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久量股份(300808)新股网下申购询价建议报告

Report on the proposal for offline purchase of Jiulong shares (300808)

東莞證券 ·  Nov 11, 2019 00:00  · Researches

Company profile

Jiamei Food Packaging (Chuzhou) Co., Ltd. was established on January 26, 2011. since its establishment, the company has been engaged in the research and development, design, production, sales and beverage filling business of food and beverage packaging containers for a long time. To provide customers in the food and beverage industry with integrated packaging container design, printing, production, distribution, filling and comprehensive customer service packaging container solutions. The company's main products include three-piece cans, two-piece cans, aseptic paper packaging and PET bottles, which are mainly used for the packaging of dairy and vegetable protein drinks, instant tea and other drinks and bottled water, as well as filling services for all kinds of beverages. Up to now, the company has set up 18 production bases throughout the country, distributed in Anhui, Guangxi, Hubei, Fujian and Sichuan provinces, and has an annual production capacity of 8.55 billion cans of three-piece cans, 1 billion cans of two-piece cans, 4.202 billion cans of filling capacity, 2.66 billion packets of sterile paper bags and 1.479 billion bottles of PET bottles. Establish a Chinese beverage service platform with wide coverage, complete product types and strong production capacity. In recent years, the company has achieved an average annual sales income of about 3 billion yuan and an average annual net profit of about 200 million yuan. The company has become one of the three-piece can manufacturers with the largest production capacity in China, and the metal packaging company with the largest filling capacity in China. it has outstanding market competitiveness in the field of metal packaging.

From 2016 to 2018, the company's income was 2.942 billion yuan, 2.747 billion yuan and 2.96 billion yuan respectively, and the net profit was 248 million yuan, 56 million yuan and 173 million yuan respectively. The compound growth rate of operating income and net profit in the three years was 0.32% and-16.53% respectively.

In 2018, the company's comprehensive gross profit margin was 17.44%, and the net profit rate was 5.83%.

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