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东方集团(600811):全面布局现代农业 多板块业务稳步发展

中泰證券 ·  Nov 10, 2019 00:00  · Researches

Investment points As a large investment holding enterprise group, Oriental Group currently invests in and operates in seven major industries: modern agriculture and health food, new urbanization development, finance, port traffic, information security, oil and gas, new energy, and natural resources. Among them, modern agriculture, health food, and new urbanization development are currently the company's core business. Focusing on modern agriculture and the health food industry, the company has spawned a number of sub-businesses, including grain and oil trade, branded rice, soy products, and oil business, etc., and diversified industrial thinking to lay out the modern agriculture sector. Relying on the four major advantages of food production in the Northeast region in terms of resources, ports, logistics and channels, the company has formed a complete business chain from procurement, storage, transportation, and port to sales, and the grain and oil purchase and marketing business has maintained rapid growth. In terms of new urbanization development, the company has been actively developing since 2016. Currently, the first-level development projects are mainly plots B and C in the core area of the Qinglong Lake International Cultural Center in Fengtai District. Both are expected to meet market entry conditions on December 31, 2019. In terms of equity investment, the company's various equity investments, including Minsheng Bank and Jinzhou Port, etc., provide the company with stable investment income of more than 1 billion dollars every year, and provide strong financial support for the company's expansion into other business sectors. Risk warning event: Equity investment falls short of expectations, and major weather changes have led to a shortage of raw material supply.

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