Joyrepak officially listed on the Growth Enterprise Market today, accelerating the upgrade of its customized and recyclable plastic packaging supply chain services.

On December 2, Joyrepak l officially listed on the Growth Enterprise Market. The company issued 25 million shares (accounting for 25.00% of the total shares after the issue) at an offering price of 21.76 yuan per share, raising a total of 544 million yuan. The funds raised will be used for the construction project of producing 2.3 million sets (sheets) of green recyclable packaging, the construction project of green recyclable packaging rental and intelligent warehousing and logistics, and the construction project of the R&D center. By the end of the trading day, Joyrepak was reported at 57.90 yuan, up 166.08%, with a trading volume of 976 million yuan and a turnover rate of 71.08%, an amplitude of 22.98%, and a total market value of 5.79 billion yuan.

According to the information, Joyrepak 's main products include various series of recyclable plastic packaging products, including combination sets of packaging products, thick-walled vacuum packaging units, thin-walled vacuum packaging units, and transportation box packaging units, and it is a service provider that provides customized and recyclable plastic packaging overall solutions. In recent years, Joyrepak has been constantly launching new products with new features and new manufacturing structures in the Automotive industry, from providing customizable recyclable plastic packaging for gasoline vehicles to providing customizable recyclable plastic packaging for new energy vehicles. The company has a diverse range of customizable sets of packaging products, including thick-walled injection molding products, thin-walled injection molding products, tray-type packaging units, and transportation boxes.

At the same time, the company has been expanding into new industry areas and developing new products. In 2019, the company began cooperating with Tesla to provide new energy vehicle battery tray-type packaging products, and aggressively expanded its business in the new energy vehicle industry. It also cooperated with Midea and Baishizhang to provide thick-walled injection molding products and tray-type packaging units, expanding its business into the household appliance manufacturing industry and the daily goods manufacturing industry.

In terms of business performance, publicly available information shows that in 2019 and 2020, Joyrepak achieved revenue of RMB 236 million and RMB 268 million, respectively. Its net profit for the same periods was RMB 52.94 million and RMB 58.23 million, respectively, showing a stable growth pattern. In the first three quarters of 2021, the company achieved revenue of RMB 263 million, an increase of 61.91% over the same period of the previous year; its net profit was RMB 46.56 million, an increase of 15.72%, and it continued to maintain a stable growth trend. In terms of R&D innovation, at present, Joyrepak holds 5 invention patents, 99 utility model patents, and 63 appearance design patents. The company's R&D center has been recognized as a "Provincial High-tech Enterprise R&D Center" and "Ningbo City Enterprise Engineering Technology Center". In the first three quarters of this year, the company's R&D expenses were 6.907 million yuan, up 21% from the same period last year. In addition, in the field of automobile manufacturing and automobile core parts manufacturing, the company's high-value customizable and recyclable plastic packaging products account for a relatively high proportion of sales, and the gross profit margin has long maintained at around 40%.

Joyrepak Chairman Luo Zhiqiang told China Securities Journal in an interview that the company has been constantly innovating in terms of concept, technology, and product since its establishment. Through continuous product innovation, the company has gradually upgraded from a single packaging product manufacturer to a customizable and recyclable plastic packaging overall solution service provider, with an increasingly diverse product portfolio and growing business scale, further enhancing its industry reputation.