Song De Packaging: China's Leading Packaging Enterprises

Song de packaging is mainly engaged in R & D, production and sales of gravure press and its complete sets of equipment. It is a leading intaglio printing machine and its complete set of equipment suppliers in China.

Song de packaging has a high reputation in the industry. It is the vice chairman of the China Packaging Federation, the executive director of China packaging machinery Specialized Committee, the vice chairman of the China Printing Technology Association gravure printing branch, the Chinese packaging leading enterprise identified by the China Packaging Federation, has obtained the EU "CE" certification, and has undertaken a number of industry standards.

Internal discipline: Technology Abroad

China's printing machinery industry started relatively late, and until 1970s, it has always been dominated by lead printing technology. So far, although Chinese enterprises have already set foot in the modern printing machinery manufacturing industry, the import facilities of Rudi, Boste, KOMORI and Shang Bang still occupy the leading position of the high-end printing equipment market in China.

However, in recent years, with the encouragement of the national industrial policy, the domestic printing equipment manufacturers have made considerable progress by absorbing advanced foreign technology and independent innovation, and a few enterprises in China have successfully entered the high-end market such as paper concave machines by virtue of their technological strength and price advantage.

Song de packaging is the best among them.

The core competitiveness of song de packaging lies in its technological advantages.

Song de packaging is a high-tech enterprise jointly evaluated by Guangdong provincial science and Technology Department, Guangdong provincial finance department, Guangdong State Taxation Bureau and Guangdong Local Taxation Bureau. It has 13 technical patents, and 9 other patent applications have been accepted.

In addition, the company has a number of non patented technology, mainly in the pmission mode, unwinding mechanism, drying system, scraper system, anti ink device and other core non-standard design links.

　　在2003年，松德包裝率先將電子軸傳動技術(shù)運(yùn)用在凹版印刷機(jī)，填補(bǔ)國產(chǎn)凹版印刷機(jī)在電子軸傳動領(lǐng)域的空白，并于2005年推出印刷速度達(dá)到350m/min的高速電子軸凹版印刷機(jī)，使國產(chǎn)凹版印刷機(jī)實(shí)現(xiàn)了高速化，為打破進(jìn)口設(shè)備在高速電子軸傳動凹版印刷機(jī)市場上的壟斷局面創(chuàng)造了條件;2004年，該公司推出雙收雙放電子軸塑凹機(jī)，該產(chǎn)品在高速電子軸凹版印刷機(jī)的基礎(chǔ)上，實(shí)現(xiàn)在不超過設(shè)備總色組數(shù)時，可自由選擇色組應(yīng)用數(shù)，當(dāng)選擇的色組少時，可將一臺機(jī)當(dāng)作兩臺使用，實(shí)際生產(chǎn)過程中具有靈活性，提高了設(shè)備的生產(chǎn)效率;2007年，該公司推出工作速度達(dá)到200m/min的高速精密橫切機(jī)，該產(chǎn)品滿足了國內(nèi)印刷企業(yè)對高速精密橫切機(jī)的需求，推動了國產(chǎn)印后設(shè)備的技術(shù)進(jìn)步，突破國外設(shè)備在這一領(lǐng)域的壟斷局面，同時可與各類凹版印刷機(jī)連線組成連線印刷橫切生產(chǎn)線;2010

In June, at the Beijing international packaging Expo, the company also introduced high-speed electronic shaft driving gravure printing machine with printing speed up to 400m/min. The overall performance of the equipment has been close to the international advanced level.

In addition, the technical center of song de packaging is Guangdong provincial gravure printing and flexo printing equipment engineering technology research and development center. It is also a "municipal enterprise technology center" identified by the Zhongshan Municipal People's government. It has undertaken a number of national, provincial and municipal planning projects.

