On December 7, 2023, under the snowy backdrop of the lunar calendar, Ningshing Ubay and the esteemed Korean food brand "Nongshim" convened at the Pan Pacific Hotel in Ningbo for a signing ceremony. The occasion marked the signing of a business cooperation agreement, accompanied by the presentation of an authorization certificate.

Chairman Ahn MyunGsik of China Nongshim, together with Mrs. Shi Chenjia, Vice President of Ningshing Holdings and General Manager of Ningshing Ubay, represented both parties in signing the business cooperation agreement. The signing ceremony was attended by Mr. Lee YongJa, Head of the International Business Department at Nongshim Korea, as well as leaders from Nongshim in Korea, Shanghai, Shenyang, and other related companies. Leaders from Ningshing Holdings included Chairman Wu Yigang, Vice Chairman Gao Ping, Executive Vice President and Chairman of Ningshing Ubay Tan Zhengguo, Vice President Yang Xiaojun, along with the management team of Ningshing Ubay and the representative of Ubay Korea, Mr. Bruce Lee.

Nongshim China entered the Chinese market in 1996, establishing its headquarters in Shanghai. In July 1998 and November 2000, factories were set up in Qingdao and Shenyang, respectively. With a focus on producing and operating Shin Ramyun, the company has become a high-quality food enterprise offering a variety of products, including instant noodles, snacks, and mineral water, to the 1.4 billion people in China. Since its initial entry into China, Nongshim has adhered to the philosophy of "bringing the authentic taste of Korea to China," providing high-quality products. Over the years, it has developed into a trusted food company in China.

At the signing ceremony, Chairman Wu Yigang, representing Ningshing Holdings, warmly congratulated the successful execution of the signing ceremony. He expressed confidence that the intelligent and visionary collaboration between the two parties would lead to breakthrough success in the Chinese market.

Chairman Ahn MyunGsik of Nongshim China stated that through the partnership with Ningshing Ubay, they aim to nurture the Nongshim brand into a robust and flourishing entity. He believes that the combined strengths of Nongshim's brand and product capabilities, along with Ubay's distribution power, will create a powerful synergistic effect.

Mrs. Shi Chenjia, Vice President of Ningshing Holdings and General Manager of Ningshing Ubay, conveyed sincere sentiments about the ongoing collaboration. She expressed confidence that both parties, embracing the spirit of "achieving success in every endeavor, just like Nongshim," will continue to work closely. Mrs. Shi hopes that colleagues at Ningshing Ubay will consistently seek improvement and act resolutely, while also urging Nongshim's colleagues to unite with Ubay, fostering a spirit of collaboration.

She envisions both parties adhering to the principles of sincere cooperation and leveraging complementary strengths to make significant contributions towards mutual development. 

Additionally, the leadership team from Nongshim, accompanied by Mr. Wang Wentong, Vice President of Ningshing Holdings and Chairman of Ningshing Shipbuilding in Zhoushan, and Mrs. Shi Chenjia, Vice President of Ningshing Holdings and General Manager of Ningshing Ubay, toured Ningshing Shipbuilding in Zhoushan on the same morning.