New Internationalization Journey| PT HUABAO FOOD TECHNOLOGY INDONESIA Entered “Silicon Valley” in Jakarta

Since the establishment of the comprehensive strategic partnership, China and Indonesia have adhered to the principles of extensive consultation and joint contribution for shared benefit to facilitate common development of the two countries, which has become an important example of international cooperation under the “Belt and Road” Initiative. As a leading F&F enterprise in China, Huabao Flavours & Fragrances Co., Ltd. (“Huabao”) has been actively promoting the international industrial layout. Since Ms. YUAN Xiaoqin, President and member of the Board of Directors of Huabao, led her team to visit the Indonesian market for the first time in May 2023, it has been one year. With the joint efforts of the overseas team and the Headquarters, Huabao’s business development in Southeast Asia has officially entered systematic and standardized operation.

With intense preparation and joint efforts of the Chinese and Indonesian teams, the new office building of PT HUABAO FOOD TECHNOLOGY INDONESIA (hereinafter referred to as “PT HUABAO INDONESIA”) under Huabao was officially unveiled and put into use on June 4, 2024, opening a new chapter in the development of Huabao’s overseas food business. Ms. YUAN, relevant leaderships of Huabao and team members of PT HUABAO INDONESIA attended the unveiling ceremony and started a new journey together with the Indonesian team.

Ms. YUAN said in her speech, “The official opening of the new office building is another solid step taken by Huabao on the journey of internationalization, marking the Company’s important layout and a new starting point in the Southeast Asian market, and also an important measure for the Company to respond to the national ‘Belt and Road’ Initiative and to actively participate in global economic development. Huabao will continue to put customer first, make continuous innovation, and keep improving, thus to provide customers with more high-quality products and services.”

The new office building of PT HUABAO INDONESIA is located in the BSD known as the “Silicon Valley” in Jakarta, which functions as the Indonesian market development center, the localized product R&D center and the localized technical service center. There are three functional areas in the office building: the exhibition area, the office area, the R&D and application laboratory. With the official opening of the office building in BSD, Huabao can not only better serve the Indonesian market, but also introduce more natural raw materials with the advantage of Indonesia’s location, and bring more innovative solutions to local and global customers through Huabao’s international R&D system and leading technological innovation capabilities, and also contribute to facilitating economic and cultural exchanges between China and Indonesia.

The unveiling of the new office building coincided with the hot sales of Tomoro Coffee and Garfield IP co-branded products. At the ceremony, the participants tasted the Butter Cookie flavored lattes, a hot-selling product that Huabao jointly created with Tomoro Coffee. From the first order in February this year to the first hot-selling terminal product in May, from the humble temporary office to the official opening of the office building today, the participants reviewed the hard start in the Indonesian market and the current harvest at the Ceremony. The team knows that only by constantly going out can we better participate in global competition and inject new vitality into the sustainable development of the Company.

The official settlement of PT HUABAO INDONESIA in Jakarta BSD not only marks the firm determination of Huabao’s internationalization strategy, but also will bring more new opportunities for the Company’s development in the Indonesian market. In the future, the Company will adhere to the strategic mission of “green, nutritious and healthy”, build a raw material system for food ingredients and F&F products in Southeast Asia with Indonesia as the center, integrate and build a localized supply chain, provide end-to-end overall solutions for the overseas development of more domestic food and beverage enterprises, bring more systematic and customized products and more innovative solutions to global customers, and bring more high-quality products and services to the local market. Meanwhile, the Company will gradually introduce ESG development strategy, lean production and other management concepts into the Indonesian team to ensure the healthy and sustainable development of the Company on the journey of internationalization strategy, so as to achieve greater leapfrog development.