HANGZHOU, 24 February 2023 – REACH24H is proud to announce the release of its 2022 Annual Report, showcasing a year of achievements and milestones. The REACH24H 2022 Annual Report provides a comprehensive review of REACH24H’s performance over the past year and offers a glimpse into the future trends and compliance points in global markets.

Looking back at 2022, REACH24H has achieved remarkable growth and success in several key areas. Each and every REACH24Her has worked tirelessly to develop innovative products and services that meet the needs of our customers, while also maintaining the highest standards of quality and reliability.

Refine Technical Strengths

One of the standout achievements of the past year was the refinement of our technical strengths:

• REACH24H broke technical barriers and completed the notification for an edible multi-component ingredient under the Cosmetic Supervision and Administration Regulation (CSAR) in China. (*REACH24H Completes Another New Cosmetic Ingredient Notification with its Pioneer Spirit)
• REACH24H successfully achieved a grand slam of registrations for three major pesticide types under U.S. EPA: conventional pesticide, antimicrobial pesticide, and biopesticide.
• REACH24H helped enterprises get U.S. FDA approvals for their new biodegradable materials, successfully breaking the market monopoly.

Expand Industry Influence

Another major accomplishment was the significant expansion of our industry influence:

• REACH24H participated in drafting Seven Efficacy Test Methods for Anti Wrinkle, Firming, Moisturizing, Oil Control, Repairing, Nourishing and Soothing of Cosmetics (T/CAB 0152-2022) in China with other competent corporations and institutions to promote the development of the industry. (*REACH24H Participates in Setting Efficacy Test Standards for China’s Cosmetics Industry)

• REACH24H assists global businesses to enter different markets seamlessly by partnering and working with various governments to overcome technical barriers to trade (TBT).

• REACH24H cooperated with the International Fragrance Association (IFRA) and the Korea Cosmetic Industry Institute (KCII) to help multinational companies build a global cosmetic compliance system. (*REACH24H Co-Hosts a Workshop with IFRA, KCII, and KFFA, Focusing on Fragrance Ingredient Safety Assessments)

Focus on Client Needs

In 2022, REACH24H yielded deep insights into client needs and has constantly improved our products and services. Based on the experience of our competent team, we have launched a one-stop search site for chemical information, a management platform for food ingredients and labeling “COMBOX”, a cosmetic ingredient search tool, and other tools to effectively solve problems and promote streamlined market access for enterprises worldwide. Our technical services have been further upgraded, and our business map is expanding.

Diversify Business Portfolio

Despite the challenges posed by the pandemic, REACH24H has been increasingly diversifying its business portfolio. We have leveraged our pioneering vigor and explored new strategic areas while strengthening technical capabilities at the same time:

• REACH24H Korea cooperated with government officials to help the leading Korean cosmetic companies complete the registration of natural cosmetic ingredients and to bring safer and healthier ingredients to the market.
• Haifan Tech, which operates as a REACH24H subsidiary in the realm of chemical safety, was designated as a co-research institution for promoting opening and innovation in Hainan Free Trade Port.
• BaiPharm, as REACH24H’s subsidiary providing customized compliance services for pharmaceutical companies, achieved substantial growth in its cross-border OTC drug e-commerce operations.

Prioritize Social Responsibility

While carrying forward our development goals, we have always adhered to the tenet that enterprise, society, and employees should go hand-in-hand:

• During the COVID-19 outbreak in China in 2022, REACH24Hers took proactive measures to assist in the community’s prevention and control efforts, demonstrating their commitment to public health and safety.
• We initiated a school sponsorship program in impoverished mountainous regions, leveraging the power of REACH24H to drive social development.
• We prioritized the happiness and well-being of every REACH24Her. We established our first in-house café, RO COFFEE, to serve as their dedicated “cheering station”.

Looking ahead to 2023, REACH24H is fully poised for sustained growth and success. Our firm commitment to making diversification and low carbonization the forefront of our efforts will be key in achieving this goal. With the support of our dedicated employees, loyal customers, and supportive partners, we are confident that the future is bright for REACH24H.

In conclusion, the 2022 Annual Report is a testament to the hard work and dedication of the entire REACH24H team. We invite you to take a closer look at our report to learn more about REACH24H and the many exciting developments we have in store for the future.