厦门国贸：Xiamen ITG Group2024Sustainability Report

About This Report

This is the 2024 Sustainability Report ("this report")released by Xiamen ITG Group Corp., Ltd. (referred to as"Xiamen ITG Group" or "We"). This report aims to providestakeholders with an overview of 2024 Sustainabilityperformance and initiatives in Xiamen ITG Group.

This report is prepared in accordance with the Sustainability Disclosure Standards for Enterprise – General Requirements (Trial), jointly formulatedby the Ministry of Finance of the People's Republic of China, the Ministry of Foreign A?airs, the National Development and Reform Commission,the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Commerce, the People's Bankof China, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the National Financial RegulatoryAdministration, and the China Securities Regulatory Commission. It also follows the Guidelines No. 14 of Shanghai Stock Exchange for Self-Regulation of Listed Companies – Sustainability Report (Trial) and the Guide No.4 for Self-Regulatory Supervision on Listed Companies of theSSE — Compilation of Sustainable Development Reports issued by the Shanghai Stock Exchange, the Sustainability Accounting Standards Board(SASB) Standards, the Reference of ESG Indicators System for ESG Reports of Listed Chinese Central State-Owned Enterprises issued by the SASACResearch Center, the European Sustainability Reporting Standards (ESRS) released by the European Commission, and the two IFRS SustainabilityDisclosure Standards(ISDS) issued by the International Sustainability Standards Board (ISSB). Additionally, this report incorporates disclosurerequirements aligned with the United Nations Sustainable Development Goals (SDGs).

ReferenceGuidelines

This report is released in electronic format in both Simpli?ed Chinese and English. In case of any inconsistencies between the Chinese andEnglish versions, the Chinese version shall prevail. The electronic version of the report is available on our o?cial website (www.itg.com.cn) andthe Shanghai Stock Exchange website (www.sse.com.cn). If you have any comments or suggestions on our economic, environmental, and socialperformance, please contact [e-mail].

Report Availability

and Feedback

The reporting period is between January 1, 2024, and December 31, 2024 and some parts of the report are beyond the aforementioned scope.Unless otherwise speci?ed, the environmental, social, and economic data disclosed in this report includes all enterprises within the scope of theconsolidated statement of Xiamen ITG Group Corp., Ltd.Reporting Scope

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enterprises. On the production side, we promote clean energy substitution,optimize energy consumption in production processes, and advance wastewaterrecycling. On the production side, we implemented slope re-vegetation in miningareas and optimized wastewater collection and reuse. On the product side,we developed recycled paper and green ?bers, promoting a circular economy.On the logistics side, we deployed rooftop photovoltaics and developed zero-carbon industrial parks.In 2024, several of our green transformation practices were recognized as the"2024 Outstanding Case of Sustainable Development of Listed Companies." Wewere also granted with the "ESG Profound Awards - Pioneer Enterprise Awards"and the "Outstanding ESG Enterprise."

Global Expansion: Building a Resilient Supply Chain NetworkGlobal deployment is the geographic foundation of a resilient supply chain, andresilience is the operational cornerstone of sustainable development. In theface of rising international uncertainties, we remained ?rm in our "go-global"strategy, continuously optimizing our global supply chain layout and enhancingoverall resilience. We launched a dedicated International DevelopmentDepartment and formulated the "1234" internationalization strategy. Tradevolume with countries along the Belt and Road Initiative reached approximately90 billion RMB. We accelerated the overseas expansion of our new energy supplychain business, established o?ces in Germany and South Africa, and advancedglobal operations in photovoltaics, energy storage, wind energy, hydrogenenergy, and battery recycling.We have gradually built a sound risk diversi?cation mechanism and secured

access to abundant green resources, signi?cantly strengthening our riskresilience and green development capabilities.

Shared Value: Upholding Long-Termism in Corporate DevelopmentWe ?rmly believe that sustainable corporate growth must be built on sharedvalue with our stakeholders. In 2024, we deepened our commitment to corporatesocial responsibility by allocating more resources to rural revitalization, educationsupport, and public health, contributing to sustainable social development.We focused on developing our agricultural supply chain, establishing a full-chain layout from production bases to logistics hubs and urban retail terminalsto improve operational e?ciency and ensure food security. Through long-termpartnerships in rural revitalization, we actively explored a shift from "externalsupport" to "endogenous development." Under our philanthropic brand"Caring for Dreams," we carried out more than3,000 hours of volunteer servicesannually. In the healthcare sector, we accelerated the development of a full-cycle intelligent health management system, aligned with the national "HealthyChina" initiative, and contributed to the expansion and enhancement of publichealth services and the broader wellness industry.Our Strategic Priorities for the Coming YearDeepening digitalization:We will continue increasing investment in digitalization,upgrade the "ITG Cloud Chain" platform, and expand its applications acrossnew industrial scenarios. We will explore "AI + Supply Chain" models to improvevisibility and forecasting capabilities. We will also enhance our smart risk controland R&D systems to strengthen supply chain decision-making and resilience.Accelerating green innovation: We will promote full-process decarbonizationThe chairman of Xiamen ITG Group

of the supply chain, scale up green logistics and zero-carbon warehousing,and accelerate the deployment of new products and materials to cultivate newgrowth drivers. We will deepen the development of our new energy supply chainbusiness and lead in building zero-carbon supply chain benchmarks.Expanding global presence: We will optimize global resource allocation,deepen our engagement along the Belt and Road Initiative, expand supplychain networks within RCEP member states, and enhance the internationalcompetitiveness of China's supply chain sector. We will work with globalpartners to co-create a sustainable global industrial ecosystem.To our colleagues and partners: Over the past 45 years, through cycles of change andchallenge, we have always regarded sustainability as the foundation of our long-termsuccess. We will remain committed to upgrading our business model through theintegration of supply chains, industrial chains, and value chains, and to becoming atrusted global industrial partner. Anchored in long-termism, we are determined topursue what is di?cult but right. With greater openness and collaboration, we willwork with global partners to build a safer, smarter, greener, and more e?cient andresilient modern supply chain system. By maintaining our internal strength amidexternal uncertainty, we will continue to generate stable long-term value for ourshareholders, inject new momentum into high-quality industrial development, andcontribute to the broader cause of sustainable development.

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We uphold the mission of "Integrate Industry to Connect, Create Value to Share", adhere to the core values of "Leadership, Responsibility, Hardworking, and Partnership," and striveto become a trusted global industrial partner. We closely align with national strategic plans, actively respond to the Belt and Road Initiative, and integrate into the new developmentparadigm of "dual circulation". We serve the carbon peaking and carbon neutrality goals, and ensure the security, stability, agility, e?ciency, intelligence and sustainability ofindustrial supply chains.In our core business of supply chain management, we operate eight vertical industrial chains—metallurgy, energy & chemicals, textiles, non-ferrous metals, pulp & paper,agricultural products, rubber, and new energy as well as general solutions represented by logistics and digital technology, providing customers with "ITG Solutions" forcomprehensive industrial services. We have innovatively introduced an upgraded business model of integrating supply chain, industrial chain, and value chain, aiming to enhanceour operations with end-to-end supply chain services as the core, internationalized industrial chain operations as the driving force, and high-e?ciency value chain collaboration asthe safeguard. We continuously promote business iteration and upgrading, inspiring ongoing value creation.In the healthcare technology segment, we integrate resources through an innovative development model and establish a "1+3" medical and healthcare business model, focusingon the medical device segment as our core business, while supporting it with elderly care services, healthcare big data, and health services. Relying on ?ve capability centers, weare building a comprehensive healthcare industry ecosystem, establishing a collaborative platform that connects enterprises, society, and the government.

Brand Philosophy

Eight VerticalIndustrial Chains

Metallurgy

energy &chemicals

textiles,non-ferrous

metals

non-ferrous

metalspulp &paperagriculturalproducts

rubber

energy

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In accordance with the assessment methodologie outlined in latest domestic and international disclosure standards, including the Sustainability Disclosure Standards for Enterprise – GeneralRequirements (Trial), jointly formulated by the Ministry of Finance of the People's Republic of China, the Ministry of Foreign A?airs, the National Development and Reform Commission, the Ministryof Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Commerce, the People's Bank of China, the State-owned Assets Supervision and AdministrationCommission of the State Council (SASAC), the National Financial Regulatory Administration, and the China Securities Regulatory Commission, the Guidelines No. 14 of Shanghai Stock Exchange for Self-Regulation of Listed Companies – Sustainability Report (Trial) and the Guide No.4 for Self-Regulatory Supervision on Listed Companies of the SSE – Compilation of Sustainable Development Reportsissued by the Shanghai Stock Exchange, the European Sustainability Reporting Standards (ESRS) released by the European Commission, and the two IFRS Sustainability Disclosure Standards(ISDS) issuedby the International Sustainability Standards Board (ISSB), we carried out a double materiality assessment to identify sustainability matters that have signi?cant impacts on our long-term corporate valueand stakeholders.In conducting the double materiality assessment, we considered both the potential impact of sustainability matters on our ?nancial performance (?nancial materiality) and our external impacts on theenvironment and society (impact materiality). We collected input through questionnaires from 353 stakeholders and, based on the results of both ?nancial and impact materiality assessments, identi?ed12 material matters. We have addressed and elaborated on the 12 identi?ed material matters in the corresponding sections of this report.

Double MaterialityAssessment Process

Step 1Step 3Step 2Step 4

Understanding the Context andIdentifying Sustainability MattersThe company identi?ed 30 potentialkey matters based on ?ve categoriesof factors and formed a sustainabilitymatters list.

Impact and Financial MaterialityAssessmentThe company evaluated the impactmateriality and ?nancial materiality ofeach matter based on two dimensions:

severity of impact and likelihood ofoccurrence.

Consolidating Impact and FinancialMateriality OutcomesBased on the results from Step 2, thecompany developed the MaterialityMatrix for 2024

Analyzing the outcomes for reporting andpractice guidanceThe Strategic and Sustainable DevelopmentCommittee reviewed the analysis resultsand the company performed targeteddisclosure and enhanced practices basedon the results.

2024 Double Materiality Assessment Process

Management ofMaterial Matters

In line with the methodologies outlined in the aforementioned sustainability disclosure standards, we conducted the double materiality assessment following the steps below:

Understanding the Context and Identifying Sustainability Matters

We comprehensively considered the following ?ve categories of factors to identify a list of sustainability matters relevant to our business.

The Sustainability Disclosure Standards for Enterprise – General Requirements (Trial), jointlyformulated by the Ministry of Finance of the People's Republic of China, the Ministry of ForeignA?airs, the National Development and Reform Commission, the Ministry of Industry andInformation Technology, the Ministry of Ecology and Environment, the Ministry of Commerce,the People's Bank of China, the State-owned Assets Supervision and AdministrationCommission of the State Council (SASAC), the National Financial Regulatory Administration,and the China Securities Regulatory Commission, the Guidelines No. 14 of Shanghai StockExchange for Self-Regulation of Listed Companies – Sustainability Report (Trial) and theGuide No.4 for Self-Regulatory Supervision on Listed Companies of the SSE – Compilation ofSustainable Development Reports issued by the Shanghai Stock Exchange, the SustainabilityAccounting Standards Board (SASB) Standards, the Reference of ESG Indicators System forESG Reports of Listed Chinese Central State-Owned Enterprises issued by the SASAC ResearchCenter,the European Sustainability Reporting Standards (ESRS) released by the EuropeanCommission, and the two IFRS Sustainability Disclosure Standards(ISDS) issued by theInternational Sustainability Standards Board (ISSB).

Step 1

Sustainability Disclosure Standardsand Guidelines

Global economic and trade dynamics are evolving amid increasing complexity, accompaniedby an accelerated transition toward sustainability. Supply chains are undergoing transformationtoward more intelligent, greener, and more globalized paradigms. Meanwhile, global compliancerequirements are tightening, and market demand is shifting toward hyper-?exible, diversi?ed, andscenario-driven customized services. In this context, it has become imperative to advance digital andintelligent transformation, enhance supply chain resilience and risk mitigation capabilities, embedinto multi-stakeholder ecosystems, and establish open and sustainable industrial networks.

