SHANDONG JUMP TECH-PACK
NEWS
22
2020
-
04
Plastic bottle cap maker seeks listing
Plastic anti-theft bottle caps are mainly used for beverages and bottled water and other products, and at present, China's bottled water market is highly concentrated, 4 Run Yibao, Nongfusanquan, Jingtian, Coca-Cola and other top six brands together account for more than 80% of the market share, and as a result of this impact, the customer dependence of Jinfu Science and Technology is unusually high.
From 2016 to 2018, the sales revenue to the top five customers was 414 million, 459 million and 516 million respectively, accounting for 90.73%, 92.13% and 90.74% of the total operating revenue, while the revenue from the first largest customer, CR Yeebao, alone accounted for 58.45%, 51.7% and 47.47% of the total revenue, and although the proportion declined year by year , but still maintained at about 50%.
In daily life, the plastic packaging bottles of drinks are not produced by the same manufacturer of one bottle, the cap and the bottle are from different manufacturers, Jinfu Technology is a bottle cap manufacturer, and its main business is the research, development, production and sales of plastic packaging supplies such as plastic anti-theft bottle caps.
The prospectus shows that in 2016-2018, the operating income of Jinfu Science and Technology was 456 million, 498 million and 568 million, with a compound annual growth rate of 11.62%, and the net profit attributable to the mother was 86,499,400, 52,308,600 and 84,859,100 respectively.
Among them, the plastic anti-theft bottle caps achieved revenue of 400 million, 437 million and 503 million in 2016-2018, accounting for 88.56%, 88.7% and 90.37% of the total revenue, respectively, and the revenue of the second largest product, the handles, accounted for about 6% of the revenue, which is obvious from the data that the product structure of Jinfu Science and Technology is relatively single, and the dependence on plastic anti-theft bottle caps is very high. The IPO Jinfu technology to raise 490 million yuan, mainly for plastic bottle cap production base expansion, beverage plastic anti-theft bottle cap production line technology and R & D centre construction, more than 80% of the proceeds will be used for plastic anti-theft bottle cap production capacity upgrading and improvement, but in fact, at present, Jinfu science and technology's production capacity is not very saturated. According to the prospectus, 2016-2018, accounting for more than 80% of the revenue of gold rich science and technology pressure plastic process production of product output were 10.188 billion, 11.412 billion and 13.07 billion, sales were 10.126 billion, 11.321 billion and 12.946 billion respectively
Although the annual sale of nearly 13 billion bottle caps really shocked the cat girl, but the detailed calculation, 2016-2018 Jin Fu science and technology production capacity of 11.704 billion, 13.029 billion and 14.538 billion, respectively, capacity utilisation rate of only 87.05%, 8759% and 89.9%, less than 90%, year by year, a slight increase, but the growth rate is slower, the early listing of capital to expand production capacity can only be regarded as a Saving for a rainy day.
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