ÈÙʢʯ»¯£º2024Äê¿É³ÖÐø·¢Õ¹±¨¸æ(Ó¢ÎÄ°æ)

Stock Code©s002493

RONGSHENG

SUSTAINABILITYREPORT 2024

Rongsheng PetrochemicalO®æcial Account

About the Repo®îRepo®îInformationRepo®îingScope

PreparationBasis

Data SourceGlossa®ñ

LanguagesRepo®îAssuranceCon®êrmationand ApprovalRepo®î Access

This repo®î elaborates the pe®íormance and management measures of Rongsheng Petrochemical Co., Ltd. (hereinafterreferred to as ¡°Rongsheng Petrochemical¡±, ¡°the Company¡±, or ¡°we¡±) in terms of the environment, society, and corporategovernance in 2024, with pa®îicular focus on stakeholder concerns.The repo®î covers the Company's information and data from Janua®ñ 1, 2024 to December 31, 2024 (hereinafterreferred to as ¡°the repo®îing period¡±), and some of the contents can be traced back to previous years or extended to2025. The repo®î covers Rongsheng Petrochemical and its subsidiaries, and a small po®îion of the data covers less thanthe scope de®êned above. Contents that refer to Zhejiang Rongsheng Holding Group Co., Ltd. (hereinafter referred to as¡°Rongsheng Holding¡±), the parent company of Rongsheng Petrochemical, is speci®êed separately.This repo®î is prepared based on the Self-Regulato®» Guidelines for Companies Listed on the Shenzhen Stock ExchangeNo.17 ¨C Sustainability Repo®¸ (For Trial Implementation) and the Self-Regulato®» Guidelines for Companies Listed on theShenzhen Stock Exchange No.1 - Standardized Operation of Companies Listed on the Main Board. This repo®î alsoreferred to the Global Repo®îing Initiative (GRI) Sustainability Repo®¸ing Standards, the Guidelines on Corporate SocialResponsibility Repo®¸ing for Chinese Enterprises (CASS-ESG 5.0) and Guidance on Social Responsibility Repo®¸ing (GB/T36001-2015).This repo®î is determined in accordance with an established set of procedures, which consists of identifying andprioritizing material issues about the environment, society, and corporate governance, determining the scope of therepo®î, collecting relevant information, compiling the repo®î, and reviewing the information in the repo®î.The ®ênancial data in this repo®î comes from the Annual Repo®î. Other information and data are from relevant internalstatistical repo®îs and documents of the Company. The amount of currency associated with the Company is measuredin RMB.For the convenience of presenting and reading, ¡°the Company¡±, ¡°Rongsheng Petrochemical¡±, and ¡°we¡± in this repo®î allrefer to Rongsheng Petrochemical Co., Ltd. and its subsidiaries. Other companies are referred to as follows:

ZPC refers to Zhejiang Petroleum & Chemical Co., Ltd.Zhongjin Petrochemical refers to Ningbo Zhongjin Petrochemical Co., Ltd.Rongsheng (Singapore) refers to Rongsheng Petrochemical (Singapore) Pte. Ltd.Rongsheng Energy refers to Rongsheng Energy Co., Ltd.Yisheng Dahua refers to Yisheng Dahua Petrochemical Co., Ltd.Yisheng New Material refers to Zhejiang Yisheng New Materials Co., Ltd.Hainan Yisheng refers to Hainan Yisheng Petrochemical Co., Ltd.Rongxiang Chemical Fiber refers to Rongxiang Chemical Fiber Co., Ltd.Shengyuan Chemical Fiber refers to Zhejiang Shengyuan Chemical Fiber Co., Ltd.Yongsheng Technology refers to Zhejiang Yongsheng Technology Co., Ltd.The repo®î is published in simpli®êed Chinese and English. In the event of contradiction between the two versions, thesimpli®êed Chinese version shall prevail.The Company engaged Klynveld Peat Marwick Goerdeler Huazhen LLP to provide limited assurance on the selected2024 key data in the 2024 Sustainability Repo®î. Please refer to the section ¡°Independent Assurance Repo®î¡± for moreinformation.Upon con®êrmation by the management, the repo®î was approved by the Board of Directors and published on April 24,2025.This repo®î is available in simpli®êed Chinese and English for readers' reference. To browse online or download thisrepo®î, please visit the o®æcial website of Rongsheng Petrochemical at http://www.cnrspc.com, or cninfo atwww.cninfo.com.cn.We value the opinions of our stakeholders, and readers are encouraged to contact us through the following methods.Your suggestions will help us fu®îher improve this repo®î and our social responsibility management.Telephone: [phone]O®æcial website: http://www.cnrspc.comAddress: No. 678 Xinyi Line, Yinong Town, Xiaoshan District, Hangzhou, Zhejiang ProvinceE-mail: [e-mail]

CONTENTS

About the Repo®îChairman's Message

About UsMarket StructureCore CompetitivenessRecognitionRemuneration AppraisalMateriality AssessmentESG Governance

AboutRongshengPetrochemical

Future ProspectsISO System Ce®îi®êcation Statistics of the CompanyIndependent Assurance Repo®îIndexReader's Feedback Questionnaire

Corporate GovernanceInformation Disclosure ManagementInvestor Relations ManagementBusiness Ethics Management

Ensuring OperationalCompliance to EnhanceGrowth Strength

Enhancing Environment ManagementResponse to Climate ChangeReducing Resource ConsumptionControlling Pollutant DischargeSeizing Clean Technology Oppo®îunitiesMain Environmental Pe®íormance Indicators

Conse®ïing Ecologyand Unleashing GreenPotential

Guarding Work SafetyStrengthening R&D InnovationEnhancing Quality Management

Creating Momentumby Reinforcing Qualityand Safety

Protecting Employees' Rights and InterestsStriving for High-Quality Se®ïicesPracticing Responsible SourcingBuilding a Better Community

Working Togetherin Harmony forCommon Progress

Chairman's Message

003004

The year 2024 is a crucial year for achieving the goals set out in the14th Five-Year Plan, in which we navigated an increasingly complexinternational landscape. Upholding our business philosophy of¡°Sincere Creation, Preeminent Pursuit¡±£¬ we dived into thepetrochemical indust®ñ and pressed forward with unwaveringdetermination on the path of technological innovation.Technological breakthroughs, cha®îing a path of innovation andresilience. In 2024, we centered our e®ão®îs on core business and

technological advancements to enhance the production capabilitiesand self-su®æciency of high-end petrochemicals and cutting-edgenew materials in China. This is essential in strengthening thefoundation for the independent development of our indust®ñ. OurJintang New Materials Project has e®ãectively extended our industrialchain, and fu®îher enhanced our comprehensive competitiveness bypromoting the development of light ole®êns and environment-friendlyoperations. At the Zhoushan Green Petrochemical Base, we havesuccessfully produced high-quality 1-octene, ending our reliance onforeign technology and ensuring the security of related supply chain.Moreover, the polyether plant and the polyester chip project werelaunched as scheduled, ®êlling domestic technology gaps, boostingsupply capacity, and accelerating industrial upgrading.

Li Shuirong Chairman

Environment-friendly practices, shaping a future of energye®æciency and green development. In 2024, we resolutely responded

to the ¡°carbon peaking and carbon neutrality¡± national goal byimplementing e®ãective carbon management measures across ouroperations. We have been exploring and devising initiatives to reducecarbon emissions at our factories while probing into e®æcientutilization and recycling of carbon resources. Our MSCI ESG ratingstepped up to BBB, which is among the best in China's commodityand diversi®êed chemicals indust®ñ, representing a leapfrogimprovement within one year. Our management pe®íormance oncarbon emission reduction, water resources management, corporategovernance among other issues is at the leading level in the globalpetrochemical indust®ñ. In 2024, we continued to ful®êll ourresponsibility by putting green initiatives into action. We invested RMB273 million in environment protection demonstrating our dedicationto environment-friendly development.International cooperation, paving the way for win-win developmentacross borders. In 2024, we deepened our international pa®înerships,reinforcing the global commitment of Chinese enterprises. Our collab-oration with Saudi Aramco progressed with the signing of the Memo-randum of Understanding and the Cooperation Framework Agreement,and we have achieved a milestone with the ®ênalization of the Develop-ment Framework Agreement. At major international events, such as theInternational Petroleum and Natural Gas Enterprises Conference andthe China International Impo®î Expo, we secured strategic pa®înershipswith leading companies from around the world to enlarge our interna-tional ¡°circle of friends¡±. Moving forward, we will intensify our interna-tional collaborations, deepen our presence in global markets, andactively engage in international competition and cooperation, to createpowe®íul momentum for China's high-quality economic developmentand contribute to the count®ñ's commitment to a higher level ofopenness.Soaring to new heights and embarking on the path to future success.Looking towards 2025, Rongsheng Petrochemical will remain dedicat-ed to the mission of ¡°Contribute to the count®ñ's real sector and leadindustrial development¡± and will continue to spearhead in the green,digital and intelligent transformation. We will leverage the advantagesin re®êning-petrochemical integration, optimize our industrial structure,and increase input in technological innovation to accelerate theiterative industrial upgrading. Together with our pa®îners, we will poolcollective wisdom and energy to advance with determination andpragmatism, ensuring the sustainable growth and transformation ofthe indust®ñ. Let us join hands to depict the grand blueprint for 2025.

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

About RongshengPetrochemical

006005

Rongsheng Petrochemical Co., Ltd. (SHE: Rongsheng Petrochemical, 002493) is headqua®îered in Hangzhou, Zhejiang Province. As an impo®îantpillar enterprise of Zhejiang Rongsheng Holding Group Co., Ltd., one of Fo®îune Global 500, the Company is one of the leading privatepetrochemical enterprises in China. Focusing on our prima®ñ business and standing fast to the real sector, we are an international enterprisededicated to the development of the whole petrochemical indust®ñ chain, with nearly 20 thousand employees. The Company adheres to thetwo-wheel driven scienti®êc and technological research and development (R&D) model of ¡°independent innovation¡± and ¡°open cooperation¡±. Wehave built several technological innovation platforms such as high-tech R&D center, academician expe®î workstation, enterprise technologycenter, and postdoctoral research workstation, forming a professional technical team mainly composed of expe®îs, sta®ã holding doctoral degreesand senior engineers. The Company is leading in the global indust®ñ in respect of competitiveness and the product brand value.The Company adheres to the development strategy of ¡°Two-Way of Ve®îical and Horizontal¡± and strives for the sustainable management goal ofthe ¡°Centurial Enterprise, Trillion Target.¡± The Company is mainly engaged in the R&D, production and sales of various oil products, chemicals andpolyester products. The Company has seven production bases in the Bohai Economic Circle, Yangtze River Delta Economic Circle and HainanEconomic Circle. We have established ®êve indust®ñ chains of polyester, engineering plastics, new energy, high-end polyole®ên, and specialtyrubber. We are one of Asia's major manufacturers of polyester, new energy materials, engineering plastics, and high-value-added polyole®ên, withnationally or globally leading production capability for chemicals, such as PX, PC, butadiene, MMA, cis-butadiene rubber and styrene-butadienerubber.Based on the existing and complete industrial chain, the Company is actively expanding its business in various ®êelds, such as new energy, newmaterials, organic chemicals, synthetic ®êbers, synthetic resins, synthetic rubber and oil products, with the propo®îion of related products constantlyincreasing. Meanwhile, the Company has been actively planning for globalized operation. In 2023, the Company introduced Saudi Arabian OilCompany £¨hereinafter referred to as ¡°Saudi Aramco¡±£© as a strategic investor and signed the Share Purchase Agreement as well as a package ofstrategic cooperation agreements through a wholly-owned subsidia®ñ of Saudi Aramco to establish a strategic cooperative relationship. Atpresent, Saudi Aramco holds 10%+1 of the Company's shares. In 2024, the Company signed the Development Framework Agreement with SaudiAramco and SASREF to expand re®êning and petrochemical production capacity and enhance international cooperation. The Company's grandblueprint for overseas development has fu®îher unfolded.

About Us

007008

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

The Company's footprints cover a plenty of provinces domestically, countries and regions globally.Market Structure

Corporate CultureCorporate culture is of utmost impo®îance for the Company'ssustainable development. During more than 30 years ofdevelopment, Rongsheng Petrochemical has always beenfollowing its corporate culture construction to unde®îakesocial responsibility actively and take the path of greeninnovation and sustainable development.

Core values

Honest, optimistic, and grateful

Be a centurial enterprise that is responsible,indust®ñ-leading, and sustainably pro®êtable

Se®ïe the count®ñ with indust®ñ andlead industrial development

Vision

Mission

Managementconcept

Sincere Creation,Preeminent Pursuit

009010

RecognitionCore Competitiveness

Advantage inComprehensiveIndustrialSynergy

Advantage

in Signi®êcant

Competitive

Location

After years of development and improvement, the Company has seized the oppo®îunities in the indust®ñadjustment and realized rapid growth, with the development mode of ¡°from a drop of oil to eve®ñthing inthe world¡±. Through the extension of the industrial chain, the Company has e®ãectively reduced businesscosts, realized the mutual suppo®î of upstream and downstream sectors, and also improved its sustainablepro®êtability and anti-risk ability.

The Company has a strong market sensitivity and ®ìexible decision-making mechanism, keeps an eye onmarket dynamics, and makes timely and accurate adjustments to the strategy under the institutionaladvantages of its own fast pace and few links, and grasps the oppo®îunities of the market situation. Themanagement has a keen investment acumen, accurate timing of project production, and excellentinvestment and ®ênancing capabilities.

The Company attaches great impo®îance to the construction of corporate culture, has a good workingatmosphere and a strong corporate cohesion, and has cultivated a group of stable core management, R&D,technical talents through internal training, external introduction, and other measures. The Company valuesthe cultivation of on-the-job employees, based on reality and comprehensive planning, constantlybroadens the employee selection platform, and establishes an e®ãective incentive mechanism, so that allkinds of talents have a ¡°stage where they can exercise their abilities¡±.The Company adheres to institutionalized construction, integrates digitalization, intelligence,standardization, process and normalization into the operation of the enterprise, fully integratesprocurement, production, invento®ñ, sales and other business links, and continuously improves the ability torespond quickly. The Company has established a set of e®ãective management systems based on its ownactual situation, clari®êed job responsibilities and work processes, and e®ãectively reduced operating coststhrough re®êned management.

Along the eastern coastline of China, the Company's production bases are mainly distributed in Dalian,Liaoning Province of the ¡°Bohai Economic Circle¡±, Ningbo, Zhejiang Province of the ¡°Yangtze River DeltaEconomic Circle¡± and Haikou, Hainan Province of the ¡°Belt and Road Economic Belt¡±and ¡°Maritime SilkRoad¡±. All production sites are adjacent to high-quality po®îs, connected to the canal, and the terminalfacilities are fully equipped. The main raw materials and other auxilia®ñ raw materials required for theproduction of the Company's products can be unloaded and stored at the Company's self-built or rentedchemical material wha®í, which greatly facilitates the transpo®îation of bulk raw materials and theirinvento®ñ adjustment.

The Company adheres to the two-wheel driven scienti®êc and technological R&D model of ¡°independentinnovation¡± and ¡°open cooperation¡±. We have built ®êrst-class R&D platforms such as high-tech R&D center,academician expe®î workstation, enterprise technology center, and postdoctoral research workstation. At thesame time, we actively car®ñ out foreign technical exchanges and discussions, promote the integration ofindust®ñ, university and research cooperation, integrate the resources of universities, society, enterprises andother pa®îies, work together to improve the level of scienti®êc research, promote technological progress, andjointly create an open, healthy, win-win innovation ecosystem. In recent years, the Company has continuouslyincreased scienti®êc research cooperation with domestic and foreign institutions, and its R&D investment hasconsistently maintained an indust®ñ-leading level, with independently-developed innovation capabilitiessigni®êcantly enhanced.

37th

of the 2024 Fo®îune

China 500

6th

of the Chemicals 50

2024 Ranking

8thof the ICIS Top 100Chemical Companies

6thof the ChemicalProducersBillion-DollarClubFo®¸une Magazine (US)Brand FinanceChemical Week (US)

Chemical &Engineering News (US)

China EnterpriseConfederation & China Enterprise Directors Association

China EnterpriseConfederation & China Enterprise Directors Association

14th

of 2024 GlobalTop 50 ChemicalFirms

36thof the Top 500ChineseEnterprises

Best ESGManagement ofListed Companiesin 20249thof the Top 500ChineseManufacturingEnterprises

Weekly on Stock

6th

of the 2024 Top 500

Petroleum andChemical Enterprises

(General) by SalesResponsibleGovernanceContribution Award

2ndof China Petroleumand ChemicalEnterprise Top 500(Independent Productionand Operation)China Association for

Public Companies

yicai.comChina Chemical Enterprise

Management Association

2ndof 2024 Zhe ShangNational Top 500Enterprises

2024 HangzhouListed CompaniesESG Strategy andCharitable ImpactLeaders 20

ZhejiangProvince AA-Level"Contract-Abidingand Credit-Wo®îhy"Publicly ListedEnterprise

Award ofHangzhou 5-StarKunpengEnterpriseZhe Shang MagazineHangzhou Civil

A®ãairs Bureau

Hangzhou MunicipalAdministrationfor Market Regulation

CPC HangzhouMunicipal Committeeand Hangzhou MunicipalPeople's Government

Excellent PracticeCases of SustainableDevelopment ofListed Companies in2024

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Advantagein Outstand-ing Strategic

Layout

Advantagein StrongR&D

Innovation

Advantagein AbundantTalentResource

Advantage in

E®æcientOperation andManagement

Independent CommodityIntelligence Se®ïices (ICIS), adata and analysis provider in the

global petrochemical market

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

Appendix

About RongshengPetrochemical

Working Together forCommon Progress

China Petroleum and Chemical

Indust®ñ Federation &China Chemical EnterpriseManagement Association

Remuneration Appraisal

The Company has adopted the Rongsheng Holding Group Overall Appraisal Program (hereinafter referred to as the ¡°Appraisal¡±), which takes theCompany's Directors, Supe®ïisors, and senior management into consideration, and has incorporated changes in sustainability pe®íormanceindicators into the remuneration structure of Directors, Supe®ïisors and senior management, so that their remuneration is tightly linked tosustainability goals. The Appraisal involves daily HSE supe®ïision and management (including contractors), incident management, safety training,employee satisfaction, and business ethics. The Company conducts annual appraisals of Directors, Supe®ïisors, and senior management inaccordance with the Appraisal and determines the annual bonus allocation plan on the basis of the appraisal scores

011012

Pe®íormance Highlights

289,094.84

325,111.61

326,475.16

362,587.42

374,918.44

377,845.94

4,367.11

6,555.28

5,101.48

351.82

541.58

721.13

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafetyAppendixAbout RongshengPetrochemical

Operating income

(Unit: RMB million)

Total assets(Unit: RMB million)

R&D investment

(Unit: RMB million)

Environmentalprotection trainingcoverage(Unit: %)

Safety investment(Unit: RMB million)

Total safety trainingcoverage(Unit: %)

Name

Fixed sala®ñ [monthly payment] (RMB 10,000)Variable pay [year-end payment] (RMB 10,000)

Total remunerationpayable before taxActual annual bonusbefore taxAnnual bonus payablebefore tax

Total actualremunerationbefore taxRemuneration of the Company's Senior Management in 2024

Total sala®ñOther allowancesXiang JiongjiongZhou XianheQuan WeiyingWang YafangNote

Variable compensation is determined based on the achievement of assessment indicators set at the beginning of the year, including resource andenergy consumption data, compliant emissions, stakeholder relationship management, brand building, and other sustainability pe®íormance. In 2024,the Company's senior management practically completed the goals set at the beginning of the year.

137.30

113.34

72.83

59.58

2.37

1.4

1.14

1.19

88.47

41.22

21.66

37.82

78.05

37.13

19.18

33.55

228.14

155.96

95.63

98.59

217.72 151.87 93.15 94.32

Working Together forCommon Progress

013014

During the year, Rongsheng Petrochemical conducted a company-wide materiality assessment following the procedures below:

Step 1: Analyze the background of the Company's activities andbusiness relationships

When conducting materiality assessment, the Company profoundly analyzes the background of each management activity and businessrelationship at ®êrst, and then conducts inte®ïiews with management personnel to obtain information on business, management, employees,products and se®ïices, and market conditions. Meanwhile, we analyze internal and external policies, risk assessment repo®îs and ESG standards, toso®î out the status quo, oppo®îunities and challenges of sustainable development. We are committed to building cooperative and mutuallybene®êcial relationships with both internal and external stakeholders to achieve win-win situation and maximized value with joint endeavors. Wemaintained active communication with stakeholders via multiple channels to learn about their demands and concerns and responded tostakeholders with practical actions.

StakeholderConcerns

ComplianceRisk managementPe®íormance growth and returnBusiness ethics

Communication Channels

Shareholdersand investors

Governmentsand regulators

Customers

Employees

Pa®îners

Communities

Shareholders' MeetingsCompany announcementRegular repo®îs and communicationPress conferences/meetingsInvestor su®ïeysWeChat o®æcial accountFully paying taxes according to the lawSuppo®îing the state strategiesLow-carbon operation and environmental protectionEnergy conse®ïation and emission reductionProduct qualityR&D innovationCustomer rights and interestsCustomer se®ïices

HotlineE-mailCustomer visitsThe Company's o®æcial website

Satisfaction su®ïeysCustomer complaints

Press release/announcementsThe Company's o®æcial websiteRegular communicationInformation disclosure

HotlineMailbox

Suppo®îing public welfare and charitySuppo®îing community constructionLow-carbon operation and environmental protectionEnergy conse®ïation and emission reduction

Charity eventsMedia communication and coverageSite visits

Materiality Assessment

STEP 1

Analyze the background of the Company'sactivities and business relationships

STEP 2

Create an IRO (impact, risk and oppo®îunity)invento®ñ of issues

STEP 3

Materiality assessment and con®êrmation

Both impact materiality and ®ênancial materiality are scored by internal andexternal ESG expe®îs based on the magnitude of the impact of the issues and thelikelihood of their occurrence.STEP 4

Materiality assessment result analysis

The 2024 materiality matrix is established based on the assessmentdata in Step 3, identifying and prioritizing annual material issues.STEP 5

Materiality information disclosure

The Strategy and ESG Committee reviews and con®êrms the analysis results, andthen the Company discloses the material issues in the sustainability repo®î, basedon the analysis results.

Policy analysisRules and standardsbenchmarking

Peer analysisESG rating requirements in thecapital market

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

The Company's activities and business relationshipsInternal and external objective environmentMajor stakeholders

Fairness and transparencyIntegrity in contract pe®íormanceCooperation and mutual bene®êtsResponsible sourcingProtection of intellectual prope®îy rights

Equal employmentRemuneration and bene®êtsEmployee developmentEmployee careOccupational health and safety

Suggestion boxesEmployees' meetingsHotlineEmployee eventsSe®ïice evaluationTechnical meetingsOnline communicationRegular visitsSuppliers' meetingHotline

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

015016

Step 2: Create an IRO (impact, risk and oppo®îunity) invento®ñ of issues

By benchmarking peer enterprises, studying macro policies and laws and regulations, ®ênding out indust®ñ development trends, and grasping ESGrating requirements in the capital market, we identify potentially material issues that can re®ìect the impacts of the Company's business oneconomy, environment and society or in®ìuence stakeholders' decisions. By doing so, we aim to ensure that the identi®êed issues are in line withregulato®ñ requirements as well as the international best practices. With extensive reference to the issue identi®êcation methods and prioritizationresults of peer enterprises pe®íorming excellently in respect of sustainability, we identify material issues that draw intensive concerns and updatethe IRO invento®ñ of issues.

