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1 Preamble

With a vision of “maintaining a worldwidesustainablecompetitiveness", RZBC has been dedicated to being the best citric acid manufacturer in the word. It is the important safeguard to realize the vision that everyone of RZBC complies with Legal and Ethical requirements. Based on relative cases and globalization background, with deep discussion, RZBC formed this RZBC Code of Business Conduct (hereafter as “Code”). The Code will help guide us to follow the Laws and Ethics.

Since its founding, RZBC is expressing its basic philosophy to our employees, customers, suppliers, competitors and the community. "Integrity, honesty, diligence, probity, and gratitude" is our moral philosophy. “Customer focus and enhance customer competitiveness" is our business philosophy.  Everyone of RZBC should practice these basic philosophies to gain RZBC’s reputation.

Complying with Code is about more than our Company’s image and reputation and legal issue. It is about sustaining a place where we all are proud to work. For violation, we take “0”tolerance. It will be considered as serious violation of company’s rules and regulations, required strict rectification, until the termination of the employee contact. Those who violate the law will be punished by law. We never allow unethical behavior of a few people or a person damaging company’s reputation.

The global nature of business makes it necessary that the Code should be based on local laws globally. However, the laws, regulations and religious practices are various from one to another. In case any provision of the Code conflicts with mandatory provisions of local law or religious, please subject to the mandatory provisions

The world is constantly changing and new ethical and legal issues continue to emerge. There is not a code absolutely applicable to all situations. The company will promptly amend the Code when necessary. If you have any doubt on the interpretation or application, please contact your supervisor or Code of Business Conduct Office.

Again, RZBC is committed to maintaining the highest standards of integrity and business ethics. The Code is of great significance for the company. Everyone of RZBC should learn, master and observe the requirements. If you find any violation of this Code, please report by the channels provided in this Code. The company will conduct investigation on reported content seriously. Retaliation or threats against whistleblower is strictly prohibited.

2. Requirements

2.1 Requirements to Everyone

As part of RZBC, everyone should ensure that our behavior comply with the Code .So you need to fully understand this code. No matter where you are, please Use good judgment and avoid even the appearance of improper behavior. If you ever in doubt about a course of conduct, please ask yourself:

•Is it consistent with the Code?

•Is it ethical?

•Is it legal?

• Will it reflect well on me and the Company?

• Would I want to read about it in the newspaper?

If the answer is “No” to any of these questions, don’t do it

If you have any questions or concerns about illegal or unethical behavior, you should verify with higher authority, administrative department or Ethics Line. Keep in mind: If the staff doesn't abide by the Standards and law that will lead to disciplinary sanction, Dismiss or terminate the labor relationship, even punished by the law.

2.2 requirements to managers

Managers should at all times model appropriate conduct. As a manager you should:

• Ensure that the people you supervise understand their responsibilities under the Code and other Company policies.

• Promotean openand honesttwo-way communication condition

• Managers must respect and care for each colleague playing an active and leading role.

• Create an environment where employees feel comfortable raising concerns without fear of retaliation.

• Consider conduct in relation to the Code and other Company policies when evaluating employees.

• Never encourage or direct employees to achieve business results at the expense of ethical conduct or compliance with the Code or the law.

• Always act to stop violations of the Code or the law by those you supervise.

• If approached with a question or concern related to the Code, listen carefully and give the employee your complete attention.

• If an employee raises a concern that may require investigation under the Code, report to your leader or Ethics Office and process according to relative procedure.

3. Company’s Responsibilities

3.1 Responsibilities to everyone

Any time, we should treat each other with attitude of integrity, honesty, diligence, probity, gratitude, the so-called "Do unto others, do not impose on others." We respect the individuality. Employment decisions should be based on commercial reasons, such as qualifications, ability and achievement. Complying with national and local labor laws is a must.

3.2 Responsibilities to customers and consumers

To comply with quality process and safety regulations are essential to maintain the product quality and safety. RZBC relies on its honesty and integrity to build long-term relationships with customers. All the marketing and advertising should be accurate and true. Deliberately misleading information, the omission of the important facts or false judgments to the competitors’ product is always unacceptable.

