Contents
Introduction
Chairman Statement
Statement of the Board ofDirectors
Sustainable developmentgovernance structure
Aboutus
Sustainable developmentstrategy
Sustainable developmentissue analysis and materialityassessment
Sustainability awards
Sustainable corporategovernance
Green and Circular EconomyProducts
High Standard Solutions
All-rounded TalentCultivation
Responsible IndustryCollaboration
Future Outlook131
ESG key performanceindicators
Appendix133Feedback142
Deepening corporategovernanceAdhering to the Party’sleadership
Adhering to the Party’sleadershipCultivating IntegrityConstruction
Cultivating IntegrityConstructionImplement risk preventionand control
| Implement risk prevention and control |
| Compliance operation |
Advancing the Carbon Peakingand Carbon Neutrality” strategy
Advancing the Carbon Peakingand Carbon Neutrality” strategyPracticing low
-carbon
| production |
| Promoting circular economy |
Strengthening environmentalmanagement
Strengthening environmentalmanagementFeature: climate change risksand opportunities management
Feature: climate change risksand opportunities management
Deliver optimal services
Deliver optimal services
Promote technologicalinnovation
Promote technologicalinnovationDevelop new productive forcethrough green transition
Develop new productive forcethrough green transitionServe engineering projects withgreen concepts
Serve engineering projects withgreen conceptsStrengthening intrinsicsafety
Strengthening intrinsicsafetySafeguarding employees’rights and interests
Safeguarding employees’rights and interestsSupporting employeedevelopment
Supporting employeedevelopment
Promote win-win cooperationCo-creating social value
Introduction
Introduction
The report describes the performance of Beijing New Building Materials Public Limited Company (hereinafter“BNBM”, “the Company” or “We”) in environmental, social and governance (ESG) and social responsibilityfulfilment in 2024, to facilitate communication with stakeholders and respond to their demands. The Board ofDirectors of BNBM is fully responsible for the Company’s sustainable development, and the report has beenreviewed and approved by the Board of Directors.Reporting periodUnless otherwise specified, this report covers the period from 1 January 2024 to 31 December 2024 (hereinafter“this year” or “the Reporting Period”).
Reporting scopeThe entity of this report is Beijing New Building Materials Public Limited Company. The report mainly covers ESGperformance related to the Company’s core business, as well as related policies and management during theReporting Period.Reporting cycleThe Environmental, Social and Governance (ESG) Report of Beijing New Building Materials Public Limited Companyis published on an annual basis.Preparation basis
This report is prepared in accordance with theShenzhen Stock Exchange Guidelines No. 17 for Self-disciplineRegulation of Listed Companies – Sustainability Report (Trial)
and the SASAC’sStudy on ESG Special ReportCompilation for Listed Companies Controlled by Central Enterprises. It also refers to theSelf-Regulatory GuidelinesNo. 17 for Companies Listed on Shenzhen Stock Exchange—Sustainability Report (For Trial Implementation),the
Sustainability Reporting Standards (2022)released by the Global Reporting Initiative (GRI), the Guidance on SocialResponsibility by the International Organisation for Standardisation (ISO 26000: 2010 ), the National StandardGB/T36000 Guidance on Social Responsibility, and the United Nations’ Sustainable Development Goals (SDGs). Theresults of the materiality assessment conducted in accordance with the reporting principles in the above guidanceand standards are also considered as the basis for information disclosure. This report is published in both Chineseand English. In case of any inconsistency between the two versions, the Chinese version shall prevail.Information descriptionThe historical information quoted in this report is final statistics. In case of any inconsistency between the financialinformation and the annual report, the annual report shall prevail. Unless otherwise specified, the financial figures inthis report are denominated in RMB.
Terms and definitionsDuring the Reporting Period, the following terms shall have the definitions stated below, unless otherwise indicated:
“China”The People’s Republic of China
“30.60”
General Secretary Xi Jinping proposed that “China will scale up itsIntended Nationally Determined Contributions by adopting more vigorouspolicies and measures. We aim to have CO2 emissions peak before 2030and achieve carbon neutrality before 2060.” at the General Debate of the75th Session of the United Nations General Assembly, i.e., “carbonpeaking and carbon neutrality”“CNBM”China National Building Material Group Co., Ltd.“CNBM Company”China National Building Material Company Limited“Dragon Brand Company”BNBM Dragon Brand Company“Taishan Gypsum”Taishan Gypsum Co., Ltd.“Dream Brand New Materials”Dream Brand New Materials Co., Ltd.“BNBM Waterproof”BNBM Waterproof Co., Ltd.“BNBM Coating”BNBM Coating Co., Ltd.“BNBM Carpoly”BNBM Carpoly Co., Ltd.“International Company”BNBM International Company.
Report access
The download links for the electronic version are listed below:
Shenzhen Stock Exchange: http://www.szse.cnCninfo: www.cninfo.com.cnThe official website of BNBM: https://www.bnbm.com.cn
This year, the Company actively responded to the latest ESG information disclosure requirements set forth by the Shenzhen Stock Exchange and iscommitted to continuously improving the quality of its information disclosures in accordance with these standards.
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Chairman Statement
Chairman Statement
Steadfast in our mission, we set sail on a new journey with unwavering determination.In 2024, BNBM continued to advance the implementation of its "One Body, Two Wings and Global Layout" strategy.Facing a complex and ever-changing market environment, we remained resolute, embraced challenges, andpursued steady progress. Through strategic initiatives and collaborative efforts, we achieved sustained growth in ourthree core businesses—gypsum board, waterproof materials, and coatings—ushering in a new era of "a solid onebody with two wings soaring," and propelling the Company's high-quality development to new heights.Strengthening foundations, we chart a new blueprint for high-quality development.BNBM has consistently refined its modern corporate governance and deepened reform efforts, seizing opportunitiesamidst industry transformations. We accelerated the transition from "commercial to residential, urban to rural, basematerials to surface materials, and products to services," speeding up our transformation into a consumer-orientedbuilding materials manufacturing and service provider. Guided by value-driven operations, we are committed tomaking the Company stronger, better, and larger. In 2024, BNBM was included in the State-owned AssetsSupervision and Administration Commission's (SASAC) "First Batch of Outstanding Achievements in CentralEnterprises' Brand Leadership Initiative." The Company's brand value exceeded 118.5 billion yuan, and its marketcapitalization reached 51.209 billion yuan, setting new records.
Pursuing innovation and green development, we write a new chapter in sustainability.
With the mission of "Green Technology, Quality Life," BNBM actively cultivates new productive forces. The Companyestablished the BNBM Science and Technology Committee, continuously developing green, low-carbon productsand services that meet market demands. Through technological innovation and digital transformation, we aredriving the building materials industry toward green and high-quality development. Upholding the philosophy of"Green Building Future," we actively identify climate opportunities and risks, striving to provide society with moreclimate-resilient building solutions. We are vigorously developing a circular economy, creating a green industrialchain across the entire lifecycle—from raw materials, production, and construction to application and recycling—ensuring that green innovation benefits the entire value chain and achieves synergistic ecological and economicbenefits.
Putting people first, we build a new ecosystem of diversity and inclusion.BNBM adheres to the safety development philosophy of "People First, Life First." Building on last year's successfulpilot project for first-level work safety standardization, we are rapidly advancing the comprehensive construction offirst-level work safety standardization across the Company. We are vigorously promoting the full implementation ofintelligent safety systems, leveraging technology to enhance intrinsic safety and fortify the Company's safetyfoundation. Committed to a talent-driven strategy, we are improving our diversified talent development system andincentive mechanisms, fostering a work environment that values diversity, equality, fairness, and inclusivity. Byhigh-quality co-building the "Belt and Road" initiative, we aim to share China's stories and actively practice theprinciples of extensive consultation, joint contribution, and shared benefits, contributing to the building of a globalcommunity with a shared future. The Company is also dedicated to public welfare, focusing on rural revitalization,educational support, and charitable donations, fulfilling our corporate social responsibilities and sharing the fruits ofour development with society.
Riding the wave to new heights, boundless prospects lie ahead.In the new year, BNBM will anchor itself to the goals of high-quality development, keeping in mind the "nation'spriorities" and focusing on the "nation's essential materials." We will drive the development of new productiveforces through technological innovation, empower the modern industrial system with green transformation, anddeepen open cooperation with a global perspective. With courage and determination, we will forge ahead, strivingto create a world-class demonstration enterprise with exceptional products, a distinguished brand, leadinginnovation, and modern governance.
Chairman of BNBM
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Statement of the Board of Directors
Statement of theBoard of Directors
The Board of Directors of BNBM actively embraces the concept ofsustainable development and continuously improves the ESGmanagement system to drive the Company’s sustainable growth. As thehighest decision-making authority for sustainable development, the Boardof Directors is fully responsible for the Company's sustainable developmentstrategy and coordinates the ESG management efforts on this basis.The Strategy and ESG Committee of the Company is responsible for theoverall coordination, supervision and management of the Company’s ESGstrategies, policies and objectives, as well as the identification of relatedrisks and opportunities. The Committee also regularly reports to the Boardof Directors on major ESG matters and ensures that the Board of Directorsis well-informed of the work progress on important ESG matters. The Boardof Directors regularly listens to and reviews reports from the Strategy andESG Committee on the ESG work progress and provides guidance on theESG policies. Relevant management of the Company is responsible for theimplementation of the ESG strategies and objectives, and regularly reportsto the Strategy and ESG Committee on major ESG matters. The Companyorganises relevant institutions to provide special training for the Board ofDirectors from time to time, to help the Board of Directors to understandthe latest ESG trends and outstanding ESG practices. Placing greatemphasis on the communication with stakeholders on ESG matters, BNBMidentifies, evaluates and manages important ESG matters in a proactivemanner. Please refer to the Chapter “Sustainable developmentgovernance structure” and “Sustainable development issue analysis andmateriality assessment”in this report for details of the governancestructure and assessment results.ESG risk management is now an integral part of the Company's daily riskmanagement system. Under the guidance of the Strategy and ESGCommittee, all functional departments, segment companies and theirbranches and subsidiaries identify and prevent significant ESG risks in theirdaily operations and production. The Strategy and ESG Committee reviewsthe identification of and response to the relevant risks and makes regularreports on risk management to the Board of Directors.This year, the Company has refined the sustainable development strategy.By implementing effective strategies, the Company aims to maintain abalance between its impact on the environment and society and theachievement of its business objectives and to promote sustainabledevelopment.This report discloses the above environmental, social and governancerelated matters in detail, which has been reviewed and approved by theBoard of Directors on March 21, 2025.
About us
About us
Company profile
Beijing New Building Materials Public Limited Company (BNBM) is the new green building materials platform of theChina National Building Materials Group, which is one of the Fortune Global 500 enterprises. The Company wasestablished in 1979 under the care of Comrade Deng Xiaoping, and listed in Shenzhen Stock Exchange (000786.SZ) in1997. The Company has total assets of over RMB 30 billion, with annual sales revenue of more than RMB 22.4 billionand nearly 16 thousand employees. The Company has 119 industrial bases at home and abroad with gypsum board,waterproof material and coatings as the three core businesses. The production capacity of gypsum board exceeds
3.5 billion square metres, which is the world's largest gypsum board and steel stud industrial group. The waterproof
material business scale ranks among the top three in the industry. In the coatings business, China Time-HonoredBrand “Beacon” served national development. The Company has won the Outstanding Contribution Award to theGlobal Gypsum Industry twice and the Global Gypsum Company of the Year three times, and was awarded the“First Prize of National Enterprise Management Modernisation Innovation Achievement” “Manufacturing SingleChampion Demonstration Enterprise” “China Green-Benefit Enterprise Best Model Award”, “National May 1Labour Award” and other honours, as a national innovative enterprise. In 2016, the Company was awarded theChina Grand Awards for Industry. In 2022, the Company was awarded the National Quality Award, which wasrecognized three years later.Adhering to the principles of "mission-led and innovation-driven” values, BNBM fully exploits the dual role oftechnological innovation and brand building, and occupies the commanding heights of technology, brand,standards, quality, channels and resources. BNBM has national enterprise technology centre, academician expertworkstation, post-doctoral research station, and owns 7,214 approved patents by the end of 2024. The Company hassuccessfully created the world famous independent brands in the gypsum board industry - Dragon Brand andTaishan, and has a number of well-known brands such as "Yuwang", "Shuyang", "Dream Brand", "Lighthouse" and"Carpoly". The products are widely used in the Great Hall of the People, Olympic Games, World Expo venues andother major national projects, landmark buildings and modern household supplies. In 2024, the brand value reachednew heights at RMB 118.596 billion, ranking 70th among China's 500 most valuable brands and again ranking amongthe top three building materials brands in Asia.Committed to “Green Technology, Quality Life”, BNBM promotes the building, city and residential environment tobe greening. BNBM also advocates circular economy, energy saving and prefabricated buildings, and creates a greenbuilding industry chain throughout the life cycle from raw materials, production, products, construction, applicationand recycling. BNBM implements the development strategy of “One Body, Two Wings and Global Layout”,strengthens, expands and optimises gypsum boards and gypsum boards +, and accelerates the development ofwaterproof material and coatings. Focusing on the four major regions of Southeast Asia, Central Asia, the MiddleEast, Europe and the Mediterranean Rim, the Company conducts regional operations and a global layout. TheCompany also speeds up the transformation into a comprehensive manufacturer of consumer building materialsand service provider, encouraging four transformations from “commercial to residential, urban to rural, basematerials to surface materials, and products to services”. The Company is striving to build a world-classdemonstration enterprise featuring excellent products, outstanding brand, leading innovation and moderngovernance.
Corporate culture
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Sustainable development governance structureSustainable development strategy
Sustainable developmentgovernance structureBNBM deeply understands and actively fulfils its social responsibility to achieve harmonious progress and commondevelopment with all segments of society. To better implement the sustainable development strategy, the Companyhas upgraded the functions of the Strategy and ESG Committee and the ESG Working Group this year. They strictlyabide by the Working Rules of the Strategy and ESG Committee of the Board of Directors, and conscientiouslyimplement the decision-making processes and rules of procedure for ESG matters to ensure all work is carried out ina standardised and orderly manner. The Company has organised directors to attend ESG related training, coveringcorporate governance, ESG development trends, and analysis of ESG disclosure, with a total of 23 participantsduring the Reporting Period, providing more specific guidance for the Company's sustainable developmentmanagement.
The Board of
Directors
The Board of Directors, as the highest decision-making authority for ESG work, isresponsible for the Company's ESG strategy and reporting. It regularly listens toand reviews reports from the Strategy and ESG Committee on the ESG workprogress, and provides guidance on the ESG policies.
Strategy and ESGCommittee
The Strategy and ESG Committee, under the Board of Directors, is mainlyresponsible for conducting research on the Company’s long-term developmentstrategy and ESG-related matters, and making recommendations. The mainresponsibilities include:
Conduct research on the Company’soverall ESG management objectives,management strategy and managementpolicies, and make recommendations.
Conduct research on the Company’sESG (including climate change) relatedrisks and opportunities and makerecommendations;Conduct research on the Company’ssignificant ESG matters that are subjectto the approval of the Board of Directorsand make recommendations;
Conduct research on other significantmatters affecting the sustainabledevelopment of the Company and makerecommendations.
ESG Working Group
The ESG Working Group is responsible for the preparation for the Strategy andESG Committee in making decisions on ESG matters. The work mainly includescollecting issues, reports and other relevant information on significant ESGmatters reported by relevant departments of the Company or the holding(shareholding) companies, and reviewing the information and issuing writtenopinions before submitting formal proposals to the Strategy and ESG Committee.
Sustainable development strategyBNBM integrates the ESG concept into the Company's business development and daily operations. To strengthenthe Company's overall management of sustainable development, we released the BNBM sustainable developmentstrategy framework and five strategic segments in 2023. In 2024, with the strategic vision of sustainabledevelopment as our blueprint for action, we implemented a number of sustainable development initiatives andachieved good results. Meanwhile, we have tracked and monitored the key indicators and targets of the fivestrategic segments. Through regular evaluation and adjustment, we ensure that the relevant indicators areconsistent with our objectives and overall plan, providing a strong guarantee that the Company is fullyimplementing the sustainability concept.Sustainable development strategic framework
BNBM sustainable development strategic framework
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Sustainable development strategy
Accelerate the integration of the concept ofsustainable development into the Company'smanagement system, take root in theoperational concepts of efficient governance,integrity and self-discipline, and honesty. Alsocontinuously convey the Company'ssustainable development policy to allemployees, enhance the awareness ofsustainable development among all employees,and promote the steady growth of the Company.
Five strategic pillars
Sustainable governance
With innovation as the core, the Company promotes the "double-cycle" circular economy model of productcirculation and production circulation, and continuously enhances the capacity of industrial by-productconsumption through technology improvement and management optimization. We will increase the usageof clean energy and promote energy saving and emission reductions in production with technologyupgrading as a key factor, accomplishing the gradient utilization of resources.
Green and circular economy products
Taking the opportunity of low-carbon and morediversified product demand, the Company insists onperfecting the quality system construction,comprehensively laying out the efficient servicenetwork, and creating first-class quality products andservices. The Company continues to promoteindustrial innovation and research and development,accelerate the key research and developmentstrength and core scientific research applicationtransformation efficiency, to provide customers withhealthier and safer, more low-carbon andenvironmentally friendly building solutions.
High standard solutions
The Company establishes a sound mechanism toprotect the rights and interests of employees andhealth and safety, continuously improves theability to cultivate talents, and wholeheartedlybuilds a working environment that meets thedevelopment needs of employees, attracting,retaining and cultivating talents at all levels, andpromoting the common progress of employees andthe Company, for the sustainable development ofthe industry to transport the backbone.
All-rounded talent cultivation
The Company builds long-term and stable cooperativerelationships with suppliers, distributors and otherpartners based on the principles of honestcooperation and mutual benefit, and promotes theconcept of sustainable development through businessexchanges, technical exchanges and friendlycooperation. The Company also maintains win-winharmony with the communities in which it operates topromote the harmonious development of the valuechain.
Responsible cooperations
011012
Sustainable development strategy
Sustainable development management progress and key performanceSustainableDevelopmentStrategy Section
Core InitiativesKey Performances and Highlights of Sustainable Development in 2024UNSDGs
Sustainablecorporategovernance
Continuously improve the modern enterprise system with Chinese characteristicsto promote the high-quality development of the Company; attach importance tothe gender diversity of the Board of Directors and the Board of Supervisors;constantly strengthen the building of Party conduct, and enhance the sense ofintegrity and self-discipline of employees and partners; firmly promote theapplication of the "1+N" internal control system, cultivate a sound complianceculture and ensure the Company’s continuous development.
?1/3 of the Board are women and 100% of the main supervisors are women;?Published theCode of Business Ethicsand Anti-Corruption Policy Statement for all employees and partners;?A total of 66,013 participants attended anti-corruption training, with 100% coverage of the Board and employees;?Organised compliance training for domestic and overseas enterprises at all levels, both domestically and internationally,with a total of 12,600 participants.
Green andcircular economyproducts
Implement the development concept of "Greenway Builds a Better Future",steadily promote the Company's Carbon Peaking Action Plan, vigorously promotethe usage of clean energy, and optimise energy use efficiency; continuouslyenhance the consumption capacity of industrial by-product gypsum of otherindustries, strengthen energy saving and emission reduction of productsthroughout their life cycle, promote the circular economy, and improve theperformance of products in terms of environmental protection; continuouslystrengthen environmental protection in production and operation, accelerate therealisation of "near-zero emission" at each production base, and promote greenproduction.
?Carbon emissions per RMB 10,000 of gross industrial output value decreased by 12.50% year-on-year;?Comprehensive energy consumption of RMB 10,000 of output value decreased by 12.30% year-on-year;?The annual use of clean energy (biomass fuel, photovoltaic power generation, wind power, steam, etc.) accounted for
14.39%;
?15.24 million tonnes of gypsum as a by-product of other industries were consumed throughout the year, increased by
2.90% year-on-year;
?161 products of the Company acquired China Green Product Certification; 85 products acquired China Environmental
Labelling Product Certification;?Emission intensity of sulfur dioxide, nitrogen oxides and industrial particulate decreased by 29.88%, 16.57% and 32.01%
year-on-year respectively, exceeding the set targets;?A total of 33 enterprises have obtained the title of national "Green Factory", and 39 enterprises have acquired provincial
"Green Factory".
High standardsolutions
With technology-led development, standard operation, brand building, excellencein quality and superior services as the core, speed up the transformation into acomprehensive manufacturer of consumer building materials and service provider,pursue high-quality products and services; build an open innovation system basedon internal and external collaboration, speed up the construction of the source oforiginal technology, deepen digital development and application, accelerate keyscientific research and achievement transformation and application, and promotetechnological progress in the industry.
?1 QC teams won the second prize in the
Central Enterprise QC Group Achievement
Presentation Competition;?99 enterprises achieved ISO9001 Quality
Management System Certification;?The satisfaction of the Company's
distributors at all levels reached 9.23,
maintaining above 9 for 5 consecutive years;
?Annual R&D investment reached RMB 1.058 billion, with an R&D
investment intensity of 4.10%;?A total of 5,253 valid patents have been accumulated, with 6 newlygranted international patents;?15 companies obtained the certification of the integrationmanagement system of market-oriented and lean management; BNBMCarpoly was rated at the AAA level in the assessment of the integrationmanagement system of market-oriented and lean management.
All-roundedtalent cultivation
Adhering to the safety culture of "Stressing safety for every staff and every affair",continuously improve the health and safety management system, orderly promotethe construction of safety standard, strengthen safety risk rectification efficiency,effectively ensure the health and safety of employees; build a sound system tosafeguard the rights and interests of employees, provide employees with a well-established career development path and a diversified training system, create adiversified training system and career development paths to strengthen our talentpool; implement the equity incentive policy and grow together with employees.
?The annual investment in safety production was RMB
59.66 million;
?93 enterprises across all levels have achieved safetyproduction standardization;?Completed the first domestic safety standard
exclusively for the gypsum board industry - theSpecification for Production Safety of Gypsum Board;
?99 enterprises obtained the ISO45001 systemcertification;?ReleasedBNBM 2024 Restricted Stock Incentive Plan(Draft);?Employee satisfaction has increased for 7 consecutiveyears.
Responsibleindustrycollaborations
Integrate the concept of sustainable development into the management ofcooperation with suppliers and distributors, and jointly create a friendly businessenvironment; fully leverage international and domestic market resources, build acomplete business network, steadily develop overseas business, maintain friendlycooperative relationships with the places of operation, and support thedevelopment of the local economy; actively promote rural revitalisation work,green building materials in rural area, and the harmonious development of thesociety.
?Published theSustainable Supply Chain Management Policy
andSupplier Code of Conduct
;?The construction of 40 million square meters of paper-faced gypsum board project in Thailand and the preparation of 40million square meters of paper-faced gypsum board project in Bosnia and Herzegovina were successfully carried out;?A total of RMB 5.57 million was donated and spent on rural revitalisation, public welfare and charity activities.
Sustainable Supply Chain Management Policy: https://www.bnbm.com.cn/esgdt.html
Supplier Code of Conduct: https://www.bnbm.com.cn/esgdt.html013014
Sustainability awards
Sustainability awards
Selected into the “ESG ChinaExcellent Practice Cases” by theChina Enterprise Reform andDevelopment ResearchAssociation.
Won the “OutstandingPractice Cases ofSustainable Development”by China Association forPublic Companies
Won the Evergreen Award forSustainable DevelopmentGreen Excellence Case
Won the title of “China’sTop 10 Influential Brands inthe Green Ecology Category”
Achieved an A in Sino-Securities
ESG rating
Achieved an A in Wind ratingand the industry's highest ESG
overall score
Awarded the “Top TenPractice Cases of EnterpriseIntegrity Construction” by theChina Enterprise ConfederationListed in Wind's Top 100 ESGBest Practices for ListedCompanies in China 2024
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Sustainable development issue analysis and materiality assessment
StakeholdersCommunication channels
Key shareholders
?Shareholders’ meeting?Press release/Announcement?Annual/Interim performance conference?Analyst meetings?Roadshow?Conferences and talks?Company promotion day
Potential investors and financial institutions
?Investor conferences?Press release/Announcement?Annual/Interim performance conference?Roadshow?Company promotion day
Government and regulatory authorities
?Telephone/Email?Conferences and talks?Cooperation between local government andbusiness projects?Regular reporting
Sustainable development issueanalysis and materiality assessment
Stakeholders communicationDeeply aware of the importance of stakeholder engagement, BNBM has established diversified communicationchannels to fully respond to their expectations and demands, thereby assisting the Company in prioritising itssustainable development efforts and identifying the key directions for future sustainable development.