The projects that have been checked and accepted include Zhongshan -SDFM high speed computer intaglio gravure printing machine, Zhongshan science and technology plan project -SDC series high precision coating machine, etc. the project has completed the Zhongshan science and technology project -SS800 high-speed slash machine project, the national key new product plan project, -SAY high-speed electronic shaft drive gravure press, etc. the projects in execution include Guangdong and Hong Kong's key areas to break through the tender project - digital wide width and high-speed satellite flexographic printing machine, Guangdong Ministry of education production and research cooperation special fund project - wide high-speed tape casting machine.

In terms of supply, song de packaging is also a rare supplier of gravure printing equipment in China.

At present, the main connection technologies include intaglio printing + coating, gravure printing + compounding, gravure printing + cross cutting, gravure printing + cutting, gravure printing + coating + compound + crosscutting, etc. at the same time, the company has successfully launched a wide casting film unit for producing printed material film, and has provided the printing enterprise with the supply capacity of complete sets of equipment such as material production, printing, post printing and finishing.

The supply of complete sets of equipment is the trend of the development of printing equipment industry. With its various types of equipment technology and line production technology, song de packaging has been in the forefront of the domestic complete equipment suppliers, and has obvious competitive advantages.

External opportunities: "replacing imports" will accelerate

Although the market of gravure presses is still dominated by foreign brands, with the continuous development of market economy, especially the rapid development of food, beverages, cigarettes, pharmaceuticals, health products, cosmetics, washing products and clothing industries, the development of domestic enterprises is also amazing under the demand of the huge market in the downstream.

According to the printing machinery association, by the end of 2008, the total number of gravure press manufacturers has exceeded 70.

At the same time, the gap between the production technology and imported equipment of the gravure press is also shrinking rapidly.

Because the performance and stability of the domestic high-end intaglio printing machine is basically the same as that of the imported equipment, it has gradually become the first choice for the gravure printing enterprises in China and Southeast Asia.

According to the printing machinery association statistics, in 2009, China imported 66 gravure press production lines, which dropped by 56.86% compared with 2004, and the trend of "replacing imports" became more and more obvious.

And this "substitution import" process is definitely a good thing for the song de packaging, which is in the leading position of the industry.

First, the technology of products is excellent.

As mentioned above, song de packaging is due to good internal discipline, gravure printing technology and imported equipment.

The second is brand effect.

"Song de" trademark is now a famous trademark in Guangdong Province, "Song de".

Since its establishment, song de packaging has been implementing the strategy of "boutique pine", taking the road of high-end products and paying more attention to the development of high-end market customers.

After years of development, the company has provided intaglio printing machines and complete sets of equipment to more than 400 downstream packaging and printing enterprises. Its customers range from cigarette packaging, wine boxes, medicine boxes, milk bags, cosmetics and other paper packaging and printing, instant noodles, milk powder, beverages, snacks, edible salt, seed packaging and other flexible packaging printing. Printed products include Mengniu, Yili, Kangshifu, Tsingtao Brewery, Xi Zhi Lang, Hualong, Tide, Hongta mountain, carving, Heng Heng, Jinliufu and other famous brands.

It is believed that high-end brand orientation and quality customer resources will play an active role in attracting the new customers than other manufacturers in the process of replacing imports.

Third, cost performance has advantages.

If the product technology and quality are still equal to foreign brands, the company's product price is only equivalent to the 1/3~1/2 advantage of similar products abroad, which will enable the company to stand out in the industry.

Moreover, because the company's products are mainly high-end, the gross margin has not been affected.

In 2010 1~6, 2009, 2008 and 2007, the gross profit margins of paper concave machines were 46.92%, 43.69%, 43.31% and 39% respectively, and the gross margins of plastic concave machines were 30.48%, 29.52%, 37.94% and 33.99%, respectively.

In terms of market size, the market prospect of gravure printing machinery in China is better.

According to the China Packaging Federation statistics, in 2006 ~2008, China's Gravure presses achieved sales revenue of 1 billion 640 million yuan, 1 billion 810 million yuan and 1 billion 780 million yuan respectively, and sales revenue declined in 2008, mainly due to the impact of the international financial crisis.

