The pandemic has triggered the vegetable growing genes of urbanites, and they are studying vegetable growing in flowerpots on the balcony. But right now, "growing vegetables in pots" is not a small business, but a large-scale industry. Recently, Fujing China Holdings, a potted vegetable and agricultural product producer in Shandong Province, has submitted a prospectus to the Hong Kong Stock Exchange.
Fujing China started large-scale production of potted vegetable agricultural products in 2016, with an annual output of over 1 million pots. Fujing China is mainly engaged in the cultivation and sale of potted vegetable agricultural products, which are planted in pots and sold in pots. Its potted vegetable products include 27 leafy vegetable varieties, such as chrysanthemum, rapeseed, endive, lettuce, cabbage, lettuce, celery, and brassica.
Potted vegetables Image source: Visual China
According to Frost & Sullivan's report in Fujing China's prospectus, the sales volume of potted vegetable agricultural products in China increased from 63 million pots in 2015 to 221 million pots in 2020, with a compound annual growth rate of approximately 28.5%. The total sales of potted vegetable agricultural products in China accounted for less than 0.1% of the total sales of vegetable agricultural products. In 2020, approximately 72.0% of potted vegetable agricultural products were sold through wholesale channels. Meanwhile, the sales revenue of potted vegetable agricultural products increased from RMB800 million in 2015 to RMB3.521 billion in 2020, representing a CAGR of approximately 34.5%.
Fujing China has three planting bases for planting potted vegetables and agricultural products, including Laixi Base, Xi'an Base, and Dalian Base, with a total area of about 434,300 square meters. There are 143 greenhouses in the company's planting base, with a total construction area of 157,800 square meters.