively. The gross profit was respectively

It was 393 million yuan, 957 million yuan, and 1.613 billion yuan.

From a product perspective, Hongjiu Fruit regards durian, mangosteen, longan, pitaya, cherry and grape as the company's six core fruit products.

The prospectus shows that in the first five months of this year, durian revenue was 1.551 billion yuan, contributing nearly 30% of Hongjiu Fruit’s revenue.

From 2019 to 2021, durian sales were 473 million yuan, 2.107 billion yuan and 3.482 billion yuan respectively.

While performance is growing steadily, Hongjiu Fruit's gross profit margin is declining year by year. The prospectus shows that Hongjiu Fruit's overall gross profit margin dropped from 18.9% in 2019 to 16.6% in 2020, and further dropped to 15.7% in 2021.

%. In this regard, Hongjiu Fruit stated that this is mainly due to the company's marketing activities since September 2020, providing customers with preferential prices to promote the sales of most fruit types, and continuing to expand different sales during the business record period.

Channel's customer mix, the company offers preferential price terms to new customers early in the business relationship.

"Bangbang" counterattacks and becomes chairman Deng Hongjiu, chairman of Hongjiu Fruits, was born in Changshou, Chongqing. At the age of 17, he used the shoulders of a boy to pick up the pole and became a "Bangbang". "Bangbang" is Chongqing's brand name.

The name porter refers to a coolie who helps people unload goods.

By chance, Deng Hongjiu discovered that the price of longevity oranges in his hometown was lower than the price at Chaotianmen Wharf, and he had a new money-making plan in mind.

In 1987, Deng Hongjiu took out 2,000 yuan that he had saved for several years, bought more than 2 tons of red oranges from Changshou, and sold them at Chaotianmen Wharf.

The purchase price of red oranges was 0.3 yuan, but Deng Hongjiu sold them at a price of 0.6 yuan. Unexpectedly, the business was surprisingly good. "I made 80 yuan in the first month, and I was so happy!" Deng Hongjiu said that at that time, the monthly salary of an office worker

It’s only about 100 yuan.

Seeing that selling fruits was obviously more profitable than being a "bangbang", Deng Hongjiu simply devoted himself to the fruit wholesale business.

In 2002, Deng Hongjiu and his wife Jiang Zongying established Chongqing Hongjiu Fruit Co., Ltd. In 2005, Deng Hongjiu seized the opportunity again, when a piece of news caught his attention: 15 kinds of Taiwanese fruits will be imported with zero tariff.

Deng Hongjiu realized that if he could introduce Taiwanese fruits to Chongqing first, even if the price was high and he would not make money, it would still be an opportunity to build his reputation and improve his strength.

In this way, at a trade fair, Deng Hongjiu hit it off with a company in Taiwan, China, and the first batch of 4.4 tons of Taiwanese fruits entered Chongqing.

This move indeed increased the popularity of Hongjiu fruits, and Deng Hongjiu also began to set his sights on a wider imported fruit market.

With constant exploration, in 2011, Deng Hongjiu began to explore imported fruits from Thailand.

Taking longan as a breakthrough point, Deng Hongjiu established a two-sided market after long-term procurement.

In the country of origin in Thailand, Deng Hongjiu established a factory, gained the trust of local fruit farmers, and purchased a large amount of longans from them; on the sales side, Deng Hongjiu cooperated with wholesale markets in more than a dozen provinces to digest tens of thousands of tons of imported fruits purchased.

Alibaba holds 8% of the shares and becomes the largest external shareholder. With a mature distribution model, Hongjiu Fruit’s business is getting bigger and bigger. From Thailand to Southeast Asia, the fruit category has gradually covered durian, mangosteen, dragon fruit, etc.

In terms of financing, in 2016, Hongjiu Fruit successfully received more than 50 million yuan in Pre-A round financing.