StakeholdersCommunication channels
Employees
?Enterprise platform?Suggestion boxes and labour union?Team-building activities?Employee satisfaction surveys?Employee conferences/seminars?Employee performance review interviews
Customers
?Telephone/Email?Conferences and talks?Customer service hotline?Customer satisfaction survey?Social media
Partners
?Work inspection and supervision?Supplier/Contractor conferences?Telephone/Email?Conferences and talks?Supplier assessment
Communities and the public
?Charity activities?Community communication and visits
Industry Associations
?Industry communication conference?Industry promotion activities
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Sustainable development issue analysis and materiality assessment
Sustainable development issue analysisBNBM identifies and analyses the materiality of sustainable development issues each year based on the businesscharacteristics and the expectations of internal and external stakeholders. This year, through online questionnairesurvey and expert consultation, we formed a final materiality matrix by “Impacts on the Company” and “Impacton external stakeholders”. Through the analysis, we have identified key issues including compliance, occupationalhealth and safety, integrity and ethics, corporate governance, quality control, resource/energy management, andcustomer service.The Company’s Board of Directors and management team reviewed and approved the analysis of the materialissues and provided recommendations for sustainable development based on the business conditions.High
LowHighImpacts on the Company
Impact on external stakehol ders
BNBM Materiality Assessment Matrix
Environmental issues
Waste managementResource/energy managementResponse to climate change
Social issues
Occupational health and safetyEmployee' s rights and interestsTalent training and development
Talent attractionQuality controlInnovative development
Sustainable supply chainCustomer service
1011
Governance and compliance issues
ComplianceIntegrity and EthicsCorporate Governance121314
019020
Sustainable corporategovernance
Deepening corporate governance
Adhering to the Party’s leadership
Cultivating Integrity Construction
Implement risk prevention and control
Compliance operation
BNBM continues to promote the modernization of corporategovernance, attaches great importance to business ethics, strictlyabides by anti-bribery, anti-money laundering, The Company hasstrengthened the ideological defense, trained a culture of integrity,and implemented a number of risk prevention and controlmeasures, laying a solid foundation for the Company’scompliance governance and integrity operation. The Company iscommitted to building a sound cooperation mechanism withsuppliers, partners, customers and other stakeholders to create aclean and positive business environment.
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
Deepening corporate governanceBNBM faithfully implements the national strategic policy of “accelerating the high-end, intelligent, and greendevelopment of the building materials industry”. The Company continuously strengthens the corporategovernance structure, improves the compliance management system, and maintains the high-quality operationlevel of the Company, striving to achieving remarkable results in promoting a high-quality development.Consolidating the governance system
BNBM strictly complies with theCompany Law of the People’s Republic of China, theCode of CorporateGovernance for Listed Companiesand other national laws regulations and specifications, regulations and regulatorydocuments. This year, the Company has formulated and published theBoard Diversity Policy Statement
. TheGroup continued to standardize the governance mechanism of "three boards and one layer", deepened themanagement of "three boards", and consolidated the standardized operation mechanism with clear responsibilitiesand scientific and efficient functions. BNBM maintained the firm foundation for sustainable and high-qualitydevelopment and promoted the smooth realization of strategic goals.
Board Diversity Policy Statement: https://www.bnbm.com.cn/esgdt.html
Shareholders' meeting
The Board of DirectorsThe Board of Supervisors
The management
AuditCommittee
NominationCommitteeRemunerationand AppraisalCommittee
The Strategyand ESGCommittee
"Three boards and one layer" governance structure of BNBM
Shareholders’meetings
The Company held1 general shareholders’ meeting, and considered and approved13 resolutions
Board ofDirectors
9 directors, including 3 women, held 8 board meetings and approved 48
resolutions.
The Board ofSupervisors
3 supervisors, including 3 women, held 6 meetings of the Supervisory Committee and
deliberated and approved 27 resolutions.
Themanagement
There are8 key senior managers, including 2 female.
Please refer to the Company’s Articles of Association
for more information on the construction of corporategovernance structure.
Articles of Association of the Company: https://www.szse.cn/disclosure/listed/bulletinDetail/index.html?8862d4c0-f49a-4984-b8d0-fa71cb34372f
023024
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
Adhering to the Party’sleadershipThe Company deeply implemented the leadership of the Party, focuses on the theme of high-quality developmentfor a long time, unites and leads all Party members, cadres and workers to overcome difficulties, forge ahead andwork hard, and promotes the enterprise to move forward steadily on the road of high-quality development with thehigh standard of Party building work.Party building leads high-quality developmentBNBM regards high-quality development as its top priority, practices ‘Party building and operation’, continues todeepen the ‘seven grasps’ project, creates ‘1+2+N’ Party building brand system, and vigorously carries out‘Party building +’ activities, effectively transform the advantages of party building into business developmentadvantages, and constantly improve the core competitiveness of enterprises, with high-quality party building to leadhigh-quality development. The Company is committed to promoting the implementation of the strategy of “OneBody, Two Wings and Global Layout”, with the unremitting pursuit of making good products and satisfying thepeople’s desire for a better life. In 2024, the Company was awarded the honorary title of “Advanced Collective ofCentral Enterprises”. The case of “Dragon Brand Rise” integration of party building and operation was includedin the SASAC’s “Joint School Course for Central Enterprise Party Members”, and “Mount Tai Climb” wasawarded the top 10 brands of CNBM.
This year, the Company held a variety of themed events to continuously expand the brand influence. Seizing theopportunity of “Dragon Brand” publicity in the Year of Dragon, we launched themed activities such as “DoubleDragon Club at Drum Tower”, “Strong Middle Axis Line” and “Imprint Beijing Middle Axis Line”, to promotetraditional culture while promoting the national goods. We also worked with our partners to build the “12 Years”public welfare design exhibition--Oriental Aesthetics, to present the entire brand and product range of the Company,and promote Chinese culture and brand to become a world trend with the power of modern design and the charm ofnational goods. In addition, we have established the headquarters of Yuyan Workshop to build a culturecommunication, brand display, an immersive interactive space for product sales and service leisure.
Party building leads brand buildingAdhering to the leadership of party building, the Company actively carried out the corporate mission of “GreenTechnology, Quality Life” and told the Company’s story well. In 2024, the Company focused on the 4 aspects ofservice, integration, innovation, and close-to-people, and made efforts to build 6 self-owned platforms, andinnovatively promoted the Company’s brand to become a social brand transition to consumption type. The totalnumber of fans of the Company’s platform was over 510,000, and 24 columns such as “New Stories of GoldenFlower Blooming”, “Dialogues with Ghina-Chic Product Distributors”, “Column on the Progress of PartyDiscipline Study and Education” were opened, with the total number of views exceeding 8.85 million times.
025026
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
Party building leads cultural constructionTo deepen the study and implementation of Xi Jinping Thought on Socialism with Chinese Characteristics for a NewEra and fully implement the spirit of the 20th CPC National Congress, the Company organizes all party members toactively carry out various party building activities, continued to increase the vitality of grassroots party organisations,and effectively promoted the deep integration of party building and production and operation. BNBM vigorouslyinherits the unique red cultural genes of state-owned enterprises, builds a modern enterprise culture system,internalises the Party's propositions into the spiritual pursuits of enterprise workers and externalises them intoconscious actions, and gathers wisdom and strength for the Company to overcome difficulties and transform anddevelop.
Party building leads to win-win cooperationThe Company earnestly implemented the general requirements for party building in the new era and furtherpromoted the integrated development of party building and operation. This year, the Company signed a strategiccooperation agreement with its partners and carried out the activities of grassroots party organisations joint studyand construction. The activities strengthened the exchange and interaction between BNBM and upstream anddownstream enterprises in party building work, and jointly explored the integration and development path of‘party building + business’, deepened mutual learning and mutual appreciation among enterprise party branches,and formed a positive interaction led by party building and seeking common development. We will continue toincrease interconnection and interaction with our partners, turn the advantages of mutual promotion andadvancement of party building into development advantages, give full play to their respective advantages, achieveresource sharing, mutual benefit and win-win situation, and promote common high-quality development withpractical actions.
Cultivating Integrity Construction
The Company continued to strengthen the construction of integrity culture in the new era, consistently implementsthe spirit of the eight provisions of the Central Committee and the implementation of the rules, thoroughlyimplements the responsibility system for the construction of honest and clean party politics, grasps thefundamental project of ‘not daring to corrupt, not being able to corrupt, and not wanting to corrupt’, deeplycultivates the culture of cleanliness and constantly improves the awareness of staff's cleanliness and self-disciplineand their ability to resist and prevent corruption and change. The Company has also improved its ability to resist andprevent corruption and change.Deepen the construction of integrity systemThe Company strictly abides by laws and regulations related to anti-corruption and anti-corruption and party rulesand regulations. The Group formulated and improved a series of internal policies and systems such as the BNBMResponsibility System for Party Conduct and Integrity Construction and the BNBM Rules on Implementing theCommitment System for Integrity of Leading Personnel to continuously promote anti-corruption and integrity. In2024, the Company formulated and improved eight systems, including the Opinions of the BNBM Party Committeeon Improving the Comprehensive and Strict Party System (Provisional) and the BNBM Measures for theAdministration of Gift Funds. The Group promoted the
consistency and coordination of the “big supervision”system.The Company insists on integrating the building of party style and clean government into the central work
. TheDiscipline Inspection Commission carries out assistance and supervision functions as one.
This year
the Company signed theLetter of Responsibility for the Building of Party Style and Integritywithmember enterprises across all levels, and linked the results of the assessment on the responsibilitysystem for building party style and integrity with the
performance of the Party Organization Secretaryand the “two members” of the discipline inspection team, further stimulating the vitality of thesupervision over integrity.
"Big supervision " refers to the profound integration of party supervision and enterprise management supervision. The Group studiedthe problem rectification approach, and formed a horizontal and horizontal joint and interactive comprehensive supervision systemfor vertical supervision chain and supervision departments classified by business.
"Double responsibilities " refers to the dual responsibilities of integrity building and operation management in a single position.
"Discipline Inspection" refers to the discipline inspection committee and the discipline inspectors, and is the frontline supervisoryforce of the grass-roots branches and enterprises.
027028
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating Integrity
Construction
Implement riskprevention and control
Compliance
operation
In 2024, the Company formulated and publicly released theCode of Business Ethics and Conduct
and theAnti-Corruption Policy
Statementfor all employees
, covering corruption, bribery, discrimination, informationconfidentiality, conflicts of interest, antitrust/anti-competitive behavior, money laundering and/or insider dealing,environmental, health and safety. The Company’s Anti-Corruption Policy also applies to stakeholders who havebusiness dealings with the Group. It is also known that bribery is disguised as donations and sponsorship, andbribery is carried out through political donations.
?Leading Group Meeting on Party Conduct and IntegrityBuilding and Anti-Corruption Work
?Signing the letter of responsibility for building party style
and integrity and the letter of commitment for integrity andself-discipline
Code of Business Ethics:https://www.bnbm.com.cn/esgdt.html
Anti-Corruption Policy Statement: https://www.bnbm.com.cn/esgdt.html
The Group strengthened the protection against corruptionAdhering to building a clean and honest operating environment, the Company has established a top-down three-level supervision system, which includes special supervision, functional supervision andfirst-line supervision by the Disciplinary Committee. Continuously strengthen risk identification,monitoring and prevention capabilities.
The three-tier supervision system of BNBM includes:
Based on the relevant rules andregulations, seriously investigatingand dealing with violations of laws ,regulations and rules .Strengthening the supervision ofkey positions such as procurementand bidding, asset management,as well as the supervision ofimportant nodes, key projects, theimplementation of major decisionsand deployments, etc.Implementing re-supervision offunctional supervision to ensurethe specificity of training efforts forintegrity, the consistency ofmanagement, and theeffectiveness of supervision.
Each functional departmentperforms functional supervision,earnestly implements thesupervision work, establishesfunctional supervision accounts ,and continuously improves theintegrated supervision andmanagement closed-loop systemto achieve seamless vertical andhorizontal alignment within thesupervision system, therebyreinforcing supervisoryresponsibilities, integratingsupervisory forces and enhancingthe overall effectiveness ofsupervision.
Disciplinary InspectionCommission members andinspectors, as supervisory forcingat the grass-roots level andenterprises , regularly carry outextensive publicity and training onintegrity to all-level employees,expand information collectionchannels, carry out regular heart-to-heart talks, and promptly reportto the company's management ina timely manner after discoveringthe problems.
The Company includes theCode of Business Ethics and Conductin the scope of employee performance assessment,and links employees’ compliance with the Code to their remuneration. If any employee directly or indirectlybreaches the requirements of the code, they will face disciplinary actions such as warnings, demerits, demotions,dismissals, termination of personnel or labor relations, depending on the severity of the violation. In addition, theCompany reduced the remuneration of those in violation of the law in accordance with theDetailed Rules for theImplementation of the Deduction of Remuneration of Heads of Group Companies Subject to Party and GovernmentDiscipline, ensuring strict implementation of the standards.
Dedicated supervisionby DisciplinaryInspectionCommission
Functionalsupervision
Frontlinesupervision
029030
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
Clear reporting channelsThe Company has established a smooth reporting channel for business ethics or suspected violations of theCode ofBusiness Ethics(e.g., corruption, fraud, etc.). After receiving the report, the Company will set up an investigationteam to investigate the problem leads and issue an investigation report based on the investigation results to ensurethat the reported problem is effectively dealt with.The Company strives to protect the safety of whistle-blowers and their content, and strictly implementsthe Rules forHandling Whistle-blowing Complaints by Discipline Inspection and Supervision Authorities. It is prohibited to attackwhistle-blowers and witnesses in any form, to strictly observe the whistle-blowers’ privacy and protect theirlegitimate rights and interests.Integrity risk prevention and controlThe Company continues to carry out integrity risk prevention and control, organizes segment companiesto conduct integrity risk screening each year, and timely revises theManual for Prevention and Control ofIntegrity Risks, conducts 1 integrity risk metrics monitoring each quarter. In 2024, the Company issued 5disciplinary inspection proposals and 5 rectification notices, and revisited the implementation of therectification work. The Company conducted closed-loop management of rectification and achieved100% completion rate of rectification measures. At the same time, the Company carries out businessethics audits of its subsidiaries in accordance with theBNBM Implementation Rules for EconomicResponsibility Auditson the ‘implementation of responsibilities for the construction of a clean andhonest Party and compliance with the provisions on clean practices in economic activities’, as well aseconomic responsibility audits of its 57 subsidiaries and ensures that the relevant audits cover alloperating sites at least once every three years.In 2024, the Company had no corruption, bribery, conflicts of interest, negative events of moneylaundering or insider dealing.
Deepen awareness promotionThe Company continued to deepen anti-corruption publicity and implemented the construction of a culture ofintegrity. In 2024, we established the “146” integrity culture system
11, nurturing a foundation of integrity andclean governance, comprehensively enhancing all employees' awareness of resisting corruption and preventingdegeneration.
To deepen integrity awareness, in 2024the Company carried out14 special warnings in procurement and marketing, and held seminars withsuppliers on integrity. We also signed an "Integrity Commitment" with all suppliers, conducted aquestionnaire survey on integrity, and improved the awareness of integrity and self-discipline amongsuppliers, achieving 100% coverage of anti-corruption management.
?In 2024, we held a seminar withsuppliers on integrity and signed aletter of commitment to integrity
Supplier anti-corruption managementAdhering to the principle of “cooperation with integrity, equality andmutual benefit and common development”, the Company works withsuppliers to create a clean and positive business environment. This year,we formulated and issued theSupplier Code of Conduct, which requires allsuppliers to strictly fulfil their commitments in anti-corruption, anti-unfaircompetition and anti-conflict of interest. To prevent corrupt practices, theCompany regularly reviews the procurement process of suppliers andchecks the corruption of suppliers through public information channels toensure that the supplier’s behaviour complies with the requirements oftheSupplier Code of Conduct. If we find that there is corruption or otherviolations of the supplier, we will blacklist the supplier in accordance withrelevant policies, and terminate the cooperation immediately.
Build an integrity “firewall”We strengthen ideological guidance.Through theoretical study, organizedvisits to warning education bases, andthemed Party Day activities, we guideParty members and officials to cultivate asense of reverence, maintain vigilance,and adhere to moral boundaries, therebysolidifying the ideological foundation ofintegrity and clean governance;
Establishing the "Guiding Beacon" forintegrityThrough disciplinary Party lectures,knowledge quizzes on "LearningRegulations, Upholding Party Discipline,Setting an Example, and PromotingDevelopment," Integrity Forums, and "ITell Integrity Stories" activities, westrengthen training and learning andactively foster a positive culture of integrityand clean governance.Driving "New Achievements“We focus on "Cultivating the Market forGreater Revenue," "Enhancing ValueThrough Precise Management," and"Preventing Risks Through AccurateInternal Controls." Continuously reinforceself-discipline and integrity to propel theCompany’s high-quality development.
Activating the "Integrity Momentum“We enrich activity formats by promotingoutstanding integrity-themed works,issuing family integrity initiatives, andcollaborating with strategic partners tocreate a "Clean and Transparent"cooperative atmosphere, therebyadvancing the Company’s integrityculture.
The “146” integrity culture system refers to the integrity culture system, which consists of one goal, four core concepts and six implementation paths.
031032
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
The Company carries out activities to build party style, integrity and anti-corruption for the Board of Directors and allemployees, and continuously strengthens the awareness of the Board of Directors and employees at all levels inanti-corruption and compliance with theCode of Business Ethics and Conduct. In the current year, the Company'santi-corruption and business ethics training covered all employees, interns, suppliers, and contractors.
Guide new joiners to build a sense of integrity in practice, teach the "first lesson"of integrity practice and grasp the "first button" of integrity practice.For new joiners
We urge responsible persons of enterprises to carry out their duties of "one postand two responsibilities", strictly manage the party's responsibility of managingthe party, and lay a good foundation for the building of party style and integrity.For responsible
persons ofenterprises
Through the “Monthly Talk” campaign of building Party integrity, we haveconducted discipline and law classes and warning education, covering middle-level cadres and employees in key positions at all levels and sub-enterprises.Employees in key positions such as sales carry out integrity warning educationto remind employees to strictly abide by the bottom line of discipline.For cadres andemployees in keypositions
Organise the Integrity Culture Month around the “Granular Return” and “146”integrity culture systems. More than 110 learning and educational materialswere regularly pushed and 4 full-level warning education meetings wereorganized. BNBM supervised and inspected the work mechanism after thefestival, and carried out the education and training on integrity.For all employees
?Party discipline study and education Special Party course ?2024 Awareness and development meeting of the month
of corruption and culture
This year, the Company’s project of “Deepening Integrity Culture Construction and Promoting High-qualityDevelopment of State-owned Enterprises” was awarded the Third Prize for Excellent Achievements in the Reformand Development of Chinese Enterprises in 2024.Performance of key integrity risk management in 2024
37 personnel participated in cadre inspection, 55 personnel participated in postcompetition and democratic recommendation supervision, and issued87 cleanand self-discipline replies. Secretary of the Discipline Inspection Commissionconducted40 clean-up talks before his appointment, 56 heart-to-heart talkswith team members, and90 talks with the functional departments of the
headquarters and the "top leaders" of affiliated enterprises.
Deepen dailysupervision
BNBM signed theLetter of Responsibility for the Building of Party Style and Integritywith member enterprises across all levels, and the Letter of Commitment for Integrityand Self-discipline with88 leading cadres.Reinforceaccountability
The Company carried out special rectification work on "turning public into private",and investigated6,864 leading cadres and key positions at all levels and above.The segment companies organized294 inspections targeting their affiliatedenterprises, focusing on key areas such as official vehicle management, businessreceptions, and use of trade union funds. No violations were noted.Preventionand control ofintegrity risks
More than 110 learning and educational materials were regularly pushed, 4 full-level warning education meetings were organized,14 special reminders wereissued in procurement and marketing. The anti-corruption training covers100% of employees.Promoting
integrityeducation
033034
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
Implement risk prevention andcontrol
The Company fully implements the national policies and policies, and integrates risk management into the top-leveldesign. The Group formulated internal policies such as theBNBM Comprehensive Risk Management System, andestablished the internal control system and supervision system as the leader. The internal control system of “1+N”supported by various specific operating standards continuously improves risk prevention and control.The Company has established a comprehensive risk management system, with the Board of Directors as the highestmanagement decision-making body for risk management, a comprehensive risk management leading group headedby the Chairman of the Board of Directors with the joint participation of the operating and management teams, anda three-tier risk prevention and control system consisting of business units, the functional departments involved andthe audit department for the comprehensive implementation of risk management.
The Company carries out risk identification and assessment at the beginning of each year, taking into account thecharacteristics of the industry in which it operates and the actual situation of its operations, in-depth analyses of thechanges in macro policies, market environment and international operations that the Company may face, andsystematically identifies various types of sources of risk and potential risk events, including those in the areas offinance, market, operations and compliance. We quantitatively rate each risk in terms of its likelihood of occurrence,degree of impact and potential consequences to determine the annual significant risks and form a comprehensiverisk management report for management's consideration. After the management's consideration and approval, wewill formulate risk response measures and plans based on the results of the risk assessment, establish a significantrisk prevention and control responsibility account, and dynamically monitor changes in the risk situation in our dailyproduction and operation management. At the same time, we carry out quarterly monitoring to analyse riskexposures and annual significant risk trends, formulate corresponding preventive and control measures based onquarterly risk characteristics, and effectively implement risk prevention and control initiatives to ensurecontrollable risks and promote the sustainable development of the Company.In 2024, the Company steadily promoted the supervision of internal control system, regularly conducted internalaudit on the effectiveness of internal control and risk management process, and issued self-evaluation report oninternal control. We will sort out the deficiencies and deficiencies identified during the audit and urge rectification ina timely manner. In addition, we cooperate with professional external institutions to focus on medium and highrisks and corporate strategies, and conduct external audits on the effectiveness of risk management processes.
During the year
The Company conducted228 internal control audits covering all companies at all levels, both domesticand overseas.
035036
BNBM's three-tier riskpreventionand controlsystem
Business units are responsible for implementing risk management solutions in daily operations and regularly
reporting on the results of risk response measures.
First-tier control
Relevant functional departments conduct risk assessments for various business management and critical
business processes, and formulate risk management solutions.
Second-tier control
The Audit Department of the Company’ s headquarters organizes annual risk identification, risk levelassessments, development of risk response measures and contingency plans, and supervises the risk
management activities of each unit.
Third-tier control
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating Integrity
Construction
Implement riskprevention and control
Complianceoperation
Compliance operationBNBM regards lawful and compliant operation as an important cornerstone for the Company's sustainabledevelopment. We strictly abide by the laws and regulations of the country and overseas operation sites, formulateinternal systems such as the Measures for Compliance Management, continue to improve the operation mechanismof compliance management, implement the responsibility of compliance management, cultivate a good complianceculture, embed compliance requirements in all areas and links of operation and management, and provide solidguarantee for the Company's high-quality development. During the year, the Company signed 4,131 complianceundertakings with all employees in management positions and key positions, continuously enhancing employees'awareness of compliance operation and management in accordance with the law and continuously improving theCompany's compliance systematic management level.Compliance Management SystemImprove the compliance management mechanismThe Company fully implements the "primary person responsible" mechanism for theconstruction of the rule of law. It has established a Compliance Management Committee withthe Company's principal responsible person as the head of the leadership group and theCompany's Chief Legal Counsel as the Chief Compliance Officer and head of the workinggroup. The committee is responsible for organizing and coordinating compliancemanagement efforts, continuously advancing the construction of the Company's compliancemanagement system and major compliance matters, and providing guidance, supervision,and evaluation of the Company's compliance management work. In 2024, the Company’scompliance management committees at all levels held58 meetings, deliberating 121
topics, and effectively promoting the Company’s overall compliance management.Implement compliance management responsibilities
The Company attaches great importance to the construction of the rule of law, continuouslystrengthens the organic integration of business operation and compliance management, andgives full play to the synergy of the “three lines of defense” of compliance management tocontinuously improve the level of managing enterprises in accordance with the law. TheCompany has the business department as the first line of defense to implement compliancemanagement requirements; the legal and compliance department as the second line ofdefense to guide and urge each business department to perform compliance managementresponsibilities; the audit and discipline department as the third line of defense, to verify andimprove the effectiveness of the Company’s compliance management system. We will worktogether to promote compliance management and effectively prevent and control possiblecompliance risks. At the same time, the Company has established a mechanism for reportingviolations. and record it at the Company’s headquarters.
