The real differentiator is not the equipment list, but which supplier customers call first when a difficult order arrives.
Printing and Packaging Company Review / PRINTING & PACKAGING STUDY
China’s Top 20 Printing and Packaging Companies: What Makes Them Strong?
Why Do Customers Keep Coming Back?
20 core samples · 1 industrial collaboration case · Six manufacturing pathways advancing high-quality development in packaging
20 core research samples · RMB 70.867 billion in aggregate under the published ranking methodology · 80.67% of the revenue represented by the 30 candidate companies
Research materials |Compiled by BIOTEN Packaging Research.
Research question | What is a customer really buying with a packaging order?
Why do some companies repeatedly enter customers’ procurement shortlists even when they do not have the broadest product range? Why do others own extensive equipment yet still face pressure on profit and cash flow? The difference usually lies not in the product names, but in the manufacturing interface.
Corrugated cases, folding cartons, films, cans, cups and labels are only the visible products. What customers actually pay for is whether a new product can reach production faster, whether their lines can run reliably, whether quality issues can be resolved promptly, and whether peak-season and urgent orders can be delivered on time.
To assess a packaging company, therefore, the first question should not be “How many products can it make?” but:How much trial and error, downtime and delivery risk does it remove for customers?
This study follows a single chain of logic:Product format → manufacturing interface → customer value → continued selection. The six capabilities show where each company is strong; the six manufacturing pathways explain where those advantages are created; and the four value signals indicate whether those capabilities are translating into enduring customer relationships.
From the 30-company candidate pool in a published reproduction of the ranking, this study selects 20 companies. Based on recalculated 2025 product sales revenue disclosed in that source, the 20 generated a combined RMB 70.867 billion, representing 80.67% of the amount attributed to the original 30-company sample. Thirteen have both financial and business evidence, two have limited financial indicators, and five are included primarily for business evidence that rounds out the manufacturing pathways.
Methodology note |“Top 20” is used here as an editorial shorthand for the 20 core research samples. It is not the official top 20 in the published ranking, nor is it a ranking of market share, technological capability or supplier qualification.
Core conclusion | Keep complexity inside the factory and give customers confidence
These 20 companies follow different paths, but they share six capabilities:
1. Turn materials into solutions. Paper, film, containers, closures, labels and functional layers are not sold in isolation; they are engineered into complete structures that can be mass-produced.
2. Turn prototypes into volume production. After sampling, a design must still pass through printing, lamination, forming, filling and actual production-cycle requirements.
3. Integrate packaging into customer processes. From brand launches and industrial filling to multi-SKU retail operations and pharmaceutical batches, packaging becomes part of the customer’s business process.
4. Turn a multi-site network into on-time delivery. Regional networks, supply-chain coordination and digital systems must ultimately support reliable fulfilment.
5. Turn quality into traceability. Testing, anti-counterfeiting, variable data, batch identification and product identity information are becoming new customer interfaces.
6. Convert capabilities into durable business. Professional capabilities must ultimately show up in repeat orders, margins, cash flow and capacity efficiency.
Value framework | Four signals that show whether capabilities are becoming durable business
Four signals help determine whether a packaging company’s capabilities are translating into long-term value:
Products run reliably |Yield, first-pass yield, defect rate and breakage rate.
Projects arrive on time |Capacity utilization, line speed, on-time delivery and changeover time.
New products launch quickly |Continuity of supply, new SKUs, repeat purchases and order renewals.
Partnerships endure |Segment margins, operating cash flow, and the quality of receivables and inventories.
These signals are not interchangeable. High revenue does not prove stable quality; large capacity does not prove high utilization; and a broad technology portfolio does not prove that customers are buying repeatedly.
Research boundary | “Top 20” is a research title, not an official ranking
The candidate pool comes from a published reproduction of the “2026 Top 100 Printing and Packaging Companies in China,” ranked by 2025 sales revenue or product sales revenue. The core 20 are research samples selected for scale, strength of evidence and coverage of manufacturing pathways. They do not constitute a ranking of market share, technology, supplier qualification or food-contact compliance.
