Excerpt from WeChat public account: Printing Entrepreneurs (Original by Wang Sanhao)

Some bosses may know that at the beginning of each year, Sanhao students will entertain themselves by publishing a ranking of market capitalization of listed companies in the A-share printing industry.

This year, it has been nine years.

It was released earlier this year《2024 Printing Industry Listed Companies Market Value Ranking》，Yu Tong Technology, a big player in the industry, had the highest market value at the end of 2024, with 25.217 billion yuan.

Judging from the list of these years, Yutong is basically the ceiling of the market value of listed companies in the domestic printing circle.

Except for it, no other enterprise in the circle can keep its market value stable at more than 20 billion yuan.

Recently, the three good students have been trying to break into listed companies in the foreign printing and packaging industry.

As he scratched his head, Sanhao thought: it is difficult for the market value of listed companies in the domestic printing industry to break 30 billion yuan. How about the performance of foreign giants?

So here are the top 10 printing and packaging companies in the world by market capitalization.

Before I begin, two things need to be said:

First, since it is market value, there must be a definite time point for comparison. Sanhao students use the market value of each company at the close of the stock market on March 14 in their respective time zones.

Second, it is fair to say that these ten companies are the world's most valuable printing and packaging companies, but there is no way to rule out that some big players have been accidentally overlooked by the three good students.

If there are any mistakes, please criticize and correct them. Now, let's begin.

No.1 International Paper: 195.8 billion yuan

No.1 International Paper, founded in 1898 and headquartered in Tennessee, is listed on the New York Stock Exchange.

As of the close of March 14, the market value of International Paper was 27.05 billion US dollars, about 195.8 billion yuan at the current exchange rate, ranking first among listed companies in the global printing and packaging industry.

International paper industry is mainly based on corrugated packaging products, specific products involve carton, cardboard, pulp and so on.

In January, International Paper completed a merger with DS Smith, a European paper-packaging giant.

Together, the two companies have more than 650 factories in more than 30 countries and more than 65,000 employees.

2024年，国际纸业实现营收186.19亿美元，约合人民币1348亿元；DS Smith在2024财年（截至9月末）实现营收68.22亿英镑，约合人民币639亿元。

Based on this calculation, the current international paper industry annual revenue scale has been close to 200 billion yuan.

No.2 Smurfit Westrock: 166.6 billion yuan

No.2 Smurfit Westrock was formed in July 2024 by the merger of the former European company Smurfit Kappa and the American company WestRock.

Both companies are mainly focused on corrugated packaging products, similar to international paper products, but also involve more sophisticated consumer packaging products.

Together, Smurfit Westrock is headquartered in Dublin, Ireland, and listed on the New York Stock Exchange and the London Stock Exchange.

As of March 14, Smurfit Westrock had a market value of $23.02 billion on the New York Stock Exchange, or about 166.6 billion yuan.

At present, Smurfit Westrock has more than 500 packaging companies and 62 paper mills in 40 countries and regions, with more than 100,000 employees.

In 2024, Smurfit Westrock generated revenue of $21.109 billion, or about 152.8 billion yuan.

No.3 American packaging companies: 127 billion yuan

The third largest packaging company in the United States, founded in 1867, is headquartered in Illinois and listed on the New York Stock Exchange.

As of the close of March 14, the market value of American packaging companies was $17.55 billion, or about 127 billion yuan.

American Packaging is also a corrugated packaging company, whose business is mainly concentrated in the United States. It has more than 120 factories, including paper mills and packaging companies, with more than 15,000 employees.

In 2024, the U.S. packaging company will generate revenue of $8.383 billion, or about 60.7 billion yuan.

No.4 Pol Company: 106.3 billion yuan

No.4, Polar, was founded in 1880 and is headquartered in Colorado, USA. It is listed on the New York Stock Exchange.

As of the close of trading on March 14, Pol's market value was $14.68 billion, or about 106.3 billion yuan.

