Next, let’s take a closer look at Fuling’s business situation
Posted: Tue Feb 11, 2025 5:56 am
Fuling Co., Ltd. was established in 1992 and is headquartered in Taizhou City, Zhejiang Province. The actual controllers of the company are Jiang Guilan and Hu Gan. Prior to this issuance, Jiang Guilan and Hu Gan controlled a total of 85.44% of the company's voting shares through Zhenlong Intelligence and Yisheng Consulting.
The company is mainly engaged in the research and development, production and sales of plastic tableware and biodegradable tableware. Its main products include knives, forks, spoons, straws, water cups, small measuring cups, plates, cup lids, take-out boxes, take-out bowls, paper products (paper cups and paper straws), etc.
Some of the company's products, source: prospectus
From January to June 2024, the revenue from plastic tableware office 365 data products accounted for 70.36% of the company's main business revenue, biodegradable tableware accounted for 5.89%, and paper products and others accounted for 23.75%.
Therefore, Fuling’s operating performance is mainly affected by factors such as changes in U.S. market demand and fluctuations in the RMB/USD exchange rate. A decline in U.S. market demand will lead to a decrease in the company’s orders, and an appreciation of the RMB exchange rate will lead to a decrease in the company’s RMB revenue, a decrease in exchange gains or even exchange losses.
In 2023, demand from overseas customers declined, causing the company's performance to decline to a certain extent. From January to June 2024, the company's operating performance resumed growth, mainly due to the continued growth in demand for tableware from domestic tea beverage companies and the resumption of growth in demand for plastic tableware from overseas customers.
The company's main financial data, source: prospectus
From January to September 2024, Fuling’s operating income was 1.706 billion yuan, an increase of 27.71% over the same period last year. From January to September 2024, the company realized a net profit attributable to the parent company’s owners of 164 million yuan, an increase of 0.46% over the same period last year.
The company is mainly engaged in the research and development, production and sales of plastic tableware and biodegradable tableware. Its main products include knives, forks, spoons, straws, water cups, small measuring cups, plates, cup lids, take-out boxes, take-out bowls, paper products (paper cups and paper straws), etc.
Some of the company's products, source: prospectus
From January to June 2024, the revenue from plastic tableware office 365 data products accounted for 70.36% of the company's main business revenue, biodegradable tableware accounted for 5.89%, and paper products and others accounted for 23.75%.
Therefore, Fuling’s operating performance is mainly affected by factors such as changes in U.S. market demand and fluctuations in the RMB/USD exchange rate. A decline in U.S. market demand will lead to a decrease in the company’s orders, and an appreciation of the RMB exchange rate will lead to a decrease in the company’s RMB revenue, a decrease in exchange gains or even exchange losses.
In 2023, demand from overseas customers declined, causing the company's performance to decline to a certain extent. From January to June 2024, the company's operating performance resumed growth, mainly due to the continued growth in demand for tableware from domestic tea beverage companies and the resumption of growth in demand for plastic tableware from overseas customers.
The company's main financial data, source: prospectus
From January to September 2024, Fuling’s operating income was 1.706 billion yuan, an increase of 27.71% over the same period last year. From January to September 2024, the company realized a net profit attributable to the parent company’s owners of 164 million yuan, an increase of 0.46% over the same period last year.