What Masterwork Group does

Masterwork Group (天津长荣科技集团股份有限公司, SZSE: 300195) is a Chinese publicly listed industrial manufacturer founded in 1995 and headquartered in Tianjin, with approximately 1,800 employees globally. The company's core business is post-press finishing equipment for the printing and packaging industry, encompassing seven major product series: hot stamping/foil press machines, die-cutting machines (including full-auto waste removal, semi-auto, flatbed, and web-fed formats), inspection machines, folder-gluer machines, digital printing and enhancement equipment, laser die-cutting machines, and intaglio/gravure presses. Proprietary technology anchors include dual-machine die-cutting and hot stamping configurations with exclusive global patents, the MasterSet electronic registration system, the MasterFeeder/MasterLogistic automated logistics integration, and the Qingmoyan AI-powered 8K visual inspection platform.

The company monetizes primarily through one-time capital equipment sales to enterprise packaging manufacturers, supplemented by consumables, spare parts, training, and aftermarket service, plus a financial leasing arm (Changrong Huaxin) that supports customer purchases. International distribution outside mainland China is conducted through an exclusive strategic partnership with Heidelberg Druckmaschinen AG, in which Masterwork holds the largest single shareholder position (~8.5% voting rights acquired in March 2019). This Heidelberg channel has installed over 1,500 MK systems globally and supplies 100+ countries. In China, Masterwork sells directly through its own sales force plus subsidiary offices in the US, UK, and Germany R&D center, with manufacturing also in Slovakia.

Beyond core printing equipment, Masterwork has diversified into medical device production, financial leasing services for the packaging industry, laser technology, green packaging materials, health technology, and — most recently — a photovoltaic/new energy business (Changrong Green Energy) with a 100MW solar project co-investment in Gansu Province signed in November 2025. The company claims TOP1 domestic market share in die-cutting and hot stamping equipment. In March 2026, it formalized a dual-brand strategy by launching the Youheng (有恒) sub-brand targeting mid-market customers, complementing the premium Masterwork main brand and its existing sub-brands (Youmeng, Youzhen, Youyue, Youzhi, Xinyue, Ronglian Huizhi).

Name

Masterwork Group

Legal name

天津长荣科技集团股份有限公司

Website

https://mkmchina.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Masterwork Group is a Chinese publicly listed manufacturer of post-press finishing equipment — including die-cutting, hot stamping, inspection, folder-gluer, and digital enhancement machines — serving global packaging manufacturers through direct sales in China and an exclusive international distribution partnership with Heidelberg Druckmaschinen AG.

Ownership category

akta.pro rank

Product category

Printing and Packaging Equipment Manufacturing

NAICS

Packaging Machinery Manufacturing (333993), Other General Purpose Machinery Manufacturing (3339)

SIC

Printing Trades Machinery & Equipment (3555), Special Industry Machinery (No Metalworking Machinery) (3550)

akta.pro primary industry

Finishing, Converting & Die-Cutting Services (IMALAKAN)

akta.pro secondary industry

Production & High-Volume Printing Systems (HDACAEAJ)

Keywords

• Post-press finishing equipment
• Die-cutting machinery
• Hot stamping machines
• Packaging printing equipment
• Folder-gluer machines

Headquarters

HQ city

Tanggu

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Printing Equipment Manufacturing: Core business segment manufacturing and selling printing and post-press finishing equipment including die-cutting machines, hot stamping machines, folding carton machines, digital printing equipment, and inspection machines. Equipment sales are one-time capital purchases with varying price points based on machine type and specifications.
2. Medical Device Production and Sales: Diversified business segment producing and selling medical devices.
3. Financial Leasing Services: Subsidiary Changrong Huaxin provides financial leasing services, procurement leasing, factoring, and consulting services for printing and packaging industry customers.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Masterwork Group manufactures and sells post-press finishing equipment for the printing and packaging industry, including hot stamping machines, die-cutting machines (flatbed, web-fed, full-auto waste removal), inspection machines with AI visual inspection, folder-gluers, digital enhancement/inkjet printing equipment, laser die-cutting machines, intaglio printing presses, paper cutters, and flip machines. The company also provides intelligent manufacturing solutions (AGV logistics, digital twin platform, MES, intelligent warehousing) and operates a photovoltaic power generation business.

