沃特股份沃特股份
Address: Room 3101, Block B, Building 9, Zone C, Phase III of Vanke Yuncheng,Liuxin 4th Road, Xili Community, Xili Sub-district, Nanshan District, Shenzhen City(Room 3101, Block B, Building 7, International Innovation Valley)Postal code: 518051Tel.: 0755 2688 0866Fax: 0755 2688 0966Website: www.wotlon.com
Shenzhen WOTE Advanced Materials Co.,Ltd
ENVIRONMENTAL,SOCIAL AND GOVERNANCE(ESG) REPORT 2023SHAPINGBETTER LIFE
This is the second Environmental, Social, and Governance (ESG) Report released by Shenzhen WOTE Advanced MaterialsCo., Ltd., holistically presenting the Company’s principles, concepts, management approaches and achievementperformance in sustainable development.
Overview
As an annual report, the Report covers the period from January 1, 2023, to December 31, 2023 (“the Reporting Period”)and may include some content pertaining to previous years or extend its scope into 2024. Unless otherwise stated, thescope of the Report aligns with the Company’s annual report, encompassing Shenzhen WOTE Advanced Materials Co.,Ltd. and its consolidated subsidiaries.
Scope of the Report
The Report has been prepared based on the relevant guidelines for social responsibility report issued by Shenzhen StockExchange (SZSE) and the GRI Sustainable Development Report Standards issued by the Global Sustainability StandardsBoard (GSSB). Additionally, the Report incorporates certain recommendations from the ISO 26000 Guidance on SocialResponsibility.
Basis of Preparation
The data, management mechanisms, and cases presented in the Report are derived from the Company’s actualoperational records or financial reports. Financial data in the Report is presented in RMB. In cases where financial datadiffers from the Company’s annual financial report, the Report takes precedence.
Data Description
For ease of reading, throughout the Report, “Shenzhen WOTE Advanced Materials Co., Ltd.” is also referred to as “WOTE”,“the Company”, “our company”, or “we”.“Conceptfe”refers to “Zhejiang Conceptfe New Material Technology Co., Ltd. ”, “WOTE Huaben” refers to “Shanghai WOTEHuaben Semiconductor Technology Co., Ltd.”, “WOTE Zhicheng” refers to “Chongqing WOTE Zhicheng New MaterialTechnology Co., Ltd.”, “Huizhou WOTE” refers to “Huizhou WOTE Advanced Materials Co., Ltd.”, “WOTE Special Material”refers to “Jiangsu WOTE Special Material Manufacturing Co., Ltd.”, and “Jiangsu WOTE” refers to “Jiangsu WOTEAdvanced Materials Technology Co., Ltd.”
Appellation Description
Company NameShenzhen WOTE Advanced Materials Co., Ltd.Acronym ofCompany name
WOTE
Stock Code002886.SZ
Head OfficeShenzhen City, Guangdong Province, China
WOTE commits that the contents of the Report do not contain any false records, misleading statements, or materialomissions. The Board of Directors of the Company assumes individual and joint responsibility for the truthfulness,accuracy, and completeness of the Report.
Reliability Commitment
This report is available in both printed and electronic formats. Printed copies are available at the Company’s securitiesdepartment.The electronic version can be accessed on the Juchao Information website (www.cninfo.com.cn).
Report Access
WOTE encourages all stakeholders to provide suggestions or feedback on the Company’s sustainable development andsocial responsibility management.For any related matters, please contact stock@wotlon.com.
Contact Information
About the Report
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
With the dream of “shaping better life”, WOTE has always been at the forefront of exploring solutions to social, industry, and customer issues. Guidedby the principles of sustainable development, we have gained a clearer understanding of our path forward. Our approach is anchored in the ESGframework, focusing on fulfilling our foundational responsibilities in environmental stewardship and governance. Building upon these pillars, weactively seek partnerships to achieve greater accomplishments and strive to contribute our strength in addressing customer needs, industrychallenges, and societal issues. Based on this, we have identified four areas of sustainable development, including boosting industry development,protecting lucid waters and lush mountains, building a happy home together, and creating long-term value. In terms of specific topics, wellconsidering various requirements and demands from laws and regulations, regulatory policies, customer expectations, and stakeholders’ demand,we have strengthened our management and practices from policy guidelines, organisational structure, system requirements, process, and culture.Furthermore, WOTE always maintains the pursuit of excellence, continuous improvement, and dedication to maximising the effectiveness of eachtopic, making our ESG practices align with our vision to be a leading Chinese advanced materials company. In the past year, WOTE has achieved“four focuses, four breakthroughs” in ESG practices, further enhancing our sustainable development capabilities and giving us more confidence inthe sustainable development.
We focus on the positioning of material suppliers and material solution providers to address social and industrychallenges, expand product lines and capacity, and meet the demand for more high performance materials. Witha focus on solving customer problems, we aim to become a “specialty high polymer materials platform”. Througha well-established innovation R&D system and investment in R&D, we have developed more advanced materialsand material solutions that align with societal orientations and customer demands . Our innovation capabilitieshave been recognised: during the reporting period, Jiangsu WOTE, WOTE Special Material, Conceptfe, and WOTEZhicheng obtained high-tech enterprise certifications, and WOTE Special Material was successfully selected asthe national-level specialised and new “key little giant” enterprise. We hold fast to quality excellence, graduallystrengthen the control measures, maintain good communication with customers, and value customer experienceat every step of the service, which have not only achieved high customer satisfaction but also received awardssuch as “Well-known Brand in Shenzhen”.In the pursuit of growth, environment is a key concern for us. The Company strictly controls the environmentalimpact at all production bases according to the highest standard, and establishes an environmental managementsystem. We implement target management by conducting comprehensive assessments, defining overallobjectives, decomposing objectives, and developing clear implementation measures to maximise energy andwater resource efficiency while minimizing environmental impact.We believe that excellent talents make outstanding companies. With a mature and sound talent developmentsystem, standardised and all-round equity and promotion protection mechanisms, we keep attracting anddeveloping talents. We work hard to strengthen cultural promotion and strive to build a highly capable team thatsupports the achievement of the Company’s strategic goals. Besides, we promote the progress of employeesthrough corporate development and drive the development of the Company through the progress of ouremployees. During the reporting period, we conducted activities such as “Founder’s Office’ and “GM Workshop”,along with job-specific professional knowledge training. Additionally, we introduced the innovative HerrmannBrain Dominance Instrument (HBDI) for the whole-brain preference assessment, further deepening and refiningour efforts in talent development and cultivation. Multiple branches of the Company promoted several managerialand supervisor-level partners, as well as six supervisor-level management partners. Moreover, we actively engagein social welfare, providing tuition support to underprivileged students through a public welfare foundation. Weconnect with more charitable organisations, leveraging our professional expertise for the well-being ofdisadvantaged groups.Regulatory compliance is the cornerstone for our sustainable development. We focus on corporate governance,business ethics, compliance operations, and information security. We strictly adhere to relevant laws andregulations, establish comprehensive control mechanisms horizontally and vertically, strengthen employeetraining and awareness, and ensure compliance in all four aspects through system constraints, culturaldevelopment, and regulatory controls, to safeguard the interests of stakeholders. During the reporting period, theCompany did not experience any litigation related to corruption or unfair competition. Furthermore, we performedexcellently in information disclosure, corporate governance mechanism building, and supervision training,obtaining an A-level rating in the evaluation of information disclosure work by SZSE for two consecutive yearsand receiving the honor of “Best Practice of Office of Board of Directors for Public Companies in 2023” awardedby China Association for Public Companies.As we step into 2024, we will continue to uphold our core values of “be unique for you”, transforming competitive pressures into opportunities forgrowth. Meanwhile, we will overcome challenges, push our boundaries, and consistently contribute our value to customers, our nation, and society.
Wu Xian
Chairwoman ofShenzhen WOTE Advanced Materials Co., Ltd.
Message from Chairwoman
Focus on the core businessto continuously strengthencustomer service capabilities
Focus on the environment toachieve an upgrade ingreen development
Focus on excellence tocomprehensively enhanceemployee capabilities
Focus on compliance toconsolidate the ability formoving forward steadily
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
About the ReportMessage from ChairwomanCompany OverviewSustainable Development Management
Contents
Report Indicator Index
WOTE leads innovation,boosting industry development
WOTE is taking actions toprotect lucid waters andlush mountains
Strengthening Environmental ManagementEnhancing Resource EfficiencyEnvironmental Pollution Control
Strengthening Corporate GovernanceCompliance ManagementCommitment to Business EthicsInformation Security Assurance
Meeting Basic NeedsEnabling Value RealizationEnsuring Occupational SafetyActive Participation in Social Welfare
WOTE cares about people,building a happy homelandtogether
WOTE is committed tobuilding a strong foundationand creating long-term value
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Company Profile
Corporate Culture
Corporate Honors
Membership of Social Organization
Deepening Industrial AdvantagesContinuous Technological InnovationEnsuring Product QualityProviding High-quality ServicePromoting Industry DevelopmentSustainable Development ManagementStrategyGovernance Structure for SustainableDevelopment
Stakeholder Engagement
Material Topics Analysis
Feedback Form
Shenzhen WOTE Advanced Materials Co., Ltd., a leading supplier and innovator of material solutions in China, specializes in polymerizing andmodifying high-performance functional polymer materials, as well as the R&D, production, sales, and technical support of finished products. With afocus on delivering optimised advanced material solutions and value-added services, we strive to meet the needs of our customers. Our mainproducts include specialty and innovative engineering polymers, high-performance composite materials, carbon fibre, carbon nanotube composites,and fluorinated polymer materials. These products have found widespread application in diverse downstream industries, including communication,5G, photovoltaics, new energy vehicles, and medical health, thereby enhancing people’s lives.Headquartered in Shenzhen, WOTE sets up subsidiaries across South China, East China, and Southwest China, as well as in Hong Kong.Furthermore, the Company has invested in manufacturing factories in Vietnam. With a comprehensive network of bases spanning the entireindustrial chain, WOTE strives to provide customers with optimal polymer material solutions. Our goal is to enhance and complement upstream anddownstream supply chains, thereby contributing to the autonomy and high-quality development of China’s supply chain.
Company Profile
Vietnam Base (Haiphong City)
Meet the personalised order needs of overseas customers
Chongqing Base
Special polymer materialpolymerization baseSpecial polymer film manufacturing base
WOTE Huaben (Shanghai Huarka)Manufacturing base for finishedproducts made of semiconductors
and fluororesin materials
East China Base (Dongtai City, Jiangsu Province)Manufacturing base for 5G, electronic communication,photovoltaics, and automotive material modificationLCP polymerization base
Conceptfe (Huzhou City,Zhejiang Province)Manufacturing base forhigh-performance material productHong Kong WOTEInternational cutting-edge technology,high-end talent alignment and market development, international trade
ShenzhenHeadquarters
South China Base (Huizhou City,
Guangdong Province)
Manufacturing base for drones materials,smart home technology materials,consumer electronics materials,and OA material modification
Industrial Distribution
Corporate Culture
VisionMissionValuePolicy
Integrity, Recruitment,
Innovation, BeyondBe Unique for YouShaping better lifeLeading Supplier
Partner Culture
Appreciation, Understanding, ToleranceWOTE regards employees,shareholders, suppliers, customersas partner with the belief that weshould work together to createbetter future.
