M&G (Chinese: 晨光文具, Chéngguāng Wénjù, literally “Morning Light Stationery”) is a major Chinese stationery and cultural-products brand owned by Shanghai M&G Stationery Inc. (上海晨光文具股份有限公司). Best known for its pens, pencils, notebooks, school supplies and office stationery, the company has evolved from a domestic writing-instrument business into a large integrated stationery and creative-lifestyle enterprise.1

The company distinguishes between 1989, when the founder began the business, and 1997, when the M&G trademark was officially launched.2

While primarily recognised as a stationery brand, M&G operates well beyond simple pen manufacturing. Its product portfolio encompasses ballpoint pens, gel pens, fountain pens, mechanical pencils, wooden pencils, markers, highlighters, erasers, sharpeners, notebooks, paper products, student and office stationery, art supplies, school bags, and creative lifestyle items.

The company describes itself as an integrated stationery supplier that combines product design, research and development, manufacturing, supply-chain management, distribution and retail.3 This vertically integrated model has been central to its scale within the Chinese market.

1989: Early beginnings

M&G traces its origins to 1989, when founder Chen Huxiong started a business in two small houses in Hengshan Village, Gurao Town, Shantou, Guangdong. Having previously worked as a salesman, Chen identified stationery as a viable sector due to the recurring demand for school and office supplies and their relative ease of storage.4

1997: Launch of the M&G trademark

The M&G trademark was officially launched in 1997, marking a transition from trading and manufacturing to developing a recognisable consumer brand. During this period, the company began establishing relationships with distributors and building a nationwide sales network across China.5

1999: Manufacturing integration

By 1999, M&G had relocated to Liuli, Pudong, Shanghai. With over 100 employees, it established in-house mould workshops, injection-moulding operations, printing facilities and assembly lines. This marked the beginning of the vertically integrated manufacturing system that became a key competitive advantage.6

2002: The K35 gel pen

A historically significant product was the K35 gel pen, introduced in 2002. According to the company, its development required 180 days of process debugging and 17 rounds of optimisation. The K35 became one of M&G’s classic products and helped cement its reputation in the gel pen and writing instrument categories.7

2005: Boao Forum designation

In 2005, M&G became a designated stationery supplier for the Boao Forum for Asia, a role it has maintained for many years. It subsequently supplied stationery for other high-profile events, including APEC-related conferences and the Global CEO Conference.8

2013: Shanghai industrial park

M&G completed its Shanghai industrial park in 2013. The facility, which includes a large automated warehouse, became a critical component of its manufacturing and logistics infrastructure.9

2015: Public listing

A major corporate milestone occurred in January 2015 when Shanghai M&G Stationery was listed on the Shanghai Stock Exchange under stock code 603899.10

2017 onwards: Strategic transformation

From 2017, M&G began expanding its concept from traditional stationery towards a broader cultural and creative lifestyle business. The company articulated a strategic transformation centred on the brand, moving “from stationery to cultural and creative life”, while simultaneously expanding its retail and office-service divisions.11

The M&G logo is designed to communicate both its Chinese heritage and international ambitions. According to the company, the letter M is rendered in Chinese red to symbolise its domestic origins, while the G appears in international black to represent its global presence. The overall concept evokes the morning sun, signifying hope, vitality and courage.12

M&G’s stated mission is to “Make study and work more joyful and efficient”, with a vision “To build a world-class enterprise”. Its corporate values include consumer orientation, openness and inclusiveness, sincerity, focus, and win-win cooperation. Through these principles, the company positions stationery not merely as functional equipment but as a means to enhance the experience of studying, working and creating.8

Distribution network

M&G has built an extensive offline distribution network. The company states that its products are available through nearly 70,000 retail points in China, alongside more than 900 larger retail stores operating under formats such as M&G LIFE.13 This density is particularly significant in the Chinese stationery market, where purchases are typically high-frequency and low-value transactions.

Vertical integration

Unlike marketing-led companies that outsource production, M&G maintains substantial in-house capabilities spanning design, R&D, mould making, materials sourcing, manufacturing, quality control, logistics, distribution and retail. The company combines proprietary manufacturing with OEM outsourcing where appropriate, allowing for greater control over costs, product development and speed to market.14

Product breadth

A further advantage is SKU breadth. Rather than relying on a single flagship product, M&G offers a comprehensive stationery ecosystem. Consumers can purchase gel pens, mechanical pencils, leads, erasers, rulers, highlighters, notebooks, correction tape and pencil cases from a single brand, creating significant cross-selling potential.

