Meiyingsen earns 4 billion annually, overseas business surges 30%, how to win in the global market?
On the evening of April 2, Meiyingsen Group Co., Ltd. officially disclosed its 2025 annual report. This report is not only a series of financial figures, but also an in-depth answer sheet handed over by the veteran packaging giant through strategic shifting, technological innovation and organizational evolution under the dual attack of "domestic pressure" and "overseas growth". Behind the stabilization of revenue fundamentals, the accelerated release of overseas production capacity, and the deep empowerment of AI technology, Meiyingsen is showing a resilience beyond the cycle and the ambition to transform from "traditional manufacturing" to "intelligent services".
2025 is a very testing year for Meiyingsen. During the reporting period, the company achieved operating income of 3.97 billion yuan, a slight decrease of 0.92% year-on-year; net profit attributable to shareholders of listed companies was 261 million yuan, down 7.34% year-on-year; net profit after deducting non-recurring gains and losses was 269 million yuan. Although there has been a certain℃of fluctuation in profit indicators in the context of macroeconomic fluctuations, Meiyingsen still stabilized the fundamentals of the overall operation.
An in-depth analysis of operating results shows that the change in profit is not entirely due to the weakness of the main business, but is disturbed by some special external factors. For example, during the reporting period, the company's rental income and government subsidies decreased by 24.8428 million yuan year-on-year, while the losses caused by changes in the fair value of investment real estate also decreased by 28.9627 million yuan year-on-year.
However, from the perspective of the industry, the cornerstone of Meiyingsen is still solid, with the revenue of the paper products industry reaching 3.821 billion yuan, contributing 96.23% of the total revenue. Among them, light packaging products accounted for half of the country with a revenue of 2.269 billion yuan, and heavy packaging and third-party procurement business formed a strong support, demonstrating the company's comprehensive coverage ability in the whole packaging industry chain.
In the strategic map of 2025, the most eye-catching thing is Meiyingsen's great leap forward on the road of "globalization". In the face of the phased pressure of the domestic market, Meiyingsen firmly implemented the dual circulation strategy of "taking the domestic base as the main body and promoting each other with domestic and international bases", which showed a strong anti-risk value during the reporting period.
The company's overseas business has achieved rapid growth in 2025 and has become a key fulcrum to ensure the steady development of the group. In 2025, the company's export sales will reach 1.404 billion yuan, a significant increase of 29.74% over the previous year.
It is particularly noteworthy that the successful commissioning of the new plant in Mexico marks a qualitative leap in Meiyingsen's "end-to-end" service capabilities in the North American market. This localized production not only shortens the lead time, but also penetrates deeper into the supply chain core of the world's top customers.
At the same time, the release of production capacity at overseas bases such as Vietnam and Thailand is also steadily advancing. This global layout is not a simple capacity transfer, but a higher-dimensional synergy: the domestic base continues to export professional and technical personnel and mature management experience to overseas factories, playing the role of "incubation center"; Overseas factories, on the other hand, have significantly reduced operating costs by improving the level of localized management.
On the topic of cost reduction and efficiency increase, which is a common concern in the manufacturing industry, Meiyingsen put forward a set of highly enlightening "cost philosophy" in 2025. The company does not advocate blind reduction in spending, but advocates "the province of the province, the flower of the flower". Through strict budget implementation, refined inventory management and capacity layout optimization, Meiyingsen will accurately invest every penny "picked" from the management details into key areas of R&D and sales support.
This investment in innovation is strongly supported by the data. As of the end of the reporting period, Meiyingsen and its subsidiaries have 909 national patents, including as many as 175 invention patents with extremely high gold content. The company is not only the setter of 47 packaging industry standards, but also its R&D team shines on the international stage, winning 6 muse design awards in one fell swoop.
More forward-looking, Meiyingsen has begun to use AI technology platforms to empower designs and obtained corresponding intellectual property rights. Through core technologies such as AI-assisted design and finite element analysis, the company has not only greatly improved the speed of responding to customers, but also formed an industry-leading moat in structural innovation and material utilization. This transformation from "sweat-driven" to "wisdom-driven" is the specific practice of new quality productivity in the packaging industry.
Multi-point flowering business performance
The overall resilience of Meiyingsen stems from the strong combat capabilities of its major subsidiaries in different economic regions. During the reporting period, the performance of several ace subsidiaries had their own merits, jointly building a solid performance foundation for the group.
Turning its attention to the Yangtze River Delta, Suzhou Meiyingsen contributed a net profit of up to 85.42 million yuan with a revenue of 716 million yuan, and the net profit margin level remained in the excellent range of about 12%, fully reflecting its excellent strength in high-end customer service and refined operation. In the Guangdong-Hong Kong-Macao Greater Bay Area, Dongguan Meiyingsen, as an important production hub, achieved revenue of 761 million yuan and net profit of 39.35 million yuan.
Chongqing Meiyingsen in the Chengdu-Chongqing Economic Zone maintained a small but beautiful state, with revenue of 195 million yuan, net profit of about 16.68 million yuan, and a net profit margin of 8.56%. These sub-positions, which are rooted in China's most economically active regions, have deepened the concept of "customer-centric" and tapped the potential of leaders in consumer electronics, daily chemicals, liquor and other sub-industries, ensuring that they can still maintain high-quality profitability levels in the fierce market competition.
Keep upright and do it, and be born upwards in high-quality development
Entering 2026, Meiyingsen will set the tone of development as "keeping upright and doing what you do, and being born upward". In the next strategic planning, the company will continue to focus on the main business of packaging and deeply help the development of new quality productivity.
In the domestic market, the company will strive to achieve "stop falling and rebounding" of business by deeply cultivating existing customers and seizing market segment opportunities; In the international market, relying on the established global production capacity network, we will accelerate the release of production capacity at home and abroad bases and challenge higher growth goals.
In the future, Meiyingsen will no longer be just a manufacturing plant, but a comprehensive packaging service platform integrating global supply, intelligent design and lean operation. The company will continue to seize the opportunities brought by Chinese-style modernization and the "Belt and Road", and maintain vigilance against market risks while focusing on domestic and international dual circulation.
Through continuous R&D investment, process restructuring, and continuous improvement of employee incentive mechanisms, Meiyingsen is committed to giving back to shareholders and society with better performance, continuous value sharing and standardized governance models, and writing a thicker chapter on the road to the global leading position in the packaging industry.