Partner’s DefinitionPrinciple of PartnershipPartner Ecology
Company Overview
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EastChina Region
SouthChina RegionSouthwestChina RegionOverseas
Honesty and self-discipline, Highefficiency, Mutual achievement andmission will be achieved.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Corporate Honors
Corporate Honors“One-Stop” Demonstration Participant Unit of High-SpeedConnector Issued by the Ministry of Industry and Information
Top 7 of China’s Material Companies in Terms of InnovationNational-level Specialised and New “Key Little Giant” Enterprise100 Most Potential Brand Enterprises in ChinaFamous Brand Products in Guangdong Province
Chairwoman-Ms. Wu Xian’s Personal Honors
March 8th Red Flag Bearer in Guangdong Province
China Outstanding Women Entrepreneur
Top 10 Outstanding Women Entrepreneurs in Shenzhen
Most Influential Women Entrepreneur in Shenzhen-SGCC
Cottonwood Meritorious Service Award
Exemplary Female Industry Leader in Shenzhen
Top Hundred Innovative Strivers in the New EraProminent Figure in Shenzhen Business CommunityPioneer of the First Guangdong-Hong Kong-Macao GreaterBay Area Strategic Emerging IndustriesTop 100 Industry Leaders in ShenzhenCity of Quality Excellence in Shenzhen Gold Award
Person of the Year in the Polymer IndustryMeritorious Service Award in the Polymer Industry
National Outstanding EntrepreneurOutstanding Builder of Chinese Socialism with Distinctive Characteristics in Guangdong Province for Non-Public Economic Personnel
Women Entrepreneurs Chamber of Commerce ofAll-China Federation of Industry and CommerceChina Synthetic Resin Association Special Engineering PlasticsSub-AssociationChina Synthetic Resin AssociationGuangdong-Hong Kong-Macao Greater Bay Area StrategicEmerging Industries Development Promotion Association
CPPCC Shenzhen CommitteeShenzhen Industry Leader Corporate DevelopmentPromotion AssociationShenzhen Polymer Industry AssociationShenZhen Non-Governmental Organisation FederationShenzhen Women Entrepreneurs Association
Shenzhen Advisory and Supervisory Committee onBusiness Environment Optimization
Membership of Social Organization
Top 10 Enterprises of Special Polymer Materials Industry in ChinaOutstanding Enterprise in the National Innovation andEntrepreneurship Competition
Excellent Brand Enterprise of Fluoroplastic Industry in China
Special Advanced "Little Giant" enterprise in Guangdong ProvinceTop 100 Manufacturing Enterprises in Guangdong Province
Enterprise of Observing Contract and Value Credit in Guangdong
Province
Hidden Champion of Zhejiang ProvinceTop 50 Leading Enterprises in Strategic Emerging Industries inGuangdong-Hong Kong-Macao Greater Bay
Ecological Co-build Flashing Institution in ShenzhenShenzhen Top 100 Quality EnterprisesShenzhen Well-known BrandTop 70 Innovative Enterprises in ShenzhenTop 100 Shenzhen Industry LeadersShenzhen Top 500 EnterprisesInvestor Relations Gold Award “IR Initiative Award”“Excellent Practice of Office of Board of Directors for Public Companiesin 2022” Awarded by China Association for Public Companies
Top 100 Most Popular Listed Companies by Tonghuashun“2023 Most Socially Responsible (ESG) Listed Companies” Awarded by Capital Week“Best Practice of Office of Board of Directors for Public Companies in 2023” Awarded by China Association for Public Companies
Social Organization Joined by Ms. Wu XianTitle
Shenzhen Strategic Emerging Industries DevelopmentPromotion AssociationGuangdong Federation of Industry & CommerceShenzhen Federation of Industry & CommerceThe Committee on Proposals of CPPCC Shenzhen Committee
Alliance of Shenshang Advanced Material IndustryShenzhen Women and Children’s Development FoundationWOTE Charity FoundationWomen Innovation Entrepreneurship Foundation
Executive PresidentPresidentVice President
Committee Member
Lifetime Honorary President, Chief AdvisorExecutive Vice PresidentHonorary President
Member of the Standing CommitteeVice ChairwomanDeputy Director
ChairwomanDirector of the Management CommitteeChairwoman of the Management Committee
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PresidentPresident
President
Executive Chairwoman
Committee Member
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Sustainable DevelopmentManagement Strategy
To effectively implement the ESG work, we have established a sustainable development governance structure, consisting of the Board of Directors,an ESG working group, various departments, and subsidiaries, to ensure the systematic advancement of ESG initiatives, including informationdisclosure and communication.
Governance Structurefor Sustainable Development
SustainableDevelopment Management
WOTE integrates the concept of sustainable development into its corporate strategy, aiming to “shape better life”. We haveestablished a robust governance framework that is centered on a “four-in-one” management strategy. We maintain continuousengagement with stakeholders and conduct thorough analysis of material topics to elevate our sustainable development efforts. Bycollaborating with our stakeholders, we are committed to creating a better life.
Our sustainable development philosophy is centered on the commitment to “shaping better life”. We embrace ESG practices that revolve on four keyareas: boosting industrial development, protecting lucid waters and lush mountains, fostering community well-being, and generating long-term value.Each year, we conduct in-depth research on both internal and external environmental shifts, dynamically updating the specific topics pertaining tothese four domains. This approach ensures effective management of diverse ESG risks and opportunities, propelling us towards sustainabledevelopment.
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The Board of Directors
The Board of Directors is responsible for overseeing and making decisions related to the Company’s sustainable development. The boardreceives regular reports from the ESG working group, reviews internal documents including ESG reports, major topics, key plans,systems, etc., reviews and approves significant ESG topics to ensure alignment between the concept of sustainable development and theCompany’s business philosophy.
ESG Working Group
The ESG working group, headed by the Board Office of the Company, collaborates with department heads and subsidiary leaders todefine the Company’s ESG work, break down objectives, and assign responsibilities, as well as review ESG report to ensure the accuracyof disclosures.
Departments, and Subsidiaries
Taking into account the ESG work undertaken by departments and subsidiaries, we align them with the Company’s overarching principlesto establish management objectives and action plans, ensuring the successful implementation and tangible results of various ESGtopics. We systematically gather and organise data on ESG work and their outcomes, which is then reported to the ESG working groupfor information disclosure.
We continuously improve the level of corporategovernance, comply with various laws andregulations and business ethics standards, establishlong-term relationships of mutual trust and mutualbenefit with all stakeholders, to create lasting value.
Creating Long-Term Value
We value employees’ basic demands, respect andprotect their fundamental rights, build a careerplatform with broad prospects, provide ample warmthand care, striving to become a happy home foremployees.
Building A Happy Home Together
With the goal of becoming a leading “specialisedpolymer materials platform” in the industry, weconstantly advance in key core technologies, andactively undertake major scientific and technologicalprojects to contribute to the high-quality developmentof the industry.
Boosting Industry Development
We implement the national green developmentstrategy, promote green and low-carbontransformation, popularise green products andservices, save energy and reduce emissions, toprotect the lucid waters and lush mountains withpractical actions.
Protecting Lucid Waters and Lush Mountains
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Stakeholder EngagementWe actively engage and collaborate with our stakeholders, maintaining diverse communication channels and methods. We are committed tounderstanding and promptly addressing their concerns and expectations. This engagement provides us with a crucial reference in identifyingsustainable development opportunities, enhancing our sustainability capabilities, and improving the quality of our information disclosure.
Communication via phone and emailInformation disclosureAccepting interviewsPositive interactionsTransparent communication
Communication via phone and emailInformation disclosureActively engage in public welfare activitiesSupport harmonious community development
Supplier communicationSupplier assessment and auditSupplier qualification investigationIntegrity in business operationsFairness and justiceWin-win and mutual development
Proposal mechanismAll-hands meetings, department meetings,cross-department meetingsInternal email systemCompany Lark group
Work-life balanceSafe and comfortable working environmentCareer development and advancementCompensation and benefits
Communication via phone and emailInvestor communication activitiesGeneral MeetingRegular/ad-hoc information disclosureOpen and transparent InformationInvestment returnsPrudent operationEnvironmental protection
Participate in relevant meetingsAd-hoc reportingRegular disclosureAccept supervision
Drive regional economic developmentCreate employment opportunitiesRespond to national development strategiesComply with the laws and regulations
Customer communication and visitsCustomer complaint channelCustomer Manager full process serviceStable supplyProduct qualityR&D innovation
Management of environmental and social issues
Communication ChannelConcerns and ExpectationsKey Stakeholders
Shareholders
Government
MediaCommunity
Employees
Suppliers
Customers
Material Topics AnalysisWe integrate ESG principles into our development strategy and business operations. Through rigorous research on domestic and internationalmacro-environmental trends and policies, benchmarking against leading ESG disclosure frameworks, standards, and evaluation systems, anddrawing insights from best practices, we have identified 20 key topics. We conducted questionnaires targeting eight diverse categories of internaland external stakeholders, zeroing in on these 20 topics. Based on these findings, we identified 11 highly important topics, 8 moderately importanttopics and 1 topic of general importance, thus shaping a matrix for material topics.
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ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Domestic and internationalmacro-environmental trends andpolicy developmentsMainstream ESG disclosure frameworks,standards, and evaluation systemsBest practices in ESG implementation bypeer companies in the industryStakeholder demands and expectationsCompany strategy
Conduct surveys targeting shareholdersand investors, management, employees,government and regulatory authorities,customers, suppliers, community, public,and media
11 highly important topics8 moderately important topics1 generally important topic
Analysis of Survey ResultsSurveyCreation of Material Topics Database
Importance to stakeholders
Public Welfare or Charity
Employee Training and Development
Employee Welfare and Care
Supply Chain ManagementResponsible Procurement
Protection of EmployeeRights and Interests
Occupational Health and Safety
Water ResourceManagementCarbon Emission Reduction
Information Disclosure
Business Ethics
EnvironmentalManagement
Product Quality and SafetyChemical Safety
Compliance Operations
Research andDevelopmentEnergy ManagementData Security and Privacy ProtectionPollution Control(Waste Management)
Importance to WOTE
Corporate Governance
WOTE leads innovation,boosting industry development
Committed to our core value of “being unique for you”, WOTE considers it our duty to address customers’ challengesand pain points while delivering valuable products to the industry chain. With a focus on our core business, WOTEconsistently invests in R&D to foster innovation, enhances product quality, and optimizes customer service.Additionally, WOTE actively contributes to the industry’s growth, particularly in advancing the high-qualitydevelopment of strategic emerging industries, represented by new materials.
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ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT 2023
Key PerformanceWOTE is steadfastly dedicated to high-quality development and has implemented a platform strategy for special polymer materials. The platform isconstantly being enhanced, with an ever-growing proportion of special polymer materials, meeting the diverse needs of customers.Through theseendeavors, we consistently provide material solutions that contribute to “shaping better life”.
Deepening Industrial Advantages
WOTE consistently focuses on high value-added material products and the expansion of our industrial chain layout. Wegradually enhance and broaden our platform to cover the entire industrial chain, encompassing the polymerization andmodification of polymer materials, as well as the production of finished goods. By strengthening our capabilities inbuilding the platform for special polymer materials, we aspire to become a world-class provider of material solutions.During the reporting period, WOTE has completed the construction and installation of factory buildings, supportingfacilities, and the initial production line for our 20,000-ton LCP resin material project. This will effectively fulfill the diversehigh-end demands of our customers, and provide critical raw material support and material solution design for variousindustries, including high-frequency and high-speed communications, consumer electronics, automotive electronics,electrical automation, and drones. Meanwhile, we have been vigorously pursuing the second phase of our 5,000tons/year high-performance polyphthalamide (PPA) resin and composite materials project. Upon completion, thecapacity is expected to significantly meet our customer demands. Furthermore, by leveraging domestic fluorine materialresources and integrating them with our existing businesses, WOTE ensures a reliable and independent supply chain ofhigh-end fluorine materials for our clients. The 45,000-ton special polymer materials construction project is alsoprogressing actively. Once completed, it will seamlessly align with our current high-performance functional polymermaterial system, enabling the strategic deployment of our specialty polymer material industry platform.
Providing First-Class Material Solutions
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Platform Layout for the Entire Industrial Chain
Through diverse material processing technologies, the Company provides downstream customers with high/lowdielectric performance, antistatic, shielding, lightweight, thin-walled, high-strength, high-toughness, conductive,insulating, flame-retardant, thermal-conductive, and magnetic-conductive material products. Additionally, we offercorresponding analog testing and customized processing technology services.The Company consistently expands its manufacturing capabilities downstream through platform construction,enabling breakthroughs in technological processes such as high-purity PTFE equipment for semiconductor devicesand PTFE insulator products for communications. We have established multiple profile processing platforms forspecial polymer materials, facilitating large-scale production and sales. Moreover, by incorporating advancedequipment like planer milling machines and a five-axis turn-milling compound machining center, we further enhanceour processing capabilities for high-performance materials, striving to deliver one-stop all-round solutions of specialpolymer materials for our customers.Our products, such as LCP and PTFE film products, PPS modified productsand PAEK terminal products,etc., have been recognized and used by downstream customers.