Industry context | When profits are under pressure, customer value matters even more
According to China’s National Bureau of Statistics, in the first half of 2026 the printing and recorded-media reproduction sector generated RMB 297.12 billion in revenue, up 0.9% year on year; operating costs were RMB 248.21 billion, up 1.1%; and total profit was RMB 11.98 billion, down 13.8%. This statistical category is not the same as the packaging industry and cannot be added to the ranking data, but it makes one point clear: revenue can still grow even as profit becomes harder to protect.
Conditions like these reveal which companies truly possess structural engineering, scale-up, delivery and customer-coordination capabilities. YUTO TECH. generated RMB 2.737 billion in operating cash flow in 2025; ZRP recorded year-on-year growth in revenue, profit and operating cash flow in the first quarter of 2026; and Donggang’s smart-card and RFID product revenue rose 60.66%. Each reflects a different source of value: scaled delivery, flexible response and information-enabled growth.
Research source:National Bureau of Statistics data on industrial enterprises above designated size for the first half of 2026
Main analysis | What distinguishes China’s 20 core samples?
A
MANUFACTURING TRACK · CAPABILITY PATH
Manufacturing Path A | Brand and consumer packaging: turning creativity into reliable mass production
Brand packaging is not won through a single prototype. The real test is whether a new product can be reproduced consistently across batches, factories and markets.
01
COMPANY CASE
Case 01 | YUTO TECH.: making global delivery a source of brand certainty
Public information |No. 1 in the candidate pool, with paper packaging, molded fiber, flexible packaging, labels and functional materials.
Recent developments |In 2025, revenue was RMB 17.238 billion, net profit attributable to shareholders was RMB 1.592 billion, operating cash flow was RMB 2.737 billion, and overseas revenue reached RMB 6.131 billion.
Customer value |Coordinated design, materials and multi-region manufacturing allow brands to replicate new products more quickly across markets.
Indicators to watch |Utilization at overseas sites, new SKUs, business margins and operating cash flow.
Research source:YUTO TECH. 2025 Annual Report
02
COMPANY CASE
Case 02 | ZRP: flexible manufacturing that accelerates brand iteration
Public information |No. 7 in the candidate pool, centered on paper-based consumer packaging, R&D and cross-site manufacturing.
Recent developments |In 2025, revenue was RMB 3.167 billion, net profit attributable to shareholders was RMB 153 million and operating cash flow was RMB 339 million. All three continued to grow year on year in the first quarter of 2026.
Customer value |Digital printing and structural development provide a strong platform for short runs, multiple versions and rapid replenishment.
Indicators to watch |Sampling lead time, first-pass yield, production margin and repeat orders.
Research source:ZRP 2025 Annual Report; ZRP digital-printing materials
03
COMPANY CASE
Case 03 | MYS Group: turning industrial packaging into a one-stop solution
Public information |No. 4 in the candidate pool, with a broad offering spanning light- and heavy-duty packaging, labels, materials and packaging services.
Recent developments |Net profit attributable to shareholders was approximately RMB 261 million in 2025.
Customer value |Heavy-duty packaging, structural design and supply-chain services are combined through a single interface, reducing coordination costs for industrial customers.
Indicators to watch |Segment margins, project utilization, receivables and cash flow.
Research source:MYS Group 2025 profit-distribution announcement
04
COMPANY CASE
Case 04 | JIHONG CO: building clear growth units across packaging categories
Public information |No. 10 in the candidate pool. Packaging revenue was RMB 2.345 billion, including RMB 1.218 billion from folding cartons and corrugated cases.
Recent developments |The packaging business recorded a gross margin of 20.69% in 2025. Group operating cash flow was RMB 261 million, down 32.45% year on year.
