On July 29, Tujie, the first financial media in the domestic coatings industry, released the . MEGA P&C was included in the list for the second year and ranked 57th with sales revenue of US$318.1 million. Its ranking has increased significantly by 33 places compared with the previous year, becoming one of the fastest growing companies in the global coatings industry. This is the first time that MEGA P&C has ranked among the top 60 global coatings companies.
It is reported that the minimum entry threshold for this year's list is US$133.5 million, an increase of US$11.3 million compared with the previous year; the cumulative sales revenue of the companies on the list is US$122.1136 billion, an increase of US$12.2750 billion compared with the previous year; the companies on the list account for 59.65% of the global total revenue, an increase of 1.16 percentage points compared with the previous year. This year, a total of 30 Chinese companies (including Hong Kong, Macao and Taiwan) are on the list, of which 8 Chinese companies are among the top 50 in the world.
MEGA P&C was established in 2002 as a sino-foreign joint venture, committing to continuous research and development and production of a series of environmentally friendly and high-performance coating products, including container coatings, wind power coatings, bridge protective coatings, and steel structure coatings. Currently, the headquarters, R&D center and operation team of MEGA P&C are located in Shanghai with three major production sites in Jiading Shanghai, Nantong Jiangsu, and Zhuhai Guangdong (under construction).
Currently, MEGA P&C is a leading coating supplier in the field of containers and wind power equipment, especially in water-based coatings. Its customers include large domestic and foreign enterprises in wind power energy, containers, steel structures and bridges, including the world's top 500 enterprises. Due to continuous research and innovation, the production and sales of MEGA P&C container coatings and wind power coatings have been at the forefront of the domestic and even global industries for consecutive years.
Although the market encountered many uncertain factors such as rising raw material prices and pandemic last year, MEGA P&C still achieved incredible sales results. According to Tujie’s understanding, MEGA P&C will achieve a doubling of sales revenue in 2021. This is mainly due to the accelerated recovery of the global economy last year and the maintenance of high prosperity in international trade, which led to a surge in demand for containers in many countries and regions. In addition, the domestic wind power construction was expanding, which promoted the development of MEGA P&C wind power.
Due to the substantial growth in performance last year, MEGA P&C’s status in China's coatings industry continues to improve. According to the "Ranking of the Top 100 Chinese Paint Companies in 2022" released by the Tujie, an authoritative domestic coatings media, MEGA P&C once again topped the list and ranked first with sales revenue of nearly RMB 2 billion. Ranked 20th on the list, MEGA P&C has risen by 13 places compared with the previous year. This is the first time that MEGA P&C has ranked among the top 20 coatings companies in China.
As the company achieves rapid development, the current production capacity is not able to meet the market demand. Therefore, MEGA P&C is seeking to invest in Zhuhai Guangdong to its expand production capacity to cover the needs of customers in the Pearl River Delta metropolitan region. It is reported that MEGA P&C plans to invest a total of more than RMB 400 million to build a new high-performance coating factory in Zhuhai Guangdong, with an annual output of 70,000 tons. The project covers an area of more than 30,500 square meters and has a planned annual output of 20,000 tons of solvent-based coatings and auxiliary materials, 40,000 tons of water-based coatings and auxiliary materials, and 10,000 tons of solvent-free coatings and auxiliary materials. Currently, MEGA P&C has two major production bases in Shanghai and Nantong Jiangsu, with a designed annual production capacity of 90,000 tons.
It is worth mentioning that MEGA P&C is sprinting towards an A-share IPO. Recently, the Shanghai Securities Regulatory Bureau of the China Securities Regulatory Commission disclosed a progress report on the initial public offering and listing guidance of MEGA P&C Advanced Materials (Shanghai) Co., Ltd. Currently, MEGA P&C is receiving guidance for listing.
It is reported that the list of the top 100 global coatings companies is independently compiled by Tujie. The list has been published for eight consecutive years, and has received widespread attention and high recognition from the industry because of its independence and impartiality. It is also known as the index for the development of the global coatings industry.