The potassium fertilizer industry is fiercely competitive, and the potassium fertilizer company Migao Group handed over the Table Stock Exchange

On July 7, Capital State learned that Micao Group Holdings Co., Ltd. (Micao Group) submitted a prospectus to the Hong Kong Stock Exchange on July 6, intending to be listed on the motherboard.

The Micao Group is a potassium fertilizer company that has a comprehensive capabilities that integrate procurement, manufacturing, processing and sales. It can provide various types of potassium fertilizer products, including potassium chloride, potassium sulfate, potassium nitrate, and compound fertilizer. According to the Fifrrishalvan report, according to the sales of potassium fertilizer in 2021, it ranks fifth among Chinese potassium fertilizers. Among China's non -reserve potassium fertilizer companies, it ranks third in 2021 according to the same way.

At the end of the actual feasible date, the company has five major production facilities in Heilongjiang Province, Jilin Province, Guizhou Province and Guangdong Province in China. At the end of the actual feasible date, the company has two potassium chloride mitochondria, 36 potassium sulfate production lines and three compound fertilizer production lines. The company's total estimated production capacity of potassium chloride, potassium sulfate and compound fertilizer products is 290,000 tons, 360,000 tons, and 172,000 tons, respectively.

The company sells most of the products in China. It mainly sells chemical fertilizer products to agricultural reclamation companies, tobacco companies and agricultural comprehensive service companies, and mainly sells by -products to industrial companies. In fiscal year, fiscal year and 2022, the largest customers' sales accounted for about 11.7%, 27.9%, and 22.4%of total revenue, respectively, and the sales of the five customers accounted for about 48.1%, 58.1%and 59.4%, respectively.

As of the fiscal year, 2021 and 2022 fiscal year for the year ended March 31, the company's revenue was 1.82 billion yuan (the same below), 2.08 billion yuan, and 3.84 billion yuan; 207 million yuan and 397 million yuan.

Migao Group faces fierce competition in China's potassium fertilizer industry. According to the Ferrisana report, in 2021, more than 200 potassium fertilizer producers, including state -owned enterprises, private enterprises and foreign -funded enterprises. In fiscal 2022, the company's sales of potassium chloride and potassium sulfate products were about 11.09 million tons and 163,000 tons, respectively. Directors believe that the company has direct competition with large potassium fertilizers in China.

The company is expected to raise funds to invest and build Heilongjiang Logistics and Warehouse Center; to invest and build New Sichuan production facilities; to purchase new equipment and machines; to provide funds for the construction of research and development centers; Other general companies use.

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