The Company has achieved an industrial polymerization layout of special engineering materials such as LCP, PPA,polysulfone, and PAEK.
Downstream
of theIndustrial Chain
Midstream
of theIndustrial Chain
Upstream
of theIndustrial Chain
The Company actively contributes to the clean transition by continuously advancing R&D, production, and application ofproducts and solutions in areas such as lightweight and environmentally friendly structural components for automotivebodies, new energy vehicles, photovoltaics, and energy storage, contributing to the green and low-carbon development ofsociety.
Lightweight and Environmentally Friendly Structural Components for Automotive Bodies
The Company has achieved mass production and supply of a variety of front grille, exterior pillar, and lower bumper trim materials inhigh-gloss black metallic colors that do not require paint coating.
New Energy VehiclesPhotovoltaic Field
The Company has developed specialized polyphenyl ethermaterials for the photovoltaic industry which aligns with therequirements of connector development. These materials havebeen effectively integrated into the supply chain of componentmanufacturers, enabling mass production. As a result, theCompany has successfully addressed the crucial need ofphotovoltaic industry customers for independent andcontrollable supply chains of key materials.
Energy Storage Field
The Company has developed a full range of material solutionsfor portable and safe mobile energy storage power sources,which have gained recognition from leading customers in theindustry.
The Company actively explores the application of PPS ininsulation components for electric motors, power modules,speed sensors, electromagnetic coils, insulating sleeves,change gears, and brush handles, thus, establishing deepcooperative relationships with well-known automotivecomponent manufacturers and capacitor manufacturers in theindustry. Additionally, the Company has independentlydeveloped PPA materials with multiple specifications, whichhave been applied in power and electronic control systems fornew energy vehicles. The Company’s PPA materials haveundergone testing and certification by multiple customers inthe fields of thermal management and batteries, electricmotors, and electronic control systems for new energyvehicles.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
LCP products have obtained the (Underwriters Laboratories)UL certification.The company is in mainland China to obtain EIS certification for LCP materials.the first enterpriseLCP (KB40HF3) has obtained the (China Quality Certification Centre) CQCcertification.Selected products are certified by , (National Sanitation Foundation, USA), (German Drinking Water Industry), ISO 10993NSFKTW
(Water Regulations Approval Scheme, UK), and (French Ministry of Health Drinking Water Contact).WRASACS
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The Company has developed several regulations for technological innovation, including the R&D Organization ManagementSystem, Implementation and Reward System for the Transformation of Scientific and Technological Achievements, andRegulations on Compensation Management of Technical and Management Positions in the R&D Center. These regulationsensure a systematic and orderly approach to managing the generation of innovative ideas, the implementation of innovationactivities, the fulfillment of innovative achievements, the innovative patent protection, and the incentives for innovation,serving as a solid institutional guarantee for innovation and R&D activities.The Company has established a clear and well-defined R&D organizational structure. We have set up an R&D centerresponsible for developing and updating relevant regulations for technology innovation and protection, as well as promotingthe normalization of technological process improvements. The R&D Center adopts a flat management approach andencourages employees to actively share ideas and make bold attempts in their daily work, which maximizes their autonomyand creativity, continuously improves the project implementation and conversion rate, and effectively supports theenhancement of product quality and the expansion of the product portfolio. Additionally, the Company has establishedproduct divisions to collaborate with the R&D Department in product development and marketing, thereby consolidating theCompany’s product advantages.
The Company is dedicated to fulfilling the material requirements of products that contribute to a better life. With aproactive approach to R&D and innovation, we have successfully developed material solutions tailored for applications inareas such as drones, sports equipment, medical consumables, and robotics, enabling human beings to enjoy a better life.
The Company has established ourselves as a premier supplier to leading drone manufacturers. Additionally, we arecontinuously enhancing our technological expertise in drone materials. Our focus lies in providing safe and reliablepolymer and carbon fiber composite material solutions for the consuming machine, equipment for plant protection, dronesfor express and food delivery industry. These solutions encompass various components, including fuselage , tripod headand flight propulsion systems.
The Company has introduced a series of carbon fiber and glass fiber reinforced engineering plastics, successfullyapplied to outdoor skiing and water-based electric surfing equipment.
The Company’s medical consumables have obtained certifications from the U.S. Food and Drug Administration (FDA) andthe US Pharmacopeia 6(USP6), achieving mass adoption by key customers.
The Company has achieved designated certification as a primary supplier of smartwatches for a leading domesticcommunication customer in the field of smart wearables. Additionally, our materials have been used in automotiveelectrical components, and have been recognized and adopted by leading new energy vehicle manufacturers. Furthermore,our developed special dielectric materials have been successfully used in high-precision positioning antennas for smartvehicles, and this solution has been being promoted for use in multiple new energy vehicle models.
The Company provides material solutions including PAEK, LCP, PPS, PPA, and modified engineering plastics forcomponents used in motor control, connectors, and body structural parts of robots. These materials are tailored to meetthe requirements of lightweight, precision integration, and high-speed signal transmission in robotics. Among them, Wehave planned an annual production capacity of 1,000 tons for PAEK material.
The Company places customer satisfaction as its fundamental priority, establishing an adaptive, efficient, and sustainable innovation R&D system tomeet market demands. We strengthen our investment in innovation and the development of innovative talents, integrate internal and external R&Dresources, and continuously enhance our independent innovation capabilities driven by customer demands, striving to build a leading specialpolymer materials platform in the industry.
Continuous Technological Innovation
Drones
SmartDevices
MedicalConsumables
SportsEquipment
Robots
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
1516
The Company places great importance on building a strong R&D team and continuously optimizes the structure of its R&Dpersonnel. We emphasize the recruitment and motivation of high-caliber talents with expertise in cutting-edge fields. Ourgoal is to create a well-structured team with diverse professional backgrounds that is not only willing to push boundariesbut also courageous in innovation.
The Company maintains a continuous and substantial investment in R&D activities, both in terms of hardware and softwareresources, including financial support, equipment upgrades, establishment of innovative platforms, optimization of the R&Dteam structure, and professional skill training. These investments provide comprehensive and multidimensional support fortechnology R&D and product innovation.
Overview of the R&D Team
Capital Investment
The Company continues to strengthen its investment in R&D to ensure sufficient financial support for innovation.In 2023, the Company’s R&D expenses amounted toRMBR&D Personnel Ratio
As of the end of this report,the total number of R&D personnel in the Company was
Representing ayear-on-year increase of
30.31%
Education Background of R&D Personnel
Relying on the Guangdong Provincial Academician Expert Enterprise Workstation and the Jiangsu Foreign Expert Studio, theCompany has gathered a group of academicians, experts, and scholars in the field of materials. We actively engage inexchanges with external laboratories and educational institutions, conducting in-depth collaborations with testing institutionsand universities, facilitating the exchange of cutting-edge technologies and the implementation of R&D outcomes.Additionally, we have established the Synthetic Biochemical Application Joint Innovation Center in partnership with theShenzhen Institute of Advanced Technology, Chinese Academy of Sciences. The Joint Innovation Center primarily focuses onthe fields of bio-based polymers and animal and plant nutrition. It fosters collaboration across multiple dimensions, includingcutting-edge technology research, new product development, establishment of technological platforms, and talent cultivation.
Equipment InvestmentTo ensure efficient R&D processes and high-qualitytesting, the Company consistently introduces advancedequipment. As of the end of 2023, we have acquiredinternationally leading experimental, analytical, and R&Dequipment, including SEM, xenon aging chambers, vectornetwork analyzers, and capillary rheometers. These state-of-the-art devices serve as the foundation for establishinga comprehensive R&D testing system for polymermaterials analysis, testing, and environmental simulation.
The Company has established a nationally accredited CNAStesting laboratory, the High-Frequency CommunicationMaterials Laboratory, and the Guangdong ProvincialEngineering Technology Research Centre.Equipped withhigh-frequency dielectric performance testing equipment,the High-Frequency Communication Materials Laboratoryenables us to understand the dielectric characteristics andchanging trends of different materials at high frequencies, todrive the application of our products in the 5G industry.
R&D Platform
Disciplines of R&D PersonnelThe Company has built a diverse and well-rounded talentteam, covering disciplines such as polymer materials,chemical engineering, industrial design, materials science,analytical chemistry, and inorganic chemistry. Additionally,we have actively recruited professionals specializing innanomaterials to capitalize on the developmentopportunities of nanomaterial applications in the field ofpolymer materials.
National-level Expert TalentsThe Company has actively collaborated with renownedacademicians, experts, and scholars in the field ofmaterials, thereby continuously energizing our innovationand R&D activities.
The proportion of R&D personnel in the total number of employees was
18.28%
6.41%
The proportion of R&D expenses inthe operation income was
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
person
The Company has actively recruited highly educated talents, including people with doctoral and master’s degrees, in order to strengthen itstalent advantage.Among the R&D personnel, the percentage of people with a master’s degree or above was
12.39%
98.4515
million
1718
The Company has made remarkable achievements in product innovation, the product portfolio is increasingly perfect, hasmany invention patents, and realizes the patent coverage of the whole process, and its innovation ability has been highlyrecognized.
To enhance quality management, we have established the Quality and Cost Committee, which consists of the Quality and CostManagement Committees at both the headquarters level and the subsidiaries level. Additionally, we have developed theMeasures for the Management of Quality and Cost Management Committee, which outlines the Company’s qualitymanagement philosophy, the responsibilities of the quality management committee, and the mechanisms for qualitymanagement. This ensures comprehensive quality management oversight within the Company and promotes synergy inquality management among subsidiaries.
The Company has established the Quality and Cost Committee, with a view to developing comprehensive quality management principles andpolicies that guide our subsidiaries in ensuring top-notch quality control. We actively pursue certifications for our quality management systems,establish robust mechanisms for maintaining high standards, and strengthen supplier management to guarantee the quality and stability of rawmaterials. The Company strives to uphold stringent standards and rigorous management as the core principles, ensuring our top product quality.
Ensuring Product Quality
Since our establishment, we hasprioritized product innovation as acrucial strategic focus. Our productline now covers the entire industrialchain, spanning polymerization,modification, products, and finishedgoods, and we are steadilyadvancing towards our ambition ofbecoming a “specialized high-performance polymer materialsplatform”.
As of the end of 2023, the Companyholds more than 400 patents. Thesepatents cover sales and utilizationregions including mainland China,Taiwan, the US, EU, Japan, SouthKorea, and Vietnam, providing fullprocess patent coverage of“polymerization-modification-finished products”.
During the reporting period, JiangsuWOTE, WOTE Special Material,Conceptfe, and WOTE Zhichengreceived the High-tech EnterpriseCertificate, issued by the localDepartments of Science andTechnology, Finance, and TaxService. This certificate serves as atestament of our technologicalinnovation strength. Furthermore,WOTE Special Material has beenproudly recognized as a national-level specialized and new “little giant”enterprise.
Highly RecognizedInnovation CapabilityIncreasingly ImprovedProduct Portfolio
More R&D Achievements
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Quality and Cost Management Committee
at the HeadquartersQuality and Cost ManagementCommittee of Huizhou WOTE
Quality and Cost ManagementCommittee of Jiangsu WOTEPlanning, organizing, and coordinating overall quality management work within the Company;Developing the Company’s quality policy and objectives and implementing comprehensive quality management work;Coordinating training resources within the Company and organizing systematic training in quality management;Facilitating the exchange of experience and methods in quality and cost management among subsidiaries, as well assharing typical cases of quality and cost improvement;Organizing the resolution of systemic quality issues across the Company and promoting improvement initiatives;Providing recommendations about quality and cost management work for subsidiaries of the Company.Ensuring compliance with quality and cost management requirements set by WOTE, and clarifying quality policiesand objectives of subsidiaries;Striving for continued improvement on an annual basis, actively promoting the development, dissemination, andlearning of quality culture;Establishing and maintaining a sound quality management system and quality control methods to ensure thesustained competitiveness of products;Organizing continuous learning and development for team members, conducting internal training and disseminationof quality and cost management requirements, establishing a professional quality management team, and ensuringthat all employees have cost awareness while key positions have clear quality cost control methods;Conducting periodic summaries and reports on the Company’s quality management and improvement work,exchanging and sharing experience and issues about quality management.
