Why do the two leading enterprises in the hottest

2022-07-26
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Why do the two leading enterprises of paper packaging not think in reverse? Release date: Source: Internet editor: private thoughts. Number of Views: 1057 copyright and disclaimer. Core tip: the packaging industry is a shadow industry of consumer goods. For various reasons, relevant listed companies have been standing at the forefront since last year. Although the packaging industry has no technical barriers and the industry concentration is low, the demand of the industry is stable. In particular, the development of Internet makes the packaging industry grow rapidly, especially the paper packaging industry. It is not difficult to predict that some large packaging enterprises with customer resources, technology and capital advantages will become oligarchs in the future. It is a high probability event to continue to improve the industry concentration through mergers and acquisitions (mergers and acquisitions in the packaging industry have continued in recent years). There are many enterprises above Designated Size in the paper packaging industry, and the competition is fierce. The average gross profit margin of the industry is 14%, and the net profit margin of sales is 5.8%. Paper packaging is mainly domestic enterprises, and there are few foreign-funded enterprises. Listed companies: Hexing packaging and meiyingsen. For

[China Packaging News] the packaging industry is a shadow industry of consumer goods. For various reasons, relevant listed companies have been standing in the wind since last year. Although the packaging industry has no technical barriers and the industry concentration is low, the demand of the industry is stable. In particular, the development of Internet makes the packaging industry grow rapidly, especially the paper packaging industry. It is not difficult to predict that some large packaging enterprises with customer resources, technology and capital advantages will become oligarchs in the future. It is a high probability event to continue to improve the industry concentration through mergers and acquisitions (mergers and acquisitions in the packaging industry have continued in recent years). There are many enterprises above Designated Size in the paper packaging industry, and the competition is fierce. The average gross profit margin of the industry is 14%, and the net profit margin of sales is 5.8%. Paper packaging is mainly domestic enterprises, and there are few foreign-funded enterprises. Listed companies: Hexing packaging and meiyingsen. Why don't we analyze the performance of these two leading enterprises by reverse thinking? Since the packaging industry is a shadow industry of consumer goods, the analysis of the market performance of enterprises can be seen from the downstream customers in the next few years

why is the gross profit and net profit of meiyingsen higher than that of Hexing packaging

because the purchasing cost of each bag of mayinson has to increase by at least 0.5 yuan; Considering that there were many multinational enterprises (mainly Samsung, Amazon, IKEA, ZTE and other high-end customers) among the 8.3 billion plastic bags in the express industry in 2015, these giant enterprises have large volume and strong profitability despite their slow growth. Their satisfaction with mayinson will largely determine the value of the company. The customers of Hexing packaging are mainly domestic enterprises. Although the growth rate of customers is fast, it is obvious that the quality and stability of profits are not as good as that of meiyingsen

business model

business model determines the profit distribution ratio between packaging companies and downstream customers. Now the packaging industry basically has three business models, corresponding to three different profit distributions

the first: traditional mode. Under the traditional business model, the focus of the packaging company's operation is the manufacturing link. It obtains orders from customers for production and only gets the profits of the manufacturing link. Hexing packaging is such a model

the second type: packaging integration. The integrated services of design, procurement, production and inventory can achieve greater profit distribution and higher gross profit margin because they go deep into the downstream industrial chain. However, it is very difficult to establish a long-term and stable cooperative relationship with downstream customers. Before customers recognize you, it is difficult for you to obtain large quantities of orders, so the company's performance is easy to fall into a bottleneck without growth. The most typical representative is meiyingsen. Fortunately, it has stood at the forefront of electronic products in recent years, and the previous performance growth rate is not satisfactory

the third type: symbiotic type. The production line of the packaging enterprise coexists with the enterprise, and packaging has become a link of its production. The packaging enterprise is more like a department of the downstream customer enterprise. In this case, the packaging enterprise naturally has a deeper involvement in the downstream, and the combination of both sides is a link of prosperity and loss. Packaging enterprises are growing with downstream enterprises

respective stock market performance

1. Mayinsen: its main customers are high-end customers such as Samsung, Amazon, IKEA and ZTE. The downstream industry is growing at a high speed. The capacity of the entire industry is about 18.9 billion yuan, accounting for about 6% of the company's market. The company's performance has increased significantly since 2012, with revenue increasing by 26.33% in 2013 and net profit increasing by 62% (the decline in cost leads to a rapid increase in net profit). Since 2012, roe has been continuously improving, with gross profit With the improvement of capacity utilization of the new base, the net interest rate has also increased steadily. The operating cash flow is greater than the net profit. There is no bank loan. It is expected that the interim report performance will increase by about 50%. With the great development of electronic products in the past three years, the performance of Sichuan new energy-saving material production line might have been better if the production capacity of Sichuan new energy-saving material production line was not insufficient. This year, the company has successively obtained the qualification of packaging supplier from 7 enterprises including Zara, Harman and ZTE (the downstream customers are mainly multinational enterprises, and becoming a supplier of multinational enterprises requires a long-term certification process, but once it enters its supply system, it will have a stable source of orders). At the same time, the company is constantly looking for high-quality targets for M & A and integration in the industry. At present, the company is gradually involved in liquor, luxury goods, shopping packaging and electronic label business

2. Hexing packaging: Hexing is positioned as medium and low-end paper packaging (almost no cooperation with major brands), and has been positioned to serve electrical appliance enterprises before. The market share of the company is about 20%. 13 years ago, due to the nature of the industry itself and the fact that the rise in industry costs could not be effectively transferred, the company's gross profit margin had been declining, and the increase in revenue did not increase profits. The gross profit margin was far lower than that of meiyingsen. However, Hexing packaging April 25 - Hunan Academy of Forestry Sciences: morning special report, discussion and interaction; In the afternoon, the turnover of reports and seminars is faster, and the roe is slightly higher than that of mayingsen. In the past two years, the company has begun to transform, learn from mayingsen and develop towards the direction of packaging integration. The company has a stronger desire for mergers and acquisitions. In recent years, there have been a lot of capital operations. It is expected that the interim report performance will increase by about 40%

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