Customer value |Distinct business units for folding cartons, food packaging and paper bags enable more focused product responses in different applications while making the value of each category more visible.
Indicators to watch |Packaging-segment margin, repeat orders, cash contribution and new-product introductions.
Research source:JIHONG CO 2025 Annual Report
B
MANUFACTURING TRACK · CAPABILITY PATH
Manufacturing Path B | Corrugated and industrial packaging: turning regional networks into on-time delivery
The value of industrial packaging is often embedded in delivery distance, production cadence, transport damage and peak-season responsiveness.
05
COMPANY CASE
Case 05 | Hexing Packaging: using a nationwide network to protect delivery radius
Public information |No. 2 in the candidate pool, principally engaged in corrugated cases, corrugated board, cushioning packaging and related printed products.
Recent developments |In 2025, revenue was RMB 10.194 billion, down 11.13%; net profit attributable to shareholders was RMB 103 million, up 10.61%; and operating cash flow was RMB 258 million, down 53.07%. In the first quarter of 2026, revenue grew 7.04%, while profit and cash flow remained in an adjustment phase.
Customer value |An extensive regional delivery network gives customers greater access to nearby production, rapid response and reliable supply.
Indicators to watch |Site utilization, on-time delivery, unit margin and operating cash flow.
Research source:Hexing Packaging 2025 Annual Report; Hexing Packaging First Quarter 2026 Report
06
COMPANY CASE
Case 06 | Forest Packaging: a solid integrated platform across paper, board and boxes
Public information |No. 11 in the candidate pool, with products spanning packaging paper, corrugated board and corrugated cases.
Recent developments |The 2025 annual report continued to disclose production and sales trends for high-strength corrugating medium, corrugated board and corrugated cases.
Customer value |Coordination across packaging paper, corrugated board and box converting strengthens cost pass-through, quality continuity and regional delivery.
Indicators to watch |Inventory turnover, capacity utilization and packaging-segment margins.
Research source:Forest Packaging 2025 Annual Report
07
COMPANY CASE
Case 07 | International Jifeng: winning orders through on-site heavy-duty packaging expertise
Public information |No. 13 in the candidate pool, offering corrugated cases, paper pallets, displays, heavy-duty and specialty packaging, and corrugated board.
Recent developments |Order volume reached a record high in 2025. Revenue was RMB 2.092 billion and the overall gross margin was 13.2%. Under pressure from paper costs and selling prices, revenue fell 1.9% year on year and gross margin declined by 2.0 percentage points, resulting in an interim loss of RMB 44 million. Even so, operating cash flow remained positive at RMB 227 million. The Chongqing plant began operations in December 2025.
Customer value |Heavy-duty structural expertise and regional delivery close to customers allow the company to work directly at industrial sites and solve transport, protection and loading challenges.
Indicators to watch |Unit selling prices, paper-cost pass-through, ramp-up of the new plant, damage rates and operating cash flow.
Research source:International Jifeng Packaging Group 2025 Annual Report
08
COMPANY CASE
Case 08 | Herui Packaging: making smart manufacturing the foundation of regional delivery
Public information |No. 14 in the candidate pool, covering paper packaging, plastic packaging, labels and decorative packaging printing.
Recent developments |A government report cited the company as saying that its unmanned production line had exceeded daily capacity of 2 million cartons. A digital-upgrade project also appeared on a proposed 2026 subsidy list.
Customer value |Parallel capabilities in paper, plastics and labels, combined with MES and unmanned production lines, provide regional customers with a faster and more reliable fulfilment platform.
Indicators to watch |Actual utilization, project commissioning, revenue by category and cash collection.
Research source:Yinchuan Municipal People’s Government report; proposed project-subsidy list
C
MANUFACTURING TRACK · CAPABILITY PATH
Manufacturing Path C | Functional materials and flexible packaging: turning material properties into complete structures
Barrier performance, heat sealability, lamination and lightweighting create customer value only when engineered into a complete structure.
