Scientific & Technological Innovation | Huabao officially started the approval review of top-level design project for scientific & technological innovation  

We should pursue long-term sustainable development instead of short-term development. We should consider problems from a global perspective, thus meeting with success. The original meaning of top-level design is to consider all levels and elements of the project, trace to its source, take charge of the whole situation, and seek solutions to problems at the highest level.

Since starting the new journey of strategic transformation and upgrading, Huabao Flavours & Fragrances Co.，Ltd. (“Huabao” or the “Company”) has always taken scientific and technological innovation as a solid support for the high-quality development of the Company, and attached great importance to the systematic construction of scientific and technological innovation management. Since the official establishment of Huabao Scientific Innovation Center, the Company has been promoting the development of science and technology projects in an orderly manner, conducting layout in popular industries with “top-level design project for scientific & technological innovation”, and breaking through technical bottleneck and industry difficulties with “science and technology project”, thus to build a clear and well-bedded research system across regions, fields and disciplines.

The Top-level Design Project for Scientific & Technological Innovation was officially launched in March 2022. The Review Committee made a comprehensive analysis and full discussion of 11 proposed projects from multiple dimensions such as market capacity, product trend, competitive environment, R&D capacity, and finally selected 5 projects as the first batch of top-level design projects to start project preparation. During the lockdown period due to the outbreak of the COVID-19 pandemic, the Vice President of Huabao Scientific Innovation Center personally led the team and gave remote guidance. After nearly two months of in-depth perfection, five top-level design projects officially entered the project approval review stage.

On June 24, 2022, the project review meeting for the first batch of “top-level design project for scientific & technological innovation” was officially held at Huabao Shanghai Industrial Park. Ms. YUAN Xiaoqin, President and member of Board of Directors of Huabao, along with the core management and the leaders of the technical teams of the Scientific Innovation Center, participated in the review of the projects as assessment experts. Each project team elaborated and defended the project in the aspects of project background, market development trend, project implementation plan, key innovation points, technical and economic value. And these projects were finally approved.

After the review, President YUAN gave full affirmation to the projects and put forward higher requirements, and then made new instructions for the following scientific and technological innovation. In her speech, President YUAN further clarified that the Company would continue to increase investment in scientific research and strengthen R&D coordination and resource sharing among various projects. She emphasized that all should uphold a global perspective to make scientific overall planning of structural layout and resource allocation of the projects from a global perspective. She also required that each project team should concentrate on and carry out the project research in an orderly manner, and realize commercialization of the scientific and technological achievements as soon as possible.

Innovation is the primary driving force for development. Huabao will take the next step to strive to build an ecosystem of scientific and technological innovation, give full play to the supporting and driving role of the platform, fully stimulate the vitality of scientific and technical talents, and make great determination to conquer and master core technologies in key areas, firmly grasp the initiative of competition and development, and lead the new direction of industry development.