(Yicai) April 10 -- Jieya Biologic Technology, a leading Chinese supplier of paper products, unveiled plans to establish a subsidiary in Egypt to invest in and build a local factory for CNY467 million (USD68.4 million).

Located in the China-Egypt Teda Suez Economic and Trade Cooperation Zone, the plant will have an annual production capacity of 8.1 billion disposable sanitary products, the Anhui province-based company announced yesterday. Construction is expected to last two years.

Jieya signed a land use right transfer agreement with the Teda Suez Economic and Trade Cooperation Zone last December to purchase a 160,000 square meter land plot for the new factory, the firm noted.

The project is in line with the company’s long-term development strategy and is conducive to improving its overseas production capacity layout, better meeting overseas customer demand, enhancing its profitability and risk resistance, and improving the international competitiveness of its products, Jieya said.

Jieya’s operating revenue climbed 41 percent to CNY770 million, and its net profit quadrupled to CNY77.3 million (USD11.3 million) last year from 2024, mainly because its overseas sales doubled to CNY520 million in the period, according to the firm’s 2025 financial statement. Domestic sales fell 12 percent to CNY250 million.

Founded in 1999, Jieya researches, develops, produces, and sells wet tissues. Its shares [SHE: 301108] were trading up 0.6 percent at CNY28.11 (USD4.11) apiece as of 2.25 p.m. in Shenzhen today.

Editor: Futura Costaglione