Digital Building Materials DataBM. Com reported on May 9 that Dongfeng announced that it planned to invest 500 million yuan in the field of medicinal glass and build an intelligent manufacturing base for medicinal glass in Fuling Lingang Economic Zone, Chongqing, with a construction period of 12 months. It will reach production capacity within three years from the date of completion and commissioning.
Among them, the source of 500 million funds is self-owned or self-raised funds, and subsequently, wholly-owned or holding subsidiaries will be established as project companies in the project construction site.
According to the announcement, the new project is mainly engaged in the research and development, production and sales of soda-lime glass, borosilicate glass and other medicinal glass products. The project is expected to build five medicinal glass tube kilns and 600 medicinal glass bottle making machines.
Dongfeng said that the investment is in line with the company's strategic transformation plan of "speeding up transformation, focusing on investment and optimizing layout", which will accelerate the company's capital investment and resource distribution in the fields of Class I pharmaceutical packaging materials, pharmaceutical auxiliary materials, medical consumables and medical devices, further expand product categories and optimize the company's product structure. According to
the data, Dongfeng was founded in 1983, headquartered in Shantou, Guangdong Province, and listed on the Shanghai Stock Exchange in 2012. Its business covers cigarette label printing, new energy materials, pharmaceutical packaging and so on.
Among them, cigarette label printing, as the company's current revenue, achieved revenue of 2.45 billion yuan in 2022, down 0.43% from the previous year. However, the Ministry sold a total of 3.3646 million boxes of cigarette labels last year, an increase of 1.35% over the previous year. For this reason, the company said that due to the fierce competition in the industry, the company implemented a price-for-volume strategy to stabilize its market share.
However, even so, it is also true that the cigarette label business is difficult to do. Data show that from 2020 to 2022, the cumulative output of domestic cigarettes was 0.70 billion 23863, 0.40 billion 24182 and 0.50 billion 24321, up 0.9%, 1.3% and 0.6% year on year. With slower growth and more intense market competition, Dongfeng shares began to consciously reduce the cigarette label market and seek new growth poles.
At this time of transformation, high-margin drug package products have entered the vision of Dongfeng shares.
In 2019, Dongfeng invested 259 million yuan to acquire 75% of Chiba Pharmaceutical Package, and began to formally enter the field of pharmaceutical packaging.
Subsequently, through mergers and acquisitions, Shanghai Dongfeng Pharmaceutical Packaging Technology Co., Ltd. was established in May 2021 as the core strategic platform for the development of the pharmaceutical packaging industry.
At present, in the field of Class I pharmaceutical packaging materials, the company has achieved comprehensive coverage of various pharmaceutical packaging materials, such as PVC hard sheets, PVDC hard sheets, pharmaceutical packaging bottles, prickly aluminum caps, aluminum-plastic combination caps, pharmaceutical SP composite films, pharmaceutical packaging aluminum foils, forming and stamping composite hard sheets (including cold stamping aluminum, tropical blister aluminum).
From 2019 to 2022, the pharmaceutical packaging business brought a total of 217.1578 million yuan, 280.4542 million yuan and 538.0604 million yuan to the company. RMB582,029,800, representing a year-on-year increase of 105.44%, 91.85% and 8.17% in the three years from 2020 to 2022. It has become the second growth pole of the company.
As Dongfeng said, the project can further expand the product category and optimize the company's product structure, which will have a positive impact on the company's overall business performance in the future.
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