On April 17th, HySum Flexibles Global, Inc. (hereinafter referred to as ” HySum Flexibles “) released its annual report for the year 2023.
In 2023, HySum Flexibles achieved operating income of 1.021 billion yuan, a year-on-year increase of 0.82%. The net profit attributable to the shareholders of the listed company was 85.4417 million yuan, a year-on-year decrease of 16.61%. The net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses was 68.4446 million yuan, a year-on-year decrease of 26.91%.
The report shows that the affiliated company Shanghai Jiucheng Packing Co., Ltd (hereinafter referred to as “Shanghai Jiucheng”) had an impact on the company’s net profit of more than 10%. Shanghai Jiucheng achieved operating income of 221 million yuan in 2023, with a profit of 22.846 million yuan.
The report stated that considering the continued development of the cosmetic plastic packaging industry in China, HySum Flexibles, based on its overall strategic planning and its own business development needs, used its funds of 215 million yuan to acquire 43.015% equity of Shanghai Jiucheng in 2019.
It is reported that Shanghai Jiucheng specializes in researching and producing flexible packaging and injection molded containers. It is a packaging supplier for many well-known enterprises and brands such as Unilever, L’Oréal, Johnson & Johnson, Shiseido, Amorepacific, Pechoin, Herborist, and Yunnan Baiyao.
HySum Flexibles stated that the acquisition of Shanghai Jiucheng is an important strategic move for the company in the daily chemical and food packaging segments. It is conducive to realizing the company’s industrial layout in the fast-moving consumer goods industry, which has a high growth rate. This acquisition aligns with the company’s long-term development plan and will positively impact its future business development. It will also provide support for the company to accelerate industrial integration and achieve capital appreciation.
Looking ahead, HySum Flexibles stated that in addition to consolidating and deepening its presence in the traditional pharmaceutical packaging market, it will actively expand into emerging markets such as medical device packaging, biopharmaceutical packaging, health product packaging, and consumer product packaging. By enriching its product line, the company aims to meet the diverse packaging needs of different customers and achieve cross-industry market expansion.