RZBC gets business legally and ethically. Bribery or kickbacks are never acceptable.

3.3 Responsibilities to business partners

Establishing good relationships with other companies provides a competitive advantage to RZBC. But RZBC does not do business with the company or individual who could damage the reputation of RZBC. For example, RZBC won’t do business with the companies who willfully and repeatedly violate the laws including provisions relating to the local environment, employment, safety and anti-corruption. All dealings with third parties must abide by the laws and RZBC policies. RZBC never performs any act which is prohibited by laws or RZBC Code of Business Conduct through third party.

RZBC has the responsibility to communicate these requirements to suppliers, subcontractors, agents and all other partners.

3.4 responsibilities to Society

RZBC commits to providing product and service improving people’s life with reasonable price and actively support the society.

RZBC respect the rights of everyone. Everyone has the freedom of supporting Society, Charity and political organizations or choosing his ideal.

3.5 Responsibility to environment

RZBC pays high attention on environmental protection and complies with environmental laws of the country where business activities conduct. RZBC should operate its business by minimizing the impact on the environment and sustainable use of natural resources of the world.

When hazardous substances were released into environment by improper process or discarded, it should be reported to relative government agent.

3.6 Responsibility to Government

As a responsible organization, Compliance with laws is the obligation of RZBC

4.1 Code of Ethics

4.1.1  Everyone of RZBC, wherever& whenever, should acting with honesty, integrity and probity, and with no compromise. Business ethics and the moral ethics are of no difference. Both should maintain highest ethical standards no matter whatever is the local customs.

4.1.2  Everyone of RZBC should be honest and moral when dealing with colleagues, customers, suppliers and other 3rd parties. Do right thing.

4.1.3 The rights of colleagues, subordinates and third party should be respected.  No matter, what is the age, race, gender, sexual orientation, color, creed, religion, national origin, marital status, disability, discrimination, insults, defamation activities are prohibited.

4.1.4 One should promptly report to the management or Code of Business Conduct office when there may be illegal, dishonest or unethical situation misled or requested by some others. You will not be punished due to report.

4.1.5 Business should be conducted in accordance with the laws and regulations of the country.

4.2 Business and Financial Records

4.2.1 Accurate recordkeeping and reporting reflects on the Company’s reputation and credibility and ensures that the Company meets its legal and regulatory obligations Ensuring accurate and complete business and financial records is everyone’s responsibility, not just a role for accounting and finance personnel.

4.2.2 Ensure the accuracy of all Company business and financial records. These include not only financial accounts, but other records such as quality reports, time records, operation reports, expense reports, interest demand, resume etc.

4.2.3 Always record and classify transactions in the proper accounting period and in the appropriate account and department. Do not delay or accelerate the record. Estimates and accruals must be supported by appropriate documentation. Ensure that all reports to regulatory authorities are full, fair, accurate, timely and understandable.

4.2.4 Never falsify any record or document of RZBC, customers or any other 3rd party. Do not distort the true nature of any transaction. Never enable another person’s efforts to evade taxes or subvert local currency laws. If unintentional errors identified, it shall be immediately reported and corrected rather than covered. If you do not know how to determine the error, please contact your supervisor or Ethics Office.

4.3 Conflicts of interest

4.3.1 Business decisions and actions must be made in best interests of RZBC andnever be motivated by personal considerations or relationships. Relations with potential or current suppliers, contractors, customers, competitors or government must not interfere with your independence and wise judgment.

4.3.2 Everyone of RZBC should not take a second job. It is prohibited to work for competitor, customer or supplier or to take charges from them. Activities outside of RZBC must be strictly separated from RZBC work and should not harm your performance in RZBC. Please make sure no hurt will be done to RZBC when you use the skills and information you gained in RZBC.

4.3.3 Board members should not hold a position in other companies or government before they get the approval of the president of RZBC

4.3.4 No employees can gain personal interest using their jobs or relationships judging against the best interests of RZBC. The possibility of such a conflict should be avoided

4.4 Gifts, Business entertainment and Bribery

4.4.1 The gifts to RZBC employees: RZBC employees should not accept kickbacks, lavish gifts or cash gifts. We can accept items of nominal value, for example, a small marketing product with the company name. We cannot accept any item which would affect the judgment of RZBC. Special situation should be reported to your superiors. All gifts shall be turned over to the company.