Boll is one of the world's largest manufacturers of iron cans, with dozens of factories around the world and about 16,000 employees.

In 2024, Pol's revenue will reach $11.795 billion, or about 85.4 billion yuan.

No.5 Amco: 102.3 billion yuan

Amco, No.5, has a history dating back to 1860 and is headquartered in Zurich, Switzerland, and listed on the New York Stock Exchange.

Amco's market value stood at $14.13 billion, or 102.3 billion yuan, as of the close of trading on March 14.

Amco is the world's largest flexible packaging company, as well as plastic rigid packaging and some carton products, with operations in 40 countries, more than 200 business points, and approximately 41,000 employees.

For fiscal 2024 (ending June), Amco generated revenue of $13.64 billion, or about 98.7 billion yuan.

Amco is currently advancing a merger with Berry International Group.

No.6 Avery Dennison: 102.1 billion yuan

No.6, Avery Dennison, was founded in 1935 and is headquartered in Ohio. It is listed on the New York Stock Exchange.

Ellan Davidson had a market value of $14.11 billion, or 102.1 billion yuan, at the close of trading on March 14.

Eadison is the world's largest label material giant, and also has considerable strength in label production, with more than 100 production and sales facilities in more than 50 countries around the world, with about 35,000 employees.

In fiscal 2024 (ending September), Avery Dennison reported revenue of $8.756 billion, or about 63.4 billion yuan.

No.7 Crown Holdings: 74.9 billion yuan

No.7 Crown Holdings, founded in 1892 and headquartered in Pennsylvania, is listed on the New York Stock Exchange.

As of the close of trading on March 14, Crown Holdings had a market value of $10.35 billion, or about 74.9 billion yuan.

Like Pol, Crown Holdings is a steel can manufacturer with 195 factories and sales and service facilities in 39 countries and regions, employing about 23,000 people.

In 2024, Crown Holdings will generate revenue of $11.801 billion, or about 85.4 billion yuan, slightly higher than Polk's.

No.8 Silk Ai Group: 63.8 billion yuan

The eighth-ranked Silkai Group, founded in 1951 and headquartered in Toronto, Canada, is listed on the Toronto Stock Exchange.

As of the close of March 14, the market value of Silkai Group was 12.67 billion Canadian dollars, or about 63.8 billion yuan.

Sai Group is the world's largest label printing company, as well as label materials and flexible packaging products, with more than 210 production and sales service facilities worldwide, employing about 26,300 people.

In 2024, Silkai Group achieved revenue of 7.245 billion Canadian dollars, or about 36.5 billion yuan.

No.9. Intaglio holding company: 60.7 billion yuan

The ninth largest company, Togepu Holdings, formerly known as Togepu Printing, was founded in 1900 and is headquartered in Tokyo, Japan. It is listed on the Tokyo Stock Exchange.

As of the close of March 14, the market value of Togai Holdings was 1,246.33 billion yen, or about 60.7 billion yuan.

The business of The Company is quite diversified. In addition to the traditional printing and packaging business, which is almost all-encompassing, a considerable part of the revenue comes from high-tech electronic products such as liquid crystal color filters, TFT liquid crystal, anti-reflection film, photomasks and semiconductor packaging.

In 2024, The revenue of Togepu Holdings was 1678.249 billion yen, or about 81.7 billion yuan.

No.10 Berry International Group: 58.8 billion yuan

No.10, Berry International Group, founded in 1967 and headquartered in Indiana, is listed on the New York Stock Exchange.

As of the close of March 14, Berry International Group's market value was $8.12 billion, or about 58.8 billion yuan.

Berry International Group is mainly engaged in plastic hard packaging products such as bottles and cans, as well as plastic soft packaging and a small number of paper packaging products. The number of employees exceeds 40,000.

In fiscal year 2024 (ending September), Berry International Group generated revenue of $12.258 billion, or about 88.7 billion yuan.

If the Amco-Berry International merger goes through, it is unclear what the new company will be worth.