米高集团2024 / 2025中期报告

(incorporated in the Cayman Islands with limited liability)（於開曼群島註冊成立的有限公司）Stock Code : 9879 CONTENTS 2Corporate Information4Financial Highlights5Management Discussion and Analysis12Corporate Governance and Other Information21Report on Review of Condensed Consolidated FinancialStatements23Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income24Condensed Consolidated Statement ofFinancial Position26Condensed Consolidated Statement ofChanges in Equity28Condensed Consolidated Statement ofCash Flows30Notes to the Condensed ConsolidatedFinancial Statements51Definitions CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Liu Guocai(Chairperson and chief executive officer)Mr. Sun Pingfu(Research and development director)Mr. Dong Benzi(Internal control director) Independent Non-executive Directors Qing Meyerson Mr. Chen GuofuMs. Huang ShashaMs. Qing Meyerson AUDIT COMMITTEE Qing Meyerson Ms. Qing Meyerson(Chairperson)Mr. Chen GuofuMs. Huang Shasha REMUNERATION COMMITTEE Ms. Huang Shasha(Chairperson)Mr. Chen GuofuMr. Dong Benzi NOMINATION COMMITTEE Mr. Liu Guocai(Chairperson)Mr. Chen GuofuMs. Huang Shasha COMPANY SECRETARYMs. Fung Wai Sum AUTHORIZED REPRESENTATIVES Mr. Liu GuocaiMs. Fung Wai Sum HONG KONG LEGAL ADVISERS 1519 Morgan, Lewis & Bockius19th FloorEdinburgh Tower, The Landmark15 Queen’s Road CentralHong Kong AUDITORS •88135 DeloitteTouche Tohmatsu(Registered Public InterestEntity Auditor)35/F, One Pacific Place88 QueenswayHong Kong REGISTERED OFFICE 4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands 4th Floor, Harbour Place103 South Church Street, P.O. Box 10240Grand Cayman KY1-1002Cayman Islands PRINCIPAL PLACE OF BUSINESS IN THEPRC Qingzhou Development Zone,East Park, Cangjiang Industrial ParkGaoming DistrictFoshan CityChina PRINCIPALPLACE OF BUSINESS INHONG KONG Room 801, 8/F, COFCO Tower262 Gloucester RoadCauseway BayHong Kong 2628801 PRINCIPAL SHARE REGISTRAR Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240, Grand Cayman KY1-1002Cayman Islands Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240, Grand Cayman KY1-1002Cayman Islands HONG KONG SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKER Bank of China Foshan Gaoming Sub-branch www.migaogroup.com COMPANY WEBSITE www.migaogroup.com STOCK CODE9879 9879 FINANCIAL HIGHLIGHTS ••••2 0 2 52,128.220241 , 2 5 5 . 769.5%•202575.32 0 2 461.323.0%•20250.08920240.0945.3% Totalrevenue for 6MFY2025 of approximatelyRMB2,128.2million(6MFY2024:approximatelyRMB1,255.7million),period-on-period increase ofapproximately 69.5% Profitfor 6MFY2025 of approximately RMB75.3million (6MFY2024: approximately RMB61.3 million),period-on-period increase of approximately 23.0% BasicearningsperSharefor6MFY2025ofapproximately RMB0.089 (6MFY2024: approximatelyRMB0.094),period-on-perioddecreaseofapproximately 5.3% MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW 20252024552,00087.9%20251,037,000 In6MFY2025,the Group strengthened its position as aleadingpotash fertiliser company in China,achievinganincrease of approximately 87.9%in overall salesvolumeof the products of the Group and the provisionofproduction services,from approximately 552,000tonnesin 6MFY2024 to approximately 1,037,000 tonnesin 6MFY2025. This growth is primarily attributable to theGroup’s unwavering commitment to product quality and aprofound understanding of its customers’ needs. 2020243 Having been in China’s potash fertiliser business for morethan 20 years, the Group has established comprehensiveKCLprocurement channels,enabling it to secure astablesupply of KCL from major overseas potashfertiliser producers at competitive costs and the Group iscontinuouslyexpanding its market share to enhance itsleadership in potash market. The listing of the Shares inMarch 2024 marked a significant milestone in the Group’shistory. This achievement is expected to open access tovariouscapital markets,thereby diversifying financingoptions for business expansion and supporting the Group’sefforts to expand its customer base. FUTURE PROSPECTS Lookingahead,the Group aims to navigate marketfluctuations by promoting growth through innovation andbroadening its product offerings. The Group will continueexploring new markets to meet the rising global demandforhigh-efficiency fertilisers,focusing on operationalefficiency and customer satisfaction. Strategic investmentsin new facilities and technologies are expected to enhancesupplycapacity for demand arising from overseasemerging markets and strengthen the Group’s position asa reliable partner in the agricultural industry. In line withthese goals, the Group will continue to explore differentinvestment opportunities, improve production capacity andbring values to the Group’s customers in t