4.4.2 The gifts provided by RZBC: Approved by management, some gift in commercial situation is acceptable. But it must be legal and reasonable. The practice of gift-giving is various in different cultures. If it is forbidden by the laws or the policy of the company of the recipient, we will not provide gifts.

4.4.3 As an appreciation to business partner, RZBC can pay for appropriated expense of travel or meals.

But this expense should match the nature of the business relationship of the recipient and comply with the country’s legal costs incurred and customs requirements while meeting the policy, regulations or codes of conduct required of the recipient;

4.4.4 We do not accept any meals provided by business related companies. If the situation requires to attend banquets, it must be approved by your supervisor.

4.4.5 We have business all over the word. When dealing with these businesses, we must strictly comply with local and international anti-bribery law. We never bribe.

4.5 Improper use or theft of RZBC assets

4.5.1 Everyone of RZBC should protect the company’s assets from being lost or being stolen and should not be used for personal benefit. RZBC assets include cash, product, confidential information, software, computer, telephone, duplicating machine, vehicle equipment, and consumptive material and so on.

4.5.2 Everyone of RZBC should prevent RZBC’s assets being misused. When use the electric communication systems, these systems should not be used to access or store: pornography, obscenity, profanity and other same like information; threats or hostile information; Other policy violation or breach information against laws and regulations.

4.6 RZBC, customer and supplier information protection

4.6.1 Everyone of RZBC should protect the information about ,customer and supplier’s confidential or proprietary information including Business models, pricing and market data, strategy, computer passwords, images, tables, experimental study, "existing, past and potential" customers, suppliers and staff information.

4.6.2 When store information, staff should use the appropriate steps - including setting the security documents, setting permissions on a computer or electronic media, or to use appropriate treatment strategies to prevent unauthorized use of this information.

4.7 collecting competitor’s information

4.7.1Collecting competitor’s information is encouraged but to do so only in legal manner. It should not infringe the rights of our competitors.

4.7.2 It is acceptable to collect competitive intelligence through publicly available information such as annual reports, company websites and publications, articles marketing, public speaking and public documents, journals and magazines, and other public media reporting project.

4.7.3 If certain behaviors of competitor or a 3rd party on behalf of competitor are considered improper or unethical to obtain RZBC’ information, then similar behavior should be avoided.

4.8 Fair business

4.8.1 It is prohibited for anyone of RZBC to obtain improper benefit through manipulation, concealment, abuse of privileged information, distorting facts or other unfair way.

4.8.2 RZBC must strictly comply with all faire competition laws applicable and related laws.

4.8.3 RZBC should request all business partners including but not limited suppliers, subcontractors, agents to sign a written commitment to ensure the integrity and fair business. Once violation is identified, RZBC should take immediate measures including the removal of partnership.

4.9 Business Procurement

4.9.1 Procurement decisions must proceed from RZBC's best interests. RZBC awards its business based on the suitability, price, delivery time and quality of its products or services.

4.9.2 Suppliers need to be assessed and approved before tender. No person shall contact suppliers separately and negotiate the contract.

4.9.3 Procurement contract shall be made in writing and clearly to identify the services or products offered, as well as the base on the price and applicable rate. The amount of the goods must be commensurate with the services or products offered.

4.9.4 RZBC’ all employees is prohibited to provide all purchases information to outsides (such as inventory, price, vendor name, etc.).

4.10 Business record maintenance

4.10.1 RZBC need to record and report information honestly and accurately in order to conduct responsible business decisions.

4.10.2 When submitting documents to the relevant regulatory authorities, it must be in timely, accurate and complete manners. Data must be submitted in accordance with the requirements of national accounting principles and other financial statements.

4.10.3 Records must be kept and maintained in accordance with relevant provision and procedure. Records could be destroyed only if it passed the record expiration date. In case of pending litigation, government advisory, waiting under subpoena or other information queries, relative records, regardless of validity, cannot be abandoned or destroyed.

4.10.4 One should never destroy, change or hide any record for any no legitimate reason, or either tries to influent or prevents any formal investigation personally or combined with other people.