09
COMPANY CASE
Case 09 | Huangshan Novel: engineering material performance into complete flexible-packaging structures
Public information |No. 5 in the candidate pool, covering vacuum metallization, multifunctional films, printed laminates, paper-based laminates and pharmaceutical packaging materials.
Recent developments |The 2025 annual report continued to break down operations across packaging materials, printed packaging, metallized products and flexible-packaging films.
Customer value |Coordination across printing, metallization, lamination and film production creates a complete manufacturing platform for high-barrier, lightweight and optimized multilayer structures.
Indicators to watch |Barrier and heat-seal testing, yield, category-level margins and repeat orders.
Research source:Huangshan Novel 2025 Annual Report
10
COMPANY CASE
Case 10 | Zijiang Enterprise: a multi-material platform for complete packaging systems
Public information |No. 3 in the candidate pool, with PET bottles, closures, labels, laminated packaging, paper packaging and functional films.
Recent developments |Public disclosures continue to report products, production and sales data for bottles, preforms, closures and plastic labels.
Customer value |Containers, closures, labels, films and paper packaging can be coordinated to support a customer’s complete packaging system.
Indicators to watch |Profit contribution, utilization and cash flow by product line and subsidiary.
Research source:Zijiang Enterprise website
11
COMPANY CASE
Case 11 | Shanghai Ailu: connecting paper sacks directly to customer production lines
Public information |No. 27 in the candidate pool, with industrial paper packaging, consumer paper packaging, plastic packaging and intelligent packaging systems.
Recent developments |In 2025, revenue was RMB 1.174 billion and operating cash flow was RMB 117 million. The ramp-up of expansion projects created interim earnings pressure: net profit attributable to shareholders was a loss of RMB 123 million, and the industrial paper-packaging project had not yet reached full production.
Customer value |Paper sacks are integrated with automated bag handling, weighing and filling, inspection and palletizing, connecting packaging directly to powder and granular-material production lines.
Indicators to watch |Project utilization, industrial paper-packaging margin, leakage and bag-breakage rates, filling cadence and operating cash flow.
Research source:Shanghai Ailu 2025 Annual Report
D
MANUFACTURING TRACK · CAPABILITY PATH
Manufacturing Path D | Food containers and forming: proving materials on customer equipment
Food packaging must run successfully through canmaking, cup forming, sealing, filling, warehousing and transport. Laboratory performance is only the starting point.
INDUSTRY COLLABORATION
Industrial collaboration case | Lido: water-based coated paper cups mobilizing an entire manufacturing chain
Water-based barriers, paper, printing, cup forming and recycling are beginning to form a more complete industrial collaboration around the paper cup.
Public information |The company website lists paper cups, bowls, plates, food containers and straws, and shows capabilities in single-wall, double-wall and ripple-wall cups as well as custom printing. Hunan provincial market-regulation records show that its production licence for paper packaging and containers for food use is valid until 3 April 2029.
Recent development | Development-zone projectA project filing states that the company plans to invest RMB 38 million in plant renovation and upgrading, purchase 40 pieces of equipment, and complete intelligent upgrades to nine production lines. The designed target is annual capacity of 2.1 billion environmentally responsible paper cups.
Research sources:Lido website; GB/T 44834—2024; GB/T 27591—2025; Hunan production-licence records; Pingjiang County project filing; public reports on industrial-chain collaboration involving BASF, APP Sinar Mas and DBC
12
COMPANY CASE
Case 12 | Jiamei Food Packaging: coordination from canmaking to filling
Public information |No. 9 in the candidate pool, with two-piece cans, three-piece cans, filling services and aseptic paper packaging.
Recent developments |Metal packaging accounted for 76.20% of revenue in the first half of 2025, including 56.24% from three-piece cans.
Customer value |Coordination across cans, coatings and filling brings packaging manufacturing closer to the actual production cadence of food and beverage customers.
Indicators to watch |Utilization, can-format changeovers, migration testing and margin per can.
