Jingjia Corporation Expects 70-80% Profit Decline in 2022

Feb.06.2023
Jingjia Corporation Expects 70-80% Profit Decline in 2022
Packaging company Jinka's 2022 net profit may fall 70-80% YoY due to macroeconomic factors, reduced sales and asset write-offs.

Recently, Jingjia Co., Ltd. released a earnings forecast, stating that the net profit attributable to shareholders of the listed company is expected to be approximately RMB 204 million to 306 million in 2022, representing a year-on-year decrease of 70% to 80%.


Source Image: Jingjia Corporation


The main reason for the change in performance is:


Due to factors such as fluctuations in the global and domestic macroeconomic conditions and increased competition in the market, the sales and prices of the company's primary products have experienced a decline, leading to a decrease in profitability.


According to Regulation No. 8 on Accounting Supervision Risk Warning - Impairment of Goodwill, and taking into account factors such as market competition and actual operational conditions, the company will provision for impairment of goodwill in the asset group of its subsidiary, Jiangsu Shuntai Packaging Printing Technology Co., Ltd., based on the principle of prudence. The estimated amount provisioned is between RMB 300 million and RMB 400 million.


During this reporting period, the estimated amortization of share-based compensation expenses resulting from the implementation of a restricted stock incentive plan amounted to 66.16 million RMB, with an expected amount of 17.73 million RMB for the year 2021.


In 2021, the company changed the classification of its equity holdings in Shenzhen Huada Beidou Technology Co., Ltd. from long-term investments to financial assets held for trading, which were subsequently measured at fair value. This resulted in investment income and fair value changes amounting to RMB 94,521.5 million, which is considered as non-recurring gains and losses. It is expected that the impact of these gains on the current reporting period will be minimal.


In 2021, the company gained investment returns of RMB 58.48 million due to the step-by-step merger of Qingdao Inno Packaging Technology Co., Ltd., and an investment return of RMB 21.12 million from the disposal of equity in Qingdao Jiayi Ze Printing and Packaging Co., Ltd. These incomes were classified as non-recurring gains and losses and were not applicable in this reporting period. The fair value changes of the original equity were included in the investment income amount.


Shenzhen Jinjia Group is a leading modern large-scale comprehensive packaging industry group in China, with top production scale, research and innovation capabilities, and core competitiveness. The company currently has 18 production bases nationwide, producing high-tech and high value-added tobacco labels and products, premium packaging for well-known consumer brands, and new packaging materials such as laser paper/film and tobacco film.


References:


Shenzhen Jingjia Group Co., Ltd. releases 2022 performance forecast.



Disclaimer

This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.

Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.

The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.

This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.

 

Copyright Notice

This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.

No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.

For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.

 

AI-Assisted Translation and Editing Notice

Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.

Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.

China STMA Deputy Administrator Meets KT&G COO as Heated Cigarette Rules Advance
China STMA Deputy Administrator Meets KT&G COO as Heated Cigarette Rules Advance
Wang Gongcheng, deputy administrator of China’s State Tobacco Monopoly Administration, met KT&G Chief Operating Officer Lee Sang-hak in Shanghai on September 1, according to Oriental Tobacco News. The meeting comes as China seeks public comment on a draft mandatory national standard for heated cigarettes. The report did not disclose the subjects discussed or indicate whether heated tobacco products or market access were addressed.
News
Sep.02
JTI Liggett Puts U.S. Value Cigarette Brands in Spotlight at 2026 NACS Show
JTI Liggett Puts U.S. Value Cigarette Brands in Spotlight at 2026 NACS Show
At the 2026 NACS Show in Las Vegas, JTI Liggett highlighted its value-priced cigarette portfolio, including LD and Montego, following JT Group's acquisition of Vector Group. The company's U.S. business reported market share gains, with LD sales volume rising 32.6% in the first half of 2026. Meanwhile, Ploom was displayed separately at Altria's booth under an existing partnership. JTI Liggett booth staff told 2Firsts that the company had not yet launched nicotine pouch products in the United States.
EXPO
Oct.09
India Duty-Free Nicotine Pouch Sales Face Regulatory Test as ZYN, FOX Classification Remains Open
India Duty-Free Nicotine Pouch Sales Face Regulatory Test as ZYN, FOX Classification Remains Open
The Bombay High Court has ruled that airport duty-free shops are not exempt from India's domestic regulatory laws merely because they operate beyond the customs barrier, leaving in place a sales halt covering ZYN and FOX nicotine pouches at Mumbai's international airport. The court, however, did not determine that the products necessarily qualify as "drugs" under India's Drugs and Cosmetics Act. The retailers have four weeks to submit product information to the appropriate authorities, including CDSCO, which must complete its review within 30 days of receiving the submissions.
Sep.24
Philippines BIR Steps Up Illicit Vape Enforcement Ahead of Christmas Shopping
Philippines BIR Steps Up Illicit Vape Enforcement Ahead of Christmas Shopping
The Philippines’ Bureau of Internal Revenue is intensifying enforcement against illicit vape and tobacco products ahead of the Christmas shopping season, directing regional and enforcement offices to strengthen monitoring of production sites, warehouses, distribution channels and retail outlets. The BIR destroyed 240,550 illicit vape products in August with an estimated tax liability of about PHP1.53 billion. A nationwide tax-compliance operation in July also inspected 3,590 businesses involved in tobacco and vapor products.
Regulations
Sep.17 by 2Firsts Perspectives
PMI Pushes Smoke-Free Business in Latin America as Argentina Lifts Heated Tobacco Ban, Mexico City Share Tops 7%
PMI Pushes Smoke-Free Business in Latin America as Argentina Lifts Heated Tobacco Ban, Mexico City Share Tops 7%
Philip Morris International (PMI) showcased IQOS heated tobacco systems and nicotine pouch products at Technovation 2026 in Buenos Aires on October 7–8, presenting research on consumer attitudes, regulatory developments and illicit cigarette trade across Latin America. PMI Chief Global Growth Officer Stefano Volpetti said smoke-free products accounted for more than 7% of the Mexico City market. Argentina repealed its heated tobacco ban in May 2026 and introduced registration requirements for tobacco and nicotine products, while local media reported nicotine pouch sales in Mendoza. A PMI-commissioned survey found that only 8% of respondents across four Latin American countries were familiar with nicotine pouches. A separate KPMG study estimated illicit cigarette consumption at 77 billion sticks across 11 markets in Latin America and Canada in 2025.
PMI
Oct.13
From Vuse, Velo and glo to AI Consulting: Former BAT Content Lead Launches Destreza
From Vuse, Velo and glo to AI Consulting: Former BAT Content Lead Launches Destreza
Former BAT global content lead Andy Parton has left the company and launched Destreza, a London-based AI-native marketing consultancy. Parton previously worked across BAT's New Category brands Vuse, Velo and glo and had also served as Global Brand Lead for Vuse Go. Destreza says it will advise consumer businesses on AI in brand strategy, operating models, capability and agency configuration, using specialist AI agents to support research, strategy and creative development. BAT reported £3.621 billion in New Category revenue in 2025.
Sep.22