Ningbo Joy Wisdom (301198) Technology Co., Ltd. (securities abbreviation: Joy Wisdom Securities Code: 301198) is located in the plastic packaging industry in the packaging industry. China is the world's second largest packaging country and the Asia Pacific country with the largest demand for plastic packaging. The annual consumption of plastic packaging accounts for about 60% of the Asia Pacific region. At present, the development of plastic packaging industry has been included in the national economic and social development plan. China Plastics Processing Industry Association put forward in the Guiding Opinions on the 13th Five Year Plan for the Development of Plastics Processing Industry to basically realize the historic strategic transformation of China from a large plastic processing country to a strong plastic manufacturing country by 2025.
Green circular packaging has a large growth space in the future
At present, the main customers of Joy Smart Products are in the automotive industry and household appliances industry. The company will continue to deepen its efforts in the automotive industry. In addition to the upgrading of the original vehicles, major OEMs have accelerated the layout of new energy vehicles. The introduction of various new models and capacity planning have also increased the demand for the company's circular packaging. In the household appliance industry, the company will gradually expand from the layout of the core components of refrigerators to various sub categories such as air conditioners, washing machines, televisions, etc., with a large space for growth in the future. In addition, the company has made certain breakthroughs in beverage industry, fresh fruits and vegetables, express logistics and other industries. The above industries will become multiple growth points of the company in the future, helping the company to achieve steady growth and comprehensive development.
The green circular packaging construction project with an annual output of 2.3 million sets (sheets) invested by the funds raised from the IPO of Joy Smart Bank; The company invested in the construction of a new energy automobile and household appliance parts recyclable packaging production base project in Chaohu City. At present, the company is actively promoting relevant work, and will arrange production capacity release according to strategic planning, market demand and other factors in the future.
In addition, the company will base itself on the circular packaging industry, make full use of its accumulated competitive advantages, increase investment in technical equipment, further improve production efficiency and product quality, expand the production capacity of existing products, meet the needs of more application fields, and achieve sustained growth in business income and net profit;
The Company will increase its R&D investment, enhance its independent innovation capabilities in R&D, design, testing, etc., and produce customized, energy-saving, environmental protection, recycling cost reduction and other high value-added, high reliability, high-tech content recycling packaging products in high-end fields, further enhancing the Company's core competitiveness in the industry;
While maintaining a strong market position in the traditional automobile industry, the company vigorously develops the circular packaging market in new energy vehicles, white household appliances, drinks and other industries; At the same time, we will vigorously develop leasing and operation businesses, cultivate the breadth and depth of the integration of transportation and packaging in various industries, and enhance the influence of the company's brand in domestic and foreign markets.
Master a series of leading core process technologies in subdivided industries
Joy Wisdom uses materials with different formulas for production according to different requirements of customers, ensuring good performance in different environments; The customized recyclable plastic packaging designed by the company for customers can improve the density of parts per unit space and the efficiency of customer transportation and storage on the premise of ensuring the protection of parts through precise calculation and multiple experiments; The company's mature production experience, perfect technical reserves and efficient design capabilities enable customers to meet their needs in a timely manner. In addition, the company has also established various standards and patent systems to help customers standardize the management of recyclable packaging, increasing the stickiness between the company and customers, making the cooperation between the company and customers more stable and difficult to replace. Through long-term technology accumulation and production practice, the company has mastered a series of leading core process technologies in the subdivided industry, and developed a variety of customized recyclable plastic packaging products, which has certain industry advantages.
The advantages of recycling packaging need to be reflected through recycling, customized design, and standard and normative use. Therefore, certain requirements are put forward for customers in terms of capital investment, appliance management, use planning, and standard establishment. For some customers who want to use recycled packaging more conveniently, the company provides leasing services, which are settled according to the number of times used by customers, so as to reduce the financial threshold for customers to use recycled packaging. At the same time, it provides customers with a full range of services such as transportation, recycling, cleaning, sorting and warehousing. While facilitating customers to use recycled packaging, the company also enhances customer stickiness and gains higher profits.
Different automotive OEMs have different standards for packaging appliances and different penetration rates. Some OEMs and primary suppliers have high penetration rates for circular packaging, but their secondary and tertiary suppliers still focus on one-time packaging; Some OEMs and their suppliers have low penetration rate of circular packaging, but now they recognize the advantages of circular packaging and are gradually increasing the penetration rate; In addition, some new automobile manufacturers are actively developing their own standards for recycling packaging appliances, and the demand for recycling packaging is increasing.