Research source:Jiamei Food Packaging 2025 Interim Report
13
COMPANY CASE
Case 13 | Hengxin Life: turning sustainable materials into finished products
Public information |No. 18 in the candidate pool, with integrated capabilities across foodservice products, material modification, sheet extrusion, printing and forming.
Recent developments |In 2025, revenue was RMB 1.845 billion, net profit attributable to shareholders was RMB 224 million and operating cash flow was RMB 340 million. Gross margin on biodegradable products was 26.25%, down 4.81 percentage points year on year.
Customer value |From material modification through forming of cups, bowls, food containers and tableware, the company has built a relatively complete finished-product manufacturing chain.
Indicators to watch |Unit costs, pass rates, category margins, repeat orders and operating cash flow.
Research source:Hengxin Life 2025 Annual Report
14
COMPANY CASE
Case 14 | Pando: application-led service behind paper cups and bowls
Public information |No. 20 in the candidate pool, covering paper cups, bowls, tubs, cartons, bags and straws.
Recent developments |The company website continues to present application solutions for foodservice, coffee, convenience-store and packaged-food settings.
Customer value |Coordination across cup formats, functional layers, printing and cup forming enables rapid configuration for different foodservice applications.
Indicators to watch |Line speed, bottom- and side-seal yield, final SKU files and repeat orders.
Research source:Pando website
15
COMPANY CASE
Case 15 | Nanwang: the organizational capability to serve multi-SKU retail operations
Public information |No. 24 in the candidate pool, with products including paper bags, food packaging, nonwoven products, labels and receipt paper.
Recent developments |Group revenue was RMB 1.759 billion in 2025. Food packaging and nonwoven operations grew, while paper-bag revenue and margins remained under pressure.
Customer value |Coordination across materials, SKUs and regional delivery fits the complex, high-frequency packaging requirements of chain retailers.
Indicators to watch |Margin and cash contribution from paper bags, food packaging, nonwovens and labels.
Research source:Nanwang 2025 Annual Report
E
MANUFACTURING TRACK · CAPABILITY PATH
Manufacturing Path E | Tobacco packaging, security printing and labels: making packaging a quality and data interface
Once packaging carries identity, batch, anti-counterfeiting and traceability information, it moves beyond print and into the customer’s information system.
16
COMPANY CASE
Case 16 | Shanghai Tobacco Package Printing: industrial-grade consistency
Public information |No. 12 in the candidate pool, with capabilities in tobacco-pack design and printing as well as testing systems for paper, inks, printed materials and VOCs.
Recent developments |Public materials continue to demonstrate capabilities in tobacco-pack design, specialty processes and quality testing.
Customer value |Coordination across color, materials, anti-counterfeiting and testing creates systematic control of stability and consistency.
Indicators to watch |Pass rates, continuity of supply, development lead time and quality-control performance.
Research source:Shanghai Tobacco Package Printing website
17
COMPANY CASE
Case 17 | Donggang Inc.: opening identity and data interfaces beyond printing
Public information |No. 26 in the candidate pool, covering bills and forms, data printing, labels, smart cards, RFID, identity documents and technical services.
Recent developments |In 2025, revenue was RMB 1.186 billion, net profit attributable to shareholders was RMB 144 million and operating cash flow was RMB 228 million. Revenue from traditional printing products declined 13.81% year on year, while revenue from smart-card and RFID products increased 60.66%.
Customer value |Printing, identity, RFID, data and traceability are integrated through a single interface, creating room for information services in packaging and labels.
Indicators to watch |Revenue quality and real-world deployment of smart-card and RFID products, repeat purchases of data services, and operating cash flow.
Research source:Donggang Inc. 2025 Annual Report
F
MANUFACTURING TRACK · CAPABILITY PATH
Manufacturing Path F | Integrated printing and complex finishing: turning process complexity into consistent quality
Complex finishing is not about accumulating decorative processes. It is about delivering consistent structure, tactility, color and assembly.