Deepen compliance risk prevention and controlThe Company continued to strengthen compliance management and legal supervision, andcarried out compliance risk investigation in an all-round manner. We organize all-level sub-enterprises to sort out compliance management in key areas, formulate a list of compliancerisks, and investigate compliance risks and violations on a quarterly basis. This year, incooperation with external professional institutions, we conducted compliance evaluationand risk review of BNBM Carpoly and BNBM Waterproof. As the key representative of theCompany’s “Two Wings” strategy, the implementation of relevant work is of greatimportance to enhancing business synergy and implementing the Company’s developmentstrategy.In order to further supervise and promote the construction of overseas business compliancemanagement, we conducted 11 special risk checks on overseas-related businesses. TheGroup strictly prevents and controls overseas risks, and ensures the compliance and highquality of the Company’s business operations. In 2024, the Company reviewed648 rulesand regulations at all levels and sub-enterprises,51 major decisions, 44,440 major
contracts, and compliance review rate reached100%.Cultivate a good compliance culture
The Company actively carries out compliance awareness promotion, and promotes theimprovement of compliance management of its subsidiaries through the compliance riskmonthly report. Topics include compliance management, copyright knowledge, newCompany law, etc. In the current year, the total number of participants in relevant trainingreached12,600.
037038
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating IntegrityConstruction
Implement riskprevention and control
Complianceoperation
Deepening corporate
governance
Adhering to theParty’s leadership
Cultivating Integrity
Construction
Implement riskprevention and control
Complianceoperation
Protecting enterprise information security
The Company strictly abides by theLaw of the People's Republic of China on the Protection of State Secrets, theInterim Regulations on the Protection of Commercial Secrets of Central Enterprises, and other laws and regulations,and has formulated the BNBM Information Security Management Policy to carry out measures to safeguardinformation security in an orderly manner. Since 2021, the Company has been conducting grading filing andassessment on official websites and internal systems to obtain and maintain the second level of cybersecurityprotection.The Company set up a leading group on cybersecurity and informatisation, with the Chairman as the leader of theleading group, to actively lead senior management and all employees in information security protection. At thesame time, the Company has set up a network security and informatisation working group to carry out daily networksecurity management, focusing on the following protection measures:
Border protection
Internal operationand maintenancecontrol
Server protection
Real-time securitymonitoring
Firewall is deployed atthe boundary of thedata center to ensuresecurity control ofbusiness systems, andminimize the risk ofapplication systemexposure on theInternet;
All server operationand maintenance arecarried out throughbastion machines,which effectivelyprevent and controlillegal access, andaudit videos areavailable for the wholeoperation andmaintenance processto achieve traceabilityat each step;
Deploy acomprehensive serverprotection system toenable server virusdetection and killing,Trojans hacker toolprotection,vulnerabilitymanagement, etc.;
Set up a networksecurity supervisionplatform to identifyand deal with risks in atimely manner.
Intellectual Property ManagementAdhering to the protection of intellectual property rights as the core element of encouraging employees to innovate,promoting economic development and ensuring fair competition, the Company strictly abides by thePatent Law ofthe People's Republic of China,theCopyright Law of the People's Republic of Chinaand other relevant laws andregulations. In addition, the Company formulated internal policies such asthe BNBM Patent AdministrationMeasuresto regulate the protection of intellectual property rights, so as to build a sound management system forintellectual property protection.The Company actively arranges patent application work, works closely with technical experts and professionalservice institutions, and efficiently promotes the application of intellectual property rights through detailedtechnical separation and in-depth background research. In addition, the Company keeps up with the industry'stechnological development and holds regular technical seminars. We will accurately identify and target theprotection needs of core technologies to effectively prevent the risk of infringement.This year, in response to an infringement of a trademark against the Company, the Company fully fixed theevidences and filed trademark infringement lawsuits in a timely manner, and successfully stopped the infringementby legal means. The trademark protection and fraud case was successfully selected as a typical case of “Iron Fist”action in 2024 People’s Livelihood Cases announced by the Beijing Municipal Administration for Market Regulation.
Key measures forintellectual propertyprotection
Prevention ofinfringement risk
Clear ownership ofintellectualproperty rights
Perform patentmonitoring and
early warning
Perform patent document
search process before
project initiation ortechnology export to ensurethat potential infringement
issues are avoided.
In technical cooperation,
entrusted research anddevelopment, or technology
transfer, the ownership ofintellectual property rights
is clearly defined in the
contract terms to avoidrelated disputes.
Keep an eye on the patent
dynamics in the industryand conduct patent earlywarning and search analysison the technical applicationof the Company’s core
products.
039040
Green and CircularEconomy Products
As a leading domestic enterprise in green building materials, BNBM isdriven by its mission to achieve “Green Technology, Quality Life.”Upholding the development philosophy of “Greenway Builds a BetterFuture,” the Company actively implements low-carbon operationstrategies, vigorously develops a circular economy, and focuses oncreating green products to steadily enhance its core competitiveness ingreen development. We are committed to minimizing the environmentalimpact of production and operational activities, continuously improvingresource efficiency, and fully advancing the realization of the “CarbonPeaking and Carbon Neutrality” goals. We aim to provide innovativesolutions to the environmental challenges faced by society andcollaborate with partners to create a new harmonious lifestyle betweenhuman and nature. In 2024, the Company‘s revenue from greenproducts amounted to more than RMB 17 billion.Advancing the “Carbon Peaking and CarbonNeutrality” strategy
Practicing low-carbon production
Promoting circular economy
Strengthening environmental management
Feature: climate change risks and opportunitiesmanagement
Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promoting
circulareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Advancing the “Carbon Peakingand Carbon Neutrality” strategy
To support the national "30.60" goals and further promote low-carbon development across the value chain, theCompany formulated and released theCarbon Peaking Action Plan of BNBMin 2023. The plan sets a clear target toachieve carbon peaking by 2029 and solidly advance carbon peaking and carbon neutrality efforts.Core PrinciplesThe plan clearly takes "reducing carbon at the source based on reality", "development priority, equal emphasison emission reduction", "innovation-driven, technology-led" and "active, steady and orderly promotion," asthe four core principles, strengthening reduction at the source, strict process control, and optimizing endgovernance. Based on control of total volume, focusing on business structure optimisation, taking raw materialfuel substitution and comprehensive utilisation of resources as the key, and low-carbon technology innovationas the driving force, the Company accelerate the production and application of green building materials.
Strategic GoalsTo implement of energy conservation and emission reduction system measures, the work plan has formulatedoverall goals and characteristic goals based on the Company's development situation, and promoted all-roundemission reduction from point to area.
Overall Goals
The Company’s energy consumption per RMB 10,000 of operating Income willbe reduced by 16% compared with 2020Carbon dioxide emissions per RMB 10,000 of operating income will be reduced by24% compared with 2020By 2025
The Company’s energy consumption per RMB 10,000 of operating Income willbe reduced by 33% compared with 2020Carbon dioxide emissions per RMB 10,000 of operating Income will be reducedby38% compared with 2020.
By 2030
Featured Goals
Proportion of non-fossil energy
consumption
Installed capacity of clean energy power
generation
By 2025Over 15%
By 2029Over 17%
By 2030Over 20%
Target Completion StatusWe have identified three pillars for achieving carbon peaking: green and low-carbon energy transformation,efficient utilization of resources and energy, and vigorous promotion of the circular economy. Through ten keytasks, including comprehensive optimization of production and business layouts, advancement of green andlow-carbon circular transformation, and strengthening of green and low-carbon supply management, we havesteadily progressed toward the Company's carbon peaking and carbon neutrality goals. This year, we not onlyachieved our set targets but also exceeded them. Moving forward, we will continue to maintain our carbonreduction achievements and further explore potential for energy conservation and emission reduction.Energy and Carbon Reduction GoalsAchievements in 2024
OverallGoals
By 2025, based on 2020 levels, thecomprehensive energy consumption per10,000 RMB of operating income willdecrease by 16%.
This year, the comprehensive energy consumptionper 10,000 RMB of operating income decreased by
45.10% compared to 2020.
By 2025, based on 2020 levels, the carbondioxide emissions per 10,000 RMB ofoperating income will decrease by 24%.
This year, the carbon dioxide emissions per 10,000RMB of operating income decreased by 49.27%compared to 2020.FeaturedGoals
By 2025, the proportion of non-fossil energyconsumption will exceed 15%.
This year, the proportion of non-fossil energyconsumption reached approximately 14.44%.By 2025, the installed capacity of cleanenergy power generation will reach 40megawatts.
This year, the installed capacity of clean energypower generation reached 50.05 megawatts.
This year, the Company completed the acquisition of Carpoly and included it in the data. As a result, some data fluctuations arerelatively significant.043044
By 202540MW
By 202955MW
By 203060MW
Advancing the “Carbon
Peaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promoting
circulareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Practicing low-carbon productionBNBM actively responds to the national call for "Action of Central Enterprises for Energy Conservation and CarbonReduction" by continuously promoting low-carbon technological upgrades, vigorously developing clean energy, andoptimizing energy efficiency. The Company is committed to advancing its "Carbon Peaking and Carbon Neutrality"strategy through green manufacturing.
As of the end of the reporting periodThe Company achieved a comprehensive energy consumption of
0.57 tons of standard coal
per 10,000 RMB of output value, a year-on-year decrease of
12.30%；The carbon dioxide
emissions per 10,000 RMB of output value decreased by
12.50%，year-on-year,
exceeding the target.
The Company actively promotes the assessment mechanism energy conservation and emission reduction initiativesacross all production bases by establishing an assessment system with the General Manager of each base as theprimary responsible party. Energy conservation and carbon reduction, as well as ecological environmentalprotection indicators, have been incorporated into the performance evaluation scope of senior management. Thisyear, to better understand the actual carbon emissions of affiliated enterprises and ensure the successfulachievement of the "Carbon Peaking and Carbon Neutrality" strategic goals, we conducted carbon emissionassessments for 8 affiliated enterprises. These assessments helped enterprises understand their carbon emissionstructures and develop targeted carbon reduction measures to ensure compliance with emission reduction targets.Additionally, the Company focuses on reducing carbon emissions throughout the product lifecycle, activelyanalysing product carbon footprints and exploring carbon reduction potential. This year, products such as DragonBrand Company coatings, modified asphalt waterproof membranes, high-solid-content waterproof coatings, andpolymer waterproof membranes obtained product carbon footprint certification.
Promoting the usage of clean energy
BNBM is intensifying efforts in the research and application of clean energy alternatives. To effectively implementthe carbon peaking action plan, the Company has increased investment in clean energy replacement projects,promoting the integration of photovoltaic building systems and green energy applications while simultaneouslyadvancing energy-saving and carbon-reduction technological upgrades. As of the end of the reporting period, theCompany had 14 photovoltaic power generation projects, an increase of 5 compared to the same period in 2023. Thecumulative photovoltaic power generation of enterprises at all levels reached 33,896,600 kilowatt-hours, a year-on-year increase of 28.84%. Additionally, the Company actively promoted natural gas as a substitute for coal, with thecumulative use of natural gas replacing coal equivalent to 129.60 thousand tons of standard coal, effectivelyreducing greenhouse gas emissions by approximately 347.70 thousand tons of carbon dioxide equivalent.Furthermore, the Company continues to research biomass fuel applications and rooftop heat collectiontechnologies to facilitate the transition to low-carbon production.
Reducing production energy consumptionBNBM continuously improves energy and resource use efficiency through process improvements and equipmentupgrades. We adhere to optimizing production technology as a key approach, reducing energy consumption fromthe source, and contributing to the achievement of carbon reduction goals. In 2024, the Company's gypsum boardproducts achieved a year-on-year decrease of 2.83% in coal consumption per unit and a 5.34% decrease inelectricity consumption per unit. The comprehensive energy consumption per 10,000 RMB of output value forwaterproof products decreased by 0.14%.
045046
In 2024, Taishan Gypsum has completed thecoal-to-clean energy transformation for thefirst and second production lines in the TaiheIndustrial Park, as well as the Changzhi andHeze branch plants.
Shaanxi BNBM has completed the biomassand natural gas heat source transformationproject, with the proportion of non-fossilenergy exceeding 50%. This initiative isexpected to reduce carbon dioxide emissionsby approximately 20,000 tons annually.
Enhancing Energy and Resource Utilization Efficiency through Green Intelligent Manufacturing
By developing technologies forcontrolling the crystal morphologyof desulfurized gypsum andsolidifying soluble chloride ions, weachieve high-quality resourceutilization of industrial by-productgypsum. This reduces energyconsumption in gypsum productproduction. It is estimated that asingle production line with anannual capacity of 30 million squaremeters of gypsum board can reduceCO? emissions by approximately630 tons per year.
High-Quality Raw MaterialPreparation Technology
We innovatively developed a "near-zero emission" process forproducing gypsum boards usingcoal-fired heat sources, enablingclean and efficient utilization of coalheat. It is estimated that a singlegypsum board production line canreduce CO? emissions by 887 tonsannually. Additionally, bydeveloping a low-nitrogen andenergy-efficient natural gas heatsource production process, a singleproduction line with an annualcapacity of 30 million square metersof gypsum board is expected toreduce CO? emissions byapproximately 3,200 tons per year.
Low-Carbon and Eco-Friendly
Production Technology
We have established a high-stabilityadaptive control system for gypsumboard production with independentintellectual property rights,achieving millimeter-level precisioncontrol. Through intelligentproduction lines and independentR&D of key equipment, we enhanceproduction line efficiency,continuously improve operationalefficiency, and achieve costreduction and efficiencyimprovement.
High-Speed IntelligentManufacturing Technology
Furthermore, the Company’s production bases focus on reducing energy consumption in operational processes.This year, Tianjin Beacon Coatings utilized a cooling tower system, intermittently operating cooling tower fans andrefrigeration units based on seasonal, temperature, and production process requirements, cumulatively saving35,000 kWh of electricity.
Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmentalmanagement
Feature: climate change
risks and opportunities
management
Promoting circular economyBNBM is committed to advancing the "greening of buildings, cities, and living environments," accelerating theconstruction of a circular economy system, vigorously promoting building energy efficiency and prefabricatedbuildings, and striving to create a full lifecycle product management process of "design-recycling-reprocessing,"enhancing the green and environmental attributes of its products.We are committed to integrating the concepts of green, low-carbon, and environmental protection into every stageof the product's entire life cycle:
Green Raw MaterialsGreen DesignGreen Manufacturing
Annual consumption of industrial by-product gypsum
1420144014601480150015201540
202220232024
1458.19
1480.87
1523.78
year
10,000tons
Adhere to technologicalinnovation, focusing onenhancing the quality ofdesulfurized gypsum toachieve the recycling ofindustrial by-productgypsum. Implement resourcecascading utilization and thereuse of scrap materials fromthe source, therebyimproving resourceutilization efficiency.
From the outset, integrateenergy-saving, carbonreduction, pollutionreduction, and greenrecycling concepts intoproduct design, creatinghigh-quality green productsthat meet market demands.
Establish low-carbon andeco-friendly productionprocesses, acceleratingenergy-saving technologicalupgrades and energysubstitution to achievecarbon reduction inproduction, promoting low-carbon and clean industrialdevelopment.
Green ApplicationDevelop green building materials suitablefor prefabricated constructionrequirements, pioneering the concept offull-house assembly using gypsum-basedmaterials. This approach replaces high-resource, high-energy-consuming bulkbuilding materials, driving thedevelopment of green buildings.
Green RecyclingAccelerate research and development oftechnologies for recycling waste gypsumboards, reducing waste generation andminimizing the environmental impact atthe end of the product lifecycle.
Green raw materialsBNBM consistently drives the comprehensive utilization of resources through technological innovation,continuously overcoming technical bottlenecks. By improving the quality of desulfurized gypsum from the sourceand using high-quality raw materials for premium production, the company produces 100% of its gypsum boardsusing industrial by-product gypsum, achieving the recycling of industrial by-product gypsum.In 2024, the Company utilized 15,237,800 tons of industrial by-product gypsum, an increase of 2.90% compared tothe previous year.
Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmental
management
Feature: climate changerisks and opportunities
management
BNBM vigorously develops green and low-carbon industries and supply chains, continuouslyadvancing projects for the resource utilization of desulfurization gypsum solid waste. Nationwide,BNBM accounts for 60% of the consumption of desulfurization gypsum, making a significantcontribution to the development of the circular economy in the industry:
Resource Utilization of Desulfurization Gypsum
?BNBM (Tianjin) Co., Ltd. utilizes desulfurization gypsum from large coal-fired power plants within a 10-
kilometer radius, helping these plants consume nearly 300,000 tons of desulfurization gypsum annually.?Ningbo BNBM Co., Ltd. consumes approximately 227,000 tons of desulfurization gypsum each year,transforming them into high-quality building materials.?Taishan Gypsum has successfully developed technology to produce gypsum boards using 100%
industrial by-product gypsum. This innovation enables the annual digestion of over 15 million tons of
industrial by-product gypsum, reducing the land occupation for gypsum storage by more than 4,000
acres.
Taishan Gypsum has consistently explored the full-process management and innovative practices oftransforming industrial solid waste into green building materials, with 5 enterprises acquiring the title of“no-waste enterprise”. In 2024, its "Resource Utilisation of Industrial Solid Waste in the Building MaterialsIndustry: Zero-Waste Model" was selected as a model case for "Zero-Waste Enterprises." Taishan Gypsumrecycles all major solid waste generated during production (gypsum board scraps and dust collector ash) asraw materials for the gypsum board production line. It also continues to recycle gypsum board scraps anddiscarded facing paper, reprocessing these materials through technical treatments and reusing them as rawmaterials to produce products that meet relevant standards, achieving efficient resource recycling.
Taishan Gypsum Selected as a Model "Zero-Waste Enterprise"
?Coverage of Taishan Gypsum’s Selection ?Recycling of Waste Facing Paper
BNBM (Tianjin) Co., Ltd. has established its own sewage treatment station, integrating bothdomestic and production wastewater into the treatment system. The treated water meetsproduction water standards, enabling water resource recycling. In 2024, the Company saved10,000 tons of water and achieved the goal of zero wastewater discharge.
Water Resource Recycling Through Self-Built Sewage Treatment Stations
BNBM Waterproof has conducted extensive research on the utilization of waterproof membranescraps and recycled materials, earning multiple patents and awards. The Company uses crushersor pelletizers to reprocess edge scraps and recycled materials from waterproof membranes,reusing them as raw materials in production. Through technical treatments, the Companyensures the products meet relevant standards, achieving resource recycling.
Patent Research on Waste and Recycled Materials
At the same time, the Company actively utilizes production waste heat, power plant waste heat, andproduction condensate for manufacturing activities, and reuses scrap materials for secondaryproduction, achieving resource recycling. This year, the company replaced approximately 49,700 tons ofstandard coal by using waste heat steam from power plants.
Green Design
BNBM consistently emphasizes low-carbon production, green application, and convenient recycling ofmaterials from the initial stages of product design. By reducing carbon emissions in the productionprocess and enhancing the environmental performance of products, the Company creates high-qualitygreen products that meet national standards and market expectations. This year, multiple gypsumboard and coating products from BNBM received green product certifications.
Multiple products of the Company have obtained green product certifications
As of the end of the reporting period, the Company’s 161 products such as Taishan Gypsum’sstandard paper-faced gypsum boards, Dragon Brand Company’s gypsum boards, BNBM coatings havebeen awarded China Green Product Certification. Additionally, 85 products including Dream Brand NewMaterials' wall putty, Dragon Brand Company’s coatings, Tianjin Beacon's interior and exterior wallcoatings have obtained China Environmental Label Product Certification.
?Multiple products of BNBM have obtained green product certifications
Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Green manufacturing
BNBM continuously develops low-carbon and environmentally friendly product manufacturing processes, achievingenergy conservation and emission reduction in production, and promoting the low-carbon and clean developmentof the industry. The main measures we have taken include:
Green ApplicationWith environmental protection, energy saving and sustainable development as its core concepts, BNBM hasformulated green product research and development strategies and plans. In recent years, the Company hassuccessfully developed a series of high-performance and multi-functional green building materials products, such asnet aldehyde gypsum board with the function of adsorption and decomposition of formaldehyde, phase-changegypsum board that can realise the function of automatic adjustment of indoor temperature and other functions, andLuban universal board with the function of decorative decoration and applicable to the requirements of assembledbuildings, etc. These products can replace the consumption of bulk building materials products such as cement thatare high in resources and energy consumption, and continue to meet the functional demands of the modern livingenvironment for health, environmental protection, comfort and et cetera.Simultaneously, the Company actively promotes the development of green buildings through its products,pioneering the concept of full-house assembly using gypsum-based materials. It has developed a series of integratedgypsum-based structural, functional, and decorative components, establishing a prefabricated system solution. Thisprovides customers with a one-stop green building solution from design and construction to operation andmaintenance, enhancing construction efficiency and reducing environmental impact and resource consumption.
Developing a "near-zeroemission" process technologyfor producing gypsum boardsusing coal-fired heat sources,and independently researchinga "two-step precise calcination"process to achieve cleanutilization of coal.
Developing "low-nitrogenenergy-efficient natural gasheat source production processfor gypsum boards" and othertechnologies to enhance theuse of diversified energysources.
Advancing the substitutiontechnology of coal-fired heatsources in gypsum boardproduction lines, acceleratingthe use of biomass fuels, wasteheat steam, photovoltaic powergeneration, wind power, andother energy sources,significantly reducinggreenhouse gas emissions.Some technologies havereached internationally leadinglevels.For more details on low-carbon production and environmental protection initiatives and achievements, please referto the sections "Advancing the “Carbon Peaking and Carbon Neutrality” strategy," "Practicing low-carbonproduction," and "Strengthening environmental management" in this report.
Key Applications and Advantages of Gypsum Boards in Green Buildings
No harmful substances or gases are emitted during use, and the production process ismore energy-efficient and environmentally friendly.
Environmental
Performance
Effectively absorbs noise and reduces its transmission, well supporting thearchitectural needs of environments like hospitals, schools, and theaters.
AcousticPerformance
Effectively isolates heat transfer between indoors and outdoors, reducing energy loss.
Thermal InsulationPerformance
BNBM's globally original Luban universal board full-house assembly system and Dragon brand paint havesuccessfully created a green, eco-friendly, and move-in-ready office environment, gaining wide recognitionfrom the industry. This system innovatively addresses the pain points of traditional materials, such ascomplex processes, long construction periods, excessive on-site waste, extended post-renovation ventilationtime, and environmental concerns. By shortening construction timelines and improving the environment, itachieves "move-in-ready" status, realizing a "high-quality, low-cost, green" construction model.
Full-House assembly system creates a green, eco-friendly, and healthy living environment
Green recyclingcontinuously advances waste recycling and reuse initiatives. The Company persistently researches, develops, andstockpiles gypsum board recycling technologies to accelerate the regeneration of discarded building materials andmitigate the environmental impact during the end-of-life stage of its products.
Illustration of theGreen RecyclingProcess forGypsum Boards
Collection and Transportation of
Waste Gypsum BoardsSorting and Pretreatment to
Remove ImpuritiesRushing and Grinding toProduce Gypsum PowderImpurity Removal via Air Separationand Magnetic Separation
Reuse of Gypsum Powder inProduction
Advancing the “Carbon
Peaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmental
management
Feature: climate change
risks and opportunities
management
BNBM continues to advance the recycling of waste gypsum boards.In 2024, Zhaoqing BNBM Co., Ltd. recycled a total of 2,310 tons ofwaste gypsum boards, including approximately 15 tons of recycledgypsum boards and scraps from external markets.
Recycling and Reuse of Waste Gypsum Board
?Recycling of waste gypsum board by BNBM Zhaoqing
BNBM actively promotes the recycling and utilisation of waste paper. Its subsidiary, Taishan Gypsum Co., Ltd.,has innovatively replaced the raw materials for gypsum board facing paper—originally wood pulp and strawpulp—with 100% waste paper. This initiative truly embodies the concept of "consuming waste and benefitingfrom waste," enabling the annual digestion of over 500,000 tons of waste paper. This effort effectivelyalleviates environmental pressure and protects land and forest resources.
