Chunguang Pharmaceutical Equipment's First Annual Report After Beijing Stock Exchange Listing: 2022 Revenue Reaches RMB 216 Million as Packaging Equipment Demand Keeps Expanding

On April 24, Liaoning Chunguang Pharmaceutical Equipment Co., Ltd. ('Chunguang Pharmaceutical Equipment') issued its 2022 annual report and 2023 first-quarter report. It was the company's first annual report since its listing on the Beijing Stock Exchange. The filing showed 2022 revenue of RMB 216 million, an increase of 21.02% from a year earlier, while net profit attributable to shareholders of the listed company reached RMB 41.0132 million, up 17.33%. Over the past year, the company maintained steady operations and achieved rapid growth across several business indicators.

Debut Annual Report Delivers Solid Results, With Steady Upward Momentum

In China's pharmaceutical and food high-flexibility intelligent packaging equipment sector, Chunguang Pharmaceutical Equipment ranks among the leading suppliers. Over the past year, the company achieved multiple operational milestones, strengthening customer acquisition and retention, leveraging its established industrial advantages, and driving sustained performance growth. With strong R&D strength and a rich product portfolio, it has maintained stable cooperation with leading pharmaceutical and food companies, serving well-known customers such as Yili, Milkground, Miaofei, Mengniu, CR Sanjiu, Guangzhou Pharmaceutical Group and Taiji Group.

By segment, revenue from pharmaceutical packaging equipment climbed sharply in 2022, rising 37.87 percentage points year on year to RMB 93.9689 million. Food packaging equipment revenue increased 9.36 percentage points year on year to RMB 108 million. The disclosure attributed the stronger pharmaceutical packaging equipment revenue mainly to high growth in linked production lines for pharmaceutical packaging equipment, which rose 67.23% year on year.

On the financial side, the company's asset-liability ratio declined to 35.03% from 59.51% in 2021, down 24.48 percentage points year on year. After repaying some bank loans carrying relatively high interest rates, financial expenses decreased 31.79 percentage points year on year, while selling expenses also fell 6.9 percentage points. Overall, Chunguang Pharmaceutical Equipment further optimized its financial structure and established a more solid foundation for performance.

The first-quarter report also indicated a strong start, with revenue of RMB 51.0458 million, up 27.85% from the same period last year.

Packaging Equipment Outlook Brightens as Market Space Keeps Opening

In recent years, per-capita disposable income in China has continued to rise, while industries such as food, beverages, pharmaceuticals and chemicals have remained vibrant. As a key part of fixed-asset investment in downstream sectors, packaging equipment has seen expanding market demand. Data from SmithersPira shows that the global packaging industry's market value is expected to grow from USD 917 billion in 2019 to USD 1.05 trillion by 2024. By 2030, the packaging market is projected to reach USD 1.13 trillion. This points to considerable room for future market expansion at Chunguang Pharmaceutical Equipment.

At the policy level, ongoing domestic industrial policies continue to encourage packaging equipment companies to invest more in intelligent production-line upgrades and advanced robotics research, accelerating the shift from conventional manufacturing to intelligent manufacturing centered on artificial intelligence, robotics and digital production. In 2022, Chunguang Pharmaceutical Equipment invested RMB 8.9095 million in technology R&D, equal to 4.12% of revenue, further strengthening its core competitiveness. The company has also received repeated recognition from industry bodies and government departments: in July 2022, it was named 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, it held 10 invention patents, 27 utility model patents and 3 software copyrights.

Faster Domestic Substitution Aims to Serve Diversified Demand

Against the backdrop of innovation and upgrading in the pharmaceutical industry, demand for mid-to-high-end pharmaceutical equipment continues to grow rapidly. The replacement of some imported equipment with domestic alternatives has become an industry trend, with equipment manufacturing and high-tech industries playing an increasingly evident supporting role. Meanwhile, the food industry, particularly dairy, offers broader demand potential for packaging equipment, and the scope of domestic production for high-end packaging equipment continues to expand.

In response to the domestic substitution trend, Chunguang Pharmaceutical Equipment is leveraging its existing independent innovation and R&D capabilities, as well as its strengths in solid-preparation packaging and cheese-product packaging, to narrow the gap between domestic equipment and high-quality imported equipment. Building on mature models, the company is improving equipment performance, developing smarter and more practical products, and continuously raising product quality to more effectively meet customers' diversified needs.

Looking ahead, Chunguang Pharmaceutical Equipment said it will seize opportunities created by China's innovation-driven development and the accelerated growth of strategic emerging industries, make full use of the capital market's resource-allocation function, and comprehensively strengthen independent technological innovation. It plans to develop packaging equipment and supporting devices, extend vertically into upstream and downstream industries, and deploy advanced, distinctive packaging equipment. The company will also focus on scenario-based customer needs, deepen technology and innovation-driven R&D, build an important national technology innovation platform for packaging equipment, and strive to become a distinctive, world-class packaging equipment enterprise.

——Source: China Packaging Network (pack.cn), original link: http://news.pack.cn/show-379346.html