Conclusion & Commercialization: Huabao Has Achieved “Double Closed-loop” for Its Project Management

Recently, Huabao held the “2022 Science and Technology Project Conclusion Review Meeting”. Relevant project leaders made comprehensive concluding reports to the science and technology project review team at the Meeting, focusing on the final technical achievements, its market prospects, customer feedback and implementation& commercialization effects. After strict deliberation by the review team, the “Functional Food Popping Boba Project”, “Fragrance Database Project” and “E-cigarette Flavor Research Project” were finally honored “Huabao 2022 Annual Science and Technology Project Award”, which also marked Huabao’s realization of the “double closed-loop” of “management system” and “business value” in its scientific and technological innovation management.

I. Conclusion Review: the scientific and technological innovation management system has achieved the “management closed-loop”

Huabao has always regarded science and technology as the primary productive force and scientific and technological innovation as a solid support for high-quality sustainable development and strategic transformation and upgrading. Huabao attaches great importance to the construction of scientific and technological innovation management system. In order to give full play to the synergy effect of Huabao’s R&D units, in the first half of 2022, Huabao comprehensively upgraded the original scientific and technological innovation management system, launched the promotion work of “annual science and technology project” and “top-level design project” successively, and further strengthened the ability of independent innovation, collaborative innovation and external cooperation innovation with the guarantee of the management system, thus to ensure the effective implementation and goal achievement of science and technology projects, improve the efficiency of commercialization of scientific and technological results, create a scientific and technological innovation ecology, and continue to play the important role of science and technology in the Company's innovation and development. The holding of the "2022 Science and Technology Project Conclusion Review Meeting” marks that the upgraded scientific and technological innovation management system has achieved a complete closed loop.

II. Implementation& commercialization: The scientific and technological innovation results have achieved the “value closed-loop”

While continuously iterating the management system of scientific and technological innovation, Huabao attaches great importance to the value transformation of technological innovation results, emphasizes the internal extension application of basic research technology and the commercial value transformation of product innovation technology, and actively promotes the deep integration of the “innovation chain" and the "industry chain”.

The projects that won the first prize this time are characterized by both joint innovation and industrial chain collaboration. Such projects are based on in-depth research and judgment of consumption trends and comprehensive sorting of supply chain ecological resources. The business teams and technical teams jointly propose product innovation direction and new product concept, and give full play to Huabao's industry chain integration ability. The three technical teams of Huabao’s own food sectors cooperate closely with supply chain partners, work together to overcome technical difficulties, finally get the product to market, and obtain the unanimous recognition of customers, thus to achieve a complete value loop from technical concept to commercial transformation.

Huabao’s science and technology project management has achieved “double closed-loop”, which means that the upgraded R&D management system of Huabao has formed a complete management chain. From technical concept, demand assessment, R&D plan to R&D implementation, production supply and sales transformation, each link has a standardized management system and control mechanism, which effectively ensures the efficiency and quality of scientific and technological innovation, helps to improve the Company’s management level and economic benefits, and guarantees the Company’s long-term development .

This Project Conclusion Review Meeting is not only a summary and commendation for relevant science and technology projects, but also reflects Huabao’s high attention to scientific and technological innovation. While continuously optimizing the management system of scientific and technological innovation, Huabao will orderly facilitate the construction of digital R&D management, further strengthen the ability to promote the industrialization of scientific and technological innovation, comprehensively enhance the value transformation of scientific and technological innovation and facilitate its sustainable development, thus to provide a steady flow of development momentum for achieving the enterprise mission of “Green, Nutritious and Healthy”.