Revenues of Best Inc's Suppliers, deteriorated by -13.33 % compared to the same quarter a year ago, from the previous quarter, sales fell by -7.7 %, while their net profit margin fell to 1.71 % year on year, compared to the previous quarter Best Inc's Suppliers had a lower net margin at -7.7 %,
Best Inc's Suppliers realized a deteriorated in sales by -13.33 % compared to the same quarter a year ago, from the previous quarter, sales fell by -7.7 %, while their net profit margin fell to 1.71 % year on year, compare to previous quarter BEST's Suppliers had lower net margin at 1.71 %,
Major raw materials required in the manufacturing processes for our packaging
products include petroleum-based resins and mixing chemicals, which are primarily
supplied to us by large chemical companies. For these raw materials, we generally
maintain purchase contracts for a period of up to six months. However, for many
other materials, we can generally choose from multiple producers and such orders
are placed on an “as-needed” monthly basis.
As all BOPP film is petroleum based, the effects of any short-term fluctuations
in the price of oil will be averaged into the earnings over the period due to
the cyclical nature of production, inventory and sales. Any long-term increases
in the price of oil will have an adverse impact on our earnings. However, as
there are currently no synthetics or substitute materials available in the market,
management believes that any long-term increase in the price of oil will be
made up for by an increase in sale prices by all film producers.
The base materials for many of Shiner Industrial’s products are derived
from petroleum. Approximately 34% of the raw materials for Hainan Shiner’s
BOPP tobacco film operation are imported from multi-national chemical companies
such as Sumitomo Chemical Co., Ltd. In contrast, only about 4% of the raw materials
for our coated films are imported because the current base BOPP film can be
supplied through qualified domestic suppliers in China. All of the raw materials
for our color printing operations are purchased domestically in China. There
are numerous suppliers for these raw materials. We generally select a supplier
based on the best combination of quality, price and service. There are no raw
materials used in our color printing production process that are provided by
any sole supplier.
BOPP is a major raw material for our flexible packaging films; our new BOPP
film line produces sufficient basic BOPP film to satisfy our coated film production
needs.
Best Inc's Comment on Supply Chain
Major raw materials required in the manufacturing processes for our packaging
products include petroleum-based resins and mixing chemicals, which are primarily
supplied to us by large chemical companies. For these raw materials, we generally
maintain purchase contracts for a period of up to six months. However, for many
other materials, we can generally choose from multiple producers and such orders
are placed on an “as-needed” monthly basis.
As all BOPP film is petroleum based, the effects of any short-term fluctuations
in the price of oil will be averaged into the earnings over the period due to
the cyclical nature of production, inventory and sales. Any long-term increases
in the price of oil will have an adverse impact on our earnings. However, as
there are currently no synthetics or substitute materials available in the market,
management believes that any long-term increase in the price of oil will be
made up for by an increase in sale prices by all film producers.
The base materials for many of Shiner Industrial’s products are derived
from petroleum. Approximately 34% of the raw materials for Hainan Shiner’s
BOPP tobacco film operation are imported from multi-national chemical companies
such as Sumitomo Chemical Co., Ltd. In contrast, only about 4% of the raw materials
for our coated films are imported because the current base BOPP film can be
supplied through qualified domestic suppliers in China. All of the raw materials
for our color printing operations are purchased domestically in China. There
are numerous suppliers for these raw materials. We generally select a supplier
based on the best combination of quality, price and service. There are no raw
materials used in our color printing production process that are provided by
any sole supplier.
BOPP is a major raw material for our flexible packaging films; our new BOPP
film line produces sufficient basic BOPP film to satisfy our coated film production
needs.
BEST's Suppliers Net profit fell by
BEST's Suppliers Net margin fell in Q4 to
-27.52 %
1.71 %
BEST's Suppliers Net profit fell by -27.52 %
BEST's Suppliers Net margin fell in Q4 to 1.71 %
Best Inc's Suppliers Sales Growth
in Q4 2023 by Industry
Sources:
Best Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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