A-share subscription | Fulink shares (001356.SZ) open for purchase, ranking among the top ten enterprises in China's light industry plastic industry.

On January 14th, Fuling Plastics Co., Ltd. (001356.SZ) began its IPO subscription at a price of 5.30 yuan per share, with a maximum subscription limit of 37,500 shares. The price-to-earnings ratio is 14.48 times, and it is listed on the Shenzhen Stock Exchange, with Dongxing as the sponsor (lead underwriter). According to the prospectus, Fuling Plastics Co., Ltd. is a high-tech enterprise mainly engaged in the research, development, production, and sales of plastic tableware and biodegradable tableware materials. The company is a leading manufacturer of plastic tableware in China, a national-level manufacturing single champion demonstration enterprise, and an industrial product green design demonstration enterprise. The company's products mainly include plastic and biodegradable tableware, such as knives, forks, spoons, straws, cups, plates, cup lids, packaging boxes, packaging bowls, and paper products (paper cups and paper straws). The company's products can be used for both dining in restaurants and for takeout, offering convenience and quick service, belonging to the fast-moving consumer goods sector. The company belongs to the daily plastic products industry within the plastic products industry. There are many small and medium-sized enterprises in the daily plastic products industry, with relatively few large-scale enterprises, low industry entry barriers, and low industry concentration. Many small and medium-sized enterprise products are homogeneous, and in the domestic market, competition between enterprises mainly revolves around pricing for market share. The company and other leading companies in the industry, such as Ningbo Homelink Eco-iTech, have large production scales, strong automation levels, technological research and development capabilities, and product design abilities. Their products are of high quality and can meet customer customization requirements, establishing good cooperative relationships with large domestic and foreign retailers, restaurants, and distributors. These leading companies in the industry have strong competitiveness, but their market share is relatively low. In recent years, with the continuous increase in labor costs and the tightening of environmental policies, small and medium-sized enterprises in the industry have been greatly impacted, and outdated manufacturers will gradually be phased out. Leading companies in the industry, relying on economies of scale and high levels of automation, are expected to gradually increase their market share, and industry concentration is expected to increase. Fuling Plastics Co., Ltd. is a leading manufacturer of plastic tableware in China, and a national-level manufacturing single champion demonstration enterprise for environmentally friendly plastic tableware (awarded by the Ministry of Industry and Information Technology of China). The company was ranked among China's top ten companies in the plastics industry in 2022, and was also among the top ten companies in the Chinese plastics industry (plastic household) in 2019, 2020, 2021, and 2023. In 2022, the company was among the top ten companies in the Chinese biodegradable plastics industry. In terms of finances, in 2021, 2022, 2023, and the first half of 2024, the company achieved operating income of approximately 1.458 billion yuan, 2.154 billion yuan, 1.889 billion yuan, and 1.099 billion yuan respectively. During the same period, the net profits were approximately 116 million yuan, 253 million yuan, 215 million yuan, and 109 million yuan respectively.