Market Trends

Focusing on supply chain operations and developingemerging health-tech sectors. Leveraging industrial leadershipto drive mission-aligned innovation. Developing next-genindustries and new quality productive forces to boost globalcompetitiveness while fueling socioeconomic progress.

Corporate Strategy and Development Needs

The United Nations Sustainable DevelopmentGoals (SDGs), the 29th Conference of theParties of the UNFCCC (COP 29), the DueDiligence Guidance for Responsible BusinessConduct of Organisation for Economic Co-operation and Development (OECD), etc.

International Initiatives

The National carbon peaking and carbonneutrality goals, global temperature controltargets under the Paris Agreement, ScienceBased Targets initiative (SBTi), the Belt and RoadInitiative, trends in digitalization, intelligenttransformation, and supply chain restructuring,changes in international trade policies, etc.

Global Economic and Macro-Policy Outlook

We assessed the ?nancial materiality of each matter based on two criteria: the potential magnitude and the likelihood ofoccurrence.

Reference IndicatorsCosts

Considering factors such as market price of resources, trend forecasts, and the company'shistorical costsPro?ts

Evaluating the impact on pro?t through a comprehensive analysis of costs and anticipatedrevenues.

Financial Materiality AssessmentStep 2-2:

The likelihood of ?nancial e?ects on the company from the opportunitiesand risks associated with each sustainability matter in the short, medium,and long-term

.

The magnitude of direct and indirect, positive and negative impacts thatthe opportunities and risks associated with each material sustainabilitymatter may bring to the company's ?nancial performance during thereporting period and in future projections.Criteria 1:

Potential Magnitude

Criteria 2:

Likelihood of Occurrence

Financial Materiality Assessment OutcomesFinancial Materiality：Low

Financial Materiality：Medium

Financial Materiality：High

?Equal Employment?Employee Compensation and Bene?ts?Employee Communication?Tax Compliance?Anti-unfair Competition?Ethics of Science and Technology

?Contributing to Industry Development?Equal Treatment to Small and Medium-sized Enterprises?Waste Disposal?Ecosystem and Biodiversity Protection?Usage of Water Resources?Human Rights Protection?Occupational Health and Safety?Employee Development and Training?Rural Revitalization

?Climate Response?Supply Chain Security?Risk Control and Compliance?Product and Service Safety and Quality?Anti-Commercial Bribery and Anti- Corruption?Social Contributions?Circular Economy?Data Security and Customer Privacy?Communications with Stakeholders?Pollutant Discharge?Environmental Compliance Management?Energy Usage?Innovation-Driven Development?Responsible Sourcing?Due Diligence

Note 2: Low materiality refers to matters that may have a certain degree of impact in the short, medium, and long term, but the overall impact is relatively minor.

Note 3: Medium materiality refers to matters that have a clear impact in the short term and may exert further in?uence in the medium to long term.

Note 4: High materiality refers to matters that have a signi?cant impact in the short term and are highly likely to cause substantial impacts in the medium to long term.Note 1: Short term generally refers to within one year after the end of the reporting period (inclusive); Medium term refers to one to ?ve years after the end of the reporting period (inclusive); Long term refers to more than ?ve years after the end of the reporting period.

1124

2220

We consolidated the impact materiality and ?nancial materiality assessment outcomes of various sustainability matters in the form of a materiality matrix, identifying a total of 12 material matters.

Consolidating Impact and Financial Materiality OutcomesStep 3:

Financial Materiality

Impact Materiality

Environment SocietyGovernance

DoubleMateriality

Sustainability Topics

Hight

Environmental Compliance Management

Climate Response

Safety and Quality of Products and Services

Responsible Sourcing

Risk and Compliance Management

Innovation-driven Development

Pollutant Discharge

Circular Economy

Energy Utilization

Supply Chain Security

Social Contributions

Due Diligence

Midium

Occupational Health and Safety

Human Rights Protection

Employee Communication

Employee Compensation and Bene?ts

Equal Treatment to Small and Medium-sized Enterprises

Anti-Commercial Bribery and Anti-Corruption

Waste Disposal

Anti-unfair Competition

Contributing to Industry Development

Employee Development and Training

Water Resources Utilization

Equal Employment

Data Security and Customer Privacy

Rural Revitalization

Stakeholder Engagement

Ecosystem and Biodiversity Protection

Low

Ethics of Science and Technology

Tax Compliance

Upon review and con?rmation of the ?nal materiality assessment results by our Strategic and Sustainable Development Committee, we have provided detailed disclosures in this report on the management approaches and speci?c actions related to mattersassessed as having high or medium materiality.

Reporting and Practice GuidanceStep 4:

Material

Matter

Scope of Impact

A?ectedStakeholders

RisksOpportunities

ImpactDuration

CorrespondingSDGs

Location in the

ReportValue ChainUpstreamOperationsValue ChainDownstreamCommunities

ClimateResponse

????

?Employees?Customers?Suppliers?Investors?Banks?Media Institutions?Government andRegulatory Authorities?Non-governmental Organizations

Market Risk: As consumer preferences shift toward green andlow-carbon products, traditional business lines may face decliningmarket demand and reduced business volume.Financial Risk: Climate change-induced extreme weather events(such as typhoons, ?oods, and droughts) may threaten supplychain stability and business continuity, potentially resulting inasset loss or impairment. Investments related to green transition,such as expanding into emerging markets, developing greenlogistics, conducting R&D, and upgrading equipment, often havelong return cycles and may increase short-term operating costs.

Business Expansion Opportunity: Accelerating green technologyinnovation and the development of a low-carbon product portfolio supportsproduct and service upgrades, enhances competitiveness under the greenand low-carbon transition, and creates new drivers of business growth.Brand Value Opportunity: Advancing green and low-carbon operationsand building a sustainable business model help shape a responsiblebrand image and enhance industry in?uence.Policy Incentive Opportunity: Expanding green business contributesto greater investor recognition, lower ?nancing costs, and access togovernment subsidies, green ?nance, and other supportive resources,thereby opening up broader opportunities for sustainable development.

Short-term,Medium-term,and Long-term

Climate ResponseCircular Economy

EnvironmentalComplianceManagement

????

?Employees?Customers?Suppliers?Investors?Banks?Media Institutions?Government andRegulatory Authorities?Non-governmental Organizations

Market Risk: An inadequate or poorly implemented environmentalmanagement system may result in non-compliance with lawsand regulations, leading to administrative penalties, disruption ofnormal operations, project approval delays, customer attrition, andreduced market opportunities.Compliance Risk: Exceeding pollutant discharge limits orfailing to meet environmental facility operation standards mayresult in environmental penalties, production suspension, legalproceedings, and reputational damage.Financial Risk: Investments in environmental treatment facilities,the establishment of management systems, and e?orts to meetenvironmental compliance requirements may increase short-termmanagement costs and resource input.

Business Expansion Opportunity: Continuously improving theenvironmental management system and compliance control mechanismshelps ensure stable business operations, enhance market accesscapabilities, and strengthen customer trust.Operational and Cost Optimization Opportunity: Promoting thedigitalization and standardization of environmental managementimproves management e?ciency while reducing operational risksand compliance costs.

Short-term,

Medium-term,and Long-term

Environmental

Compliance Management

5 Impact Duration De?nition: Short term generally refers to within one year after the end of the reporting period (inclusive); Medium term refers to one to ?ve years after the end of the reporting period (inclusive); Long term refers to more than ?ve years after the end of the reporting period.

MaterialMatter

Scope of Impact

A?ectedStakeholders

RisksOpportunities

ImpactDuration

Corresponding

SDGs

Location in the

ReportValue ChainUpstreamOperationsValue ChainDownstreamCommunities

PollutantDischarge

????

?Employees?Customers?Suppliers?Investors?Banks?Media Institutions?Government and Regulatory Authorities?Non-governmental Organizations

Market and Reputational Risk: Inadequate management ofpollutant discharges such as exhaust gas, wastewater, and solidwaste may lead to excessive emissions, environmental penalties,or compliance violations. This could result in ?nes, productionrestrictions or suspensions, and damage to brand reputation,ultimately a?ecting long-term sales revenue.Financial Risk: Investments in emission control facilities, cleanerproduction upgrades, and other environmental initiatives mayincrease short-term costs and management pressure.

Brand Value Enhancement Opportunity: Improving the environmentalmanagement system and ensuring compliance with pollutant dischargeregulations enhance the company's green brand image, helping to gainpolicy support and market recognition.Operational and Cost Optimization Opportunity: Strengtheningpollutant emission control and advancing cleaner production and greenoperations help reduce environmental compliance costs and improveresource e?ciency.

Short-term,Medium-term,and Long-term

Pollutant Discharge

CircularEconomy

????

?Customers?Suppliers?Banks?Media Institutions?Government andRegulatory Authorities?Non-governmental Organizations

Market Risk: Insu?cient capabilities or practices in resource recyclingmay hinder the ability to meet market and customer preferencesfor green products and sustainable supply chains, thereby a?ectingbusiness expansion and revenue growth in related segments.Financial Risk: Promoting resource recycling and green technologyupgrades may lead to increased short-term ?nancial costs relatedto facility construction, material certi?cation, and innovationinvestment.

Business Expansion Opportunity: Actively advancing circular economyinitiatives enables us to gain a ?rst-mover advantage in the green supplychain market. With policy support and market momentum, we can tapinto new business growth opportunities, enhance revenue drivers, andstrengthen customer loyalty.Operational and Cost Optimization Opportunity: Promoting e?cientresource utilization and circular management helps optimize operationalprocesses, improve resource e?ciency, and reduce overall costs, therebydriving comprehensive improvements in operational quality and e?ciency.

Medium-term,and Long-term

Circular Economy

Energy Usage??

?Customers?Suppliers

Market Risk: Elevated or highly volatile energy prices may lead toconstrained access to key resources and increased product costs,weakening market competitiveness and potentially resulting in adecline in sales revenue.Financial Risk: In the context of energy price ?uctuations and stricterenergy consumption regulations, the phasing out of energy-intensiveequipment, energy structure transformation, investments in cleanenergy facilities, channel development, and technology adaptationmay increase short-term ?nancial costs.

Business Expansion Opportunity: Optimizing the energy structurecan enhance production stability and strengthen the company's long-term competitiveness. Low-energy-consumption products and servicesare attractive to high-value customers that prioritize green supplychains and environmental responsibility, creating more partnershipopportunities and driving revenue growth.Operational and Cost Optimization Opportunity: Diversifyingenergy sources and investing in clean energy help reduce procurementand carbon emission costs. Energy digitalization and the applicationof clean energy technologies can improve energy e?ciency and loweroperational expenses.

Medium-term,and Long-term

Energy Usage

5 Impact Duration De?nition: Short term generally refers to within one year after the end of the reporting period (inclusive); Medium term refers to one to ?ve years after the end of the reporting period (inclusive); Long term refers to more than ?ve years after the end of the reporting period.

Material

Matter

Scope of Impact

A?ectedStakeholders

RisksOpportunities

ImpactDuration

CorrespondingSDGs

Location in the

ReportValue ChainUpstreamOperationsValue ChainDownstream

Communities

Safety andQuality ofProducts andServices

????

?Customers?Suppliers

Market and Reputational Risk: Substandard product quality or serviceperformance may lead to customer complaints, returns, or compensationclaims, damaging the company's brand image. This can result in a loss ofmarket share and have a direct impact on revenue.Compliance Risk: With increasingly stringent national and industryregulations on product quality and safety, companies face additionalcosts related to certi?cation, testing, and technical upgrades. In theevent of a quality or safety incident, legal proceedings or administrativepenalties may occur, leading to ?nes and recti?cation costs.

Brand Value Enhancement Opportunity: Strengthening productquality management and improving service standards help builda premium brand, enhance customer satisfaction and loyalty, andincrease brand equity.Market Development Opportunity: Responsible products andservices boost market competitiveness, support entry into high-endmarkets, expand business boundaries, and reinforce the company'scompetitive edge.