18
COMPANY CASE
Case 18 | Shengtong Printing: rigorous manufacturing for food and pharmaceutical packaging
Public information |No. 15 in the candidate pool. Its packaging-printing business primarily serves food and pharmaceutical products, alongside publishing and commercial-printing operations.
Recent developments |Annual reports continue to disclose the customer industries served by its food and pharmaceutical packaging business.
Customer value |Clear separation among food, pharmaceutical, commercial and publishing-printing operations supports continued improvement in batch control, artwork management and traceability for packaging.
Indicators to watch |Packaging margin, order renewals, quality incidents, batch traceability and cash collection.
Research source:Shengtong Printing 2025 Annual Report
19
COMPANY CASE
Case 19 | Leo Paper Group: using complex finishing to create premium packaging quality
Public information |No. 16 in the candidate pool, with products including books, board books, game sets, gifts and packaging.
Recent developments |The company website and official interviews describe a complete prepress, printing and postpress system.
Customer value |Board books, gifts and premium packaging share complex finishing capabilities, creating combined strengths in structure, surface treatment and assembly.
Indicators to watch |Packaging mix, export revenue, finishing yield, utilization and cash flow.
Research sources:Leo Paper Group website; interview published by the National Press and Publication Administration
20
COMPANY CASE
Case 20 | Hung Hing Printing Group: long-established cross-category export manufacturing
Public information |No. 17 in the candidate pool, with folding cartons, books, paper-based toys and corrugated cases.
Recent developments |The company website continues to present packaging design and manufacturing capabilities for global customers.
Customer value |A portfolio spanning folding cartons, children’s products, corrugated packaging and export packaging creates cross-category manufacturing and responsiveness to international orders.
Indicators to watch |Packaging revenue, customer concentration, export orders, paper costs and cash flow.
Research source:Hung Hing Printing Group website
Who wins the customer’s next order?
Across these 20 companies, the answer is clear. Strength is not defined by a longer product list or newer equipment, but by whether customers turn to a supplier first when they face a product launch, an urgent order, a complex structure or a difficult quality problem.
YUTO TECH.’s global delivery, ZRP’s flexible manufacturing, MYS Group’s integrated services, Hexing Packaging’s regional network, Huangshan Novel’s structural coordination and Donggang Inc.’s data interfaces follow different paths, but they all accomplish the same thing:They reduce customers’ trial and error, downtime and uncertainty.
Lido offers another instructive answer. When water-based coatings, paper, printing, cup forming and recycling begin to collaborate around the same paper cup, a new material gains a credible path to industrial adoption.
Operating pressure does not negate professional capability; it makes the stage of development more visible. International Jifeng’s record order volume and positive operating cash flow, Shanghai Ailu’s system integration and capacity ramp-up, and Donggang Inc.’s RFID growth are all constructive signals worth monitoring.
For a packaging company, the most meaningful recognition is not the phrase “industry-leading,” but a customer’s willingness to entrust it with the next new product, urgent order or difficult project. The answer is not found in slogans, but in one reliable delivery after another.
BIOTEN Packaging · Industry Insights · Research Note
This article is based on public disclosures that could be verified as of 21 August 2026. “Top 20” in the title refers to the 20 core research samples selected from BIOTEN Observer’s 30-company candidate pool; it is not the official top 20 in the published ranking. Lido is an industrial collaboration case and is excluded from the ranking revenue total.
Relationship disclosure |BIOTEN Packaging and Lido are both founding members of the Zero-Carbon Circular Paper Cup Pioneer Alliance. This article describes the value of their industrial collaboration solely on the basis of public information.
BIOTEN Observer data and verification sources | Research materials
National Bureau of Statistics industrial data; the published reproduction of the 2026 Top 100 Printing and Packaging Companies in China and its selection methodology; exchange filings, standards, regulatory records, official interviews and company materials relating to the core 20 companies and Lido.
