JinJia Stock Reports Decrease in Revenue and Profits

Jinjia Group released its semi-annual performance report on August 26, stating that its operating income for the first half of 2023 amounted to approximately CNY 2.033 billion, representing a year-on-year decrease of 23.09%. The net profit attributable to the shareholders of the listed company was approximately CNY 280 million, down 44.02% compared to the previous year.

The report states that Jiang Jia Holdings' main products include high-tech and high-value cigarette labels, high-end packaging for well-known consumer brands, laser paper/film, packaging new materials such as cigarette film, as well as new types of tobacco products.

From the perspective of its main operations, Jingjia Corporation performed as follows during the reporting period:

The revenue from cigarette label products decreased by 25.23% compared to the same period last year, while the revenue from color box products decreased by 19.31%. Additionally, the revenue from packaging new materials decreased by 28.51% compared to the previous year. On the other hand, the revenue from new tobacco business achieved a remarkable growth of 81.77% compared to the same period last year.

Jingjia Group's consumer goods packaging primarily caters to niche tobacco products, e-cigarettes, alcoholic beverages, consumer electronics, beauty and personal care products, food, and pharmaceuticals. It provides renowned companies in the tobacco and related industries with packaging product design, development, and delivery services. Some of its consumer goods packaging partners include Yueke, IMiracle (Heaven Gifts), British American Tobacco, Imperial Tobacco, and PMI Tobacco.

In the field of new tobacco business, Jingjia Holdings primarily engages in ODM/OEM services for aerosol e-cigarette products, while also developing a brand business and expanding into the raw material end of the non-burning tobacco fragrance and e-cigarette e-liquid industries, thus extending the service supply chain. The company's sales targets for the new tobacco raw material products and supply chain services are domestic cigarette clients, as well as both domestic and international e-cigarette brand clients. Production is organized according to customer requirements for appearance, technology, quantity, etc., based on orders.

On Monday, August 28th, Jinjia Corporation (002191) experienced a 2.15% surge in its stock price, reaching 6.53 yuan.