Industry Report - Cigarette Manufacturing in China.pdf
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1、CONTENTS Error! No text of specified style in document. November 2011 | 1-800-330-3772 | IBISWorld Industry Report 1620 Cigarette Manufacturing in China November 2011 About This Industry . 2 Industry Definition . 2 Main Activities . 2 Similar Industries 2 Additional Resources 2 Industry Performanc
2、e 4 Executive Summary 4 Key External Drivers . 4 Current Performance 5 Industry Outlook 7 Industry Life Cycle 9 Products further improving the quality of Chunghwa brand cigarettes, accelerating the application of new and high technologies in production; and further enlarging the production capacity
3、of Chunghuwa, significantly increasing its competitiveness and turning it into a superior Chinese cigarette brand. In 2003 and 2004, Shanghai Tobacco (Group) Corporation acquired Beijing Cigarette Factory and Tianjin Cigarette Factory, respectively. WWW.IBISWORLD.COM.CN Cigarette Manufacturing in Ch
4、ina November 2011 25 In May 1995, the company signed an agreement with Philip Morris, and built a new plant equipped with advanced machinery for the production of Marlboro, which are sold in China and internationally. While not investing any capital in this development, Philip Morris helped in staff
5、 training. Philip Morris licensed Shanghai Tobacco to manufacture Marlboro using local tobacco in the same year. Shanghai Tobacco (Group) Corporation has benefited from large increases in consumer demand in China in recent years. As income levels continue to rise, more people are able to afford high
6、-end cigarettes, such as Chunghwa, Panda and Double Happiness. In 2007, its revenue amounted to $3.68 billion, up 28.5% from 2006. This was mainly due to the increase in its production volume, which increased by 6.3% from 2006. In 2002, sales revenue increased by 31.5% to $1.71 billion. This was als
7、o a result of constantly enhanced total assets and business development during these years. Rising raw material costs resulted in net profit decreasing by 3.7% in 2005. Profits increased strongly to 2009 due to rapid revenue increases; the appreciation of the Chinese Yuan; and, decreased financial e
8、xpenses. WWW.IBISWORLD.COM.CN Cigarette Manufacturing in China November 2011 26 Shanghai Tobacco (Group) Corporation - financial performance Year Revenue US Million Dollars Growth % change NPBT US Million Dollars Growth % change Assets US Million Dollars Growth % change 2005 2487.6 N/C 840.3 N/C 476
9、0.3 N/C 2006 2866.5 15.2 860.0 2.3 5678.3 19.3 2007 3683.7 28.5 1087.0 26.4 6952.4 22.4 2008* 5591.5 51.8 1698.1 56.2 9888.4 42.2 2009* 7741.7 38.5 1885.1 11.0 8950.3 -9.5 2010 10757.9 39.0 N/A N/C N/A N/C SOURCE: NATIONAL BUREAU OF STATISTICS CHINA NOTE: *ACMR-IBISWORLD ESTIMATES Hongta Group Indus
10、try Brand Names: Hongtashan, Yuxi, Gonghexinxi, Ashima, Hongmei Market Share: 7.0% Hongta Group was established in 1956 as a small tobacco re-curing factory. Now, it is a major Chinese tobacco producer based in Yuxi city, Yunnan province. Besides cigarette manufacturing, Hongta Group has operations
11、in the energy, transportation, finance, insurance, medicine and light chemical industries. HTS Hongta Switzerland Ltd., a foreign company of Yuxi Hongta Tobacco Group, was set up in July 2000 under the approval of the state Ministry of Foreign Trade and Economy, with Switzerland as its headquarters.
12、 In May 2003, it controlled Hongta Hainan Tobacco Co., Ltd. In December 2003, Hongta Liaoning Tobacco Co., Ltd was established. The groups major brands are Hongtashan, Yuxi, Gonghexinxi, Ashima and Hongmei. Some are exported to the US and Europe. These brands are made from high quality, natural, pur
13、e tobacco products. In 2008, total sales volume of cigarettes of Hongta Group exceeded 4 million cases. In the first ten months of 2009, sales volumes of the groups main brand cigarettes totaled 3.77 million cases, up 36.7% from the same period in 2008. During the first ten months of 2009, with the
14、rapid increase in sales volume, the groups tax value and profit totaled $4.37 billion, up 11.8% from the same period in 2008. For the whole year in 2010, company revenue totaled $9.34 billion. Since the beginning of 2007, Hongta Group has been striving to readjust its business development strategies
15、 and improve the structure of its existing cigarette brands, contributing to significantly increasing both the output and sales of its three leading competitive brands of Yuxi, Hongtashan and Hongmei. In 2007, the three leading competitive cigarette brands covered 98% of cigarette products manufactu
16、red by the group, a sharp increase of 31.5% over the same period in 2006. In 2007, its revenue amounted to $2.88 billion, up 24.9% over 2006. The decrease in its assets was mainly due to sharp decline in its current assets. The financial performance of Hongta Group from 2002 to 2007 shows steady rev
17、enue growth due to large market demand for cigarettes and enhanced investment. In 2003, total assets increased by 15.8%, as a result of the acquisition of the Shenyang and Yingkou cigarette factories. WWW.IBISWORLD.COM.CN Cigarette Manufacturing in China November 2011 27 Rising prices of tobacco lea
18、ves resulted in a total profit decrease of 8.8% in 2005. In 2006, company revenue increased by 12.8% due to earnings from exports of flue-cure tobacco. Hongta Group - financial performance Year Revenue US Million Dollars Growth % change NPBT US Million Dollars Growth % change Assets US Million Dolla
19、rs Growth % change 2005 4514.0 N/C 451.3 N/C 5612.5 N/C 2006 5118.9 13.4 327.6 -27.4 5933.0 5.7 2007 5243.2 2.4 456.8 39.4 5102.8 -14.0 2008* 7362.6 40.4 234.9 -48.6 2799.7 -45.1 2009* 8183.6 11.2 541.5 130.5 2254.4 -19.5 2010 9344.7 14.2 N/A N/C N/A N/C SOURCE: NATIONAL BUREAU OF STATISTICS CHINA N
20、OTE: *ACMR-IBISWORLD ESTIMATES China Tobacco Hunan Industrial Co., Ltd. Market Share: 6.0% China Tobacco Hunan Industrial Co., Ltd. was established in December 2007. Currently, the company has over 14,000 workers and total assets of $5.44 billion. There are six cigarette factories, three shareholdin
21、g tobacco leaf stemming and redrying enterprises, and one shareholding tobacco sheet processing enterprise in the company. It also has a 50% stake in Hebei Baisha Tobacco Co., Ltd. The six cigarette factories of the company are located in Changsha, Changde, Chenzhou, Lingling, Siping and Wuzhong and
22、 together they have production volume of over 4 million cases. Major brands of the company are “Lotus King“, “Lotus” and “Baisha”. In 2008, sales volume of “Baisha” cigarettes exceeded 2.4 million cases, ranking highest in China. In the first half of 2009, total production volume of the company was
23、1.74 million cases, up 3.1% from the first half of 2008. The company made revenue of $3.32 billion, up 13.1% from the previous period. In 2010, the companys revenue increased by 17.3% to $8.7 billion. Changde Cigarette Factory Changde Cigarette Factory was set-up in 1951 and is located in Hunan prov
24、ince, surrounded by fertile tobacco growing areas. The company employed 8,300 workers in 2006 with an annual production capacity of around 6 million cases (50,000 cigarettes per case) of cigarettes. In 2003, Changde Cigarette Factory acquired Siping Cigarette Factory in Jilin province and Lingling C
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