Packaging Equipment Market Promises Broad Prospects: Chunguang Pharmaceutical Equipment Posts 2022 Revenue of RMB 216 Million, Up 21.02% Year on Year

On April 24, Liaoning Chunguang Pharmaceutical Equipment Co., Ltd. (hereinafter "Chunguang Yaozhuang") released its 2022 annual report and 2023 first-quarter report. This is the first report card Chunguang Yaozhuang has delivered since its listing on the Beijing Stock Exchange. According to the annual report data, Chunguang Yaozhuang achieved revenue of 216 million yuan in 2022, up 21.02% year on year; the net profit attributable to shareholders of the listed company was 41.0132 million yuan, up 17.33% year on year. In 2022, Chunguang Yaozhuang developed steadily, achieving rapid growth in multiple business indicators.

First annual report performs excellently, results grow steadily toward a bright outlook

As a leading domestic supplier of highly flexible intelligent packaging equipment for pharmaceuticals and food, Chunguang Yaozhuang achieved many development milestones in the past year of operation. In terms of business development, the company gave full play to its accumulated industrial advantages in acquiring and retaining customers, achieving sustained growth in company performance. Thanks to its excellent R&D strength and rich product variety, Chunguang Yaozhuang has established stable and good cooperative relationships with leading enterprises in the pharmaceutical and food fields; its cooperative customers include well-known industry players such as Yili, Milkground, Miaofei, Mengniu, CR Sanjiu, Guangzhou Pharmaceutical Group and Taiji Group.

In 2022, Chunguang Yaozhuang's revenue from pharmaceutical packaging equipment rose substantially, up 37.87 percentage points from the same period last year, reaching 93.9689 million yuan. At the same time, the company's food packaging equipment revenue also rose 9.36 percentage points from the same period last year, reaching 108 million yuan. According to the disclosure, the main reason for the rise in pharmaceutical packaging equipment revenue was the relatively high revenue growth rate of linked production lines for pharmaceutical packaging equipment, which grew 67.23% year on year.

In terms of financial structure, the company's asset-liability ratio fell 24.48 percentage points year on year, from 59.51% in 2021 to 35.03%. In terms of financial expenses, the company repaid some bank loans with relatively high interest, down 31.79 percentage points year on year, while selling expenses also fell 6.9 percentage points year on year. From the data, Chunguang Yaozhuang's financial structure was further optimized, building a solid and good performance foundation.

In addition, according to the first-quarter report, Chunguang Yaozhuang's start was also good, with the company achieving revenue of 51.0458 million yuan, up 27.85% from last year.

Industry prosperity further improves, demand for packaging equipment expands

In recent years, the per-capita disposable income of Chinese residents has risen year by year, and domestic industries such as food, beverages, pharmaceuticals and chemicals have flourished. As an important part of fixed-asset investment in downstream industries, packaging equipment has seen its market demand greatly increase. According to data released by SmithersPira, by 2024 the global packaging industry market value is expected to grow from 917 billion US dollars in 2019 to 1.05 trillion US dollars. It is expected that by 2030 the packaging market will reach 1.13 trillion US dollars. From this, Chunguang Yaozhuang has huge future market development space.

And under the continuous encouragement of domestic industrial policies, domestic packaging equipment enterprises have successively increased investment in the intelligent transformation of production lines and research into advanced robots, launching a transition from traditional manufacturing toward intelligent manufacturing centered on artificial intelligence, robots and digital manufacturing. In 2022, Chunguang Yaozhuang invested 8.9095 million yuan in technology R&D, with R&D investment accounting for 4.12% of revenue, further enhancing the company's core competitiveness. In addition, the company has repeatedly won awards and ratings from industry and government departments; in July 2022 the company was rated an "Advanced Enterprise" by the Jinzhou Small and Medium Enterprise Federation, and in September of the same year it won the title of national fourth-batch specialized, refined, distinctive and innovative "little giant" enterprise. As of the end of the reporting period, Chunguang Yaozhuang had obtained 10 invention patents, 27 utility model patents and 3 software copyrights.

Accelerating domestic substitution, committed to meeting diversified product needs

Against the backdrop of innovation and upgrading in the pharmaceutical industry, market demand for mid-to-high-end pharmaceutical equipment has maintained rapid growth, and the replacement of some imported equipment by domestic equipment has already become an industry trend, with the equipment manufacturing industry and high-tech industries playing an obvious supporting role. At the same time, the food industry, especially the dairy products industry, has broader space for demand for packaging equipment, and the field of domestic production of high-end packaging equipment is also continuously expanding.

Against the trend of domestic substitution, Chunguang Yaozhuang, on the basis of its existing independent innovation and R&D capabilities, gives play to the company's advantages in the solid-preparation packaging industry and the cheese-products packaging industry, narrows the gap between domestic equipment and high-quality imported equipment, innovates and improves the performance of existing equipment on the basis of original mature models, creates smarter and more practical products, and strives to improve product quality, so as to more effectively meet customers' diversified needs.

For future development, Chunguang Yaozhuang said it will firmly seize the historical opportunity of the nation's innovation-driven development and the accelerated growth of strategic emerging industries, give full play to the resource-allocation function of the capital market, comprehensively enhance its independent technological innovation capability, develop packaging equipment and supporting devices, actively extend vertically to upstream and downstream industries, lay out advanced and distinctive packaging equipment, focus on users' scenario-based needs, and cultivate technology and innovation-driven R&D, becoming an important national technological innovation platform for packaging equipment, and committed to building the company into a distinctive, world-class packaging equipment enterprise.

——This article is reprinted from China Packaging Network (pack.cn), original link: http://news.pack.cn/show-379346.html