Step 4: Materiality assessment result analysisWe adopt the two-dimensional matrix of ¡°®ênancial materiality - impact materiality¡± to present the materiality assessment results. We haveidenti®êed that ¡°climate change response¡± and ¡°environmental compliance management¡± are material in respect of ®ênance. Meanwhile, these twoissues also are material in respect of impact.

Step 3: Materiality assessment and con®êrmation

We assess and prioritize issues based on their impact materiality and ®ênancial materiality. Impact materiality focuses on whether the Company'spe®íormance in respective issues signi®êcantly a®ãects economy, society and environment. Financial materiality focuses on whether each issue isexpected to signi®êcantly a®ãect the Company's business model, business operations, development strategy, ®ênancial position, operation results,cash ®ìows, ®ênancing methods and costs in the sho®î, medium and long terms . In line with regulato®ñ requirements, risk assessment standards andactual production and operations, we set the determination thresholds for and prioritize impacts, risks and oppo®îunities, taking into account thefeedback from stakeholders and internal and external expe®îs. Ultimately, the assessment results are output to inform strategic decision-makingand resource allocation.When assessing the impact of sustainability issues, we consider the magnitude of the impacts on environment and society and as well as thefrequency of occurrence:

1 The period of time is de®êned as sho®î term when it is sho®îer than 1 year, medium term when between 1 year and 5 years, and long term when longer than 5 years,in order to align with the Company's strategic development plan, indust®ñ characteristics, nature of risks and oppo®îunities and resource allocation plan.

When assessing the risks and oppo®îunities of sustainability issues, we consider the severity of prope®îy damage consequences, the magnitudeof impact on prope®îy gains, and the frequency of occurrence:

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

ConsiderationDescription

Magnitude of impacts onenvironment and societyFrequency of occurrence

¡ñ¡ñ

It refers to the extent of impacts, and is categorized into high,medium and low levels.It measures how often an issue occurs, and is categorized intohigh, medium and low levels.¡ñ¡ñ

ConsiderationDescription

Severity of prope®îy damageconsequencesMagnitude of impact onprope®îy gainsFrequency of occurrence

¡ñ¡ñ¡ñ

It refers to the extent of prope®îy damage consequences, and iscategorized into high, medium and low levels.It refers to the extent of in®ìuence of impacts on prope®îy gains,and is categorized into high, medium and low levels.It measures how often an issue occurs, and is categorized intohigh, medium and low levels.

¡ñ¡ñ¡ñ

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

2024 Materiality Matrix for Sustainability Issues

High

Impact materiality

HighFinancial materiality

Governance issuesEnvironmental issuesSocial issues

Low

Circular economy

Innovation-driven

development

Pollutant emissions

Technology ethics

Employee

Anti-unfair competition

Water resource management

Social contribution

Rural revitalization

Chemical safety management

Due diligence

Waste management

Ecosystem and biodiversity

conservation

Stakeholderengagement

Management of cleantechnology opportunities

Privacy andinformation security

Product and service safety and qualit

Environmentalcompliancemanagement

Anti-corruption

Climatechangeresponse

Equal treatment for small and medium

enterprises

Supply chainmanagement

Energymanagement

017018

The Company has deeply integrated ESG management with the development and growth of its operation.We continue to practice social responsibility and work with stakeholders to generate value and sharedevelopment outcomes, acting as a company that sincerely pays back to the society and earnestly ful®êllssocial responsibility.The Company has set up a top-down ESG structure that involves multiple pa®îies. The Company hasestablished the Strategy and ESG Committee, which is chaired by the Chairman of the Board of Directors andhas four Directors as members. It is responsible for reviewing the Company's environmentalmanagement-related matters, including environmental strategic planning, environmental goal setting,environmental policy formulation and execution management, climate risk assessments, environmentalpe®íormance, and environmental information disclosure. The Strategy and ESG Committee regularly repo®îsto and is under the supe®ïision of the Board of Directors. The O®æce of Board Secreta®ñ leads otherdepa®îments and the subsidiaries in implementing and promoting ESG governance practices. This structureclearly de®ênes the responsibilities and promotes the cooperation within the Company, laying a solidfoundation for the Company's ESG governance and sustainable management.The Strategy and ESG Committee holds a regular meeting at least once a year to receive brie®êng from themanagement on the progress of ESG matters. Various topics are discussed at the meeting, including ESGpolicy trend, key issue management, potential risks and oppo®îunities, progress towards targets andinformation disclosure. Through the meeting, we can ensure that ESG-related impacts, risks andoppo®îunities are fully considered for decision-making, work planning and resource allocation. During therepo®îing period, the Strategy and ESG Committee hold one meeting in total to review the Company's ESGmanagement.The Company organizes regular training sessions lectured by indust®ñ expe®îs, covering areas such as latestESG trends, excellent case studies and professional skills. These training sessions provide the Board ofDirectors, the management team and relevant personnel with ESG knowledge and practical skills, enablingthem to ful®êll the Company's strategic planning, implement policies and meet regulato®ñ requirements.

ESG Governance

Board ofDirectors

Strategy andESG Committee

Management Level

Execution Level

Rongsheng PetrochemicalESG governance structure

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Senior

Management

Secreta®ñ ofthe Board

Depa®îments andSubsidiaries

Decision-makingLevel

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

Appendix

About RongshengPetrochemical

Working Together for

Common Progress

019020

The sustainable development of an enterprise depends not only on its robust ®ênancialpe®íormance, but also on a well-established corporate governance structure as wellas a fair and harmonious business environment. Rongsheng Petrochemicalcontinuously optimizes the internal management system and adheres to highstandards for business ethics, striving to ensure that all business activities comply withlaws and regulations. We are committed to incorporating the concepts of ¡°innovation,coordination, sustainability, openness, and sharing¡± into our business strategy. Inaddition, we also actively unde®îake social responsibilities and maintain a soundrelationship with society, to boost the Company's new journey of high-qualitydevelopment with a well-established responsibility system.

Ensuring Operational Complianceto Enhance Growth Strength

The Strategy and ESG Committee, Audit Committee, Risk Control Committee, Nomination Committee, and Remuneration and Appraisal Committeewere instituted under the Board of Directors. Each committee assumes its responsibilities and collaborates with the others to ensure the Company'shigh-quality development.

¢Ù Review the Company's major business strategies

¢Ú Supe®ïise and verify the Company's major investment decisions

¢Û Review and supe®ïise the Company's ESG matters, and regularly repo®î

to and be subject to the supe®ïision of the Board of Directors

¢Ù Inspect the Company's compliance with laws and regulations

¢Ú Review the Company's accounting policies, ®ênancial position, and ®ênancial

repo®îing procedures

¢Û Communicate with the Company's external auditors

¢Ü Appraise the internal auditors and their work

¢Ý Appraise the Company's internal controls

¢Þ Review and supe®ïise the existing or potential risks in the Company

¢Ù Analyze the composition of the Board of Directors and de®êne the

requirements for Directors

¢Ú Establish criteria and procedures for the selection of Directors

¢Û Conduct an extensive search for quali®êed Director candidates

¢Ü Conduct a formal review of Director candidates nominated by the Board of

Directors and the Board of Supe®ïisors

¢Ý Finalize the candidate list for voting on the Shareholders' Meeting

¢Ù Formulate criteria for the appraisal of Directors, Supe®ïisors and senior

management and conduct the appraisal

¢Ú Formulate and review the remuneration policies and schemes for

Directors, Supe®ïisors and senior management

¢Ù Focus on the overall business targets, and execute the basic process of

risk management in all aspects of its management and operation to establish a good culture of risk management

¢Ú Establish a sound risk management system that includes risk

management strategy, risk ®ênancing measures, organizational functionsystem for risk management, risk management information system andinternal control system to provide reasonable assurance for the overall targets of risk management

Zheng XiaodongLi Cai'eXiang JiongjiongYan JianmiaoShao Yiping

Shao YipingLi ShuirongYu FengdiYan JianmiaoZheng Xiaodong

Yan JianmiaoLi ShuirongYu FengdiShao YipingZheng Xiaodong

Strategy andESG Committee

Note: The chairpersons of the committees are shown with their names in bold.

Audit Committee

Risk ControlCommittee

NominationCommittee

Remunerationand AppraisalCommittee

Li ShuirongLi YongqingYan JianmiaoShao YipingZheng XiaodongShao YipingZheng XiaodongLi YongqingLi Cai'eYan Jianmiao

In strict accordance with the applicable laws, regulations, and regulators' requirements of the locations where the Company's stocks are publiclyo®ãered, including the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Code of CorporateGovernance for Listed Companies, the Rules Governing the Listing of Shares on the Shenzhen Stock Exchange, and the Self-Regulato®» Guidelines forCompanies Listed on the Shenzhen Stock Exchange No.1 - Standardized Operation of Companies Listed on the Main Board, Rongsheng Petrochemi-cal continues to improve the corporate governance structure and internal control system to regulate the operation of the Company and maximizethe protection of rights and interests of the Company's shareholders, stakeholders and employees. The Company constantly improves internalmanagement requirements by formulating the Internal Repo®¸ing System for Material Information and other policies, aiming to achieve full coverageof the systems and re®êne the internal control system.The Company has established a three-tier governance structure which consists of the Shareholders' Meeting, the Board of Directors, the Board ofSupe®ïisors, and the senior management. The Company has independent business and operational autonomy and operates independently in termsof its business, assets, personnel, organization, and ®ênance. During the repo®îing period, a total of 6 meetings of the Board of Directors, 6 meetingsof the Board of Supe®ïisors, and 2 Shareholders' Meetings, were held. A third-pa®îy law ®êrm con®êrmed that the convening and correspondingprocedures of the Shareholders' Meetings complied with the relevant laws, regulations, normative documents and the relevant provisions of theA®¸icles of Association of the Company, such as the Company Law of the People's Republic of China, the Rules on Shareholders' General Meetings ofListed Companies, the Shenzhen Stock Exchange Detailed Rules for the Implementation of Online Voting of Listed Companies at the General Meetingof Shareholders. The Shareholders' Meeting of the Company adopted on-site voting and online voting, and voting is carried out by registered voting,and all the proposals of the general meeting of shareholders have been passed, and there is no selective information disclosure.We place emphasis on the diversity in gender, professional background and expe®îise of our Board of Directors. By the end of the repo®îing period,the Company had 9 Directors and 3 Supe®ïisors, including 1 foreign Director and 8 domestic Directors, and 3 of the Directors were female. Amongthese Directors and Supe®ïisors, 2 are professors, 1 hold doctoral degrees, and 3 hold master's degrees. Our Directors have the professionalbackground in a variety of disciplines including ®ênance, law, and economics, and they all have rich experience in the indust®ñ, ESG management andrisk management. They are capable of reviewing the Company's decision-making in a more inclusive, long-term, and international perspective,e®ãectively improving the Company's internal governance e®æciency and laying the cornerstone for the stable and sustainable development of theCompany. The information on Directors, Supe®ïisors and senior management is detailed in the 2024 Annual Repo®¸.

Corporate Governance

2024

Meetings of the Board ofSupe®ïisors

Shareholder'sMeetings

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Meetings of the Boardof Directors

The Company has incorporated business ethics risk assessment in the scope of key risk identi®êcation and risk assessment. Moreover, the Companyregularly identi®êes business ethics-related risks and maps out speci®êc response measures. To address business ethics risks in key areas, theCompany not only conducts internal audits and special inspections£¬ but also formulates and implements targeted preventive measures. For majorbusiness ethics issues identi®êed, the Company's Inspection Depa®îment is responsible for rectifying ®êndings, while the Strategy and ESGCommittee of the Board of Directors is responsible for monitoring and managing the progress of recti®êcation in a timely manner.

023024

Establishing Management Framework

The Strategy and ESG Committeeof the Board of Directors

Business ethics is an impo®îant cornerstone for the Company's long-term stable development. The Company strictly complies with the Anti-MoneyLaundering Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and other laws, regulationsand normative requirements. The Company has formulated internal policies such as the Regulations on Employees' Integrity Practice and theBusiness Ethics Policy, to enhance business ethics management. In 2024, the Company revised the Regulations on Employees' Integrity Practice. The

revision not only emphasizes that the Company's employees shall resolutely refuse to accept or exchange any form of bene®êts from or withstakeholders, but also fu®îher de®ênes the punishment standards for employees' violation of the integrity policies. The Company strictly regulatesthe conduct of employees and urging them to consciously abide by social and professional ethics. We adhere to compliant operation and faircompetition, prohibit any form of commercial bribe®ñ, money laundering and monopoly. The Company expressly prohibits employees fromengaging in any activity that may constitute an unfair competition, such as business deformation, false publicity, and improper acquisition or useof business oppo®îunities. Moreover, we strictly require all employees and suppliers to abide by business ethics. During the year, the Company didnot experience any litigation or signi®êcant administrative penalties resulting from commercial bribe®ñ, corruption or unfair competition.

Business Ethics Management

With great impo®îance attached to information disclosure management, we strictly comply with relevant regulato®ñ requirements,and actively ful®êl our disclosure obligations, to ensure the compliance and transparency of information disclosure. We haveformulated internal information disclosure management systems such as the Management System for Information DisclosureA®­airs, the Information Insider Registration Management System, and the Accountability System for Major Errors in InformationDisclosure in Annual Repo®¸s, and prepared the Speci®´cation for Announcement Format to regulate information disclosurestandards and repo®îing procedures and ensure that the information disclosed is true, accurate, and complete. In 2024, there wereno major negative repo®îs or doubts about corporate social responsibility in the public media. For details of the Company's pro®êtdistribution, please refer to the 2024 Annual Repo®¸. In the future, the Company will continue to improve the quality of informationdisclosure and regulate operations. Moreover, the Company will enhance the relationship with the capital market through fair andtransparent communication, to give back to investors in gratitude for their trust and suppo®î.

Information Disclosure Management

We always adhere to the idea of ¡°respecting and rewarding investors¡±. We have formulated the Investor Relations ManagementSystem and appointed dedicated management personnel to continuously optimize the investor relationship management. Wee®ãectively safeguard the rights and interests of investors through multi-channel and holistic communication and interaction withinvestors. The Company regularly hosts pe®íormance brie®êngs and Investor Reception Day events, collaborates with institutions foron-site research, convenes teleconferences, and actively pa®îicipates in collective Investor Reception Day events in the jurisdictionand institutional investment strategy summits. The Company has set up an investor hotline and responds to investors' enquiriesthrough the Shenzhen Stock Exchange's IRM platform to ensure daily communication with investors. Through practical andsu®æcient communication and dialogues, the Company has built a positive image in the capital market and deepened the capitalmarket's understanding of the Company.

Investor Relations Management

Inspection Depa®îment

It takes the lead in the speci®êc anti-corruptionmanagement and the building of a clean enterprise;By conducting business ethics audits, it assesses thepe®íormance of Rongsheng Petrochemical and itssubsidiaries in business ethics and enforcesaccountability accordingly.It regularly repo®îs the progress of business ethicsmanagement to the Strategy and ESG Committeeand the Audit Committee.

Chaired by the Chairman of the Board ofDirectors, the committee is fully responsible forsupe®ïising business ethics and anti-corruptionmatters, holds regular meetings to formulate andimplement work policies related to businessethics, receives repo®îs from management onbusiness ethics risks and correspondingmeasures, and conducts timely reviews of overallwork progress.

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OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

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025026

The Company constantly improves its internal supe®ïision system and regularly studies and deploys key business ethics tasks through annualall-employee audits, to achieve full coverage of business ethics audits of the Directors, Supe®ïisors, senior management and all employees withinthe Company. The work plan for audit is arranged in 3 stages of ¡°Planning and preparation - Implementation and repo®îing - Feedback andreevaluation¡± as detailed below:

During the repo®îing period, the Inspection Depa®îment completed24 audit projects across all operating sites and business

lines of Rongsheng Petrochemical and its subsidiaries , and held 20 individuals accountable.

We will continue to push forward the recti®êcation.

100%of the ®êndings recti®êedwith6auditrepo®îs issuedaudits focused on business ethics andanti-corruption6 audits

Improving Audit Procedures

InspectionDepa®îment

Entity beinginspectedPlanning andpreparation stage

Implementationand repo®îing stage

Feedback andreevaluation stage

Formulate work plan andsubmit it to the Chairmanof the Board for approval

Rongsheng Holding and

its subsidiaries

Organize specializedinspection

Key projects andrepo®îed information

Verify recti®êcation

outcomesRecapitulate inspections

conducted this year

Issue inspection repo®îand provide suggestions for

recti®êcation

Repo®î recti®êcation

outcomesIncluded in annualappraisal of subsidiaries

Implementrecti®êcation

ProcurementSalesProductionTechnologySafety & EnvironmentHuman ResourcesBusiness EthicsOther relevant issuesScope of inspection

The Inspection Depa®îment formulates the annual audit work plan at the beginning of each year and submits it to theChairman of the Board of Director for approval. The scope of audit covers procurement, sales, production, technology,safety and environment, human resources, business ethics and other aspects of Rongsheng Petrochemical and itssubsidiaries. The Inspection Depa®îment arranges the audit projects based on the annual work plan, formulates the workproposals, assigns the auditors and de®ênes audit period. In addition, it also determines the entities to be audited, ensuringthat all operating sites and business lines of Rongsheng Petrochemical and its subsidiaries receive audits includingbusiness ethics audits at least once a year. In pa®îicular, we set the standards and plan for the business ethics audit basedon the Business Ethics Policy of Rongsheng Petrochemical, to ensure the implementation e®ãectiveness of the policy.

2024

Diagram of Inspection Procedures

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Planning and preparation stage

The Inspection Depa®îment carries out regular audits, including business ethics audit, in accordance with the work plan,and organizes special business ethics audit of the Company's key projects or whistleblowing information. After completingthe business ethics audit, the Company will promptly issue an audit repo®î and put forward suggestions for managementoptimization. If any issue to be recti®êed is found in the business ethics audit, the relevant subsidia®ñ is required to rectifythe issue in a timely manner and subject to the progress tracking inspection of the Audit Depa®îment.

Implementation and repo®îing stage

The Inspection Depa®îment re-inspect the implementation of the recti®êcation measures upon receiving the feedbackfrom the inspected entities on the recti®êcation of their business ethics issues. It summarizes the results of annual businessethics audits at the end of each year and submits the results to the meetings of the Board of Directors and the Board ofSupe®ïisors of Rongsheng Holding under the supe®ïision of the Strategy and ESG Committee. Rongsheng Petrochemicaland its subsidiaries are required to complete a special pe®íormance evaluation in respect of business ethics issues eve®ñyear, with the evaluation results incorporated in the annual assessment of each subsidia®ñ.

Feedback and reevaluation stage

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027028

Guided by the Company's Business Ethics Policy and other policies, we have established a robust business ethics training system, and strictly car®ñ outall training tasks. In addition to requiring Directors, Supe®ïisors, senior management and all employees to complete internal business ethics andanti-corruption training annually, the Company also completes various external training on business ethics in accordance with regulato®ñ requirements.During the year, anti-bribe®ñ and anti-corruption training covered 19,077 sta®ãs, which includes 371 management o®æcers and 9 directors.In 2024, the Directors of the Company pa®îicipated in two training sessions organized by the Company and one training session organized byChina Association for Public Companies, respectively, and the training sessions covered business ethics, insider trading and other related issues;The Company arranged annual training on integrity for middle and senior technical management personnel and employees in key positions. Weinvited prosecutors from People's Procuratorate of Daishan County of Zhoushan to share typical cases of clean practices, and a total of morethan one thousand people attended the sharing on site or watched the live-streaming online;The Company conducted training on business ethics for all employees. All employees of Rongsheng Holding and its subsidiaries (includingpa®î-time and dispatched employees) watched a training video about integrity education through the WeChat o®æcial account ¡°Rongshenge-O®æce¡±. This move fu®îher improved the overall business ethics of our employees and helped them form correct occupational values.

Business Ethics Training

To regulate the pe®íormance of duties and promote ethical practice, the Company has established an integrity repo®îing mechanism to receiveand process repo®îs from employees and the public. We accept repo®îs on corruption, fraud, neglect of duty, and behaviors that harm our regularproduction, operation, and management activities.

The Company's Inspection Depa®îment is in charge of the work related to repo®îing on integrity. The Inspection Depa®îment assigned dedicatedpersonnel to manage the Repo®îing Platform and assembled a repo®î handling group. After receiving a repo®î, the repo®î handling groupconducts prelimina®ñ analysis and judgement, and categorizes the repo®î according to the scope of inspection, the nature of the matter, degreeand the severity of the violation, and whether the Inspection Depa®îment is able to investigate. The investigation task force will provide theiropinions after the prelimina®ñ assessment, and the results will be delivered to the whistleblower promptly. For any updates in the future, we willcommunicate with the whistleblower to provide more feedback.

The Company strictly prevents the leakage of repo®îing information, and implements the whistleblower protection mechanism. The Company hasformulated the Requirements for Repo®¸ing Con®´dentiality and Whistleblower Protection, and the Human Resources Management Regulations,specifying the principle of handling the repo®îed issues, and measures for repo®îing con®êdentiality and whistleblower protection. We strictlyprohibit all forms of retaliation. Once any retaliation behavior is found, it will be strictly handled in accordance with the Implementation Measuresfor Rewards and Punishments for Employees of Rongsheng Holding Group Headqua®¸ers. Access to the information about the whistleblowers andcontents of their repo®î are limited to the Inspection Depa®îment internally. If the repo®î involves signi®êcant matters, its access will be limited to theinvestigation task force. We aim to protect the whistleblower and their close relatives at the source of information.

Repo®îing Mechanism

Repo®îing Approaches

Repo®îrecipient

Repo®îregistrar

Repo®îhandling group

Responsibledepa®îment(s)

Repo®îregistrar

Investigation

task force

ArchivingGiving feedback on the handling result

Whistleblower

Repo®îing process

2 Suppliers of the Company's procurement and sales business mainly pa®îicipate in quotations and bidding through the Rongsheng e-commerce platform.

Business ethics education and training

We require all suppliers and customers who pa®îicipate in the quoting and bidding activities on the e-commerce platform2 to sign the RongshengHolding E-Commerce Platform Letter of Commitment in advance, which includes the Company's integrity requirements for suppliers, theiremployees and customers. Meanwhile, by adding in the supplier contracts the business ethics management requirements and feedback channelsfor supe®ïision and repo®îing, the Company makes clear the business ethics management requirements to suppliers, and identi®êes business ethicsissues in a timely manner. In 2024, the Company improved the clauses of prohibiting commercial bribe®ñ in the supplier contract template, andadded the Supplier Commitment Letter on Integrity and Self-Discipline, to fu®îher clarify the Company's standards for suppliers' business ethics.

