Government-Enterprise Exchanges for Further Development |Huabao Participated in the Exchange Meeting for Listed Companies in Tibet

Recently, the Tibet Securities Regulatory Bureau held an on-site meeting for some listed companies under its jurisdiction. Mr. WEI Xiuchang, Vice-Chairman of the People's Government of the Tibet Autonomous Region, attended the meeting and delivered a speech. Mr. ZHANG Song, Secretary of the Party Committee and Director of the Tibet Securities Regulatory Bureau, presided over the meeting. Relevant heads of nine departments in the Tibet Autonomous Region, Ms. YUAN Xiaoqin, Director and President of Huabao, and chairmen or general managers of listed companies such as Meihua Group, Tibet Mining, and Qizheng Tibetan Medicine participated in the meeting.

At the meeting Ms. YUAN Xiaoqin, Director and President of Huabao, made a relevant introduction on the Company's development status, development strategy and performance of its social responsibilities, and put forward suggestions on targeted poverty alleviation, rural revitalization, and promoting high-quality development of economy and technologies of Tibet, around the theme of "Integrating into the Overall Economic and Social Development of Tibet and Promoting High-quality Development of Huabao".

At present, the global economy is gradually recovering, the balance of international power is changing, and global challenges are increasing. China's flavor and perfume industry is changing from rapid growth first to quality growth first. Transformation, upgrading, and change of development mode have become turning points in the industry. Huabao adheres to the mission of "green, nutritious, and healthy" and adopts the development strategy of "concentric diversification" to actively respond to development changes, strengthen the dual drive of "endogenous growth" and "mergers and acquisitions", search for domestic investment opportunities in key business areas, strengthen the full chain coordination mechanism, improve the industrial chain layout, upgrade its industrial structure, and optimize the systematic construction of scientific and technological innovation management. At the same time, the Company actively responds to the high-quality development requirements of the "the Belt and Road" Initiative, facilitates the international development strategy, speeds up the global layout, and advances its business development.

Huabao deeply implements the ESG concept, deepens green and sustainable development, gradually introduces the ESG evaluation system, improves its risk identification and prevention mechanism, standardizes the risk management process and internal control system, and feeds back and rewards the society with excellent performance. Since its settlement in Tibet, Huabao has been actively responding to the call of national policies, paying close attention to Tibet's livelihood undertakings, promoting a number of poverty alleviation and rural revitalization undertakings, and has been successfully selected as the "Outstanding Practice Case of Rural Revitalization of Listed Companies". The Company will continue to actively respond to the policy call, strive to build a foreign-funded R&D center in Tibet, further improve the development level and scientific and technological innovation ability by virtue of its globalization strategy and Huabao International Intelligent Innovation Platform, optimize the integrated application of its industry and Tibetan characteristic resources, strengthen the construction of its projects in Tibet, help Tibet to comprehensively build a new business card of "the third pole of the earth", thereby driving the high-quality development of Tibet.

After carefully listening to the speeches of the company representatives, Chairman Wei expressed his gratitude for the important contributions made by the listed companies. He also stressed that to further improve the quality of listed companies and better serve the development of Tibet, it is necessary to take the following measures: firstly, improving the political position and deepening the understanding of the extreme importance of listing and listed companies; secondly, adhering to the combination of their own efforts and government guidance to achieve high-quality development of listed companies; thirdly, adhering to the unity of self-development and serving the local area to be a model for serving the "four creations". Director Zhang pointed out that the high-quality development of the capital market cannot be separated from the standardized operation of listed companies. The "key minority" of each company should enhance the awareness of standardized operation, adhere to the bottom line of compliant operation, improve the corporate governance level, implement the reform requirements of the independent director system, focus on the development of the main business, improve the long-term mechanism for risk prevention and control, take the overall political situation into account, strictly implement the provisions on reducing holdings, and standardize the behavior of reducing holdings.

This event has brought listed companies in Tibet closer to the government and enhanced their communication and exchange. In the future, Huabao will seize the opportunities and work together with local government to consolidate the core integrated industrial chain, promote the high-quality development of the Company, strive to become a global leader in the flavor industry, practice its corporate social responsibility, and help the high-quality economic development of Tibet.