Why is there hex code when I extract SQL from a backup file?

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When you extract the SQL from a backup, it is normal to have hex code within the Insert statement. Navicat is programmed in this way for better performance.

If you would like to have the exact same data in your insert statements extracted, you may use the Data Transfer function. Right click the database name, then select Data Transfer. In the Data Transfer, select File option, specify location and name for the SQL file.