IBI and RIC Group Sign Strategic Cooperation Agreement to Advance China–Pakistan Industrial Collaboration

From March 30 to 31, IBI (603613.SH) and RIC Group held talks in Beijing and officially signed a strategic cooperation agreement. The signing ceremony was attended by Mr. Rana Iqbal, Member of the Provincial Assembly of Punjab, Pakistan; Mr. Rana Bilal Iqbal, Director of RIC Group; Ms. Liu Zhai, Senior Vice President of IBI and CEO of Toodudu; Ms. Yin Haifeng, Vice President of IBI and CEO of Feidoodoo; and Mr. Qadir, General Manager of IBI’s Cross-border Strategic Planning Department. The two sides conducted in-depth exchanges on cooperation across sectors including agriculture, chemicals, and new energy.

Founded in 1995, RIC Group is a leading diversified enterprise in Pakistan, with businesses spanning agriculture, fertilizers, mining, food processing, technology solutions, and international trade. Its subsidiaries include Niha USA, IFRA FOOD, RIC Farm, and RIC Mining.

In the fertilizer sector, RIC operates a distribution network of over 5,000 dealers, with storage capacity exceeding 100,000 tons and annual sales surpassing 200,000 tons. The group reports annual revenues of over PKR 25 billion and operates a 250-acre research farm, supporting the demonstration and promotion of agricultural technologies. In food processing, IFRA FOOD is equipped with advanced freeze-drying and dehydration production lines for spices, vegetables, and fruits. In mining, RIC Mining has deployed high-purity silica resources in Balochistan, targeting applications in industrial silicon, polysilicon, semiconductors, and solar energy.

Rana Bilal Iqbal stated that RIC Group’s well-established fertilizer distribution network, strong agricultural foundation, and extensive local operational experience position it well for collaboration. He noted that the partnership with IBI will combine RIC’s local channel advantages with IBI’s platform capabilities, supply chain integration, and digital technologies, aiming to establish a benchmark for China–Pakistan industrial cooperation.

Liu Zhai stated that IBI, as a leading B2B e-commerce and industrial internet platform in China, is committed to providing online trading, business information services, and digital technology solutions. Its Duoduo platforms cover multiple industrial sectors, including bulk chemicals, agriculture, light industry, new materials, and new energy, forming strong synergies with RIC Group’s industrial layout. He expressed the expectation to leverage platform synergies, supply chain resources, and cross-border service capabilities to deepen cooperation in fertilizers, new energy, regional headquarters development, and China–Pakistan industrial trade platforms, building a long-term, stable, and mutually beneficial partnership.

Yin Haifeng noted that Feidoodoo, as IBI’s core subsidiary focusing on the agricultural sector, has developed a mature digital supply chain service system in the fertilizer industry. With the establishment of this long-term strategic partnership, both sides will strengthen collaboration in the fertilizer sector and use the IBI South Punjab Headquarters as a regional anchor to jointly build a China–Pakistan industrial collaboration platform, achieving resource sharing, complementary advantages, and sustainable win-win development.

Both sides expressed their commitment to leveraging their respective strengths and taking this agreement as a new starting point to advance practical cooperation and contribute to the deep integration of industrial chains between China and Pakistan.

Representatives from IBI also attended the meeting, including Mr. Wei Lifeng, General Manager of the Cross-border Technology Center; Mr. Liu Zhiyuan, Vice President of Feidoodoo and Head of Indonesia Operations Center; and Ms. Wang Shuyan, Manager of Cross-border Risk Control at Toodudu.