In 1993, due to the serious losses of the Huangyan Canned Food Factory, the government adopted the “big ship stranded and the small boat escaped” to restructure the system. The 165 employees and 25 retired employees of the original first workshop were replaced by 6.6 million in debt from the original factory. Wu Yongjin Comrades led the formation of the "First Branch of Huangyan Canned Food Factory", which was self-managed, responsible for its own profits and losses, and embarked on a difficult and self-help entrepreneurial journey; after two years of unremitting efforts, all employees established their own customers and markets and finally turned losses into profits.
The Huangyan government has further implemented system reforms. Based on the original Huangyan Canned Food Factory’s first branch, 10,000 yuan per share. 47 employees including Wu Yongjin invested 2.18 million yuan in capital, accounting for 68.55%. State-owned shares accounted for 31.45% in kind. Invested and established the self-operated, independent accounting, self-financing joint-stock cooperative enterprise-"Zhejiang Huangyan No. 1 Can Food Factory".
In response to the government's call for pollution control, the company implemented the overall relocation from the urban area to the Huangyan Jiangkou Canned Food Industrial Park, and passed the sanitary registration of export food companies and completed and put them into production. Establish a HACCP leading group and implement HACCP food safety management system for canned fruit products.
Zhejiang Huangyan No. 1 Canned Food Factory and South Korea Meili Co., Ltd. jointly established Zhejiang Yimei Foods Co., Ltd. with an export code of L57. It is the earliest domestic enterprise engaged in the research and development, processing and production of plastic cup export cans.