On February 20, 2021, Shanghai Yifu Packaging Group announced three major projects, all of which promote the development of its holding subsidiary Yifu New Material Company.
Among them, Yifu New Material Company's "Annual Output of 23,000 Tons of Functional Packaging New Material Project" has an investment of 164 million yuan. The project was adjusted on the basis of the original plan, adding 8,000 tons of production capacity, and was completed and put into production at one time. Specific products include an annual output of 10,000 tons of functional PP film, 8,000 tons of ordinary aluminized film, and 5,000 tons of aluminum oxide film. In addition to building new factories and production lines, it plans to build intelligent and automated production capabilities through the purchase of internationally advanced production and testing equipment to achieve full-process control of production, testing, and warehousing.
According to Shanghai Yifu Packaging Group, after the adjustment of the above plan, the above-mentioned project is expected to be completed and put into production in March 2022. The project will have a total construction period of 24 months. Funding is planned to be invested by Yifu New Materials through IPO.
From the main financial analysis indicators, the above-mentioned project’s after-tax financial internal rate of return (IRR) is 17.5%, the financial net present value (NPV) is 37.83 million yuan, the static investment payback period is 4.85 years, and the dynamic investment payback period is 7.15 years. During the period, the break-even point was 11,200 tons, and the capacity utilization rate at the break-even point was 48.8%. The estimated gross profit level of the project is in line with expectations, and the IRR and NPV indicators show that the project is financially feasible.
At the same time, Yifu Packaging Group also announced the "Phase II Project of Intelligent Factory for Packaging Materials for Health Products with an Annual Production of 30,000 tons" by Yifu New Materials Company, with an investment of 165 million yuan. The second phase of the healthy product packaging material smart factory project will increase the annual production capacity of 15,000 tons, of which 10,000 tons of color-printed composite packaging materials and 5,000 tons of breathable membranes will eventually be integrated with the first phase of the project to form a 30,000 tons of health product packaging materials smart factory capacity facility.
According to Yifu Packaging Group, the project will complete the internal and external decision-making approval of the project implementation plan before March 2021, and carry out engineering design, and evaluation and approval work such as environmental impact assessment, energy assessment, safety assessment, etc.; construction will start in April 2021; It will be completed and put into production in April 2023, with a construction period of 24 months. Funding is planned to be invested by Yifu New Materials through an IPO.
Judging from the main financial analysis indicators, the project’s after-tax financial internal rate of return is 17.8%, the financial net present value is 40.54 million yuan, the static investment payback period is 4.92 years, the dynamic investment payback period is 7.11 years, and the breakeven point during the production period is 7400 Tons, the capacity utilization rate at the break-even point was 49.3%. The estimated project gross profit level is in line with expectations, and the IRR and NPV indicators show that the project’s financial analysis is feasible.
Not only that, Shanghai Yifu Packaging Group also announced the "R&D Center Construction Project" of Yifu New Materials Company. The project investment amount is 51.7254 million yuan. The new R&D center building has a construction area of 3,500 square meters. It will be completed in March 2023. The project will purchase R&D related equipment, plans to purchase laser engraving machines, solvent recovery systems and other scientific research equipment. Introduce outstanding R&D personnel, strengthen the research and development of core products and technologies, and complete the performance evaluation and application of new technologies.
Yifu Packaging Group stated that although the "R&D Center Construction Project" does not directly generate economic benefits, the implementation of the project can enhance the core competitiveness of Yifu New Materials' main business and bring considerable benefits to Yifu New Materials' future operations. The economic benefits of Yifu New Materials Co., Ltd. are sufficient guarantee for the long-term sustainable development of the company in the future. On the whole, the above three projects have a total investment of about 380 million yuan, and the source of funds is included in the public fundraising of Hongyu Packaging Materials IPO.
Yifu Group stated that the implementation of the three major projects will help to enhance the continuous profitability and comprehensive competitiveness of listed companies, facilitate the implementation of the overall business strategy of listed companies, and continue to promote the company’s steady and healthy development, without harming listed companies and shareholders. The situation of interest.
Yifu New Materials Co., Ltd. was established on January 31, 2012 with a registered capital of 90 million yuan. The legal representative is Guang. Shanghai Yifu Packaging Group holds 55% of the shares and is the controlling shareholder.
Yifu New Materials Co., Ltd. mainly deals in three types of products: color printing composite packaging materials, kraft paper degradable laminate film and degradable film. The products are used in supermarkets, food, medicine, daily chemicals, biopharmaceuticals and other fields. It is a national high-tech enterprise.
In May 2017, Yifu New Materials Co., Ltd. was listed on the national SME share transfer system. As of June 30, 2020, total assets of 517 million yuan, total liabilities of 272 million yuan, total current liabilities of 262 million yuan, net assets of 245 million yuan, operating income of 246 million yuan, and net profit of 33.842 million yuan (the above data has not been audited ). In 2020, Yifu New Materials Co., Ltd., Hongyu Packaging Materials is expected to have a net profit of 69 million to 73 million yuan, a year-on-year increase of 49.29% to 57.94%.
Since its establishment, Yifu New Materials Co., Ltd. has always focused on the field of packaging materials and products, and has continued to make efforts in R&D and manufacturing capacity upgrades, making the company the invisible champion of the packaging material industry in Asia. Yifu New Material Co., Ltd. is the largest plastic color printing flexible packaging production base in the world, and one of the top 5 enterprises in the plastics industry (plastic composite film) of China's light industry.
At present, Yifu New Material Company has 8 invention patents, 62 utility model patents, and 4 appearance patents. The company mainly provides high-quality product packaging for food, beverage, yeast, condiment, medical protection, sanitary products and other enterprises. And core material.
In the first half of 2020, some projects of Yifu New Material's Smart Factory Project with an annual output of 25,000 tons of health product packaging materials were successfully put into trial operation, and the first batch of breathable membranes delivered for use was well received by customers.
Shanghai Yifu Packaging Group believes that the planned spin-off and listing of Yifu New Materials Co., Ltd. is based on its business development needs, and can promote the common development of listed companies and Yifu New Materials Co., Ltd., standardize governance operations and broaden financing channels.
In terms of profitability, Yifu New Materials has been performing well. The company's net profits from 2017 to 2019 were 44.164 million yuan, 28.41 million yuan and 46.217 million yuan.
Over the years, Shanghai Yifu Packaging Group has always concentrated on its main business, relying on Yifu Group’s technology and product advantages, established an industry chain related to upstream and downstream closeness, and created multiple business areas with Yifu Group as the core. The strategic layout of products, multiple affairs and multiple careers.
Recently, Shanghai Yifu Packaging Group issued an announcement showing that after preliminary calculations by the financial department, it is expected that the net profit attributable to shareholders of listed companies will be between 1.352 billion and 1.397 billion in 2020, an increase of 451 million yuan compared with the same period last year. To 496 million yuan, an increase of 50% to 55% year-on-year. At the same time, Shanghai Yifu Packaging Group expects that the company's main business revenue will increase by 15% to 17% in 2020.
In 2019, Shanghai Yifu Group's current operating income is 7.653 billion yuan, an increase of about 40.59 times from 184 million yuan in 2000. In 2021, Shanghai Yifu Packaging Group's operating income is expected to reach a new high.