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Handling according tointernal procedures(following up if necessa®ñ)Investigating and handling therepo®îed matter and releasingthe investigation repo®îDiscussing how tohandle the repo®îedmatterRegisteringthe repo®îReceivingthe repo®îSubmittingthe repo®î

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HotlineVisiting ReceptionE-mailWeChatMailing

029030

Always upholding the green development philosophy, the Company viewsenvironmental protection as the foundation of our sustainable development. Inaddition to ensuring environmental compliance, we explore carbon reduction,emission reduction, and resource management measures and actively respond toclimate change to ful®êll corporate responsibility for environmental protection. Withinthe repo®îing period, we did not experience any major environmental protectionaccidents, major complaints regarding environmental protection, major environmentaladministrative penalties, or any other environmental issues, and no signi®êcant impacthas been caused to employees, local community residents, or other stakeholders.

Conse®ïing Ecology andUnleashing Green Potential

031032

Each year, the Company develops training plan on environmental management to enhance the capabilities of the Strategy and ESGCommittee and the management sta®ãs for overseeing the environmental management. These capabilities mainly include:

In accordance with the Professional Assessment Rules for HSE Management and other environmental pe®íormance assessment policies of theCompany, we have established a target responsibility system and a pe®íormance assessment system, linking environmental pe®íormance withmanagers' remuneration. In addition, we inspect and assess each depa®îment monthly for purpose of implementing the Company's supe®ïisionand inspection.

Environmental Risk ManagementGovernance structureLevel

Governance level

The subsidiaries' progresstowards target completion iscollected and calculated on amonthly basis.

At the end of the year, cashrewards will be granted basedon the appraisal results.

Management level

Execution level

Role

Be possessed of the knowledge of methods and tools for assessing environment-related risks and oppo®îunities toassess the impact of environmental factors on the Company's production and operations and the externalenvironment, and formulate risk and oppo®îunity management plans.Environmental riskassessment andmanagement ability

Formulate and implement action plans for pollutant reduction targets, environmental protection technologydevelopment, resource e®æciency improvement and adaptation to environmental changes, and be possessed of theexpe®îise in environmental management.Ability to plan andimplementenvironmental strategy

Communicate and exchange information with all levels within the Company and external stakeholders onenvironmental issues, and cooperate with external institutes to promote the Company's sustainable developmentprojects, ensure the suppo®î and coordination for action plans, and jointly push ahead environmental targets.Ability to communicateand coordinateenvironmental issues

The Company continues to improve its environment management system to meet compliance requirements and the needs of green developmentof the Company. We strictly abide by the Environmental Protection Law of the People's Republic of China, the Law of the People's Republic of Chinaon Environmental Impact Assessment and other laws and regulations. Based on the characteristics of their operation, each subsidia®ñ hasdeveloped internal policies including the Environmental Protection Management Accountability, the Management Measures for EnvironmentalProtection Facilities, and the Plan for Environmental Emergencies to e®ãectively manage and limit their impact on the environment. We strive to builda resource-conse®ïing and environment-friendly green enterprise.

Enhancing Environment Management

Be possessed of the expe®îise in environmental science, pollution control and other disciplines, and knowledge ofdomestic and international environmental protection policies and regulations.

Type of capabilityExpe®îise in environmentalmanagement

Description

Each subsidia®ñ determines theassessment indicators, includingwater, electricity, steam and otherresource and energy consumptiondata, as well as waste gas,wastewater and other complianceemission data.

TargetSetting

RegularAssessments

Pe®íormance

Rewards

Process of environmental pe®íormance assessment

Setting annual targets, work plan and management evaluation plan in respect of environmental management;Building and improving the framework of environmental management policies;Organizing the development of the Company's plan for environmental emergencies and car®ñing out the Company'semergency drills;Reviewing environmental hazards and the implementation of preventive measures;Improving the Company's supe®ïision and inspection system for environmental management and car®ñing outsupe®ïision;Regularly repo®îing to the governance level on environmental management.

The daily management of environmental protection;Routine environmental monitoring, and contingent monitoring for emergencies and projects;Investigating and analyzing abnormal data and taking corrective measures;Repo®îing the results of environmental protection e®ão®îs to management.

Reviewing and supe®ïising the Company's strategic planning, policy formulation, target setting and implementationmanagement in respect of environmental protection;Reviewing and supe®ïising the Company's environmental risk assessment, environmental pe®íormance,environmental information disclosure and other related matters;Ensuring that the Company's management of environmental risks and oppo®îunities is in line with the strategicdirection, regulato®ñ requirements and stakeholder expectations.

The Strategy and ESG Committee is responsible for:

The HSE Management Group/HSE Committee is responsible for:

The executive level of the Company is responsible for:

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Risk ManagementEach subsidia®ñ regularly identi®êes and assesses environmental risks and oppo®îunities. The environmental risk identi®êcation and assessment arecarried out in line with the relevant provisions of Environmental Management Systems (GB/T 24001-2016). In addition, the Management Procedurefor Environmental Factor Identi®´cation and Risk Evaluation has been established. A cross-functional team consisting of professionals with richexperience in environmental factor evaluation and production management carries out relevant work. We identify the environmental factors in ourproducts and se®ïices. Subsequently, based on the environmental impacts, we calculate the quantity of risk substances and assess the productionprocesses, the discharge points of each pollution source, environmental risk control level, and preventive and control measures. Fu®îhermore, weevaluate the objects a®ãected by environmental risks and oppo®îunities by means of environmental factor questionnaires, production processanalysis and material balance analysis. By doing so, we determine the levels of environmental risks and oppo®îunities, and take relevant preventiveand emergency response measures for environmental risks and oppo®îunities. Meanwhile, we prepare the Assessment Repo®¸ on EnvironmentalRisks and Oppo®¸unities, which is used as a guide for the Company's management of environmental risks and oppo®îunities.The cross-functional team of each subsidia®ñ establishes a risk and oppo®îunity matrix based on the likelihood of occurrence and impactmagnitude of risks and oppo®îunities. The cross-functional team determines the risk coe®æcients, to qualitatively classify the identi®êed risks andoppo®îunities. When determining the risk coe®æcients, the cross-functional team assesses the likelihood of occurrence of impacts, risks andoppo®îunities related to environmental management based on historical data and indust®ñ experience, while measuring the severity of theimpacts of these risks and oppo®îunities in view of ®ênance, operations and reputation.

Metrics and Targets

After identifying the risks and oppo®îunities in environmental management, the Company de®ênes the prima®ñ depa®îment of responsibilities andformulates corresponding management measures or action plans, such as developing management system, upgrading metric measurement,setting environmental targets, de®êning production operation procedures, planning technology upgrading or plant renovation projects, andevaluating the e®ãectiveness of countermeasures or plans. The HSE management team or HSE committee at the management level of eachsubsidia®ñ de®ênes the timeline for the implementation of management measures or action plans, regularly evaluates the results of the work andprovides guidance on the implementation of the measures and plans. For detailed metrics and targets, please refer to Section "ControllingPollutant Discharge" and "Main Environmental Pe®íormance Indicatorsin" in this Chapter.

Response Strategy

Rongsheng Petrochemical's production processes maygenerate pollutants or waste such as exhaust gas andwastewater, which need to be disposed of properly.Violation of relevant laws and regulations may incurcompliance and pollutant disposal costs, or legal costs maybe incurred by litigation, with the Company's reputationimpaired.

Strengthen environmental monitoring£º

Rongsheng Petrochemical tracks the emission of various pollutants in realtime by building an integrated environmental monitoring system to ensurethe compliance of operations with laws and regulations, and takes promptmeasures for excessive emissions to reduce environmental impacts;Strengthen compliance managementEstablish a robust environmental compliance management system toensure that production activities comply with the latest environmentalregulations, thus reducing costs and legal risks arising fromnon-compliance.

Risks

Rongsheng Petrochemical can actively manage thegeneration and disposal of various pollutants and wastesthrough technological improvement or other strategies, whichmay reduce the Company's exposure to government policieson environmental protection and lower compliance costs.

Policy utilizationKeep abreast of government incentives in environmental protection,such as tax incentives and subsidies, and promptly adjust theCompany's strategies to take full advantage of these policies.Develop circular economy that gives full play to resources,to reduce Rongsheng Petrochemical's production andoperation costs, or generate additional bene®êts.

Technological innovationInvest in R&D and introduce advanced environmental protectiontechnologies to improve the e®æciency of pollutant treatment and reducewaste generation, while exploring more ways of waste recycling.Collaboration projectsWork with research institutes, universities and pa®îners in the indust®ñ tocar®ñ out environmental protection projects, share resources andknowledge, and step up the innovation and application of environmentalprotection technologies.

Description of major environmentalmanagement risks and oppo®îunities

Response measures and key ®ênancial impacts

Oppo®îunities

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The Company attaches great impo®îance to the proper operation of the environmental management system. In accordance with the requirementsof the ISO 14001 Environmental Management System, the Company has established its environmental management policy, de®êned depa®îmentalresponsibilities, promoted environmental management measures, improved the environmental emergency response plan, and clari®êed thepe®íormance assessment requirements for environmental management. The Company conducts annual full-process environmental audits at alloperational sites, cooperating with internal audit expe®î teams to inspect production site environments, waste generated during productionprocesses, and the operation status of environmental protection facilities. Identi®êed issues are recti®êed through closed-loop corrective actions.Meanwhile, the Company continues to advance the ce®îi®êcation of its environmental management system. 86% of our subsidiaries in operation haveobtained ISO 14001 Environmental Management System ce®îi®êcate. Companies that have obtained ISO 14001 ce®îi®êcation undergo 1-2professional third-pa®îy environmental compliance audits annually to fu®îher ensure the sound operation of the environmental managementsystem.

For the conse®ïation and e®ãective utilization of resources, acceleration of industrial structure adjustment, and the rational allocation of productionfactors, the Company controls the impact of its projects on the surrounding ecological environment through systematic environmental impactassessment. We incorporate environmental factor identi®êcation and environmental monitoring throughout the project design, construction, andoperation processes. We have also submitted our environmental monitoring data and environmental impact assessment results to relevantgovernment agencies promptly to urge ourselves to continuously advance our environmental management and data system construction. All ofour new construction, renovation, and expansion projects have passed environmental impact assessments, which cover environmental hazards,ecological impact assessments, water and air quality analysis, and noise monitoring.The Company actively cooperates with the national, provincial and municipal bureaus of ecology and environment on external environmentinspection, recti®êes identi®êed issues promptly and investigates for similar ones. The HSE Depa®îment veri®êes the outcome of recti®êcation and thenrepo®îs to the administrative authority on ecology and environment.The Company formulates internal inspection plans and conducts internal environment inspections which focus on aspects such as the operation ofenvironmental protection facilities, the compliance of the discharge of ¡°three wastes3¡±, and the operation of the environment-emergency-relatedfacilities. Each subsidia®ñ arranges environmental inspections of di®ãerent frequencies and a comprehensive environmental emergency drillannually in light of the impo®îance of equipment, facilities, and production processes to improve environment management by combining internaland external checks.In addition, in accordance with the requirements of the Emission Permit, the Company develops the environmental monitoring plan andimplements environmental monitoring. Moreover, for key pollution sources, the Company installs automatic online monitoring systems, to realizeonline monitoring and interconnection with government platforms. We regularly record pollution source monitoring data, prepare the repo®î onthe implementation of the emission permit, and disclose environmental information to the society, accepting the supe®ïision of the government,the public and related pa®îies.

ZPC continues to conduct internal and external system audits. In 2024, ZPC's Internal Audit Depa®îment conducted a one-week internalaudit of quality, environment and occupational health and safety management systems. The Internal Audit Depa®îment required therelevant depa®îments to car®ñ out recti®êcation work in view of the problems found at the scene. After completing the recti®êcation, ZPCprepared the internal audit repo®î as required by the Company's QES management system based on the results of the internal auditand the recti®êcation, which was used as the basis for management pe®íormance review. In addition, ZPC engaged Beijing Sanxing 9000Ce®îi®êcation Body Co., Ltd. to conduct external audit and successfully passed the external supe®ïision and audit this year.

Environmental Management System

Environmental Impact Assessment and Audit

Attaching great impo®îance to ecological environment protection, Rongsheng Petrochemical spares no e®ão®îs to realize a harmonious coexistenceof industrial development and ecological environment protection, contributing to the construction of a green and sustainable industrial park. TheCompany is located in an industrial park. The environmental assessment demonstrates that our operations do not cause signi®êcant impact on thesurrounding ecosystem and biodiversity. When taking water from/discharging wastewater to the sea, the Company strictly follows therequirements of the environmental assessment. We accurately calculate the possible biological losses during the seawater intake process bysu®ïeying the density of the ®êsh population, and take corresponding biological compensation measures accordingly. Eve®ñ year, the Companycarries out breeding and releasing activities to replenish and recover marine biological resources, ensuring the stability and sustainability ofecological protection measures.

Ecological Environment Protection

ZPC conducted integrated management system auditCase

ZPC develops the HSE training plan on an annual basis. This year, ZPC carried out a string of training sessions on environmentalprotection, such as the Training on Environmental Statistics and Law-Abiding Disclosure of Corporate Environmental Information, theTraining on Clean Production Proposal Selection and Feasibility Analysis Capability Enhancement, and the Training on Industrial SolidWaste Management Capacity Enhancement. With a duration of approximately 6 hours, these training sessions covered a total of 115people, enhancing the professional competence of environmental management sta®ã.

ZPC HSE trainingCase

100%

100%100%

Environmentalprotectioninvestment

Propo®îion of noisecontrolled up to thestandard

Coverage ofenvironmentalprotection training

million RMB

3 Including wastewater, waste gas and solid waste.Environmental management system ce®îi®êcates obtained by the Company and some of its subsidiaries

2024

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

272.73

Number of majorenvironmental pollutionaccident

Propo®îion ofpollutant discharge upto the standardcase

2024

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RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

037038

As a leading enterprise in the petrochemical indust®ñ, the Company is deeply aware that it bears greater obligation to respond to climate changeand the national strategic deployment of ¡°carbon peaking and carbon neutrality¡± goals. The Company actively adopts e®ãective carbonmanagement measures, continuously develops carbon reduction initiatives at the plants, and explores ways of carbon utilization, contributing tothe achievement of the national ¡°carbon peaking and carbon neutrality¡± goals and the ful®êllment of its environmental responsibility.

Each subsidia®ñ of the Company has set up a climate-related leading group at management level, with the general manager and the relevantdepa®îment heads se®ïing as the group leader and the group members respectively. Based on the carbon reduction requirements of the chemicalindust®ñ, the ¡°carbon peaking and carbon neutrality¡± action plans of the provinces and municipalities where the Company operates, the layout ofthe Company's industrial po®îfolio, and the innovative carbon emission management technologies, the leading group coordinates the planning,implementation, evaluation and supe®ïision of climate-related tasks, and repo®îs to the Strategy and ESG Committee on a regular basis.At the execution level, the Company de®ênes responsibilities and tasks in response to climate change for relevant depa®îments and subsidiaries,requiring them to break down the Company's carbon emission management goals into their own work objectives and task lists to car®ñ out keyinitiatives. They are required to repo®î regularly to the leading group the information on achievements and progress of climate-related initiatives,updates of GHG emissions data, emerging low-carbon technologies, and monitoring and early warning of disasters.

The Company engages external professional consultants with climate expe®îise to advise on management of climate-related risks andoppo®îunities and provide relevant training, in an e®ão®î to improve the capabilities of the Strategy and ESG Committee and management inoversight and management of climate-related initiatives. The capabilities mainly include:

Response to Climate Change

As a pillar indust®ñ of the national economy, the petrochemical indust®ñ faces a number of challenges in response to climate change, such aspressure on carbon emission, market volatility and the complexity of resource management arising from energy transition. However, technologicalinnovation and clean energy development bring new oppo®îunities to the petrochemical indust®ñ. Under this macro situation, RongshengPetrochemical needs to comprehensively assess the impact of its business on climate change and identify the risks and oppo®îunities in order toachieve sustainable development and contribute to the green and low-carbon transition of the indust®ñ.

Response Strategy

Be possessed of the expe®îise in environmental science, energy management, etc., and knowledge ofdomestic and international policies and regulations on climate change.Type of capabilityExpe®îise in climate-related disciplines

Apply risk and oppo®îunity assessment tools to pe®íorm in-depth analysis on impacts of climate changeon the operations and external environment of the Company, and formulate targeted risk andoppo®îunity management strategies.

Risk assessment andmanagement capability

Set and implement emission reduction targets based on the Company's existing business and future plan;actively promote the development of low-carbon technologies; strive to improve energy e®æciency; andcreate action plans for adaptation to climate change.

Strategy planning andexecution capability

E®ãectively communicate and share information with all levels of employees within the Company andexternal stakeholders on climate-related issues, to win the suppo®î and collaboration of all pa®îiesinvolved for the action plans. Actively cooperate with external organizations to promote the Company'ssustainable development projects, and work together with them to achieve climate targets.Communication andcoordination capability

Description

Type of impact and descriptionResponse strategyNegativeimpact

GHGemissions

Chemical production generallyleads to high energy consumptionand high GHG emissions and mayaccelerate global warming, whilece®îain production processesfeaturing high energyconsumption will also poseadverse impact on theenvironment.Promote the low-carbontransition of the indust®ñ bysetting carbon emission targets,investing in renewable energyand exploring low-carbontechnologies.

Positiveimpact

Energy audit and e®æciency improvement: Reduce energy

consumption and GHG emissions by conducting energy audit, re®êningproduction processes, phasing out high energy consumption equipment,and introducing energy-saving technologies and equipment.

Energy recove®ñ: Promote thermal recove®ñ system to save energy.Clean energy substitution: Gradually replace the fossil fuels used in

production and operation with renewable energy (e.g., wind energy andsolar energy) to reduce GHG emissions.Carbon emission monitoring and repo®îing: Strengthen monitoringand management of GHG emissions to ensure compliance with environ-mental protection standards.Applicationof cleantechnology

Governance

Level

Management

LevelExecutionLevel

Climate-related

leading groupRelevant depa®îments

Board of DirectorsStrategy and ESG

Committee

Climate governance structure

The Strategy and ESG Committee under the Board of Directors of theCompany oversees the Company's ESG governance practices andpe®íormance, including climate change issues. In addition, thecommittee reviews the Company's climate-related objectives andstrategies, and evaluates and monitors the management of impacts,risks and oppo®îunities related to climate change, the progresstoward climate-related targets and the implementation of relatede®ão®îs. The committee conveys meeting at least once a year to hearmanagement's repo®î on management of impacts, risks andoppo®îunities related to climate change, and makes suggestions. Thecommittee takes the above responsibilities to ensure that theCompany's climate change response strategy is aligned with theCompany's strategic orientation, regulato®ñ requirements andstakeholder expectations.

Governance Structure

Repo®îingpath

Major climate-related impacts and response strategies

Setting emission reduction targets:

Set clear carbon emission targets,and reduce CO? emissions by adjusting business model and investing inrenewable energy projects.Exploring low-carbon technologies: Continuously invest in R&D,

promote low-carbon production process, actively deploy CCUS, andexplore CO? removal technologies.Cross-®êeld cooperation: Car®ñ out cross-®êeld cooperation withresearch institutes and universities on innovation of technology andproduction model in relation to low carbon and clean energy, to acceleratelow-carbon business transition.

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039040

With reference to the shared socio-economic pathway (SSP) scenario and the Network for Greening the Financial System (NGFS) scenario set outin the Sixth Assessment Repo®î of the Intergovernmental Panel on Climate Change (IPCC AR6), the Company assesses its resilience to climatechange in the sho®î, medium and long term in respect of corporate strategy, business model and other aspects.The major climate-related risks and oppo®îunities identi®êed by the Company and our response strategies are set out in the following table.

Type of risk anddescription

Transition riskPolicy risk (long-term)

Technology risk

(long-term)

Market risk (long-term)As the government continues to imposestricter environmental protection policiesand emission reduction targets, theCompany needs to adapt to the policychanges and invest in equipmentrenovation and technological upgrades tomeet the compliance requirements.Otherwise, the Company may face the risksof ®ênes and production restrictions.

With the rapiddevelopment oflow-carbon technologies,the Company needs toseek technologicalinnovation andtransformation, otherwisethe Company may be putat a competitivedisadvantage in themarket.Riskexposureunderdi®ãerentscenarioassumptions

Riskexposureunderdi®ãerentscenarioassumptions2030LowLowLow2050LowMediumMedium2060MediumMediumHigh2030MediumMediumMedium2050HighHighHigh2060HighHighHigh

Response strategy

Explore energy-savingtechnology innovation,join hands with externalpa®îners to promotescienti®êc andtechnologicalcooperation, andoptimize the allocation ofR&D resources to controlR&D costs.

As climate change drives customers to paymore attention to the Company'senvironmental pro®êle and the sustainabilityof the products, the Company needs toadjust the products and se®ïices to meetmarket demands. In addition, theCompany's failure to meet the expectationsof capital market and other majorstakeholders in terms of response toclimate change may pose negative impacton our brand and reputation.

¡ñ

¡ñ

Optimize the business po®îfolio ofhigh-end new chemical materials andnew energy, promote industrialupgrading, and vigorously expandpresence in high value-addedproducts such as photovoltaicmaterials, engineering plastics, anddegradable plastics to meet the marketdemands for clean energy productsand se®ïices.Strengthen communication withstakeholders.

¡ñ

¡ñ

Continuously pay attention to the updateof policies and regulations to ensure thatthe Company's operation is in line withthe latest requirements; vigorouslypromote energy saving and consumptionreduction, and accelerate the deploymentin the ®êeld of renewable energy.Plan for our business in the carbontrading market in advance to ensure ourcompliance during contract pe®íormance.

Type of risk anddescription

Physical riskAcute risk (sho®î-term)Chronic risk (long-term)Extreme weather event riskFloods and typhoons may damagefactories, production lines or criticalfacilities and inventories, and causesigni®êcant impact on the Company'sproduction and operation, resulting indirect economic losses due toproduction interruptions, and costs onrepairing facilities and resumingproduction.

Supply chain disruption riskNatural disasters can damagetranspo®îation infrastructure, a®ãectlogistics and transpo®îation, andcause di®æculties in supplying rawmaterial and marketing products.For instance, as the Company's mainlogistics channel is shipping,typhoon disaster may bringdi®æculties for the upstreamsuppliers to deliver raw material andfor us to deliver products, which willresult in the Company's sho®îage ofraw materials and failure to deliverproducts in time and, accordingly,impact the Company's productionand operation.

Operational riskHigher or lower average temperaturesand sea level rise may result in higheroperating costs, damage toequipment and facilities, or highertemperature maintenance costs toprese®ïe speci®êc chemicals; andprolonged droughts may result ininsu®æcient water supplies and a®ãectbusiness operations.

Optimize the site selection strategy,give full consideration to climaticfactors, and avoid laying out newprojects in high-risk areas.Upgrade refrigeration equipmentand temperature control system toprovide a stable temperatureenvironment.Enhance facility design standards,such as the construction of coastaland riverine dykes, or wave walls, toimprove the disaster resilience offactories and equipment to reducethe impact of sea level rise onoperations.Improve water resourcemanagement planning, optimizesupply chain layout, and enhanceresilience to climate risks such asprolonged drought, so as to ensurethe stability of business operations.

