HK Stock Market Move | MIGAO GROUP (09879) rose nearly 6% recently announced plans to enter the Vietnamese market and intends to invest over 200 million yuan to build production facilities.

MIGAO GROUP (09879) rose nearly 6%, as of press time, it has increased by 5.8% to 6.02 Hong Kong dollars, with a turnover of 48.0498 million Hong Kong dollars. On the news front, recently, MIGAO GROUP announced that the group plans to establish a production facility in Phu My District, Ba Ria-Vung Tau Province, Vietnam, with a construction area of approximately 63,510 square meters. The facility will mainly produce potassium sulfate and nitrogen-potassium compound fertilizers, with a production line designed to have an annual capacity of about 80,000 tons of potassium sulfate and about 100,000 tons of nitrogen-potassium compound fertilizer, with a total cost of approximately 265 million yuan. The group estimates that based on the current market demand in Southeast Asia and South Asia, assuming that the market prices of related products remain unchanged, the products produced at the Vietnam facility will generate annual sales of about 400 million to 500 million yuan after capacity expansion.