Changsha, China – June 30, 2020 – Longping Hi-Tech announced today that it has formally signed a cooperation agreement with BASF to jointly develop a new non-GMO rice system for the Chinese market to promote agricultural productivity upgrades.

"This cooperation based on mutual benefit and win-win cooperation will strengthen the leading positions of both parties in their respective fields." said Ma Dehua, vice president of Longping Hi-Tech. "Longping High-tech is a leading hybrid rice breeding company in the world, and BASF has always been driving innovation with innovation. Development, we are very happy to cooperate with BASF, which will further help Chinese rice growers to obtain a good return of increased production and income."

Jonathan Bryant, Vice President, Global Strategic Marketing, Seed and Traits Business, BASF Agricultural Solutions, said, "We are very pleased to join BASF's world-class technology to growers in China. In cooperation with the leading rice breeding company in the Chinese market, we will Further expand BASF's growing seed and trait business."

China is the world's leading rice producer and one of the largest markets for agricultural technology applications worldwide. More and more growers are trying to apply advanced technologies to increase productivity and enhance the sustainability of planting. Wang Xiang, Head of Greater China, BASF Agricultural Solutions, said: "BASF is committed to bringing more innovative technologies to meet the needs of their customized applications for Chinese rice growers. BASF's new agricultural strategy will focus on Asian rice growers. This collaboration is another example of BASF’s implementation of this strategy."

Both BASF Group and Longping Hi-Tech are leaders in investment in the agricultural sector. Every year, the BASF Group invests nearly 900 million euros in agricultural technology research and development, accounting for more than 11% of its total agricultural business income. Longping Hi-Tech's annual R&D investment also accounts for more than 10% of its sales revenue.

"Longping Hi-Tech's mission is to promote the progress of the seed industry and benefit the people of the world." Ma Dehua said, "We have fully utilized the core advantages of R&D and innovation in the past years and brought a large number of high-quality varieties and technical services to rice growers. In the future, Science and technology will continue to promote the development of agriculture, and Longping Hi-Tech will work together with partners to further share resources and jointly develop new technologies in order to better benefit and benefit farmers."