Apart from domestic sales, China's gravure press has begun to export a lot with its excellent performance price ratio, and its export place has gradually expanded from Southeast Asian developing countries to Europe, the United States, Japan and other developed countries.

According to statistics, in 2009, the export volume of China's gravure printing machine was 19 million 134 thousand US dollars, an increase of 101.71% over 2004 and a compound annual growth rate of 15.07%.

In 2010 1~6, China's gravure printing machine achieved an export of US $12 million 829 thousand and 300, an increase of 78.10% over the same period last year.

Raise investment to release growth space

Song de packaging intends to issue 17 million shares of RMB common stock to the public, accounting for 25.37% of the total share capital issued. The funds raised will be used for all projects of high-speed multi-color printing equipment and R & D centers related to the main business of the company, as well as the working capital needed for the main business development.

Over the years, due to the limited financing channels, the company has not been able to achieve a larger scale expansion. At present, the capacity of the company's paper concave machine is 14, and the capacity of the plastic concave machine is 32.

In 2009, the production and sales volume of the paper concave machine was 20, the output of plastic concave machine was 33, and the utilization ratio of paper packaging and plastic concave machine had exceeded 100%. The shortage of production capacity seriously affected the core competitiveness of the company. If the capacity of the machine could not be expanded rapidly, the company would be faced with the risk of gradual loss of orders when its competitors expanded continuously.

The total investment of high-speed multi-color printing equipment is 128 million 553 thousand yuan, of which 110 million 736 thousand yuan is invested in construction and 17 million 817 thousand yuan is laid off.

The project mainly produces high-speed multicolor gravure press and its complete sets of equipment, including paper packaging, plastic concave machine and its complete sets of equipment. The products are located in the middle and high-end market, and the main uses are flexible packaging printing such as folding carton, decoration and decoration materials, paper packaging printing and plastics.

After the project is released, the new production capacity of the SUNDE packaging paper concave machine will be increased by 21 units (including 12 folding folding boxes, 9 new sets of intaglio press), 35 new and old production capacity, 48 new production capacity, 80 new and old production capacity, and the company's capacity will be greatly improved.

According to the company's estimate, the yield reached 66% in the first year after the project was put into operation, and the yield reached second in second years. The average annual sales revenue increased by 191 million 940 thousand yuan and the average annual net profit was 35 million 30 thousand yuan.

The breakeven point of the project is utilization rate of capacity 50.12%, static investment recovery period of 5.47 years (including construction period), and financial internal rate of return of 21.80%.

The R & D center project is to keep pace with the rapid development of the industry.

Intaglio printing machine industry is a rapidly developing technology industry. Users constantly put forward higher requirements for printing speed, printing accuracy, product automation, environmental protection and so on. The company must always maintain a leading position in technology and constantly launch new products that are suitable for market needs, so as to stabilize and expand the current market share. In addition, the production technology of gravure printing machine in our country still has a certain gap with the advanced manufacturing level of foreign countries in terms of production speed, width, yield and machining accuracy. If the company can not speed up technological innovation and foreign industries take localization strategy, the company will inevitably face more intense competition from domestic and foreign competitors in the future.

Therefore, the R & D center project will be an important strategic step to build the company into a world-class intaglio printing machinery and equipment supplier.

The total investment of the project is 29 million 300 thousand yuan, all of which are construction investment. The main research and development projects are ultra high speed gravure printing machine, ultra wide width movable width gravure printing machine, high-speed solvent-free composite machine, wide flexographic printing machine, and even after machining process matching functions.

If the project is implemented smoothly, it will enhance the R & D strength of the high-end printing equipment in the company, enhance the production technology level of the printing equipment, maintain the leading position of the company's technology, enhance the market competitiveness of the company and improve the profitability of the main products; secondly, the company will set up R & D platform for the ultra-high speed gravure printing machine after the R & D center is completed.