Long-term

负责任消费和生产

Safety and

Quality of Products and

Services

Innovation-drivenDevelopment

???

?Employees?Customers?Suppliers?Investors

Market Risk: Slow implementation of technological innovation anduncertainty in the commercialization of R&D outcomes may result inunderperformance of new business models or application scenarios,putting pressure on short-term pro?tability.Compliance Risk: As regulatory oversight of emerging technologiescontinues to tighten, failure to meet industry standards or policyrequirements may lead to compliance penalties or recti?cation costs.Technology and Management Risk: Immature management of newtechnologies and innovation projects may lead to service interruptions,intellectual property disputes, and talent turnover, increasing the costs oftechnical maintenance and human resources.

Market Expansion Opportunity: Demand-driven innovation enablesus to capture untapped market segments, driving revenue growth andstrengthening customer loyalty.Cost Optimization Opportunity: Technological innovation enhancessupply chain transparency and operational e?ciency, helping to reduceprocurement, warehousing, logistics, and other operational costs.Policy Support Opportunity: National support for the development of thedigital economy and green, low-carbon supply chains may bring access togovernment subsidies or tax incentives.

Long-term

产业、创新和基础设施

Innovation-driven Development

ResponsibleSourcing

???

?Customers?Suppliers?Investors

Market Risk: Failure to adhere to responsible sourcing standards orlack of ESG compliance among suppliers may result in supply chaindisruptions, threaten business continuity, lead to customer attrition, andlimit business opportunities.Reputational Risk: Low supply chain transparency or suppliermisconduct may damage brand image, weaken long-term customerrelationships, and hinder market expansion.Compliance Risk: ESG violations within the supply chain may lead tolegal disputes and increase litigation-related costs. Managing a diversesupplier base also raises the complexity and cost of compliance reviewsand supply chain oversight.

Market Development Opportunity: Adhering to responsible sourcingstandards and establishing a transparent and compliant supply chain canenhance corporate reputation, broaden market access quali?cations, attracthigh-value orders and premium clients, and expand business boundaries.Technology and Digital Transformation Opportunity: Digital procurementplatforms and traceability systems can foster the development of new supplychain service o?erings and generate additional value-added service income.Operational and Cost Optimization Opportunity: Strengtheningsupply chain risk management and advancing a diversi?ed and localizedresponsible sourcing strategy can e?ectively mitigate risks related to pricevolatility and supplier dependency, support stable business operations, andoptimize overall cost structure.

Medium-term, andLong-term

负责任消费和生产

促进目标实现的伙伴关系

Supply ChainSecuritySupply ChainSecurity

???

5 Impact Duration De?nition: Short term generally refers to within one year after the end of the reporting period (inclusive); Medium term refers to one to ?ve years after the end of the reporting period (inclusive); Long term refers to more than ?ve years after the end of the reporting period.

Communications with StakeholdersStakeholders

EmployeesClientsSuppliersInvestorsMedia Institutions

Government andRegulatory BodiesBanks

Non-governmentalOrganizationsMatters of Concern?Employee Compensation and Bene?ts?Occupational Health and Safety?Employee Communication?Equal Employment

?Responsible Sourcing?Anti-Commercial Bribery and Anti-Corruption?Data Security andCustomer Privacy Protection

?Risk Control and Compliance?Communications with Stakeholders?Equal Treatment toSmall and Medium-sized Enterprises?Responsible Sourcing

?Tax Compliance?Risk Control and Compliance?Supply Chain Security?Communications with Stakeholders

?Innovation-driven Development?Social Contributions?Complaint Mechanism and Whistleblower Protection

?Tax Compliance?Risk Control and Compliance?Occupational Health and Safety

?Risk Control and Compliance?Anti-Commercial Bribery and Anti-Corruption?Supply Chain Security

?Energy Usage?Data Security andCustomer Privacy Protection?Tax Compliance

Communication Methods?Employee Feedback Solicitation?Employee Training and Activities?Employee Satisfaction Surveys?Employee Feedback and Complaint Channels?Workers' Representative Meetings?Company WeChat PublicAccount and Intranet "Colleague Moments"

?Customer SatisfactionSurveys?Customer Service and Complaint Resolution?Social Media and Company Publications?Exhibitions and Industry Events

?Supplier Conferences?Exhibitions and Industry Events?Visits and Research?Discussions and Training?Big Data Monitoring

?Information Disclosure of Listed Company?Shareholders' Meetings?Earnings Conference Call and Webcast?Investor Surveys?Investor Hotline/sns.sseinfo.com Platform

?Social Welfare Activities?Information Disclosure of Listed Company?Media Communications?Public Opinion Monitoring

?Online Interaction?Visits and Research?Engagement in Policy Formulation and Suggestion?Government Project Cooperation?Information Disclosure

?Site Visits?Online Interaction?Project Cooperation?Business Training

?Site Visits?Company Website?Social Media?Industry Activities and Social Welfare Activities

About This Report Message from the Chairman Brand Philosophy Management of Material Matters Communications with Stakeholders Sustainability-Related Governance Environment Society Governance Index

Appointment of Directors and Senior Management

We actively promote the diversi?cation and professionalizationof the Board of Directors and management team, enhancing thecompany's governance standards. To ensure the fairness andtransparency of the nomination and appointment proceduresfor directors and senior management, our Company's Articlesof Association and the Nomination Committee ImplementationRules clearly de?ne the nomination and election processes.The Nomination Committee is responsible for advisingthe Board on matters concerning the composition of theBoard and the appointment criteria for directors and seniormanagement, considering diverse factors such as gender,age, educational and professional backgrounds, experience,character, reputation, and other service roles. Our independentdirectors provide independent and unequivocal assessmentsof the legality and compliance of procedures related tothe nomination or dismissal of directors, as well as theappointment or dismissal of senior management, and expresstheir opinions after assessing these procedures. Directorcandidates are presented to the shareholders' meeting forvoting after the approval of the Board of Directors, while seniormanagement are appointed upon approval by the Board ofDirectors. Diversity and ProfessionalismThe Board of Directors consists of nine members withdiverse gender and age representation, encompassingvarious professional backgrounds including economics,law, management, ?nance, and accounting. Among them,there are three independent directors, and one femaledirector. Board members possess extensive industry and

NamePosition

AgeProfessionalismBoard Committees

Attendance(Board meetings andBoard committeemeetings)Industry ExperienceOperationsManagementRisk Control andComplianceFinancial Accounting

Risk ControlCommitteeRemuneration andAppraisal CommitteeBudget CommitteeNomination CommitteeAudit Committee

Gao Shaoyong(Male)

Chairman52??????100%Cai Yingbin(Male)

Vice Chiarman and CEO45??????100%Xu Xiaoxi (Male)Director55???????100%Xiao Wei(Male)

Director59??????100%Zeng Yuan(Male)

Director43???????100%Zhang Wenna(Female)

Director45???????100%Liu Feng(Male)

Independent Director58???????100%Dai Yiyi(Male)

Independent Director57??????100%Peng Shuijun(Male)

Independent Director49?????100%Liu Zhitao(Male)

Executive Vice President44????/Fan Dan(Female)

Vice President andBoard Secretary

????/Yu Lijie(Female)

Vice President and CFO49????/Wang Xiaofeng(Male)

Vice President54????/Wang Yongqing(Male)

Vice President44????/Rong Kunming(Male)

Vice President38????/

corporate management experience, with all independentdirectors being seasoned experts in their respective ?elds.Additionally, over 50% of the directors hold doctoraldegrees. The professionalism and diversity of the boardmembers provide vital assurance for the board's informeddecision-making.Our senior management team boasts expertise in diverse?elds such as economics, accounting, and businessadministration, with extensive experience in corporatemanagement, ?nancial management, and risk management.Additionally, our senior management team includes twofemale executives, accounting for 28% of the team.We attach great importance to the continuous improvementof the capabilities of our directors, supervisors, and seniormanagement. We regularly provide them with the latestregulatory rules revised or issued by the China SecuritiesRegulatory Commission and stock exchanges for their study.At the same time, we actively organize training sessionsfor directors, supervisors, and senior management, hostedby stock exchanges, securities regulatory authorities,associations, and external organizations. These trainingsessions cover various new regulations and topics such asthe reform of the independent director system, new dutiesfor independent directors, and special training on mergersand acquisitions and restructuring of listed companies,aiming to continuously improve the company's standardizedoperations. During the reporting period, we organizedtraining for directors, supervisors, and senior managementwith 36 participants joined the training sessions.

Strategic and SustainableDevelopment Committee

Related-party TransactionConflicts of Interest

To regulate related party transactions, we have established the "RelatedParty Transaction Management System", which clearly de?nes the types ofrelated transactions, pricing principles, decision-making procedures, andinformation disclosure requirements. We strictly comply with relevant lawsand regulations, and the "Related Party Transaction Management System" inexecuting the approval process for related transactions. Before submissionto the Board of Directors for review, independent directors hold dedicatedmeetings to provide their opinions. Related parties are required to abstainfrom voting during the deliberation processes of Board and shareholders'meeting deliberation processes to ensure that related transactions areconducted fairly, justly, openly, and equitably, fully protecting the interests ofminority shareholders.

According to the provisions of the Company's Articles of Association,directors, supervisors, and senior management owe a duty of loyalty to thecompany. Without the consent of the shareholders' meeting, they are notallowed to exploit their positions for their own or others' bene?t by seekingbusiness opportunities that rightfully belong to the company or engagingin self-operated businesses or similar ventures to those of the company.Directors, supervisors, and senior management are obligated to reportany situations where their interests con?ict or may potentially con?ictwith those of the company. They must follow relevant laws, regulations,and internal policies to ensure that their ability to perform their duties isnot compromised by any con?icts of interest arising from other positions,activities, or relationships.

We fully respect and treat all investors equally. We have established the "Investor Relations Management System" and strictly adhere to relevant laws and regulations, as well as internal managementsystems such as the "Information Disclosure A?airs Management System," and "Corporate Bond Information Disclosure A?airs Management System." We have established e?ective communicationchannels that satisfy requirements such as the scope and timing of information disclosure outlined in the aforementioned systems. We have also implemented strict con?dentiality mechanisms andful?lled our information disclosure obligations through appropriate channels. This ensures that company information is disclosed truthfully, accurately, completely, timely, and fairly to investors andother relevant stakeholders, enabling them to timely understand the company's situation and safeguarding their rights and interests.We have established an investor relations management mechanism to enhance communication with investors through diverse channels, fostering a better understanding of our company and ensuringthat investors can fully exercise their rights. Our Securities A?airs Department, as the dedicated investor relations management unit, is responsible for handling the daily operations of investor relations.During the reporting period, we received an A-class rating from the Shanghai Stock Exchange for 2023-2024 information disclosure and were recognized by the China Association for Public Companies(CAPCO) as the "Best Practices for 2023 Annual Report Performance Presentation. " Additionally, our Securities A?airs Department was awarded "2024 Best Practices of the o?ce of BOD of ListedCompanies " by CAPCO.

Investor Relations

Investor Hotline and Email:

We ensure the investor hotline remainsaccessible, promptly responding toinquiries and suggestions from minorityinvestors. A total of 42 questions fromminority shareholders have been answeredon the E-Interaction platform.

Institutional Investor Meetings:

In 2024, we participated in over 200online and o?ine meetings withinstitutional investors.

Earnings Presentations and Investors

Reception Days:

In 2024, we took part in the Xiamen regionalinvestor group reception day events,held three earnings presentations andthree earnings conference calls, and wererecognized as the "Best Practices for 2023Annual Report Performance Presentation."

Corporate Public Accounts and Media

Promotion:

We actively promote and report oncompany business developments andkey projects through our corporatepublic accounts, o?cial media, andmajor ?nancial media platforms. Weuse infographics and short videos tocommunicate key insights from our annualreport and sustainability report, adoptingmultiple channels to convey companyvalue and enhance brand in?uence.