Highemissionscenarios

2030LowLow2050LowLow2060LowLow2030LowLow2050LowLow2060LowLow

LowMediumMediumLowLowLow

Response strategy

Major climate-related risks and response strategies

¡ñ

¡ñ

¡ñ

¡ñ

Formulate policies such as theManagement Policy on Prevention ofFlood, Typhoon and Draught and theEmergency Response Plan forPrevention of Flood, Typhoon andDraught, car®ñ out comprehensiverisk su®ïey for extreme weather suchas ®ìoods and typhoons, formulateemergency response plan, andorganize regular emergency drills toenhance the risk response capabilityof employees.Optimize the layout of facilities,enhance ®ìood and typhoonprevention designs, and reinforcecritical equipment to reduce theimpact of extreme weather onfactories and production lines.Develop distributed energy storagesystem, and use uninterruptiblepower supply (UPS), emergencypower supply, and diesel generatorsto power equipment and otherelectric appliances that requireuninterrupted power supply.Engage insurance company toconduct insurance due diligence,issue risk su®ïey repo®î and purchasenecessa®ñ commercial insurance.

¡ñ

¡ñ

¡ñ

Strengthen long-termcooperation with suppliers,establish a diversi®êed suppliersystem and reduce dependenceon a single supplier.Apply digital technology toenhance supply chainvisualization, and monitorlogistics and invento®ñ status inreal time to cope with the impactof natural disasters and otheremergencies on logistics and rawmaterial supply.Develop invento®ñ managementmechanism and establish backupstock to ensure that productioncan be maintained in the event ofsupply chain disruptions.

¡ñ¡ñ¡ñ

¡ñ

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

HighemissionscenariosLowemissionscenarios

Lowemissionscenarios

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RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Type ofoppo®îunityand description

Resource e®æciency(long-term)

Market(long-term)

Energy source(long-term)

Incentive policy(long-term)

Wide used moreenergy-e®æcientequipment and buildingsas well as low-carbon,environmentally friendlygreen technologies.

Increase R&D e®ão®îs in the®êeld of low-carbon andenvironmentally friendlytechnologies and launchlow-carbon andenergy-saving productsthat meet environmentalrequirements to meet themarket demand.

With the growingdemand for clean energy,the Company can investin and develop newenergy projects (e.g. solarenergy and wind energy).

Government policy encouragescorporate innovation. If theCompany adopts moreenvironmentally friendly ande®æcient operating methods ordevelops new energy-saving andlow-carbon production projects,the Company could have theoppo®îunity to receivegovernment subsidy, taxpreference and other incentivepolicy suppo®î, thereby reducingoperating costs and improvingpro®êtability.2030LowLowLow2050LowLowMedium2060MediumMediumHigh2030MediumMediumMedium2050HighHighHigh2060HighHighHigh

LowMediumMediumMediumHighHigh

Response strategy

Actively expand ourpresence in the newenergy ®êeld, increaseinvestment in the R&D ofclean energytechnologies, and explorethe development andapplication of renewableenergy sources such assolar energy and windenergy.

Actively seek oppo®îunities tointegrate environmentallyfriendly and e®æcient operationsand new energy-saving andlow-carbon production projectswith policy suppo®î, to obtainincentives such as governmentsubsidy and tax preference.

Continuously re®êne the production process toenhance the e®æciency of resource utilization.Increase R&D investments, and establish cooperativealliances with other enterprises and research institutesto jointly car®ñ out climate change-related technologyR&D, project promotion, etc. Develop new low-carbonand energy-saving products that meet environmentalprotection requirements, so as to meet the marketdemand and improve the competitiveness of products,e.g. the release of rare-ea®îh rubber products.Seize market oppo®îunities by making strategicinvestments in green industries and low-carbontechnologies with potential, such as investing in theconstruction of solar power stations and electricvehicle charging facilities.

¡ñ

¡ñ

¡ñ

Major climate-related oppo®îunities and response strategies

Oppo®îunityexposureunderdi®ãerentscenarioassumptions

HighemissionscenariosLowemissionscenarios

The foregoing are forward-looking statements and do not represent guarantees or predictions of future pe®íormance. When developing theseplans, the Company has considered a variety of unce®îainties, including but not limited to economic conditions, laws and regulations, marketdynamics, geopolitics, and climate patterns. These factors may be a®ãected by limitations in data sources and assessment methods, as well as otherunforeseen unce®îainties and subjective judgments.

Rongsheng Petrochemical incorporates climate change-related risks into its comprehensive risk management system, regularly identifying andanalyzing risks to comprehensively strengthen climate risk management.The Company determines the types of risks related to climate change with both qualitative and quantitative methods. A list of climate change risksis formed based on the Company's management processes for the identi®êcation, assessment, prioritization, response and monitoring ofsustainability impacts, risks and oppo®îunities. Then, the Company determines risk response strategies and management plans based on the risklist. The Company will continuously monitor and assess the management of climate risks.The Company has set up a cross-functional team consisting of environmental expe®îs, risk analysts, ®ênancial sta®ã, business unit representatives,etc., to draw on knowledge and experience from various disciplines to comprehensively identify climate change-related impacts, risks andoppo®îunities. We pe®íorm qualitative and quantitative assessments to identify climate-related risks and oppo®îunities following the steps set outbelow:

Risk Management

Qualitative AssessmentCreating Risk Matrix

The Company's cross-functional team collects and collatesinternal climate-related data such as energy consumptionand GHG emissions, and communicates with suppliers,customers, investors, communities and other stakeholders,to identify potential climate-related risks and oppo®îunitiesfrom di®ãerent perspectives. Based on the likelihood ofoccurrence and the magnitude of impact of risks andoppo®îunities, the Company creates a risk and oppo®îunitymatrix. The identi®êed risks and oppo®îunities will bequalitatively categorized after the cross-functional teamdetermines the risk coe®æcients through discussion. TheCompany assesses the probability of impacts, risks andoppo®îunities occurring within a ce®îain period of time basedon historical data, climate model projections, indust®ñexperience, etc. On this basis, the Company assesses thelikelihood of occurrence of climate-related risks andoppo®îunities. Besides, the Company measures the severityof the consequences of the climate-related risks andoppo®îunities from various aspects, such as ®ênance,operation and reputation.

We use statistical model, ®ênancial model and othermodels to conduct data simulations and stress tests withhistorical data and assumptions, and conduct quantita-tive analysis on climate change-related impacts, to assessthe Company's ®ênancial position and operationalpe®íormance under di®ãerent climate scenarios. Examplesinclude modeling the relationship between energyconsumption and carbon emission to predict changes ina Company's carbon costs under di®ãerent climatepolicies; modeling production disruption losses to assesseconomic losses due to extreme weather; and the extentto which the Company's pro®êts are a®ãected by risingwater costs in the event of successive droughts.

The Company will focus onimproving energy e®æciency andoptimizing production processes tolower operating costs and reducecarbon footprint.

Sho®î term

The Company plans todevelop renewable energyprojects and promotetechnological progress toimprove resource e®æciency.

The Company has developed response plans for the climate-related risks and oppo®îunities in the sho®î, medium and long term.

Medium term

The Company will focus on the transformation to alow-carbon economy and the expansion of its presencein new business ®êelds. At the same time, the Companywill keep abreast of updates in policies andtechnologies, and ®ìexibly adjust its strategy to cope withthe long-term challenges posed by climate change.

Long term

Quantitative AssessmentModel Data Simulation

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ZPC replaces coking unit with slur®ñ reactor toeliminate GHG generated from coking productionand decoking process, reducing 499.2 thousandtonnes of carbon dioxide in total.

ZPC has built a 200 thousand tonnes/year DMC(dimethyl carbonate) plant, and a plant recycling200 thousand tonnes of EC (ethylene carbonate )and 240 thousand tonnes of food-grade liquid CO2annually, to reuse CO2 in the emission gas togenerate products such as DMC , food-gradeliquid CO2, EC, and high-pe®íormance PC(polycarbonate ) engineering plastic .

Optimization of production processesUtilization of clean energy

Carbon emission allowanceful®êllment

Recycling of carbon dioxide

043044

To monitor the Company's progress of climate change response actions, In 2023, the Company set up GHG emissions management goals with2022 as the base year. The Company will continue to adhere to the goals to car®ñ out GHG emissions reduction, including:

To accelerate the achievement of carbon reduction goals, the Company takes active pa®î in the carbon market, lays out clean energy construction,implements carbon reduction strategy action path, and continuously carries out carbon reduction measures.

The Company closely monitors its own carbon emission and strictly manages and accounts for the emission data. Each subsidia®ñ develops GHGaccounting plan accordingly and forms an internal repo®îing mechanism. The emission data is repo®îed to the superior government authority afterbeing reviewed by the internal leader, marking the completion of annual GHG emissions repo®îing and related statistics and accounting process.The authority on ecology and environment will engage a third pa®îy to pe®íorm an on-site inspection at the Company. After the result is reviewedby the authority on ecology and environment at municipal and provincial levels, the external accounting is considered completed.

Indicators and GoalsCarbon Reduction Measures

Photovoltaic construction£º

In 2024, Rongsheng Petrochemical's subsidiariesYongsheng Technology, Shengyuan Chemical Fiber,Zhongjin Petrochemical completed PV projects. Theprojects supplied a total of 24.30 million kWh ofelectricity to the factories, reducing CO2 emissions by5,683 tonnes.

Yongsheng Technology purchased 14.99 millionkWh of green electricity.ZPC consumed a total of 2,098.43 million kWh ofo®ãshore wind power.Zhongjin Petrochemical purchased 37.43 millionkWh of green electricity, and 200 thousand greence®îi®êcates (one ce®îi®êcate for 1000 kWh).

During the repo®îing period, ZhongjinPetrochemical and Niluoshan New Energycompleted carbon emission veri®êcation.In 2024, the Company completed the clearanceof carbon emission ful®êllment for 2023, andcarried out carbon allowance trading, sellingpa®î of its surplus carbon allowance at theShanghai Environment and Energy Exchange.

20302060

Type of goalCarbon peakingCarbon neutrality

By 2025, reduce at least 3 million tonnes of carbon dioxide emission throughenergy-saving programs.Carbon dioxideemission reduction

In progressCarbon emissionintensity reduction

By 2025, reduce the Company's carbon emission intensity per unit valueof output by 5%.Carbon dioxiderecycle and reuse

By 2025, recycle and reuse an additional 500 thousand tonnes of carbon dioxide.From 2026 to 2030, recycle and reuse an additional 3.65 million tonnes of carbon dioxide.

By 2025, achieve full coverage of new energy at the Company'smain production and operation units.Green electricitycoverage

GHG management goalsProgress

By 2028, complete the transaction of an additional 1,615 million kWh of green electricity.Green electricitytrading scale

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

¡ñ¡ñ¡ñ

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Green electricity and green ce®îi®êcates£º

In 2024£¬

045046

The Company is committed to transforming the way it utilizes resources to achieve high resource e®æciency and suppo®î the nation's low-carbondevelopment with practical actions. The Company strictly abides by relevant laws and regulations such as the Energy Conse®¹ation Law of thePeople's Republic of China and the Water Law of the People's Republic of China. We improve our resource management and production technology,and promote the implementation of and innovation in resource conse®ïation and consumption reduction from aspects such as energy conse®ïationtechnological transformation and alternative water resources.

Reducing Resource Consumption

The Company continues to consolidate our energy management basis,and has formulated policies such as the Energy Management Procedures,the Energy Conse®¹ation Management Measures, the SpecialHigh-Energy Consumption Equipment Management Measures and theInterim Measures for Assessment of the Reward and Punishment on EnergyConse®¹ation Target to clarify the responsibilities of energy managementdepa®îments at all levels, the equipment energy management andmonitoring methods and the assessment system. The Company improvesenergy management systems and energy management organizationalstructure as per ISO 50001 energy management systems. Thesubsidiaries of the Company have established an organizational structurewith the head of each subsidia®ñ as the leader and the TechnologyDepa®îment as the leading depa®îment. Each depa®îment shall executecontrol according to its specialities and responsibilities, and pe®íormrelevant work in accordance with the requirements of the energymanagement system. By the end of repo®îing period, 29% of theCompany's operating subsidiaries obtained the ISO 50001 ce®îi®êcation.The Company has established an energy consumption tracking and management mechanism. The energy management group calculates andanalyzes the energy consumption of each production unit regularly. We car®ñ out comprehensive inspection of energy conse®ïation and energyreview across the facto®ñ, draw energy measurement network maps and make statistics on suppo®îing instruments of energy measurement. Weoverhaul our units and eliminate abnormal energy consumption and high energy consumption, clarify the direction for improvement of energyconse®ïation technologies, and implement technological innovation and upgrade rather outdated processes and units. At the beginning of eachyear, the Company's subsidia®ñ sets management targets for electricity, steam, coal and other types of energy, as well as major improvementmeasures and plans. Meanwhile, the e®ãectiveness of energy conse®ïation and consumption reduction is included in the pe®íormance appraisals ofthe related depa®îments and employees. Each subsidia®ñ follows up the target completion progress on a monthly basis, and analyzes and recti®êesunmet goals.

Energy Management

Through integration of upstream and downstream product chains and carbon recycling, ZPC applies pressure swing adsorption anddistillation puri®êcation technologies to re®êne all CO2 (360 thousand tonnes/year) produced by 3 sets of ethylene glycol plants. In 2024,a plant recycling 200 thousand tonnes of EC and 240 thousand tonnes of food-grade liquid CO2 annually was put into production.The CO2 recycling plant adopts green processes to produce products such as food-grade CO2, EC, DMC, and high-pe®íormancePC engineering plastic, which are widely used in lithium batte®ñ electrolyte, active intermediates of lubricating grease, plasticizers, etc.With the wide application of such products, a ¡°CO2 - EC - DMC - DPC - DPC - PC engineering plastic¡± indust®ñ chain integrating theupstream and the downstream has been formed. This industrial chain can reduce tail gas emission from the ethylene glycol plant by103 thousand tonnes per year. A single set of production unit on the integrated industrial chain process can produce 520 thousandtonnes of high-pe®íormance PC resins annually, realizing the synergy.

ZPC established an indust®ñ chain for high-value utilization of CO2Case

ZPC ¡°CO2 - EC-DMC-DPC-PC¡± industrial chain diagram

ISO 50001 energy management system

ce®îi®êcate of Yisheng Dahua

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CO2 recycledfrom the ethyleneglycol plant

Ethylene oxide

(EO)

Ethylene carbonate plant

Ethylenecarbonate

(EC)

Methanol

Dimethyl carbonate plant

Dimethylcarbonate

(DMC)

Phenol

Diphenyl carbonate plant

Diphenylcarbonate

(DPC)

Polycarbonate

(PC)

Bisphenol A

Polycarbonate plant

047048

Energy Structure Adjustment

We are committed to progressivelylowering our dependence ontraditional fossil fuels such as coal andoptimizing our energy mix usingnatural gas.

Energy-conse®ïation TechnologicalTransformation

We plan to achieve goals on energy saving and consumptionreduction by optimizing process operating parameters,modifying ce®îain pa®îs of the production units, and initiatewaste heat recove®ñ and utilization projects

Zhongjin Petrochemical has joined hands with universities and research institutes to car®ñ out research on low-temperatureresidual heat and pressure recove®ñ technology, which is applied in intelligent heat island project, exhaust steam recove®ñ project,dispropo®îionation low-temperature heat recove®ñ project, ORC residual heat power generation project, high and low oxygendeaerator project, etc. The waste heat is recovered and used for heating or pressurized to produce high pressure steam.

Zhongjin Petrochemical's residual heat recove®ñ projectCase

ZPC has built a torch gas recove®ñ system as a suppo®îing facility for the Company's 40 million tonnes/year integratedre®êning-chemical project. The system is mainly used to recover the ®ìammable vent gas emitted from the upstream plants under normalproduction conditions. After being pressurized by compressor, the recovered gas will be delivered to the d®ñ gas desulfurization systemfor desulfurization. After then, the gas will be put into the facto®ñ-wide fuel gas pipeline network as fuel. In 2024, the torch gas recove®ñsystem recovered a total of about 500 million standard cubic meters of torch gas, saving more than RMB 270 million for the Companyand reducing the frequency of overhead torch ®êre. This helped the Company save energy and reduce consumption.

ZPC's torch vent gas recycling projectCase

ZPC has promoted the use of shore power for ships docking at po®îs by constructing shore power supply for ships atmulti-purpose terminals and d®ñ bulk terminals. The terminals are equipped with ten low-voltage socket cabinets and three sets ofship-to-shore power supply with a system capacity of 1,000 kVA, so as to provide shore power supply for ships docking at thepo®îs. By providing ships with stable power supply, the shore power project can reduce their fuel consumption for docking andlogistics costs for accessing the ashore power supply system, thereby reducing GHG emissions.

ZPC's ship-to-shore power supply construction projectCase

ZPC has constructed residual heat recove®ñ system for the 40 million tonnes/year integrated re®êning-chemical project, whichproduces freshwater by using low-temperature residual heat. The project improves energy e®æciency and saves energy consumedby circulating water cooling or air cooling, and provides the petrochemical plant with reliable, high-quality and cost-e®ãectivesupply of freshwater. In 2024, more than 70 million tonnes of freshwater were produced through recycling of residual heat.

ZPC's residual heat recove®ñ for seawater desalinationCase

The major types of energy consumed during the Company's production processes are electricity, steam, oil, gasoline, diesel, natural gas and coal.We reduce energy consumption by adjusting energy structure, implementing technological transformation in energy conse®ïation, improvingenergy consumption management, and other measures.

Zhongjin Petrochemical takes various energyconse®ïation technology improvement measures tosave 7,000 tonnes of standard coal by 2025.7,000tonnesThe subsidiaries set up theirenergy conse®ïation targets asthe follows:

Improvement of EnergyConsumption ManagementWe continue to optimize theconstruction of the energy module ofthe MES (Manufacturing ExecutionSystem) to realize the informationmanagement of energy data.

Energy management measures

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In 2024, China Petroleum and Chemical Indust®ñ Federation (CPCIF) released the 2023 ¡°Top Runner¡±Benchmarking Enterprise List for High Energy-consuming Products in the Petroleum and Chemical Indust®ñ, andZPC ranked 1st on the energy e®æciency ¡°Top Runner¡± list.

049050

The Company takes active measures for water conse®ïation in production and operation to improve water consumption e®æciency. All subsidiarieshave established strict water resource management systems and goals. The relevant operating depa®îments conduct re®êned monitoring andstatistics on water consumption data, and repo®î to the Board of Directors. We are committed to reducing water waste and increasing the rate ofwater reutilization by using water-saving equipment and water reutilization technologies and e®ãective control over key water consumption points.We also pay attention to the water stress in all of the locations of our operation and have conducted water stress risk assessment and monitoring.For more details, please visit Rongsheng Petrochemical Conducted Water Pressure Risk Assessment for All Operations.Our production water sources va®ñ depending on the project location and are mainly from themunicipal pipeline network, seawater desalination, and rainwater collection. During projectenvironmental impact assessment, we examine the water supply risk at the project locationand e®ãectively reduce water risks by adopting methods such as establishing correspondingemergency mechanisms and installing backup water tanks. During the operation stage, wecontinue to implement the water conse®ïation measure of ¡°water saving at the front andwater reuse at the end¡±, and form a water-resources-saving management system with dailymonitoring, weekly inspection and monthly summa®ñ. The water management mainly focuseson water consumption management, goal setting, process and equipment upgrade andalternative water sources.

Water Management

During the year, the alternativewater sources accounted for

73.66%

ZPC's measures on water managementCase

Yisheng Dahua's measures on water managementCase

Water Consumption ManagementGoal Setting

Water management measures

Alternative Water Sources

Use MES to monitor the Company's waterconsumption during production, extract datafrom the MES regularly to calculate water balance,investigate any identi®êed imbalances. Theresponsible depa®îments shall address theproblems identi®êed.Establish a water conse®ïation managementprocedure that speci®êes the relevant manage-ment structure, objectives, pe®íormanceindicators, as well as water-saving measurementand statistics, and inspection and assessment.Process and Equipment UpgradingFor the ®êrst time in the indust®ñ, a closed-circuitcirculating cooling water process is adopted,which is basically drain-free compared totraditional open-circuit circulating cooling watersystems, saving about 20 million tonnes of waterper year.We repair malfunctioning equipment, upgradeequipment with high consumption, and promptlyretire outdated equipment. We renovate andupgrade water equipment to reduce waterconsumption.We continue to inspect and eliminate leakage inplants.

¡ñ

¡ñ

¡ñ

¡ñ

¡ñ

Set detailed goals related to water resources managementfor products, systems and production units, such as theconsumption of circulating water, deoxidizing water,demineralized water per unit, the replenishment rate offresh water in the circulating water plant, and analyzeprogress on goal achievement on a monthly basis. By2025, Rongxiang Chemical Fiber will consume no morethan 1.5 tonnes of water per tonne of polyester product .

¡ñ

Each subsidia®ñ uses alternative water sources such asdesalinated seawater, rainwater, and reclaimed water, toreduce the consumption of freshwater from the municipalpipeline network based on its own circumstances. ZPCuses 100% desalinated seawater for production. Itproduced 138 million tonnes of freshwater out of 342million tonnes of seawater, of which 46.13 million tonneswere produced by membrane desalination and 92.15million tonnes were produced by thermal desalination. Thefreshwater produced was mainly used for circulating waterreplenishment, desalination station replenishment,facto®ñ-wide production, re®êne®ñ air-cooling, etc. YishengDahua utilized sea water, reclaimed water and othernon-fresh-water sources to replace 70% to 80% of thetotal water consumption in the plant.We research the feasibility of replacing high-grade waterwith low-grade water to fu®îher reduce the waterconsumption at source.

¡ñ

¡ñ

A rainwater recycling unit with a processing capacity of 800 cubic meters per hour was constructed to use treated rainwater for®êre®êghting water replenishment. At present, we have completed the testing of the unit, and are currently laying the pipelines forreplenish water between the unit and the ®êre®êghting water tank;The reclaimed water unit (phase II) was o®æcially put into production in September 2023. The equipment is designed with aprocessing capacity of 5,000 cubic meters per hour and a water production capacity of 3,500 cubic meters per hour, and all thewater produced is used for water replenishment in the circulating water plant;Two sets of exhaust steam recove®ñ devices for deaerator have been added to the puri®êcation unit of the coal-to-gas productionfacility to collect steam condensation water and transpo®î it back to the facility for reuse.

¡ñ¡ñ¡ñ

Construction of one-step energy-saving technology renovation project for plant to streamline the process ®ìow of the re®êning unit.The project can reduce electricity consumption by 32.8 million kWh, circulating cooling water by 28.8 million tonnes, high-pressuresteam by 400 thousand tonnes, and standard coal by 70 thousand tonnes eve®ñ year.Construction of mother-solid wastewater recycling and energy-saving project to use self-owned patented separation andrecycling technology to treat PTA mother-liquor wastewater. The project can produce 4.8 million tonnes of product water per year,which will be reused by the main plant. This can save 50% of the demineralized water used in the main plant, and reduce wastewa-ter discharges by 4.8 million tonnes. Meanwhile, the project can recycle PT acid (p-toluic acid) at amount equivalent to about 2,155tonnes of PX (paraxylene) per year, and recover 69 tonnes of metal cobalt and manganese per year.Construction of the project of e®æcient utilization of high-temperature condensate in the re®êning unit of PTA plant. Under theproject, after the high-temperature and high-pressure condensation water and the ultra-pure water heated up from the polyesterprocess tower are cooled down to less than 160 ¡ãC, they will be pressurized by booster pumps and then fed into the thermalmedium furnace, so as to recycle heat and condensation water to reduce the power consumption of feed pumps. The project cansave 25,610 tonnes of standard coal per year.