Quality and CostManagement Committee of
WOTE Special Material
Quality and Cost ManagementCommittee of WOTE Zhicheng
Responsibilitiesof the Quality andCost ManagementCommittee
at theHeadquarters
Responsibilities
of the Quality
and CostManagement
Committeeof Subsidiaries
1920
Quality System Certification
Comprehensive system certifications allows us to provide customers with all-roundquality assurance and service by providing a complete range of material analysis dataand reliability assessments, The company adheres to high standards, having obtainedISO 9001 Quality Management System Certification and IATF 16949 Automotive QualityManagement System Certification. Additionally, the Company is among the first in thecountry to implement EU RoHS and Reach quality standards, aimed at eliminating heavymetals and toxic organic substances from materials at the source, thus mitigating risksto human health and the environment and enhancing product quality assurance.
The Company has established a rigorous product quality management process to ensure quality control throughout the entire production process.This is achieved through measures such as raw material control, standardized production, quality inspections, and product traceability.Quality Control throughout the Process
Quality Culture Construction
The Company sets annual quality objectives and strives to continually elevate standards. We hold quality meetings on a monthly basis, implementQCC projects, and maintain a consistent focus on quality management training and assessment, thereby strengthening overall quality coordination,enhancing the management skills of relevant personnel, and fostering a sense of responsibility towards quality. Moreover, we firmly adhere to thequality philosophy of “getting things right on the first attempt” and employ various strategies to reinforce its integration and mitigate quality risks.These strategies include consciousness cultivation , integration into our systems, intensified training, as well as regular summaries andimprovements.
IATF 16949 AutomotiveQuality Management SystemCertification
The concept of “getting things right on the first attempt” is delivered through morning meetings, monthly meetings, ordisplayed through on-site signage to foster an environment that embodies such principle. It is incorporated into theperformance evaluation system to reinforce its importance.For work processes prone to errors, detailed standards or self-inspection requirements are established. Procedures anddocuments are revised to enhance system control and reduce error rates.
Summary andImprovement
Training sessions are conducted to promote the concept of “getting things right on the first attempt” by providingexamples tailored to different job positions.During monthly quality review meetings, reflections are made on instances where the principle was not adhered to.Corrective actions are taken, and the lessons learned are documented to ensure continuous improvement.
EnhancedTrainingIntegrationinto the System
ConsciousnessCultivation
The Logistics Department inspects the packaging, product names, specifications, and quantities of purchased materials.The Quality Department conducts sampling inspections on the incoming materials for appearance, physical properties,and harmful substances. Non-conforming materials are identified and placed in the non-conforming materials area.Suppliers are contacted for return and corrective actions.
Effective identification is applied to raw materials, semi-finished products, and finished products to meet traceabilityrequirements. After customer order review approval, a product batch number is assigned during production planning, andthis batch number is recorded throughout the entire production process. The final product can be traced back to itsproduction date, batch number, and related records through the “Product Material Label” or “Product Packaging Coding”.
Before the production of new products, the R&D Department develops a Product Formulation Sheet, and the ProcessDepartment develops the Extrusion Process Parameter Standards based on the provided formulation and productionconditions, in accordance with the Process Department Work Specifications. Training is provided to production personnelfor compliance with the established standards.
First Article Inspection: The Quality Department performs first article inspections during the production process, whichinclude checks on appearance, color, physical properties, and harmful substances. Production can only proceed after thefirst article inspection is confirmed to be qualified.Finished Product Inspection: The Quality Control Department conducts sampling inspections on finished products forappearance, physical properties, harmful substances, and package labels. The Color Department performs randominspections to monitor product color consistency, and the Process Department supervises critical and special processes.Shipment Inspection: During the product shipment phase, inspections are conducted on PQC inspection labels,appearance, physical properties, harmful substances, package labels and marks, material tilt, pallets, and packagingintegrity.Non-conforming Product Handling: Non-conforming products identified through quality inspections are categorized basedon appearance, color, physical and chemical properties, as well as type test results. They are then subjected to scrapping,or downgrading, based on the test results.
Raw Material
Control
QualityInspections
StandardizedProduction
ProductTraceability
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
ISO 9001 Quality ManagementSystem Certification
The Company adheres to legal and regulatory requirements and has established a rigorous product quality managementsystem, including Product Surveillance Measurement and Control Procedure, Identification and Traceability ControlProcedure, Nonconforming Product Control Procedure, and Testing Process Management Procedure to ensure that qualitycontrol activities are well-defined and structured. Relying on the quality management system certifications and full processquality control, the Company has established a stringent quality management system that effectively safeguards theproducts’ quality.
2122
The Company has set the goal of “reducing procurement costs, improving product quality from the source, and drivingcontinued improvement of suppliers”. In line with the Supplier Management and Control Procedure, the Companyimplements standardized management for supplier development, evaluation, auditing, communication, anddiscontinuation, aiming to collaborate with suppliers for sustainable development.
To identify suitable suppliers, the Company considers factors such as quality history, delivery performance, financialstability, complexity of procurement products, availability of resources, manufacturing capabilities, logistics processes, andcustomer service.For newly developed suppliers, on-site assessments and management system evaluations are conducted. Themanagement system evaluation includes certifications for ISO 9001 Quality Management System, ISO 14001Environmental Management System, ISO 45001 Occupational Health and Safety Management System, IATF 16949Automotive Quality Management System, and QC 080000 Hazardous Substance Process Management System. Thesuppliers are also required to provide HSF reports for raw materials (RoHS, Reach, etc.).Before formal acceptance, suppliers are required to sign Quality Agreements, Environmental Agreements, and QualityCommitment Letters, and for the electronics industry, raw material suppliers need to sign the EICC Commitment Letter.These agreements ensure that suppliers’ behaviors align with the Company’s quality and environmental requirements.Additionally, new quality and environmental requirements are periodically added based on customer demands.
Full Lifecycle Management of Suppliers
Supplier evaluations are conducted semi-annually and annually, considering aspects such as quality, cost, deliveryaccuracy, payment term, and service compatibility. Suppliers with poor evaluation results may face reduced or suspendedprocurement policies, the purpose is to encourage continuous optimization and improvement of suppliers. Furthermore,10 to 20 Class B suppliers are randomly selected each year for on-site audits according to the Supplier On-Site AuditChecklist. Suppliers scoring below 70 points are included in the Annual Supplier Optimization List, which strengthenscontrol measures and requires inspection and management through labeling.
We maintain good communication with suppliers. For strategic suppliers, a supplier perception model is established, andthe WOTE Supplier Satisfaction Survey Questionnaire is filled to optimize the cooperation between both parties.
In cases where suppliers cannot provide ISO 9001 certification, experience significant batch quality issues, or receive lowevaluation or audit scores, they are included in the Annual Supplier Optimization List. If corrective actions are not takenwithin the specified timeframe, their supply qualifications will be canceled, and they will be in the exit process.
Key Performance
China’s domestic suppliers accounted for
93.75%
While foreign suppliers accounted for
6.25%
Communication
Evaluation
Development
Exit
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Audit the completeness of the supplier’s quality management system, including whether they have obtained ISO 9001 andISO 14001 certifications, whether they have established quality objectives, plans, and actual progress, whether they haveestablished comprehensive environmental and RoHS operation instructions, and whether they implement internal qualitymanagement system and environmental audits, etc.
Supplier Audit Content
Audit the completeness of the supplier’s quality management throughout the entire process, including the establishmentand implementation of quality control systems for incoming inspection, instrument calibration, production control,shipment testing, etc.Audit the standardization of supplier R&D work, including the establishment and implementation of design managementsystems and PCN management processes, as well as the establishment of specifications and standards for theimport/transfer of new products.Audit the establishment and implementation of the supplier’s customer satisfaction survey and customer complainthandling system, including the system design and implementation of customer satisfaction surveys and improvements,customer complaint handling processes and response procedures.Audit the supplier’s employee training and assessment, including employees’ annual technical knowledge, environmentalknowledge training plans and implementation, as well as the establishment and implementation of the assessmentsystem.Audit the establishment and implementation of a responsible procurement system of suppliers, including the developmentand implementation of access procedures for new suppliers, development, update and implementation of supplier reviewrules, environmental certification of raw materials, and inclusion of environmental audits in the supplier audit rules andtheir implementation.
QualityManagementSystemQualityManagement
Process
R&DManagement
Customer
Service
EmployeeTraining
ResponsibleProcurement
100%
Approximately of suppliers went through the Company’s evaluation system review annually.
2324
The Company operates with integrity and adheres to a customer service philosophy centered around “commitment, mission fulfillment, customerinterest protection, high-quality deliverables, and unwavering dedication to promises”. Prioritizing customer needs resolution and issue handling, wehave established a sound customer service management system, and consistently seek opportunities to improve product and service quality.
Providing High-quality Service
The customer complaint resolution rate was
Key Performance
The Company primarily adopts a direct sales model, offering customers materials, design, processes, and post-usageservices. Through comprehensive and end-to-end tracking services, we aim to closely align with customer needs andprovide satisfactory products and services.
Customer Service Measures
Upon receiving customer complaints, our sales or technical personnel actively inquire about the specific details, whilethe Quality Control Department coordinates with other departments to analyze the root causes of the complaints.The Quality Control Department conducts inquiries into production and testing records to determine if the reportedissues exist in-stock items, and if necessary, conducts retesting of the inventory.If the complaints are attributable to our company, our technical service personnel will communicate with the customerto assess whether on-site assistance is required. If necessary, the Quality Control Department and R&D Departmentmay visit the customer’s site together.Temporary measures are established within 24 hours of receiving a complaint, and a Quality Improvement Reportaddressing the abnormality is provided within 5 working days.
Product Returns: When a customer requests a return, our marketing or technical service personnel will confirm the
reasons, quantity, and condition of the returned items. The returned items are segregated and subsequent handlingprocedures are determined based on their quality.
Product Recalls: For products that have been sold and are found to have quality issues either through customer
complaints or internal inspections, the Quality Control Department organizes a review of non-conforming products. Inparallel with the product recall process, the department provides customers with qualified products. Furthermore, theQuality Control Department will follow up on improvement measures taken by the responsible departments based onthe Corrective and Preventive Action Plan to address the identified issues.
The Company actively engages in high-quality development in the industry and actively participates in formulating industry standards, contributing tothe standardized development of the industry. Ms. Wu Xian, Chairwoman of the Company, holds positions in several social organizations such asChina Synthetic Resin Association, China Synthetic Resin Association Special Engineering Plastics Sub-Association, the Committee on Proposals ofCPPCC Shenzhen Committee, the Shenzhen Polymer Industry Association, and the Guangdong-Hong Kong-Macao Greater Bay Area StrategicEmerging Industry Development and Promotion Association. She provides valuable advice and suggestions for the development of Shenzhen cityand strategic emerging industries. Ms. Wu Xian, as the leading initiator, established the Shenzhen Strategic Emerging Industry Development andPromotion Association, which effectively facilitates the formation of industry clusters and promotes coordinated development among variousindustries.
Promoting Industry Development
Ms. Wu Xian, Chairwoman of the Company, concurrently serves as the Vice President of China Synthetic Resin Association,President of China Synthetic Resin Association Special Engineering Plastics Sub-Association, Honorary Chairwoman andChief Advisor of the Shenzhen Polymer Industry Association, Executive Chairwoman of the Alliance of Shenzhen AdvancedMaterial, and President of the Guangdong-Hong Kong-Macao Greater Bay Area Strategic Emerging Industry Development andPromotion Association. She has contributed to the high-quality development of China’s special polymer materials industryand strategic emerging industries.The Company actively engages in the drafting and development of industry standards, particularly in the development ofstandards for specialty polymers, including LCP, PPA, and PEEK. Additionally, we have contributed to the creation of thenational industry standard for Technical Specification for the Classfication of Recycled and Reworked Acrylonitrile-Butadiene-Styrene Copolymer (ABS), which aims to enhance the standardization level within the industry.
