Migao Group Holdings Limited from Gaoming District, Foshan, Guangdong Province, February 28, 2023.Micron GroupSubmit a prospectus on the Hong Kong Stock Exchange for listing on the main board of Hong Kong. This is another application following the expiration of its delivery form on July 6, 2022.
$Migao Group Holdings Limited (810421.HK)$It was listed on the growth Enterprise Market of the Toronto Stock Exchange in 2006, traded on the Toronto Stock Exchange in 2007, and then privatized and delisted in 2016.
Link to the prospectus of Michael Group:
Https://www1.hkexnews.hk/app/sehk/2023/105203/documents/sehk23022801058_c.pdf
Main business
Micron Group, as the leading potash fertilizer company in China, has the comprehensive ability of purchasing, manufacturing, processing and sales, mainly providing all kinds of potash fertilizer products, including potassium chloride, potassium sulfate, potassium nitrate, compound fertilizer and so on.
According to the Frost Sullivan report, Michael Group ranks fifth among Chinese potash companies in terms of 2021 potash sales (with a market share of about 7.6%) and third among Chinese non-reserve potash companies; in terms of potassium chloride, potassium sulfate and potassium nitrate sales in 2021, it ranks fourth, fifth and fifth among Chinese potash companies, with a market share of 8.9%, 4.4% and 1.3%, respectively.
Among the top five potash companies in China, Michael Group is the only fertilizer supplier that provides a comprehensive product line (i.e. potassium chloride, potassium sulfate, potassium nitrate and compound fertilizer).Micron GroupIn 2020, it was awarded "China Potash and Potash Fertilizer Industry Meritorious Enterprise" by potash and potash fertilizer branch of China Inorganic Salt Industry Association. It has been continuously (since 2016) selected by China Chemical Information Center and China Chemical Information Association as the annual "Top 10 of China Potash Fertilizer" and "Top 100 Chemical Fertilizer Enterprises of China".
Shareholder structure
According to the prospectus, in the pre-listing shareholder structure of the MGM Group, its controlling shareholder isMr Lau Kwok-caiWhich holds 100% of the shares.
Company performance
According to the prospectus, in the past three fiscal years 2020, 2021 and 2022 (the fiscal year ends on March 31) and the first eight months of fiscal year 2023 (as of November 30, 2022), the operating income of Migao Group was 1.821 billion, 2.082 billion, 3.841 billion and 2.727 billion yuan, respectively, and the corresponding net profit was 29 million, 207 million, 397 million and 237 million yuan, respectively.
Intermediary team
The intermediary teams of Micron Group's IPO are: Guangfa Finance (Hong Kong) as its exclusive sponsor, Deloitte as its auditor, Jingtian Gongcheng and Astor as its company's Chinese lawyer and Hong Kong lawyer respectively, Tongshang and Morgan Lewis as its company's Chinese lawyer and company's Hong Kong lawyer respectively, and Frost Sullivan as its independent industry consultant.