The Folding Jianghu of 800 Million Chinese Insulating Cups: Small factories have internalized prices, while large factories have seen a surge in export orders, but there has not yet been a well-known domestic brand

The "Folding" Jianghu of 800 Million Chinese Insulating Cups: Small factories have internalized prices, while large factories have seen a surge in export orders, but there has not yet been a well-known domestic brand

The "Folding" Jianghu of 800 Million Chinese Insulating Cups: Small factories have internalized prices, while large factories have seen a surge in export orders, but there has not yet been a well-known domestic brand
Data shows that the annual production of insulation cups in China has reached 800 million units, with over 60% exported under OEM labels. Yongkang, the capital of Chinese cups, contributes 80% of China's production of insulated cups, and in 2011, the first company of insulated cups in China, Hals, was born. Ten years later, in Wuyi County, adjacent to Yongkang, Jiayi Shares caught up with Hals's listing pace; In early July this year, another cup and pot enterprise located in the Jiangsu and Zhejiang regions, Xinuo Shares, also launched an attack on the capital market.

There are many small workshops, fierce competition, uneven quality, and serious following trends, which are the challenges that need to be solved in the Chinese insulated cup industry. In the past decade, the classic black bullet head model has circulated in major wholesale markets of daily necessities, becoming a "classic model" to support small factories. However, behind it is a lack of innovative research and development, resulting in a large but weak industry.
A few years ago, a picture of Zhao Mingyi, a drummer of the Black Panther Band, holding a thermos cup was circulated on the Internet, which made "soaking Chinese wolfberry in a thermos cup" a synonym for the midlife crisis and gradually evolved into an enduring stem of the Internet. At last year's Tokyo Olympics, Chinese athletes held insulated cups and drank hot water, making them a mysterious force from the East in the eyes of various countries.

Chinese people's love for drinking hot water is ingrained in their genes. The world's first thermos was born in the late 19th century in the UK, and now, China, located on the other end of the Eurasian continent, has become the largest producer of thermos cups. Data shows that the annual production of insulation cups in China has reached 800 million units, with over 60% exported under OEM labels.

Yongkang, the capital of Chinese cups, contributes 80% of China's production of insulated cups. In 2011, it also gave birth to the first stock of insulated cups in China, Hars (SZ002615, stock price of 7.83 yuan, market value of 3.239 billion yuan). Ten years later, in Wuyi County adjacent to Yongkang, Jiayi Shares (SZ301004, stock price of 31.7 yuan, market value of 3.17 billion yuan) caught up with Hals's listing pace; In early July this year, another cup and pot enterprise located in the Jiangsu and Zhejiang regions, Xinuo Shares, also launched an attack on the capital market.

Through the financial data of three listed or planned companies, we can gain insight into the "folding" world of China, the world's largest insulated cup factory. In the pyramid of the Chinese insulated cup market, there are hundreds or thousands of small workshops and factories at the bottom, contract factories at the top, and well-known high-end brands at the top. The gap between the three social classes is obvious.

When small factories engage in price wars and profits are so thin that they only earn two yuan per product, large factories have seen a surge in OEM export orders, but still face the challenge of low value-added. The "throne" of the top high-end thermos cup brand belongs to international brands such as Fantasy, Elephant, Tiger, and Stanley, and there is still no seat for Chinese enterprises.