P&G Packaging Supplier ZRP Posted Revenue of $358.54 million
- Chaileedo Press
- Apr 24, 2023
- 2 min read
Updated: Apr 26, 2023
ZRP Printing Group Co., LTD (hereinafter referred to as ZRP), the packaging suppliers of P&G and L’Oréal reported revenue of 2.473 billion yuan ($358.54 million) in 2022, down 2.77% compared to 2021.
On April 23, ZRP Printing Group Co., LTD (hereinafter referred to as ZRP), the packaging suppliers of P&G and L’Oréal released the 2022 annual report, which is also its first financial report since its listing in October last year.
In 2022, ZRP reported revenue of 2.473 billion yuan ($358.54 million), a year-on-year decrease of 2.77%. The net profit attributable to the shareholders of the listed company reached ¥214 million ($31.03 million), saw growth of 0.7%.
According to the previous prospectus, P&G was ZRP largest customer. From 2019 to 2021, ZRP sold products worth 480 million yuan ($69.59 million), 470 million yuan ($68.14 million), and 530 million yuan ($76.84 million) to P&G, respectively. However, in 2022 annual report, ZRP stated that it has applied for exemption from disclosing the names of its top 5 customers due to commercial secrets.
In 2022, ZRP sold products worth 522 million yuan ($75.68 million) to its largest customer, accounting for 21.09% of its total annual sales. Followed by was 159 million yuan ($23.05 million) and 148 million yuan ($21.46 million) to its second and third largest customers, respectively, accounting for 6.44% and 6%.
In terms of main products, the revenue of folding cartons decreased by 1.68% to 1.885 billion yuan ($273.31 million), accounting for 76.23% of the company’s total revenue. The revenue of gift boxes reached 206 million yuan ($29.87 million), accounting for 8.34% of the total revenue, down 20.04%. The revenue of other printing and packaging products was 336 million yuan ($48.72 million), accounting for 13.6%, an increase of 2.62% from last year.
ZRP stated that in 2023, in some segmented fields such as the oral care product industry, the company will cooperate with leading enterprises in the segmented fields to establish industry product standards. Based on its existing advantageous business portfolio, the company will continue to increase its efforts to develop new customers and follow the trend of global manufacturing transfer. The company plans to build factories in Southwest China, Central China, and Southeast Asia, and deepen its strategic cooperation with some international brand customers.
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