Case Study – Jiangsu Sanying
Jiangsu Sanying (“Sanying”, or the “Company”) is a flexible packaging company, specializing in laminate tubes and primarily serving the domestic China market. The Company is headquartered in Jiangsu, China, with branch manufacturing facilities in five other cities in China. Sanying is one of the largest laminate tube manufacturers nationwide with top two positions across all key end markets of oral care, cosmetics, pharma, and F&B. The Company enjoys highly sticky and long-term relationships with its leading blue-chip domestic and multinational customers.
Since Nexus Point invested in Sanying in April 2021, we have partnered with the Company and further enhanced Sanying’s emphasis on its performance of daily ESG responsibilities, greenness and sustainability. This includes:
• Developed recyclable tube products (“Ever Green” series): Sanying is the first to develop a 100% recyclable laminate tube (“EVER GREEN” series) utilizing only a single type of plastic, which has successfully obtained certification from the Association of Plastic Recyclers (APR) and won the Golden Apple award on the 4th China International Recycling Plastics Exhibition in 2021. The Company is in discussions with customers on bringing this product to market, upon which it estimates up to 7 thousand tons of plastic per year could be recycled instead of going to landfills.
• Implemented new monitoring systems for waste management and pollution reduction: Successfully reduced VOC emissions by 40% (around 5 tons) in 2021 through upgrading its filtering and monitoring system. Sanying also conducts quarterly wastewater monitoring to prevent water pollution.
• Improved workplace safety with regular trainings: Taking strict measures to improve workplace safety, including provision of comprehensive PPE for workers and regular safety training sessions.
• Supported community with charity events and donations: Established an employee charity fund dedicated to providing financial support to employees experiencing distressed situations such as urgent health and/or family issues.
• Professionalized family-owned business and improved internal governance structure: Expanded the number of ESG-related metrics. These are being discussed amongst senior management on a monthly basis and reported to the Board on a quarterly basis. The HR team has also set up company-level safety assessment KPIs for all departments.
• Half of the senior executive team is comprised of women: Promoted a female executive to CEO and hired a female CFO; females now represent 50% of senior executives in the Company.
In the future, Sanying and Nexus Point will continue working closely on implementing key ESG initiatives and continue to deliver sustainable packaging solutions to customers.