A-class rating from

the Shanghai Stock Exchange for2023-2024 information disclosure

Best Practicesfor 2023 Annual ReportPerformance Presentation

2024 Best Practices of the

office of BODof Listed Companies

Physical Risk Assessment Physical Risk Management

Climate-related Risks

Current

State

20302050SSP1-1.9SSP5-8.5SSP1-1.9SSP5-8.5Floods and TyphoonsThe destruction of urban infrastructureand impact on human welfare and health,especially in coastal cities and residentialareas.Biodiversity Loss and Habitat DisplacementRisks of degradation in marine, coastal, andterrestrial ecosystems, including the loss ofbiodiversity, functionality, and protectiveservices.Sea Level RiseThe loss of human and natural systemsin low-lying coastal areas, reduction incoastal ?sheries resources, decrease inprecipitation, and rise in temperatures.Extreme HeatThe increase in temperature and theextreme heat impose stress and lead todeaths, with an increase in heat-relatedmortality and morbidity rates amongboth humans and wildlife. Food andwater security are at risk.DroughtsFreshwater scarcity, with a decrease insurface water supply for irrigation inagriculture and other human purposes.

Extreme Low Impact Low Impact Medium Impact High Impact Extreme High Impact

Physical RisksImpact PeriodMitigation Measures

Floods and TyphoonsThe destruction of urban infrastructureand impact on human welfare andhealth, especially in coastal cities andresidential areas.

Short-term, Medium-term, and Long-term

Establish a comprehensive emergency managementmechanism, formulate emergency plans, takecorresponding measures according to di?erent levelsof warnings; regularly conduct emergency drills toenhance the ability to respond to ?oods and typhoons;ensure that the company's equipment and buildingscan withstand the impact of super typhoons.Biodiversity Loss and Habitat DisplacementRisks of degradation in marine, coastal, andterrestrial ecosystems, including the loss ofbiodiversity, functionality, and protectiveservices.

Medium-term andLong-term

Take sustainable development actions and advocatefor green action concept of "Inclusive participation,co-creation and shared bene?ts," to jointly protectthe ecosystem and achieve harmonious coexistencebetween humans and nature.Sea Level RiseThe loss of human and natural systemsin low-lying coastal areas, reduction incoastal ?sheries resources, decrease inprecipitation, and rise in temperatures.

Medium-term andLong-term

Monitor meteorological and oceanic changes topromptly adjust response strategies.Extreme HeatThe increase in temperature and theextreme heat impose stress and leadto deaths, with an increase in heat-related mortality and morbidity ratesamong both humans and wildlife.Food and water security are at risk.

Short-term, Medium-term, and Long-term

Monitor temperature conditions and provide employeeswith health and safety protection in high-temperatureworking environments; upgrade equipment with heat-insulating materials to enhance heat resistance andconduct regular maintenance to proactively addressextreme heat risks.DroughtsFreshwater scarcity, with a decreasein surface water supply for irrigation inagriculture and other human purposes.

Short-term, Medium-term, and Long-term

Advocate for water conservation concept, promote water-saving appliances and technologies, and encourage allparties to take e?ective measures to reduce water wasteand improve water use e?ciency.

Transition Risk Management

Transition RisksWe combine the Net Zero Emissions by 2050 Scenario (NZE) and the StatedPolicies Scenario (STEPS) within the IEA scenario model to assess thetransition risks and opportunities for the company's development underclimate change. Corresponding strategies are formulated to enhance thestrategic resilience of the company and achieve sustainable development.According to the IEA's "World Energy Outlook" (WEO): Under Net ZeroEmissions by 2050 (NZE) Scenario, the global energy-related carbonemissions reach net zero by 2050, limiting the rise in global temperaturesto 1.5°C. Under the Stated Policies Scenario (STEPS), which considers onlyspeci?c policies already enacted or announced by governments, annualcarbon emissions from energy and industrial processes will increase from 34gigatonnes in 2020 to 36 gigatonnes in 2030, remaining at roughly the samelevel until 2050. If emissions continue along this trajectory and non-energy-related greenhouse gas emissions follow a similar trend, the temperaturewill rise by approximately 2.7℃ by 2100 (with a 50% probability). By 2050,the share of renewable energy in global electricity generation will be closeto 55%.

Transition RisksImpact PeriodMitigation Measures

Geopolitical con?ict

Short-term, Medium-term,and Long-term

Focus on key domestic regions of east, west, south, north, and central, whileaccelerating overseas market expansion and strengthening international outreache?orts to build a dual-circulation development framework that integrates domestic andinternational markets. Promote innovation in business models, enhance penetrationacross the entire industrial chain, and continuously build core competencies suchas investment and operations across the upstream and downstream of the industrialchain, key account management, and one-stop services. Leverage integrationcapabilities of resource to deepen presence throughout the industrial chain andmaintain close, mutually supportive, and trust-based strategic cooperation withindustry chain clients.

Pressure from GHG emissionreduction policies

Medium-term and Long-term

Adhere to the concept of green development, formulate net zero strategies andemission reduction targets, actively practice carbon reduction actions. Contribute tothe low-carbon or decarbonization development of the industry chain by implementingtechnology innovation, researching and developing iterative digital products, whilereducing greenhouse gas emissions generated by our own operations.

Growing market demands forsustainable products and services

Short-term, Medium-term,and Long-term

Leverage global resources and distribution channels, professional and e?ective riskmanagement capabilities, and a 5A-grade logistics distribution network, verticallyexpand the industry chain upstream and downstream, and horizontally enrich supplychain service to provide customers with customized, integrated supply chain servicesolutions. Continuously enhance the innovation vitality of the industry chain, andfacilitate business growth.

Demands for clean technologyinnovation and energy transition

Medium-term and Long-term

Continuously advance digitalization strategy by innovating with technology,researching and developing iterative digital products, empowering the industry chainto achieve green transformation. Accelerate expansion into new ?elds such as newenergy, new materials, information technology, and life sciences. Actively explore newenergy materials business such as cobalt and lithium.

Greenhouse gas emissions308,043.93tCO

eThe greenhouse gas emission intensity

86.91

tCO

e/per hundred million RMB

GHG Emissions

CO

Category202220232024

Scope 1: Direct Emissions

（Unit：tCO

e）

63,177.34114,173.40 95,209.19Scope 2: Indirect Emissions（Unit：tCO

e）

183,283.14242,920.21 212,834.74Total（Unit：tCO

e）

246,460.48357,093.61 308,043.93GHG Emission Intensity(tCO

e /hundred-million RMB of operating revenue)

47.2276.26 86.91

GHG Emissions in 2024

50,000.00100,000.00150,000.00200,000.00250,000.00300,000.0090

Unit：tCO

e

Unit：tCO

e /hundred-million RMBof operating revenue

Scope 1: Direct Emissions Scope 2:Indirect Emissions

114,173.40183,283.14

212,834.74242,920.21

202320222024

63,177.34

GHG Emissions Management

Ratio of Scope 1 to Scope 2 GHG emissions

Energy indirect greenhouse gas emissions

212,834.74

tCO

e

Direct greenhouse gas emissions95,209.19

tCO

e

30.91%

69.09%

GHG Types

Emission Factors

Seven types of greenhouse gases: carbon dioxide (CO

), methane (CH

), nitrous oxide (N

O),hydro?uorocarbons (HFCs), per?uorocarbons (PFCs), sulfur hexa?uoride (SF

), and nitrogen tri?uoride (NF

).

For di?erent emission sources under Scope 1 and Scope 2, we select appropriate emission factors for GHGemissions calculation based on the 2006 IPCC Guidelines for National Greenhouse Gas Inventories, theGeneral Rules for Calculation of the Comprehensive Energy Consumption (GB/T 2589-2020), and the 2022electricity emission factor released by the Ministry of Ecology and Environment.

95,209.19

47.22

76.26

86.91

During the reporting period, our total energy consumption wasapproximately 95,048.16 tons of coal equivalent. In terms of energyconsumption structure, electricity and marine fuel accounted forthe largest share, making up approximately 85.07% of total energyconsumption. Regarding greenhouse gas emissions from energyconsumption, emissions from electricity consumption were themost signi?cant, accounting for 58.57% of the total greenhouse gasemissions generated from annual energy consumption.

Energy Usage

Energy Type

Energy Consumption

in 2024

Energy Consumption

in 2023

Energy Consumption

in 2022

Total comprehensiveenergy consumption(tons of coalequivalent) in 2024

Total comprehensiveenergy consumption

(tons of coalequivalent) in 2023

Total comprehensiveenergy consumption

(tons of coalequivalent) in 2022

Energy consumption

percentage (%) in

2024

Electricity(kWh)336,257,778.45342,095,277.67271,331,451.2041,326.0842,043.5133,346.6443.48%Marine Fuel（t）27,688.4928,432.67/39,527.2140,618.91/41.59%

Steam（t）94,244.71139,112.8174,541.458,924.9713,173.987,059.089.39%Diesel（L）2,457,662.268,156,804.168,346,273.393,079.7110,221.3510,458.763.24%Natural Gas（m?）1,180,465.381,169,092.15/1,570.021,554.89/1.64%

Gasoline（L）571,693.83433,068.61/614.07465.17/0.65%Lique?ed PetroleumGas(kg）

3,560.6011,120.104,268.806.1019.067.320.01%Thermal Coal（t）010,007.038,012.8407,148.025,723.570.00%

Total95,048.16115,244.8956,595.37100%

Energy Structure

Electricity

43.48%

Marine Fuel

41.59%

Steam

9.39%

Diesel

3.24%

Natural Gas

1.64%

Gasoline

0.65%

Lique?ed Petroleum Gas

0.01%

Thermal Coal

0.00%

Our total energy consumptionwas approximately95,048.16

tons of coal equivalentElectricity and marine fuel accounted

85.07%

Emissions from Electricity Consumption

58.57%

GHG Emission Reduction ActionsDesigning Sustainable ProductsWe integrate digital-intelligent products with green development and fullproduct lifecycle concepts into our integrated supply chain services throughtechnological innovation, providing comprehensive industrial servicesfor upstream and downstream partners. This not only e?ectively reducesgreenhouse gas emissions from our own operations but also contributes to thelow-carbon or decarbonized development of the industry chain.

"ITG Carbon Chain" Smart Energy and Carbon Management Platform Applied toEnergy Consumption Statistics in Factory

Carbon Emission Management Dashboard at "ITG Carbon Chain" Smart Energyand Carbon Management PlatformCarbon Emission Statistics at "ITG Carbon Chain" Smart Energy and Carbon Management Platform

"ITG Carbon Chain" Smart Energy and Carbon Management Platform

The "ITG Carbon Chain" Smart Energy and Carbon Management Platform is built on the Zero-Carbon Industrial Internet Platform independently developed by XiamenKeerun OCSMARTER, a subsidiary of our company. It can collect multi-dimensional energy and carbon emission data in real-time, construct energy and carbon emissionmodels, and enable smart energy and carbon management across various scenarios. It provides technological support for e?cient carbon accounting and precise energy-saving and carbon-reduction e?orts. "ITG Carbon Chain" o?ers an e?ective solution for balancing environmental and economic bene?ts within the supply chain andindustry chain. By leveraging mature carbon management solutions, it drives production process optimization, reduces production costs, improves resource utilizatione?ciency, and achieves a comprehensive transformation toward carbon neutrality, thereby enhancing industry competitiveness and sustainable development capabilities.In carbon emission management, the "ITG Carbon Chain" helps users identify their primary sources of carbon emissions, consolidate and analyze carbon footprint data,and generate an overall carbon management overview. In energy management, "ITG Carbon Chain" collects data on various energy sources, including electricity, heat,cooling, oil, gas, and water, enhancing enterprises' digitalization and precision in energy management. Currently, the "ITG Carbon Chain" Smart Energy and CarbonManagement Platform has been applied to multiple projects and business scenarios, including the Keerun Tire (Rizhao) and Zhonghong Kelun Pharmaceutical Factory.