¡ñ¡ñ

¡ñ

In 2024, Yisheng Dahua was awarded the title of ¡°Water-Saving Enterprise in Dalian¡±.

Yisheng Dahua has carried out a series of major energy-saving and water-saving technology renovation projects:

In 2024, CPCIF released the 2023 ¡°Top Runner¡± Benchmarking Enterprise List for Water E®æciency of Key Products in thePetroleum and Chemical Indust®ñ. ZPC was awarded the ®êrst place in the list of "Water E®æciency Leader" of the seawatercomprehensive utilization production enterprises, and seawater comprehensive utilization production enterprises using naphtha asraw material. In addition, a ZPC employee was honored as an ¡°Excellent Water Saving Manager of Water E®æciency ¡®Top Runner¡¯Enterprise¡±.

ZPC has carried out a series of major energy-saving and water-saving technology renovation projects this year:

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of total water consumption.

051052

The Company advocates the green and low-carbon philosophy in daily work and life, and promotes green o®æce plan in the workplace for ouremployees. The Company continues to raise the awareness of our employees and suppliers regarding environmental protection and organizesvarious special trainings to actively promote knowledge on this topic. We encourage eve®ñ employee to conse®ïe resources and minimize waste.We integrate paperless working in our daily work to reduce carbon footprint.

Green O®æce

The Company reinforces the standardized management of wastewater,exhaust gas, and solid waste, and pays special attention to theprevention and control of toxic and hazardous substances. We strictlyabide by the Law of the People¡¯s Republic of China on the Preventionand Control of Atmospheric Pollution,the Law of the People¡¯s Republic ofChina on the Prevention and Control of Water Pollution, and the Law ofthe People¡¯s Republic of China on the Prevention and Control ofEnvironmental Pollution by Solid Waste, and other related laws andregulations. We prioritize air pollution control, water pollution control,and solid waste management in our environmental protection work.We implement the control requirements of the EIA pollutant dischargetargets in accordance with the Emission Permit, strictly monitor thedischarge volume and control the total amount of pollutants. Wepe®íorm environmental monitoring and emergency monitoring andmanagement at key locations such as pollution sources, dischargeoutlets and plant boundaries, evaluate the e®ãectiveness ofenvironmental control and status of pollutant discharge, and closelymonitor the impact of various types of emission on the environment.The pollutant discharge of subsidiaries of key pollutant dischargerslisted in the environmental protection depa®îment is detailed in the2024 Annual Repo®¸.

Controlling PollutantDischarge

The Company strictly manages the impact of production plants onthe atmosphere and practices ¡°ultra-low emissions¡±. Eachsubsidia®ñ has formulated the Management Regulations forExhaust Gas Pollution Prevention and Control and the Measures forManagement of Exhaust Gas and Noise, which de®êne theresponsible depa®îments and their responsibilities, and setrequirements for the prevention and control of exhaust gaspollution from aspects such as pollution prevention and emissionmanagement. Through various engineering management andtechnical means, we have strengthened the control of keyproduction processes and installed online monitoring system. As aresult, the indicators of major pollutants such as VOCs, sul®êdes,and nitrogen oxides have been continuously improved.During the repo®îing period, the subsidiaries set up their airpollution reduction targets as the follows:

Air Pollution Control

Pollutant discharge control

Air pollution reduction targetsfor the future

By 2025, Shengyuan Chemical Fiber will phase outboilers and realize the goal of no emission of ®ìuegas pollutants.

ShengyuanChemical Fiber

By 2025, the concentration and total amount ofindustrial waste gas emissions will meet thestandards and comply with the requirements set outin the Emission Permit.YishengDahua

By 2025, air pollutant emission monitoring factorswill be in line with national standards.YishengNew Materials

By 2025, waste gas treatment will be legallycompliant and meet discharge standards, inaccordance with the requirements of the emissionpermit;NOx emissions from waste gas will be reduced by10% compared to the 2023 level.ZhongjinPetrochemical

Soot emissions are not higher than 20 mg per cubicmeter;Sulfur dioxide emissions are not higher than 50 mgper cubic meter;Nitrogen oxide emissions are not higher than 150mg per cubic meter; and VOCs emissions are nothigher than 60 mg per cubic meter;By 2025, the operation will not exceed thestandards and will comply with the air pollutantcontrol standards of Hangzhou.

RongxiangChemicalFiber

Utilizing ERP systems to achieve apaperless o®æce and encourage the useof cloud drives and cloud meetings.

Optimizing energy consumption in workplace, such as reducing thecountdown before computer monitors entering sleep mode, regulatingair-conditioning and lighting settings in o®æce areas, etc.

Encouraging waste so®îing tomake the best use of it andreduce unnecessa®ñ waste.

Promoting green travel, arrange shuttle busesfor employees to commute and reduce the useof personal transpo®îation.

Measures to build green workplaces

Applying digital means to optimize the o®èineapproval process for logistics, vehicle ent®ñ andexit, etc., and reduce the communication basedon the use of paper documents.

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Taking into account the di®ãerent types of discharge of air pollutants, we have taken corresponding control measures for organized emission,unorganized discharge and abnormal discharge.

Equipment management©sstrengthen the operation management of environmental protection facilities forpollution sources such as power stations and heating furnaces, and use low-nitrogen burners and clean fuels toensure that the online monitoring of exhaust gas emissions meets the standards.Sul®êde©sadopt methods such as acid stripping tail gas washing, sodium desulfurization and solvent absorption,and install acid gas and acid water gas lifting device and sulfur recove®ñ device to recover acid gas and conve®îit into sulphur; use deep desulfurization solvent to reduce the H2S concentration in the exhaust gas, and installan alkali washing tower before the exhaust gas incinerator to prevent abnormal working conditions; and usedesulfurized d®ñ gas in heating furnaces to ensure that the emissions meet the petroleum re®êning standards.Nitrogen oxides©sadopt advanced denitration technologies such as selective catalytic reduction (SCR) and UOPultra-low nitrogen burners, and equip the thermal medium furnace with SNCR denitri®êcation device, toe®ãectively control nitrogen oxide emissions.VOCs©sVOCs generated by the production unit are collected in an enclosed chamber and then incinerated anddisposed of in the heating furnace, cracking furnace waste gas incinerator, waste water incinerator, RTO, etc. tominimize VOCs emissions; use hydrogen-added gas from low pressure separator as fuel of incinerators toprevent that exhaust gas carries VOCs due to incomplete combustion of fuel; boiler ®ìue gas with VOCs will becollected and treated before being discharged through the exhaust pipe.Soot©sadopt wet electric dust removal, cloth bag dust removal, tube beam dust removal and other technologies,and install micron-level d®ñ mist dust suppression and other devices, to e®ãectively reduce soot emissions andensure air quality.

OrganizedDischarge

Ground torch: burn the waste gas discharged under abnormal working conditions.Acid gas torch©salkaline wash the abnormally discharged hydrogen sul®êde gas before burning it.Mobile monitoring vehicles©scar®ñ out pollution investigation and monitoring, emergency monitoring anddynamic monitoring of abnormal emissions to guarantee the timely detection and e®ãective handling ofabnormal situations.

AbnormalDischarge

053054

The Company attaches impo®îance to sewage treatment and strives tominimize the impact of wastewater from its operations on the surroundingenvironment. Each subsidia®ñ has formulated the Measures for SewageManagement that de®ênes the various indicators for wastewater dischargeaccording to national standards. It also clari®êes the responsibilities ofrelevant depa®îments in the management of wastewater pollutionprevention, recycling, classi®êcation, treatment and discharge.The wastewater from the Company mainly includes desulfurizedwastewater of power station, salt-containing wastewater, sulfur-containingwastewater, ammonia-containing wastewater, oily wastewater, cleandrainage, and domestic sewage. Each of our subsidiaries has set upsuppo®îing sewage treatment facilities and operates them in line with theprinciple of ¡°shunting clean water from sewage, shunting rainwater fromsewage, shunting di®ãerent types of sewage from each other, and treatingbased on their prope®îies¡± to control wastewater discharge. The specialprocess liquid or wastewater with high pollutant concentration from theproduction unit is pretreated in the unit to reach the control standard,before being transpo®îed to the sewage treatment plant for fu®îhertreatment. In addition, the Company closely monitors the pH value,chemical oxygen demand (COD), total nitrogen, total phosphorus, andother indicators of the incoming and outgoing water of each stage ofwastewater treatment in strict accordance with the relevant staterequirements to ensure that the discharge meets the standards.During the repo®îing period, the subsidiaries set up their water pollutionreduction targets as the follows:

By the end of 2025, the CODdensity of discharged wastewaterwill be reduced from 60mg/m? to50mg/m?.YishengNewMaterials

Yongsheng Technology's upgrade of boiler fuel with clean energyCase

In order to reduce the impact of volatile gases on the environment, Yongsheng Technology replaced all boiler fuels with naturalgas, and installed the natural gas boiler nitrogen oxide online automatic monitoring system to monitor pollutant emissions.Compared to coal and oil, the use of natural gas fuel will signi®êcantly reduce emissions of pollutants such as sulfur oxides, nitrogenoxides and pa®îiculate matters, thereby reducing air pollution. In 2024, Yongsheng Technology consumed more than 39 millioncubic meters of natural gas in its boilers.

Zhongjin Petrochemical's air remediation projectsCase

Taking 2024 as the year of overhaul, Zhongjin Petrochemical carried out a series of air remediation projects when the whole facto®ñwas shut down for overhaul.Replacing the ultra-low nitrogen burners to reduce the nitrogen oxide concentration of the ®ìue gas exhausted by heating furnace toabout 45 mg per cubic meter;Paint the CCR four-in-one heating furnaces to improve heat transfer e®æciency and reduce fuel consumption and pollutant emissions;and adopting combustion control air supply system with theoretical ratio for aromatics fractionation heating furnace to improvethermal e®æciency by reducing nitrogen oxide emissions by more than 25%.

Water Pollution Control

Wastewater is treated incompliance with laws andregulations; and the total amountof pollutant discharged iscontrolled within the scope of thedischarge permit approved by theenvironmental protectiondepa®îment.Wastewater COD, ammonia andnitrogen emissions are 10% lowerthan the amount permitted by theEmission Permit.

ZhongjinPetrochemical

Deodorization device©sinstall deodorization devices for acidic water storage tanks and sewage storage tanksthat are prone to giving o®ã odor; and seal up the air ®ìotation and A/O tanks at the wastewater treatment plantto collect exhaust gas, so as to reduce the impact of odor on surrounding environment.Regular maintenance©sregularly conduct leak detection and repair on the valves, pipelines, pumps, and otherutilities as required, improve operation and management level, and prevent leakage.Monitoring and treatment©sestablish an information management system to monitor the real-time data of eachdevice online, identify abnormal emissions and leaks in a timely manner, and control gas leakage at the source.Set up atmosphere monitoring superstation and monitor the air quality of the surrounding environment toidentify air quality anomaly and act promptly.VOCs©stake e®ãective sealing and collection measures for the major processes that dissipate VOCs and give o®ãodor to ensure that the exhaust gas is discharged up to the standard after treatment. Discharge after dilution isprohibited.

UnorganizedDischarge

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055056

The company continuously optimizes the comprehensive management process for solid waste and has established relevant regulations such asthe Administrative Measures for Solid Waste. It has also established a hazardous waste management ledger and environmental managementplatform. Each of our plants has set up a dedicated waste management depa®îment, which is responsible for coordinating the daily managementand data collection of all so®îs of wastes. Moreover, each subsidia®ñ sets annual waste management goals through pe®íormance and managementassessments, aiming to control waste generation at the source.

Waste Management

Hazardous Waste

The Company treats waste in strict accordance with the principles of ¡°reduction, utilization, and neutralization¡±. We prioritize waste recycling andreuse, and non-recyclable waste is classi®êed and disposed of based on its level of hazard. Hazardous waste is treated in accordance with nationalregulations through closed-loop processes, and we arranged specialized training for employees responsible for managing the storage andtranspo®îation of hazardous waste. General solid waste is ®êrst so®îed, then disposed accordingly.

Hazardous waste mainly comes from raw materials andby-products in the production process.

Zhongjin Petrochemical's treatment and reuse of sewageCase

Zhongjin Petrochemical adopts a multi-stage treatment process to complete the treatment and reuse of electro-desalinationsewage in its integrated re®êning-chemical project, realizing e®æcient puri®êcation and resource recycling. The electro-desalinationsewage in the plant is delivered to the salt-containing system of the sewage treatment plant to undergo degreasing and air®ìotation to remove organic pollutants through microbial degradation.In the deep treatment stage, the sewage ®êrstly undergoes air ®ìotation and multi-media ®êltration. After then, ozone catalyticoxidation technology is applied to deeply treat refracto®ñ organics. At last, the water will be deeply puri®êed through the ultra®êltra-tion (UF) and reverse osmosis (RO) desalination system. The puri®êed water from sewage treatment is reused in production tank tomeet the production water demand, while the concentrated water is discharged for subsequent treatment.In addition, sewage containing sulfur, ammonia and benzene is subject to acid water gas stripping treatment, and then reused inthe circulating water plant after degreasing, air ®ìotation, A/O biochemical and MBR membrane treatment, which e®ãectively reducespollutant discharges and realizes e®æcient recycling of water resources.In 2024, Zhongjin Petrochemical treated and reused 2.9 million tonnes of wastewater.

Resource utilization of waste at ZPCCase

ZPC embraces the principle of hazardous waste resource utilization. The company processes eliminated and decommissioned UPSlead-acid batteries from electrical centers through specialized recycling. Lead and other metals are extracted and reprocessed intolead ingots, which are then reinstalled in vehicles such as buses to replace new batteries. Annually, ZPC recycles 150 waste UPSlead-acid batteries. This e®ãectively decreases the demand for virgin lead resources and reduces the potential risks of environmentalpollution caused by used batteries.Additionally, ZPC collaborates with leading domestic environmental enterprises to apply regeneration technology for catalysts usedin ®ìue gas denitri®êcation. This technology employs high-temperature heating and chemical separation to extract and reusevaluable metals from spent catalysts. In 2024, ZPC successfully regenerated and reused 1,500 tonnes of catalysts, which contribut-ed to the reduction and reuse of hazardous waste and reduced the operating cost of ZPC.

Waste management approaches

General Solid Waste

General solid waste is mainly divided into domestic waste,industrial waste without residual value, and industrialwaste with residual value.Domestic waste: regularly transferred to the domesticwaste land®êll by special vehicles arranged by theengineering depa®îments.Industrial waste with no residual value: handed over tothe quali®êed industrial waste handling entity for disposal.Industrial waste with residual value: sold to the externalby the sourcing depa®îment for comprehensiveutilization (for example, gypsum and scrap metal).

Reduction at the source: reduce the generation ofhazardous waste from the source as much as possiblethrough the application of advanced process.Outsourced for disposal: entrust the hazardous wastethat cannot be fu®îher utilized to the quali®êed thirdpa®îy for disposal.

Target for 2025: the waste is disposed of incompliance with laws and regulations.ZhongjinPetrochemical

Hazardous waste land®êll rate is planned to be lowerthan 5% by 2025.

ZPC

By 2025, COD concentration decreases by 15% over2024 (from 60 mg/L to 50 mg/L).YishengNew Materials

In accordance with Yisheng Dahua's goals ofcompliant treatment, the solid waste generated byYisheng Dahua is entrusted to quali®êed organizationsfor treatment in compliance with laws.YishengDahua

Waste management targets for the future

the Company set up a hazardous wastereduction target:

Taking 2023 as the base year, theCompany's hazardous waste intensity perRMB 100 million of output will decline by

The subsidiaries set up their wastemanagement targets as the follows:

20%

During the repo®îing period

by 2030.

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057058

The Company regards the development of clean energy-related businesses as one of its core pillars. We actively identify and seek out the risks andoppo®îunities brought about by climate change. E®ão®îs are focused on developing alternative energy sources and technologies to mitigate climatechange. We keep searching new areas like sustainable use of water resources and reducing the use of source water. We are actively engaged indiscussions with multiple new energy enterprises to explore new collaboration oppo®îunities in clean technology, thereby increasing our naturalcapital through the energy revolution. To accelerate renewable energy capacity, the Company plans to achieve 100% coverage of new energyprojects across its Zhejiang-based facilities by 2025, with a total installed capacity of 100 MW, suppo®îed by increased investments and gridintegration capabilities.

Seizing Clean Technology Oppo®îunities

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Photovoltaic project deployment: YongshengTechnology commissioned a 7.2 MW photovoltaicproject in 2024, complementing its existing 17.6 MWdistributed rooftop photovoltaic systems. RongshengEnergy intends to construct a 60 MWp rooftopphotovoltaic plant in ZPC Plant. The project is expectedto be operational in 2025, and will reduce carbondioxide emissions by 38 thousand tonnes per year.ZPC 10 MW/20 MWh energy storage system: ZPCdeployed two energy storage systems (5 MW/10 MWheach) in 2024, totaling 10 MW/20 MWh. The batte®ñenergy storage system charges during o®ã-peak hoursusing surplus transformer capacity and dischargesduring peak hours. This not only avoids the use of fossilfuel energy when there is a sho®îage of electricity duringpeak hours but also saves a po®îion of the electricitycosts during those hours. The system is also equippedwith independent ®êre protection, temperature control,lighting, video su®ïeillance, and other systems to ensuresafe and reliable operation, with projected annualrevenue RMB 900 thousand per year.Yisheng Dahua's multiple uses of self-producedbiogas: Yisheng Dahua utilizes the biogas generatedfrom the wastewater treatment of its comprehensiveutilization facility. A po®îion of the biogas replacesmethanol in the crude oil hydrogenation process. Thegenerated hydrogen se®ïes as feedstock for the mainunit's hydrogenation reactor. Another po®îion of thebiogas is sent to the reactive treatment oxidizing (RTO)unit as combustion gas, while the excess biogas is usedas fuel in the thermal medium furnace, reducing theconsumption of coal fuel. Through this method, YishengDahua can save 4,000 tonnes of coal annually andreduce approximately 8,000 tonnes of carbon dioxideemissions.

Alternative energy sources and technologies

ZPC's promotion of seawater desalination project: One of ZPC'sseawater desalination projects - 100 thousand tonnes/daymembrane desalination system, addressed the issue of limitedfreshwater resources in its island location. The seawaterdesalination project development team adopts a site-speci®êcapproach and utilizes an overhead design to fully utilize ve®îicalspace and maximize freshwater production within the constraintsof limited production area. With the technical experience gainedfrom the ®êrst phase of the project, the company has successfullydeveloped and put into operation a large-scale seawater reverseosmosis unit with a daily production capacity of 35,280 tonnes.

Sustainable use of water resources

Rare ea®îh rubber production technology: ZPC has developed aproduction facility for rare ea®îh rubber products, using n-hexaneas the solvent, where butadiene undergoes continuous directionalpolymerization in the polymerization reactor, and the rubbersolution is then coagulated and processed to obtain rare ea®îhbutadiene rubber products. The rare ea®îh rubber productionfacility reduces VOC generation through optimization of auxilia®ñagent selection, production process parameter control, andequipment selection, such as adopting a four-reactor coagulationsystem during the stripping stage to reduce n-hexane residue inthe rubber, and all exhaust gases during the post-processingstage are directed to a regenerative thermal oxidation furnace fortreatment, collectively reducing VOC emissions. Simultaneously,the rare ea®îh rubber production utilizes rare ea®îh catalysts toprecisely control the polymerization reaction, which whileimproving product pe®íormance, reduces by-products anddecreases catalyst residue pollution, achieving both economicbene®êts and environmental advantages, and enhancing themarket competitiveness of the company's products.rPET physical recycling project: Hainan Yisheng optimized theproduct structure, introduced advanced manufacture techniques,and has put into operation 50,000 tonnes/year rPET physicalrecycling production capacity. Hainan Yisheng's post-consumerrPET produced through a physical recycling process can be usedto produce 100% recycled PET containers for food contact if theconditions of use are met and has received ce®îi®êcation from theUS Food and Drug Administration (FDA).

Prevention and control of pollution

In the future, the Company will continue to expand renewable energy power trading including wind power, photovoltaic,hydropower, continue to explore trading pa®îners, promote the allocation of green power resources of the Company on a largerscale, and optimize the new power trading strategy combining traditional power and green power to esco®î the sustainabledevelopment of the Company.

During the repo®îing period, the main environmental pe®íormance indicators of Rongsheng Petrochemical are as follows:

Main Environmental Pe®íormance Indicators1

1 The statistical scope of environmental pe®íormance indicators covers main operation and production units, including Ningbo Zhongjin Petrochemical Co.,Ltd., Zhejiang Petroleum & Chemical Co., Ltd., Yisheng Dahua Petrochemical Co., Ltd., Zhejiang Yisheng New Materials Co., Ltd., Zhejiang ShengyuanChemical Fiber Co., Ltd., Rongxiang Chemical Fiber Co., Ltd., Zhejiang Yongsheng Technology Co., Ltd., Rongsheng New Materials (Zhoushan) Co., Ltd.,Rongsheng Petrochemical (Singapore) Pte. Ltd., and Rongsheng International Trading Co., Ltd.2 Oil is the Company's main production raw material.3 The calculation of greenhouse gas emissions data is based on the consolidated ®ênancial statements, and is calculated and aggregated based on theshareholding ratio of each subsidia®ñ enterprise.

4. Scope 1 GHG emissions refer to the sum of direct greenhouse gas emissions generated by Rongsheng Petrochemical Co., Ltd. and its holding companies

through fuel combustion emissions, process emissions, torch combustion emissions in 2024, minus the amount of greenhouse gas recycling collected andutilized in the production process, with reference to the Guide to Accounting Methods and Repo®¸ing of Greenhouse Gas Emissions by China's PetrochemicalCompanies (Trial), and is calculated and aggregated based on the shareholding ratio of each holding enterprise.

5. Scope 2 GHG emissions refer to the sum of indirect greenhouse gas emissions generated by Rongsheng Petrochemical Co., Ltd. and its holding

companies through net purchases of electricity and net purchases of heat in 2024, with reference to the Guide to Accounting Methods and Repo®¸ing ofGreenhouse Gas Emissions by China's Petrochemical Companies (Trial) and the Notice on Conducting the Work Related to the Management of Greenhouse GasEmission Repo®¸ing for Enterprises in the Power Generation Sector in 2023-2025, and is calculated and aggregated based on the shareholding ratio of eachholding enterprise.6 The emission data are all derived from environmental monitoring and management conducted in accordance with laws, regulations, standards, and norms.

