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Lee Kum Kee Receives Funding Approval from Re-industrialisation Funding Scheme

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Set Up a New Oyster Sauce Smart Production Line in Hong Kong which Will Double Production Capacity

HONG KONG, CHINA - Media OutReach - 22 April 2022 - Lee Kum Kee (Hong Kong) Foods Limited announces that it has received the approval of HKD 15 million, which is the maximum level of funding support, under the Re-industrialisation Funding Scheme (RFS) of the Innovation and Technology Commission in Hong Kong. The funding will be used to set up a new Oyster Sauce Smart Production Line in its headquarters at Tai Po InnoPark (formerly known as "Tai Po Industrial Estate"). Ms. Rebecca Pun, the Commissioner for Innovation and Technology and Mr. Indiana Wong, Assistant Commissioner for Innovation and Technology (Funding Schemes), as well as Ms. Katty Lam, Chief Executive Officer (CEO) and Mr. Alan Lui, Chief Financial Officer of Lee Kum Kee International Holdings Limited signed the funding agreement at the signing ceremony on 21 April.

Ms. Rebecca Pun (second left), the Commissioner for Innovation and Technology and Mr. Indiana Wong (first left), Assistant Commissioner for Innovation and Technology (Funding Schemes), as well as Ms. Katty Lam (second right), Chief Executive Officer and Mr. Alan Lui (first right), Chief Financial Officer of Lee Kum Kee International Holdings Limited sign the funding agreement at the signing ceremony.

Ms. Rebecca Pun (second left), the Commissioner for Innovation and Technology and Mr. Indiana Wong (first left), Assistant Commissioner for Innovation and Technology (Funding Schemes), as well as Ms. Katty Lam (second right), Chief Executive Officer and Mr. Alan Lui (first right), Chief Financial Officer of Lee Kum Kee International Holdings Limited sign the funding agreement at the signing ceremony.

The new Oyster Sauce Smart Production Line will commence operation in the first quarter of 2024. The total investment cost will be HKD 46 million, of which HKD 31 million will be invested by Lee Kum Kee. The new fully automated production line will produce 20,000 bottles of oyster sauce per hour, doubling the production capacity of oyster sauce at the Tai Po Plant. In addition, the project will make use of AI technology to monitor the production process and collect production data in real-time, thus enhancing our product traceability and overall operational efficiency.

Ms. Katty Lam, CEO of Lee Kum Kee International Holdings Limited, said, "We are glad to receive funding support for our new Oyster Sauce Smart Production Line project under the RFS. Upholding the spirit of 'Constant Entrepreneurship', Lee Kum Kee is committed to implementing digital upgrade and smart factory transformation, in order to enhance our production efficiency and satisfy consumer needs."

ABOUT LEE KUM KEE

Lee Kum Kee was established in 1888 by its founder Mr. Lee Kum Sheung. With its sustainable development in 134 years, Lee Kum Kee has become a household name of sauces and condiments, as well as an international brand and "a symbol of quality and trust". Spanning over three centuries, Lee Kum Kee is a globally renowned multinational corporation offering over 200 types of sauce and condiments to over 100 countries and regions. Please visit www.LKK.com for further details.

#LeeKumKee

The issuer is solely responsible for the content of this announcement.

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