Scientific and Technological Innovation| Huabao aims at future development to draw the blueprint for scientific and technological innovation —Records of Huabao’s 2023 review meeting for scientific and technological innovation project approval
2023/04/28
Since the 18th National Congress of the Communist Party of China (CPC), the CPC Central Committee with Xi Jinping as the core has been putting scientific and technological innovation center stage in national development, sticking to the path of independent innovation with Chinese characteristic, making China an innovative country and a strong country in science and technology, pushing forward historic changes and historic achievements in the cause of science and technology, and leading our country successfully into the ranks of innovative countries. Huabao Flavours & Fragrances Co.，Ltd. (“Huabao” or “Company”) has been regarding scientific and technological innovation as the first driving force for sustainable development of enterprises, and has created a strong atmosphere of scientific and technological innovation leading future development of flavors industry and offered system guarantee, policy support and reward incentives across the Company. Scientific research and technical personnel of Huabao Scientific and Technological Innovation Center and subordinate enterprise technology centers actively respond to and participate in scientific and technological innovation. The scientific and technological innovation projects spring up one after another. Relevant scientific and technological projects have been implemented and commercialized, realizing the “double closed loop” of “management system” and “commercial value”. With the announcement of science and technology projects in 2023, Huabao’s science and technology projects in 2023 have entered the formal implementation stage.
In 2023, Huabao’s science and technology project approval work follows the guidance of the corporate mission of “Green, Nutritious and Healthy” and closely focus on the two major directions of Huabao’s business transformation and upgrading of “fragrance and flavor upgrading” and “healthy food ingredients”. In terms of the science and technology project approval work, we will aim at technological innovation and product innovation to continuously improve the company’s core competence and market competitiveness. Since the end of 2022, the Science and Technology Management Department has organized R&D teams of Huabao Scientific and Technological Innovation Center and Huabao’s subordinate enterprises to actively participate in the application for various science and technology projects of this year and submit project charters. After several rounds of preliminary review, discussion and revision, the Science and Technology Management Department organized the 2023 expert review meeting for science and technology project approval on March 10, 2023, March 21, 2023, and April 28, 2023 respectively.
A total of 17 projects submitted by Huabao Scientific and Technological Innovation Center, Guangzhou Hua Fang Tobacco Flavors Co., Ltd. (“Guangzhou Hua Fang”), Shanghai H&K Flavours & Fragrances Co., Ltd. (“H&K Flavor”), Better World Naturals Co., Ltd. (“Better World Naturals”) and other entities participated in this review meeting for project approval. The contents of the projects involved the R&D of plant extraction and other products. At this review meeting for project approval, each project leader successively made a detailed report and open reply on the project purpose and necessity, specific implementation plan, technical path and innovation point, project organization and budget, expected output and other aspects. Then, the participating experts put forward comprehensive evaluation opinions and suggestions for each project.
The expert panel unanimously agreed that the science and technology projects under application this time can closely focus on the development strategy of “multi-pronged and focused growth”, adhere to the corporate mission of “Green, Nutritious and Healthy” in the aspects of topic selection, innovation points, research content and technology implementation, and follow the guidance of market insight and consumer demand, fully reflecting the significant improvement of the comprehensive ability of the company’s technical R&D personnel in the aspects of theoretical level and technological innovation. Through the on-site expert review, 12 projects finally passed the review for project approval.
In the final summary session, Ms. YUAN Xiaoqin, member of Board of Directors (BoD) and President of Huabao, gave instructions on the Company’s scientific research work: innovation determines our development and future. We need to grasp the “key variable” of scientific and technological innovation, strengthen the deep integration of scientific research project work and the Company’s business, and enhance the enterprise’s core competitiveness, thus jointly promoting the Company’s scientific and technological innovation to a new level, and laying a solid foundation for the Company’s business strategy transformation.
There is no end to scientific and technological innovation. Huabao staff will continue to carry forward the enterprise spirits of “Innovation, Pragmatism, Loyalty, and Collaboration”, closely combine it with people’s yearning for a better life and demand for green and healthy products, and make continuous innovation to flavor your life and create high-quality life for you.