On March 21, Michael Group (HK: 09879) landed on the Hong Kong Stock Exchange, which opened up 9.80% to HK$4.48, with a total market capitalization of HK$3.717 billion. As of 10:10, Michael Group rose 1.23% to HK$4.13.
It is reported that Michael Group submitted its statements to the Hong Kong Stock Exchange in July 2022, February 2023 and September respectively, all of which were submitted again after the prospectus expired.
According to the prospectus, Michael Group is the third largest potash fertilizer company in China in terms of potash sales volume in 2022, and the company mainly provides various potash fertilizer products, including potassium chloride, potassium sulfate, potassium nitrate and compound fertilizers.
In terms of performance, in the 2021-2023 fiscal year, Michael Group achieved revenue of 2.082 billion yuan, 3.841 billion yuan and 4.723 billion yuan respectively, and net profit of 207 million yuan, 397 million yuan and 422 million yuan respectively in the same period.
Michael Group was founded in June 2003 by the founder, chairman, chief executive officer, executive director and controlling shareholder Liu Guocai, who privately funded the establishment of the Group's first operating subsidiary in China, Sichuan Michael, and started the production of potassium nitrate. Before the IPO, Liu Guocai held 100% of the shares of Michael Group.
According to the prospectus, in the shareholder structure of Michael Group after listing, the controlling shareholder Liu Guocai holds 75% of the shares through Migao BVI, and the public shareholders hold 25% of the shares.
From fiscal year 2021 to fiscal year 2023, Liu Guocai's salary totaled 2.27 million yuan, 4.468 million yuan, and 4.571 million yuan.
According to the information, Liu Guocai, aged 59, was appointed as a Director on 21 November 2017 and re-designated as the Chairman of the Board, Chief Executive Officer and Executive Director on 23 March 2022. Liu Guocai is primarily responsible for the overall strategic planning and day-to-day business operations of the Group and has been a director of Sichuan Migao since June 2003, a director of Euro Chem Migao since February 2014 and a director of Hong Kong Michael since October 2005. He has been a director and chief executive officer of Michael Singapore since April 2010 and August 2014, respectively. From December 2006 to April 2020, he was a director of Changchun Michael Gao.
Liu Guocai has more than 15 years of experience in the production, trading, research and development of fertilizers and related projects. Prior to its establishment in 2003, from September 1993 to June 2003, he served as the general manager of Shenyang Branch of Liaoning Chemical Industry Import and Export Corporation, a company mainly engaged in the import and export of chemical products. He obtained a university diploma in industrial and civil construction from Jianghan Petroleum Institute (now known as Yangtze University) in July 1987 and a postgraduate diploma in economics from Liaoning University in June 1999. He obtained a master's degree in business administration from the American University of California in January 2002. In August 1992, he was awarded the construction engineer certificate by the Personnel Department of Liaoning Province, the PRC.