To further develop the business of high-quality bamboo, Suncha has built an annual processing project of 300,000 tons of bamboo

On July 11th, Suncha signed the “Project Investment Cooperation Agreement” with the Xiaofeng goverment, Anji County, Zhejiang Province, to build a project of processing 300,000 tons of bamboo annually and build a bamboo comprehensive industrial base with a total construction area of 80,000 square meters. The total investment of the project is estimated to be31.62 million USD.

The location of the investment project is located in Anji, “the first bamboo township in China”, which ranks first in China in terms of annual output of commercial bamboo timber, annual output value of bamboo industry and annual export value of bamboo products. In response to the “Opinions on Accelerating the Innovative Development of Bamboo Industry” issued by China government, Suncha has been actively laying out the first production and focusing on the second production to promote the high-quality development of bamboo industry, and this investment is a positive initiative of the company to promote the innovative development of bamboo industry, which is conducive to the formation of new core competitiveness and profit growth point of the company in bamboo industry. The investment project shows Suncha wants to enter high quality bamboo materials market, which is conducive to the integration of the existing industrial layout of the company and has positive significance to the long-term development of the company.

In January 2020, the Chinese government issued Opinions on Further Strengthening the Control of Plastic Pollution, proposing a “plastic ban”, which prohibits and restricts the use of traditional plastics by industry and region.The European Union, the United States and China have begun to upgrade the “plastic restriction order” to “plastic ban order”. In November 2021, some Related government departments issued the Opinions on Accelerating the Innovation and Development of the Bamboo Industry in China through relevant policy support.

In the context of “bamboo instead of plastic”, Suncha has been increasing the research and development and promotion of bamboo disposable products. In the United Nations Climate Change Conference in November 2021, more than 100 countries signed an agreement and committed to stop cutting tropical rainforests and primary forests by 2030. In this background, the company put forward the strategic plan of “bamboo instead of wood”, and as a “National Key Leading Enterprise of Agricultural Industrialization”, “National Key Leading Enterprise of Forestry”, and “China Leading Enterprise of Bamboo Industry”, the company has become a leading enterprise of bamboo industry. As a “National Key Leading Enterprise of Agricultural Industrialization”, “National Key Leading Enterprise of Forestry” and “Leading Enterprise of Bamboo Industry in China”, the company has first-mover advantages in many fields, such as the synergy of primary, secondary and tertiary industries in the bamboo industry, the improvement of high-value technology of bamboo materials, the R&D and marketing of bamboo fiber products, and the R&D and application of related automatic equipment.

The technical innovation accumulated for many years makes Suncha stands out in the homogeneous competition and build a wide “moat” of advanced technology. The signing of this high-quality bamboo project has laid a solid foundation for promoting the innovative development of bamboo industry. In the future, Suncha will continue to cultivate the bamboo industry, carry out the transformation and upgrading of bamboo industry by empowering the upstream and downstream industry chains, promote the high-quality bamboo material project, promote the high-quality development of bamboo industry, and form the new core competitiveness of Suncha.