Resource Utilization of Waste Paper
?BNBM actively participates in the first Sino-US Circular Economy Cooperation Forum
Strengthening environmentalmanagementBNBM strictly complies with theEnvironmental Protection Law of the People's Republic of China, theAir PollutionPrevention and Control Law of the People's Republic of China, theCleaner Production Promotion Law of thePeople's Republic of China, theEnergy Conservation Law of the People's Republic of China, and other laws andregulations related to energy conservation and environmental protection. This year, the Company formulated andreleased itsEnvironmental Policy Statement
, continuously optimized its environmental management system,implemented diversified environmental protection measures, strengthened ecological and environmentalsupervision, and comprehensively promoted the progress of environmental governance.The Company earnestly fulfils its primary responsibility for environmental management, continuously improvinginternal systems such as theBNBM Ecological Environmental Protection Responsibility Policy and the BNBMEcological Environmental Protection Management Policy. It links management compensation to environmentalmanagement performance indicators, where serious environmental violations may impact their compensation andperformance. The Company also continuously refines the Environmental Protection Management Policy for itssubsidiaries to ensure the comprehensive and effective operation of the environmental management system.To strengthen the environmental management system, the Company actively promotes ISO 14001 EnvironmentalManagement System certification across its subsidiaries. All production bases of the Company conductenvironmental management in accordance with the ISO 14001 Environmental Management System and establishinternal standards to evaluate the management effectiveness of each production base. This year, all production andoperation enterprises of the Company obtained ISO 14001 certification.
Previous Year’s Targets2024 Work ProgressSulfur dioxide (SO?) emission intensity < 20 mg/m?
SO? emission intensity: 0.26 kg/RMB10,000 of industrial output, a 29.88%year-on-year decrease.Nitrogen oxides (NO?) emission intensity < 30 mg/m?
NO? emission intensity: 0.54 kg/RMB10,000 yuan of industrial output, a
16.57% year-on-year decrease.
Industrial particulate matter emission intensity < 5mg/m?
Particulate matter emission intensity:
0.07 kg/RMB 10,000 of industrial
output, a 32.01% year-on-yeardecrease.
Environmental Policy Statement: https://www.bnbm.com.cn/esgdt.html
Meanwhile, the company actively participates in circular economy-related forums and seminars, collaborating withindustry and society to explore the application and development pathways of the circular economy concept.
Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promoting
circulareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Enhancing the Environmental Management SystemTo effectively advance environmental management, the Company has established a comprehensive environmentalmanagement framework, including the Board of Directors, the Strategy and ESG Committee, the Safety andEnvironmental Protection Department and Member Enterprises. This framework creates a top-down managementmechanism and builds a vertical management chain of "Headquarters – Business Units – Subsidiaries", ensuring thecontinuous implementation of environmental protection and ecological construction across all levels.
To continuously monitor environmental performance and effectively identify and prevent environmental risks,BNBM requires all subsidiaries to implement the PDCA (Plan-Do-Check-Act) cycle management mechanism. Thisapproach aims to refine and optimize environmental risk management processes and outcomes. At the beginning ofeach year, each subsidiary formulates an environmental self-monitoring plan and strictly adheres to it byconducting environmental impact auditing at least once annually in collaboration with professional externalagencies. This process involves identifying and evaluating environmental impact factors, including the emissionof hazardous substances and waste, as well as identifying hazard sources and assessing associated risks. Themonitoring plans and results must be disclosed in accordance with local environmental protection regulations andare integrated into the local ecology and environment bureau’s online monitoring system for real-time emissiondata tracking.For identified environmental risks and potential hazards, subsidiaries are required to promptly develop targetedcontrol strategies and corrective measures to prevent incidents. As of the end of the reporting period, subsidiariesidentified and addressed 3,420 environmental hazards, with all issues rectified.Additionally, guided by the headquarters’ principles, subsidiaries have established systems such as theManagement Measures for Environmental Emergenciesand theEnvironmental Risk Hazard Investigation andControl Policy. These systems are continuously improved based on the characteristics of each production base.Subsidiaries also regularly update their lists of significant environmental factors, conduct risk investigations andassessments, and organize comprehensive and specialized emergency drills. In 2024, BNBM did not experience anymajor environmental incidents.Reducing production environmental impactBNBM strictly adheres to national and local regulations and implements internal management systems such as theBNBM Ecological Environmental Protection Management Policyto standardize wastewater, exhaust gas, and wastemanagement processes across its subsidiaries. This year, the Company further reduced pollutant emissions and theenvironmental impact of production through continued promotion of near zero emission techniques, clean energyreplacement, intelligent exhaust gas management, et cetera. compliance rate for pollutant emissions was 100%.In 2024, the Company achieved "near-zero emissions" across all levels of its 52 member enterprises, with 33 of thembeing awarded the national title of "Green Factory" and 39 receiving the provincial "Green Factory" designation.Wastewater ManagementThe Company strictly complies with local wastewater discharge standards. Production bases install wastewatertreatment facilities to preliminarily treat production wastewater and cooling water, which is then reused ordischarged to municipal treatment plants after meeting standards. In 2024, the Company strengthened emergencywastewater management by constructing emergency pools at production bases. These pools timely collectrainwater to continuously refine the separation of rainwater and pollutant water, and ensure monitored, treated,and unified discharge.
Overseeing the implementation and supervision of theCompany’s environmental management and performance as thehighest-level management institution responsible forenvironmental matters.The Board
Assisting the Board in supervising environmental matters,regularly collecting environmental management updates fromrelevant departments, and reporting them to the Board.Strategy and ESGCommittee
Mainly undertaking environmental management responsibilitiesin areas such as energy conservation, emission reduction andecological protection, and regularly reporting to the Strategy andESG Committee.Safety and EnvironmentalProtection Department
Undertaking the environmental management work from theheadquarters, establishing an environmental protectiondepartment, improving tasks such as risk identification, jobinspections, supervisory checks and system construction, ensuringthe effective implementation of environmental managementmeasures, and regularly reporting to the headquarters.Segment Companies andSubsidiaries
BNBM environmental management system
055056
Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Exhaust Gas ManagementThe Company maintains high standards for exhaust gas treatment, setting "near-zero emission" thresholds stricterthan national and industry standards: <20 mg/m? for SO?, <30 mg/m? for NO?, and <5 mg/m? for particulate matter.These standards are gradually applied to gypsum board production lines. In 2024, subsidiaries improved exhaust gasmanagement using intelligent methods tailored to their production processes. Gypsum board enterprises areimplementing near-zero emission standards, while waterproof material companies are utilizing RTO (RegenerativeThermal Oxidizer) systems to mitigate the pollution of the atmospheric environment caused by organic waste gases.
This year, with the support of the government expert panel, the Sichuan base of BNBM Waterproofsuccessfully passed the A-level performance construction and evaluation in the waterproofing materialsindustry through technological improvements and comprehensive pollution emission managementmeasures. By implementing a full-process negative pressure extraction RTO incineration solution, the wastegas treatment rate was increased to 90%, significantly reducing pollutant emissions. Additionally, thecompany ensured comprehensive pollution emission management by identifying all waste gas generationpoints and taking targeted measures to guarantee low emission of pollutants throughout the productionprocess. It also regulated the emission of waste gases from upstream and downstream transportationindustries, driving the green transformation and development of the industry.
BNBM Waterproof Sichuan Base Achieves Grade A Performance Rating
This year, BNBM Carpoly upgraded its VOCs treatment process to "rotary adsorption + RCO (catalyticcombustion)" and added an RTO system for high-concentration VOCs and a collection system for low-concentration emissions. This reduced the RCO system’s load, lowering VOCs emissions to 6 mg/m? andcutting annual emissions by 9 tons of VOCs, 8 tons of NO?, and 4 tons of SO?.
BNBM Carpoly’s RTO Treatment System Upgrade
?BNBM Carpoly’s RTO Treatment System
This year, Carpoly’s Anhui plant upgraded its hazardous wasteand water treatment areas to collect unorganized exhaust gases,reducing non-methane hydrocarbon emissions. In 2024, the watertreatment system operated for 2,392 hours, reducing emissionsby 227 kg of non-methane hydrocarbons, 62 kg of ammonia, and4 kg of hydrogen sulfide.
BNBM Carpoly’s Unorganized Exhaust Gas Recovery Project
?BNBM Carpoly’s Unorganized ExhaustGas Recovery
Waste managementThe Company strictly complies with national laws and industry standards, strengthening hazardous wastemanagement based on theNational Hazardous Waste List (2021 Edition),and continuously refiningEcologicalEnvironmental Protection Management Policyand other internal management policies. General industrial wasteand hazardous waste are handled strictly to ensure efficient and compliant waste disposal. For general industrialwaste, each production base of the Company has set up a general solid waste warehouse, classified management ofgeneral solid waste, classified storage, and regularly disposed waste. For hazardous waste, the waste generationdepartment of each production base of the Company shall transfer the hazardous waste to the temporary storageroom on the same day, and carry out separated storage according to the type of hazardous waste, strictly regulatethe management of hazardous waste in and out of the warehouse network, carry out electronic and manualaccounts registration, and entrust a professional third party to deal with the hazardous waste on a regular basis, toachieve the hazardous waste disposal in a compliant manner.
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Advancing the “Carbon
Peaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Enhancing Employee Awareness of Environmental ProtectionTo implement environmental measures and strengthen employee awareness, the Company conductedenvironmental training for 30,247 participants on topics such as solid waste classification, air pollution prevention,and emergency response plans.
In 2024, Taishan Gypsum organized training on solid and hazardous waste management, air pollutionprevention, and environmental standardization, deepening employees’ environmental awareness.
Taishan Gypsum’s Environmental Training
?Taishan Gypsum organizes environmental training
Carpoly engaged 1,267 employees across 9 productionbases in National Energy Conservation Week and Low-Carbon Day activities. This initiative deeply implementedthe concept of ecological civilization and promoted theCompany's green and low-carbon development. TheCompany encouraged employees to practice green andlow-carbon principles in their daily lives through measuressuch as saving electricity and reducing the use ofdisposable items. Additionally, the Company organizedenvironmental public welfare activities to enhanceemployees' sense of social responsibility.
BNBM Carpoly’s Energy Conservation Week
?BNBM Carpoly’s Energy Conservation WeekActivity
Practicing Green Office Initiatives
The Company implemented the Office Resource Management Measures to encourage green office practices,including:
ComprehensiveImplementation of Paperless
Office
Optimization of Water and Energy
Conservation Measures
Creating a Green OfficeEnvironment
All office approvalprocesses are completedthrough the online OAplatform, fullyimplementing paperlessoffice operations. Acentralized managementmodel for office supplieshas been adopted,establishing a sharedoffice supplies inventory.This allows variousdepartments to share dailysupplies such as paper, inkcartridges, and drinkingwater, minimizing paperusage and improving theefficiency of publicresource allocation.
Each production base hasestablished rainwater collectionpools, using the collectedrainwater for landscape irrigationand green plant watering. Bydynamically adjusting theoperating times and controllingthe temperatures of refrigerationunits, electricity consumption isreduced. Lighting and hot watersupply are meticulously managedwith scheduled on/off times tolower energy consumption.
The Company activelypromotes energy-savingand environmentalprotection conceptsthrough various forms ofdaily awarenesscampaigns. These includeposting promotionalposters in public areas,regularly sending energy-saving and environmentalprotection emailreminders to employees,and hosting themedlectures. These efforts aimto enhance employees'environmental awarenessand jointly create a greenoffice environment.
059060
Advancing the “Carbon
Peaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promotingcirculareconomy
Strengtheningenvironmental
management
Feature: climate changerisks and opportunities
management
Feature:
climate change risks andopportunities managementClimate change has become one of the core factors affecting the sustainable development of the Company. BNBM iswell aware of the impact of climate change on its operations and society as a whole. It consistently monitors therisks and opportunities brought by climate change and is committed to providing society with more climate-resilientbuilding solutions. This effort aligns with the Company's mission of "Green Technology, Quality Life," ensuring thepractical implementation of its corporate responsibilities.
GovernanceTo better address the challenges posed by climate change, the Company has integrated climate changeconsiderations into its sustainable development governance framework (see the "Sustainable DevelopmentGovernance Framework" chapter of this report). The Board of Directors of BNBM serves as the highest decision-making body for "Carbon Peaking and Carbon Neutrality" and climate change-related initiatives. The Board’sStrategy and ESG Committee oversees the Company’s overall climate change efforts, including the managementand review of strategies, policies, goals, and progress related to "Carbon Peaking and Carbon Neutrality" andclimate change. The Board reviews updates from the Strategy and ESG Committee on "Carbon Peaking and CarbonNeutrality" progress and other ESG priorities, including climate change, at least once a year, providing guidance andrecommendations.The Company has established an ESG Working Group responsible for implementing the "Carbon Peaking andCarbon Neutrality" strategy, identifying climate change risks and opportunities, and guiding departments to takespecific actions toward climate-related goals.The Company links management performance to energy management, carbon emissions, and other climate-relatedmetrics to ensure the effective implementation of "Carbon Peaking and Carbon Neutrality" and climate strategies.Additionally, it conducts annual training for the Board, management, and key personnel on topics such as "CarbonPeaking and Carbon Neutrality" and climate risks and opportunities, enhancing their understanding and capabilitiesin climate-relatedmatters.
StrategyThis year, based on its "Carbon Peaking and Carbon Neutrality" strategy (see the "Advancing the Carbon Peakingand Carbon Neutrality" chapter of this report) and business operations, BNBM further identified and assessed theshort-, medium-, and long-term impacts of climate risks and opportunities on its operations and financialperformance. This process incorporated future climate change trends
, internal and external expert advice, andindustry developments.Climate-Related Risks
The Company’s transition risks primarily stem from its operations and downstream market preferences, whilephysical risks include extreme weather events and chronic risks affecting upstream supply chain stability andoperations. Given the Company’s comprehensive low-carbon development strategy across all operational areasand its proactive measures to address physical risks, the overall level of climate-related risks is relatively low. Thetable below outlines the Company’s major climate risks and corresponding mitigation measures.
The Company refers to key climate change development trends, including research on China’s " Carbon Peaking and CarbonNeutrality " policies and reports from the Intergovernmental Panel on Climate Change (IPCC), the International Energy Agency (IEA),and the Network for Greening the Financial System (NGFS).
推进“双碳”战略践行低碳生产强化环境管理专题：气候变化风险与机遇管理推动循环经济
061062
Advancing the “Carbon
Peaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promoting
circulareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Risk Description and Potential ImpactImpact Period
Response StrategiesTransition RisksPolicy andLegal
?As China advances its "30.60"goals, new policies supportinglow-carbon transformation arebeing introduced nationwide,increasing compliance costs forhigh-emission economicactivities.?With the Company’s business
expanding overseas, theintroduction or enhancement ofclimate-related laws andregulations globally may increasecompliance costs.
Medium term,Long term
?Closely monitor low-carbon policy
developments in operating regionsand industries, accelerate corporatetransformation, and firmlyimplement green, low-carbondevelopment strategies and carbonpeaking action plans.
Technology?Under increasingly stringent
carbon reduction policies, theCompany needs continuousinnovation in low-carbonprocesses and technologicalupgrades, potentiallyaccelerating productiontechnology replacement andincreasing capital andoperational expenditures.
Short term,Medium term,Long term
?Strengthen R&D capabilities,
establish and effectively utilize"Carbon Peaking and CarbonNeutrality" R&D platforms, andpromote the adoption of newenergy-saving and carbon-reduction technologies andmethods across factories.Market?Downstream value chains and
customers are increasinglyfocusing on the low-carbonattributes of products andservices, raising demands for theCompany’s main products.Failure to meet these demandsmay hinder market expansion orreduce revenue.
Long term?Intensify R&D for green product
technologies and production lines,accelerate the commercialization ofgreen products, and expand marketshare for green products.
Reputation?Stakeholders continue to
monitor the Company’sperformance in green, low-carbon development and climatechange response. Failure to meetexpectations may harm theCompany’s reputation andmarket performance.
Short term,Medium term,Long term
?Gradually build a green building
materials brand, enhance brandpromotion, and elevate theCompany’s influence andsustainability image in the valuechain.
In alignment with the national "Carbon Peaking and Carbon Neutrality" strategy and the Company’s business development plans,the short term is defined as “reporting period to 2025”, the medium term as 2025 to 2029 (consistent with the Company’s carbonpeaking action plan), and the long term as 2029 to 2060 (consistent with the national carbon neutrality strategy).
Risk Description and Potential ImpactImpact Period
Response Strategies
Physical RisksAcute Risks?Increased frequency of natural
disasters such as hurricanes andfloods due to climate changemay lead to water and poweroutages, facility damage,operational disruptions,equipment destruction, andemployee safety threats,increasing operational andcapital expenditures.?Extreme weather may impactupstream value chain enterprises(e.g., gypsum producers, powercompanies), causing supply chaindisruptions and price fluctuationsfor raw materials and energy,increasing production costs.
Short term,Medium term,Long term
?Develop emergency management
measures for extreme weather,establish monitoring and earlywarning mechanisms, and conductnatural disaster drills at productionbases to ensure sufficientemergency supplies.?Monitor official warnings for naturaldisasters and extreme weather,assess impacts on subsidiaries, andcoordinate resources for support.?Investigate historical weather,hydrology, and geological hazardswhen building new plants tominimize impacts from extremeweather and chronic climatechanges.ChronicRisks
?Failure to control climate change
may accelerate sea-level rise andwidespread water shortages,potentially forcing relocations,shortening equipment lifespans,and disrupting operations,leading to reduced revenue andincreased production costs.
Long term
Climate-related opportunitiesBNBM is well aware of the necessity of low-carbon development for the Company and actively seizes marketopportunities in green development, extensively deploying green products, which account for nearly 80% of itsrevenue. At the same time, we actively research and apply clean energy alternatives to reduce operating costs. Thetable below lists the Company’s main climate-related opportunities and response measures.
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Advancing the “CarbonPeaking and CarbonNeutrality” strategy
Practicinglow-carbonproduction
Promoting
circulareconomy
Strengtheningenvironmentalmanagement
Feature: climate changerisks and opportunities
management
Opportunity Description and Potential ImpactImpact PeriodResponse StrategiesProductsand Services
?Guided by the national "CarbonPeaking and Carbon Neutrality"strategy, green and low-carbondevelopment in the constructionindustry will become the maindirection for the industry andmarket. The Company’scontinuous development ofgreen products and diversifiedlow-carbon solutions that meetmarket demands may bring moremarket opportunities andrevenue.
Short term,Medium term,Long term
?The Company continues to promotethe greening of buildings, cities, andliving environments, viewing thedevelopment of green and low-carbon building solutions as asignificant market opportunity. Itactively promotes the application ofcircular economy principles,building a green building industrychain across the entire lifecycle, andcomprehensively enhancing theenvironmental attributes of itsproducts. (See the "PromotingCircular Economy" chapter of thisreport.)Resilience?The increasing frequency of
extreme weather events such astyphoons and heavy rains due toclimate change raises thedemand for higher buildingquality. The Company’saccelerated development andpromotion of diversified, high-quality building products canenhance building resilience,better meet future marketdemands, and bring more marketopportunities and revenue.
Medium term,Long term
?The Company adheres to its "One
Body, Two Wings and GlobalLayout" strategy, continuouslydeveloping high-quality products inits three core business areas ofgypsum boards, waterproofing, andcoatings. It enhances productcharacteristics such as corrosionresistance, durability, and waterresistance, expanding productapplicability and improving buildingresilience. (See the "Products andApplications" section of theCompany’s official website.
)ResourceEfficiency
?The Company’s production and
operations consume certainamounts of energy and waterresources. Continuous energy-saving and environmentaltechnology upgrades andsubstitutions can reduceresource usage and lower energyand natural resourceprocurement and usage costs.
Short term,Medium term,Long term
?The Company’s production bases
continuously implement energy-saving and environmentaltechnology substitutions to improveproduction efficiency and reduceresource consumption.?The Company has initiated thesubstitution of coal with cleanenergy sources such as biomass andnatural gas, reducing operationaland product carbon emissions. (Seethe "Practicing Low-CarbonProduction" chapter of this report.)EnergySources
?With the gradual improvement of
the national carbon emissionstrading market, accelerating thereduction of the Company’scarbon emissions and fullytransitioning to clean energy laysa solid foundation forparticipating in carbon trading,potentially bringing additionalrevenue.
Medium term,Long term
The link to the "Products and Applications" section of BNBM's official website: https://www.bnbm.com.cn/column/32/
Risk ManagementBNBM continuously monitors the impact of climate change on its operations and integrates climate-related risksinto its overall risk management system. Based on actual business conditions, the Company conductscomprehensive risk identification annually, combining feedback from departments, industry analysis, and externalexpert advice to identify potential climate-related risks and opportunities. For identified risks and opportunities, theCompany uses internal risk assessment tools to prioritize them based on their likelihood of occurrence and theirfinancial and operational impact. Targeted response measures are then developed, and their implementation isregularly monitored. For details on the Company’s risk management system, please refer to the "Implement RiskPrevention and Control" chapter of this report.
Metrics and Targets
Based on the analysis of climate-related risks and opportunities, BNBM has prioritized the establishment of energyconservation and emission reduction targets. These targets are regularly evaluated to effectively address climatetransition risks and seize market opportunities in low-carbon development. For details on BNBM’s energyconservation and emission reduction targets, please refer to the "Advancing the Carbon Peaking and CarbonNeutrality" chapter of this report.
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High StandardSolutionsAs a leading enterprise in the green building materials segment,BNBM closely follows the national strategy of promoting high-quality development. Through high-quality product services, aninternally and externally linked innovation ecosystem, and digitaland green low-carbon technological transformation, the Companycontinues to contribute to the high-quality economic and socialdevelopment of the country.
Promote technological innovation
Develop new productive force through green transition
Serve engineering projects with green concepts
Deliver optimal services
Promote technological
innovation
Serve engineering projects with
green conceptsDeliver optimal
services
Develop new productive forcethrough green transition
Deliver optimal services
Ensuring product quality and improving product excellence are the foundation of BNBM's stable progress. TheCompany, centred on the philosophy of "first-class quality, first-class products, first-class service," is committed toachieving steady growth in operational efficiency and continuous improvement in development quality. At the sametime, we provide users with healthier, safer, and higher-quality solutions, supporting their sustainable developmentand jointly creating a harmonious and progressive industry atmosphere.Quality Management FrameworkBNBM continues to strengthen its high-quality management system, constantly pursuing excellence in product andservice quality, and has established a new competitive advantage in cooperation centred on technologicalleadership, standardized operations, brand building, quality excellence, and superior service.In accordance with theBNBM Product Quality Management System, the Company has clarified a top-down qualitymanagement structure to ensure that employees at all levels can effectively participate in product qualitymanagement. The Company has formulated theBNBM Management Plan for Quality Supervision, conductingirregular quality management inspections and supervision of its affiliated business segment companies. Based ontheir business characteristics, the affiliated companies have developed internal management systems such as theQuality Management Policy and Quality Supervision and Management Measures, standardizing managementmethods for procurement, production, quality inspection, quality evaluation, and other stages, achieving full-process quality management of products. Additionally, we strictly regulate the use of raw materials, clearlystipulating and ensuring that all Company products do not contain or add harmful substances in accordance withindustry standards, guaranteeing the safety and reliability of products during use.This year, the Company actively advanced ISO9001 quality management system certification work. 95 of theCompany's production bases have obtained ISO9001 quality management system certification.Furthermore, the Company emphasizes continuously enhancing the quality awareness and responsibility of allsegment companies. To strengthen refined quality management, the Company has established a qualitycompensation rate indicator, extending cost control requirements from internal production to quality costmanagement, reinforcing management requirements centred on quality to enhance consumer satisfaction andbuild a high-quality product image.The Company also strengthens quality risk prevention and control for all levels of production units. Theheadquarters collects and summarizes production data for various products monthly, benchmarking and comparingdata such as product qualification rates, product unit consumption, and product energy consumption, promptlymonitoring the production quality of Company products. This year, the Company conducted quality workinspections and supervision on 32 production bases, identifying and rectifying 103 issues, with a rectification rate of100%.