Ecosystem andBiodiversity Protection

We respect international agreements such as the "United Nations Conference on the Human Environment" and the "United Nations Framework Convention on Climate Change," and strictlyobserve relevant environmental protection laws and regulations, including the "Environmental Protection Law of the People's Republic of China," the "Law of the People's Republic of Chinaon the Protection of Wildlife," and the "Regulations of the People's Republic of China on Wild Plants Protection." We have developed an "Environmental Protection Policy" and continuouslyimprove our full-cycle environmental management system. We incorporate ecological and environmental impact factors into our scienti?c assessment and decision-making processesthroughout stages of project investment, planning, design, development, construction, and operational management. We avoid carrying out activities that could damage ecological functionsin important ecological protection areas, such as World Heritage Sites and areas listed on the IUCN Red List of Threatened Species, and nearby areas. We are committed to safeguarding theecological security and biodiversity of the regions where we operate.

1.2

[Highlight] ｜Slope Greening of Mining Area in Chuanbi IslandNingbo Zhencheng Mining, a subsidiary of our company, sticks to the development philosophy of "Safety, EnvironmentalProtection, Green, and E?ciency." In the Chuanbi Island mining area, the company has fully promoted slope greening andecological restoration to ensure coordinated development between mining operations and the ecological environment.The company has developed a systematic management plan based on the geological conditions of the mining area, andimplemented phased slope ecological restoration measures, ensuring the sound results and long-term stability of the e?orts.In the vegetation restoration process, the company has selected herbaceous and shrub plants with well-developed rootsystems that are adapted to local growth conditions. By optimizing the hydroseeding mixture, the company has improvedplant survival rates, promoted ecosystem restoration, and enhanced slope stability.As of December 31, 2024, the Chuanbi Island mining area has completed greening over an area of 64,000 squaremeters, achieving a vegetation coverage rate of 85%. Soil erosion in the mining area has been e?ectively controlled, andthe ecological functions are gradually recovering, with biodiversity showing a positive development trend. Additionally, thecompany has established a long-term ecological monitoring mechanism, regularly conducting evaluations of slope stability,vegetation growth, and soil and water conservation e?ectiveness to ensure the long-term stability of the restoration andremediation results.

Mining Area in Chuanbi Island

Water ResourcesConservation

We consistently adhere to a green development and sustainablebusiness strategy, strictly complying with water resource protectionlaws and regulations such as the "Water Law of the People'sRepublic of China" and the "Water Pollution Prevention and ControlLaw of the People's Republic of China."In our business operations, we rely on modern data monitoring andintelligent management methods to improve our water resourcemanagement system, ensuring the e?cient utilization and scienti?callocation of water resources. We focus on risk control and re?nedoperations, continually advancing upgrades of water-savingtechnology and optimizing management processes to e?ectivelyreduce the negative impact of our production activities on thewater ecological environment, thereby ful?lling our environmentalresponsibilities.In our daily operations, we promote the application of water-e?cient equipment, implement classi?ed management for waterusage in o?ces, commercial spaces, and residential areas, andprioritize the incorporation of high-e?ciency water-saving facilitiesduring the planning phase of new and renovation projects. The ITGCenter, headquarters of our company, is a prime example whichfollows a sustainable design concept and has received a nationaltwo-star green building certi?cation. It fully integrated requirementsfor energy conservation, water saving, and material reduction fromthe initial design stage, con?guring a high-standard HVAC systemand a rainwater collection and reuse network, achieving signi?cantwater-saving results.

1.3

[Highlight] ｜Recycling of Sand Washing Wastewater in Mining AreaOur subsidiary, Ningbo Zhencheng Mining, is promoting the e?cient recycling of sand washing wastewaterto enhance water resource utilization. This initiative aims to increase water resource utilization, reducethe consumption of fresh water, and minimize environmental impact. The company has established acomprehensive wastewater collection and reuse system. All sludge and wastewater are collected and processedat the sewage treatment plant before being reused in wet processing and dust suppression operations.Wastewater generated from cleaning workshop ?oors and equipment is collected through open channels andsent to the sewage treatment plant. After treatment, the water is reused. Domestic wastewater is also treatedby the existing sewage treatment facilities in the mining area and is then used for production purposes, furtherreducing emissions. The project processing lines are surrounded by drainage ditches, and initial rainwateris treated in a sedimentation tank before being reused in the production process. Additionally, the companyhas installed automatic car wash machines in the washing station, utilizing water recycling technology fore?cient water reuse. The gantry car wash machine alone saves approximately 12,000 tons of water annually,reducing water consumption and improving washing e?ciency, while also reducing dust pollution on site. In2024, the total water consumption of the mining area was 1,079,665 tons, with 647,799 tons of sand washingwastewater being reused, achieving a water resource recycling rate of 60%.

Ningbo Zhencheng Mining Automatic Car Wash Machines

Pollutant Discharge

We strictly adhere to the "Air Pollution Prevention and Control Lawof the People's Republic of China," "Water Pollution Preventionand Control Law of the People's Republic of China," "Soil PollutionPrevention and Control Law of the People's Republic of China,""Law of the People's Republic of China on the Prevention andControl of Noise Pollution," "Law of the People's Republic of Chinaon the Prevention and Control of Environmental Pollution by SolidWastes," and other relevant laws and regulations of the operatingregions. We have developed an "Environmental Protection Policy"to strictly control the generation and discharge of wastewater, wastegases, noise, and solid waste during production and operations,minimizing the environmental impact of our business activities.

1.5

Waste Gas Management

The air pollutants generated during our production and operations primarily include non-methane hydrocarbons, suspendedparticulate matter, nitrogen oxides, and sulfur oxides. These emissions mainly originate from the rubber mixing andvulcanization workshops of our subsidiaries, Keerun Tire (Dezhou) and Keerun Tire (Rizhao), during processes such as rubbermixing, bead manufacturing, cord calendering, belt layer production, sidewall and tread extrusion, and tire vulcanization.Keerun Tire (Rizhao) strictly adheres to national and local environmental regulations being a key environmental supervisionunit in Rizhao, Shandong Province in 2024, The plant has 14 air pollutant discharge outlets, with major outlets equipped withautomated monitoring systems that transmit real-time data to local environmental authorities, ensuring transparency andregulatory compliance.The plant employs advanced treatment technologies to enhance air pollution control, including baghouse ?ltration, cotton?ltration, electrostatic oil removal, zeolite adsorption, CO catalytic combustion, and a combination of SNCR denitri?cation,multi-tube wet dust removal, and desulfurization towers. During the reporting period, the company engaged a certi?ed third-party agency for monthly air quality testing to ensure compliance with national and local emission standards. Data from the

Waste Gas Treatment Facilities in Keerun Tire(Rizhao)

Air Pollution Control Facilities in Keerun Tire (Dezhou)

environmental authorities' automated monitoring system showed that in 2024, the plant's average daily concentration of keyair pollutants (non-methane hydrocarbons) was 0.64mg/Nm?, signi?cantly below the permitted limit of 10mg/Nm?, with norecorded exceedances.Keerun Tire (Dezhou) adopts a combination of activated carbon adsorption and ?lter cotton to treat stationary sourceemissions, e?ectively reducing exhaust emissions. The company engages a quali?ed third-party testing agency to conductcomprehensive testing of stationary source emissions (including total non-methane hydrocarbons) and fugitive emissions(including total non-methane hydrocarbons, particulate matter, etc.) and to issue testing reports.

CategoryTested Item

EmissionMethod

Daily AverageEmissionConcentration

PermittedEmissionConcentration

Exceedance

EmissionVolume (tons)

PermittedAnnualEmissionVolumeWaste Gas

NMHCsAfter- treatment0.64mg/Nm?10 mg/Nm

None0.07347/

The Main Air Pollutants of Keerun Tire (Rizhao) in 2024:

About This Report Message from the Chairman Brand Philosophy Management of Material Matters Communications with Stakeholders Sustainability-Related Governance Environment Society Governance Index

Green Development ofthe "Forest-Pulp-Paper"Industry

Utilization of Used Cooking Oil

Promotion of Green Fiber Materials

We integrate industry chain resources to provide comprehensive, one-stop supply chain services for industrialclients, transforming the linear "forest-pulp-paper" supply chain into a networked service system to foster thegreen and high-quality development of the forest-pulp-paper industry.

Used Cooking Oil (UCO) is primarily derived from waste oils and fats from thekitchen and restaurant. As a feedstock, UCO can be converted into biodiesel orother renewable fuel sources, signi?cantly reducing harmful emissions such assulfur dioxide and particulate matter during combustion. This contributes toimproved air quality and lower greenhouse gas emissions.We engage in the clean energy sector, managing UCO (Used Cooking Oil) andsupplying it to biodiesel plants, which promotes resource recycling whilereducing the negative environmental impact of kitchen waste oils.

We operate in the Lyocell ?ber business, a green ?ber derived from renewablewood sources such as eucalyptus and pine through physical dissolution anda closed-loop production process. Its manufacturing process uses the non-toxic organic solvent NMMO (N-Methylmorpholine-N-Oxide), which can berepeatedly recycled, achieving near-zero pollution emissions. Lyocell combinesthe moisture-wicking, breathability, and softness of natural ?bers with thestrength and drape of synthetic ?bers. It is also fully biodegradable, earning itthe reputation of being the "green ?ber of the 21st century. " As an eco-friendlychoice for the fast fashion industry, Lyocell is widely used in apparel, hometextiles, and other ?elds.

In the upstream industry, we prioritize theprocurement of sustainable wood, suchas plantation forests in New Zealand andplanned reforestation projects in Europeand North America. These certi?ed orwell-managed forests follow ecologicallogging plans, ensuring timely replantingand regeneration. We also collaboratewith major wood processing suppliersto maximize resource e?ciency throughoptimized production and grading, therebycontributing to forest conservation.

In the downstream industry, we strengthencooperation with paper mills and recyclingstations to develop recycled paper andreclaimed wood ?ber businesses forapplications such as cardboard andcat trees, advancing circular resourceutilization. During the reporting period,we sold over 1.9 million tons of recycled?nished paper, reducing deforestationby approximately 19.65 million trees andprotecting around 1,141 square kilometersof forest.

In the midstream industry,we engagein the trade of chemi-mechanical pulp,which o?ers higher ?ber utilizationand generates only one-quarter of thepollutants compared to traditionalchemical pulping methods. We supplybagasse pulp and bamboo pulp formolded ?ber products, promotingplastic substitution to reduce plasticproduction and usage. By strategicallyinvesting in green pulp markets, wesupport the molded ?ber industry withbagasse pulp sourced from sugarcanewaste, minimizing tree felling.

Sustainable Wood ProcurementGreen Pulp AlternativeUtilization of Renewable Resources

Innovation-drivenDevelopment

We focus on customer-centricity and a full-industry chain operation,innovating and upgrading the "three-chain integration" strategyof supply chain, industry chain, and value chain. By focusing onkey terms such as "connecting the global chain, empoweringwith digital intelligence, green and low-carbon, high value-addedservices, and high-level opening up," we drive innovation throughbusiness model changes, technological advancements, anddigital intelligence. Our aim is to create customized, integratedsupply chain service solutions, consolidating extensive andmultidimensional resources for partners across the industry chain.This will enhance the quality and e?ciency of the industry chain,empower upward development and ecological collaboration, builda resilient foundation for the industry and society, and create andnurture new industry value.

We have established the ITG Supply Chain IndustrialResearch Institute as a new platform for integrated supplychain research and development. The institute focuses oncombining supply chain practice with theoretical researchand application. The Research Institute, by e?cientlyconnecting internal and external resources, continuouslyenhancing research and development capabilities, andoptimizing the R&D service system, focuses on creatingspecialized, re?ned, distinctive, and innovative R&D productsand services. This will empower business development toimprove quality and e?ciency, support the advancement ofour international strategy, cultivate new growth drivers forthe future, and generate practical bene?ts for the company's"three-chain integration" transformation and upgrade,contributing to high-quality development.To strengthen internal and external collaboration amongR&D functions and drive the development of our R&Dinnovation support strategy along with business andinvestment expansion, we have established a collaborativeR&D management mechanism. This aims to promoteresource integration and the sharing of R&D achievements.2024 Management GoalsCompletion Status

Continue to advance technological innovation and digital development, withthe addition of no less than 30 new intellectual property rights and research anddevelopment investment of no less than 50 million RMB throughout the year.

