Milkground(SH:600882) Xin Lang Cai Jing·2026-02-11 10:21Core Viewpoint - Miaokelando (600882.SH) has signed a memorandum with Saudia Dairy & Foodstuff Co. (SADAFCO) to explore business opportunities for children's cheese sticks in the Saudi market, aligning with the company's strategy of focusing on its core business and international expansion [1][5] Group 1: Partnership and Market Strategy - The collaboration with SADAFCO will involve product innovation, localization, distribution, and marketing efforts, with SADAFCO providing insights into Saudi consumer preferences while Miaokelando will ensure product adaptation to local tastes [3][7] - If successful in the Saudi market, the partnership aims to expand into the Gulf Cooperation Council (GCC) region, indicating a broader regional strategy [3][7] Group 2: International Expansion and Market Position - CEO Kuai Yulong stated that this partnership marks a significant step in Miaokelando's internationalization, transitioning from a "Chinese cheese leader" to a "global cheese player," targeting the high consumer spending capacity and demand for quality snacks in the Middle East [3][7] - Miaokelando plans to penetrate Southeast Asian markets, including Thailand, by 2025, enhancing its global supply chain and brand presence [3][7] Group 3: Financial Performance and Leadership Changes - After two consecutive years of revenue decline, Miaokelando reported a revenue of 3.96 billion yuan in the first three quarters of 2025, a year-on-year increase of 10.09%, and a net profit of 176 million yuan, surpassing the entire net profit of 114 million yuan for 2024 [4][8] - The company experienced a leadership change with the dismissal of Vice Chairman and General Manager Chai Xiu, who remains a board member, and the appointment of Kuai Yulong as the new General Manager [4][8]