Quality Management Goals:
This year, the Company has set and achieved multiple quality management goals:
? 0 major quality incidents
? 100% pass rate in government productinspections
? 0 external quality supervision penalties
?Gypsum board, waterproofing, and coating productqualification rates not less than98%
? 100% product factory pass rate?Customer quality complaint rate not exceeding
0.01%
BNBM’s Dragon Brand Company has successfullydeveloped a “China-Chic” (China fad series) ofgypsum boards with multifunctional properties suchas moisture resistance, fire resistance, formaldehydepurification, and high strength. By using specialproduction processes and formulations, the Companyensures these products maintain superiorperformance even in harsh environments likehumidity and high temperatures, thereby enhancingproduct structural stability and lifespan.
Process Innovation to Enhance Product Lifespan
?Dragon Brand Company’s China-Chic GypsumBoard
069070
Promote technological
innovation
Serve engineering projects with
green conceptsDeliver optimalservices
Develop new productive forcethrough green transition
Quality Management Awards:
This year, the Company actively participated in quality management award activities and achieved outstandingresults.
Excellence in Customer ServiceBNBM adheres to the "Customer at the Highest" strategy, upholding the marketing philosophy of "Customer First,Win-Win Cooperation" and the service philosophy of "Putting the Customer's Heart at the Core." The Companyconsistently prioritizes understanding and meeting customer needs, continuously innovating products and servicemodels to establish stable, long-lasting, and harmonious win-win customer relationships. This approach enhancescustomer satisfaction and loyalty, achieving mutual development for both customers and the Company.Centred on customers, the Company integrates resources across the upstream and downstream of the industrialchain, building a new integrated industrial platform of "technical solutions + product integration + serviceconsulting." This platform provides comprehensive solutions across the entire industrial chain, lifecycle, and systemintegration, fully advancing the transformation to the "Marketing 2.0" model. This year, the Company accelerated itstransition to a comprehensive consumer building materials manufacturer and service provider, driving fourtransformations: "commercial to residential, urban to rural, base materials to surface materials, and products toservices." This effort aims to create high-quality living environments and serve the needs of building a better life forthe people.The Company has established internal management systems such as theBNBM Dealer Management System and theBNBM Measures for Managing of Sales Service, continuously standardizing customer service management processes.It has built an efficient nationwide customer service network, providing personalized and differentiated productsand services, and offering "one-stop" customer service covering pre-sales, in-sales, and after-sales processes. Toaddress diverse customer product needs, the Company has also established a demand management process forcollecting and filtering requirements. Through third-party research, participation in industry exhibitions, and othermethods, the Company understands and analyses customer and market needs, expectations, and preferences toidentify target markets and customer groups.
?1 QC team won the second prize in the Central Enterprise QC Group Achievement PresentationCompetition;?6 QC achievements participated in the building materials industry quality management group
selection, winning 1 first prize, 1 second prize, 2 third prizes, and 2 excellence awards.?5 QC achievements participated in the Beijing Association for Quality’s QC Group Achievement
Presentation, winning 2 second prizes and 3 third prizes.?Awarded the group second prize in the final of the "National Building Materials Industry Employee
Promotion of High-Quality Development (Quality Management Direction) Theme Competition" by the
China Machinery, Metallurgy, and Building Materials Workers Technical Association.?Awarded the "2024 China Lean Digital Innovation Improvement Competition Innovation Practice
Award."?The Company case "Deepening Benchmarking Management Practices to Achieve High-Quality
Development" was selected for the China Quality Association's group standard application and
enterprise standardization work case collection and published in the 12th issue of the "China Quality"
magazine in 2024.
In 2024, Dragon Brand Company fully advanced the constructionof its e-commerce platform, achieving online and ecologicalmarketing. At the same time, the Company continuouslycollected customer feedback for platform optimization,improving user-friendliness and customer service efficiency. Thisyear, Dragon Brand Company achieved e-commerce order valueof 5.77 billion yuan, with the online sales rate of productsreaching 95%.
Digital Platform Applications Driving Convenient Customer Service
?BNBM e-commerce platform
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Promote technological
innovation
Serve engineering projects with
green concepts
Deliver optimalservices
Develop new productive forcethrough green transition
Taishan Gypsum adheres to the customer service philosophy of "Quality Service Heavier than Mount Tai,"insisting on designing, producing, and selling products based on consumers' real needs. This approach hasearned consumers' high trust and recognition, successfully creating the corporate image that "one out ofevery two high-end gypsum boards sold in China is from Taishan." The Company continuously optimizes itsmarketing strategy and team, striving to establish long-term and stable connections with consumers.
Consumer Needs as the Core of Customer Service
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For complaints related to product quality, the Company's sales personnel will conduct on-site verificationimmediately upon receiving the complaint. If quality issues are confirmed, they will actively communicate with thecustomer to jointly discuss and implement solutions. For service-related complaints, the responsible personnel willpromptly coordinate with relevant business departments to address and optimize service shortcomings. TheCompany also strictly stipulates response times and handling deadlines for each stage of complaints, clearlyrequiring a response within 48 hours of receiving a customer complaint to ensure timely attention and resolution.This year, the Company received 17 accountable complaints and achieved a 100% resolution rate, earningwidespread customer recognition.
Customer Satisfaction SurveyTo understand the current status and potential needs of customers regarding products and services, the Companyhas formulated the BNBM Measures for Customer Satisfaction Survey, conducting annual satisfaction surveys for allcustomers. To gain detailed insights into the needs of different customer groups, we determine key factors formeasuring customer satisfaction based on customer segmentation. Survey questionnaire design and methods aretailored to the characteristics of each customer group, aiming to measure customer satisfaction from multipledimensions to obtain more targeted information. In 2024, the average customer satisfaction score of the Company'sfull-level dealers reached 9.23, maintaining a score above 9 for five consecutive years. Each business segment of theCompany summarizes and analyses the results of the customer satisfaction survey, forming a satisfaction surveyreport. Based on the analysis, improvement suggestions and recommendations are proposed, and correctivemeasures are organized and implemented to continuously enhance the Company's overall customer satisfactionlevel and improve customer loyalty.Customer Privacy ProtectionThe Company effectively protects customer privacy rights and has established theBNBM Measures for ManagingCustomer
Fileto ensure customer privacy information is not violated. The Company has built a series of protectivemechanisms, with the information network security platform at its core, safeguarding customer privacy datathroughout the entire product line transaction process. For customer files that have been established or updated,the Company prohibits any employee from modifying or deleting them without authorization. All personnel withaccess to customer files must strictly comply with confidentiality obligations and are not allowed to disclosecustomer information without authorization.
Customer Complaint ManagementThe Company attaches great importance to customer complaints and has formulated and strictly implemented theBNBM Measures for Handling Customer Complaints, clearly defining the responsibilities of each department toensure efficient handling of customer feedback. Additionally, the Company has established diversified customercommunication channels, including online, email, phone, mail, and face-to-face feedback channels, ensuringsmooth customer feedback pathways.
Promote technological
innovation
Serve engineering projects with
green conceptsDeliver optimal
services
Develop new productive forcethrough green transition
Promote technological innovationBNBM, guided by the "One Body, Two Wings and Global Layout" strategy, focuses on the three core business areas ofgypsum board, waterproofing, and coatings. The Company has built an internally and externally collaborative andopen innovation system, driving sustainable development through technological innovation. It fully leveragestechnology, resources, and expertise to empower product innovation. The Company is committed to intensifyingefforts in tackling key core technologies and national major scientific and technological projects, actively playing therole of the enterprise as the questioner, enhancing the overall efficiency of technological innovation, and promotingthe output and transformation of scientific and technological achievements. In 2024, BNBM won the "InnovationPractice Award" at the 2024 China Lean Digital Innovation Improvement Competition.The Company has formulated a series of policies, including the BNBM Major Science and Technology Plan ProjectManagement Measures, standardizing job responsibilities, project management, and fund usage, and strengtheningthe Company's project-based research and development management model. This year, the Company established aScience and Technology Committee directly led by the chairman, responsible for implementing the Company's"1235" technological innovation strategy, organizing the Company's innovation system, and continuously improvingthe Company's articles of association and management measures to ensure targeted and goal-orientedadvancement of R&D work. This year, the Company identified 43 key R&D directions aligned with the "One Body,Two Wings" strategy and carried out related R&D work in an orderly manner.
In 2024, the Company's annual R&D investment was RMB 1.058 billion, an increase of RMB 103 million over the sameperiod last year, with an R&D investment intensity of 4.10%, and a total of 50 scientific and technological awards forprojects in technology development, craftsmanship workmanship, and engineering technology.
The core scientific research performance of BNBM in 2024:
BNBM “1235” Science and Technology
Innovation Strategy
2 types oftechnologicalinnovationIndustrialisedtechnologyForward-lookingtechnology
3 businessfield tracks
Gypsum board andgypsum board+Waterproof materialsCoatings
5 basic guarantee supports
1 strategic vision of science and technology: create
a world-class model enterprise;
R&Dinvestment
SystemprocessPlatformconstruction
Incentivemechanism
Talentguarantee
075076
Passed the reassessment by the National Enterprise Technology Center; on the basis of the original scope ofCNAS competence accreditation, the laboratory has completed the competence expansion of 87 testingitems in the three major fields of gypsum and gypsum products, waterproof coatings and waterproofing roll-roofing materials, and successfully passed the CNAS reassessment.
The Company undertakes orparticipates in 8 majorscientific research projectsof the country, the industryand the Group, including 4projects/subtopics of the14th Five-Year Plan; 2projects of the second batchof major scientific andtechnological research inthe building materialsindustry; 2 projects underthe Chinese buildingmaterials industry's“Technology OpenCompetition Mechanism”;2 projects of key coretechnology research ofCNBM.
By the end of 2024, thetotal number of patentsapplied for is 9,985, andthe total number ofauthorised patents is7,214, with a total of5,253 active patents; 160international patentsapplied for, of which 6have been authorised.
Undertake key R&D
projects
Accelerate theconstruction of propertyright system
Optimize theconstruction ofinnovation platform
Promote technological
innovation
Serve engineering projects with
green conceptsDeliver optimalservices
Develop new productive forcethrough green transition
Strengthening the R&D Management SystemThe Company has built an internally and externally collaborative, open, and shared innovation system, continuouslydriving the improvement of technological innovation capabilities and promoting the deep integration and optimizedallocation of innovation resources. This year, in collaboration with the China Building Materials Academy, weinitiated a group standard project titled "Technical Regulations for Phase Change Energy Storage Insulation Systemsfor Walls," filling the gap in the application regulations for phase change energy storage insulation systems in theconstruction industry and promoting the commercialization and application of phase change building materials.
Internal InnovationStrategyThe Company closely focuses oncustomer needs, production andoperational requirements, andthe development trends ofapplication technologies. Itconducts targeted innovationand R&D work in productdevelopment, productiontechnology, and applicationtechnology to ensure that R&Dactivities precisely meet marketdemands and drive continuousupgrades in products andtechnologies.
External InnovationCollaborationThe Company activelyestablishes scientific researchpartnerships with universities,research institutes, and otherenterprises in the industry.Through resource sharing andcomplementary advantages, itachieves win-win development.At the same time, we arecommitted to improving theefficiency of industry-university-research transformation,accelerating the marketizationof scientific and technologicalachievements, and injectingcontinuous innovationmomentum into the Company'sdevelopment.Establishing R&D Incentive SystemsThe Company has formulated systems such as theBNBM Measures for Managing the Declaration and Evaluation ofScientific and Technological Achievements and BNBM Patent Reward Measures for the Headquarters (Trial).Bypooling superior resources, the Company continuously stimulates the enthusiasm and creativity of R&D personnel,driving breakthroughs in key core technologies and creating endogenous motivation for technological innovation:
Implementing“Technology OpenCompetitionMechanism” Projects:
Providing rewards tokey project participants.
Promoting PatentApplication Enthusiasm:
Offering financialrewards to patentinventors.
EstablishingTechnologicalInnovation Awards:
Providing financialrewards to individualsand R&D teams whocontribute totechnological research,development,promotion, andapplication.
Distributing ExternalScientific andTechnological Rewards:
Fully distributingproject rewards forprojects that winexternal scientific andtechnological awards,with additionalfinancial incentives.
"1252," which refers to one strategy, two visions, five areas (digital construction areas), and two platforms. One strategy: One Body,Two Wings and Global Layout; Two visions: Business digitalization, digital value creation; Five digital construction areas: Productdevelopment digitalization, factory digitalization, marketing digitalization, supply chain digitalization, decision managementdigitalization; Two platforms: Business middle platform, data middle platform.
077078
Develop new productive forcethrough green transitionThe Company is committed to deepening digital development and has formulated the "1252" digital transformationframework. From multiple dimensions such as digital system construction and intelligent application development,the Company is fully advancing its digital transformation process. These efforts aim to accelerate the formation ofnew quality productive forces, injecting green momentum into the company's sustainable development.This year, the Company focused on integrated business management, digital R&D and design, agile user services,and intelligent production operations. It continuously improved the level of production intelligence, furtheroptimized and expanded the functionality of the group-level management platform, steadily enhanced the e-commerce platform, and advanced the construction of the financial shared services centre platform.
The Company steadily advanced the construction of the shared digital financial platform, delivering 108standard processes across 13 financial modules and forming 17 solution manuals, achieving full coverageacross all levels and segments of the Company.
Integrated Business Management Optimizes Work Processes
The Company continued to promote the application and optimization of the BNBM e-commerce platformsystem, achieving full online sales operations. The system was fully implemented across all levels of DragonBrand Company, with 100% of Dragon Brand Company’s bases now online. The e-commerce order rate ofDragon Brand Company reached 98.68%, with cumulative e-commerce platform orders amounting to 5.768billion yuan, realizing "business sharing" and substantial cost reduction and efficiency improvement infrontline business operations.
Digital Management System Promotes Efficient Operations
The Company effectively advanced intelligent production construction and initiated an industry-firstinnovation project—the Smart Factory DCS Control System. It completed the DCS control system constructionfor production lines in Zhenjiang, Wuhan, and Huainan, significantly improving production control capabilitiesand system stability. This project provided the industry with the best domestically controlled solution, makinga positive contribution to the industry's intelligent and digital transformation. Taishan Gypsum’s Yichangfactory introduced the APC advanced control system, achieving closed-loop control automatic adjustment andautomatic control of key production parameters, further enhancing the production line's intelligence level. Interms of safety production, the Company completed the construction of intelligent safety productionmanagement systems for 77 factories, significantly improving safety management efficiency.
Smart Factory Control System Enhances Digital Production Operations
Promote technological
innovation
Serve engineering projects with
green conceptsDeliver optimalservices
Develop new productive forcethrough green transition
Through digital R&D and design projects, the Company continuously optimized digital management efficiency.This year, the Company completed the construction of a BIM model database, including lightweight factoryarea models at the project level and lightweight equipment models at the workshop level. It also introducedBIM model lightweighting tools, achieving lightweight database management.
Digital R&D and Design Facilitates Lightweight Data Systems
079080
As of the end of the reporting period, the Company:
15 enterprises have obtained the national MIIT two-tier integration management system certification,with BNBM Carpoly achieving the AAA-level certification.
The penetration rate of digital R&D and design tools reached85%.
Completed intelligent transformation of17 digital factories.
72.5% of key equipment is equipped with automatic inspection and alarm functions.
BNBM successfully implemented a DCS intelligent production line control system upgrade, addressingchallenges such as aging systems and reduced stability in production lines at its Zhenjiang, Huainan, andWuhan factories. This project established an industry-leading, domestically developed and independentlycontrollable solution, enhancing system integration and compatibility, thereby laying a solid foundation forthe intelligent and digital transformation of the gypsum board industry.
Gypsum board industrial innovation—pioneering the application of a domesticallydeveloped and independently controllable DCS intelligent production line control system
Through advanced control methods such as integratedconfiguration, real-time fault monitoring, process alarms,and system permission management, the Company achievedcentralized control of the entire plant’s systems. Thisresulted in a 20% improvement in production automationand a significant reduction in equipment failure rates.Leap in production control
capabilities
A "dual-redundant ring network" was constructed to ensuresecure and stable data transmission, boosting overallproduction network capacity by 100% and providing robustsupport for seamless production line operations.
Dual guarantee ofnetwork reliability and
stability
The electrical drive systems underwent a full upgrade,improving transmission efficiency and control performance.This optimization reduced energy consumption by 15%through high-efficiency energy conversion and transmission.
Comprehensive upgrade of
electrical drive systems
Promote technological
innovation
Serve engineering projects with
green conceptsDeliver optimal
services
Develop new productive force
through green transition
Serve engineering projects withgreen conceptsAs a leading enterprise in green building materials, BNBM actively responds to the national call for high-qualitydevelopment, resolutely advancing technological innovation and efficiently integrating low-carbon technologies. Bydriving the green transformation of the industry, the Company effectively fosters new productive force.Collaborating with value chain partners, we jointly provide users with green and low-carbon service solutions,supporting the construction of national large-scale engineering projects and continuously contributing to thecountry's high-quality development.
As an advocate for green materials, BNBM extensively participated in the construction and renovation ofvenues for the 2024 Harbin Asian Winter Games. The Company provided green and environmentally friendlymaterials such as Dragon Brand Company’s flame-retardant boards, along with technical support that metgreen and low-carbon requirements, contributing to the sustainable development of the event. Greenproducts from BNBM were used in facilities such as the Harbin International Convention and ExhibitionSports Center, athlete training centers, international hotels, and the athletes' village, showcasing theCompany's solid industrial strength and contributing to the steady progress of urban development.
Green Building Materials Support the Construction of the Asian Winter Games
?Harbin International Convention and Exhibition Sports Center
In the construction of the new terminal project at Chongqing Jiangbei International Airport, "BNBMWaterproof," a subsidiary of "BNBM," was primarily involved in the waterproofing construction of theunderpass tunnel, integrated utility tunnels, runway, command center roof, and supporting project roofs, aswell as the roofs of some auxiliary buildings, garage slabs, and culvert slabs. The Company provided over70,000 square meters of materials, including elastomer-modified asphalt waterproofing membranes, cross-linked reactive self-adhesive waterproofing membranes, reactive adhesive cross-film wet-laid waterproofingmembranes, and root-resistant SBS-modified asphalt waterproofing membranes.
BNBM Waterproof Supports the Construction of Chongqing Jiangbei Airport Terminal
?Chongqing Jiangbei International Airport
In 2024, "BNBM Waterproof" completed the integrated drainage and storage system solution project for theHuazhong University of Science and Technology’s Junshan Campus, helping it become a sponge campus.The integrated drainage and storage system organizes excess water from polymer protective drainage(storage) profiled sheets into drainage channels, which then flow to inspection wells. The collected water inthe inspection wells is reused in a recycling system. While ensuring drainage functionality, the system meetsthe oxygen supply needs of plant roots and rainwater recycling requirements, promoting water resourcerecycling and accelerating the construction of "sponge cities."
Integrated Drainage and Storage System Promotes Resource Recycling
and Sponge City Solutions
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All-rounded TalentCultivation
BNBM regards its employees as the foundation of its efficientoperations. By continuously building a comprehensive safetyproduction management system and strictly controlling safety risks,the Company ensures the health and safety of both its ownemployees and outsourced workers. BNBM is committed tocreating a comfortable and growth-oriented work environment forits employees. On the basis of strictly safeguarding employee rights,the Company offers competitive compensation, mid-to-long-termincentive mechanisms, a robust talent training system, and diversewelfare benefits. Together with its employees, BNBM growssustainably, continuously attracting and retaining top talent.
Strengthening intrinsic safetySafeguarding employees’ rights and interestsSupporting employee development
Safeguarding employees’
rights and interests
Supporting employee
developmentStrengtheningintrinsic safety
Strengthening intrinsic safety
BNBM consistently upholds the safety production philosophy of "focusing on employee health and safety, creatingexcellent working and community environments, achieving zero accidents, and building an inherently safeenterprise." The Company is dedicated to fostering a safety culture across all levels of the organization where"everyone values safety in every matter." Adhering to the safety production principle that "all risks are controllable,and all accidents are preventable, BNBM relies on four core pillars—guidance, service, supervision, andmanagement—to continuously enhance safety governance at all levels, providing a solid foundation for theCompany's sustained, stable, and high-quality development.In compliance with relevant laws and regulations such as the Production Safety Law of the People's Republic ofChina and the Occupational Disease Prevention and Control Law of the People's Republic of China, BNBM hasestablished a series of internal policies, including theBNBM Policy for Production Safety Management, theBNBMOccupational Health Management System, and theBNBM Production Safety Responsibility Policy. These policiesdefine health and safety management processes and build a comprehensive production safety management system.This year, the Company compiled and released theOccupational Health and Safety Policy Statement
, establishinga safety management system from top-level design to implementation, with a particular focus on preventing andmanaging overseas safety risks to ensure the safety of employees abroad. Additionally, for merged and acquiredenterprises, the Company developed the Safety and Environmental Protection Management Integration Manual forReorganization Projects, standardizing management processes and improving safety and environmental protectionlevels across project enterprises.This year, all operating member enterprises of the Company have adopted ISO 45001 occupational health and safetymanagement systems for their management practices and acquired ISO 45001 occupational health and safetymanagement systems certifications.
Board of Directors
Production SafetyManagement Committee
Safety and EnvironmentalProtection Department
MemberEnterprises
As the highest governing body for safety-related matters,it is responsible for overseeing the Company's ProductionSafety management.The committee serves as the leadership and decision-making body for the Company's safety management. TheChairman of the Board is the overall responsible personfor the committee, organizing and deploying productionsafety management tasks and overseeing the executionand performance of the Company's safety management.Established at the Company headquarters, thisdepartment handles the daily affairs of the ProductionSafety Management Committee and oversees theproduction safety management of member enterprises,ensuring the implementation of the Company'sProduction Safety management.They carry out the safety management tasks delegatedby the headquarters, supervise, identify, and managehealth and safety risks, ensure the effectiveimplementation of safety management measures, andreport regularly to the headquarters.To effectively implement the production safety responsibility system, the Company headquarters signs productionsafety responsibility agreements with segment companies, clarifying the safety responsibilities of the headquartersand production bases. By defining key safety assessment targets, indicators, and performance evaluation methods,the Company ensures the fulfilment of safety and environmental responsibilities at all levels, driving theachievement of safety goals. The Company links management compensation to safety management performance,and in the event of serious safety violations, management compensation will be adjusted accordingly, serving as animportant means to strengthen the intrinsic motivation for health and safety management.
Occupational Health and Safety Policy Statement: https://www.bnbm.com.cn/esgdt.html
Production Safety Management SystemBNBM has established a collaborative, top-down health and safety management structure, clearly defining thesafety management responsibilities of the Board of Directors, the Production Safety Management Committee, andthe Safety and Environmental Protection Department and member enterprises, ensuring the orderlyimplementation of the Company's safety management efforts.
085086
Safeguarding employees’
rights and interests
Supporting employee
developmentStrengtheningintrinsic safety
? 0 fatal accidents due to primary responsibility, with a severe injury rate of less than 0.5‰.
? 0 fire or explosion incidents.
? 100% qualification rate for periodic inspections of special equipment.
? 100% monitoring rate for occupational hazard factors, 100% occupational health
examination rate for positions exposed to harmful factors, and 0 occupational disease cases.
? 100% rectification rate for safety hazards.
? 100% provision rate of personal protective equipment.
? 100% completion rate of pre-job three-level education for employees, 100% certification
rate for special operations personnel, and100% safety training rate for key personnel.