Direct SalesModel
HandlingCustomerComplaints
ProductReturns andRecalls
Collaborative development of the industrial chain holds significant importance in improving industrial efficiency, promotingindustrial upgrading, driving regional economic development, and enhancing the sustainability of industries. As a Vice-President Unit of the China Synthetic Resin Association and President Unit of the China Synthetic Resin Association SpecialEngineering Plastics Sub-Association , the Guangdong-Hong Kong-Macao Greater Bay Area Strategic Emerging IndustriesDevelopment Promotion Association (referred to as “GBASEIDPA”), and the Shenzhen Strategic Emerging IndustriesDevelopment Promotion Association (referred to as “SSEIDPA”), WOTE actively leverages its position as an industry leader todrive the collaborative development of upstream and downstream industrial chains through industry leadership, promotion ofindustrial collaboration, joint technology R&D and innovation, and providing suggestions for the government, as well as helpthe industry achieve more efficient, higher added value and more sustainable development.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
97.25%98.23%98.50%
202120222023
2526
On January 28 and January 30, 2024, the Fourth Session of the Seventh Shenzhen Municipal Committee of the Chinese People’s Political ConsultativeConference (CPPCC) and the Fifth Session of the Seventh Shenzhen Municipal People’s Congress were respectively convened, marking the commencement ofthe “Two Sessions” in Shenzhen. During the sessions, several SSEIDPA entrepreneurs put forward suggestions and advice regarding leveraging Shenzhen’sadvantages in the development of the strategic emerging industry chain, intensifying efforts to promote the transformation of scientific and technologicalachievements, solidly advancing high-quality development, and accelerating the release of new productive forces.
During the “Two Sessions” in Shenzhen,several SSEIDPA entrepreneurs provided suggestions and advice.
CASE
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Among them, Ms. Wu Xian, member of the CPPCC Shenzhen Committee, Deputy Director of theCommittee on Proposals of CPPCC Shenzhen Committee, and Chairwoman of WOTE, proposedaddressing the issue of mismatched supply and demand in Shenzhen’s strategic emergingindustry. She suggested that the government introduce supportive policies for chaindevelopment, guide and encourage local industry chain leading enterprises in Shenzhen toprovide rapid validation channels and supporting opportunities for new products of strategicemerging enterprises. She emphasized the need to guide market-oriented chain services to “findmarkets for enterprises”, and create a new pattern of long-term, high-quality development andinvestment promotion. These constructive suggestions aim to ensure that the policy of “findingmarkets for enterprises” is implemented throughout the entire chain of strategic emergingindustries, leveraging the closed-loop and high-quality development of the strategic emergingindustry to support Shenzhen in becoming a model highland for high-quality development in theGreater Bay Area.
GBASEIDPA is initiated by influential enterprises and individuals engaged in the “9+2” (9 cities in Guangdong Province plus 2 special administrative regions)urban strategic emerging industries in the Guangdong-Hong Kong-Macao Greater Bay Area, under the supervision of the Guangdong Federation of Industry &Commerce. With over 200 members encompassing enterprises, research institutions, investment organizations, and service providers, GBASEIDPA serves as akey platform for promoting the high-quality development of strategic emerging industries in the Greater Bay Area. By benchmarking against world-class bayareas and focusing on the Greater Bay Area, GBASEIDPA actively drives the high-quality development of China’s strategic emerging industries.In 2023, the Chairwoman of WOTE, Ms. Wu Xian, was elected as the President of the Greater Bay Area Innovation Association, and the Company took on theresponsibilities of the Presidential unit of the GBASEIDPA. Looking ahead, we are committed to fulfilling our responsibilities as the President Unit andsupporting GBASEIDPA in providing chain services to promote the collaborative development of the “9+2” city clusters in the Greater Bay Area. We strive todeliver top-notch services to the strategic emerging industries in the Greater Bay Area and work together with all members to foster new development formats,contributing more to the high-quality development of strategic emerging industries in the Guangdong-Hong Kong-Macao Greater Bay Area and Chinese path tomodernization.
Ms. Wu Xian, the Chairwoman of WOTE, spearheads the establishment of SSEIDPA, with WOTE assuming the role of President Unit. SSEIDPA is firmlygrounded in Shenzhen and has its sights set on the thriving Greater Bay Area, all while aligning its efforts with the national strategy. SSEIDPA functions as apivotal industry platform, with service empowerment and capital empowerment as its dual foundations. It is driven by a mission to propel the development ofChina’s strategic emerging industries, while placing a primary focus on promoting the integration of industry and urban development and empowering industrydevelopment. With unwavering dedication, SSEIDPA strives to build a national-level ecosystem platform that fosters collaborative innovation and thedevelopment of strategic emerging industries. Throughout operating for more than five years, SSEIDPA has established seven strategic emerging industryalliances, and has grown into a platform for the collaborative innovation and development of “20+8” industrial clusters, connecting over 3,000 industry leaders,champions in segment areas, and SRDI enterprises, making it an iconic social organization in Shenzhen. SSEIDPA has been recognized as an advanced socialorganization in Guangdong Province and a 5A-level social organization in Shenzhen.
Building a national-level ecosystem platform thatfosters collaborative innovation and development of strategic emerging industries
Building new business formats for the development of the Greater Bay Area to facilitatethe high-quality development of strategic emerging industries in the Greater Bay Area
WOTE places a strong emphasis on its responsibility to environmental protection,recognizing the impact of its business operations on the ecological environment. Weemploy rigorous environmental goals to ensure self-regulation and actively pursueopportunities to maximise the potential of environmental benefits. We are committed todeepening our efforts in carbon emissions, energy conservation, water resourcesmanagement, and pollution control. By doing so, we align with the requirements ofecological civilization construction in the new era and contribute to protecting lucid watersand lush mountains.
2728
WOTE is taking actionsto protect lucid waters and
lush mountains
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT 2023
Upholding the environmental policy of “compliance with laws and regulations, pollution prevention, energy conservation, and continuousimprovement”, the Company strengthens the building of its environmental management system, establishes an environmental managementorganisation, and develops environmental management systems such as Emergency Response Plan for Environmental Incidents in strict accordancewith the requirements of laws and regulations such as the Environmental Protection Law of the People’s Republic of China. WOTE continuouslyimproves its ISO 14001 environmental management system and comprehensively implements national and corporate environmental protectionrequirements.
Strengthening Environmental Management
Each subsidiary establishes an Environmental Management Committee or EHS Committee according to its specificcircumstances. These committees consist of company leaders and department heads, ensuring that senior managementis directly involved in environmental management. Each department clearly defines the Company’s overall environmentalobjectives and departmental goals. The committees are responsible for developing the Company’s environmental policies,objectives, and plans, as well as monitoring the implementation of environmental work in subordinate offices anddepartments. Office or working groups are established under the committees to facilitate the implementation andexecution of specific plans, monitor risks, and report to higher authorities. All departments and employees have clearlydefined environmental responsibilities. Each subsidiary and production base establishes goals and governance plansbased on their own environmental policies, objectives, and control procedures, ensuring the implementation ofenvironmental management tasks.
Organisational Structure
Key PerformanceNo major environmental pollution accidents have occurred and no incidents penalties have been incurred for violations of national andlocal environmental protection laws and regulations in the past three years.
To ensure that environmental management is effectively implemented and legally compliant, the Company establishes aset of systems covering environmental protection planning, environmental management, environmental management ofconstruction projects, operation and maintenance of environmental protection facilities and equipment, environmentalmonitoring, environmental reporting, environmental governance management, environmental protection supervision andinspection, environmental protection publicity, education and training, environmental risk assessment and hidden dangerrectification, environmental protection assessment, and emergency environmental management. These systems strictlyregulate all aspects of environmental protection work. Additionally, the Company maintains regular cooperation andcommunication with environmental consulting agencies, seeking their advice on environmental risk prevention and controlmeasures such as sealed packaging requirements for hazardous waste and anti-leakage measures for hazardous wastewarehouses. This ensures the compliance and effectiveness of these measures, minimising environmental risks.
System Development
The Company actively seeks authoritative third-party certification for its environmental management system, andconducts regular internal and external audits of the management system. Internal audits aim to self-assess theeffectiveness, compliance, and suitability of the Company’s environmental management system. External audits involveengaging third-party organisations to assess the overall or partial compliance of the Company’s environmentalmanagement system with standards, the achievement of expected objectives, and the fulfillment of customerrequirements. Any issues identified during audits are addressed promptly through corrective and preventive measures tocontinuously improve the Company’s environmental management system.
System Certification
The Company places great emphasis on green office practices, implementing measures to conserve energy, reducepaper usage, promote eco-friendly transportation, and procure green products. We have established a Green OfficeConvention to minimise energy consumption and mitigate our environmental impact in the workplace.
Green Office Practices
Utilise energy-efficient light bulbs and install light sensors to reduce unnecessary lighting.Procure office equipment, such as printers, copiers, and air conditioners with high energy efficiency ratings.Implement strict controls on electricity usage for air conditioning, lighting, as well as monitoring the consumptionof natural gas by cafeteria stoves and water heaters, ensuring their reasonable usage.Promote paperless office practices by utilizing electronic systems such as OA system, ERP, Lark platform,and self-developed management systems to handle internal affairs, thereby minimising paper usage.Encourage double-sided printing to increase paper utilization and reduce waste.Provide ongoing water conservation education to employees, turn off faucets in a timely manner,and reduce unnecessary water use.Prioritise the procurement of office supplies made from environmentally friendly materials,such as biodegradable stationery and eco-friendly paper.Use environmentally friendly cleaning products to minimise the use of chemical substances.Provide convenience for employees who choose to commute by cycling or walking,such as setting up bicycle parking spaces and changing rooms.Encourage employees to use public transportation for commuting, thereby reducing the reliance on private vehicles.
Implement proper meal planning in the canteen to minimise food waste and kitchen waste.
Encouragingeco-friendlycommutingWastereduction
2930
Greenprocurementof officesupplies
Waterconservation
Paperconservation
Energyconservation
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
By closely following national and local laws and regulations, WOTE has established an energy conservation and waste reduction system toencourage its main production bases to set environmental objectives, which provides strong support for the Company’s sustainable development byreducing energy consumption and lowering operational costs.
Enhancing Resource Efficiency
The Company continuously optimises its water resource management and monitoring systems. WOTE has developed andimplemented a Water Conservation Management System, which requires strict adherence to water-saving plans forproduction and domestic water usage. The system aims to eliminate wasteful water practices such as running, leaking,dripping, or any other form of water waste to continuously improves its water resource management.
Water Resource Management
WOTE remains steadfast in fostering a culture of “thriftiness is honorable, wastefulness is shameful”. With a focus onsource control and process improvement, the Company has established an efficient energy management system toreduce energy consumption in production and daily life.
Energy Management
Energy Management System
Policy DevelopmentGoal Setting
Awareness Enhancement
The Company encourages each production base toestablish environmental policies that facilitate the smoothimplementation of energy conservation and emissionsreduction initiatives. WOTE Huaben has developed amanagement policy of “regulatory compliance, energy-saving and emissions reduction, clean production, andpollution prevention”.
The Company sets specific targets for carbon dioxideemissions, electricity consumption, natural gas usage,gasoline usage, waste generation, production waste, andcanteen waste discharge, ensuring the effectiveness ofenvironmental management.
Dedicated Review
The Company and its subsidiaries respectively preparereports such as Energy Efficiency Assessment Report andClean Production Audit Report. These reports are subject toregular on-site audits conducted by expert teams, and thefeedback received is utilised to further improve andenhance performance.
The Company conducts regular centralised training andawareness campaigns to strengthen the culture of energyconservation and enhance employees’ awareness of energyconservation.
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Water Conservation Measures
The Company compiles a Water Conservation Assessment Report and regularly invites third-party organisations toconduct professional evaluation and analysis. This helps the Company monitor water usage trends and developimprovement plans to enhance water use efficiency and conservation outcomes.The Company implements “visual” pipeline network design and applies anti-seepage measures in different zones.We also installed groundwater monitoring wells to continuously track groundwater quality, ensuring the efficientutilization of water resources.All departments install water meters to monitor water consumption and conduct regular inspections of water pipesto promptly repair any leaks, achieving precise resource management.The Company advocates and actively promotes the implementation of water recycling projects. During thereporting period, WOTE Zhicheng carried out a wastewater reuse project, while Jiangsu WOTE upgraded its waterrecycling system to enhance water reuse rates.
