Wanchai, Hong Kong
Tel: +852 2675 2288, +760 8652 2330
Fax: +852 2675 2345
E-mail: LiuWei@zs.yipsink.com, LinChuYi@zs.yipsink.com
Sales: $179 million (HKD 1,409,738,000); Yip’s Chemical’s consolidated sales were HKD$10.3 billion US$1.31 billion).
Major Products: Gravure inks, offset printing inks, screen printing inks, UV inks and environmentally-friendly inks used mainly in food and medicine packaging, tobacco packaging, offset and transfer printing; adhesives; dampening alcohol solution; cleanser.
Key Personnel: Kwong Kwok Chiu, GM of Bauhinia Variegata Ink & Chemicals Limited; Lv Jun Xiong, business director of gravure printing ink; Yuan Gui Qin, business director of gravure printing ink; Wu Zhao Wei, Sha Ji Hong, Feng Wen Zhao, Mai Yun Cheng, technical directors.
Number of Employees: 958.
Comments: Yip’s Chemical Holdings Limited is the parent company of Bauhinia Variegata Ink & Chemicals (Zhejiang) Limited, the leading domestic ink manufacturer in China. In 2017, the company recorded sales of $180 million, a slight decline from 2016.
Yip’s Chemical had an outstanding year, with revenue up 20% in 2017 to HK$10.3 billion (US$1.31 billion).
“According to China Printing Ink Association, the sales volume and revenue of Bauhinia Variegata ranks first in China’s ink industry for nine consecutive years,” a company spokesperson reported.
Bauhinia Variegata mainly focuses on China domestic market, but in 2017, the company made progress in capitalizing the Belt and Road Initiative to tap into the Southeast Asian market, in particular the Vietnamese market.
Bauhinia Variegata Ink places a major emphasis on environmentally friendly products. During the past year, the company introduced its ENVOMARS water-based inks, which is now being used by more than 10 major printers. The printing speed of ENVOMARS reaches 240m/s.
“The current concern in the printing market is the pressure of environmental protection, especially the emission of VOCs,” the spokesperson said. “We launched water-based inks to cater to market development. The promotion of gravure water-based ink has achieved good results. Our water-based gravure printing ink will gain momentum as it has been adopted widely by our customers. We also upgraded our production plant by installing state-of-the-art VOC treatment facility to manage and control the VOCs produced during the production process.”
In addition to inks, Yip’s Chemical is a leading manufacturer of solvents, coatings and lubricants. The company reported that overall, gross profit of coatings, inks and lubricants businesses was under pressure as raw material prices escalated yet profit attributable to owners was still up at HK$171 million.
“The rise in raw material prices has created pressure on our gross margin,” the Bauhinia Variegata spokesperson added. “Riding on our long-term and well-established relationship with our suppliers, we are able to ensure a secure source of raw materials. On one hand, we tried to pass on the rising costs to our customers. On another hand, we structurally improved our cost structure and enhanced our operations through working hand in hand with an external consultant to review various processes along our value chain and identify areas for improvement (ACT project).”
Bauhinia Variegata has been adhering to a sustainable business model, promoting the use of environmentally friendly products including water-based gravure printing ink, low-VOC offset printing ink, and two-component glass screen printing ink during the past year.
“These products receive satisfactory feedback from users, which is a strong testimony to our efforts in promoting green development of the ink industry,” the spokesperson observed. “A unique process is applied to our water-based gravure printing ink so that the ink solid content increased by 30% and the viscosity of the ink was effectively reduced. This product can be used for the packaging of light and boiled food and steamed food. It is suitable for PET, NY, BOPP, PVDC and so on. In the future,
Bauhinia Variegata will continue to vigorously promote water-based gravure printing ink, develop more high-speed, more environmentally friendly, lower-odor products, so as to capture the market opportunities and speed up the transformation of the ink industry.”