Core Production Safety GoalsThis year, the Company set the following health and safety targets and metrics, all of which were achieved (all healthand safety targets and metrics of the Company include outsourced employees):
Continuously Promoting Safety StandardizationBNBM actively implements theBNBM Safety Production Standardisation Enhancement Action Planand vigorouslypromotes safety standardization among its member enterprises. The Company continues to adopt a classificationmanagement approach for member enterprises, combining self-assessment, segment recommendations, and on-site expert reviews to enhance the overall safety management level of member enterprises. This year, 93 enterprisesacross all levels achieved production safety standardization, including 1 at the first level, 73 at the second level, and19 at the third level. Additionally, 104 enterprises established a dual prevention and control mechanism for hazards.Furthermore, the Company completed the compilation of the industry's first dedicated safety standard for thegypsum board industry, Safety Specifications for Gypsum Board Production, promoting standardized developmentof production safety in the industry.Intelligent Safety SystemIn response to the national strategy of "promoting safety through technology," the Company has launched theconstruction of an intelligent safety system across all production bases. This system integrates four modules: safetyoperations, video AI, facial recognition, and personnel positioning. Through algorithms, it enables automaticidentification of hazardous phenomena and violations, full coverage of key areas with video surveillance, layer-by-layer design of safety management processes, and digitalization of safety records, comprehensively supporting theCompany in achieving production safety. This year, the Company organized 77 member enterprises to implementthe intelligent safety system, systematically driving the intelligent safety transformation of these enterprises.All-staff Participation on Innovative Safety Management ActivitiesThe Company has been actively engaged in initiatives to enhance the safety awareness of its frontline employees. Byestablishing management mechanisms such as "Be a Safety Officer for a Day" and "Snap a Photo of Safety Hazards,"the Company encourages its staff to report and oversee safety management practices. Some subsidiaries haveconducted activities such as "all-staff participation in safety culture building" and "safety knowledge competitions"to proactively learn safety knowledge, enhance safety awareness, and engage in safety practices. Simultaneously,the Company encourages employees to propose improvements to daily safety management processes and rewardsand recognizes those who provide effective suggestions.
To drive improvements in safety, quality, and efficiency, BNBMCarpoly organized a Company-wide improvement proposal activitythis year. The activity attracted participation from 648 employees,collecting a total of 3,253 proposals. Among these, 139 proposalswere recognized as outstanding. The Company rewarded andcommended employees who provided effective suggestions, furthersolidifying its safety culture development.
BNBM Carpoly organizes Company-wide improvement proposal activity
?Outstanding Proposal Awardees
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Safeguarding employees’
rights and interests
Supporting employee
development
Strengtheningintrinsic safety
To foster an atmosphere of all-staff participation in safety management and safety culture building, TaishanGypsum organized 189 sessions of the "Let’s Talk About Production Safety" activity across all levels of theCompany this year. Employees were encouraged to contribute ideas for production safety, share safetyexperiences and lessons, and propose specific safety suggestions and ideas, comprehensively enhancing thesafety awareness of all employees.
Taishan Gypsum launches "Let’s Talk About Production Safety" activity
?"Let’s Talk About Production Safety" activity
Ensuring the Safety of Outsourced EmployeesThe Company consistently adheres to the principle of fairness, applying the same occupational safety managementstandards to outsourced employees as to full-time employees to ensure consistency in safety management. Weuphold the principle of localized management, signing safety management agreements with relevant parties andlabour outsourcing companies to clarify safety responsibilities and requiring them to implement the same safetymanagement systems as internal employees, achieving comprehensive standardization and enhancement of safetymanagement for outsourced employees.The Company rigorously reviews the health and safety qualifications of contractors, thoroughly assesses their healthand safety capabilities, and signs safety agreements to define safety management responsibilities. Additionally, theCompany conducts regular safety reviews of contractors and outsourced employees, ensuring the health and safetyof outsourced employees. At the same time, the Company strengthens safety awareness training for outsourcedemployees, providing safety education and risk briefings before they begin work, enhancing work approval and on-site supervision, and intensifying safety inspections and rectification efforts to ensure outsourced personnel fullyunderstand health and safety risks and master effective response measures, thereby preventing accidents involvingcontractors and outsourced employees.
Production Safety Risk Prevention and ControlBNBM has established a top-down safety risk control mechanism, with the headquarters responsible for identifyingthe highest-level risks and monitoring them. Business segment companies and production bases, based on theiroperational needs, carry out health and safety risk prevention and control work in line with their operations.The Company adheres to regulations such as theBNBM Measures for ManagingtheProduction and Operation Sites,Equipment and Facilities Safety with Major Risk Factors and the BNBM Measures for the Identification andEvaluation of Environmental Factors and Risk Factors, actively promoting the construction of health and safety riskprevention mechanisms. The headquarters supervises subordinate enterprises in conducting risk graded controland hazard identification and rectification.The headquarters regularly conducts health and safety audits, identifies major risks in the production system, andrefines theList of Major Risk Factors of the Production System and Control Measures and the Guidelines for theIdentification and Evaluation of Major Risk Factors and Important Environmental Factors of the Production System,helping subsidiaries achieve more effective safety risk management.This year, the Company organized special inspections and rectifications for phenomena such as "factories withinfactories," "parks within parks," and "office building rentals," conducting hazard inspections and comprehensiverectifications for tenants to effectively prevent safety risks.Production Safety Audits
BNBM has formulated theBNBM Measures for Managing Production Safety and Ecological and EnvironmentalProtection Inspection, defining the audit functions and inspection content for the headquarter and businesssegment companies, and implementing an annual safety inspection plan. This year, the Company focused on riskcontrol in key areas, conducting special inspections of overseas enterprises, construction projects, hazardouschemicals, and tenant management, and organized cross-segment inspections among different business segmentsto promote inter-segment learning and exchange, enhancing the level of safety and environmental inspections.
This year, the Company identified a total of 28,331 potential safety and environmental issues through its inspections,achieving a 100% rectification rate for all identified hazards.
Headquarters:
Conducts regular inspections ofbusiness segment companies,subsidiaries, and project constructionunits through on-site inspections,remote video inspections, and cross-segment inspections, as well as routineunscheduled spot checks.
Business Segment Companies:
Conduct an annual safety managementsystem inspection of all productionbases under their jurisdiction, performsafety measures inspections at leastonce a month, and carry out routineinspections and special inspections.
Audit Functions at Different Levels
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Supporting employee
developmentStrengtheningintrinsic safety
Promotion of Production Safety AwarenessBNBM continues to carry out various production safety awareness promotion activities, such as "Production SafetyMonth," safety emergency drills, and safety education and training, to enhance employees' production safetyawareness and advocate a safety culture. This year, the Company held 3 Production Safety committee meetings and7 Company-wide safety and environmental meetings."Production Safety Month" ActivitiesThe Company further enhanced Company-wide safety awareness and promoted comprehensive improvements insafety management through diverse "Production Safety Month" activities:
Launched a Company-wide action to identify risks and hazards in theworkplace, with leaders of all levels leading risk identification and rectificationefforts.
Hazard Identification
and Rectification
Organized activities such as "Leaders Talking About Safety," "Safety ExchangeMeetings," and "Production Safety Research Meetings."Safety PromotionActivities
Conducted emergency evacuation drills, food poisoning drills, machinery injurydrills, electric shock drills, and confined space operation drills.
Emergency Drills
Created and displayed publicity boards and slogan banners, with employeesactively participating in safety pledges and commitment signing activities, andorganized "Safety Consultation Day" publicity to deepen safety education andtraining and case-based safety education.
Safety Consultationand Publicity
Recognized and rewarded outstanding collectives and individuals inProduction Safety management from the previous year, motivating employeesto actively engage in and participate in safety management activities.“Ankang Cup”Awards
To solidly advance the three-year campaign for fundamental improvements in work safety, in 2024,subsidiaries of BNBM organized a series of diverse and content-rich "Production Safety Month" eventscentered around the theme "Everyone Talks Safety, Everyone Knows Emergency – Clear Pathways for Life."These activities included "All-Employee Safety Pledges," "All-Employee Emergency Drills," "SafetyKnowledge and Skills Competitions," "Safety Warning Education," and "Comprehensive Safety Inspections."Some enterprises innovatively introduced special activities such as "Team Leader Safety Speeches," "SafetyConsultation and Awareness Day," and "Safety Letters to Families."
BNBM enterprises at various levels organizes various "Production Safety Month" activities
?“Production Safety Month” activities of BNBM enterprises
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Safeguarding employees’
rights and interests
Supporting employee
development
Strengtheningintrinsic safety
In 2024, Dragon Brand Company adopted a combination of online and offline training methods to organizeproduction safety-related training activities across all levels of the enterprise. Dragon Brand Companyconducted a total of 25 production safety training sessions, covering 767 participants; it also urgedsubsidiaries to carry out 929 production safety training sessions and emergency drills, covering 22,387participants. Through these enterprise-wide production safety training initiatives, the Company continuouslyimproved employees' safety skills and management personnel's capabilities in identifying, eliminating, andpreventing hazards, as well as preventing accidents, thereby strengthening the safety awareness of allemployees.
Dragon Brand Company conducts a series of production safety training sessions
?Production safety trainings
Safety Emergency DrillsThe Company formulated the BNBM Measures for Managing Response Plans for Major Safety and EnvironmentalProtection Accidents, clarifying the management requirements for the establishment of emergency responseorganizational structures, the responsibilities of the organizations and their members, the development ofemergency response plans, and the conduct of emergency drills. In 2024, subsidiaries at all levels of the Companyconducted a total of 996 emergency drills.
?The Company headquartersconducted a fire emergencyevacuation drill and established avolunteer firefighter team
?Subsidiaries of BNBM Coatings organizes emergency drills on responding to
flood, fire, and electric shocks
?BNBM Yuehuang emergency evacuation and firefighting drills
Safety Education and TrainingThe Company actively conducts safety education and training, disseminating knowledge on identified key safetyissues to enhance employees' safety awareness. This year, the Company carried out the following safety trainingactivities:
Organized six instructors todeliver five specialized trainingsessions, includingCaring forEmployee Health and BuildingInherent Safety, at theCompany's leadership trainingprogram, with a total of over450 participants.
Hired third-party experts andused an online platform toorganize safety productionqualification certification andretraining for 39 key personneland safety managers. 147 keymanagement personnel and507 safety managementpersonnel of the Company’ssubsidiaries acquired thecertification.
Conducted safety educationand training for newemployees covering basicsafety knowledge, fire safety,electrical safety, machinerysafety, and emergencyresponse knowledge, followedby a three-level safetyeducation assessment.
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Supporting employee
developmentStrengtheningintrinsic safety
Safeguarding employees’ rightsand interestsBNBM adheres to the development philosophy of "people-oriented" and strives to create a diverse, equal, andharmonious work environment. The Company continuously improves the construction of the employee rightsprotection system, builds efficient and smooth communication bridges, and lays a solid talent foundation for thesustainable development of the enterprise.The Company strictly complies with laws and regulations such as theLabor Law of the People's Republic of Chinaand the Labor Contract Law of the People's Republic of China. Based on the actual operations and characteristics ofthe enterprise, the Company has established a comprehensive employee management system and norms to ensurethat every employee is treated fairly and justly. This year, the Company released theHuman Rights PolicyStatement
, clearly stating that the Company prohibits forced or compulsory labor, the use of child labor, anddiscrimination, supports employees' freedom of association, and strives to create a fair and favorable workingenvironment for employees.Implementing Rights ProtectionRecruitment and Termination
In accordance with relevant laws and regulations, the Company has established internal systems such as theRecruitment Management System of BNBM Headquarters, theEmployee Handbook of BNBM (“EmployeeHandbook”), and the BNBM Management Measures for New Talents, building fair and transparent processes foremployment, recruitment, and termination. During recruitment, the Company insists on using scientific andsystematic methods and tools for talent selection and equal employment, eliminating discrimination based onnationality, ethnicity, origin, gender, age, physical characteristics, hobbies, and religious beliefs. During thisreporting period, no incidents of employment discrimination occurred.The Company strictly prohibits the recruitment of child labour and forced labour. In accordance with laws andregulations such as theLaw on the Protection of Minors of the People's Republic of China and the Regulations on theProhibition of Child Labor, as well as the Company'sRecruitment Management System, the Company explicitlyprohibits the employment of child labour and forced labour. New employees are required to submit authentic andvalid documents, including identity information, before joining the Company, preventing the hiring of child labour atthe source. The Company signs labour contracts with employees based on the principles of equality andvoluntariness, ensuring that all employees are voluntarily employed. At the same time, the Company strictlymonitors third-party employment practices. Any illegal employment practices, including the use of child labour orforced labour, will be severely punished immediately, maintaining a work environment free of child labour andforced labour. During this reporting period, no incidents of child labour or forced labour occurred.Additionally, the Company actively promotes the economic development of its operating locations duringrecruitment. In recent years, with the continuous advancement of the Company's global layout, the Company hasdeeply explored and understood the cultural background, workplace practices, labour legal frameworks, and localtalent market dynamics of overseas bases, formulating recruitment strategies that align with local conditions tomaximize the absorption of local talent and promote local employment.
Human Rights Policy Statement: https://www.bnbm.com.cn/esgdt.html
Compensation and PerformanceThe Company has established management measures such as theBNBM Headquarters Measures for Managing JobRank and Remuneration, the BNBMHeadquarters Measures for Managing Performance, and the BNBM HeadquartersManagement Measures for Employee Treatment and Business Expenses (Trial), setting up a combined applicationmethod for job levels, compensation systems, and performance evaluation results, providing employees withdetailed compensation and performance evaluation norms. At the same time, to ensure that compensation levelsalign with the Company's strategic positioning and remain ahead of the market average, the Company regularlyparticipates in market compensation surveys, promptly understands the compensation levels of the market andpeer companies and adjusts and optimizes the compensation framework in a timely and reasonable manner.The Company implements a Company-wide annual quantitative evaluation mechanism, signing theAnnualOrganizational Performance Target Responsibility Letterwith managers at all levels (department heads at theheadquarters and mid-level leaders of segment companies) and thePersonal Performance Responsibility Letterwith all employees at the headquarters to clarify annual work goals and directions, while helping employeesunderstand their tasks and enhancing the fairness and justice of performance evaluations.The Company is experimenting an excess profit-sharing incentive policy, building a community of interests betweenthe Company and employees, inviting subsidiaries to pilot medium- and long-term incentive mechanisms and sharetheir implementation experiences, deepening employees' understanding of incentive work, and laying thefoundation for expanding the coverage of the Company's future incentive policies. This year, the Company officiallyreleased the BNBM2024 Restricted Stock Incentive Plan (Draft)
,implementing equity incentives for Companydirectors, senior management, and core personnel, and clarifying the principles of equity incentives. The Companyis also actively promoting the implementation of medium- and long-term incentive plans. This year, the firstdistribution of excess profit-sharing for Dragon Brand Coatings (Beijing) Co., Ltd. has been implemented, striving tomaximize the incentive effect on a broader scale and attract and retain key talent.At the same time, the Company has incorporated ESG-related indicators into the compensation and performanceevaluation system for senior management. To effectively promote energy conservation and emission reduction atproduction bases, the Company has implemented an energy conservation and environmental protection evaluationsystem, clearly designating the general managers of each base as the first responsible persons. This system directlylinks key indicators of energy conservation, carbon reduction, and ecological environmental protection to thebusiness performance evaluation of senior management, ensuring that the responsibility for energy conservationand emission reduction is effectively transmitted and implemented from top to bottom. In the event of seriousenvironmental issues, the performance evaluation results of management will be directly affected, strengtheningthe emphasis and execution of energy conservation and emission reduction work. In the field of production safety,the Company has taken measures to link management compensation with safety management performance. In theevent of serious safety violations, the compensation and performance of relevant management personnel will bedirectly affected, effectively promoting the comprehensive advancement of the production safety responsibilitysystem.
BNBM 2024 Restricted Stock Incentive Plan (Draft): https://www.szse.cn/disclosure/listed/bulletinDetail/index.html?1297ab16-f655-4301-b0fd-3d2dd9d16319
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Safeguarding employees’
rights and interests
Supporting employee
developmentStrengtheningintrinsic safety
Promoting Diversity and EqualityBNBM continues to create a diverse, equal, and healthy workplace environment, continuously improving relevantpolicies and systems to ensure that the Company's operations adhere to the principles of fairness, justice, andtransparency.
Fair and Transparent PromotionsThis year, the Company further optimized the internal job level management system, clearly defining the conditionsfor promotion, demotion, and exit for employees at each job level. To ensure fair and transparent promotions, theCompany adopts a competitive recruitment system, publicly releasing information on vacant positions at all levels,and employees who meet the conditions can apply. After the competition, if there are objections to the hiring results,employees can provide feedback through suggestion boxes, phone calls, or emails during the announcement period.The Company has established five promotion channels: management, functional, technical, marketing, andproduction, and supports the conversion between channels to ensure that all types of talent have clear and suitablepromotion paths.
As at the end of the reporting period,
?Female employees: the number of female employees of the Company reached 19.44%, a steadyincrease from last year?Ethnic minority employees: the number of ethnic minority employees reached 870, an increase of
90 over the same period last year
The Company is committed to safeguarding the rights and welfare of female employees, and has taken a series ofinitiatives to make every female employee feel respected and cherished, and jointly create a warm and harmoniousworking atmosphere. The Company regularly organises group building activities for female employees, holdsseminars, invites female employees to share their opinions and suggestions, and builds an open and inclusivecommunication environment. To care for the physical and mental health of female employees in all aspects, theCompany has purchased additional insurance for female employees, including special disease insurance, maternityinsurance and other additional insurance, added female-specific checkups in the routine physical examination, andset up a mother and baby room in the work area. In addition, to celebrate International Women's Day, the Companycarefully planned recreational activities such as “learning to make Chinese knots with non-genetic inheritors” andflower arranging, and on Mother's Day, the Company organised a Mother's Day punch card, such as “Painting withheart and thanksgiving for mother's love”. On Mother's Day, the Company organised activities such as “Drawingwith Heart, Gratitude for Mother's Love”and “Mother's Day Clock Punching” to enrich the spare time life offemale employees.
During International Women's Day, BNBM organized the "Learning to Make Chinese Knots from IntangibleCultural Heritage Inheritors" activity, specially inviting an intangible cultural heritage inheritor to teach thedouble-line knot weaving method, passing on the beauty of traditional Chinese culture. At the event, femalemanagement representatives extended warm holiday wishes to all female employees, expressing hope thateveryone will actively promote traditional Chinese culture and contribute their strength to the Company'shigh-quality development and the global advancement of Chinese enterprises and culture.
"Learning to Make Chinese Knots from Intangible Cultural Heritage Inheritors" Activity
?"Learning to Make Chinese Knots from Intangible Cultural Heritage Inheritors" Activity
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Ensuring Smooth Communication ChannelsBNBM is committed to building an efficient, smooth, and open communication platform for employees. TheCompany's Employee Handbook clearly defines the core principles of every employee's right to know, participate,express, and supervise. The Company actively promotes a culture of sincere and transparent communication,encouraging candid and friendly exchanges among employees and between different levels of the organization,fostering a harmonious and collaborative work environment. Effective communication facilitates information flowand work progress.To safeguard employee rights, the Company has established an employee union, achieving a 100% membership rateacross all levels. The Company encourages employees to provide rationalized suggestions and has set up anemployee representative assembly mechanism, convening it annually to review the BNBM Collective Contract andreport on the Company's production and operations to employee representatives, collecting their opinions andsuggestions. After the meeting, the union representatives, on behalf of all unionized employees, sign the BNBMCollective Contract with the Company. Business departments promptly address and respond to issues raised byemployees during the meeting, ensuring the implementation of employee feedback.In addition, the Company provides employees with diverse channels for information communication. Employeescan provide feedback and suggestions through various means such as the General Manager's mailbox, the OAelectronic office system, the company's internal information sharing network, the factory newsletter, official socialmedia accounts, and grievance channels. The relevant departments of the company actively take action tostrengthen communication with employees, responding to and addressing the various opinions, suggestions, andissues raised by employees promptly. This year, the Company efficiently responded to and resolved over 30suggestions and opinions put forward by employees.The Company conducts employee satisfaction surveys covering all employees, collecting feedback throughquestionnaires, interviews, and other methods. As of the end of 2024, the Company has conducted satisfactionsurveys and evaluations for seven consecutive years, with results showing a year-on-year upward trend.
This year
Overall employee satisfaction increased by
1.45% compared to 2023.
On the occasion of International Women's Day, to express gratitude for the hard work and dedication of allfemale employees and further inspire their enthusiasm for their jobs and their drive for progress, DreamBrand New Materials of BNBM, awarded female employee representatives the "Pingyi County March 8th RedBanner Group" honor and distributed holiday gifts. This initiative encourages female employees to continueleveraging their strengths and characteristics to contribute to the Company's high-quality development.
"Caring for Women, Honouring the Goddess" – Award Ceremony for Female EmployeeRepresentatives Receiving the "Pingyi County March 8th Red Banner Group" Honor
?Award Ceremony for Female Employee Representatives Receiving the "Pingyi County March 8th Red Banner Group"Honor
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Supporting employee
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Supporting employee development
The Company considers promoting the comprehensive development of employees as its responsibility, with talentappreciation as its core philosophy, creating a diversified training system and career development paths. In 2024,the Company launched a talent assessment project, conducting comprehensive talent evaluations throughinterviews, assessments, and modelling to provide a thorough, objective, and fair evaluation of core talent. Thissuccessfully identified and cultivated five talent teams in operations, production, technology, marketing, andfunctions. This year, the Company established theKey Talent Pool Management Measures (Trial),which includesover 550 high-potential talents, while also strengthening international talent reserves with theInternational TalentPool Management Measures (Trial),which includes over 150 international talents.Strengthening Talent AttractionIn the face of a rapidly changing market environment, the Company regards talent development as one of its corestrategies. This year, the Company deeply implemented the "Talent Fostering Enterprise" strategy, focusing onattracting young talent and sustainable development talent.To strengthen the Company's new talent and align with international standards, the Company launched the "NewTalents" Hundred-Person Plan, aiming to cultivate international talent with new knowledge structures, stronginnovation capabilities, high comprehension, strong responsibility, and outstanding comprehensive abilities, all witha global perspective. In 2024, 58 individuals joined BNBM through the "New Talents" plan, providing strong talentsupport for the Company's strategic development. The Company formulated relevant management measures,tailoring development plans for each new talent, assigning mentors, teaching assistants, and counselors, andproviding comprehensive support in knowledge, professional skills, mental health, and daily life. The Companyadopted a combination of "progressive tracking and follow-up training," "mentorship system," and "rotationpractice" to establish a dynamic tracking mechanism, closely monitoring the growth of each new talent to ensureefficient and continuously optimized training.Additionally, in the context of the rapid development of the "Carbon Peaking and Carbon Neutrality" andsustainability concepts, the Company places great emphasis on attracting talent with matching professional skills.By continuously monitoring "Carbon Peaking and Carbon Neutrality" industry job fairs and forums, the Companystays informed about industry trends, accurately identifies candidates with relevant professional backgrounds, andbuilds a talent resource pool, continuously providing backup strength for advancing the green building materialsindustry.
Strengthening Talent Development
BNBM continues to improve its employee training system, advancing precise training at different levels andestablishing a variety of training courses.The Company’s main training course types include:
Strengthening the professional knowledge and skills required foremployees' positions, thereby enhancing their job competence. This year,the Company conducted themed training such as the "New ProductiveForce" seminar and the "Collaborative Integration" marketingenhancement program for managers in production and marketing systemsacross different segment companies, integrating new science and theorieswith corporate practices to deepen management's understanding ofmarketing strategies and enhance team collaboration.SpecializedTraining
Enhancing employees' general knowledge and skills, improving theirprofessional qualities and comprehensive abilities. This year, the Companyconducted general training on artificial intelligence, mental health, andoutsourcing compliance management, with a total participation of 2,000people.GeneralTraining
Offering medium- and long-term non-degree and non-certificateeducation for specific groups. This year, to help new talents quickly adaptto the Company environment, familiarize themselves with work processes,and integrate into the corporate culture, the Company meticulouslyorganized onboarding training for "New Talents." The training combinedtheory and practice, covering comprehensive content in diverse formats,enabling new talents to transition from school to workplace in a relaxedand enjoyable atmosphere.Professional
Training
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Supporting employee
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The Company also established an online learning platform, introducing a wide range of course resources coveringbasic, professional, and leadership skills, as well as Company-specific internal training courses, promoting lifelonglearning and practical ability enhancement among employees.
?BNBM online learning platform
This year, the Company held two sessions of the Middle and Young Cadre Training Program, totalling 52 days,with 71 participants. The program was structured around six teaching modules: strengthening ideals andbeliefs, enhancing political capabilities, scientific judgment and decision-making, maintaining innovativevitality, cultivating leadership character, and refining job performance skills. It included cutting-edge coursessuch asInnovation Trends – The Connotation and Development Path of New Productive Force, CorporateStrategic Management and Business Model Innovation in the Digital Age, The AI Revolution Triggered byChatGPT and Its Impact on Various Industries, Deep Integration of the Internet, Big Data, ArtificialIntelligence, and the Real Economy, and Digital Technologies and Corporate Innovation that TransformEnterprises and Competitive Landscapes. By adopting diverse teaching methods and building a multi-dimensional interactive communication system, the program helped middle and young cadre traineesmaster business management knowledge and tools, becoming versatile talents with internationalcompetitiveness, thereby assisting the Company in comprehensively enhancing its core competitiveness andopening up new prospects for high-quality development.
