Breaking Down Shenzhen Jinjia Group Co.,Ltd. Financial Health: Key Insights for Investors

From its 1996 founding to becoming China's first listed cigarette packet printer in 2007, Shenzhen Jinjia Group has grown into an industrial hub that mixes traditional packaging with anti-counterfeiting laser materials and overseas expansion-most recently a wholly owned Indonesian subsidiary-while reporting revenue of ¥2.86 billion in 2024 (down 27.58% year‑on‑year) and a net income of ¥71.99 million, operating across an intelligent eco‑park of 250,000 m² and a network of 30+ subsidiaries supported by about 4,204 employees; the company's innovation push is reflected in more than 500 patents and participation in over 30 national standards as it sells packaging for tobacco, wine, food, cosmetics and electronics, exports to 50+ countries (roughly 30% of sales), and navigates share movements and court‑ordered auctions that have influenced its ownership mix.

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ): Intro

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ) is a Shenzhen-based manufacturer and service provider focused on high-end packaging, printing and advanced functional materials for tobacco, consumer electronics, daily chemicals and security applications. The company combines traditional printing and packaging capabilities with laser holography, security labeling and materials R&D.

• Founded: October 1996; began operations in 1997 focusing on cigarette packet printing and high-end packaging.
• Listed: 2007 on the Shenzhen Stock Exchange - noted as China's first listed enterprise in the cigarette packet printing industry.
• Product expansion: By 2016 expanded into electronic consumer goods packaging, daily chemical product packaging and laser holographic materials.
• International expansion: 2025 established a wholly-owned subsidiary in Indonesia to strengthen international sales and local service capability.

History - key milestones

• 1996-1997: Company established and commenced operations in high-end cigarette packing and related material production.
• 2007: IPO on Shenzhen Stock Exchange (002191.SZ), becoming the first listed firm in its domestic cigarette packet printing niche.
• 2010s: Invested in security printing, holographic technologies and upgraded packaging lines for diversified end-markets.
• 2016: Officially broadened product portfolio to include consumer electronics packaging and daily chemical packaging; increased R&D into laser holographic substrates.
• 2024: Reported consolidated revenue of 2.86 billion yuan (a decline year-over-year of 27.58% from 3.95 billion yuan in 2023).
• 2025: Set up a wholly-owned subsidiary in Indonesia to serve APAC customers and localize sales/support.

Ownership & corporate structure

Shenzhen Jinjia Group operates as a publicly listed company on the Shenzhen Stock Exchange (ticker 002191.SZ). Its ownership structure is typical for Chinese mid-cap manufacturers:

• Publicly traded equity with institutional and retail investors holding much of the free float.
• Controlling and large shareholders include company founders, management-related entities and strategic investment vehicles (common for listed Chinese manufacturing groups).
• Board and management oversee subsidiaries handling domestic manufacturing, R&D centers and overseas operations such as the 2025 Indonesia subsidiary.

Mission, vision & core values

The company frames its corporate purpose around quality packaging, security printing innovation and globalized service. See the company's formal statements here: Mission Statement, Vision, & Core Values (2026) of Shenzhen Jinjia Group Co.,Ltd.

How Shenzhen Jinjia Group works - operations and capabilities

• Manufacturing: High-speed gravure and flexographic printing lines, lamination, die-cutting and folding-gluing production cells for boxes and cartons.
• Functional materials: Production of laser holographic films, security substrates and specialty coatings used for anti-counterfeiting and brand protection.
• R&D: In-house teams for substrate formulation, holography, security features, and process optimization to meet tobacco, cosmetics and electronics client specs.
• Sales & distribution: Direct sales to large brand customers, OEM/ODM packaging contracts, and international distribution via subsidiaries and agents (including Indonesia from 2025).
• Quality & compliance: Certification and process controls to serve regulated sectors such as tobacco and consumer healthcare.

How it makes money - revenue streams and business model

• Primary revenue: High-end printed packaging and folding cartons supplied to tobacco brands, electronics OEMs, cosmetics and daily chemical makers.
• Supplementary revenue: Sales of laser holographic materials, security labels and specialty films for anti-counterfeiting applications.
• Value-added services: Design, prototyping, packaging engineering and logistics coordination for large-scale brand rollouts.
• Geographic mix: Domestic PRC sales remain core; overseas expansion (notably Indonesia subsidiary in 2025) aims to grow APAC revenue share and provide local service.

Selected financial and market data

Business risks and operational considerations

• Sector concentration: Historically significant exposure to tobacco packaging-subject to regulatory and demand shifts.
• Commodity and input cost volatility: Paper, inks, films and energy prices directly affect margins.
• Competitive pressure: Domestic and regional packaging specialists and low-cost manufacturers challenge pricing and margins.
• Exchange and international expansion risks: Overseas subsidiaries (e.g., Indonesia) introduce currency, compliance and local market risks.

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ): History

• Largest shareholder (Oct 2023): Shenzhen Jinjia Investment Co., Ltd. - 36.87%.
• Individual major holder: Li Ming - 15.50% (130,000,000 shares).
• State-owned investor: China National Chemical Corporation - 10.25% (90,000,000 shares).
• Other individual shareholders (collective): 37.38% (320,000,000 shares).

• October 2025: Shenzhen Intermediate People's Court announced plan to auction 37.27 million shares held by Jinjia Venture (2.57% of equity) in connection with a loan dispute with Zhejiang Commercial Bank, Shenzhen Branch.
• Auction window: scheduled November 17-18, 2025.

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ): Ownership Structure

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ) is a Shenzhen-headquartered packaging and materials manufacturer focused on premium rigid packaging for tobacco, wine, food and cosmetics. The company's mission and values are oriented toward quality, innovation and sustainability.

