Prior to the acquisition of Daqing Bigang, Mr Zhao Libin has accumulated extensive experience in food related industries from as early as 1988. With the high starch content and the characteristics of potato starch, Mr Zhao believes that potato starch can be best used in the food processing industry, and with PRC’s population and growing economy, the demand for high quality potato starch-related products will increase thereby leading to an increase in the demand for potato starch.
| Jan 2001 |
Establishment of Daqing Bigang |
| Feb 2001 |
Acquisition of 95% Daqing Bigang shares by Mr Zhao Libin’s company, Huge Glory. Lindian Bigang retains 5% interest in Daqing Bigang |
| Jun 2001 |
Acquisition of 64,550 sq m of land and production facilities by Daqing Bigang from Lindian Bigang for RMB34 million.
Potato starch production at 10,000 tonnes per annum (t.p.a), potato starch-based products’ production at 3,000 tpa |
| Jan 2002 |
Increase of potato starch production from 10,000 t.p.a to 60,000 t.p.a., with Daqing Bigang’s lease of additional facilities |
| Mar 2002 |
Commenced production of five-grain noodles. China Essence’s R&D department had worked together with the Vegetable Research Centre of Beijing’s Forestry and Science Institute (北京市林业科学院蔬菜研究中心)to produce this flagship product |
| Jun 2002 |
Commenced production of vermicelli |
| Jul 2003 |
Completion of production facilities’ expansion, resulting in an increase of potato starch-based products (i.e. vermicelli, starch strips, five-grain noodles) from 3,000 t.p.a to 22,000 t.p.a |
| Jul 2004 |
Acquisition of production facilities for potato starch and land use rights at a consideration of approximately RMB59.6 million. These were originally leased from Lindian Bigang |
| Sep 2004 |
Conferment of "Provincial Dragon Head Enterprise" status by the Agricultural Commercialisation Leading Group of Heilongjiang province (黑龙江省农业产业化领导小组) Awarded ISO9001:2000 certification by Beijing Sanxing 9000 Quality Certification Body (北京三星九千质量认证中心) |
| Aug 2005 |
Completion of research on modified starch |
| Sep 2005 |
Commenced sale of modified starch |
| Feb 2006 |
Listing on the Mainboard of Singapore Exchange |
| Oct 2006 |
Expansion of potato starch production capacity from 60,000 t.p.a to 100,000 t.p.a
Establishment of modified starch production plant with annual capacity of 18,000 tonnes |
| Nov 2006 |
Issuance of HK$250 million convertible bonds |
| Sep 2007 |
Expansion of potato starch production capacity from 100,000 t.p.a to 180,000 t.p.a. |
Our Company was incorporated in the Cayman Islands under the Cayman Companies Law as an exempted company with limited liability. The origins of our business trace back to March 2001 when Mr Zhao Libin, our Chairman and CEO, acquired Daqing Bigang in Daqing, Heilongjiang, PRC to engage principally in the business of the production and sale of potato starch and potato starch-based products.