Conducting Middle and Young Cadre Training Program to Deepen Talent Reserves
?3rd and 4th sessions of the middle and young cadre training program
This year, the Company held the "CollaborativeIntegration" Marketing Enhancement Program, coveringcore personnel from six business segment companies.The program focused on industrial collaborativedevelopment, exploring new cooperation models,business propositions, and marketing innovations.Participants gained deep insights in their professionalfields while making substantial progress in teamcollaboration and industrial synergy. They witnessedthe deep integration of three major businesses—gypsum board, waterproof materials, and coatings—strengthening internal connections and acceleratingthe construction of a collaborative and efficientmarketing ecosystem.
Hosting the "Collaborative Integration" Marketing Enhancement Program to
Promote Industrial Integration and Development
?"Collaborative Integration" Marketing Enhancement
Program
BNBM successfully held a leadership training programin collaboration with Sinoma Science & Technology.The training invited an external expert team to teachover 40 elite participants, including leadership teamsand business segment leaders from both companies.The core focus of the training was on businessleadership models and business transformationmanagement strategies. It delved into multipleaspects, from organizational construction and talentdevelopment to cultural atmosphere building,thoroughly analysing how to efficiently translatestrategic decoding into strategic execution.Participants learned how to overcome resistance tochange within the organization, drive innovation, andexplored ways to ensure the sustainability andeffectiveness of transformations to achieve expectedgoals.
Leadership Training Program Strengthens Leadership Team Capability Building
?BNBM & Sinoma Science & Technology leadershiptraining class
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Safeguarding employees’
rights and interests
Supporting employee
developmentStrengtheningintrinsic safety
Focusing on Employee CareBNBM is always committed to moving forward hand in hand with its employees, placing great emphasis on theirphysical and mental well-being. By planning a variety of employee activities, the Company continuously enhancesemployees' sense of happiness and organizational belonging. The Company actively promotes the "WarmthProject," ensuring timely care and support for retired employees, key business personnel, overseas assignees, andtheir families, fostering a warm and harmonious corporate atmosphere. In 2024, companies at all levels organizedemployee participation in warmth-giving activities, with a total of 22,868 participants, encouraging Company-wideparticipation in corporate culture building.In terms of employee benefits, the Company is dedicated to providing diversified and high-quality safeguards. TheCompany has established an enterprise annuity plan to secure and enhance employees‘ welfare levels afterretirement, motivating their labour enthusiasm, and establishing a long-term talent incentive mechanism. TheCompany also organizes annual employee welfare health check-ups to help employees comprehensivelyunderstand their physical condition and prevent and treat diseases in a timely manner. Additionally, the Companyprovides non-compensation benefits such as free shuttle buses, dormitory as living place, insurance such assupplementary medical insurance,free meals and extreme weather flexible working mode, which cover allemployees who are needed, ensuring employees' sense of belonging.
In August 2024, BNBM successfully held the “Unity" music festival to celebrate the Company's 45thanniversary. During the concert, employees and their families actively participated, using songs to tell thetouching story of "Why 'BNBM'." Nearly 30 performances showcased the voice of China, highlighting thecharm of the Company's culture. The event blended traditional culture with modern industrial spirit,attracting leadership, over 300 employees and their families, and partners to attend in person, while morethan 20,000 viewers participated online. This activity demonstrated BNBM's care and emphasis on thespiritual well-being of its employees, strengthened their sense of belonging, and fostered a harmonious andcohesive corporate culture.
BNBM “Unity” music festival
?BNBM “Unity” music festival
In 2024, BNBM hosted a diverse series of “enterprise super league" events aimed at boosting employeevitality and enhancing their quality of life through sports activities. The headquarters organized eventsincluding table tennis, tug-of-war, and basketball, attracting the active participation of over 600 employees.BNBM Carpoly set up traditional events (three-person basketball, table tennis, and badminton), knowledgecompetitions, colour-mixing contests, a cooking competition, and team-based activities such ascollaborative challenges, five disciplines, precise warehousing, and nine-grid management, drawing theparticipation of more than 1,300 employees. This series of "Enterprise Super League" events not onlyimproved employees' physical fitness but also strengthened friendships and cohesion among them,showcasing BNBM's commitment to the comprehensive development of its employees. It also advancedcorporate culture building and deepened team cohesion.
BNBM "Enterprise Super League" Series of Events
?BNBM headquarter Enterprise Super League
?BNBM Carpoly Enterprise Super League
This year, Dream Brand New Material organized the “CelebrateChildren's Day ? Parent-Child Dream Park Tour” activity. The activitysite was carefully set up with fun games, including lasso, parent-childping-pong relay race, chair-grabbing battle, and hand-painted fan.These games allow children to play happily and enjoy themselves,enabling employees and their children to embark on a journey ofchildhood experiences. This initiative helps rediscover the simple joysof early years and continuously enhances employees' sense ofachievement, belonging, and identification.
Dream New Materials "Children's Day" Parent-Child Activity
?Dream New Materials "Children'sDay" Parent-Child Activity
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Responsible IndustryCollaborationBNBM continuously enhances its supply chain management system.We aim to build stable, efficient, and mutually beneficialsustainable development partnerships. To achieve this, weincorporate ESG concepts into the entire supplier lifecyclemanagement process, creating an eco-friendly, high-quality, andresponsible supply chain. We also closely monitor the impact of ouroperations on surrounding areas. We strive to deepen ourunderstanding of the local community through various means.Furthermore, we actively participate in charitable and community -oriented activities in fields like education, culture, and sports,giving back to society and demonstrating our corporate socialresponsibility.
Promote win-win cooperationCo-creating social value
Co-creatingsocial valuePromote win-wincooperation
Promote win-win cooperationBNBM adheres to the principles of "Integrity-Driven Partnerships, Mutual benefit, and Common Development." Westrive to strengthen our reputation as a responsible enterprise and build trusting, mutually beneficial, and long-termstable relationships with business partners. The Company continuously enhances partners' sustainabledevelopment capabilities and awareness, promoting collaborative development and win-win cooperation.
Enhance sustainable supply chains
The Company is committed to optimizing supply chain efficacy and collaborating with suppliers to deliver premiumproducts and services. This year, we developed and issuedSupplier Code of Conduct and Sustainable Supply ChainManagement Policythat apply to all suppliers, integrating ESG principles into supplier management processes. Allsuppliers are required to maintain strict compliance with commitments encompassing employee rights protection,environmental stewardship, and risk mitigation protocols. A dynamic supplier evaluation mechanism has beenimplemented to achieve win-win cooperation and advance sustainable development objectives.Supplier lifecycle management
Admission PhaseAccording toSupplier Management Measures, we conduct comprehensive ESG-aligned assessments ofsuppliers' compliance credentials, environmental management systems, occupational health/safetyprotocols, and product quality through document reviews, on-site audits, virtual assessments, andproduct trial evaluations. Verify alignment with corporateSupplier Code of Conduct and SustainableSupply Chain Management Policy.
Audit suppliers' quality management systems, requiring zero non-compliance records in national,industrial, corporate group, or local government quality inspections over the past three years.Prioritize suppliers with certifications such as ISO 45001, ISO 9001, and ISO 14001. Qualified suppliersdemonstrating superior performance receive preferential selection status.Implement rigorous procurement process monitoring and auditing to eliminate violations (e.g., bribery,fraudulent practices, unfair competition). For those suppliers breaching the code of conduct, a "one-strike rule" applies, disqualifying them from admission and cooperation.
Engagement PhaseExecuteIntegrity Pledge AgreementsandConfidentiality and Anti-Corruption Cooperation Agreementswith suppliers. Deliver integrity compliance training to define mutual ethical standards andoperational protocols, ensuring confidential business information protection and fostering ethicalcollaboration.Conduct periodic audits of suppliers’ adherence to anti-corruption regulations. These evaluationsreinforce compliance across the supply chain, uphold ethical business practices, and safeguardoperational transparency.
Audit and Monitoring PhaseConduct at least one performance evaluations for all suppliers each year, incorporating ESG-relatedmetrics and contractual compliance assessments. Update the qualified supplier roster based onevaluation outcomes to enable dynamic catalog management. Identify suppliers with elevatedsustainability risks (e.g., excessive energy consumption, occupational health/safety concerns, orintegrity violations). Require such suppliers to develop corrective action plans and monitorsubsequent remediation effectiveness.
Exit PhaseTerminate partnerships with suppliers failing to meet minimum standards post-remediation efforts.If a supplier engages in illegal or seriously non-compliant behavior, we will impose temporary orpermanent procurement bans across all corporate entities based on the severity of misconduct andresultant organizational impact according to theSupplier Blacklist Management ImplementationGuidelines.For suppliers committing egregious violations, revoke partnership status and add to thesupplier blacklist.
In 2024, we further enhanced the use of our company's online procurement platform, continuously improving thecentralization, standardization, and transparency of our procurement operations.
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Co-creatingsocial value
Promote win-wincooperation
Supplier Collaborative DevelopmentBNBM rigorously implements its green procurement strategy, prioritizing low-carbon principles, clean energyadoption, and minimal environmental impact in purchasing decisions. We systematically select environmentallyresponsible suppliers under equivalent competitive conditions while advocating for sustainable packaging solutions,waste reduction initiatives and protect the environment across our supply chain.Through legally binding safety and environmental agreements with suppliers, we enforce compliance with nationalregulations and internal ESG governance standards. These contracts explicitly mandate supplier adherence tooperational requirements encompassing energy conservation, water preservation, environmental protection,circular practices, low-carbon operations, and renewable resource utilization. Suppliers are contractually obligatedto implement resource optimization, emission reduction, and ecological impact mitigation measures that safeguardboth environmental integrity and public health.This year, we actively carried out supplier strategic cooperation and ESG communication activities. Through supplierconferences, technical exchanges, and seminars, we shared information with suppliers on industrial policies, marketconditions, production and inventory situations, and quality feedback. We also engaged with them on equipmentupgrades, technological innovation, and process improvements, conveying our ESG philosophy and encouraging theuse of eco-friendly materials. Moreover, we guided suppliers in conducting routine safety inspections, safety trainingsessions, and emergency drills. We strengthened their integrity - building education and facilitated knowledgeexchanges on laws, regulations, and social environments. These efforts aimed to enhance suppliers' capabilities andoverall management standards, creating continuous value for them.In 2024, we conducted joint training and capability enhancement programs with 1,709 suppliers, advancing mutualdevelopment through shared operational excellence.
In July 2024, Taishan Gypsum's "Chain-DrivenWin-Win, Re-create Glory" Supplier StrategicCooperation and Development Conference wasgrandly held in Tai'an. 230 suppliers and 416partners from all over the country attended theevent. The conference proposed that in thefuture, Taishan Gypsum will work hand in handwith its supplier partners to build a moretransparent, fair, and mutually beneficialcooperative ecosystem. It will continue toimprove the supply chain ecosystemconstruction and development, jointly movetowards a low-carbon future, and contribute tothe high-quality development of the industry.
Taishan Gypsum "Chain-Driven Win-Win, Re-create Glory" Supplier
Strategic Cooperation and Development Conference
?Chain-Driven Win-Win, Re-create Glory" Supplier Strategic
Cooperation and Development Conference
In 2024, BNBM Dragon Brand Company'sprocurement and production team engaged inESG-themed exchanges with its suppliers. Theydiscussed ESG metrics alignment and carbonfootprint tracking, and shared experiences andobservations on green, low-carbon processesand digital management systems. Thiscollaboration aimed to boost renewable rawmaterials usage and clean production standards,enhancing environmental management acrossthe product lifecycle.
BNBM Dragon Brand Company’s ESG-Themed Exchange with Suppliers
?Conducted ESG exchanges with suppliers
In March 2024, BNBM Carpoly invited aprofessional third party as a supplier for a specialexchange on “SVOC Regulation Progress &Solutions”. This meeting aimed to preparetechnically for the upcoming SVOC regulations. Atotal of 21 engineers from the company’s FullDecoration Technology Department andEngineering Paint Technology Departmentattended the meeting in two sessions. They hadin-depth discussions on SVOC regulatoryrequirements, differences between domestic andforeign regulations, and relevant solutions.Through technical cooperation with suppliers,the company can jointly respond to regulatorychanges and promote sustainable development.
Carpoly Collaborates with a Professional Third Party on SVOC Regulation Exchange
?“SVOC Regulation Progress & Solutions” special exchange
111112
Co-creatingsocial valuePromote win-wincooperation
Promote overseas collaboration and developmentBNBM continuously improves its international business collaboration model, oriented towards internationalmarkets, leveraging both international and domestic market connectivity to optimize resource allocation. TheCompany prioritizes gypsum board products and technologies, employing capital, technological, and managerialexports to drive overseas investment. It focuses on building overseas marketing networks, operational mechanisms,and organizational structures to boost market expansion, increase market share, and strengthen brand building.BNBM pursues innovation through independent research and development, as well as introduction, absorption, andre-innovation, to expand its core technological capabilities in gypsum board. It also strategically plans its globallayout, cultivates international talent, and accumulates overseas management experience to enhance itsinternational standing and make international business a new growth driver.
BNBM International Project Construction Progress
Completed andcommissioned
projects
?15 million sqm per year gypsum board project in Tanzania.
?40 million sqm per year gypsum board line, plus 3000-ton annual light steelkeel and 4 million sqm decorative gypsum board projects in Uzbekistan.
Ongoingprojects
?40 million sqm per year gypsum board project in Bosnia and Herzegovina.
?40 million sqm per year gypsum board, 3000-ton annual light steel keel,and 4 million sqm decorative gypsum board projects in Thailand.
To boost cultural exchanges and business, we've strengthened overseas brand building and innovated promotionstrategies. Central Asia BNBM has established a social media presence, partnered with local universities and media,and organized events to showcase Chinese culture and foster employee integration. We've also enhanced ourstorytelling efforts to highlight BNBM's overseas endeavors, corporate culture, and create a positive internationalreputation, advancing our brand's social impact.While expanding overseas, BNBM actively fulfills its corporate responsibility by collaborating with local governments,communities, and organizations. We participate in cultural, educational, and health initiatives and promote localeconomic growth and social progress through mutually beneficial partnerships, ensuring the company and societydevelop together.
?In 2024, BNBM Tanzania contributed
building materials to key institutions inthe Coastal Province, including theImmigration Department, Fire RescueBureau, Zegereni Junior SecondarySchool, and Tanzania Police Academy.
?BNBM Tanzania contributed building materials to localsecondary schools and the Tanzania Police Academy?In 2024, Central Asia BNBM donatedmuch-needed items like formula milk,diapers, and batteries to a localorphanage to ensure stable winter powersupply.
?Central Asia BNBM donated daily necessities to a localorphanage
?During the 8.28 Corporate Culture Festival,the Company invited 4 Tanzanianemployees to participate in domesticactivities and visit company bases forlearning. This engagement initiativeenhanced cross-border collaborationwhile boosting overseas staff'sorganizational pride, workplacesatisfaction, and sense of belonging.?Tanzanian-Chinese employee exchange activities
113114
Co-creatingsocial value
Promote win-win
cooperation
BNBM's Key Achievements in Rural Revitalization Support
Co-creating social valueBNBM always keeps corporate social responsibility in mind and integrates this concept into its development anddaily operations. It leverages its business and resource advantages to actively engage in philanthropic initiatives,carry out diverse volunteer activities, and share its development fruits with the society. This is to inject the "BNBMPower" into promoting social progress, enhancing people's wellbeing, and realizing people's aspirations for a betterlife.
2024the Company donated and invested a total of
5.57 RMB million in rural revitalization and philanthropy.
Advancing Rural RevitalizationBNBM actively implements the country's key decisions and deployments on rural revitalization. It integrates socialresponsibility into its corporate mission and drives all-round rural revitalization. Focused on the mission of "greentechnology and high-quality living", BNBM vigorously promotes activities like "bringing green building materials tothe countryside" and "matching good materials with good houses and new rural areas". It delivers green buildingmaterials and quality services to villagers, enhancing their living standards. BNBM firmly fulfils its responsibility as astate-owned enterprise, taking practical actions to help solve people's livelihood issues.
BNBM has steadfastly supported Xinjiang and Tibet through 4 production bases, over 100 million yuanin investment, and hiring 200 local employees, easing employment issues and boosting livelihoods andunity.
BNBM has bolstered revolutionary base areas by setting up factories in places like Guang'an (Sichuan),Jinggangshan (Jiangxi), and Fuping County (Shanxi), such as BNBM (Shanxi) Co. and JinggangshanBNBM Co., promoting their revitalization and carrying on revolutionary spirit.
BNBM's green building materials campaign has promoted eco-friendly products like gypsum boardsand lightweight steel frames for rural construction, reaching over 4,000 county-level and township-levelchannels and advancing new-type urbanization.
BNBM has actively aided disaster-affected regions through donations, volunteer services, andparticipating in reconstruction. During the Zhuozhou flood, Dragon Brand Co. sold building materials atcost price, helping severely affected families rebuild their houses within a week, supplying over 45,000sqm of gypsum boards and over 5,000 buckets of paint.
520.21 RMB 10,000
TargetedAssistance
21.05 RMB 10,000
Educational Support
15.83RMB 10,000
SocialWelfare
115116
Co-creatingsocial value
Promote win-win
cooperation
BNBM remains unwavering in its responsibilities as a central state-owned enterprise, actively aligning withnational rural revitalization strategies. Leveraging consumption-based poverty alleviation as a keymechanism, the Company supports rural development. Since 2021, BNBM has substantially procuredagricultural products from designated regions through “Hebao Dan”, the e-commerce platform of ChinaNational Building Materials Group. As of the reporting period, cumulative spending on poverty alleviationinitiatives has exceeded RMB 10 million, establishing stable income streams for local farmers and effectivelystimulating rural economic growth.
BNBM steadfastly upholds its responsibilities as a state-owned enterpriseby advancing consumption-based poverty alleviation initiatives.
“Unity” music festival Diaowo Town Station
?北新建材“人和”音乐会
BNBM Waterproof is committed to aligning its corporate growth with the consolidation of poverty alleviationachievements and the advancement of rural revitalization. Through targeted actions, the companytranslates the vision of comprehensive rural revitalization into tangible progress. By implementingeducation support programs in local township schools, BNBM Waterproof strengthens rural educationinfrastructure, improves student development and learning environments, and inspires academicexcellence to cultivate future contributors to society.
BNBM Education Support · Building Dreams Toward Innovation
?“BNBM Education Support · Building Dreams Toward Innovation” Donation Initiative at Xiejia Primary andMiddle Schools
As BNBM’s core gypsum board industry platform, Dream brand New Materials has deepened its presence incounty and township markets for years. The company conducts rigorous market research and analysis tounderstand local demand, consumption patterns, and competitive dynamics. Guided by a cost-performanceprinciple, Dream brand prioritizes addressing consumer pain points through product innovation whileexpanding market coverage via optimized distribution networks. This positions the company to evolve intoboth a green building materials system solutions provider and a specialized rural development servicepartner. Dream brand is committed to delivering state-owned enterprise quality at affordable prices,enabling rural communities to access eco-friendly construction materials and premium services. Byintegrating green building solutions with its responsibilities as a central state-owned enterprise, thecompany pioneers new pathways for rural revitalization and contributes to the development of sustainableand beautiful countryside landscapes.
Dream brand New Materials strengthens its foothold in county and township markets,
advancing rural revitalization through localized operations.
?Dream brand New Materials strengthens its foothold in county and township markets
BNBM continues to prioritize rural cultural revitalization, exemplified by its "Culture to Villages" campaign.The “Unity” music festival in Diaowo Town attracted nearly 700 residents, enriching local cultural lifethrough a unique "industry-culture-music innovation" format. This event established a dynamic platform forproduct experiences, cultural exchange, and community engagement, allowing participants to connect withthe values and warmth of Chinese industrial brands. By integrating economic and cultural development,BNBM has injected fresh vitality into rural revitalization, fostering sustainable progress in both cultural andeconomic spheres.
?“Unity” music festival in Diaowo Town Station
117118
Co-creatingsocial valuePromote win-wincooperation
Engaging in philanthropic activitiesBNBM remains true to its founding mission by fulfilling its public welfare responsibilities and exemplifying corporatecitizenship. The company implements diverse philanthropic initiatives and charitable programs to advance socialharmony and progress.
BNBM remains steadfast in its mission as a state-owned enterprise, championing the cultural legacy ofBeijing’s Central Axis and promoting confidence in Chinese brands. In 2024, the Company launched the"Imprints of the Beijing Central Axis" Cultural Series, utilizing eco-friendly, high-quality gypsum boards,coatings, and home products to curate exhibitions, interactive experiences, and cultural engagements.These initiatives showcase the appeal of domestic products and trendy goods through innovative, interactive,and empathetic approaches. By narrating the story of China’s cultural heritage, the Beijing Central Axis, andbrand innovation, BNBM strengthens societal commitment to preserving this UNESCO-nominated historicalcorridor. These efforts reinvigorate traditional culture with contemporary relevance, fostering collectiveresponsibility for safeguarding cultural assets while aligning national pride with modern sustainability goals.
"Imprints of the Beijing Central Axis" Cultural Series Activities
?"Imprints of the Beijing Central Axis" cultural activities
On October 12, 2024, the China Real EstateAssociation's public welfare forest buildingactivity was held at the Baijitan Ma'anshan Basein Yinchuan, Ningxia. BNBM actively supportedthe construction of the "China Real EstateAssociation Public Welfare Forest" and donatedpublic welfare funds. This practical actionfulfilled its "Green Technology, Quality Life"corporate mission and supported the nation'secological civilization building.
BNBM Supports Ningxia Public Welfare Forest Building
?BNBM Participates in Public Welfare Forest Building Activity
“Benevolent Building” Colorful Classroom Public Welfare Teaching Support Action
?北新建材“人和”音乐会
BNBM Carpoly has actively supported national poverty reduction policies. Since 2022, it has sponsored the"Cunxiao Cup" basketball league and cheerleading competition in Daliangshan, Sichuan. In 2024, BNBMCarpoly invested 200,000 yuan to sponsor 23 teams from eight public welfare primary schools in the area.The event engaged 230 students, promoting local sports education and broadening the horizons ofmountainous-area children.
BNBM Carpoly Supports Rural Sports Education Development
?BNBM Carpoly: The 7th "Cunxiao Cup" Basketball League and Cheerleading Competition
In August 2024, a six-member BNBM volunteer team traveled to Yongshan County Ethnic Primary School inZhaotong City, Yunnan Province, to conduct the week-long "Benevolent Building Rainbow Classroom PublicWelfare Teaching Support" The volunteers leveraged their professional expertise to design tailoredcurriculum modules including patriotic education, science experiments, arts, safety education, andmathematical thinking aligning content with students' interests. Through diversified teaching methods, theystimulated children's curiosity for learning while fostering independent thinking and exploratory spirit. Thisinitiative aimed to deliver care to mountainous area children and ignite the spark of dreams in young minds.
?“Benevolent Building” Colorful Classroom Public Welfare Teaching Support Action
119120
ESG key performance indicators
The coverage of the following KPIs is the same as that of the consolidated statements. In case of any discrepancies between the totalnumber and the sum of the data and ratios disclosed herein, it is due to rounding.
During the reporting year, the Company completed the acquisition of BNBM Carpoly and integrated it into the consolidated datareporting scope. As a result, certain metrics exhibit notable variations compared to prior periods, primarily due to the inclusion of thenewly acquired entity's operational data.
This year, the Company adjusted and refined the statistical scope of indirect energy, reclassifying the categories for purchasedelectricity, purchased heat, and purchased steam, among other indirect energy sources. As a result, the total direct energyconsumption, total indirect energy consumption, direct greenhouse gas emissions (Scope 1), and indirect greenhouse gas emissions(Scope 2) for 2023 have been restated.
Direct energy consumption covers non-renewable energy sources such as coal, natural gas, liquefied petroleum gas, petrol anddiesel, as well as self-generated electricity using renewable energy sources. The result is calculated in accordance with the GeneralRules for Calculation of the Comprehensive Energy Consumption (GB/T 2589-2020).
