以下文章来源于天下网商 ，作者天下网商 天下网商 . 记录互联网商业的人物和故事。 当消费者拧开一瓶农夫山泉长白雪矿泉水，或者在超市货架穿梭中拿起一瓶力士洗发露、一瓶蓝月亮 洗衣液时，较为吸引目光的是瓶身上那枚印着品牌信息的包装标签。 但你或许想不到，就是这样一枚早已习以为常、成本不过几分钱的不干胶标签，竟能撑起一家年营收 超5亿元、净利润过亿元的企业。 把细分生意做到极致，苏州吴江走出了一家标签印刷的龙头企业。12月1日，苏州江天包装科技股份 有限公司（简称江天科技）获证监会同意，成功叩响北交所的大门，将刊登招股资料启动发行工作。 从1992年仅有凸版印刷机的地方小作坊起步，到成为农夫山泉、联合利华、宝洁、蓝月亮、海天味 业、新天力等顶级品牌的核心服务商，江天科技用33年时间，在不起眼的赛道里成功突围。据招股书 显示，2022年至2024年，江天科技营收分别为3.84亿元、5.08亿元、5.38亿元，同期净利润为 7445.40万元、9646.11万元、1.02亿元，其毛利率始终稳定在28%以上，2023年毛利率更是达到 30.95%。 | 项目 | 2025年6月30日 | 2024年12月31 | 20 ...

Core Viewpoint - Jiangtian Technology, a leading label printing company, has successfully entered the Beijing Stock Exchange, showcasing its growth and potential in the packaging industry, driven by its deep connections with major consumer brands and innovative printing technologies [1][5][19]. Financial Performance - Jiangtian Technology's revenue has shown consistent growth, with figures of 3.84 billion yuan in 2022, 5.08 billion yuan in 2023, and projected 5.38 billion yuan in 2024, while net profits have increased from 74.45 million yuan in 2022 to over 100 million yuan in 2024 [3][4]. - The company's gross margin has remained stable above 28%, reaching 30.95% in 2023 [3][4]. Business Structure - The company primarily focuses on two product categories: film-based and paper-based adhesive labels, which together contribute over 90% of its revenue [9][10]. - In 2024, film-based labels generated 4.28 billion yuan, accounting for 79.81% of total revenue, while paper-based labels contributed 793.75 million yuan, making up 14.79% [10]. Client Relationships - Jiangtian Technology has established strong ties with major clients, including Nongfu Spring, Unilever, and Procter & Gamble, with Nongfu Spring alone contributing 42.02% of revenue in the first half of 2025 [13][14]. - The company has a high concentration of accounts receivable, with over 98% of receivables aging within one year, indicating a strong cash flow position [13]. Market Position and Strategy - Jiangtian Technology has positioned itself as a comprehensive label service provider, expanding its client base beyond traditional beverage and daily chemical sectors to include emerging brands like Heytea [19][17]. - The company has invested in advanced printing technologies, enhancing its competitive edge and ability to meet the evolving demands of high-end clients [19][20]. Industry Trends - The food packaging sector is experiencing a capital influx, with companies like Jiangtian Technology benefiting from the rising demand for functional and aesthetically pleasing packaging solutions [19][22]. - The trend of "selling shovels" in the packaging industry highlights the growing recognition of upstream suppliers' value, as they play a crucial role in supporting consumer brands [19][22].