Product overview

Masterwork Group (天津长荣科技集团股份有限公司, stock: 300195) operates a diversified industrial portfolio centered on printing and packaging equipment manufacturing, supplemented by medical device production, financial services, and renewable energy. Its core business is a broad portfolio of post-press finishing equipment for the printing and packaging industry, organized into two tiers: the premium Masterwork (长荣) main brand targeting global high-end markets, and the more accessible Youheng (有恒) sub-brand launched in March 2026 for mid-market customers. The main product lineup comprises 7 series: (1) Hot Stamping / Foil Press Machines (烫金机) including single-station, dual-station (MK2920FF, Youmeng series), and triple-station (MK3920FFCSB) models under sub-brands Youmeng, Youzhen, Youyue, and Youzhi; (2) Die-Cutting Machines (模切机) ranging from 550mm to 1700mm format, including full-auto waste removal (有臻MK1060CSB/MK1060CB, Mastermatrix 106CSB), semi-auto waste removal (有悦MK1300CS/MK1700CS), flatbed (MK Ecopress 1050), and web-fed (MK Webcut 82CSB) machines; (3) Inspection Machines (检品机) led by the Qingmoyan (青眸) AI-powered visual inspection system with 8K cameras; (4) Folder-Gluer Machines (糊盒机) including the Diana Easy/Smart/Easy Plus series; (5) Digital Equipment (数码设备) including the MK920DVF digital enhancement machine, MK600DPB inkjet press, and variable-data inkjet coders; (6) Laser Die-Cutting, Intaglio Presses, Waste Removal, Paper Cutters, and Flip Machines; and (7) Intelligent Manufacturing Solutions including AGV logistics, Digital Twin platforms, MES, and intelligent warehousing under the 荣联汇智 brand. The company also has a photovoltaic (solar) energy business through 长荣绿能. Major product launches include the dual-brand strategy with Youheng (March 2026), the Heidelberg co-designed MK Mastermatrix 106CSB upgrade (October 2025), and the MK21060FCSB+ upgraded machine (2024).

Differentiator

Problem solved

Functional benefit

Brands

• 有恒 (Youheng): Sub-brand launched in March 2026, positioned for ecosystem market with inclusive value proposition for growing customers, complementing the high-end 长荣 brand.
• 有梦 (Youmeng)
• 有臻 (Youzhen)
• 有悦 (Youyue)
• 有智 (Youzhi)
• 心悦 (Xinyue)
• 荣联汇智 (Ronglian Huizhi)
• 长荣绿能 (Changrong Green Energy)

Products and services

• Hot Stamping / Foil Press Machines (烫金机) Full line of hot stamping and foil pressing machines for high-end packaging, including single-station, dual-station, and triple-station models. Covers sub-brands Youmeng (high-end dual-station), Youzhen (German standard), Youyue (mid-market), and Youzhi (specialized applications). Key models include MK2920FF, MK21060VFF/VFS, MK21060FCSB, MK3920FFCSB, MK1060FC series, MK820S W web-fed, MK1020CF cold foil unit, and MK3920S W triple-station web-fed.
• Die-Cutting Machines (模切机) Comprehensive range of die-cutting machines including full-auto waste-removal, semi-auto waste-removal, flatbed, and web-fed models covering formats from 550mm to 1700mm. Key series include Youzhen for 1060mm full-auto waste removal (MK1060CSB, MK1060CB), Youyue for corrugated (MK1300CS, MK1700CS), Mastermatrix for high-end automated lines (MK Mastermatrix 106CSB co-developed with Heidelberg at 9000 sheets/hour), Youmeng dual-station, MK Ecocut 130CS (35% smaller footprint, 6000 sheets/hour), MK Ecocut 106CS-H (7500 sheets/hour), MK Webcut 82CSB (web-fed, 15000 sheets/hour), and Youheng 1060CS (mid-market sub-brand).
• Inspection / Quality Control Machines (检品机) with Qingmoyan AI Vision System Visual inspection machines for print quality control, featuring the Qingmoyan (青眸) AI-powered visual inspection system with high-speed 8K line-scan cameras. Supports up to 5 detection units, 300M/min speed, 0.1mm² precision for detecting print defects, embossing flaws, hot stamping errors, barcodes, and QR codes. Models include Youzhen MK550Q mini inspection machine and other inspection platforms.
• Folder-Gluer Machines (糊盒机) Automatic folder-gluer machines for carton box assembly, including the Diana Easy, Diana Smart, and Diana Easy Plus series. Covers formats from 55cm to 115cm, supporting various carton styles and serving pharmaceutical, food, and consumer goods packaging production lines.
• Digital Printing / Finishing Equipment (数码设备) Digital printing and finishing equipment including industrial inkjet digital presses, single-sheet variable-data inkjet printers, and the MK920DVF single-sheet digital enhancement machine for digital UV and hot stamping effects without printing plates. Also includes MK600DPB industrial inkjet press, MK1060DPH high-speed inkjet coder, and MK820DPG intaglio press with inline inkjet coding. The MK920DVF delivers ±0.1mm positioning accuracy, one-sheet start capability, and adapts to 90%+ of print substrates.
• Laser Die-Cutting Machines (激光模切机) Laser die-cutting machines for non-contact cutting and creasing of packaging materials. Models include MK800SF and MK340LC laser die-cutting and engraving systems.
• Intaglio / Gravure Printing Presses (凹印机) RotoMaster series intaglio printing presses including the MK Rotomaster GP82. The company also partnered with Italian firm Ceruti to introduce the Ceruti R983/R98X series intaglio presses for paper and film printing.
• Waste Removal Machines (清废机) Automatic waste removal machines that strip die-cut waste from folded cartons. Includes the Rongyue (荣悦) full-auto waste removal machine and related models for downstream post-press operations.
• Paper Cutters (切纸机) Automatic paper cutting machines including HQ1922 and MK1300XZ/MK1450QZ intelligent cutters for trimming and cutting operations in packaging production lines.
• Flip Machines (翻转机) Paper flipping and handling machines such as the MK1300FZ for in-line sheet turning operations.
• Ronglian Huizhi Intelligent Manufacturing Solutions (荣联汇智智能制造解决方案) Integrated intelligent manufacturing solution suite including Ronglian AGV smart logistics system (automated sheet palletizing, transport, and warehouse delivery), digital twin visualization platform (synchronized equipment parameters, AGV paths, production orders), MES manufacturing execution system (order management, production scheduling, logistics control), and intelligent warehousing automation. Offered as a closed-loop 'equipment-logistics-control' solution for print packaging factories.
• Changrong Green Energy Photovoltaic Power Generation (长荣绿能光伏发电) Green energy business through Changrong Green Energy (长荣绿能) and Jiangsu Changrong Green Energy, developing and operating solar power stations and high-efficiency photovoltaic modules. Includes 100MW photovoltaic projects in Jinchang, Gansu Province, and high-efficiency PV modules supplying renewable energy to the printing and packaging industry.

