On June 18, 2022, the groundbreaking ceremony for the second phase of Jiangsu Bafang Industrial Equipment Company Limited and Xuzhou Bafang Safety Equipment Company Limited was held.

General Manager Shu Yuan and Chief Engineer Liu Lili of Octagon, Secretary Wang Guangjun of the Standing Committee of the District Party Committee, Director Wu Bingjun of the Management Committee, and other leaders of relevant departments of the Quanshan Economic Development Zone were invited to attend the groundbreaking ceremony.

Eight companies in Xuzhou Quanshan Economic Development Zone to invest in the construction of the safety relief device manufacturing and testing base project, plans to invest 500 million yuan, covers an area of 81 acres, construction area of 64,000 square meters, the main construction of research and development, manufacturing, communication in one of the integrated project.

The project base, as the operational headquarters of Octagon, will be based in Xuzhou, with an eye on the world, and will strive to build the largest R&D, testing and production base for safety relief products in China and even Asia. The construction of the second phase of the Xuzhou Octagon project will provide a solid foundation for Octagon's further development and internationalized operation strategy.