Generally, many high-strength alloy materials used in aerospace, power and chemical industries have strength differential effect in tension and compression (SD effects). Usually, in mechanical calculations of sheet metal forming, Treasca yield criterion and Mises yield criterion are applied. Because the yield criterions don’t take SD effects into consideration, the calculation result may have errors for certain materials. However, generalized twin shear stress yield criterion, which takes into account the influence of the intermediate principal stress, is more suitable for most metal materials than Mohr-Coulomb strength theory. Therefore, this article has made plastic analysis on thin film stress issues of metal sheet forming with generalized twin shear stress yield criterion. We have obtained a unified plastic solution to the internal and external stretching issue of thin material with rounded holes and different tension and compression ratio. Providing a new result with wider applicability is very significant.