On April 24th, Chinese cosmetics packaging materials supplier Zhejiang Jinsheng New Materials Co., Ltd. (Jinsheng) released its 2023 annual report. During the reporting period, the company achieved a revenue of 260 million yuan, a year-on-year increase of 7.04%, with a net loss of 23.87 million yuan. The company’s external sales revenue in 2023 was 90.22 million yuan, a decrease of 30.27 million yuan compared to the same period last year.
The company’s main customer base is in the European and American markets, with continued weak demand from customers in North America and Europe leading to reduced sales to corresponding customers. In 2023, the company’s domestic sales revenue was 169.638 million yuan, an increase of 47.3494 million yuan compared to the same period last year.
The company mainly engages in the research, development, production, and sales of cosmetic plastic packaging containers, including cream jar series products and lotion bottle series products. With rich experience in product design, technical research and development, and process innovation in acrylic (PMMA) cosmetic packaging containers, the company is a well-known supplier in the industry.
The company’s products are based on acrylic materials, covering various materials such as PP, ABS, PETG, and AS, with specifications exceeding 1,000 varieties. They provide high-quality and diversified cosmetic plastic packaging container solutions to well-known domestic and foreign cosmetics enterprises such as Estée Lauder, OSM, Shanghai Jahwa, Bloomage Biotechnology, Lushang Freda, WETHERM, Carslan, Forest Cabin and Rocking Zoo.
Looking ahead to 2024, Jinsheng stated that the company will establish a leading domestic design and development platform for fast-moving consumer goods packaging containers. Leveraging accumulated advantages in technological innovation, equipment, and process, refined management tailored to industry characteristics, and advantages in human resources and customer resources, the company plans to collaborate with top domestic and foreign research institutes and hire industry experts for technical guidance. They will also develop a superior compensation system to attract and retain high-end talent within the industry.
Furthermore, the company will hire high-end cosmetic design talents to collaborate with domestic and foreign cosmetic companies, designing new packaging products that meet the requirements of cosmetic companies. Together, they will explore the market, enhance the company’s reputation, and provide product design services to more brand companies, ensuring sustained and stable customer growth.