M&G increasingly emphasises design over pure cost competition. The company invests more than RMB 100 million annually in R&D and product design and holds more than 1,400 patents.15 Its products have received international recognition including the iF Design Award and Red Dot Award (Germany), G-Mark (Japan) and IDEA (United States). Domestically, it has won awards such as Red Star and Golden Pin/Golden Dot distinctions.16 This reflects a shift in positioning from “cheap Chinese stationery” towards “designed Chinese stationery”.

Beyond conventional stationery shops, M&G has developed new retail concepts. M&G LIFE / 晨光生活馆 focuses on stationery and lifestyle products, while Jiumu Sundries Store (九木杂物社) targets the cultural, creative and lifestyle merchandise segment. These formats reflect a strategy to position stationery within a broader lifestyle and creative ecosystem, catering to younger consumers who view stationery as a form of personal expression, collecting and hobbyist consumption.

Although predominantly associated with China, M&G has actively pursued international growth. The company exports to more than 100 countries and regions and maintains partnerships worldwide.17 Expansion efforts include international distribution, overseas offices, design cooperation, acquisitions and participation in trade exhibitions. Notably, M&G acquired Axus Stationery in 2019 and collaborates with international design and stationery brands.18 This strategy integrates foreign brands and international design resources rather than simply exporting domestically produced goods.

M&G operates as a corporate group comprising several distinct business units:

• M&G Colipu: An office-supply and procurement platform positioned as a one-stop service for corporate clients, extending the group’s reach beyond physical stationery.19
• M&G LIFE: A retail concept combining stationery with lifestyle products.
• Jiumu Sundries Store: A retail chain focused on cultural, creative and lifestyle merchandise.
• M&G Technologies: A division handling internet and e-commerce capabilities within the group structure.20
• More-Than-Fun: Established in 2020 as an independent trendy cultural and creative brand focusing on hobbies, IP, creators and lifestyle products.21

These subsidiaries illustrate the group’s evolution from a stationery manufacturer to a diversified cultural and lifestyle enterprise.

Sustainability has become increasingly prominent in M&G’s corporate agenda. In 2022, the company released its 2021 ESG report, described as the first such report published by a listed company in China’s stationery industry.22 In 2023, M&G collaborated with Meituan’s “Lush Mountain Plan” to create a carbon-neutral stationery series using recycled takeaway boxes.23 These initiatives address environmental concerns related to plastic consumption, packaging, manufacturing emissions and recycling.

M&G has grown into a large publicly listed consumer and manufacturing company. According to its corporate profile, 2025 revenue was approximately RMB 25.064 billion. This scale positions M&G as a multifaceted entity combining consumer branding, manufacturing, distribution, retail, office services and cultural-creative products.

M&G competes in the Chinese stationery market alongside brands such as Deli (得力), True Color (真彩), Hero (英雄) and Snowhite (白雪). Its historical strengths lie in writing instruments, student stationery, brand building, design and distribution density. Gel pens remain central to its identity.

Ratings are qualitative assessments rather than official metrics.

M&G’s development illustrates a broader trajectory in modern Chinese consumer manufacturing. The company has progressed through distinct stages: from a small stationery business to a national manufacturer, then to a listed corporation, and subsequently to an integrated stationery and cultural-creative company with international reach. This evolution reflects a shift from low-cost manufacturing towards owning brands, designs, distribution channels and direct consumer relationships.

As of 2026, M&G describes itself as one of the world’s largest stationery manufacturers. Its corporate profile reports nearly 70,000 retail points in China, more than 900 large-format retail stores, exports to over 100 countries and regions, more than 1,400 patents, and 2025 revenue of approximately RMB 25.1 billion. The company’s current strategic direction extends beyond selling pens to building an ecosystem around study, work, creativity and lifestyle, while continuing to develop international markets and Chinese-origin creative brands.

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12. ข้อมูล ห้างหุ้นส่วนจำกัด เอ็ม แอนด์ จี เครื่องเขียน 2019
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22. M&G STATIONERY | LinkedIn
23. Shanghai M&G Stationery | World Economic Forum