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

IssueCategoryIndicatorUnit20232024

Emissions

Exhaust gas

Sulfur dioxide (SO

) emissionstonne623559Nitrogen oxide (NO

X

) emissionstonne6,2455,609Particulate matter emissionstonne234 190Volatile organic compounds(VOCs) emissions

tonne7,5617,643Wastewater

Total wastewater dischargetonne33,666,40229,253,664Chemical oxygen demand (COD)discharge

tonne1,543 1,516Ammonia nitrogen dischargetonne1116

Waste

Hazardous waste intensity

tonne per RMB10,000 of revenue

0.010.01

Non-hazardous waste intensity

onne per RMB10,000 of revenue

0.030.03

Recycled and disposed wastetonne860,810 446,663Direct energyconsumption

Coaltonne5,797,4975,544,020

Gasolinetonne96

Diesel fueltonne1,2891,174

Oil

tonne43,704,50544,027,725

Packaging materialconsumption

Consumption of packagingmaterials

tonne49,79548,049

Greenhousegas (GHG)emissions

Scope 1 GHG emissions

tonne of CO

equivalents

25,287,83626,410,900

Reused watertonne34,160,41243,771,996Other sourcestonne7,080,9087,013,886

2,983,00429,393,904Scope 2 GHG emissions

tonne of CO

equivalents

3,772,401Total amount of GHG emissions

tonne of CO

equivalents

29,060,237GHG emissions intensity

tonne of CO

equivalents perRMB 10,000 of

revenue

Environmentalmanagement

Environmental protection investmentRMB 10,00065,957Environmentalprotection training

Hours of environmentalprotection training

hour59,24180,137Sessions of environmentalprotection training

time661457Participation in environmentalprotection training

person30,84322,278Proportion of pollutant discharge up to the standard%100100Proportion of noise controlled up to the standard%100100Proportion of environmental facilities in operation%100100Number of major environmental pollution accidentcase00

IssueCategoryIndicatorUnit20232024

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0.9

27,273

Resource use

Resource use

Indirect energyconsumption

Self-generated photovoltaicpower generation

kWh9,870,831Purchased electricitykWh11,686,353 9,881,046Purchased steamGJ303,206 468,589Purchased green electricityMWh/

/

52,427,340

Comprehensiveenergy consumption

Comprehensive energyconsumption

tonne of standard

coal

10,465,7049,225,475Comprehensive energyconsumption intensity

tonne of standard

coal per RMB10,000 of revenue

0.320.28

Water consumption

Total water consumptiontonne189,915,691189,875,843Water consumption intensity

tonne per RMB10,000 of revenue

Desalinationtonne139,456,606139,866,896Municipal water systemtonne43,061,28342,393,981Underground watertonne00Surface watertonne316,894601,080

Hazardous wastetonne412,380 336,989Non-hazardous wastetonne844,8501,081,789

Water consumption

059060

With the spirit of craftsmanship, we ensure strict quality control, stay attuned tocustomer and market trends, and enforce rigorous product and se®ïice qualitymanagement. We strive to increase production e®æciency through innovativetechnology. Additionally, we actively protect intellectual prope®îy rights, managechemical products, and continually enhance our core competitiveness, thusgenerating greater value for the indust®ñ and the Company.

Creating Momentum byReinforcing Quality and Safety

061062

The Company has established a dedicated safety supe®ïision team to conduct continuous safety inspections across all production areas, includingdaily inspections, special inspections, and random spot checks, covering all production processes. Issues identi®êed are subject to closed-looprecti®êcation. Additionally, third-pa®îy consulting se®ïice providers are engaged to pe®íorm on-site monitoring and verify the implementation ofsafety measures.

The Company emphasizes safety and health achievements in the depa®îment and employee pe®íormance appraisals and implements them with acombination of rewards and penalties. Eve®ñ month, the Company implements a safety pe®íormance evaluation mechanism that imposesdisciplina®ñ actions on personnel who fail to meet safety obligations while granting awards to depa®îments and individuals who demonstrateexcellence in safety practices.The Company organizes employees to sign the Work Safety Responsibility Statement to strictly assure their prima®ñ responsibility in their positionto ensure work safety. In case of safety accidents, we will take disciplina®ñ actions or levy economic penalties against relevant depa®îment headsbased on the accident grade in accordance with internal policies, including the Accident (Incident) Management Procedures, and the ManagementProcedures for Reward and Punishment for Work Safety, and incorporate accident details into the appraisal results of relevant depa®îments. We willalso follow up the results of accident handling and the recti®êcation of related problems to ensure that such accidents do not repeat.

The Company establishes an emergency management system anddevelops emergency response plans for key procedures. In the event of anyproduction safety incident, Rongsheng Petrochemical and its subsidiarieswill strictly adhere to national laws and regulations, including theRegulations on Repo®¸ing, Investigation and Handling of Production SafetyAccidents (State Council Decree No. 493) and the Provisions on Penalties forProduction Safety Accidents(Minist®ñ of Emergency Management Order No.

14), as well as internal policies such as the Incident Management

Regulations (Q/RK G08 005-2022) of Rongsheng Holding Group. Uponoccurrence of an incident, we will promptly repo®î to local governmentauthorities and internal specialized management depa®îments. At the sametime, we will immediately activate emergency response procedures, andswiftly implement e®ãective measures to control and eliminate the impact ofthe incident, ensure personnel safety, and minimize prope®îy losses. Uponcompletion of the emergency response, we will establish an investigationteam based on the accident catego®ñ and direct economic losses. Withinthe speci®êed time frame, we will comprehensively implement the ¡°four keysteps¡± principle: completing accident cause analysis, formulating preventivemeasures, conducting safety education and training, and implementingdisciplina®ñ actions against responsible personnel. We pe®íorm emergencydrills together with relevant depa®îments eve®ñ year, and rectify theproblems found, so as to continuously improve the comprehensiveemergency response of the Company.

Emergency Management

Guarding Work Safety

2024Safetyinvestment

721.13

million RMB

ZPC has signi®êcantly enhanced corporate-wide safety governance through the implementation of a comprehensive Enterprise RiskManagement (ERM) evaluation framework. This framework encompasses several critical domains: incident control, safetymanagement, occupational health management, ®êre safety management, contractor management, and integrated safety coordination,with binding reward-penalty clauses. Monthly data is aggregated and uploaded to the ERM appraisal module, ensuring audit-readytransparency and process standardization. At the end of the year, the ERM evaluation results are integrated into our comprehensiveassessment framework, constituting 20% weighting in employees' annual pe®íormance metrics. This approach incentivizesdepa®îmental safety accountability compliance and advances sustainable development.

ZPC implements ERM evaluation to strengthen safety & risk governanceCase

Yisheng Dahua emergency drill

The Company abides by relevant state and local laws and regulations, including the Work Safety Law of the People's Republic of China and theWork Safety Regulations of Zhejiang Province. We have developed and improved a number of internal work safety rules and operationalprocedures, including the Management Regulations on Work Safety and Environmental Protection, the Work Safety Responsibility System and theHazard Identi®´cation and Risk Grading Control Procedures. We have been working to standardize the work safety management in all subsidiariesand have established an e®ãective work safety management system. During the repo®îing period, no work-related fatality occurred in the Companyand its subsidiaries.Adhering to the work safety management principles of ¡°all employees pa®îicipate, prevention comes ®êrst, safety and health is the foundation andcontinuous improvement is a must¡± as well as ¡°the person in charge takes the responsibility,¡± the Company signs the Annual Safety andEnvironmental Protection Target Responsibility Statement the with each of its subsidiaries and the Work Safety Responsibility Letter with itsemployees to strengthen the work safety responsibility system and awareness among all sta®ã.

Risk Management of Work Safety

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Rongsheng Petrochemical upholds the development principle of ¡°safety ®êrst, people-oriented,and environmental protection ®êrst¡±. It excels in risk prevention and proactive forecasting,continuously strengthens the ¡°red line awareness¡± for safe production, promotes theconstruction of long-term mechanism for safe production, strictly implements the allocation ofmajor responsibilities regarding safe production, focuses on the identi®êcation of various hiddendangers in production activities, and comprehensively improves the level of safe productionmanagement.

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the Company pe®íormedsafety emergency drills

2,262times

pe®íormed safetyemergency drills

45,761pa®îicipants

Employee Work-relatedInju®ñ Insurance Investment

10.97

millionRMB

Employee Work Safety LiabilityInsurance Investment

1.07

During the repo®îing period

millionRMB

Safety Inspection and Appraisal

During the repo®îing period, each subsidia®ñ formulatedwork safety objectives and achieved them through thee®ãective operation of the work safety system and theimplementation of work safety management measures.The achievements include the following:

Setting annual safety objectives and managing assessment plans;Building and improving the framework of work safety system;Formulating the Company's contingency plans for safety and environmentalincidents, and ensuring the implementation of emergency drills;Improving the supe®ïision and inspection systems for safety and environmentalprotection;Inspecting safety hazards and implementation of precautiona®ñ measures;Conducting regular safety and environmental meetings to review and analyze theproduction safety status, and drawing lessons from recent safety incidents.

The HSE management group or the Work SafetyCommittee is responsible for:

Implementing tasks arranged by the leading group;Appointing safety sta®ã by team for the safety managementat grassroots level.

The HSE management group ordepa®îment is responsible for:

No major ®êres, explosions, signi®êcant production safety accidents,major equipment accidents, major occupational disease hazards,major environmental pollution incidents, leaks of hazardous chemicalsor major health and safety violations;Special equipment annual inspection and regular inspection passrates reached 100%;The rate of hazard recti®êcation reached 100%;

063064

Safety Culture Development

The Company has developed the Management Rules for the Implementation of Safety Training and Education and training plans and launchedsafety training activities covering all employees. This year, we developed special training courses on occupational hazard factors and protectivemeasures, safety and environment knowledge for freshman, ®êrst aid, and other knowledge for our employees, which enriched our safety andhealth training contents. We also invited professional ®êre®êghting authorities to train our employees on ®êre®êghting and safety knowledge. Inaddition, we conducted safety competence and ability assessment, expanded the number of employments with ce®îi®êcates, and regulated thesafety behaviors of all employees, creating a safety culture and values system that integrate knowledge and action.

Number of hoursof safety trainingconducted

461,045hours

During the repo®îing periodNumber ofpa®îicipations of safetytraining conducted

101,705

pa®îicipations

ZPC organized a safety skills competition to enhance employees' safety awareness and emergency response capabilities. Throughsafety knowledge quizzes, safety supe®ïision skill contests, ®êrst-aid operations (CPR+AED), and emergency response drills, thecompetition assessed employees' theoretical knowledge and practical skills in respect of processes and equipment. Besides, bysimulating ®êre-involved operation, ®êrst-aid operation and other scenarios, the competition comprehensively tested employees'safety skills and teamwork abilities.

Safety skills competition at ZPCCase

Emphasizing Occupational Health

Attaching great impo®îance to employees' physical and mental health, the Company strictly abides by laws and regulations such as the WorkSafety Law of the People's Republic of China, the Law of the People's Republic of China on the Prevention and Control of Occupational Diseases, theRegulations on Labor Protection in Workplaces Where Toxic Substances Are Used, and the Regulations on Occupational Health in the Workplace.Additionally, the Company has established internal policies, such as the Occupational Health Examination Management Measures, the OccupationalHazard Warning and Noti®´cation Management Measures, the Occupational Health Management Procedures, the Occupational Health RiskIdenti®´cation and Assessment Management Procedures, and the Employee Physical Examination Implementation Rules. These policies outlinerequirements for employee occupational health examinations, detection of workplace hazard factors, and other related matters. By continuouslyre®êning internal occupational health and safety systems, the Company is committed to safeguarding employees' health and safety through amulti-faceted approach.In 2024, Zhongjin Petrochemical successfully renewed its occupational health and safety management system ce®îi®êcate, while ZPC obtained anexpanded-scope occupational health and safety management system ce®îi®êcate from Beijing Sanxing (BSC) 9000 Ce®îi®êcation Body Co., Ltd. All ofour subsidiaries in operation have obtained ISO 45001 Occupational Health and Safety Management System ce®îi®êcate.

The Company regularly monitors and evaluates occupational disease hazards, organizes occupational health examinations for employees, andestablishes occupational health ®êles for them. Zhongjin Petrochemical has established an Occupational Health Management Leading Group andappointed full-time occupational health management personnel. The company engages third-pa®îy agencies to conduct occupational hazardstatus evaluation once eve®ñ three years, and pe®íorm annual monitoring and assessment of occupational hazard factors. For employees who areexposed to occupational disease hazards, the company provides them with pre-job, on-the-job, and o®ã-the-job physical examinations foroccupational disease.

Occupational health and safety management system ce®îi®êcates granted to the Company and some subsidiaries

Ö°Òµ½¡¿µ°²È«¹ÜÀíÌåϵÈÏÖ¤Ö¤Êé ×¢²áºÅ£º0350222S30316R2M ×È Ö¤ Ã÷ Õã½­ÓÀÊ¢¿Æ¼¼ÓÐÏÞ¹«Ë¾ ×¢²áµØÖ·£ºÕã½­Ê¡ÉÜÐËÊпÂÇÅÇø±õº£¹¤ÒµÇø¾µº£´óµÀ ͳһÉç»áÐÅÓôúÂ룺91330621MA2887DL53 ¹Ü Àí Ìå ϵ ·û ºÏ GB/T 45001-2020 / ISO 45001:2018 ±ê×¼ ¸Ã¹ÜÀíÌåϵÊÊÓÃÓÚ Ë«ÏòÀ­Éì¾Ûõ¥±¡Ä¤£¨Ðí¿ÉÒªÇóÄÚ£©µÄÉè¼Æ¡¢Éú²úºÍ·þÎñÒÔ¼°Ä¤¼¶¾Ûõ¥ÇÐƬÉú²úºÍ·þÎñ£¨Éæ¼°³¡Ëù£ºÕã½­Ê¡ÉÜÐËÊпÂÇÅÇø±õº£¹¤ÒµÇø¾µº£´óµÀ1ºÅ£©***
						°äÖ¤ÈÕÆÚ£º2022Äê11ÔÂ3ÈÕ ÓÐЧÆÚ×¿ÉÖÁ£º2025Äê10ÔÂ30ÈÕ×¢
								ÐËÔ­ÈÏÖ¤ÖÐÐÄÓÐÏÞ¹«Ë¾
								£¨±±¾©Êк£µíÇøÉϵØÈý½Ö9ºÅ¼Î»ª´óÏÃC×ù7²ã£©

Propo®îion of employeeswho received occupationalphysical examination

100%

During the repo®îing period

Propo®îion of employeeswith occupational health ®êles

100%

In June 2024, Zhongjin Petrochemical conducted an emergencydrill simulating a naphtha tank leakage and ®êre accident. The drillcovered various scenarios including alarm activation, rescueoperations, self-rescue using ®êxed ®êre®êghting systems, processcontrol measures, dispatch of professional ®êre®êghting teams fordilution and isolation ®êre suppression, reinforcement by external®êre®êghting forces, containment of dike-contained ®ìowing ®êres,and coordinated full-scale actions to extinguish ®êres on the tankroof. This exercise tested the capabilities of relevant depa®îmentsin emergency response under major leakage and ®êre incidents,evaluated the feasibility of emergency plans and specializedplans, and enhanced the company's overall emergency rescuepro®êciency in crisis scenarios.

Zhongjin Petrochemical conducts emergency drill for leakage and ®êre incidentCase

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065066

Policy Suppo®î

Our subsidiaries have developed managementplans concerning occupational diseaseprevention and control based on their businesspractices and potential risks, including thePlanning Procedures for Hazard Source and RiskAssessment and Control and the Summa®» forHazard Source Identi®´cation, Risk Assessment, andControl Planning.

Hazard Identi®êcationWe conduct annual hazard factor detection andmonthly routine monitoring in the workplace,and promptly inform the operation positions ofthe test results to create a favorable workplacefor employees.

Labor Protective Equipment

We distribute personal protective equipment asrequired and supe®ïise and inspect whether theyare used properly. Moreover, we have emergencyprotective equipment on demand and regularlycheck their e®ãectiveness.

Medical AssuranceWe have optimized the Company's medicalassistance system, prepared emergency ®êrst aidsupplies and contracted with hospitals formedical se®ïices for work-related inju®ñ, toensure the medical assistance to employees.Occupational Health Files

We car®ñ out pre-job, on-the-job, o®ã-the-job,and emergency physical examinations foremployees exposed to occupational hazards, andestablish relevant ®êles to monitor their healthstatus in real time.

Measures for occupational health management

Occupation Health TrainingWe organize awareness week campaigns onoccupational disease prevention and controllaw, and car®ñ out occupational health trainingfor all employees and contractors to enhancetheir protection awareness and skills.

In July 2024, ZPC launched initiatives to promote healthy lifestyles among employees. These included professional training onself-management of chronic non-infectious diseases, the issuance of the Initiative on Self-Management of Health, and theestablishment of 15 ¡°10,000 Steps Challenge¡± suppo®î groups for chronic disease inte®ïention. These e®ão®îs targeted employeeswith ®êve key health indicators: hype®îension, hyperlipidemia, hyperglycemia, hyperuricemia, and overweight. By the end of therepo®îing period, after six months of health management, 257 employees showed signi®êcant health improvements.In December 2024, ZPC launched a WeChat o®æcial account titled ¡°Be the First Responsible Person for Your Health¡±, featuring 15health management columns covering dieta®ñ management, mental management, exercise management, sleep management,smoking/alcohol cessation, and more, to provide targeted employees with resources for self-management of health.

ZPC assists employees in self-management of chronic diseasesCase

The Company is committed to promoting responsible and sustainable chemical management throughout the product life cycle. The Companystrictly complies with the Regulations on the Safety Administration of Hazardous Chemicals, the Regulation on the Administration of PrecursorChemicals, the Safety Code for Special Operations in Hazardous Chemical Enterprise, and other relevant national laws and regulations and hasdeveloped internal policies such as the Chemical Management Policy, the Management Regulations for the Safety Technology Instructions and SafetyLabels of Chemicals, and the Management Regulations for Hazardous Chemicals Storage, clearly regulating the safety management of research,production, distribution, storage, use, transpo®îation, disposal and other handling processes of chemicals. We also apply for or renew ourregistration ce®îi®êcates and safe production licenses for hazardous chemical products according to the procedures prescribed by the state. Forspeci®êc policies on chemical management, please refer to: Rongsheng Petrochemical Strengthens Chemical Management by Following the

Established Rules.

Chemical Safety ManagementChemical Management Policies

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

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The Company conducts a comprehensive su®ïey of all hazardous chemicals in accordance with laws and regulations such as the Measures for theRegistration and Management of Hazardous Chemicals and the Regulations on the Safety Management of Hazardous Chemicals, establisheshazardous chemical management records, registers with the local work safety supe®ïision and management depa®îments where it operates,continuously develops and improves safety operating procedures for the production, use, storage, distribution, and transpo®îation of hazardouschemicals, and accepts supe®ïision and inspections conducted by work safety supe®ïision and management depa®îments in accordance with thelaw. For other chemicals, the Company also carries out identi®êcation and assessment work in compliance with laws and regulations, establishesmanagement records, implements compliance management, and ensures the safety of personnel, prope®îy, and the environment.The Company, in accordance with the Administrative Measures for Chemical Safety Data Sheets and Safety Labels, has developed Chemical SafetyData Sheets (SDS) for all products and intermediate products, and updates them regularly. These SDS cover the uses, physical and chemicalprope®îies, impacts on health and the environment, usage procedures, risk management measures, regulato®ñ information, and classi®êcation andlabeling information of the chemicals. When developing the SDS, the company fully takes into account the requirements of international laws,regulations, and systems such as the United Nations Globally Harmonized System of Classi®´cation and Labelling of Chemicals, International Code forthe Construction and Equipment of Ships Car®»ing Lique®´ed Gases in Bulk, International Maritime Solid Bulk Cargoes Code, and International MaritimeDangerous Goods Code to ensure that customers are provided with comprehensive and e®ãective chemical safety information. We have disclosedthe SDS of our products on the company's o®æcial website, which can be viewed at Rongsheng Petrochemical Chemical Products Use and Regulato®»

Requirements.The Company conducts a ¡°Chemical Safety Status Assessment¡±eve®ñ three years for all chemicals used, pe®íorms chemicalidenti®êcation of their types and hazards, and develops a relatedmanagement ledger. We engage quali®êed third-pa®îy institute toprepare Material Safety Data Sheets (SDS) for all of our productsand intermediates and publish the SDS on the national¡°Comprehensive Registration Se®ïice System for HazardousChemicals¡± and the big data platform for the prevention andcontrol of hazardous chemical risks in the regions where oursubsidiaries are located. We request SDS from suppliers for all rawmaterials and 3 chemical agents (catalysts, solvents and additives)used by the Company. The SDS of all our subsidiaries are availableon our website, please refer to: Rongsheng Petrochemical Chemical

Products Use and Regulato®» Requirements.

Rongsheng Petrochemical Chemical Products Use

and Regulato®ñ Requirements.

Chemical Registration and Use

067068

The Company strictly adheres to state and local chemical catalogue, such as the Catalogue of the Work Safety Technology and Equipment ofOutdated Hazardous Chemicals to Be Eliminated (First Batch), and the List of Strictly Restricted Toxic Chemicals in China. We strengthen chemicalcontrol to ensure that our production and business activities do not involve chemicals that are explicitly prohibited, required to be eliminated, orreplaced by the state. Currently, none of the chemicals used by the Company involve substances on the national restricted list.In light of the Globally Harmonized System of Classi®´cation and Labelling of Chemicals (GHS), Manual of Tests and Criteria, Catalogue of HazardousChemicals, and other relevant regulations, the Company regularly conducts risk identi®êcation and hazard assessment for hazardous chemicals in itsproducts, as well as for chemical raw materials and reagents used in laboratories. The Company implements risk grading control and hidden dangerinvestigation and management, sets up storage facilities that meet the required conditions, provides safety education for relevant employees, andengages quali®êed third pa®îies to issue appraisal repo®îs. It actively identi®êes and addresses risks associated with the storage, production, use,disposal, and transpo®îation of chemicals. Additionally, the Company regularly repo®îs information on hazardous chemicals to governmentregulato®ñ platforms for supe®ïision.In addition, the Company is committed to bringing safer materials, products, and technologies to the market and closely monitors the use ofSubstances of Ve®ñ High Concern (SVHC). In 2024, Yongsheng Technology completed RoHS, REACH, and FDA compliance testing for its productsand re®êned its chemical list. ZPC established lists on restricted substances and substances of ve®ñ high concern as per RoHS and REACH regulations.Products potentially containing such substances were sent for professional RoHS and SVHC testing, with all sampled batches meeting regulato®ñstandards.The Company conducts life cycle assessments (LCA) for each stage of the product life cycle to identify substances that may pose risks to theenvironment and human health. It comprehensively evaluates the feasibility of alternatives, formulates phase-out plans, gradually implementssubstitution work, and monitors and assesses the e®ãects after substitution.

Hazard Assessment and Hierarchical Management and Control of Chemicals

This year, the Company has carried out the following work:

In the future, we will continue to car®ñ out screening and assessment of restricted chemicals for all chemicals to reduce the impendenceon materials that would have negative impact on environment or health being, and if it involves the use of nationally restricted chemicals,we will immediately stop using them and look for alternative low-impact chemicals.

Zhongjin Petrochemical has replaced sodium tripolyphosphate with low-phosphorus boiler water conditioners, ensuring thequali®êcation of all indicators while reducing total phosphorus emissions.ZPC has replaced the highly toxic coking inhibitor dimethyl disul®êde with environmentally friendly dibutyl polysul®êde, reducing theusage of dimethyl disul®êde by approximately 2,000 tons annually. It has also replaced the highly toxic diesel cracking catalysttriethylamine with liquid ammonia, reducing the usage of triethylamine by approximately 15 cubic meters annually, thereby reducingenvironmental and health impacts.ZPC's polycarbonate products are produced using the clean and environmentally friendly non-phosgene melt ester interchangemethod, which features full enclosure, no by-products, and vi®îually no pollution, fundamentally eliminating the use of the toxicphosgene raw material.

