IPO Candidate Yimutian Seeks Inflated Valuation On Falling Revenue

  • Yimutian's revenue is declining and gross profit is falling, despite operating in a fast-growing smart agriculture market in China. The company seeks an excessive EV/Revenue multiple valuation of 25.6x, while continuing to post falling revenue, continuing operating losses and negative cash flow. Shareholder risks are high due to low float, concentrated business in China, and limited post-IPO transparency as a foreign private issuer.