Quantifiable outcome

• Production efficiency increased 3-4x with multi-process integration
• +6 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Two partnerships are on record, tiered minor and core.

• 金昌市建设投资开发（集团）有限责任公司 (Jinchang Construction Investment Development Group)minorStrategic or Co-development Partner · 12 November 2025Joint investment in 100MW photovoltaic power station project in Jinchang, Gansu Province. Total project company investment of 60 million yuan, with Masterwork holding 95% and partner holding 5%. This is Masterwork's second photovoltaic project in the region.
• Heidelberg (海德堡印刷机械股份公司)coreStrategic or Co-development Partner · 15 October 2025Strategic partnership since 2014 where Heidelberg distributes MK equipment internationally. In 2019, MK became Heidelberg's single largest shareholder. In 2025, expanded partnership to provide integrated, highly automated end-to-end solutions for packaging production. Heidelberg has installed over 1500 MK systems globally. Joint R&D and production of precision mechanical components at Heidelberg Shanghai factory since 2020.

Scale indicators6 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Bobst Group: Swiss-headquartered global leader in packaging and printing finishing equipment, including die-cutting, folder-gluers, and hot stamping. Closest direct competitor to Masterwork in folding-carton and corrugated finishing machinery worldwide.
• Sanwa (Japan): Japanese manufacturer of die-cutting, creasing, and packaging machinery with strong presence in Asian folding-carton markets. Comparable in product scope and customer base to Masterwork's die-cutting and inspection lines.
• TroPrint GmbH: European specialist in flatbed and rotary die-cutting equipment for labels and packaging. Comparable in product focus (die-cutting/finishing) but smaller in scale, focused on European label and folding-carton converters.
• Bograma AG: Swiss specialist in die-cutting and creasing machinery for folding cartons, similar format range and customer segments to Masterwork's Youzhen and Youyue series. Strong direct competitor in European premium die-cutting.

Broad incumbents

• Koenig & Bauer AG: German manufacturer of printing presses and special machinery for packaging, paper, and metal decoration. Comparable broad incumbent in the same end-markets, though focused on presses rather than post-press finishing.
• Manroland Sheetfed: German sheetfed offset press manufacturer serving commercial print and packaging converters globally. Overlaps with Masterwork at the customer level (same converters buy both presses and finishing equipment).
• Komori Corporation: Japanese printing press manufacturer with growing post-press and packaging finishing portfolio. Comparable as an incumbent serving the same packaging and commercial print customer base globally.
• Heidelberg Druckmaschinen AG: German printing press OEM and Masterwork's strategic distribution partner (largest shareholder relationship). Comparable as a global printing equipment manufacturer, but with a broader offset-press portfolio rather than a finishing-machinery specialization.

Emerging players

• Yuefeng Group: Emerging Chinese manufacturer of post-press and die-cutting equipment with growing international presence. Comparable product portfolio targeting the same mid-market segments where Masterwork's Youheng and Youyue lines compete.

Regional players

• Wenzhou Guolian Machinery: Chinese manufacturer of die-cutting and creasing machinery primarily serving domestic and Southeast Asian packaging converters. Comparable Chinese regional competitor in the mid-tier segment where the new Youheng sub-brand is positioned.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Masterwork Group