The meeting

On Feb 20, Huabao Group held 2020 work meeting at its Jiading headquaters.  
Chu Lam Yiu, Chairlady of the Board and CEO of Huabao Group, Xia Liqun, President of Huabao Group and Chairman of the Board of Huabao Flavors & Fragrances, Huabao group executives, HQ department heads, BU heads and other leaders attended the meeting. ~3000 Huabao employees joined the meeting online.

Chu Lam Yiu, Chairlady of the Board and CEO of Huabao Group

Xia Liqun, Huabao Group President and Board Chairman of Huabao Flavors & Fragrances

At the beginning of the meeting, President Xia Liqun delivered 2020 Group President Work Report, with the theme: “striving to achieve 3-year strategy target through strengthening foundation, improving functions and overcoming weakness”. 
President Xia did a comprehensive 2020 work review in terms of group strategy, strategic initiatives and group control and offered interpretation and plans about key work in 2021: HQ function improvement, corporate culture building, digitalization, asset securitization and global business footprints.

The meeting

President Xia said 2021 is the most important year for Huabao group because fast development in 2022 and 2023 depends on the success of 2021.
BUs need to identify priorities based on the overall requirement of the group and make overall and effective measures based on three principles: “striving to achieve 3-year strategy target through strengthening foundation, improving functions and overcoming weakness”. Despite uncertainties such as the global pandemic, we can hit the 2021 target through effective strategy execution, confidence and concerted efforts.

Group VP Zhao Dexu presides over the meeting

At the meeting, winners of “ 2020 Huabao Award”(individuals and units) were given commendation and certificates to show recognition for their work and to create an environment where everyone can learn from these model employees and compete to become a model employee.

Executives have photos taken together with award winners

Award winners made acceptance speeches. They thanked Huabao for providing them with a great platform for development and during this process they also witnessed Huabao’s rise to become an industry leader that flavors your life.
President Xia Liqun signed  2021 target responsibility documents with representatives from BUs and subsidiaries online and offline for sustainable, fast and quality development.

2021 target responsibility documents signing

Target responsibility documents represent a solemn commitment and mission to reach Huabao development target. In signing the documents, related representatives said they will follow the group’s policies and rules, gain a thorough understanding of the overall strategy of the group to align their work with the strategy and work hard to exceed the target.

BU representative speaks

Chu Lam Yiu, Chairlady of the Board and CEO of Huabao Group, spoke at the end of the meeting.

Chairlady Chu speaks

Chairlady Chu said that remaining true to the original aspiration and meeting difficulties head on, people at Huabao did good work over the past year by leveraging corporate culture and strategy, making steady progress.
Chairlady Chu then shared her thought on Next Generation Product(NGP) with the management team.
Chairlady Chu emphasized that NGP represents next generation business model and products and that NGP is around us and changing.
The lesson from Huabao’s success over the past three decades is that we were able to adopt the right business model and update products in a timely way in each stage. 
With tech and policy changes, Huabao needs to keep pace with the times by undertaking the right strategic initiatives to ensure long-term development. In the latest NGP revolution, Huabao needs to forge ahead with determination and seize opportunities to reap dividends in new model, new product and new technology.