U-Tech Secures Order for 100 Million Masks from China... "First Contract Worth 15 Billion KRW"

[Asia Economy Reporter Yoo Hyun-seok] U-Tech announced on the 3rd that it has signed a mask supply contract worth 14.955 billion KRW (12.6 million USD) with Shanghai Huanyuan Cosmetics Co., Ltd. on the 3rd. Shanghai Huanyuan Cosmetics Co., Ltd. is an agent of Alibaba Group.

This contract is for the first batch of 12 million masks out of the total order of 100 million masks received from Alibaba Group. The company plans to deliver the masks to Alibaba's logistics warehouse in Jiaxing City, Jiangsu Province, China by the 10th. The remaining quantity is expected to be fully supplied by April.

The supplied 'KF94' masks can block particles averaging 0.4㎛ in size by more than 94%, protecting the respiratory system from particulate harmful substances such as yellow dust and fine dust, as well as various infectious agents.

U-Tech secured a collaborative network with Alibaba Group last year while promoting its cosmetics distribution business in China. According to the company, at Alibaba Group's request, it decided to enter the rapidly growing Chinese mask market to prevent the novel coronavirus (Wuhan pneumonia) infection.

A U-Tech official said, "We are visiting each mask manufacturer approved by the Ministry of Food and Drug Safety to secure the quantity desired by Alibaba Group," adding, "We are also negotiating additional supplies with several state-owned enterprises besides Alibaba Group."

This content was produced with the assistance of AI translation services.