Mission and Values

• Mission: provide high-quality packaging solutions that meet aesthetic and functional standards across tobacco, wine, food and cosmetics industries.
• Innovation: sustained R&D investment - company holds more than 500 patents and has participated in drafting over 30 national and industry standards.
• Sustainability: committed to reducing carbon footprint by 20% by 2025 and integrating environmentally responsible materials and processes.
• Recognition: awarded over 200 social and industry honors, including 'Outstanding-Contribution Enterprise in Shenzhen for Thirty Years'.
• Internationalization: exports to 50+ countries, with exports contributing roughly 30% of total sales.

How It Works & Makes Money

Shenzhen Jinjia Group generates revenue by designing, producing and selling high-end packaging products and related services. Core revenue drivers include:

• OEM/ODM packaging orders for tobacco, spirits, cosmetics and luxury consumer goods.
• Value-added services: packaging design, finishing, quality control and supply-chain integration.
• Export sales to global brand owners and distributors across Asia, Europe, Americas and Africa.
• Proprietary materials and coating technologies monetized through premium pricing and standard-setting influence.

For deeper background and a fuller company profile see Shenzhen Jinjia Group Co.,Ltd.: History, Ownership, Mission, How It Works & Makes Money

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ): Mission and Values

• Headquarters: Jinjia Technology Mansion, High-tech Industrial Park, Nanshan District, Shenzhen.
• Corporate structure: Over 30 subsidiaries across Guangdong, Anhui, Guizhou, Chongqing, Jiangsu, Yunnan, Jiangxi, Shandong, Jilin and Hong Kong.
• Workforce: Approximately 4,204 employees focused on design, R&D, production and support services.
• Industrial footprint: An intelligent eco-industrial park covering 250,000 square meters at the Shenzhen headquarters.

• Integrated value chain: combines creative design, materials R&D, printing and converting, quality control, logistics and after-sales support to supply finished packaging products.
• Advanced production: significant investments in high-end printing equipment (digital, gravure, flexo) and automated converting lines to increase throughput and reduce waste.
• R&D-driven product development: in-house labs and cross-subsidiary teams develop barrier materials, coatings and sustainable substrates to meet food safety and environmental standards.
• Sustainability initiatives: energy-efficient processes and waste-reduction programs embedded in the eco-industrial park to lower carbon intensity per unit produced.

• Sales of packaging products: primary revenue from flexible packaging, paperboard cartons, labels and specialty printed materials for food, beverage, electronics and consumer goods.
• Value-added services: custom design, pre-press, prototyping, brand-compliant supply chain services and logistics solutions charged as premium services.
• Contract manufacturing: long-term supply agreements and OEM/ODM arrangements with domestic and international brands.
• Technology licensing and specialized coatings/materials: monetization of proprietary formulations and processes through internal use and external supply.

• Expand intelligent manufacturing and automation to raise yield and reduce unit costs.
• Advance green materials and recycling-compatible packaging to meet tightening regulations and customer demand.
• Broaden value-added service offerings (design, supply-chain integration, digital print customization) to capture higher-margin work.
• Strengthen regional production footprint via subsidiaries to optimize lead times for key customers.

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ): How It Works

• Primary product lines: cigarette labels, luxury wine & spirit boxes, packaging for electronic consumer goods, laser holographic films, and transfer film security materials.
• Customer base: tobacco manufacturers, wine & spirits brands, consumer electronics OEMs/brands, and clients requiring anti-counterfeiting solutions.
• Manufacturing footprint: integrated production lines for printed labels, box assembly, and specialty film extrusion/coating; R&D centers focused on printing technologies and optical security features.

• Sale of finished packaging products - premium labels, luxury boxes and printed components sold B2B to brand owners and OEMs.
• Specialty materials - production and licensing/sales of laser holographic materials and transfer films for anti-counterfeiting and brand protection.
• Value-added services - design, prototyping, customization, and small-batch production for premium and limited-edition packaging runs.
• Export and new market expansion - generating incremental revenue through overseas sales and expanded product offerings leveraging proprietary technologies.

• Margin drivers: premiumization of packaging, anti-counterfeiting film margins, and operational efficiency from integrated manufacturing.
• Cost pressures in 2024 reduced profitability despite ongoing product demand; management emphasized efficiency and innovation to restore margins.
• Growth strategy centers on expanding anti-counterfeiting offerings, moving into higher-value packaging segments, and selective international expansion.

Shenzhen Jinjia Group Co.,Ltd. (002191.SZ): How It Makes Money

• Core revenue streams: packaging (rigid/folded cartons, flexible packaging), labels, promotional print and contract manufacturing for consumer goods brands.
• Value-added services: custom design, supply-chain integration, just-in-time delivery and after-sales quality assurance.
• Exports & international sales: sold in over 50 countries, accounting for roughly 30% of total sales (~RMB 1.26 billion on FY revenue below).

• High-volume printing and packaging contracts with FMCG, electronics and pharma customers lock in multi-year orders and predictable cash flow.
• Product mix optimization: shifting toward higher-margin specialty packaging and eco-friendly substrates to lift gross margin.
• Export diversification reduces single-market risk; international orders contribute a stable foreign-exchange component to top-line.
• Operational investments (automation, digital prepress) reduce per-unit costs and raise throughput, improving EBITDA.

• Leading domestic packaging/printer with recognized credentials and 200+ awards, reinforcing brand trust with major brand owners.
• Continued R&D and eco-material adoption expected to support premium pricing and regulatory compliance in export markets.
• Targets: expand international share beyond 30%, achieve 20% carbon footprint reduction by 2025, and maintain steady R&D reinvestment.