No incidents of infringing on others' intellectual property rights occurredthroughout the year.

R&D and Innovation Support

2.2

At the company level, we have formed an R&D CoordinationLeadership Group responsible for leading, overseeing, andguiding R&D collaboration e?orts, regularly monitoringprogress and results. At the operational level, we establishspeci?c R&D collaborative work groups based on practicalneeds to handle tasks such as R&D consultation, thematicresearch, and other daily R&D activities. As the R&Dcoordination management department, the institutecontinuously improves the R&D system, coordinates andguides R&D activities across departments and subsidiaries,and ensures the e?cient sharing and allocation of R&Dresources. We continue to enhance our comprehensiveresearch and analysis of international new markets, emergingindustries, and new business models, deepening researchin emerging ?elds and upgrading traditional industries, thussupporting business and investment decision-making.During the reporting period, our total R&D investmentamounted to 86.91million RMB, accounting for 0.03%of the main business revenue. As of the end of thereporting period, the number of R&D personnel was 171,representing 2.47% of the total number of employees.

Our total R&D investment amounted

86.91

million RMB

The number of R&D

personnel

Total number of employees

2.47%

CompletedIn Progress

We regard technological innovation as a key driving force, continuously investingin the exploration and development of new products and technologies. Throughresearch and development, we consistently expand our product lines, enhanceour market presence, and empower business services, contributing to theoptimization and e?ciency of the industrial chain.

Technological Innovation

[Highlight] ｜Innovation in Surgical Stapler ProductsUnder the health technology business, Panther Medical, as a representative domestic brand of staplers, continues toincrease R&D investment and leverage its technological advantages, achieving continuous technological innovationsin stapler products. Panther Medical's R&D has developed an intelligent endoscopic stapler that integrates electricoperation and advanced functional modules, ensuring precise stapling while signi?cantly enhancing the reliability ofclinical applications. During the reporting period, Panther Medical successfully developed the next-generation fullyelectric intelligent stapler and fully launched the national key R&D plan, "Domestic Innovative Medical Electric StaplerApplication Demonstration Project." The company obtained 3 domestic authorized invention patents, 1 U.S. patent,and 1 European patent, and was recognized in the MDI-China "2024 Top 100 in R&D Comprehensive Strength" and"Top 50 in Medical Consumables R&D Strength."

Panther MedicalDomestic authorizedinvention patents

pieceU.S. patent

pieceEuropean patent

pieceIn volumetric measurement of large outdoor bulk stockpiles, wehave achieved fast and accurate volume measurement by adoptinghandheld LiDAR technology and generating high-precision 3Dmodels using laser point clouds. Leveraging handheld lasermapping technology, we have successfully overcome the challengesof measuring the volume of bulk materials both indoors and inoutdoor conical piles. This technology e?ciently meets the rapidmeasurement needs of bulk stockpiles in various indoor and outdoorscenarios. Moreover, we have extracted critical insights such as cargoclassi?cation and inventory tracking by assessing vast amountsof scanned data. This data-driven approach provides intelligentdecision-making support for warehouse management, signi?cantlyimproving e?ciency and accuracy in storage operations.

[Highlight] ｜Innovation in Handheld Laser Mapping Technology

We uphold the mission of "Integrate Industry to Connect, Create Value to Share." and the core values of"Leadership, Responsibility, Hardworking, Partnership." We focus on our core business of supply chainmanagement while actively expanding into emerging health technology sectors.Safety and Quality of Products and Services

The supply chain management business is our key pillar,consistently maintaining its position in the top tier of the industry.We operate eight vertical industry chains—metallurgy, energy &chemicals, textiles, non-ferrous metals, pulp & paper, agriculturalproducts, rubber, and new energy—along with universal solutionsrepresented by logistics and digital technology. Through our"ITG Solutions" comprehensive industry services, we provideintegrated support to our clients. We have pioneered the "Three-Chain Integration" strategy, combining supply chains, industrialchains, and value chains to drive continuous business evolutionand sustained value creation.

We integrate resources through an innovative development modeland leverage technology to empower our business, establishinga "1+3" healthcare sector framework. This focuses on medicaldevices as our core business while supporting three key industries:

elderly care services, healthcare big data, and health services.Relying on ?ve capability centers, we are building a comprehensivehealthcare ecosystem that connects enterprises, society, andgovernment. Our main business covers the distribution and servicingof medical devices, while we actively expand into R&D, manufacturing,and sales , and drive the expansion of the healthcare industry throughstrategic mergers and acquisitions. In response to the government'scall to "proactively address population aging," we are also developingthe elderly care industry, providing integrated medical, elderly care,rehabilitation, and nursing services to enhance the quality of life forseniors.

We adhere to a customer-centric approach by strengthening credit and riskmanagement through policies such as the "Interim Measures for CustomerNegative List Management" and the "Grey List Management Handbook," therebyenhancing our customer management system. We have established transparentappeal channels and e?cient resolution processes, covering business liaison,management communication, risk control coordination, and documentationsupport. Additionally, we provide publicly accessible contact numbers, emailaddresses, and a Chairman's mailbox to ensure service quality, guaranteeingthat customer complaints and feedback receive timely responses and properresolution, thereby fully safeguarding customer rights.

We strictly comply with relevant laws and regulations and have established the"News and Publicity Management Measures" and the "New Media ManagementMeasures." Adhering to the principles of "review before publication" and "case-by-case approval," we implement a stringent "three-tier review system" forpublicity content. We are committed to disseminating truthful, accurate, andethically sound information to enhance the market in?uence of our corporatebrand.

Customer Service

Responsible Marketing

Supply Chain Management:Health Technology:

We collect feedback and opinions from employees on the implementation ofinformation security management systems through surveys, interviews, andother methods. We also regularly invite external independent cybersecurityexperts to review and assess the rationality and e?ectiveness of the networksecurity management system, strengthening information security management.We enhance network security risk assessment, monitoring, and responsethrough the following regular management measures to ensure informationsecurity:

Information Security Risk Management

In 2024, we completed security assessments for 14 systems, including theProject Management System, Financial Shared Center, Health Technologyand Elderly Care System, and Business Overview Table System.Conducted classi?ed protection assessments for the SecurityManagement Platform and the Phosphorus Source Smart System ofHubei Guofa, and ?xed the issues identi?ed during the assessment.

Daily security checks based on alerts from the "Security SituationAwareness System," investigating and handling suspectedcompromised hosts and abnormal attacks. Monitored the tamper-proof status of vulnerable portal websites and submitted daily securityinspection reports.Weekly, we commissioned security service vendors to assist with on-site inspections of risk issues identi?ed by the "Security SituationAwareness System" and optimized improvements based on theirsuggestions.Bi-weekly, performed WEB vulnerability scans on externally exposedwebsites' URLs. High-risk vulnerabilities were promptly addressed toprevent exploitation that could lead to network intrusions and dataleakage.Quarterly, conducted host security vulnerability scans, addressingmedium and high-risk vulnerabilities, and regularly followed up onvulnerability resolution progress.Every year, we regularly commission external security service vendorsto conduct red team testing on our company's internet applicationwebsites. By simulating hacker behaviors and techniques, penetrationtesting is carried out to identify security vulnerabilities andweaknesses within the internet application systems. This helps assessthe security and defense capabilities of the systems. Any mediumto high-risk vulnerabilities identi?ed are promptly addressed andrepaired, ensuring the stable and secure operation of the systems.

Quarterly, collaborate with security service vendors to conduct securityequipment inspections.At least once per quarter, perform con?guration backups of securityequipment to ensure the safety of con?guration data.

Commission external organizations to carry out IT audits. The audititems include checking the account permissions, password policies,backup strategies, and data recovery testing for the company's majorinformation systems; the e?ectiveness of key security managementdevices or software and their self-inspection and inspection results; thereporting and handling of information technology faults or issues; andthe execution and e?ectiveness of information security emergency plans.

During the 2024 Spring Festival, National People's Congress andChinese People's Political Consultative Conference sessions, May Day,Dragon Boat Festival, Mid-Autumn Festival, China International Fair forInvestment & Trade, Cybersecurity Protection Campaign, and NationalDay holidays, we activated the Sangfor Technologies's Managed SecurityService and commissioned security service vendors for on-site duty.

Conducted information system security assessments and optimizedthe information system security protection system:

Regularly conduct data center and equipment inspections:

Conduct network security protection during key annual periods:

Regular IT audits:

Regularly conducted network security inspections to promptlyidentify and assess network security risks:

Encourage employees to report or provide feedback on anyinformation security issues to their direct supervisors or theDigital Management Department, and monitor internal employeefeedback on network security risk issues daily.We organized emergency drills for several application systems, including the company's paperless archiving system, North-South system, email security gateway,and ?nancial shared services center.Conduct emergency drills for Sangfor Technologies export ?rewalls, H3C core switches, and H3C authentication systems, and promptly address any issuesidenti?ed during the drills.

Collaborate with the Digital Management Department, security service providers, and the Human Resources Department to o?er a networksecurity training titled "Enhancing Network Security Awareness and Strengthening the Company's Network Security Foundation" for allemployees. The course content includes email security, AI security, practical attack and defense, ransomware, and safe internet usage.During Cybersecurity Awareness Week, distribute articles on security awareness such as" Personal Information Protection" to all employees.Additionally, play cybersecurity awareness videos on the company o?ce ?oor's front desk TV, promoting cybersecurity knowledge to allemployees.In response to phishing and scam email incidents, push 17 security noti?cation reminders and security knowledge articles to all employeesthrough the "i-ITG" network security WeChat public account and internal network news. This helps employees identify and prevent dangerousemails, ensuring that they thoroughly understand and e?ectively implement information security management policies and standards, andcan promptly detect and respond to potential information security threats.

Network Security Training

Establish reporting and feedback channels:

Organize irregular emergency drills to ensure a swift and e?ective response in the event of information security incidents:

Regularly conduct information security training to continuously strengthen information security education and awareness:

[Highlight] ｜China-Indonesia Collaboration in the Nickel Chain[Highlight] ｜ Innovation Driven by Industry Think TankOn June 24, 2024, the ITG Supply Chain Industrial Research Institutewas o?cially established. As a new platform for the integratedresearch and development of ITG Supply Chain, the institute focuseson creating professional, re?ned, distinctive, and innovative researchand product services. Its services cover a wide range of areas,including macro strategy, industry research, model innovation, andmarket strategies. By e?ciently connecting internal and externalresources, the institute continually enhances its R&D capabilities,empowering the high-quality development of the company and thedeepening of its international strategy.

The inauguration of the ITG Supply Chain Industry Research Institute

[Highlight] ｜Advancement through Three Chains IntegrationFrom September 8 to 11, 2024, the "5th China Supply ChainManagement Annual Meeting" was held in Xiamen, organized bythe China Federation of Logistics & Purchasing. As a long-termsupporting entity of the event, Xiamen ITG Group showcasedits innovations in supply chain business under the theme"New Quality Driven, Three Chains Integration." The groupdemonstrated its achievements and industry insights acrossthree dimensions: supply chain, industry chain, and value chain.At the exhibition, Xiamen ITG Group shared several industryservice cases, including integrated services in the pulp andpaper industry chain, transformation of the textile industry chainfor overseas markets, integrated operations in the aluminumindustry chain, and innovative models for coal imports. Thesediscussions provided a deep dive into the challenges faced byindustry chains and showcased how the group helps partnerssolve key pain points and build sustainable operational models.Xiamen ITG Group adheres to the development philosophy of"integrating logistics and trade." By focusing on strategic logistics hubs, it has constructed a highly e?cient and seamless international trade logistics system.Through the establishment of its own woodchip ?eet, chemical tanker ?eet, the development of unique shipping routes, and the operation of ?oating oilstorage vessels, the group has successfully opened up both domestic and international logistics channels. This robust logistics support continues to enhancethe group's integrated supply chain services, positioning it as a leader in industry innovation and development.