In 2024, to fu®îher enhance employees' awareness and response capabilities regarding chemical hazards and ensure the safety ofchemicals in procurement, storage, usage, transpo®îation, and waste disposal, Zhongjin Petrochemical conducted several specializedtraining sessions on chemical safety management via its online learning platform. These sessions included topics such as ¡°onedocument and one label and risk control¡±, ¡°hazard identi®êcation and risk screening¡±, and ¡°hazardous chemicals storage management(warehouse management)¡±. Each training session attracted over 800 pa®îicipants.

Zhongjin Petrochemical conducts chemical safety management trainingCase

The Company has developed the Special Emergency Plan for Leakage ofHazardous Chemicals. In response to potential leakage of hazardouschemical that are highly toxic, ®ìammable, or explosive, we have establishedcorresponding emergency plans. These plans clearly specify our emergencyorganization network and the responsibilities and response procedures of alldepa®îments under emergency response at all levels. We regularly organizechemical reagent leakage response training and chemical emergency drills,so as to strengthen employees¡¯ awareness of hazardous chemical risk. Forchemical management personnel, the Company posts ¡°Card of Remindersfor Hazardous Chemicals¡±, and requires them to wear labor protectiveequipment properly and master emergency response skills. We also providesafety management training and drills to enhance employees¡¯ knowledge ofchemical safety and reduce the risk of chemical spills.During the repo®îing period, no major chemical leakage incident or othersafety incidents occurred in the Company.

Chemical Leakage Accident Handling and Prevention

ZPC hazardous chemicals signs

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

069070

The Company practices the innovation-driven development strategy, steadily advances the construction of the innovation system and mechanism,and gains strategic insights into the development trend of the indust®ñ in a forward-looking mindset. We improve our ability to innovateindependently and conduct technological R&D to achieve a high level of independence. We spark the innovation enthusiasm and unleash thepotential of our employees, incubate the new momentum of doing scienti®êc research, fu®îher boost and vitalize new quality productive forces.

Strengthening R&D InnovationSafety Management of ContractorsAdhering to the principle of ¡°safety ®êrst, prevention prevails¡±, the Company requires contractors to comply with relevant national laws andregulations on work safety and corporate regulations such as the Safety Management Measures for Outsourcing Construction, the HSE ManagementProtocol for Contractors, the Management Systems for Contractors, and the Safety and Environmental Protection Assessment Rules for Contractors.Meanwhile, the Company conducts quali®êcation reviews on contractors and incorporates them into our safety management throughout the lifecyclefrom contract signing to project acceptance. The Company requires contractors to promptly rectify construction safety issues raised by theCompany, accept the Company's assessment or punishment, and strive to prevent and reduce safety accident.Moreover, the Company has fu®îher strengthened contractor management measures. Contractors' project managers are required to submit safetycommitments before work commences, committing to the implementation of on-site safety measures. These commitment documents are publiclydisplayed. Additionally, the Company mandates the placement of inspection QR codes at all worksites. Project managers from contractors andproject management units, as well as other professional management personnel at various levels, must conduct safety inspections at va®ñingfrequencies and scan the QR codes to digitally log compliance records. This system e®ãectively enforces safety responsibilities across all managementlevels and safeguards operational safety.

We sign the relevant HSE agreementswith our contractors before construction,including the Contractor's SafetyCommitment, the Incoming ConstructionSafety Accountabilitu Letter, and theProiect HSE Assurance Contract.Before construction, we conduct safety review for personnel,tools and equipment, ensure that contractors sign the SafetyEducation Record, and provide safety education and trainingfor contractor's management personnel and operators.Contractor's personnel are allowed to enter the site onlyafter obtaining the training ce®îi®êcate.

We assign dedicated safety engineers toconduct on-site inspections and evaluations,and issue recti®êcation notices for problemsidenti®êed, We terminate relationships withcontractors who have serious violations andrefuse to rectify them.

We regularly organize contractorsto car®ñ out emergency drills forhigh-risk operations.

We evaluate the contractor's pe®íormance onlinethrough ERP system. We hold regular HSEmeetings for contractors. We will inquire, educate,or punish contractors who are accountable foraccidents or commit serious violations or repeatedviolations.

We review the safety quali®êcations ofcontractors and verify their business licenses,quali®êcation ce®îi®êcates, and work safetylicenses and other quali®êcations. Fu®îhermore,we conduct systematic evaluation on ourcontractor's HSE management system.

Contractor safety management process

In 2024, ZPC focused on the engineering and construction phase, requiring contractors to improve emergency plans, stockpileemergency materials, and conduct emergency drills. Throughout the year, leveraging key dates such as the work safety month(June) and the 11.9 (November. 9th) ®êre safety day, the company organized a total of 27 emergency drills for contractors, simulatingscenarios like material leaks, ®êre emergencies, falls from heights, and sca®ãolding collapses. These drills validated the feasibility ande®ãectiveness of the emergency management system, enhanced contractors' emergency response and resolution capabilities, andreinforced safety lines for construction and operational activities.

ZPC strengthens emergency management system for contractorsCase

Innovation Mechanism andApplication of Innovation Achievements

The R&D center is responsible for work planning, construction of policies and evaluation system, application of patents and awards and others. Thesubsidiaries are responsible for the implementation of R&D projects. This year, we established the Dongjiang Innovation Center, a research platform,to coordinate and manage our research work. We have formulated the High-quality Innovation Management Regulations (For Trial Implementation).And our subsidiaries also launched suppo®îing innovation management mechanisms and measures, standardizing the application and reward ofscienti®êc and technological achievements. The subsidia®ñ sets special funds for innovation each year. We categorize innovation projects accordingto their di®æculty and yields, and provide ®ênancial suppo®î of di®ãerent amounts to them. Employees¡¯ contribution to innovation will be used as oneof the criteria for appraisal, promotion, and position transfer.

The Company adheres to the two-wheel driven scienti®êc and technologicalresearch and development model of ¡°independent innovation¡± and ¡°opencooperation¡±. We have built a ®êrst-class research and developmentplatform such as a high-tech research and development center, anacademician expe®î workstation, an enterprise technology center, and apostdoctoral research workstation. At the same time, we actively car®ñ outforeign technical exchanges and discussions, promote the integration ofindust®ñ, academia and research cooperation, integrate the resources ofuniversities, society, enterprises and other pa®îies, work together toimprove the level of scienti®êc research, promote technological progress,and jointly create an open, healthy, win-win innovation ecology.

millionRMB

personsR&Dinvestment5,101.48

During the repo®îing periodR&Dprofessionals3,842

First-class R&D platforms established by Rongsheng Petrochemical

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

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OperationalCompliance

Conse®ïingEcology

Quality andSafety

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Working Together forCommon Progress

071072

The Company strictly abides by laws and regulations such as the Law of the People's Republic of China on Product Quality, the Interim Measures forthe Administration of Supe®¹iso®» Spot Checks on Product Quality, and the Provisions on the Supe®¹ision and Administration of the Ful®´llment ofPrima®» Quality and Safety Responsibilities by Manufacturers of Industrial Products. At the group level, we have developed several qualitymanagement policies, including the Product Quality Risk Management Measures, the Quality Management Measures for Ex-facto®» Products and theQuality Management Regulations on Production Processes. Our all-round quality control with high standards and strict requirements covers theentire production process from raw and auxilia®ñ materials entering the facto®ñ, through intermediate production process management, to productdelive®ñ, packaging, and transpo®îation.The Company strictly implements our product standards, continuously strengthens our quality control standards against benchmark products in theindust®ñ and carries out production according to superior product indicators. We have set critical quality control nodes at the product design, rawmaterial procurement and production stages. We develop new products and new processes according to market demands and set strict qualityevaluation standards for raw material procurement, follow the principle of ¡°Five never letting go¡±4 in production and improve internal qualitymonitoring and testing mechanisms for more e®ãective quality control in the process. We ensure our product quality by adopting quantitativeassessment methods and setting up key indicators including the rate of quali®êed incoming raw materials, the rate of quali®êed semi-®ênished expo®îs,the rate of quali®êed outgoing products, and the rate of quality complaints. We actively collect suggestions and feedbacks from our customers.During the repo®îing period, the Company did not experience any major quality liability accidents related to products and se®ïices. ZhongjinPetrochemical completed the re-ce®îi®êcation of the GB/T 19001-2016/ISO 9001:2015 quality management system, with 14 products includingpetroleum benzene obtaining the quality management system ce®îi®êcation. Yongsheng Technology obtained the ISO 9001/14001/45001 integratedmanagement system ce®îi®êcation and the QS production license ce®îi®êcation. Rongxiang Chemical Fiber obtained the ISO 9001:2015/ISO14001:2015 ce®îi®êcation. Yisheng Dahua obtained the ISO 9001 ce®îi®êcation.

4 ¡°Five never letting go¡±: The accident handling process will not end until the cause of the accident is clear, the responsible person is dealt with, the recti®êcation measures areimplemented, the responsible person and other employees are educated and the claim is settled.

Enhancing Quality Management

The Company strictly abides by the Patent Law of the People's Republic of China, the Trademark Law of the People's Republic of China, theCopyright Law of the People's Republic of China and other laws and regulations. We have developed and implemented internal policies, includingthe Intellectual Prope®¸y Management Regulations, the Intellectual Prope®¸y Management Measures, the Polyester R&D Project ManagementMeasures and the Patents Management Measures. By conscientiously managing the application, con®êdentiality and protection of intellectualprope®îy rights, we ensure the e®ãectiveness of our policies on intellectual prope®îy rights.We prioritize the protection of our own intellectual prope®îy rights and also emphasize the lawful and compliant use of others' intellectual prope®îyrights. For intellectual prope®îy rights protection, we implement a classi®êed management system for con®êdential information. New employees arerequired to sign the Con®´dentiality Agreement upon onboarding, while depa®îing employees are subject to a con®êdentiality clearance process.Additionally, non-compete agreements are in place with our core management and technical sta®ã when necessa®ñ. We actively conductintellectual prope®îy rights registration, ®êling, and rights con®êrmation procedures, enter into technology licensing or transfer contracts, and dulypay the licensing fees to ensure lawful utilization of third-pa®îy intellectual prope®îies. The Company prudently utilizes third-pa®îy patents, strictlyimplements employee con®êdentiality management obligations, and rigorously controls the disclosure of others' trade secrets to third pa®îies. Wealso provide intellectual prope®îy rights protection training to employees, and constantly enhance employees' intellectual prope®îy protectionawareness, ensuring that our intellectual prope®îy rights are not violated while respecting and avoiding infringement of others' intellectualprope®îy rights.

Protection of Intellectual Prope®îy Rights

As a member of the National Chemical Fiber Indust®ñ Standardization Committee, we have led and pa®îicipated in the formulation of a number ofproduct indust®ñ standards. To facilitate the application of innovation achievements, we have strengthened our achievement application mecha-nism, the feasibility study and selection and evaluation of scienti®êc research project to identify promising research projects, actively suppo®îing theindustrialized project productions with promising futures. Some of the research and innovation achievements of the subsidiaries for 2024:

The research project ¡°Key Technologies and Equipment for EnergyConse®ïation and Consumption Reduction in High-CarbonIndustries¡±, jointly developed by Zhongjin Petrochemical withZhejiang University and Hangzhou Dalu Industrial Co., Ltd., hasbeen successfully approved as a Zhejiang Provincial Leading Projectfor Leading Goose Program.ZPC led the project ¡°Research on Direct Depolymerization ofWaste Plastics to Chemicals¡±. The team has completed thedesign and synthesis of catalysts for plastic depolymerization,independently developed a molecular sieve catalyst andconstructed a continuous waste plastic depolymerizationexperimental facility. Process optimization tests demonstratedthat waste polyole®ên plastics can be e®æciently conve®îed intohigh-value chemicals via catalytic depolymerization, achieving arecycling rate exceeding 90%. This technology signi®êcantlyreduces plastic waste pollution and maximizes resourceutilization. The project is currently in the laborato®ñ researchphase. Upon actual operation, the project is expected togenerate additional annual output value of RMB 3 million.

Zhongjin Petrochemical collaborates with Tongji University todevelop a new catalyst and suppo®îing process throughindust®ñ-academia-research synergy, signi®êcantly improving thepurity and stability of isopentane. The achievement enablescontinuous stable operation for 2,000 hours, meeting the solventrequirements for high-pe®íormance resin materials. Thebreakthrough addresses technical challenges related to low ole®ênand moisture content in isopentane, enhances product economicbene®êts, and strengthens market competitiveness.ZPC has successfully addressed the three major challenges inindustrializing photovoltaic-grade EVA resin: high VA content,high melt index, and complex operational conditions. The resinexhibits superior light transmittance, UV resistance, andhygrothermal yellowing resistance, meeting the stringent opticaland durability requirements for photovoltaic module ®êlms. Thecompany's photovoltaic-grade EVA resin has been adopted byleading photovoltaic ®êlm manufacturers, achieving impo®îsubstitution.

Quality management system ce®îi®êcates granted to the Company and some subsidiaries

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

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Patentapplications

piecesMaterial intellectualprope®îy rightsinfringement

case

During the repo®îing period

InventionPatentApplications

pieces

piecesAuthorizedpatents

Utility ModelPatentApplications

pieces

AuthorizedInventionPatents

pieces

piecesAuthorizedUtility ModelPatentsValidpatents

pieces

074073

Rongsheng Petrochemical adheres to the development philosophy ofpeople-oriented and win-win cooperation. We actively respond to the expectationsof internal and external stakeholders to foster shared growth across all pa®îies. TheCompany prioritizes employee value, providing comprehensive suppo®î for careerdevelopment to achieve mutual advancement between the organization and ourworkforce. Regarding supply chain management, we are committed to buildinghigh-quality pa®înerships with enterprises in our supply chain, driving e®æcient andsustainable production and operations, and delivering better products and se®ïices toour customers. Meanwhile, the Company actively engages in social public welfareinitiatives and suppo®îs the development of surrounding communities, striving tofoster harmonious corporate-community relations.

Working Together inHarmony for Common Progress

075076

077078

Protecting Employees' Rights and Interests

Recruitment and Employment

We strictly abide by the Labor Law of the People's Republic of China, the Labor Contract Law of the People's Republic of China, the Regulations onWork-related Inju®» Insurances, the Provisions on the Prohibition of Using Child Labor, and the Regulation on the Employment of Persons withDisabilities and other related laws and regulations. We have developed internal rules and regulations in this regard, including the RecruitmentManagement Measures, the Human Resources Management Regulations, and the Recruitment Handbook, which are subject to continuousimprovement and updating. They standardize the management of recruitment requirements, recruitment channels, recruitment processes, talentevaluation, and others to safeguard the equal employment and the legitimate interests of employees.The Company complies with the Labor Law of the People's Republic of China and other relevant regulations in recruitment. We adhere to openrecruitment processes and standards, ensure that the recruitment information is true and accurate, and strictly keep the privacy information of jobapplicants con®êdential, safeguarding their rights and interests. We maintain a strict zero-tolerance attitude towards child labor and forced labor.We clearly state that no one under the age of 16 shall be recruited, and ®êrmly forbid and reject all types of forced labor. We treat employees ofdi®ãerent nationalities, ethnicities, races, genders, religious beliefs and cultural backgrounds equally. We provide auxilia®ñ jobs for the disabled tomeet their employment needs. We are committed to providing our employees a healthy and equal workplace, resolutely rejecting any so®î ofemployment discrimination and harassment, and ensuring that employee interests are not violated. In 2024, the Company had no violations interms of employee hiring.

The Company creates a school-enterprise cooperation model with top universities to achieve systematic talent cultivation andpromote the collaboration between industries, universities, and research institutes. In 2024, we hosted corporate internships forstudents from Zhejiang University, East China University of Science and Technology, and other institutions, aiming to identify andcultivate talents with innovative mindsets and practical competencies. This initiative bridges the gap between academic theo®ñ andreal-world application, enabling students to enhance their employability through hands-on experience while exploring tailoredcareer development pathways.

School-enterprise cooperation empowers innovationCase

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Total number ofemployees

19,077

persons

personspersons

During the repo®îing period

Social insurancecoverage

100%100%

Propo®îion ofemployees signinglabor contractsNumber ofmale employees

14,868

Number offemale employees

4,209Number ofemployees aged30 and below

4,984

Number ofemployees aged31 to 50

12,1831,910

Number ofemployees aged51 and abovepersonspersonspersons

To enhance summer labor protection and heatstroke prevention for employees, thelabor union of Zhongjin Petrochemical visited frontline workers during the peak heatperiod in 2024. They reminded employees to take necessa®ñ safety precautions inextreme weather conditions and distributed cooling beverages and fruits to ensuretheir well-being.

Zhongjin Petrochemical extends hea®îfelt cares tofrontline employees working in high temperaturesCase

Types of bene®êts for Rongsheng Petrochemical employees

Remuneration and Bene®êts

The Company has developed and improved the Rules for Implementation of Remuneration Accounting and Payment and the Rules forImplementation of Employees' Insurance Management and other remuneration and bene®êt regulations. The Company duly pays employee wages,makes mandato®ñ social insurance contributions, and distributes annual pe®íormance-based bonuses in accordance with the Company'spe®íormance evaluation framework. The Company conducts annual peer compensation assessment and research, making eve®ñ e®ão®î to provideemployees with competitive remuneration and bene®êts, so as to enhance the Company's attractiveness and retain talents. In addition to statuto®ñbene®êts such as ¡°®êve insurances and one housing fund¡± and holidays, we provide a diversi®êed combination of bene®êts and subsidies to enhanceemployees' sense of happiness and satisfaction based on the Employee Welfare Measures and other policies. During the repo®îing period, wepurchased commercial insurance for all employees and their children.

millionRMB

millionRMBExpenditure oncompany-fundedphysical examination

3.3412.62

Expenditure onholiday gifts foremployees

HealthWe provide physical examinations for employees and deliver mental

health lectures.CommunicationsWe subsidize employees' communication costs.LeavesWe provide adequate leaves for female employees duringpregnancy, maternity, and breastfeeding, as well as paternity leavefor male employees;We provide employees with holiday allowances and gifts.Transpo®îationWe provide shuttle bus and other se®ïices for employees.EducationWe set up a reading room.We invest in schools for the children of non-local employees.Canteen anddormito®ñ

We provide free work meals and meal subsidies for employees£»

We construct employee apa®îments and sta®ã buildings, and

provide rental subsidy and interest-free loan for house purchase.CaringWe provide high-temperature allowance to employees and visit

families in di®æculties.

079080

The Company strives to build equal, diverse, and smooth communication channels foremployees. The Company has established a labor union and holds the employeerepresentative meeting annually to discuss about employees' concerns and collect theiropinions and demands. This enables the pa®îicipation of employees, and thereforeensures democratic decision-making. We have built a bridge between employees andmanagement through the 900123 employee hotline, online employee communicationgroup, satisfaction su®ïey and other communication channels, which enables us toaddress employees' issues and help them solve problems in a timely manner.

Employee Communication

The Company values the personal development of its employees, and has established a robust career development system to evaluate the workpe®íormance of employees in a scienti®êc and fair manner. The Company has formulated several career development and appraisal documents,including the Appraisal Measurements for Management and Technical Personnel and the Job Appraisal Instructions for Front-line Employees. Thedirect leaders of each depa®îment conduct the regular appraisal and annual appraisal to evaluate the pe®íormance of employees comprehensivelyand reasonably. The high-pe®íorming employees are rewarded sho®îly after the appraisal.The Company divides the employees into the categories of profession and management, and provides them with appropriate career paths basedon their capabilities, to maximize their strengths. On one hand, the career path of profession is fu®îher divided into the categories of engineeringtechnology and functional suppo®î. On the other hand, corresponding management positions are arranged in the management career path tosuppo®î profession positions, to realize the collaborated management across di®ãerent career paths. Within the two career paths (management +profession), the Company adjusts employees' promotion eve®ñ year based on business operation and employee appraisal to provide them withmore diversi®êed growth oppo®îunities. The Company selects employees for some positions through internal recruitment, providing them withmore oppo®îunities for growth and development. The internal recruitment process includes resume screening, professional ability test,comprehensive quality inte®ïiew, background check, and public announcement of the employment results. These steps ensure the suitability ofemployees for the positions and the fairness and transparency of the selection process.In order to improve the professional competitiveness of employees, promote their career development and enhance the core competitiveness ofthe Company, the Company and its subsidiaries have applied for and obtained the quali®êcation for independent ce®îi®êcation of vocational skills.The ce®îi®êcates of vocational quali®êcations issued by the Company are widely recognized by all positions of the petrochemical and chemical ®êberindustries in China. Therefore, employees' skills are obviously improved, which lays a solid foundation for the sustainable development of theCompany. We provide training to employees according to the business development needs of each sector of the Company. In 2024, the Companyfocused on building a ¡°Point-Based Training System for Pre-Job Quali®êcation Ce®îi®êcation¡±. Based on the requirements of junior positions in eachsubsidia®ñ, and leveraging both internal and external resources, the Company developed 2,693 courses and corresponding question banks for 818junior positions, covering multiple professional ®êelds, with training coverage reaching 100% of employees . The training system provides employeeswith more targeted learning oppo®îunities, which was tailored to ®êt the job quali®êcation requirements, relying on internal and external resources todevelop various job training course packages to reduce repeated training£¬ helping the Company set a benchmark for training system in thepetrochemical indust®ñ.

Talent Development

Total investment inemployee training5

During the repo®îing period

In 2024, ¡°Rongsheng Learning and Testing Platform¡± was o®æcially launched. The platform integrates teaching, assessment, andmanagement functions. It stores tens of thousands of courses and can suppo®î up to 5,000 users for simultaneous online learning,thus enhancing the training e®æciency. ¡°Rongsheng Learning and Testing Platform¡± was a tailored platform developed by theInformation Depa®îment of Rongsheng Holding to meet the Company's training needs. It has saved expenses associated withthird-pa®îy development and operation and maintenance, and reduced the costs for training course development and trainingmanagement.

¡°Rongsheng Learning and Testing Platform¡± was launchedCase

ZPC Re®êning and Aromatics Division, Normal Reduced Pressure Operation Depa®îment, Class A was awarded the honora®ñ title of¡°National Workers' Pioneer in 2024¡±.Two ZPC employees were awarded the honora®ñ title of ¡°Zhejiang Craftsman¡±.ZPC employees pa®îicipated in the Zhejiang Provincial Vocational Skills Competition for Instrument and Meter Assembly andAdjustment Workers, and won the ®êrst group prize and the second individual prize.Zhongjin Petrochemical employees pa®îicipated in the Zhejiang Province Competition of the Console Operators of ChemicalProduction, and won the third individual prize and the third group prize.Zhongjin Petrochemical employees pa®îicipated in the Zhejiang Province Chemical Inspector Competition, and won the secondindividual prize.

Rongsheng Petrochemical won multiple vocational skills awardsCase

ZPC Re®êning and Aromatics Division, Normal Reduced Pressure Operation Depa®îment, Class A was awarded

the honora®ñ title of ¡°National Workers' Pioneer in 2024¡±

5 The Company's total investment in employee training, pa®îicipants in employee training, and total number of employee training sessions in 2024are from the statistics of Rongsheng Holding.

