On August 18^th, 2016, a signing ceremony of "the Investment Agreement of Huabao Flavours Production Base Project" was held at the headquarters of Huabao Group. SHENG Yan, Deputy Secretary of the Sheyang County Party Committee, Yancheng City, HUANG Qifa, General Manager of Sheyang Costal Investment Co., Ltd., HU Changchun, Deputy Director of the Administrative Committee of Sheyang Harbor Economic Development Zone, DAI Yuqing, Deputy Director of Sheyang Harbor Economic Development Zone, YUAN Xiaoqin and other leaders attended the signing ceremony. HU Changchun, Deputy director and ZHANG Liqin signed the Investment Agreement.

After the signing ceremony, the parties made in-depth exchanges on future cooperation. Ms. YUAN Xiaoqin said that, “Huabao Group and Yancheng Sheyang have forged a strong bond since Huabao Group purchased Yancheng City Chunzhu Aroma Co., Ltd. at then end of last year. Under the guidance of a new strategy, Huabao positioned Yancheng as a crucial strategic base. After starting the construction of fragrant raw material production base, Huabao will continue to carry out construction on flavor production base. The signing of the Agreement marks that the strategic cooperation between Huabao and Sheyang has entered a new and advanced stage”. Ms. SHENG Yan said that, “Sheyang and Sheyang Harbor Economic Development Zone attach great importance to the local investment projects of Huabao and will give full support and assistance to Huabao in personnel, policy, approval and other aspects. Meanwhile, special personnel will be designated to be responsible for matters related to project landing, so as to facilitate the completion and production of the project as soon as possible, thus creating more job opportunities and promoting local economic and social development. Both sides looked forward to deeper cooperation to facilitate common development under the principle of mutual benefit”.