Scientific & Technological Innovation | Huabao started to make preparation for the top-level design project for scientific & technological innovation in 2023

The 20th National Congress of the Communist Party of China pointed out, “We must regard science and technology as our primary productive force, talent as our primary resource, and innovation as our primary driver of growth. We will fully implement the strategy for invigorating China through science and education, the workforce development strategy, and the innovation-driven development strategy. We will open up new areas and new arenas in development and steadily foster new growth drivers and new strengths.” “We should accelerate the implementation of the innovation-driven development strategy. We should speed up efforts to achieve greater self-reliance and strength in science and technology.” As a technology-driven enterprise, Huabao Flavours & Fragrances Co.，Ltd. (“Huabao” or “Company”) has always taken scientific and technological innovation as an important strategic measure for its development, invested a large amount of human, material and financial resources in it, and established and improved the scientific and technological innovation management system. In recent years, our annual average investment in research & development (R&D) has accounted for more than 7.5% of the operating revenue, and relevant scientific and technological projects have been implemented and commercialized, realizing the “double closed loop” of “management system” and “commercial value”.

We will work hard and forge ahead to make new breakthroughs. Recently, at the president’s office meeting, Ms. YUAN Xiaoqin, Board Director and President of Huabao, proposed to take “business model upgrading, digitalization, industry and finance integration, and technological innovation” as the development engine, and earnestly promote the implementation of “enterprise philosophy, management digitalization, asset securitization, and business globalization”. At the beginning of 2023, Huabao devotes itself to improving the scientific and technological innovation system, attaches importance to the cultivation of talents, focuses on the transformation of scientific and technological achievements into efficiency, and constantly promotes the scientific and technological innovation actions to provide solid support for the high-quality development of the Company.

Carrying out discussion on scientific layout and exerting market traction

The preparation for the “2023 Top-level Design Project for Scientific & Technological Innovation” was officially launched in February 2023. Huabao Annual Seminar on Top-level Design Project 2023 (“Seminar”) was held on February 7, 2023. The seminar was hosted by Dr. WANG Hongqiang, Vice President of Huabao Scientific Innovation Center. Colleagues from Huabao Scientific Innovation Center, Marketing Department, Sales Department and Investment Development Department attended the Seminar. The Seminar focused on market demand and scientific innovation to seek scientific innovation projects with commercial value, thus continuing to optimize the systematic construction of innovation management.

At the Seminar, Dr. WANG introduced the current global consumption trends, nutrition trends and flavor trends of food and beverage and the outstanding enterprise research reports in the industry. He guided the discussion group to analyze the Company’s product transformation and upgrading, and the scientific & technological innovation direction of food ingredients, striving to create high-quality scientific & technological innovation projects. In the process of promoting the top-level design project for scientific & technological innovation, the Company will strengthen the efficient collaboration of all departments, gather the joint force of scientific & technological innovation, and make good plans for the development of scientific & technological innovation with a global vision and forward-looking thinking.

Emphasizing IPR protection and exerting talent innovation

As a pioneer in the practice of intellectual property right (IPR) protection in the industry, Huabao always regards technological innovation as the core competitiveness of enterprise development. With the acceleration of the Company's innovation pace, it is necessary to further strengthen the protection of independent intellectual property rights, stimulate the innovation vitality of talents, improve the knowledge work management system, and promote the quality and efficiency of scientific research projects.

On February 6, 2023, the “R&D Empowerment Certification Project” training organized by the Science and Technology Management Department of Huabao Scientific Innovation Center officially started. The two-week online training was provided by PatSnap Information Technology (Suzhou) Company for the scientific innovation personnel of Huabao and its subordinate enterprises. The “theory+ practice” training has improved the intellectual property literacy and protection ability of R&D and innovation personnel, so as to enhance the quality of innovation source, stimulate the internal innovation vitality of enterprises, accelerate the transformation of the value of innovation achievements, and facilitate the achievement of strategic business objectives of the Company.

Scientific and technological innovation is the strategic support to promote the high-quality and sustainable development of Huabao. This year is the most critical year for Huabao to achieve its three-year strategic goals. The Company would adhere to innovation-driven development, focus on the global market demand, take the scientific and technological innovation top-level design project as the carrier, and pay attention to the cultivation of talents, enhance the independent innovation ability, and constantly optimize the scientific and technological system, thus realizing the new development pattern of “domestic+ international” double circulation and mutual promotion, endeavoring to achieve the business objectives, and striding forward on the road of high-quality development.