WaterconservationassessmentPreventivemonitoring
Recycling
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Key Performance
WOTE Special Material
used recycled water fromtreated concentrated water for greening100%
Huizhou WOTE achieved a remarkable water reuse rate of
99.1%
with a
99%for industrial purposescirculation rate for indirect cooling water
of the water used for production inJiangsu WOTE was recycled water100%
Key PerformanceDuring the reporting period, WOTE Special Material achieved the target of reducing electricity consumption per unit product by1%
The Company implements a well-structured production plan and optimises the scheduling of equipment operationsto minimise the energy losses associated with frequent equipment start-ups and shutdowns.Production Equipment: New frequency regulation devices for transformers are adopted in the factory area to reducepower losses. Outdated and energy-intensive equipment models are phased out to improve energy utilization efficiency.Living Facilities: Solar and air-source water heaters are installed in employee dormitories to provide hot water,maximising the utilization of clean energy sources.The Company carries out double-glazed designs in its construction projects, allowing for ample natural light and reducingthe need for artificial lighting to significantly decrease energy consumption for heating during winters and cooling duringsummers.
PromoteGreen Buildings
Energy Management Measures
WOTE prioritises pollution control, striving to ensure that our emissions align with the regulatory standards of each operating location. The Companyis committed to minimising the release of pollutants to the greatest extent possible. Furthermore, WOTE actively implements a 5S managementsystem at its production sites, conducting regular audits and assessments to maintain compliance. Through an integrated control mechanismencompassing the entire process from production to recycling, WOTE effectively minimises its environmental impact.
Environmental Pollution Control
Pollution Control Measures
The Company has established a wastewatertreatment station and developed specificwastewater management procedures basedon the types of wastewater. Domesticsewage undergoes pre-treatment beforebeing discharged to third-party treatmentfacilities.Huizhou WOTE has implemented a separatesystem for sewage diversion enabling therecycling of sewage to enhance its overallutilization efficiency.
The Company has optimised its exhaust gas treatment processes. Each production base utilisesvarious adsorption devices such as activated carbon and diatomaceous earth, depending on the natureof the operations. Regular maintenance and equipment replacement are carried out to ensure thatannual inspections consistently meet compliance standards.Jiangsu WOTE has introduced advanced RTO equipment to purify and treat organic exhaust gases,effectively reducing VOCs emissions.Proactive measures have been taken by developing an Emergency Preparedness and ResponseProcedure to enhance the Company’s ability to handle and respond swiftly to incidents of abnormalemissions.
During the reporting period, WOTE Huaben set targets for the generation of general industrial solid waste and successfully achieved theestablished goals.Huizhou WOTE recycles and treats domestic wastewater, achieving zero discharge throughout the entire facility.
3334
Following the Waste Management Regulations, waste is classified, stored,and managed accordingly. WOTE has established a centralisedwarehouse for hazardous waste management, ensuring proper protectiveand warning signs are installed in place. Qualified third-party organisationsare engaged for the collection and disposal of these waste materials.During the reporting period, WOTE Huaben has developed a HazardousWaste Management Plan with a focus on upgrading and improvingproduction processes that generate large quantities of hazardous waste.
WastewaterExhaust Gas
Waste
In the production areas, noise emission limits have been established inaccordance with the Environmental Noise Emission Standards forIndustrial Enterprises. This ensures that daytime noise levels do notexceed 60 or 65 dB, and nighttime levels do not exceed 50 or 55dB.
Noise
Leading treatment processes are employed to effectively collect over70% of dust through gas hoods in Huizhou WOTE workshop, reducingpotential safety hazards caused by dust dispersion.
Dust
UpgradeEnergy-Using
Equipment
DevelopProduction
Plan
Key Performance
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
WOTE has fostered a unique culture of partnership, creating a supportive ecosystembased on appreciation, understanding, and tolerance. With the WOTE Academy’s learningand training system, it has provided a platform and growth opportunities for internationaland diverse team. Guided by the mission to “shape better life”, WOTE actively fulfills itssocial responsibilities by deeply ingraining them in its development path and continuouslysharing its achievements with employees and communities.
3536
WOTE cares about people,building a happy homeland together
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT 2023
Key Performance
The foundation of sustainable corporate growth lies in harmonious labour relations. WOTE is dedicated to creating a diversified, equal,harmonious, and progressive working environment. We genuinely protect the legitimate rights and interests of its employees, continuouslyenhance compensation and benefits, and strive to improve employee satisfaction and loyalty. At WOTE, we fully respect and ensure thatemployees’ demands are satisfactorily addressed.
Meeting Basic Needs
In strict accordance with laws and regulations such as the Labour Law of the People’s Republic of China, Labour ContractLaw of the People’s Republic of China, and Trade Union Law of the People’s Republic of China, WOTE has developedregulations and systems, including the Human Resources Management System and the Employee Handbook. TheCompany legally signs labour contracts with its employees and contributes to the “five social insurances and housingfund” as required by law. The Company has a strict policy against the use of child labour and forced labour, ensuring thatemployees are not subjected to discrimination based on factors such as ethnicity, race, gender, or religious beliefsduring the recruitment and employment processes.
Employee Rights
Number of Employees by Post
Number of employees in the parent company at the end of thereporting periodNumber of Employees Unit2023Person
Number of retired employees whose parent company andmajor subsidiary are responsible for expenses
The Company has established a compensation system based on “base salary + position salary + performance bonus”,developed and continuously refined the Compensation Management System and Performance Assessment and RewardSystem, which clearly define the basis and scope of salary and provide employees with fair, reasonable, and competitivecompensation. To enhance the transparency and effectiveness of performance evaluations, the Company regularlyconducts performance communication meetings between supervisors and subordinates. Through face-to-facecommunication, both parties provide feedback, address issues, and make suggestions to improve the performanceevaluation system, and clarify performance goals, and directions. Additionally, the Company has established aperformance appeals channel, giving importance to employees’ grievances and opinions, ensuring the fairness ofperformance assessments, and protecting employees’ legal rights. Furthermore, the Company has implemented a stockownership plan to encourage employees to focus on the long-term development of the Company and share its successwith employees.
Employee Compensation
As of the end of 2023, the Company’s stock ownership plan has covered employees.
Conducts performance management training.3738
Number of employees in major subsidiaries at the end of thereporting periodTotal number of working employees at the end of thereporting periodTotal number of employees receiving pay during the reporting period
Person
PersonPersonPerson
Production StaffSales StaffTechnical StaffFinancial StaffAdministrative Staff
Unit:Person2023
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
1,0501,2801,280
The Company offers multiple benefits, such as health check-ups and summer heat subsidies, to enhance employeemotivation and satisfaction in their work. Additionally, regular team-building activities and social gatherings are organised,along with provision of abundant holiday benefits, to foster a sense of belonging and happiness among employees.
Employee Benefits
We value the voices of our employees and have established multiple communication channels to encourage them toprovide feedback and suggestions regarding their own needs and the development of the Company, aiming to enhanceemployee engagement and a sense of belonging.
Employee Communication
Annual Trips
Health Check-ups
SummerHeat Subsidies
Job Allowances
Meal Allowances andAttendance Bonuses
Holiday Benefits
and Activities
Benefits
ProposalMechanism
Diversified Communication Channels
The internal email system ensures smooth and unobstructed formal communication channels, enabling promptdissemination of critical information including updates of company policies and event announcements.Regular all-hands meetings are convened, where senior leaders report on the Company’s strategic direction, keyachievements, and major changes. These meetings also provide an opportunity for employees to ask questionsand provide feedback.
The Company utilises the Lark group to periodically share information regarding company policies, promoteexemplary models, raise awareness about work safety, and extend holiday greetings, serving as a platform foremployees to express their attitudes, preferences, thoughts, and suggestions.
Regular department meetings are held to discuss specific work plans, monitor project progress, and addresschallenges encountered in the work process.Periodic or project-based cross-department coordination meetings are held to enhance information sharing andcollaborative synergy among different teams.Each subsidiary establishes a proposal mechanism to solicit suggestions regarding the Company’s managementsystem, process improvement, and potential key projects.
3940
Trade union distributes benefits
Cross-Department
MeetingDepartment
Meeting
All-hands
Meeting
InternalEmail System
CompanyLark Group
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Innovative Training FormatsThe Company is committed to the core talent philosophy of “Excellence, Value, Resources, and Collaboration”. We have established a comprehensivetalent development mechanism to cultivate a highly skilled and professional workforce and transform talents into a strategic asset for the Company,ensuring our sustained competitive advantage in the fiercely competitive market.
Enabling Value Realization
The Company firmly believes that “excellent talents make outstanding organisations”. Leveraging the resources of theWOTE Academy, the Company provides employees with four training systems covering the entire career lifecycle,including onboarding training, job skills training, industry-specific training, and job rotation training, to deepen employees’understanding of their roles and job responsibilities while equipping them with the necessary skills to excel in theirpositions. Additionally, for new employees, we provide a “Three Goals to Start, Seven Steps to Growth” training programto help new employees in their transition from students to professionals.
Employee Training
Leadership Drive
Management channel
Target:
R&D series, manufacturing series, and sales series employees
Professional channel
Cross Drive
New job transfer channel
Target:
New employees
Culture Drive
WOTE rookie
Objective:
To ensure that employees have a full understanding of theCompany’s corporate culture, strategy, employee benefits,rights, responsibilities, and obligations.
Talent Cultivation System
In 2023, the Company implementedinnovative training formats as part ofthe “Culture Drive” program, includingfounder’s office visits and factory sitetours, to enhance the effectiveness oftraining for new employees.
In 2023, the “Skill Drive” trainingprogram was conducted by theCompany, which included trainingsessions on topics such as TheRelationship between Procurementand Tax Burden, How to Plan aBusiness Communication Meeting,and WOTE Management Tool-PDCA.These trainings were specificallydesigned to enhance employees’professional capabilities.
In 2023, the Company organised the“Leadership Drive” training program inthe format of General ManagerWorkshop. The program coveredtopics such as Effective BusinessAnalysis Meeting Facilitation, TheJourney of Leadership from Beginningto End, and Developing FinancialAcumen for Effective Management.These training sessions aimed toenhance the leadership skills andmanagement capabilities of theCompany’s executive team.
Leadership Drive TrainingCulture Drive TrainingSkill Drive Training
Internal Awards Incentive
4142
Skill Drive
Target:
Executives and succession candidates
Target:
Newly promoted or transferred employees
Objective:
To improve the work efficiency and professional literacy ofemployees through professional knowledge and skillstraining.
Objective:
To encourage employees to venture into different fields,broaden their knowledge and industry insight, enablingthem to perform better in their new positions.Objective:
To enhance management leadership and sense ofresponsibility, and cultivate the strength of responsibility,vision and mission to lead and drive the team.
Factory Site Tours
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
New Employee Growth Path-Three Goals, Seven Steps of Growth
To ensure the regularity of training activities, the Company has established a training management framework organised by the administrationdepartment and implemented by specific departments. This includes the development of a Training Management System that outlines thecontent, format, implementation procedures, regulations, submission and formulation of annual training plans, as well as the content and targetaudience for legal and regulatory training for corporate and executive staff. Each training session requires the completion of a Sign-in Sheet toensure 100% participation of employees in training activities.
“Culture Drive-WOTE’s First Lesson” training
Conduct a visit to the production baseThe mentor and the new employee collaborate to develop a talent development plan, and define keymeasurable tasks and growth plans for the probationary period.
Conduct onboarding training for the new employeeFamiliarise the new employee with the Company and team membersAssign a mentor to accompany and guide the new employeeThe mentor communicates and clarifies the role expectations for the new employee.
Clarify the new employee’s role based on the interview and background checkSelect and confirm a mentor for the new employeeInitiate communication between the mentor and the new employee
The mentor provides continuous work supervision according to the New Employee Development Plan,completing stage assessments and planning for next month before the 5th of each month.
Seven Steps to Growth
Three Goals to Start
Cultural start
Networking start
Responsibility start
Talent acquisition and development are crucial aspects of the Company’s talent management endeavors. The Companyupholds the principle of assigning appropriate roles to the right people and establishes mechanisms for talent promotionand selection. Innovative talent assessment tools have been introduced to facilitate the mutual growth of employees andthe Company.