Demonstrating the Core Architecture of Industrial Chains via 3D Printing Technology

[Highlight] ｜Green Transformation in Pulp and Paper IndustryOn November 12, 2024, the "2024 China PulpMarket Symposium" was successfully heldin Nanchang, organized by the China PaperAssociation, with ITG Pulp and Paper and theChina Paper Association and Commercial PulpCommittee as the hosts. Leveraging years ofexperience in the pulp and paper industry andits integrated supply chain services, ITG Pulpand Paper, together with industry partners,relevant associations, scholars, and expertsfrom consulting institutions, gathered nearly800 industry elites to participate in the event.The forum aimed to create a high-level dialogueplatform for the pulp and paper industry,promoting communication and developmentacross the industry chain. During the forum,guests provided in-depth analyses on topics suchas the current supply-demand situation andtrends in the paper raw materials market, thenew development patterns of pulp derivatives,and the impact of green development strategieson the pulp industry.

[Highlight] ｜ Green Innovation in Iron Ore Industry

From December 3 to 5, 2024, the 15th Ferrous Derivatives Summit was held, hosted by the Metallurgical IndustryBranch of China Council for the Promotion of International Trade and Shanghai Ganglian E-commerce Holdings Co.,Ltd., with support from Xiamen ITG Group and Fujian Sangang (Group) Co., Ltd. The event, themed "Green Innovationand Shared Prosperity," brought together over 1,000 industry partners, experts, and scholars from around the worldto explore how the ferrous metals market can achieve transformation and upgrading through green innovationand collaboration, while embracing a new future for the industry and market. During the event, Xiamen ITG Groupreceived recognition and praise for its excellent operational management e?ciency, integrity-based businessphilosophy, and win-win development model, earning two awards: "2024 (7th) Long-term Trusted Service Providerfor Iron Ore" and "2024 Mysteel Iron Ore Long-Term Spot Price Index Integrity Pricing Unit."

2024 China Pulp Market Symposium

The 15th Ferrous Derivatives Summit

2024 Best Employer Brand AwardsThe "Employment Internship Base" Program ofXiamen ITG Group and Xiamen University wasrecognized as a Examplary Case under the Ministryof Education's Supply-Demand Alignment andEmployment Education Project

Examplary Case

Ministry of Education

"Internationalized Talent Program" won theGold Award at the 9th CSTD Corporate LearningDesign Competition

Golden AwardChinese Society for Talent Development (CSTD)Chinese Society for Talent Development (CSTD)

"ITG Flourish" New Employee Training Camp

won the Boao Award forBest Digital & Intelligent Learning Practice

online-edu

Best EmployerCHIRC

"Internationalized Talent Program" won theBranded Learning Program Design Award

Training MagazineYuntu Awards

Typical Enterprise for a Happy Workplace

Innovative Human Resource

Management Enterprise

CHIRC

"New Talent Program" won theBest Elite Talent Development AwardChina Contextualized Learning Committee

"Talent Development System" won the Yuntu

Excellence Award for Digital CorporateLearning & Organizational Activation

Yuntu Awards

2024 Best Practice Award forPerformance Improvement

Annual ExtraordinaryEmployer in FujianLiepin.com

"New Talent Program" won the"2023-2024 Best Digital Learning Project forFuture Leadership Development" Award

CEIBS Business Online

Asia's Best Workplace (Mainland China) -

Healthiest Employer AwardAIA, Peking University School of Public Health, HR?ag

Best Employer in XiamenZhaopin.com

"4321" Talent Development System won theLighthouse Award for Outstanding Enterprisein Organizational Development

Outstanding Enterprise

"Lighthouse Program" won the YuntuGold Award for Digital CorporateLearning and Talent Development

Shanghai Service Federation, Shanghai ServiceIndustries Development & Research Foundation

International Society for PerformanceImprovement, Training Magazine, and SINOTRAC

We adhere to the "Universal Declaration of Human Rights", the "United Nations Guiding Principles on Business and Human Rights", and the "ILO Declaration on Fundamental Principles andRights at Work". In strict compliance with the "Labor Law of the People's Republic of China", the "Labor Contract Law of the People's Republic of China", and relevant labor rights protection lawsand regulations in the regions where we operate, we have established the "Labor Rights Protection Policy". This policy applies to the company, all entities under its full ?nancial and operationalcontrol, and all employees, including those of contractors. It is designed to fully safeguard employees' fundamental rights, including human rights and occupational health, while ensuringcomprehensive training programs and fair career development opportunities to support the sustainable development of our human capital. We also encourage our suppliers, business partners,and other stakeholders to align with and implement the principles and requirements set forth in our "Labor Rights Protection Policy".During the reporting period, we strictly adhered to "Labor Rights Protection Policy" and all internal regulations related to employee hiring and treatment. No penalties were imposed on us forviolations of labor rights protection laws and regulations in our operating regions.

Human Rights Protection

We are committed to protecting the rights and interests of ourfemale employees by ensuring equal pay for equal work andstrictly prohibiting gender discrimination. We have signed a"Special Collective Agreement on the Protection of FemaleWorkers' Interests", which guarantees female employees' rightsto maternity leave, parental leave, breastfeeding leave, andchildcare leave. We continuously enhance bene?ts for femaleemployees, including the establishment of nursing rooms, theprovision of one-on-one health consultations, and personalizedhealth assessments and treatment plans. We strive to createa work environment that respects the unique needs of femaleemployees while supporting a balance between their professionaland personal lives by o?ering special labor protections.

We ?rmly oppose all forms of forced labor, child labor,slavery, servitude, and human tra?cking. Our "EmployeeRecruitment Measures" and the "Guidelines for RiskControl of Labor Outsourcing, Labor Dispatching Units andSecondment (Trial)" explicitly de?ne the minimum agerequirements for both direct hires and outsourced workers.We conduct rigorous age veri?cation during the recruitmentprocess to ensure strict compliance with relevant laws andregulations regarding the minimum working age.During the reporting period, there were no risks of child laboror forced labor in any of our operating regions. Additionally,we did not experience any incidents involving theemployment of child labor, the hiring of minors for hazardouswork, or forced labor in any form.

Protection of Women's Rights in theWorkplace

Prohibition of Forced Labor and ChildLabor

Mother's Room at Shanghai HeadquartersEmployee Health Program in Mother's Day"Pioneering Women's Power" Initiative

We respect the democratic rights and freedom of expression granted to employees under the Constitution andapplicable laws, ensuring their rights to information, participation, expression, and supervision. We activelypromote employee communication through collective consultation and mediation mechanisms, providingdiverse channels for employees to voice their opinions and concerns. When formulating, amending, negotiating,or deciding on policies that a?ect employee rights, we fully solicit input from employee representatives. Tosafeguard employees' democratic rights, we have signed the "Collective Agreement", the "Special CollectiveAgreement for the Protection of Female Workers' Interests", and the "Wage Collective Agreement". In 2024, weorganized democratic management training sessions to help employees better understand how labor unionsoperate and how to e?ectively exercise their democratic rights.

Employee Communication

Democratic Management Training

We conduct democratic evaluations to gain insights into employees'expectations regarding career development, occupational health, compensation,and bene?ts. These evaluations help us e?ectively manage potential humanrights risks such as workplace discrimination, harassment, and excessiveworkloads. Based on the survey ?ndings, we take proactive measures toprevent and address concerns, fostering a more inclusive, healthy, and diversework environment. During the reporting period, we conducted an employeesatisfaction survey, covering 85% of our workforce. The average satisfactionscore was 9.04 out of 10, marking a 1% improvement compared to the previousyear. Additionally, 88% of surveyed employees reported a high level of happinessin their work environment.

We have established dedicated complaint channels and e?ective procedures toaddress human rights violations promptly and comprehensively.Employees who experience any form of rights infringement can ?le a complaintwith the Human Resources Department or the labor union. Our President'sO?ce, Human Resources Department, and Risk Control & ComplianceDepartment will conduct investigations and collaboratively handle casesinvolving labor disputes and rights violations based on factual evidence. If aninfringement is con?rmed, we will take appropriate disciplinary actions againstthe o?ender in accordance with relevant laws, regulations, and internal policies.Additionally, we will provide support and reassurance to the a?ected individualsand their families to ensure their rights are fully protected. All personalinformation and privacy of victims and complainants will be strictly safeguarded.

Employee Satisfaction Survey

Employee Complaints and Protection

88%of surveyed employees reported a high levelof happiness in their work environment

[Highlight] ｜"Internationalized Talent Program"[Highlight] ｜"New Talent Program"[Highlight] ｜"ITG Flourish" New Employee Training CampWe introduced the "I-TOP" International Talent Development Model,designed around four core competencies, including sharp marketinsight, resilient risk management, adaptive global mindset, deepindustry expertise. As part of this initiative, we launched the secondphase of the "Internationalized Talent Program", a specializedtraining program for developing international talent. This ?ve-month program combined structured coursework and action-basedlearning, providing a dual-track empowerment approach. A total of50 employees participated, accumulating 61 hours of training. Theprogram e?ectively fostered self-directed learning and continuouslystrengthened our global organizational talent pool.

The "New Talent Program" focuses on integrated competencydevelopment for high-potential young leaders. Launched in May 2024,the program lasted six months, with 98 participants. The "New TalentProgram" is built upon our Key Strategic Talent Model and is structuredaround four core dimensions: Pioneering Culture, Excellence in Results,High-Impact Collaboration, and Top-Tier Talent Development. It employs?ve core pillars: Assessment & Insights, Leadership Development,Practical Training, Knowledge Application, and Collaborative Exchange.The program utilizes diverse teaching methodologies to help youngtalents gain self-awareness, enhance leadership skills, and developstrategic thinking, enabling them to grow into future leaders.

The "ITG Flourish" New Employee Training Camp is designed to enhancethe overall competencies of new employees through a structuredprogram that includes systematic training courses, panel discussions,knowledge competitions, and team-building activities. The programaims to help new employees quickly integrate into the corporate culture,develop professional skills, and adapt to the work environment, layinga solid foundation for their career growth. In 2024, a total of 72 newemployees participated in the "ITG Flourish" Training Camp.

"Internationalized Talent Program"

"New Talent Program"

"ITG Flourish" New Employee Training Camp

We strictly comply with the "Work Safety Law of thePeople's Republic of China" and other relevant laws,regulations, and industry standards. By referencinginternational standards such as ISO 45001, wecontinuously improve our Occupational Health andSafety Management System. Leveraging the "ITG SmartBrain- Safety Management System", we reinforce theimplementation of safety responsibilities, strengthenguidance and supervision over the safety management ofour subsidiaries, e?ectively mitigate various safety risks,and resolutely prevent workplace accidents.During the reporting period, we formulated and issuedthe "Overseas Safety Risk Prevention Guidelines forXiamen ITG Group (Trial)", providing structured guidancefor our subsidiaries to establish standardized and e?ectiveoverseas safety risk prevention systems and enhanceour capabilities in overseas safety risk management.Additionally, we required all business clusters andsubsidiaries to update their respective "Work SafetyResponsibility System for All-Employee" to ensurecompliance and accountability at every level. We activelypromote safety standardization across all units, with 11subsidiaries successfully achieving Level-3 Work SafetyStandardization Certi?cation during the reporting period.

Occupational Health and Safety

We have established a Work Safety Committee (hereinafter referred to as the "Safety Committee"), composed of the Chairman of the Board, senior management, and key personnel from secondary-level safety-critical business units. The Chairman of the Board serves as the Director of the Safety Committee, while the President and Deputy Secretary of the Party Committee act as DeputyDirectors. Under the Safety Committee, we have set up a Work Safety Committee O?ce (hereinafter referred to as the "Safety O?ce"), led by the Deputy Secretary of the Party Committee as theDirector, with the Head of the Safety and Environmental Protection Department serving as the Deputy Director. The Safety and Environmental Protection Department oversees the day-to-dayoperations of the Safety O?ce, which is sta?ed by safety leaders from key business units and dedicated safety management personnel from the Safety and Environmental Protection Department.We have formulated and regularly updated regulations such as the "Work Safety Management Assessment Measures" and the "Work Safety Responsibility System for All-Employee" to ensurethat the performance-based compensation of management is linked to the safety and environmental performance of their respective units. If a major safety or environmental incident occurswithin a manager's area of responsibility during the annual performance evaluation period, leading to signi?cant negative impacts or state-owned asset losses, the entire annual performancesalary and deferred performance salary of the primary responsible person will be deducted. We strictly implement the work safety responsibility for all employees, ensuring that safetyresponsibilities are assigned at every level. Each employee signs a "Work Safety Target Management Accountability Agreement, " reinforcing the principle that "workplace safety is everyone'sresponsibility." This approach creates a top-down, company-wide safety management structure with full employee participation.

