The morning of January 21, 2021, the signing ceremony for the Jiangsu Bangyu Film Technology and YUSHI Film Technology projects was held in Xuyi County. Deng Yong, the Secretary of the County Party Committee, attended the ceremony and delivered a speech. Sun Zhibiao, the Deputy Secretary of the County Party Committee and the County Mayor, presided over the signing ceremony. Lin Xiao, the Chairman of Zhejiang YUSHI Packaging Materials Co., Ltd. and the Chairman of Jiangsu Bangyu Film Technology Co., Ltd., Li Xumeng, the General Manager of Jiangsu Bangyu Film Technology Co., Ltd., Chen Zhaonian, the Director of the Strategic Committee, Lin Zhangbu, the General Manager of Vietnam YUSHI Company, Lin Ding'an, the General Manager of Jiangsu Yushi Film Technology Co., Ltd., as well as county-level leaders Gao Jinfeng, Chen Bingxin, Wang Changjun, Zhang Chunlin, and other attendees participated in the ceremony. Executives from Bangyu and Yushi companies, as well as the primary responsible persons from various towns (streets) and key departments, also attended the event.

The YUSHI Functional Film Project

The YUSHI Functional Film Project, with a total investment of approximately 500 million yuan by Zhejiang Yushi Packaging Materials Co., Ltd., occupies an area of 200 mu (approximately 13.33 hectares) and involves the construction of a new factory building of 80,000 square meters. YUSHI is the only Chinese supplier of hot stamping films selected for the international tobacco supply chain. Recently, the operational team of Zhejiang YUSHI has been relocated to Xuyi Economic Development Zone, where the company has purchased internationally advanced production equipment to build a third-generation intelligent manufacturing plant with a high starting point. Utilizing advanced systems such as CIM, ABE, MES, and ERP for intelligent production, the company's main products include high-end hot stamping films, aluminum-coated composite films, automotive window films, and more. The first phase of the project is planned to start in May 2021 and is expected to be completed and put into operation in 2023, with an annual production capacity of 18,000 tons. The second phase is anticipated to be completed in 2028, bringing the total annual production capacity to 22,000 tons. Upon full operation of both phases, the project aims to achieve annual sales revenue of 700 million yuan and tax revenue of 50 million yuan.