Employee Development
Employee Promotion Mechanism
The Company values the contributions of each employee andprovides promotion and development opportunities to thosewho demonstrate dedication, innovation, outstandingperformance, and exceptional abilities. We have established aclear career development path for employees, and developedthe Personnel Selection and Appointment ManagementRegulations. By following the principles of openness, fairness,and impartiality and through selection, probation, andcompetitive processes, suitable employees are promptlyadjusted to appropriate positions, fostering their professionalgrowth. In 2023, several branches of the Company promotedseveral managerial and director-level management partners,including six director-level management partners. Amongthem, the newly promoted Deputy General Manager andQuality Director of Huizhou WOTE have progressed fromgrassroots positions to core management roles since joiningthe company after graduating from university.
Talent Assessment Tools
In 2023, the Company introduced the Herrmann BrainDominance Instrument (HBDI), a whole-brain preferenceassessment tool, which covers core management talents.HBDI evaluates individual thinking preferences based on theWhole Brain Thinking model proposed by Ned Herrmann. Itassesses thinking styles from four dimensions: logicalanalysis, sequential control, interpersonal communication,and intuitive innovation. This tool helps managers of theCompany gain a clear understanding of their thinkingpreferences, biases and blind spots in the decision-makingprocess, and their comfort zones. It also assists in jobmatching and the development of training plans tailored toindividual talent preferences, thereby facilitating talentgrowth and development.
4344
After acceptingthe offer
First day atWOTEFirst week atWOTEFirst month atWOTEFirst threemonthsThroughout theprobationaryperiodHR conducts regular follow-up visits.The HR department organises the confirmation assessment process.Mentors conduct pre-confirmation assessments with new employees and assist in preparing theconfirmation report.Employmentconfirmationassessment
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Key Performance
Safety is the premise of development, and development is the guarantee of safety. The Company has implemented the EHS management system asa pilot in various production bases, clearly stating that all standards in the production and manufacturing process must comply with environmental,health, and safety requirements. The Company strictly implements the 15 hard measures for safety production stipulated by the State Council,continuously strengthens the identification of safety hazards, conducts safety emergency drills, promotes safety culture, and creates a safe, orderly,and harmonious production environment.
Ensuring Occupational Safety
The Company sticks to the principle of avoiding using hazardous substances whenever possible. If the use of hazardoussubstances is necessary, it requires permission through a safety review. The Company establishes hazardous substancecontrol standards, implements a strict audit system, and effectively controls and handles hazardous substances during theproduction process to ensure that chemicals have no negative impact on customers, employees, and the environment.
Chemical Safety
The Company has established a Safety Management Committee to focus on controlling various aspects of work safety.We comply with laws and regulations such as the Law of the People’s Republic of China on Work Safety and the Law of thePeople’s Republic of China on Prevention and Control of Occupational Diseases. We have developed the Safety ManagementSystem, Occupational Disease Prevention Management System, and Occupational Health and Safety Management Manual toeffectively ensure the health and safety of employees at the institutional level. Additionally, we have established amechanism for the allocation of responsibilities, rewards and penalties for safety accidents. Safety assessments areconducted in accordance with the work safety and management regulations, covering positions such as the GeneralManager, Deputy General Manager, Manager, Supervisor, and Team Leader, to enhance the importance of work safetyamong all levels of management. To strengthen employee safety awareness, the Company actively conducts work safetytraining and first aid knowledge training, and provide three levels of work safety education and training for new employeesto enhance their work safety awareness and personal safety protection capabilities.
Occupational Health and Safety
Control of Hazardous Substances in Raw MaterialsThe Company strictly follows relevant laws, regulations, and customer requirements to develop and continuously revise the HazardousSubstance Control Standard. This standard is not only used for internal control of hazardous substance use but also forms part of theEnvironmental Protection Agreement with suppliers to control the standards of hazardous substances in raw materials. Additionally, acombination of internal and external testing methods is implemented. Internal testing is conducted based on the IQC OperatingGuidelines and Specification of Product Quality Standards. For external testing, suppliers are required to provide annual qualified third-party testing reports, and incoming materials are subject to testing by third parties in case of anomalies. Regarding product testing, third-party testing organisations are hired each year based on material types and customer requirements to ensure compliance withhazardous substance control standards.
Chemical Safety Control during Production Processes
The management and supervision of hazardous chemicals within the Company are carried out by the subsidiary’s EHS Committee orEnvironmental Management Committee. In accordance with relevant laws and regulations, the Company establishes control proceduressuch as the Chemical Management Control Procedure and Emergency Response Plan for Hazardous Chemical Accidents. Theseprocedures clearly define the management standards for the entire process of chemical procurement, handling, storage, usage,emergency response, and waste disposal. Regular chemical leakage drills are conducted to enhance employees’ emergency responsecapabilities and prevent accident risks.Furthermore, the Company has initiated extensive collaboration with the Shenzhen Institute of Advanced Technology, the ChineseAcademy of Sciences, in areas such as bio-based polymer materials and plant and animal nutrition. The collaboration encompassescutting-edge technology research, new product development, establishment of technical platforms, and talent cultivation. The goal is topromote the use of bio-based polymer materials as substitutes for petrochemical materials and reduce the use of hazardoussubstances.
Organisational Structure of the Safety Management Committee
Establish and improve the system of work safety responsibility, inspect and assess the implementation of the work safetyresponsibility systemOrganise the finalisation of work safety rules and regulations and safe operation proceduresRegularly preside over meetings of the Safety Management Committee
Assist Director of the Safety Management Committee in managing work safetyChair weekly meetings and weekly safety inspectionsCoordinate the work safety work of each production department, as well as supervise and inspect the work safety work ofeach production departmentFormulate work safety goals, establish and improve sound work safety management systems for various safety workOrganise monthly work safety meetings and summarise work safety performanceResponsible for achieving the work safety goals set by the Safety Management Committee, implementing the resolutionsof work safety meetings, and supervising and inspecting the work safety work of own department
Total number of participants in occupationalsafety trainingNumber of safety emergency drills conductedNumber of fatalities due to work-related injuries
IndicatorUnit2023Person-Time
TimeNumber of new cases of occupational diseasesPerson
4546
Heads of Safety
ManagementCommittee in
VariousDepartments
SafetyManagement
Personnel
Deputy Directorof SafetyManagementCommittee
Director of Safety
ManagementCommittee
Person
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
1,280
Work Safety Management Measures
Establish full-time safety officer and safety administrator positions, conduct daily inspections to ensure theimplementation of safety management system.
From November to December 2023, WOTE’smain manufacturing bases conducted aseries of special work safety initiatives.Under the unified command of the SafetyManagement Committee, various activitieswere carried out to enhance the safetyawareness and emergency responsecapabilities of all employees. These activitiesincluded training sessions, on-site drills, anddedicated inspections, with a particularemphasis on fire prevention, firefighting, andemergency rescue.
South China Base
Carry out special work safety campaignscomprehensively, enhance the work safetyawareness and capabilities of all staff
We actively engage in social welfare activities by establishing the WOTE Public Welfare Fund and collaborating with various social organisations andfoundations, and participate in charitable activities that include industry talent development, improving the well-being of women and children, povertyalleviation, and assistance. We support social development and human progress, working together to create a harmonious and better livingenvironment.
Active Participation in Social Welfare
WOTE provided financial support to the “Qian Ai Yi Xing” poverty alleviation and education assistance projectinitiated by the Beijing Shenggen Kindness & Wisdom Foundation. This support helped three students from low-income households in Zongke Township, Rangtang County, Sichuan Province, to pay for their school fees. Bythe end of 2023, WOTE had consecutively donated funds to cover two years of tuition fees.
On December 7, the inaugural Child Friendly Expo (hereinafter referred to as “CFE”) was held at the ShenzhenConvention and Exhibition Centre. This expo, themed around child-friendliness, was the first large-scale eventthat combined philanthropy and industry to showcase outstanding cases and high-quality enterprises involvedin the building of child-friendly cities, both domestically and internationally. It displayed the achievements andexperiences of child-friendly city development in China. During the event, WOTE showcased the extensiveapplication and technological innovation of WOTE’s specialty polymer materials in areas including maternal andchild health, child education, food safety, and quality living, aiming to contribute to creating a societalatmosphere that cares for children.
In the immediate aftermath of the Gansu earthquake, the WOTE Foundation, in collaboration with the ShenzhenWomen and Children’s Development Foundation, mobilised resources to prepare and deliver 600 cold-weathersupplies (including children’s clothing, hats, scarves, etc.) to the frontline of the disaster-stricken area.
Help Impoverished
Students
4748
Carry out safety education for new employees and regular on-the-job training for front-line employees.Conduct emergency drills twice a yearPost safety slogans and set up safety bulletin boards in the factory
On-site inspections: conduct field visits to verify the effectiveness of safety production and occupational health measuresimplemented by subsidiary companies, as well as the integrity of their facilitiesEmployee interviews: gather feedback from employees regarding their familiarity with safety production policies,regulations, and their participation in safety education and training programsAssessment and corrective actions: safety production is a key performance indicator in our institutional assessments.Based on the review results, we develop and implement corrective action plans within the specified timeline.
Document review: assess whether subsidiary companies have established comprehensive safety managementsystems, including safety production responsibility systems, operational procedures, and accident emergencyplans, and procedures for improving it.
Equipment inspection: regularly inspect company equipment, including pressure gauges, safety valves, power cables,switch cabinets, etc.Occupational disease monitoring: organise employees to participate in pre-employment, during-employment, andpost-employment occupational disease examinations, including assessment of the current status of occupational diseases
East China Base
Overseas BaseSouthwest China Base
CASE
Earthquake Relief
Help to ImproveChildren’s Well-Being
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
SafetyM anagement
SafetyEducation
Safety
Testing
SafetyAssessment
The Company Made Its Debut at the Inaugural Child Friendly Expo
WOTE is dedicated to continuously enhancing internal governance,implementing standardised operations, and strengthening risk managementcapabilities. We are committed to upholding business ethics and ensuringinformation security. These efforts are aimed at building a solid foundation toachieve our vision of being a world-class provider of material solutions whilecreating long-term and sustainable social value.
4950
WOTE is committedto building a strong foundation and
creating long-term value
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT 2023
Key Performance
Strengthening Corporate Governance
The Company strictly adheres to the requirements of the Company Law of the People’s Republic of China, the SecuritiesLaw of the People's Republic of China, the Code of Corporate Governance for Listed Companies, the Listing Rules ofShenzhen Stock Exchange, the Guidelines for Standardized Operation of Listed Companies of Shenzhen Stock Exchange,the Company’s Articles of Association and other policies and regulations. WOTE has established a governance structureconsisting of the General Meeting, the Board of Directors and special committees and the Board of Supervisors withgeneral manager responsibility system under the leadership of the Board of Directors. The Strategy Committee, theNomination Committee, the Audit Committee, and the Remuneration and Assessment Committee have been establishedunder the Board of Directors to provide reasonable advice and strong support for the Board’s standardised, scientific,and efficient decision-making.In 2023, the Company revised certain provisions of the Articles of Association and the working rules of variouscommittees of the Board of Directors, in accordance with relevant laws and regulations and based on the actualsituation, to ensure the Company’s standardised operations. We also formulated the Independent Director WorkingSystem and Independent Director Special Meeting Working System to strengthen the constraints and supervision ofinternal directors and management, ensuring that independent directors fulfill their compliance obligations.
Governance Structure
WOTE Won “The Best Practice of Office of Board of Directors for Public Companies in 2023”
Organisational StructureChart of WOTE
BoD Meetings
MeetingsUnit2023time (s)
During the reporting period, the Board of Directors consisted of seven members, including three independent directors, accounting for 42.86% ofthe total board composition. These independent directors possess financial, legal, and extensive industry backgrounds. With their rich experiencein independent directorship and diverse professional skills, they ensure the scientific and rational decision-making of the Company’s strategicdecision, thereby playing a crucial role in driving the Company’s sustainable development.
