1. Company Profile: Market leader in high quality rice and whole grains

2. Industry panorama: stable demand, rapid growth of pre-packaged high-quality products

3. Business conditions: Open up the entire value chain of the industry based on supply/channel/brand advantages

4. Financial Overview: Performance Continues to Grow, Profitability Remains Stable

5. risk factors

Risks of increased competition in the operation of online e-commerce platforms: There are risks in the operation of online e-commerce platforms, such as platform interruption of operations, termination of cooperation, deterioration, or cost increases, which may adversely affect the company's business and operating performance. Although the company gained a first-mover advantage through early entry and cooperation with leading platforms, factors such as increased competition, continuous development of sales channels, and changes in consumer behavior are beyond the company's control and may affect the company's position on the platform. Platform or partnership changes may have a significant adverse impact on a company's customer base, thereby impacting business and operating performance. #极端自然灾害风险: The company is vulnerable to natural disasters, extreme weather, catastrophic events, and outbreaks, such as pests, floods, earthquakes, typhoons, fires, water shortages, power outages, and shortages. Procurement of raw materials is mainly concentrated in the Northeast China Plain. This region is vulnerable to climate change and meteorological disasters such as torrential rain, which may cause disruptions or delays in the supply of raw materials. Fresh water is used as a humectant in the production process. If water is scarce or the water source is polluted, it may cause the company to lose its ability to obtain water resources or increase production costs, further affecting business and financial conditions. #市场竞争激烈. The risk that the company's competitiveness falls short of expectations: The company faces intense industry competition and low industry concentration. China's prepackaged rice, grains, beans and seeds industries are highly competitive and fragmented, with the top five companies accounting for only 8.9% of the market share. Companies need to compete with large groups, small self-employed sellers, and new entrants, increase competitiveness in traditional sales channels, and increase advertising and marketing activities. The company's products are similar to competitors, and there is a risk of imitation and falsification, and failure to resolve them may affect the company's brand and competitive position. #向客户交付货物不及预期风险: The company faces risks associated with product warehousing. Interrupted deliveries, delays, or improper handling of goods may impact efficiency and customer satisfaction, and have a negative impact on the company's business. The company stores products in warehouses built by the company together with the production site. If an accident such as a fire occurs, the company's ability to perform the contract may be adversely affected. The company's logistics are mainly provided by third-party logistics service providers. The company plans and monitors logistics processes through the TMS system, but it is not possible to guarantee that products are always delivered within the predetermined period, nor can it guarantee the quality of delivery. Improper product handling may damage customer satisfaction and the company's brand image, and adversely affect business, financial conditions, and business performance. #下游客户不稳定风险: The majority of the company's revenue comes from a small number of customers, and the top five customers generate a high percentage of total revenue. If these customers reduce their purchases of the company's products, it could have a significant impact on the business. The company has been expanding its customer base, diversifying product offerings, and adapting to changes in sales channels. However, there is no guarantee that these efforts will succeed. If a company fails to maintain or increase revenue from existing customers or develop new customer relationships, it may adversely affect business, financial position, and operating results.