5. Waivers

The Code is applicable to all RZBC employee including Board members. Any part of the code cannot be waved unless that Board vote to exempt certain provision and exempt such provision would protect RZBC.

6 Management and Code violation reporting

6.1 To strengthen them management and build smooth complaints reporting channels to ensure that the code achieve practical effect, business conduct management committee, comprised of senior leaders including Group Chairman, Ethics office, Code compliance line/ email was set up. At the same time, Ethics officer was appointed (see attached)

6.2 It is everyone’s obligation to uphold company’s ethics standards. If you observe behavior that concerns you, or that may represent a violation of our Code, raise the issue promptly. Doing so will allow the Company an opportunity to deal with the issue and correct it, ideally before it becomes a violation of law or a risk to health, security or the Company’s reputation.

6.3 Company takes all reports of potential Code violations seriously and is committed to confidentiality and a full investigation of all allegations. Business conduct management committee or Ethics Office is responsible for the investigation organization. Company’s Audit, Finance, Legal, Ethics office personnel may conduct or manage Code investigations.. Employees who are being investigated for a potential Code violation will have an opportunity to be heard prior to any final determination.

6.4 When you have doubts about the conversation with relative management, or your report is not suitable to disclose your identity, you may choose to remain anonymous although you are encouraged to identify yourself to facilitate communication. If you make your identity known, Company will take every reasonable precaution to keep your identity confidential, consistent with conducting a thorough and fair investigation.

6.5 Code violations which related to senior management can be reported to Group Chairman by

6.6 Company will protect any employee who raises a concern honestly, evenconcernsmay not necessarilybe correct but it is a violation of the Code to knowingly make a false accusation, lie to investigators, orinterfere or refuse to cooperate with a Code investigation

6.7 Company takes all reports of potential Code violations seriously. Every employee may be involved in the investigation. If you become involved in a Code investigation, cooperate fully and answer all questions completely and honestly.

6.8 Company will protect employee who raised concern honestly while handling your phone call, message or email. Any retaliation against an employee who raises an issue honestly is a violation of the Code that an employee has raised a concern honestly, or participated in an investigation, cannot be the basis for any adverse employment action, including separation, demotion, suspension, loss of benefits, threats, harassment or discrimination. If you believe someone has retaliated against you, report the matter to Ethics office or even report to Group Chairman.

7. Conclusion

The Code is designed to ensure consistency in how employees conduct themselves within Company, and in their dealings outside of Company. The procedures for handling potential violations of the Code have been developed to ensure consistency in the process across the organization. No set of rules can cover all circumstances. In order to ensure the consistent with local law or contact, RZBC reserve the right to modification, amendment or termination of the Code.

All RZBC employees must sign below as an acknowledgement confirming that they have read the Code of Business Conduct and agree to abide by its provisions. All employees will be required to be trained on a periodic basis to ensure the acknowledgement, understanding andconsolidation. Failure to read the Code or sign the acknowledgement form does not excuse an employee from compliance with the Code


1 .Business Conduct Management Committee

2. Ethics Office

3. Ethics Officer

4. Code violation reporting channels


1.Business Conduct Manamgement Committee:

Director:Kou Guangzhi Group Chairman

Member:An Fengmin, Zhou Feng, Li Chengwei, Jiao Guangming, Gao Xiaotong, Zhang Zhihai, Wei Caixia.

2.Ethics officer: An Fengmin, Li Chengwei

3.Ethics office

Director: An Fengmin

Member: Wei Caixia, Dai Yuhai

4.Code violation reporting channels:

Hotline: +86-0633-2279222


Chairman email:

Mail address:Ethics office,22F/Block A No.66 Lvzhou south road, Rizhao, Shandong (World Yachting Championships Base), China

Ethics officer:

An Fengmin   Tel: +86-13863389557 email:

Li Chengwei   Tel: +86-18263319383 email:

I, the undersigned hereby confirm that I have carefully read and fully aware of the content of RZBC Code of Business conduct and will comply with the Code.


ID Number:


Add: 21F Block A No.66 Lvzhou South Road, Rizhao, Shandong, China
+86-633-8282018    Fax: +86-633-2163500

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