Master Kong and Bingxin Packaging Add RMB 1.2 Billion Changsha Beverage Phase III and Packaging Base

On September 6, Changsha's investment promotion conference took place in Shanghai, focusing on the Three Highs and Four New strategy and the city's investment climate. Local media reported that 43 projects were signed on site, with combined investment of RMB 58.27 billion, spanning intelligent manufacturing, headquarters economy, comprehensive area development, new infrastructure and other sectors.

Among those 43 projects, the Master Kong beverage Phase III project and the Bingxin Packaging Changsha production base project will be based in the Ningxiang Economic and Technological Development Zone. Project details show that

Master Kong will extend its existing project with beverage Phase III and the Bingxin Packaging project. The total investment is RMB 1.2 billion, with 137 mu of land; the designed additional annual output value exceeds RMB 1.5 billion, and new tax revenue is RMB 150 million.

Public records indicate that Tingyi (Cayman Islands) Holding Corp. and its subsidiaries mainly produce and sell instant noodles and beverages in China, and the group has become a leading player in food and beverage. As of December 31, 2020, it operated 365 sales offices and 236 warehouses, serving 47,898 distributors and 210,366 direct retailers.

In the first half of this year, with the domestic pandemic effectively controlled, Master Kong's business performance improved steadily. Its 2021 interim report showed overall revenue of RMB 35.396 billion, up 7.47% year on year; beverage revenue reached RMB 22.276 billion, up 26.45% year on year and accounting for 62.93% of the group's total revenue.

Bingxin Packaging, a sister company of Master Kong, specializes in eco-friendly corrugated cartons and one-stop packaging service solutions. The company's annual output value is reported to exceed RMB 4 billion, ranking it among the industry's leading players.

So far, Bingxin Packaging has set up 15 production bases in Hangzhou, Chongqing, Shenyang, Wuhan, Guangzhou, Xi'an, Huai'an, Zhengzhou, Harbin, Tianjin, Urumqi, Chengdu, Jiangmen and Nanjing, and it continues to add one to two sites each year. By 2025, it plans to operate 20 directly affiliated production bases and 8 pre-printing centers nationwide, covering most of the country.

The signing of the Master Kong beverage Phase III and Bingxin Packaging Changsha production base project will further expand Master Kong's beverage capacity and support revenue growth in its beverage business and the wider group. It also enlarges Bingxin Packaging's business footprint, helping it take on more packaging material orders from Master Kong and other consumer-facing companies.

Source: China Packaging Network (pack.cn); original link: http://news.pack.cn/show-378234.html