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小C評論｜又一批印包企业倒下，产业寒潮如何破局？
2025-07-29 09:35:29.0 来源：cpp114 文/Bing° 责编：张晓丹
以下笔者将循着时间、空间与产业链三条主线，将散落在世界各地的“点状”危机连缀成一幅完整图景。
6月12日，东莞市中级人民法院裁定受理虎彩印藝股份有限公司破産重整案，並指定管理人。這家成立于1989年、擁有36年曆史的“明星”企業，自此踏上重整之路。僅僅18天後，佛山傲彩創始人吳金河發出通告：資金鏈徹底斷裂，業務即刻停擺，員工就地解散。
两家昔日标杆的先后折戟，将行业暗涌摆在台前。
曾经的风光无限，如今却都化作过往云烟。东莞虎彩印艺创立于1989年，有着辉煌的历史，前身为虎门彩色印刷廠，2015年還成功登陸新三板，營收最高時超16億元，其業務領域涵蓋煙包、彩盒等，是行業內的“明星”。然而，自2018年後，卻開啓了一段漫長的虧損之路，6年虧損超6億元，最終走向破産重整。在破産重整前，其負債總額高達7.84億元，資産負債率78%，截至2025年6月16日，總負債超8個億，而2025年在手可執行訂單金額卻僅約2469.64萬元。
佛山傲彩也不遑多让，作为一家被认为在传统包裝业智能化转型中有潜力的“标杆”企业，曾获近亿元融资，却因激进扩张、创新模式落地难、管理失控等问题，在行业下行的冲击下，资金链断裂，最终破产清算，金融机构贷款余额3280万左右，供應商未结货款1300万左右，连产业园区房租都拖欠200多万，企业一夜之间土崩瓦解，员工散去，留下一地狼藉。
國內行业寒风凛冽，國際巨头亦难独善其身。
7月8日，全球纸浆造纸龙头Sappi宣布，启动德国阿尔费尔德工厂部分资产重组磋商，直言“欧洲市场需求结构性下滑”，在此之前，德国纸业市场已深陷“价格战”泥潭。几乎同时，北美包裝制造商Cascades决定10月初永久关闭尼亚加拉瀑布帕卡德路瓦楞纸厂，123名员工将全体裁员——而几周前，该公司刚为另一家工厂提高了信贷额度。
需求萎缩与价格战的双重挤压，让“大而不能倒”成为一句空谈。连曾被冠以“数字印刷界傳奇”的以色列瀾達數字印刷亦未能幸免。
由天才工程师本尼·澜达耗时15年、烧掉13亿美元（约93亿元人民币）打造的“技術帝国”，如今深陷债务危机，光环尽褪。高端設備在订单真空与折旧高峰的双重夹击下，从“利润引擎”变为“成本黑洞”。技術神话的光环，终究敌不过周期下行的重力。設備端的收缩信号，像最后一根稻草，压垮了仍幻想“高端技術可以抵御周期”的残存侥幸。
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"A list of the things you are going to buy," Mary remarked. To regain the highroad we had turned into a northerly fork, and were in as lovely a spot as we had seen all day. Before us and close on our right were the dense woods of magnolia, water-oak, tupelo and a hundred other affluent things that towered and spread or clambered and hung. On the left lay the old field, tawny with bending sedge and teeming with the yellow rays of the sun's last hour. This field we overlooked through a fence-row of persimmon and wild plum. Among these bushes, half fallen into a rain-gully, a catalpa, of belated bloom, was loaded with blossoms and bees, and I was directing Camille's glance to it when the shots came. Another outcry or two followed, and then a weird silence. Ferry led Kendall and me into the woods, the other two remaining. We found rising ground, and had ridden but a few minutes when from its crest we looked upon a startling sight. In front of us was a stretch of specially well farmed land. Our woods swept round it on both sides, crossed a highway, and gradually closed in again so as to terminate the opening about half a mile away. Always the same crops, bottom cause of the war: from us to the road an admirable planting of cotton, and from there to the farther woods as goodly a show of thick corn. The whole acreage swept downward to that terminus, at the same time sinking inward from the two sides. On the highway shone the lighted rear window of a roadside "store," and down the two sides of the whole tract stretched the hundred tent-fires of two brigade camps of the enemy's cavalry. Their new, white canvases were pitched in long, even alleys following the borders of the wood, from which the brush had been cut away far enough for half of them to stand under the trees. The men had quieted down to sleep, but at one tent very near us a group of regimental officers sat in the light of a torch-basket, and by them were planted their colors. A quartet of capital voices were singing, and one who joined the chorus, standing by the flag, absently yet caressingly spread it at such breadth that we easily read on it the name of the command. Let me leave that out. "Quite so. The man was all twisted from his hip, and he had a crooked nose." They were all flying from the plague, which was spreading, and emptying the bazaars and workshops. The Exchange being closed, trade was at a standstill, and the poor creatures who were spared by the pestilence were in danger of dying of hunger. “But she knew them,” objected Dick. “She wouldn’t throw over the wrong ones and she couldn’t get the right ones.” “That’s what we thought.” "Well, if I had sich a name as that I wouldn't expect people to git it right. There's no sense in havin' a Dutch name that makes your tongue crack like a whip. Well, this Mr. McFillemgoody is Si's boss, and he writes a nice letter, and says Si done so well at Chickamaugy that some other boss—a Colonel or Corporal—" "It is not good to be free," he said at last, in a reasonable, weary tone. "In the cold there is a bad thing. In the rain there is a bad thing. To be free is to go to these bad things." "To London!" HoME免费看一级a视频ENTER NUMBET 003xsr.net.cn