ESG key performance indicators
21 22
General information
IndicatorUnit20242023
RevenueRMB 10,0002,582,112.442,242,589.56
Output value (current price)RMB 10,0002,491,542.292,116,621.25
Environmental KIPs
IndicatorUnit20242023
Energy
Total energy consumption10,000 tce142.56137.66
Comprehensive energy consumption
per RMB 10,000 of revenue
tce/RMB 10,0000.550.61
Comprehensive energy consumption
per RMB 10,000 of output value
tce/RMB 10,0000.570.65
Total direct energy consumption
10,000 tce121.74121.43Clean energy consumption
(Biomass fuel, solar and windenergy and heat recovery steam)
10,000 tce20.52
IndicatorUnit20242023Biomass fuel consumption10,000 tonnes29.7836.73Total indirect energy consumption
10,000 tce20.8216.23Purchased green electricity
tce813.5610.34GHG emissionsTotal GHG emissions
10,000 tCO
e349.79346.61Direct GHG emissions (Scope 1)10,000 tCO
e256.06286.08Indirect GHG emissions (Scope 2)10,000 tCO
e93.7360.53GHG Emissions per RMB 10,000 ofrevenue
10,000 tCO
e/RMB10,000
0.00014
0.00015
GHG Emissions per RMB 10,000thousand of output value
10,000 tCO
e/RMB10,000
0.00014
0.00016
Indirect energy consumption covers purchased electricity and purchased heat. The result is calculated in accordance with theGeneral Rules for Calculation of the Comprehensive Energy Consumption (GB/T 2589-2020).
Purchased green electricity refers to the electricity purchased through contracts with renewable energy power producers.
The calculation of GHG-related emissions has referred to the Notice on the Key Work Related to the Management of EnterpriseGreenhouse Gas Emission Reporting in 2022, the General Guideline of the Greenhouse Gas Emissions Accounting and Reporting forIndustrial Enterprises (GB/T 32150-2015), as well as other national and international standards.
121122
ESG key performance indicators
Recycled water consumption = the amount of water per cycle x the number of cycles.
IndicatorUnit20242023Comprehensive utilisation rate ofgeneral waste
%100100Industrial waste consumption10,000 tonnes1,523.781,480.87OthersEnvironmental protectionexpenditure
RMB 10,00030,759.0322,558.62Cumulated number of products withChina green product certificates
Case16148R&D cost of green products
RMB 10,00085,409.2690,213.72Revenue from green products
RMB 10,0001,723,608.951,713,184.59
Environmental protection expenditure includes the expenditures for environmental protection and ecological restoration.30, 31 The green products including gypsum board, waterproof material and waterproof coating.
IndicatorUnit20242023WaterTotal water consumption10,000 tonnes1,182.261,180.66Water consumption per RMB million ofrevenue
10,000 tonnes/RMBmillion
0.0460.053Water consumption per RMB million ofoutput value
10,000 tonnes/RMBmillion
0.0470.056Fresh water consumption10,000 tonnes1,146.321,167.78Recycled water consumption
10,000 tonnes365.72293.54WastewaterTotal industrial wastewater discharge10,000 tonnes299.31324.45Chemical oxygen demand (COD)Tonnes109.53108.81Ammonia nitrogenTonnes5.294.56Waste gasTotal emissions of nitrogen oxidesTonnes1,336.121360.46Total emissions of sulphur dioxidesTonnes649.46786.89Total emissions of industrialparticulate matters
Tonnes178.20222.67Total emissions of volatile organiccompounds (VOCs)
Tonnes46.151.70WasteGeneral waste generated10,000 tonnes21.9313.95General waste generated per RMB10,000 of revenue
tonnes/RMB 10,0000.0850.062Hazardous waste generatedtonnes3,023.29360Hazardous waste generated per RMB10,000 of revenue
tonnes/RMB 10,0000.001170.000161
Social KPIs
Employee-related indicators
Primary indicatorSecondary indicatorUnit20242023
EmployeesTotal employees as of the end of the Reporting PeriodPerson15,79012,786By gender
MalePerson12,72110,448FemalePerson3,0692,338By ethnicity
Han employeesPerson14,92012,006Minority employeesPerson870780
123124
ESG key performance indicators
Employee turnover rate = Employee turnover rate for FY2023 = number of employees turned over / number of employees on boardat the end of the period
Primary indicatorSecondary indicatorUnit20242023By position levelGeneral employees%12.06 12.37
By age
Under 30 years old%20.86 27.9430-50 years old%9.92 8.58Over 50 years old%10.56 11.23Development and trainingTotal participants in trainingPerson-times153,029153,602Coverage%82.73 93.16Average training hours of employeesHours/person80.31 81.95By gender
MaleHours/person80.31 82.11FemaleHours/person80.31 81.23By ethnicity
Han employeesHours/person80.25 81.93Minority employeesHours/person81.30 82.15
By position level
Senior employeesHours/person142.58 145Middle-level employeesHours/person153.84 182.37General employeesHours/person76.24 77.29By age
Under 30 years oldHours/person85.42 84.9630-50 years oldHours/person79.45 82.12Over 50 years oldHours/person77.76 74.53
Primary indicatorSecondary indicatorUnit20242023
By position level
Senior employeesPerson164147Female employees atsenior level
Person88Middle-level employeesPerson564472Female employees atmiddle level
Person6986General employeesPerson15,06212,167By age
Under 30 years oldPerson2,6562,15130-50 years oldPerson11,7719,531Over 50 years oldPerson1,3631,104Disabled employeesPerson8756New employees during the Reporting PeriodPerson1,6711,026Employee turnover rateTotal turnover rate
%11.8212.07Turnover rate (voluntary resignation)%9.7410.07By gender
Male%11.86 11.92Female%11.63 12.75By ethnicity
Han employees%11.82 12.04Minority employees%11.72 12.56By position level
Senior employees%0.61 0.00Middle-level employees%8.69 8.07
125126
ESG key performance indicators
Employee satisfaction surveys cover all levels of employees.
Primary indicatorSecondary indicatorUnit20242023
Proportion of employees with collective contract%100100Average number of days of paid annual leave peremployee
Day/person10.2510.25
Primary indicatorSecondary indicatorUnit20242023Health and safetyWork-related deathsPerson00
Regular employeesPerson00ContractorsPerson00Death rate per 1,000 employees%00Lost days due to work injuryDay00LTIFR per million hours of employees%00LTIFR per million hours of contractors%00Work safety accidentsCase00Participants in health and safety trainingPerson-times165,965115,035Work safety investmentRMB 10,0005,966.262,422.05Social insurance coverage of dispatched workers%100100OthersTotal employees participating in satisfaction surveysPerson8,6917,486Coverage of employees participating in satisfactionsurveys
%55.0458.55Employee satisfaction
%85.8484.39Total employees in the labour union as of the end of theReporting Period
Person15,79012,786Proportion of employees in the labour union as of theend of the Reporting Period
%100100
Supply chain-related indicatorsPrimary indicatorSecondary indicatorUnit20242023
Suppliers with long-term cooperation-4,2713,525Suppliers screened and controlled based onenvironmental and social risks
-2,3762,841Suppliers assessed ashaving significantnegative impact
-00Suppliers assessed ashaving significantnegative impact andhaving rectified
-00Suppliers assessed ashaving significantnegative impact andwhose cooperation wasterminated
-00Proportion of suppliers screened and controlled basedon environmental and social risks
%65.2480.60Suppliers who passed the certification for quality,occupational health and safety, environment protection,or energy management
-3,2631,210Suppliers participating in training and capacityenhancements
-1,7091,045
127128
ESG key performance indicators
Product/Service-related indicatorsIndicatorUnit20242023
Total customer complaintsCase1734Complaint resolution rate%100100Total customers participating in satisfactionsurveys
Case7,1524,598Proportion of customers participating insatisfaction surveys
%23.9523Customers surveyed assatisfied
Case6,8004,552
Social contribution-related indicatorsIndicatorUnit20242023
Public welfare donations
RMB
10,000
557.09524.47Number of volunteersPerson5046Voluntary service hoursHour720356
IndicatorUnit20242023
Coverage of directorsparticipating in training
%100100Coverage of regular employeesparticipating in training
%100100Total compliance training conducted during theyear
Session1219Total participants of compliance training duringthe year
Person12,6008,400Total ESG training during the yearSession66Total duration of ESG training during the yearHour2418Total participants of ESG training during theyear
Person716120
Governance KPIsBusiness ethics-related indicatorsIndicatorUnit20242023
Total anti-corruption training conducted duringthe year
Session2,694145Total participants of anti-corruption trainingduring the year
Person66,01326,379
Innovation and R&D-related indicators
IndicatorUnit20242023
Annual R&D investment
RMB 100million
10.589.52Patents applied for during the year-870704
Patents for inventions-485362Patents granted during the year-530606
Patents for inventions-212227Cumulative valid patents-5,2534,852
Patents for inventions-1,6161,204Cumulative software copyrights registered-3834Provincial and ministerial awards in science andtechnology
-115Standards for which BNBM participated inpreparation or revision
-285195
129130
Future Outlook
Future OutlookReaching the summit, we aim to expand new horizons. BNBM will remain mindful of the "nation's priorities" andfocus on the "nation's essential materials," staying true to our mission of "Green Technology, Quality Life." Guidedby our core values of "Innovation, Performance, Harmony, and Responsibility," we will share the BNBM story andstrive to propel the Company's high-quality development to new heights.In the new year, we will continue to drive development through innovation. We will fully promote innovativepractices across multiple dimensions, including "strategic-led innovation, technology and business expansioninnovation, functional empowerment innovation, and international acceleration innovation," vigorously advancingthe development of new products, businesses, and models.In the new year, we will deepen integration and synergy to foster development. We will strengthen comprehensiveintegration within the "One Body" and between the "One Body" and the "Two Wings," enhance collaboration acrosssectors, promote industrial integration, advance regional coordinated progress, and deepen the integration of theindustrial and innovation chains. We are committed to driving synergy and integration to greater depth andpractical outcomes.In the new year, we will strengthen Party building to propel development, effectively transforming Party-buildingadvantages into corporate development strengths. We will focus on implementing the Company's "One Body, TwoWings and Global Layout" strategy, adhere to green manufacturing, and build a green building industry chain acrossthe entire lifecycle. We will relentlessly pursue the creation of high-quality products to meet the people's aspirationsfor a better life, accelerating our journey to become a world-class demonstration enterprise.
131132
Future Outlook
Appendix
Disclosure
Chapter, page number orother descriptionsEnvironmentalPrimaryindicators
Secondaryindicators
Tertiary indicators
Prevention andcontrol ofpollution
Wastewater
E.2.1.1 Wastewater discharge complianceE.2.1.2 Wastewater management andabatement measuresE.2.1.3 Wastewater dischargeE.2.1.4 Wastewater pollutant emissionsE.2.1.5 Wastewater Pollutant DischargeConcentration
ESG key performance indicators；Green and Circular EconomyProducts- Strengtheningenvironmental management
Waste gas
E.2.2.1 Waste gas emission complianceE.2.2.2 Emissions of waste gas pollutantsE.2.2.3 Waste gas pollutant emissionconcentration
ESG key performance indicators；Green and Circular EconomyProducts- Strengtheningenvironmental management
Solid waste
E.2.3.1 Legal compliance for solid wastedisposalE.2.3.2 General industrial solid wastemanagementE.2.3.3 General industrial solid waste disposalE.2.3.4 Hazardous waste managementE.2.3.5 Hazardous waste disposal volume
ESG key performance indicators；Green and Circular EconomyProducts- Strengtheningenvironmental management
Climate change
GHGemissions
E.3.1.1 Sources and types of greenhouse gasesE.3.1.2 Greenhouse gas emissionsmanagementE3.1.3 Scope I emissionsE3.1.4 Scope II emissionsE3.1.6 Greenhouse gas emission intensity
ESG key performance indicators；Green and Circular EconomyProducts- Advancing the “CarbonPeaking and Carbon Neutrality”strategy; Practicing low-carbonproduction
Appendix
Index table of indicators
Index of Reference of ESG Indicators System for ESG Reports of ListedCompanies Controlled by Central Enterprises
Disclosure
Chapter, page number orother descriptions
EnvironmentalPrimaryindicators
Secondaryindicators
Tertiary indicators
Resourceconsumption
Water
E1.1.1 Fresh water usageE.1.1.2 Circulating water consumptionE.1.1.3 Percentage of recycled water usageE.1.1.4 Intensity of water consumption
ESG key performance indicators；Green and Circular EconomyProducts- Promoting circulareconomy
Materials
E.1.2.1 Consumption of non-renewablematerialsE.1.2.2 Consumption of toxic and hazardousmaterialsE.1.2.3 Intensity of material consumption
ESG key performance indicators；Green and Circular EconomyProducts- Strengtheningenvironmental management
Energy
E.1.3.1 Fossil energy consumptionE.1.3.2 Non-fossil energy consumptionE.1.3.3 Proportion of non-fossil energy useE.1.3.4 Total energy consumptionE.1.3.5 Energy intensity
ESG key performance indicators；Green and Circular EconomyProducts- Strengtheningenvironmental management
Packagingmaterials
E.1.4.1 Packaging material usageE.1.4.2 Packaging material lightweightreduction
ESG key performance indicators
133134
Appendix
Disclosure
Chapter, page number orother descriptions
EnvironmentalPrimaryindicators
Secondaryindicators
Tertiary indicators
Climatechange
Emission reductionmanagement
E3.2.1 Greenhouse gas emissionintensityE3.2.2 Greenhouse gas emissionreductions
Green and Circular EconomyProducts- Advancing the“Carbon Peaking and CarbonNeutrality” strategy; Practicinglow-carbon productionClimate riskmanagement
E.3.4.1 Climate risk management
Green and Circular EconomyProducts- Feature: climatechange risks and opportunitiesmanagement
Resource andenvironmentalmanagementsystems andmeasures
Low-carbondevelopment goalsetting and strategicmeasures
E.5.1.1 Low-carbon development goal-setting and strategic measures
Green and Circular EconomyProducts- Advancing the“Carbon Peaking and CarbonNeutrality” strategyResourcemanagementmeasures
E.5.2.1 Water use managementE.5.2.2 Material Use ManagementE.5.2.3 Energy use and energyconservation management
Green and Circular EconomyProducts- Practicing low-carbonproduction; Promoting circulareconomyEnergy saving andcarbon reductionstatistics monitoringand assessment /reward / punishmentsystems
E.5.3.1 Energy saving and carbonreduction monitoring, statisticalreporting and assessment system
Green and Circular EconomyProducts- Advancing the“Carbon Peaking and CarbonNeutrality” strategy
Green actions andmeasures
E.5.4.1 cleaner productionE.5.4.2 Green technologies and recyclingE.5.4.3 Green Building RetrofitsE.5.4.4 Green office and operationsE.5.4.5 Green procurement and greensupply chain management
Green and Circular EconomyProducts
Green/low-carboncertifications
E.5.5.1 Environmental ManagementSystem CertificationE.5.5.2 Green Low Carbon EnterpriseCertificationE.5.5.3 Certification of Green and LowCarbon Products and Services
Green and Circular EconomyProducts- Promoting circulareconomy; Strengtheningenvironmental management
Disclosure
Chapter, page number orother descriptionsEnvironmentalPrimaryindicators
Secondaryindicators
Tertiary indicators
Resource andenvironmentalmanagementsystems andmeasures
Environmentalcompliance
E.5.6.1 Emergency Response Plan forEnvironmental EmergenciesE.5.6.2 Violations in the field of theenvironment
ESG key performance indicators；Green and Circular EconomyProducts- Strengtheningenvironmental managementSocial
Employees’rights andinterests
Recruitment andemployment
S1.1.1 Corporate Recruitment Policy andImplementationS1.1.2 Employee StructureS1.1.3 Avoidance of child or forced labor
ESG key performance indicators;All-rounded Talent Cultivation-Safeguarding employees’ rightsand interests
Employeeremuneration andbenefits
S1.2.1 Compensation Philosophy andPolicyS1.2.2 Working hours and rest andvacationS1.2.3 Security of remuneration andbenefitsS1.2.4 Democratic management ofemployees
ESG key performance indicators;All-rounded Talent Cultivation-Safeguarding employees’ rightsand interests
Health and safety
S1.3.1 Employee Occupational Healthand Safety ManagementS1.3.2 Employee Safety Risk Preventionand ControlS1.3.3 Responding to Safety Accidentsand Workplace InjuriesS1.3.4 Employee Care and Support
ESG key performance indicators;All-rounded Talent Cultivation-Strengthening intrinsic safety
Employeedevelopment andtraining
S1.4.1 Employee Incentive andPromotion PolicyS1.4.2 Employee Education and TrainingS1.4.3 Employee Career Planning andJob Change Support
ESG key performance indicators;All-rounded Talent Cultivation-Safeguarding employees’ rightsand interests; Supportingemployee developmentEmployee satisfaction
S1.5.1 Employee Satisfaction SurveyS1.5.3 Employee turnover
ESG key performance indicators;All-rounded Talent Cultivation-Safeguarding employees’ rightsand interests; Supportingemployee development
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Appendix
Disclosure
Chapter, page number orother descriptions
SocialPrimaryindicators
Secondaryindicators
Tertiary indicators
Contributionto society
Response to nationalstrategies
S4.4.1 Industrial transformationS4.4.2 Rural revitalisation and regionalcoordinated developmentS4.4.3 The Belt and Road and overseasresponsibility fulfillmentS4.4.4 Industry characteristics andperformance of other socialresponsibilities
ESG key performance indicators;Responsible Cooperations-Promote win-win cooperation;Co-creating social value
Governance
Governancestrategy andorganisationalstructure
Governance strategyand process
G1.1.1 Governance strategy formulationG1.1.2 Governance policy supervisionprocessG1.1.3 Approval and review process ofgovernance policyG1.1.4 Party building leads
Sustainable developmentgovernance structure;Sustainable developmentstrategy; Sustainable corporategovernance- Deepeningcorporate governance; Adheringto the Party’s leadership
Organisationalstructure andfunctions
G1.2.1 Ownership ResponsibilitiesG1.2.2 Organizational structure andfunctions of the Board of Directors, theBoard of Supervisors and theManagementG1.2.3 Appointment procedures andcomposition of the Board of Directors,the Board of Supervisors and theManagement
ESG key performance indicators;Sustainable corporategovernance- Deepeningcorporate governance
Remunerationmanagement
G1.3.3 Reasonableness of managementremuneration
All-rounded Talent Cultivation-Safeguarding employees’ rightsand interests; Supportingemployee development
Standardisedgovernance
Internal control
G2.1.1 Internal AuditG2.1.2 Structure, mechanism andprocess of internal control
Sustainable corporategovernance- Implement riskprevention and control;Compliance operationIntegrity building
G2.2.1 Regulations and norms ofintegrity constructionG2.2.2 Effectiveness of integrityconstruction measures
Sustainable corporategovernance- Cultivating IntegrityConstruction
Disclosure
Chapter, page number orother descriptionsSocialPrimaryindicators
Secondaryindicators
Tertiary indicators
Product andservicemanagement
Product safety andquality
S2.1.1 Policies and measures forstandardised manufacturingManagementS2.1.2 Quality managementS2.1.4 Negative events for products orservices
ESG key performance indicators;All-rounded Talent Cultivation-Strengthening intrinsic safety;High Standard Solutions- Deliveroptimal services
Customer service andrights
S2.2.1 Customer satisfactionS2.2.2 Customer complaints andresponsesS2.2.3 Customer information andprivacy protection
ESG key performance indicators;High Standard Solutions- Deliveroptimal services
Innovativedevelopment
S2.3.1 R&D and innovation managementsystemsS2.3.2 R&D investmentS2.3.3 Achievements in InnovationS2.3.4 Protection of intellectual property
ESG key performance indicators;High Standard Solutions- Deliveroptimal services; Promotetechnological innovation;Sustainable corporategovernance- Complianceoperation
Supply chainsafety andmanagement
Suppliermanagement
S3.1.1 Supplier selection andmanagementS3.1.2 Number and distribution ofsuppliers
ESG key performance indicators;Responsible Cooperations-Promote win-win cooperation
Supply chainmanagement
S3.2.1 Policies and measures in supplychain managementS3.2.2 Supply chain security assuranceand contingency plansS3.2.3 Significant risks and impacts(supply chain)
ESG key performance indicators;Responsible Cooperations-Promote win-win cooperation
Contributionto society
Prosperity with thecommunity
S4.2.1 Policies and measures in localcommunity buildingS4.2.2 Contribution and impact on localcommunities
ESG key performance indicators;Responsible Cooperations-Promote win-win cooperation;Co-creating social valueSocial welfareactivities
S4.3.1 Policies and measures toparticipate in social welfare activitiesS4.3.2 Investment and performance insocial welfare activities
ESG key performance indicators;Responsible Cooperations-Co-creating social value
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Appendix
Table of contentsGRI indicators systemIntroduction2-1；2-2；2-3Chairman statement2-22Statement of the Board of Directors2-12; 2-13; 2-14; 2-16; 2-17; 2-22About us
Company profile
2-6Corporate cultureSustainable development governance structure2-12；2-13；2-17Sustainabledevelopmentstrategy
Sustainable development strategicframework
2-22Sustainable developmentmanagement progress and keyperformance
2-22；301-3Sustainability AwardsSustainabledevelopment issueanalysis andassessment
Stakeholder communication
2-1；2-29；3-1；3-2Sustainable development issueanalysis
Sustainablecorporategovernance
Deepening corporate governance
2-9；2-10；2-16；3-3Adhering to the Party’s leadershipCultivating integrity construction2-25；2-26；3-3；205-2Implement risk prevention andcontrol
3-3Compliance operation2-27；3-3
GRI indexDisclosure
Chapter, page number orother descriptionsSocialPrimaryindicators
Secondaryindicators
Tertiary indicators
Standardisedgovernance
Fair competition
G2.3.1 Regulations and norms of faircompetitionG2.3.2 Effectiveness of fair competitionmeasures
Sustainable corporategovernance- Cultivating IntegrityConstruction
Investorrelationmanagementandshareholders’equity
Investor relationmanagement
G3.1.1 Investor Relations ManagementStrategyG3.1.2 Investor Communication
Sustainable development issueanalysis and materialityassessment- Stakeholderscommunication
Shareholders’equity
G3.2.1 Shareholders' Meeting (GeneralMeeting)G3.2.2 Shareholder CommunicationG3.2.3 Shareholders' right to know andparticipate in decision-making
Sustainable development issueanalysis and materialityassessment- Stakeholderscommunication
Transparencyin Informationdisclosure
Informationdisclosure policy
G4.1.2 Non-Financial informationdisclosure
Sustainable development issueanalysis and materialityassessment- StakeholderscommunicationQuality of informationdisclosure
G4.2.1 Regular monitoring, auditing, andevaluation of all disclosed informationcompliance and risk management
Sustainable developmentgovernance structure
Complianceoperation andriskmanagement
Complianceoperation
G5.1.1 Compliance operation systemG5.1.2 Status of compliance systemdevelopmentG5.1.3 Specific process of compliancereview
Sustainable corporategovernance- Complianceoperation
Risk management
G5.2.1 Risk identification and earlywarningG5.2.2 Risk control and trackingG5.2.3 Risk reporting and management
Sustainable corporategovernance- Implement riskprevention and control
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FeedbackAppendix
Table of contentsGRI indicators system
Green and circulareconomy products
Advancing the “Carbon Peakingand Carbon Neutrality” strategy
302-4；305-5Strengthening low-carbonproduction
3-3；302-5Promoting circular economy3-3；301-1；302-5；303-1；306-4；306-5Strengthening environmentalmanagement
2-27；3-3；303-1；303-2；306-1；306-2；
417-1Feature: climate change risks andopportunities management
3-3；201-2High standardsolutions
Deliver optimal services
3-3Promote technological innovation3-3Develop new productive forcethrough green transition
203-1；413-1All-rounded talentcultivation
Strengthening intrinsic safety2-18；3-3；403-1；403-2；403-5；403-6；
403-7；403-8Safeguarding employees’ rightsand interests
2-18；2-19；2-20；2-30；3-3；404-3Supporting employee development3-3；201-3；401-2；404-2Responsible industrycollaboration
Promote win-win cooperation
3-3；308-1Co-creating social value203-1；413-1ESG key performanceindicators
2-7；301-1；301-2；301-3；302-1；302-2；
302-3；303-5；305-1；305-2；305-4；306-3；
306-5；308-2；401-1；403-9；404-1；405-1；
417-1
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