IT Tech Packaging Announced Strong Sales of Non-Medical Single-Use Face Masks in Beijing
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IT Tech Packaging, a manufacturer and distributor of diversified paper products in North China, today announced that it recognized revenue of RMB6.73 million through June 30, 2020 from the sale of 6.28 million pieces non-medical single-use face masks since launching the production line at the end of April 2020.
IT Tech Packaging noted that the sales had a gross margin of approximately 60%, which is higher than the anticipated 40% when launching the production in April.
The capacity of the non-medical single-use face mask production has ramped up to approximately 100,000 pieces per day to the market, the company said.
Orders are increasing at a robust pace from IT Tech Packaging's purchasing partners and the products are being sold to institutions, drugstores and supermarkets in Hebei Province.
"We are pleased our team opened up an outlet to our face mask products so efficiently, leveraging the existing market network," commented Zhenyong Liu, Chairman and CEO of IT Tech Packaging.
"The demand for protective necessaries such as single-use masks have been booming again due to recent relapses of COVID-19 in Beijing and some areas of Hebei Province. As people's awareness to infection risks increases, wearing single-use masks in densely packed locations such as schools, offices, workshops and public vehicles is becoming normal in China. As such, we expect increased demand beginning in September when students resume classes. Therefore, we believe our production and sales will continue to increase," Liu added.
