Guide: With the development of the industry, the desire for large-scale enterprise upgrading and integration of upstream and downstream is also gradually strong. M&A will effectively reduce costs, expand the market, increase competitiveness, thereby increasing profit margins and making the industry more concentrated. .
High speed of printing and printing industry In the annual report released in 2013, the overall ROE (return on net assets) of the packaging and printing industry reached 11.77%, an increase of 3.91 percentage points compared with 7.86% in the same period of 2012.
The company's leading company's 2013 annual revenue reached 1.306 billion yuan, an increase of 26.3%; net profit of 174 million yuan, an increase of 62%. The company also expects first quarter 2014 results to increase by 40% to 60%.
The majority of other packaging and printing companies listed on the A-share market increased their net profit in different degrees last year. Among them, Hexing Packaging, Dongfeng, Shanghai Luxin, Wanshun and Jinjia shares increased by 57.30%, 36.96% and 30.51 respectively. %, 10% to 30%, 17.64%. It seems that most of the packaging giants have had a good look.
"Mariat acquisition" is the development of big power analysis annual report. We can find that there is a common reason behind the growth of the famous packaging companies on the list - outsourcing. Through outreach mergers and acquisitions, the company expanded its market share, expanded its upstream and downstream, and achieved a gorgeous turn in performance.
Mei Yingsen, the leader of corrugated packaging products, has been looking for "daughter". In 2013, Mei Yingsen “Welcome†Shenzhen Jinzhicai Culture and Creative Co., Ltd., and successfully entered the cultural and creative industry.
Jinzhicai itself is strong in strength, and this marriage can be described as a strong alliance, and the door is right. Jinzhicai's performance before the acquisition was very high. In 2012, it achieved revenue of 313 million yuan and net profit of 30.302 million yuan.
At the time of the acquisition, Jinzhicai and its original shareholders also made a "marriage commitment": from 2013 to 2015, the company's net profit was not less than 33 million yuan, 42.9 million yuan, 55.77 million yuan. From the increase in performance in 2013, we can see that Mei Yingsen has tasted the sweetness. If the color of the gold is "a promise", then the performance of Mei Yingsen in the next few years will also "high on the road."
In 2013, it was not only the giant Mei Yingsen who had tasted the sweetness of the merger, but also Shanghai Green New, which opened the door.
Shanghai Green's significant growth in 2013 was attributed to the contribution of Fujian Taixing Special Paper acquired in 2012. In the first half of 2013 alone, Fujian Taixing special paper realized revenue of 287 million yuan, accounting for 36.4% of the company's total revenue; net profit of 45.02 million yuan, accounting for 85% of the company's total share of the company's total net profit of 41.3%.
In June 2013, Shanghai Luxin successfully acquired a 60% stake in Zhejiang Demei Color Printing, in order to enter the food packaging field. Zhejiang Demei was born in the “Famous Family†and is a large domestic paper container manufacturer. Its products are mainly used for paper cups, paper bowls and printing services, and downstream customers include incense fluttering, Wahaha, and Xiaoyang.
Through this marriage, Shanghai Luxin successfully extended downstream with Zhejiang Demei, realizing the initial transformation from environmental packaging materials suppliers to packaging materials design, printing and production of the overall solution provider, making the company's performance re On the next step.
In addition to the extension of the merger, the rise of Jinjia shares is a typical "extensional mergers and acquisitions" road, relying on mergers and acquisitions and industry integration to form a new performance growth point, is the secret of the development of Jinjia shares over the years.
Since its listing in 2007, Jinjia has been busy with recruiting talents. In April 2008, the company acquired a 29% stake in Tianwai Green Bag. In July, it acquired a 60% stake in China Toyota to realize the extension of the industrial chain. In October, it acquired the remaining 49% equity of Anhui Antai to achieve full control, 2009 7 In the month, the company increased its holdings of 24.05% of Tianwai Green Pack to realize the control of Tianwai Green Bag. The above acquisitions ensured the rapid growth of the company's performance in the past two years. In 2008-09, the company achieved net profit growth of 35.4% and 45.9% respectively.
After the high performance of Jinjia Shares in 2013, it is also expected that the net profit growth in the first quarter of this year will reach 24.27%. Analysts believe that the reason why Jinjia shares grow at such a high rate is due to the continuous integration of the tobacco label industry and the continuous improvement of economies of scale.
China's packaging and printing industry has always had problems such as low industry concentration, large proportion of low-end products, and vicious competition. Statistics from China's packaging network show that the top five companies in the US packaging and printing industry account for more than 70% of the entire industry, while some of China's top-ranking companies have a market share of only about 1%. China's packaging and printing industry to take "extended mergers and acquisitions" is also the inevitable development of the industry.
With the development of the industry, the desire for large-scale enterprise upgrading and integration of upstream and downstream is also gradually strong. M&A will effectively reduce costs, expand the market, increase competitiveness, thereby increasing profit margins, and making the industry more and more concentrated.
From this point of view, "marriage" will also become the trend of the future printing industry.
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