5152
members
members
Board ofDirectors
Independent
Director
time (s)time (s)time (s)time (s)time (s)time (s)
Board of Supervisors MeetingsGeneral MeetingsBoD Strategy Committee MeetingsBoD Nomination Committee MeetingsBoD Remuneration andAssessment Committee MeetingsBoD Audit Committee Meetings
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
WOTE continuously enhances the corporate governance byimproving institutional development and governance structures.We aim to enhance the quality of information disclosure andeffectively address investor concerns, thus laying a solidfoundation for the Company’s sustainable development. In2023, WOTE won the “Best Practice of Office of Board ofDirectors for Public Companies in 2023” awarded by ChinaAssociation for Public Companies and obtaining an A-levelrating in the evaluation of information disclosure work by SZSEfor two consecutive years, recognising WOTE’s achievements ininformation disclosure management, corporate governancemechanism development, investor relations management,formulation and revision of relevant systems, as well assupervision and training.
WOTE HuabenShanghai WOTEQianhairongqiaoConceptfeWOTE ZhihuaWOTE ZhiyuanWOTE ZhichengJiangsu WOTEWOTESpecial MaterialHuizhouWOTEHongKongWOTE
HuizhouSpecial Material
WOTE Zhihe
WOTE ZhirongAdebang
General Meeting
Board of Supervisors
Strategy CommitteeNomination CommitteeRemuneration andAssessment Committee
Audit Committee
Board of DirectorsGeneral Manager
BoD Office
Key Performance
Key Performance
Highlighting the protection of shareholders’ rights, particularly those of small and medium-sized investors, the Companystrictly adheres to securities regulations and compliance requirements. In line with the Guidelines for Fair InformationDisclosure of Listed Companies and other relevant regulations, the Measures for the Administration of InformationDisclosure have been established. Company announcements are disclosed through official media channels, while ourwebsite and WeChat Official Account serve as primary platforms for providing authentic, timely, and comprehensiveinformation on the Company’s development. This ensures that all shareholders are well-informed and can exercise theirrights of oversight, supervision, and participation, while safeguarding the legal interests of the Company, investors,creditors, and other stakeholders.In order to strengthen the company's initiative in investor relations management and enhance investors' understandingand recognition of the Company, we carry out investor exchanges in accordance with applicable laws and regulations. Adedicated investor email address is in place, and personnel are assigned to promptly address investor inquiries througha dedicated hotline and reply to interactive questions. Additionally, active engagement with investors includes onlineinvestor communication sessions and research and exchange activities from time to time, aiming to meet investorneeds, facilitate two-way communication with investors, and enhance investor confidence.
Information Disclosure and Investor Relations Management
Number of compliance trainings heldNumber of people participating incompliance training
IndicatorUnit2023TimePerson-Time
104 investor inquiries were responded to through Hudongyi
WOTE attaches great importance to compliance management and has implemented a comprehensive compliance management system. Internalcontrol policies, including the Internal Audit Management System and the Internal Reporting System of Significant Information, have beenestablished. These systems enable proactive identification of potential issues and risks during operations, ensuring timely remediation andenhancing the Company’s risk management capabilities, contributing to the Company’s sustainable and high-quality development.
Compliance Management
StrengthenPreventionMechanisms
Internal Control and Risk Management Measures
Establish and improve risk assessment and prevention & control mechanisms, as well as hold regular riskassessment meetings to enhance the ability of enterprises to prevent and withstand risks.The headquarters audit department is appointed to conduct business guidance, supervision and evaluation of theaudit departments of each branch and subsidiary to strengthen the risk management capabilities of relevantpersonnel from the top down.Conduct annual audits to regularly sort out hidden business process risks.IdentifyRisksAccurately
SuperviseOptimizationandRectification
Conduct financial responsibility audits and special audits as appropriate, focusing on finance-related risks to avoidcausing major losses to the Company’s operations.Conduct regular internal control self-assessment work to review the internal control systems of the Company andaffiliated units from the three levels of appropriateness, legality and effectiveness, and assess the risks faced in theCompany’s business processes.Engage a professional third-party agency to carry out external audit work to further strengthen the review.When rules and regulations are updated and adjusted due to changes in the Company’s operations and decisions,the internal audit department must ensure that the relevant departments implement the system revisions as soonas possible and further standardise the Company’s management process.The Company carries out follow-up audits and supervision of issues discovered during the audit or review process,supervises and checks the adoption of audit opinions by the units involved, and continues to monitor the effects oftheir rectification.
5354
The total number of announcements disclosedthrough designated channels is 176
including interim announcements and 172
regular announcements4
The Company has received an evaluation in A-levelinformation disclosure from the SZSE for consecutive years.two
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Key Performance
WOTE consistently upholds ethical business practices and strives to foster an atmosphere of integrity, transparency, and honesty. We encourageemployees to cultivate a work style that is upright and incorruptible, and work together to remain true to the ethical bottom line of compliance andfair competition, ensuring that the Company’s operations are conducted in a just and transparent manner.
Commitment to Business Ethics
The Company is dedicated to conducting business with integrity, respecting the rights of customers, suppliers, andpartners, and adhering to business ethics and market rules. We have established a robust mechanism for cleanoperations and have formulated the WOTE Employee Code of Conduct, which clearly defines the obligations andresponsibilities of the Company and its employees in compliance, anti-corruption, and anti-fraud efforts.
Anti-Corruption and Anti-Fraud
We have organised anti-corruption and anti-fraud related training activities for
times
The coverage rate of training activities for anti-fraud, anti-corruption, etc. among employees reached100%
Reporting Channel
Email: stock@wotlon.comTel: 0755-26880862Fax: 0755-26880966Address: Room 3101, Block B, Building 9, Zone C, Phase III of Vanke Yuncheng,Liuxin 4th Road, Xili Community, Xili Sub-district,Nanshan District, Shenzhen City (Room 3101, Block B, Building 7, International Innovation Valley)Post Code: 518052
The Company recognises the importance of instilling a sense of integrity among employees and places great value on their professional ethicsand conduct and requires all employees to sign the Commitment to Integrity. Through strengthened supervision and specialised training, theCompany enhances employees’ awareness of integrity, fortifying their sense against impropriety. We internalise a culture of integrity, aligning itwith our operations throughout the company, and create a work environment featured by transparency and integrity.
Integrity Culture Building
5556
We have established a dedicated reporting channel to receive reports of illegal, unethical, or violations of company rules and regulations. Theinternal audit department is designated to directly handle complaints or reports submitted by employees. The audit department is required tocompile and report the complaint and whistleblower information regularly to the audit committee, ensuring effective oversight and guidance fromthe Board of Directors. The Company strictly maintains the confidentiality of the whistleblower’s information and the reported content, and takesserious action against any breach of confidentiality or retaliatory behavior, ensuring the safety and protection of the whistleblower.
Reporting and Whistleblower Protection
Anti-Unfair Competition
The Company firmly opposes unfair competition and is committed to creating a fair competitive environment. We strictlyadhere to laws and regulations such as the Law of the People's Republic of China Against Unfair Competition, the Anti-monopoly Law of the People's Republic of China, and the Model Provisions on Protection against Unfair Competition. Wehave established a mechanism for honest and fair competition and uphold the order of fair competition in the industry.During the reporting period, the Company did not have any litigation cases related to unfair competition.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
Key Performance
Information security is of paramount importance to WOTE. We have implemented a comprehensive information security management systemthat strictly adheres to relevant laws and regulations, including the Cybersecurity Law of the People’s Republic of China. Our unified standards andguidelines, outlined in the Information Security Management System, enable us to continuously enhance our information security managementcapabilities. By clearly defining responsibilities, implementing stringent controls over data storage and access permissions, and fosteringemployee awareness of information security, we are committed to achieving a comprehensive improvement in our information securitystandards.
Information Security Assurance
Zero case of information leaked have occurred in 2023.Zero complaints relating to infringement of customer privacy and loss of customer data have been received in 2023.
Information Security Management Measures
The IT team of the AHR Management Centre is responsible for information security protection and has the authorityto oversee information security within the Company. They have developed and implemented relevant managementpolicies to accomplish the tasks of information security construction.Department leaders are responsible for approving special privilege requests and strictly controlling the use ofinformation resources.
Strict ControlofPermissions
All sensitive or confidential data were encrypted and securely stored through physical security measures, ensuringthe confidentiality of backups. Additionally, we paid close attention to the physical security of storage media.Strict management was implemented for the allocation, transfer, disposal, or destruction of storage media to ensurethe security and integrity of backup data.
Each employee adheres to the principle of “whoever uses is responsible” and follows standardised practices forusing information resources.
Computers handling sensitive information have their data transfer interfaces and non-essential network accesspermissions disabled.Company data is strictly prohibited from being shared with individuals or organisations without authorisation.
Existing employees receive network security training at least once a year to enhance their awareness.New employees are required to study the Information Security Management System upon joining the Company,and it serves as a basis for their confirmation assessment.
ConfidentialStorage
DedicatedManagement
5758
Employee
Training
The IT team, the Finance Management Centre, and the R&D Centre are responsible for allocating and setting relevantsystem permissions to ensure that employees’ job scope aligns with their operational permissions.
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
WOTE reported the information cited in this GRI Content Index with reference to GRIstandards from January 1, 2023 to December 31, 2023.GRI 1: Foundation 2021GRI 1 adoptedInstructions for use
GRI 2-2: Entities included in the organization's sustainability reportingGRI 2-3: Reporting period, frequency and contact pointReporting FrameworkGRI Standards
About the ReportMessage from ChairwomanCompany OverviewCompany ProfileCorporate CultureCorporate HonorsMembership of the Social OrganizationSustainable Development Management
Governance Structure for Sustainable DevelopmentSustainable Development Management StrategyStakeholder EngagementMaterial Topics Analysis
Report Indicator Index
GRI 2-1: Organizational detailsGRI 2-6: Activities, value chain and other business relationships
GRI 2-28: Membership associations
GRI 3-2: List of material topicsGRI 3-3: Management of material topics
GRI 2-22: Statement on sustainable development strategyGRI 2-29: Approach to stakeholder engagement
GRI 2-12: Role of the highest governance body in overseeing the management of impactsGRI 2-13: Delegation of responsibility for managing impactsGRI 2-14: Role of the highest governance body in sustainability reporting
5960
Continuous Technological InnovationDeepening Industrial AdvantagesWOTE leads innovation, boosting industry development
Promoting Industry Development
GRI 416-2: Incidents of non-compliance concerning the health and safety impacts ofproducts and services
Providing High-quality Service
GRI 417-1: Requirements for product and service information and labelingEnsuring Product Quality
Enhancing Resource Efficiency
Strengthening Environmental ManagementWOTE is taking actions to protect lucid waters and lush mountains
Environmental Pollution Control
Meeting Basic Needs
Enabling Value Realization
Ensuring Occupational Safety
Active Participation in Social Welfare
Strengthening Corporate GovernanceWOTE is committed to building a strong foundation and creating long-term value
Commitment to Business Ethics
Compliance Management
Information Security AssuranceReport Indicator IndexFeedback Form
WOTE cares about people, building a happy homeland together
ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) REPORT
GRI 302-1: Energy consumption within the organization
GRI 302-3: Energy intensity
GRI 302-4: Reduction of energy consumption
GRI 302-5: Reductions in energy requirements of products and services
GRI 305-7: Nitrogen oxides (Nox), sulfur oxides (SOx), and other significant air emissions
GRI 401-1: New employee hires and employee turnover
GRI 401-2: Benefits provided to full-time employees that are not
GRI 405-1: Diversity of governance bodies and employees
GRI 403-1: Occupational health and safety management system
GRI 403-2: Hazard identification, risk assessment, and incident investigation
GRI 403-5: Worker training on occupational health and safety
GRI 403-6: Promotion of worker health
GRI 403-8: Workers covered by an occupational health and safety management system
GRI 404-2: Programs for upgrading employee skills and transition assistance programs
GRI 205-2: Communication and training about anti-corruption policies and proceduresGRI 206-1: Legal actions for anti-competitive behavior, anti-trust, and monopoly practices
GRI 205-1: Operations assessed for risks related to corruptionGRI 205-3: Confirmed incidents of corruption and actions taken
GRI 2-9: Governance structure and compositionGRI 2-12: Role of the highest governance body in overseeing the management of impacts
GRI 418-1: Substantiated complaints concerning breaches of customer privacy andlosses of customer data
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