From the Press Release: "With a population of over 6 million,...

From the Press Release:

"With a population of over 6 million, Nanjing is the second-largest commercial centre in the East China region. Nanjing Jianye is one of 13 districts of Nanjing City."

"Contract represents 7% of Nanjing City households with potential to expand rollout."

7% of 6m = 420,000 people.

I'd personally go with 3 people per household, but let's say 4 for the sake of agreement.

105,000 households.

Cannot split bags in half otherwise they waste half a bag per week (assume collection is weekly). But okay, say 1.5 for the sake of agreement.

I get 8,190,000 bags per year.

"The new factory has increased Biohybrid™ and Compostable bagmaking capacity to 100million bags
per year, meeting the increasing global demand for Cardia’s carry and waste management bags, hygiene and nappy films and custom products."

So the Jianye district contract, which represents 105,000 households, or 6% of Nanjing City, chews up 8% of the annual bagmaking capacity of the new plant and this meets the increasing global demand?

I'd still contend that 1 or even 1.5 bags per family per week is not enough for their household waste...but anyway, if 1.5 bags per week, this values the annual potential turnover of this factory at around $12m.

Remember, this max capacity meets the increasing global demand for Cardia’s carry and waste management bags, hygiene and nappy films and custom products.

As Cag said, output of big bagmaking producers is in the billions. If this factory is to meet growing global demand, I'd contend that their 100m capacity comment seems wrong. Otherwise, they'd need dozens of equivalent factories to be getting into the billions of bagmaking capacity per year. Having looked online at plastic bag making machines (and okay, we cannot make perfect comparisons, but approx is okay), some machines individually have capacities of upwards of 100m per year. Cost of machines is in the $tens of thousands.

Bottom line is figures seem incorrect.