CHINA

Known as "Chia Tai" (正大) in China, the Group was one of the first foreign enterprises to enter into and operate in China since it first opened its door to foreign investment in the late 1970s. Today, the Group has become one of the leading agri-food players in China. With an operating history of over 40 years, the "Chai Tai" name is well known in the market place.

In 2020, the Group completed an important transaction in China, marking our strategic move to create a leading integrated swine business in China. The Group merged its China feed and swine food businesses under Chia Tai Investment Co. Ltd. ("CTI"), originally a subsidiary of the Group, with Charoen Pokphand Group's ("CP Group") swine business in China. Upon completion of the 2020 China swine transaction on 1 December 2020, the Group's main business in China includes (i) poultry farming and value-added processed food businesses operate by its subsidiaries, and (ii) feed and integrated swine businesses operate by its associate CTI (and its subsidiaries).

CTI, our associate, prides itself in providing top-quality animal feeds to farmers. As part of the Charoen Pokphand Group ("CP Group"), CTI has proprietary access to CP Group's animal nutrition expertise accumulated from decades of experience. Along with CTI's stringent end-to-end quality assurance system, CTI produces a wide range of high quality animal feeds in China for livestock as well as aquatic animals. We have a national footprint, operating in almost every province.

Aspiring to become "The Kitchen of the World", the Group continues to develop its downstream business. The Group has an integrated poultry business and operates a number of value-added processed food factories. Our range of safe and nutritious products extend from packaged meat, marinated meat to ready-to-eat products, and primarily sell into the domestic market.

CTI, our associate, through the 2020 feed and farm merger, became one of the leading integrated swine players in China. CTI has thousands of swine farms nationwide and a number of swine food processing factories.