In 2024, the subsidiaries of Rongsheng Petrochemical endeavored to improve the skills of their employees,and received several honors:

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

3.93

millionRMB

Pa®îicipations inemployee training5268,575pa®îicipations

Total number ofemployee training sessions53,891

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We are dedicated to car®ñing out customer management in a standardized and e®ãective manner, and have developed customer managementmeasures according to our business attributes and customer characteristics, maintaining regular and close contact with customers. RongshengPetrochemical has formulated the Detailed Rules for the Implementation of Price Management of Polyester Products and the Detailed Rules for theImplementation of Rebate Management of Polyester Products to standardize product pricing methods. The Company has formulated theAfter-Sales Se®¹ice Management Measures to standardize the after-sales se®ïice management process and improve customer satisfaction. Wehave established multi-level and diverse customer se®ïice communication channels such as communication with business representatives, ®êeldvisits, face-to-face talks, online questionnaires, telephone, WeChat and email. In this way, the Company may communicate more frequently withits customers in detail in the event of changes in plant operations, market conditions, and other circumstances. Attaching great impo®îance tocustomer complaints and feedback, the Company strives to keep e®ãective complaint channels, optimize the complaint mechanism, strengthencomplaint analysis to handle customers' requests in a timely manner, and actively investigate for the cause and conduct recti®êcation. For theproblems repo®îed by the customers, the front-line business personnel and professional technicians cooperate to ensure that the complaints are100% handled. Meanwhile, the Company regularly conducts customer satisfaction su®ïeys. For di®ãerent customer groups who purchase variousproducts, we design di®ãerentiated questionnaires that cover aspects such as product quality, product delive®ñ, se®ïice quality, and complainthandling, in an e®ão®î to obtain customers' opinions and suggestions. The Company closely monitors and tracks the complaints and suggestionsreceived, and formulates measures to address them, thereby continuously improving the quality of its products and se®ïices.

Customer Se®ïices

The Company always centers on customers, continues to improve the se®ïice management system, and actively responds to their variousdemands. We improve customer se®ïice quality and e®æciency in multiple dimensions, strictly protect customer privacy and information security,to improve customer satisfaction.Striving for High-Quality Se®ïices

The Company has set up assistance funds to provide employees with timely assistance when they are a®ãected by disasters, serious illnesses, and®ênancial di®æculties. In this way, we alleviate di®æculties caused by special reasons when our employees are in need. Also, the Company pays closeattention to the needs of female employees and actively provides them with suppo®î, assistance and care, aiding them in achieving their careeraspirations. For retired long-se®ïing employees, we award them with customized silver coins as a token of appreciation and souvenir, in additionto the statuto®ñ employee bene®êts and entitlements. To create a hea®îwarming and harmonious enterprise, we put ourselves in the shoes ofemployees and strive to provide what they truly need.We also provide a rich variety of cultural activities for all employees. This enhances cohesion among employees, helps them relieve stress, andguides them to face their daily life and work with a positive and relaxed attitude. The Company organized various activities for employees in 2024:

Care for Employees

Zhongjin Petrochemical held the activity of makingQingtuan during the Qingming Festival

CaseAs the Qingming Festival approached in 2024, ZhongjinPetrochemical organized employees to make Qingtuan byhand. Using mugwo®î dough, bean paste, and salted egg yolkprepared in the kitchen, employees made Qingtuan with avariety of ®êllings, which was quickly snapped up as soon as itwas steamed. The activity brought employees closer together,enriched their leisure life, and enhanced their sense ofbelonging.

The activity of making Qingtuan during theQingming Festival at Zhongjin Petrochemical

On Women's Day, the Company sent souvenirs to allfemale employees to thank them for their contributions tothe development of the Company.When the heat in summer got intense, the Companyorganized a series of consolation activities to sendpersonal care items to employees who worked in the hightemperature.We organize spo®îs events such as badminton matchesand tug-of-war, and festival activities such as makingQingtuan (sweet green rice balls) during the QingmingFestival and making mung bean cakes during the DragonBoat Festival.

The Company won the honora®ñ title of ¡°O®æcial Suppo®î Unit of Games of Zhejiang Province¡±

Group activities

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Working Together forCommon Progress

081082

The Company has developed sales management systems and measures such as the Marketing Management System, the Sales ManagementSystem, the Detailed Rules for the Implementation of Price Management, the Detailed Rules for the Implementation of Control of the Sales OperationProcess and the After-Sales Se®¹ice Management Measures. By implementing these systems and measures, we guide and constrain the entire salesprocess.The Company has established an e-commerce platform consisting o®æcial website, WeChat o®æcial account and WeChat mini-program, for theprocurement and sales of materials. Customers can place sales orders, check relevant announcements and keep up with market informationthrough the platform. The platform operates on the principle of competitive bidding for materials transactions and automatically matches dealsthrough electronic bidding, which can run in multi channels 7/24 and allow real-time monitoring. It breaks the limitations of transaction time,location, and operating methods, making customer procurement more convenient, doubling the manual e®æciency, achieving a 700% increase inauction sales, and thus reducing the centralized procurement cost. In 2024, the turnover of products through the platform was about 6.656 milliontons, and the procurement of logistics se®ïices was about RMB 1.461 billion.The Company pays close attention to product price information, strengthens market research, and promptly adjusts the sales strategy accordingto market changes to continuously meet market demands. The Company has also established well-organized ®êles of customer credit. We payattention to changes in customer credit and take e®ãective measures to manage and control customer credit risks. To make overall improvement inthe ability of our sales personnel, we organize sales personnel to car®ñ out workshop internships for them to understand the pe®íormance ofproduct equipment, usage scenarios, production processes and other details on site, so that they could better introduce products to customers. Inaddition, the Company conducts various forms of training for sales personnel to enhance their professional ability and business ethics, such asorientation training, and integrity and self-discipline training.

Sales Management

The Company has formulated a strict supplier access process, based on which, the information of suppliers, including supplier pe®íormance, qualitymanagement, work safety, environmental protection and contract pe®íormance, is reviewed thoroughly to ensure the product and se®ïice quality ofsuppliers. The Company takes environmental protection as an essential consideration for the selection of suppliers and learns about the suppliers'pe®íormance on ful®êlling their responsibility in environmental protection. The Company does not pa®îner with suppliers with a histo®ñ of majorenvironmental pollution penalty and prioritizes the suppliers with better environmental pe®íormance.The Company has newly revised the Regulations on the Management of Suppliers to detail the supplier access and management process: the Company hascategorized the supplier access criteria as general and special criteria according to the applicability of related business, and pe®íorms quali®êcation checkingand veri®êcation for new suppliers requesting for joining the supplier database. All suppliers will be categorized into the blacklist, graylist and whitelistaccording to the results of quali®êcation review and transaction evaluation.To address the corruption related to suppliers, the Company signs the Letter of Integrity Responsibility and Commitment with suppliers and adds a clause onthe prohibition of commercial bribe®ñ, which clearly requires both pa®îies to strictly abide by the anti-commercial bribe®ñ laws. The Letter prohibitscommercial bribe®ñ in contract discussion, negotiation, signing, ful®êlment and other processes, and clearly lists the repo®îing channels and handlingdepa®îments.

Review and Access

The Company conducts the supplier evaluation at least once a year, which covers topics such as delive®ñ quality, delive®ñ time or progress, after-salesse®ïice, and HSE. The evaluation results are classi®êed into four levels from high to low: A, B, C, and D, based on which three types of supplier lists, namelythe blacklist, the graylist, and the whitelist, are formed. For blacklisted suppliers, the Company will terminate business with them. For grey listed suppliers,the Company will put forward recti®êcation requirements or set cooperation restrictions. The Company's contracts with suppliers include requirements onbusiness ethics, environmental protection, and safety. We urge suppliers to comply with and implement such requirements, and incorporate related aspectsinto the follow-up evaluations of suppliers. The Company regularly publishes a list of untrustwo®îhy suppliers and refuses to cooperate with them.

Assessment and Evaluation

Through telephone calls, video conferences, on-site inspections and other methods, the Company maintains a good communication with its suppliers inorder to understand the price trend of their upstream raw materials, as well as their shutdown and overhaul plan, sales direction and changes in salesvolume. By doing so, we can forecast the subsequent trend of procurement prices and update the procurement plan, and make targeted improvementsuggestions for suppliers based on our use of their products. When necessa®ñ, we actively provide relevant technical guidance or training to suppliers.The Company provides assistance for suppliers by strengthening the suppo®î and promotion of agricultural products from local and pove®îy-stricken areas.We give priority to local tea, potte®ñ, and silk products in purchasing and o®ãer product trials to local suppliers. After passing the trial, they will be invited topa®îicipate in the Company's bidding.

Communication and Assistance

The Company actively promotes IT construction and enhances the awareness of information security and con®êdentiality in accordance with the ITManagement Regulations, the Management Measures for O®°ce IT Systems, the IT Emergency Response Plan, the Backup and Recove®»Management Plan, the Management Speci®´cation for Malicious Code Prevention, the Management Speci®´cation for System Security and otherinternal policies. We car®ñ out the security management of computer equipment, data, system operation and IT system access authority, customerprivacy protection, and other work, and standardize IT emergency responses, with an attempt to continuously improve our ability to protectinformation security. To safeguard customer privacy data, we have implemented a range of measures, including the deployment of networksecurity devices, enc®ñpted data transmission, and timely detection and patching of vulnerabilities, to ensure data security. In addition, we haveestablished a sound data backup system and regularly conduct data recove®ñ drills.The Company o®ãers mandato®ñ courses on Network Security Training for new employees, arranges tests for employees in positions related toinformation security management, and requires relevant employees and software se®ïice providers to sign the Con®´dentiality Agreement. We alsoenter into cybersecurity se®ïice contracts with external cybersecurity se®ïice providers to fully ensure information security.In 2024, the Company did not experience any information security incidents, or any incidents of customer privacy leakage.

IT Construction

The Company is committed to establishing a responsible supply chain, enhancing the compliance management of suppliers, and optimizing thesupplier management process. We maintain an equal, mutually bene®êcial, close, and stable cooperative relationship with excellent suppliers, andwork with suppliers to create a positive, clean, transparent, and responsible supply chain ecosystem.The Company strictly abides by the Bidding Law of the People's Republic of China and the Regulation on the Implementation of the Bidding Law ofthe People's Republic of China and other laws and regulations. We have established and improved internal systems and measures for tendering,sourcing, and supplier management, including the Detailed Rules for the Implementation of Tendering and Bidding Management and theRegulations on the Management of Suppliers. We continue to standardize suppliers' risk control mechanism and optimize the supplier biddingmechanism, supplier access system and suppliers pe®íormance evaluation mechanism, and ensure compliance in the whole process of bidding,sourcing, acceptance and payment, to realize the fairness, openness, and transparency of bidding and procurement, and prevent illegal sourcing.The Company places great emphasis on managing supply chain risks. We strictly adhere to the Group's procurement management system andprocures materials according to the production and maintenance plan based on technical requirements. The Company, based on the procurementcycle of materials, clari®êes the arrival time and requisition time of the required materials for planned requisition, so as to prevent supply disruptioncaused by materials sho®îages during production. In addition, the Company actively promotes the ¡°substitution of domestic materials for impo®îedmaterials¡±. We seek out high-quality domestic suppliers to conduct trials and usage of domestic materials, thereby reducing the risk of monopolyby foreign materials suppliers.

Practicing Responsible Sourcing

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Process of IT emergency response

Entity of theincidentEmergencyleading groupEmergencyleading groupo®æce

Repo®îing the incident

Emergency reception

of the repo®î

Emergency

initiation

Emergency

initiationEmergency

handling

ExpandingEmergencyControllingthe situation

Not initiating the emergency plan

NO£¨not at Level ¢ó or above)

YES£¨at Level ¢ó and above)

YES

NO

YES

NO

Emergencyworking group

Emergencyconcluded

Resumption

Lifting theEmergencyNot initiating theemergency plan

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Conse®ïingEcology

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083084

Medical Assistance

The Company advocates for public welfare, actively organizes charity donations and sharesdevelopment achievements with the society. The Company mainly focuses on school-enterprisecooperation, education assistance, medical assistance, suppo®î-oriented procurement, pove®îyrelief and care for disadvantaged groups and encourages employees to pa®îicipate in variousvolunteering activities, including blood donation and on-site visits. The employees car®ñ forwardthe volunteering spirit and continue to promote the healthy development of public welfareunde®îakings and the community, and actively spread civilized and harmonious social trends. In2024, Zhejiang Federation of Indust®ñ and Commerce awarded Rongsheng Petrochemical thetitle of ¡°Top 100 Zhejiang Private Enterprises in Social Responsibility for 2023¡±. We also receivedhonors such as the ¡°Demonstration Unit for the Construction of Clean Private Enterprises inHangzhou¡±, ¡°Demonstration Unit for Favorable Business Environment with Business ProsperityThrough Honest and Clean Practices¡±, ¡°Advanced Unit for Volunta®ñ Blood Donation in XiaoshanDistrict for the Year¡±, and the ¡°Yangtze River Delta Charity Star¡± of the third selection activity.

Building a Better Community

Public welfare activities in the community

Public welfaredonation

Duration ofvolunteer activities

During the repo®îing period

Education Assistance

Rongsheng Education Reward Fund has been in operationfor 22 consecutive years. In 2024, the Company issued aneducation reward fund of RMB 1.5 million, which meant thatthe accumulative amount of the fund reached RMB 17.28million, and a total of 5,085 outstanding teachers andstudents were rewarded.We launched the Xingzhi Academy (Xingzhi Class, XingzhiStudents) scholarship program, which is themed on¡°Practicing with Diligence and Studying Hard to RealizeDreams¡±, and donated RMB 500 thousand.We donated RMB 800 thousand to the ¡°Suppo®îingStudents in Chasing Dreams¡± scholarship program for 100underprivileged university students.We invested RMB 200 million to establish the ¡°ZPC DaishanEducation Fund¡±.

Rural Revitalization

We carried out the enterprise-village/town pairing activities anddonated RMB 200 thousand to the Eshan She Ethnic Townshipin Tonglu, Hangzhou City, for the rural revitalization action.We organized Pa®îy members and cadres to provide pairedassistance to children in the mountainous areas of Liupanshui,Guizhou. Over the past 7 years, we have helped approximately30 children.We purchased agricultural products such as rice, edible oil, andpomegranates from Liangshan Yi Autonomous Prefecture inSichuan as ingredients for our canteen and seasonal bene®êtsfor employees. The total procurement amount in 2024 reachedRMB 533,620.We donated RMB 20 thousand to Xiaolong Village, ChatianTown, Longquan City, to address livelihood issues, includingeducation.We have established the ¡°Health Care Fund for Yinong¡±. Weuse the fund to hire provincial, municipal and district medicalspecialists from various disciplines to provide year-roundmedical care in the town at various periods, and suppo®îlocal health centers to increase the number of ambulancesto se®ïe local residents and assist families or individuals hitby serious illnesses in Yinong. In 2024, we donated RMB 1.5million to the Health Care Fund for Yinong.We donated RMB 1 million to the ¡°Rongsheng Health CareFund for Tibetans¡± program to help Sichuan and Tibetanfamilies in need of surgical treatment.

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

17.30

millionRMBhours

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Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

Care for Police CommunityWe donated RMB 800 thousand to show our care for thepolice o®æcers and auxilia®ñ police o®æcers on the front line.We established the ¡°Police Care Fund¡± and donated RMB 500thousand in 2024.We donated RMB 1.3 million to the Daishan County PoliceAssociation for purposes of consolation, relief, and culturebuilding.

To help Tibetan disadvantaged families in Tibet and Sichuan and contribute to the East-West medical collaboration, the Companysigned a three-pa®îy agreement with Charity Federation of Xiaoshan District and Xiaoshan Hospital of Traditional Chinese Medicinein 2022. From 2022 to 2024, we donated RMB 3 million to the charity federation. Meanwhile, we established the ¡°Rongsheng HealthCare Fund for Tibetans¡± program to provide assistance to patients in need of surgical treatment.

¡°Rongsheng Health Care Fund for Tibetans¡± programCase

The Company has been running programs for volunta®ñ blood donation for nearly 20 consecutive years, and employees from alldepa®îments have taken active pa®î in the programs. This year, 100 quali®êed volunteers from the Company and its subsidiaries suchas Zhongjin Petrochemical donated over 27,700 mL of blood in total. In April 2024, the Company received the honora®ñ plaque of2023 Outstanding Enterprise of Volunta®ñ Blood Donation in Xiaoshan District.

Volunteer blood donation by Rongsheng Petrochemical employeesCase

Rural RevitalizationInvestment Amount

1.75

millionRMB

085086

With robust momentum for growth and unremitting e®ão®îs, we are well-prepared to overcome challenges and achieve breakthroughs. Looking ahead to2025, Rongsheng Petrochemical will unwaveringly follow the guideline of high-quality development and embark on a new journey towards thedevelopment of new quality productive forces. While upholding the principle of integrity, the Company will continuously improve the quality of its productsand se®ïices, actively explore new areas of innovation, and increase investment in scienti®êc and technological research and development. Amidst the waveof green, digital and intelligent transformation, we will continue to deepen our advantage in re®êning-petrochemical integration, fu®îher optimize ourindustrial chain layout, and fully promote technological innovation and industrial upgrading. As one of the enterprises from the pillar industries of thenational economy, we will maintain a strong sense of responsibility and commitment and ful®êll our social responsibilities. We will also repay theshareholders and investors with practical actions and contribute to sustainable economic and social development. We are set to foster extensivepa®înerships and unite with all stakeholders. With conce®îed e®ão®îs, we can contribute more to the prosperity and progress of the indust®ñ. Together, wewill compose a magni®êcent chapter in 2025.

Future Prospects

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

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Company's Name

ISO 14001(Environmental Management

System Ce®îi®êcation)ISO 50001

(Energy ManagementSystem Ce®îi®êcation)

ISO 45001(Occupational Health & SafetyManagement System Ce®îi®êcation)

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Rongsheng Petrochemical Co., Ltd.Zhejiang Petroleum & Chemical Co., Ltd.Ningbo Zhongjin Petrochemical Co., Ltd.Yisheng Dahua Petrochemical Co., Ltd.Zhejiang Yisheng New Materials Co., Ltd.Zhejiang Shengyuan Chemical Fiber Co., Ltd.Zhejiang Yongsheng Technology Co., Ltd.

ISO System Ce®îi®êcation Statistics of the Company

087088

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

Appendix

About RongshengPetrochemical

Working Together forCommon Progress

Independent Assurance Repo®î

089090

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

091092

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

About theRepo®î

Chairman'sMessage

OperationalCompliance

Conse®ïingEcology

Quality andSafety

AppendixAbout RongshengPetrochemical

Working Together forCommon Progress

Index

ContentsGRI Standard Index

GRI2/GRI3Chairman's MessageAbout the Repo®î

/GRI2

AboutRongshengPetrochemical

About Us/

GRI2/GRI3/GRI201Market Structure/Core Competitiveness/Recognition/Remuneration Appraisal/Materiality AssessmentESG GovernanceEnsuringOperationalCompliance toEnhance GrowthStrength

Corporate GovernanceGRI2Information DisclosureManagement

GRI2Investor RelationsManagement

GRI2Business EthicsManagement

GRI2/GRI3/GRI205

Conse®ïingEcology andUnleashing GreenPotential

Enhancing EnvironmentalManagement

GRI2/GRI3/GRI304Response to Climate

A®îicle 12 to A®îicle 19, A®îicle 20, A®îicle 21,A®îicle 22, A®îicle 23, A®îicle 24, A®îicle 26,A®îicle 27, A®îicle 28, A®îicle 37, A®îicle 52

A®îicle 12A®îicle 12A®îicle 53A®îicle 53A®îicle 55, A®îicle 56A®îicle 12 to A®îicle 19, A®îicle 32, A®îicle 33,A®îicle 52

A®îicle 24, A®îicle 26, A®îicle 30, A®îicle 31,A®îicle 35, A®îicle 36A®îicle 16, A®îicle 18, A®îicle 19, A®îicle 45,A®îicle 49

A®îicle 19, A®îicle 35, A®îicle 36, A®îicle 37A®îicle 19, A®îicle 30, A®îicle 31, A®îicle 37

A®îicle 42A®îicle 47A®îicle 49, A®îicle 50A®îicle 47, A®îicle 48A®îicle 45, A®îicle 52A®îicle 39, A®îicle 40A®îicle 26, A®îicle 58

A®îicle 35, A®îicle 36, A®îicle 37

Change

GRI305Reducing ResourceConsumption

GRI2/GRI3/GRI302/GRI303/GRI305Controlling PollutantDischarge

GRI2/GRI3/GRI303/GRI305/GRI306Seizing Clean TechnologyOppo®îunities

GRI103/GRI304/GRI307Main EnvironmentalPe®íormance Indicators

GRI2/GRI301/GRI302/GRI303/GRI305/GRI306CreatingMomentumby ReinforcingQuality andSafety

Guarding Work SafetyGRI3/GRI403Strengthening R&DInnovation

/Enhancing QualityManagement

GRI416Working Togetherin Harmonyfor CommonProgress

Protecting Employees'Rights and Interests

GRI2/GRI401/GRI404/GRI405/GRI408/GRI409Striving for High-QualitySe®ïices

GRI418Practicing ResponsibleSourcing

GRI2/GRI3/GRI204/GRI205/GRI308/GRI409/GRI414Building a BetterCommunity

GRI201/GRI203/GRI413Future ProspectsIndependent Assurance Repo®î

//GRI2Index/GRI2CompanyISO System Ce®îi®êcation Statistics of the

/GRI2Reader's Feedback Questionnaire//

Self-Regulato®ñ Guidelines No. 17 forCompanies Listed on the ShenzhenStock Exchange¡ªSustainability Repo®î(For Trial Implementation)

A®îicle 58

A®îicle 14, A®îicle 15, A®îicle 18, A®îicle 52

Note1: According to out assessment, the issue ¡°Ethics of science and technology¡± is not material in respect of both ®ênance and impact.Note2£ºAs of the end of the repo®îing period, the Company did not have any accounts payable (including notes payable) with a balance exceeding RMB 30 billion oraccounting for more than 50% of total assets. Additionally, the Company had no overdue payments owed to small and medium-sized enterprises (SMEs) that requiredpublic disclosure on the National Enterprise Credit Information Publicity System.093094

RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024RONGSHENG PETROCHEMICAL CO., LTD.SUSTAINABILITY REPORT 2024

Which catego®ñ of stakeholders do you belong to?©–Government and regulator ©–Shareholder and investor©–Customer ©–Employee ©–Supplier/pa®îner©–Community ©–Media and NGO ©–Other ( )In your opinion, does the repo®î completely present Rongsheng Petrochemical's ESG pe®íormance?©–Yes ©–Average ©–NoIn your opinion, has the repo®î answered the expectations and demands of Rongsheng Petrochemical's stakeholders in allaspects?©–Yes ©–Average ©–NoDo you ®ênd the quantitative information disclosure in the repo®î objective, true, and valid?©–Yes ©–Average ©–NoDo you ®ênd the writing of the repo®î clear and easy to understand?©–Yes ©–Average ©–NoIs the graphic design of the repo®î helpful to you in understanding the information in the repo®î?©–Yes ©–Average ©–NoDo you have more opinions and suggestions for Rongsheng Petrochemical's social responsibility management andsustainability repo®î?

Thank you ve®ñ much for spending time in reading the sustainability repo®î of Rongsheng Petrochemical 2024. Your opinions andsuggestions are welcome since they can help us provide more valuable information to you and other stakeholders and promoteRongsheng Petrochemical to improve its social responsibility management capabilities and pe®íormance. You may contact us bysending E-mail to the following mailbox:

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