Work Safety Management

Director DirectorDeputy DirectorsDeputy Directors

Primary Responsible PersonPrimary Responsible Person

Members

MembersMembers

MembersWork SafetyCommittee

Business Clusters

& Divisions

Key ProductionandOperationalUnits

Work SafetyCommittee O?ce

Chairman of the Board Deputy Party Secretary President, Deputy Party Secretary

Business cluster/division headKey unit head

Head of Safety and Environmental Protection DepartmentBoard Members, Executives, and Key Responsible

Persons from Critical Business Units

Safety management leaders from business clusters/divisions,

frontline safety management personnel

Safety leaders and frontline safety managers from key

production and operational units

Safety management leaders from business clusters/divisions,

frontline safety management personnel

Safety Hazard InspectionWe strictly implement the "Safety Hazard Inspection andRecti?cation Management Regulations" and the "MajorSafety Risk Announcement and Warning Regulations",reinforcing safety hazard identi?cation and recti?cation.Following the principle of "those responsible for businessoperations, industry supervision, and productionmanagement must also be responsible for safety", wecontinuously strengthen safety hazard inspections toprevent potential risks.During the reporting period, we conducted 138 safetyinspections, issued 136 recti?cation notices, andidenti?ed 1,805 safety hazards, of which 1,780 weresuccessfully recti?ed, achieving a recti?cation completionrate of 98.6%. The remaining hazards are being addressedas per the scheduled recti?cation plan, ensuring 100%completion.As part of our safety hazard inspection e?orts, our seniormanagement team personally led comprehensive safetyinspections at frontline operations before major holidays.In 2024, a total of 10 safety inspections were conducted,identifying 111 safety issues, all of which have beensuccessfully recti?ed.

Pre-Holiday Safety Inspections at Business Premises

We invited 45 expert visits, conducting 22 in-depth safety inspections acrossnine key business units, including mines, hotels, and hospitals. Through on-site inspections and expert guidance, we systematically identi?ed and assessedpotential safety risks, proposing 685 corrective measures and ensuring theirsuccessful implementation. These e?orts have signi?cantly enhanced our abilityto identify, prevent, and manage potential safety hazards.

Safety Inspections Conducted by External Experts

Utilizing the "ITG Smart Brain- Safety Management System," we facilitated self-inspection and recti?cation of workplace hazards across all business units. Additionally, weorganized and supervised the implementation of 8 specialized safety campaigns, including Work Safety Month, Fire Safety Awareness Month, Con?ned Space Safety, GasSafety, Recti?cation of Unauthorized Construction and Electrical Welding, Intensive Fire Safety Hazard Recti?cation, Fire Safety Inspections for Polyurethane CombustibleInsulation and Sandwich Materials, Disaster Prevention and Mitigation Week, and Winter-Spring Fire Safety Campaigns. These initiatives e?ectively reduced safety risksand helped prevent major workplace incidents.In 2024, our business units collectively conducted 12,354 self-inspections for workplace safety hazards, with 12,338 successfully recti?ed, achieving a recti?cationcompletion rate of 99.9%.

[Highlight] ｜ Safety Management in Mining ProjectsTo strengthen safety supervision and managemente?ciency in our mining projects, our Safety andEnvironmental Protection Department collaborated withthe Stone Materials Division to establish a dedicatedproject task force. Together, we developed the "MiningProject Safety Management Advisory and Support Planfor Xiamen ITG Group", aimed at promoting standardizedsafety management, eliminating potential hazards, andenhancing safety skills among management personnelat all levels. During the reporting period, we successfullycompleted ?ve phases of safety advisory services, engaging19 expert visits. Through on-site assessments, we identi?ed246 safety hazards, conducted four safety training sessions,and assisted mining enterprises in establishing long-termsafety management mechanisms. These e?orts havesigni?cantly improved safety management standards inmining projects.

Mining Safety Inspections

Work Safety DrillsDuring the reporting period, our subsidiaries and business units conducted 234 emergency drills in accordance with theannual drill plan and actual operational needs. These drills covered various scenarios, including ?ood prevention, ?re safety,crane-related injuries, vehicle accidents, and electric shock incidents. A total of 7,019 participants took part in the trainingexercises, enhancing their emergency response capabilities.

Safety Drills

Occupational Health and Safety Training

We actively organize occupational health training programs foremployees, contractors, and other stakeholders, encouragingsuppliers and contractors to align their occupational healthand safety management with ISO 45001 and other internationalstandards. Through these initiatives, we strive to create ahealthy and safe working environment.In terms of safety education and training, we have launchedtargeted awareness campaigns to reinforce safety culture. DuringWork Safety Month and Fire Safety Awareness Month, we producedsafety messages and slogans, displaying them on TV screens ino?ce reception areas and distributing them to subsidiaries andbusiness units. These messages were promoted through electronicscreens, bulletin boards, banners, corporate WeChat accounts,and the company website, fostering a strong safety awarenessatmosphere across the organization. We also invited external safetyexperts to conduct special training sessions, including a lectureon "Key Actions for the Three-Year Work Safety Reform Initiative",advancing the implementation of the All-Employee Work SafetyResponsibility System. These e?orts help eliminate safety hazardsat their source, ensuring that all business units remain vigilant,safety-conscious, and equipped with the necessary knowledge toidentify and address risks proactively. Additionally, we engagedall employees in safety initiatives such as the "Safety is Everyone'sResponsibility, Readiness is Everyone's Duty" Online KnowledgeCompetition, further reinforcing corporate safety policies andessential safety knowledge across the workforce.

Safety Training

During the reporting period, our subsidiaries and business unitsactively organized 338 safety training sessions, covering topicssuch as "In-Depth Analysis of Typical Work Safety Accidents,""Enhancing Employee Awareness of Labor Protection,""Essential Duties for Corporate Safety Management Personnel,""Comprehensive Interpretation of the New Work Safety Law,"and " Daily Safety Competence Development for Employees." Atotal of 17,719 participants took part in these training sessions,signi?cantly improving employee safety awareness andworkplace safety management capabilities.

Occupational Health and Safety Management for Outsourced PersonnelTo safeguard the rights and well-being of outsourced personnel, we have established and regularly update the "Labor RightsProtection Policy" and the "Risk Control Guidelines for Labor Outsourcing, Labor Dispatch Units, and Secondment(Trial)". We requireall outsourcing partners to comply with legal obligations by ensuring that personnel assigned to our business units are covered bysocial insurance and employer liability insurance. Additionally, onsite workers must be equipped with labor protection gear that meetsnational or industry standards. For outsourced personnel engaged in hazardous or toxic work, regular health check-ups, occupationaldisease screenings, and medical reviews must be conducted. Health records are also required to be maintained to ensure continuousmonitoring and protection of outsourced employees' occupational health.

We advocate for a healthy work-lifebalance and have implemented anoccupational health consultationsystem to provide employees withdisease prevention and occupationalhealth protection services, helpingto mitigate occupational health risks.We also o?er regular mental healthassessments to prevent workplacestress from negatively a?ectingemployees' psychological well-being,ensuring their physical and mentalhealth and safety.

Occupational Health

"Summer Cool Relief" High-Temperature Care Program Conducted by the Union of XiamenITG Group

Employee Assistance Program (EAP)At Xiamen ITG, we prioritize employee mental health and respect individual well-being. Our long-standing Employee AssistanceProgram (EAP) o?ers 24/7 psychological counseling services, regular health knowledge publications, online educational courses, andon-site counseling sessions, providing comprehensive mental health support for employees and their immediate family members.This initiative helps employees manage stress, maintain emotional well-being, and fosters a supportive and respectful workplaceculture. During the reporting period, our EAP program conducted over 10 online live courses and awareness campaigns on mentalhealth and provided psychological counseling services to 212 participants.

"Care For You" Occupational Health Program Series

We conduct risk identi?cation and assessment based on the COSO EnterpriseRisk Management Framework, combined with our operational managementand business realities. The Risk and Compliance Department organizes allfunctional departments and invested enterprises each year to identify theannual key risk focus list, develop speci?c management plans for each risktype and establish standards or limits for major risk events. When signi?cantchanges occur in the macroeconomic environment, market conditions, orcorporate strategy, and it is necessary to adjust the annual key risk list, eachinvestment enterprise must assess the various impacts on their business andreport to the Risk Control and Compliance Department, which will lead thee?ort to update the annual key risk list.During the reporting period, we conducted a major risk assessment for2025 through large-scale surveys and other methods. The survey resultswere analyzed using the Monte Carlo method, evaluating dimensions suchas the likelihood of occurrence and the severity of impact. This processidenti?ed and assessed the key risks to focus on for 2025, their priorityrankings, and risk exposure. Additionally, by organizing and analyzingexisting control measures, we optimized our risk response strategies andimplemented targeted measures to manage the identi?ed risks, ensuringthat the overall risk remains within a controllable range.

Risk Identi?cation and Assessment

Risk TypeRisk Description

Likelihood ofOccurrence

Magnitude ofImpact

Risk LevelMitigation Measures

Challenges and Opportunitiesof Macroeconomic Policies

The supply chain businessprimarily focuses on pro-cyclical products, whichare highly in?uencedby macroeconomicfactors. Changes in thedomestic economicdownturn, supply-demand imbalances, andgeopolitical con?icts maypotentially impact thefuture potential pro?tsof the company's supplychain business.

HighHighHigh

Accelerate the layout of overseas businessplatforms, expand overseas operations, andcapture a larger market share; strengthen R&Dto empower the business, actively developnew products and business models, expandbusiness volume, and improve operationalquality; in line with the actual operations ofthe company's supply chain business, tightenrisk appetite, and implement risk controlmeasures such as reducing credit lines, limitingauthorizations, and strictly controlling theentry of new projects to minimize operationalrisks as much as possible.

Industry Development andTransformation Risks

During the process ofindustry integration andcore business focus, theremay be risks such asuneven resource allocation,imbalanced team structure,personnel turnover,and low managemente?ciency, which couldhinder the company'sbusiness development andtransformation.

HighMediumHigh

Based on strategic planning, investment scale,investment structure, and company resources,formulate the annual investment plan andbudget, and strictly adhere to the approvalprocess. In line with business and managementneeds, strengthen talent pipeline developmentand capability enhancement, continuouslyattract professional talent, and establish e?ectiveincentive mechanisms. Continue investing indigital innovation, optimize the existing digitalbusiness platforms, improve and enhancedigital management capabilities, and increasemanagement and operational e?ciency.

Taking the challenges and opportunities of macroeconomic policies and industry development and transformation risks as examples:

Based on dynamic risk identi?cation and assessmentresults, as well as the occurrence of major risk events, wecontinuously re?ne our risk monitoring system to achievedynamic risk tracking. We have also established a rapidresponse mechanism to ensure timely and e?ective riskmitigation, safeguarding stable operations. In accordancewith the "Operational Risk Management Regulations" andthe "Risk Indicator Monitoring Management Regulations,"we strictly implement the risk indicator warning systemand risk information reporting mechanism.

Risk Monitoring and Reporting

our functional departments and the risk management teams of our subsidiariesare responsible for managing, tracking, addressing, and promptly reportingthem. The Risk and Compliance Department oversees the execution of riskresponse measures. We closely monitor major risk warning events reported byvarious business units, track and compile updates on these events monthly,and analyze the overall major risk situation. Risk matters classi?ed as "WarningLevel" or "Response Level" are reported to the Risk Control Committee in abiweekly report.

our functional departments and subsidiaries establish business risk warning elements based on their respective riskpolicies. They set appropriate standards for di?erent types of risks according to business characteristics, formulateresponse measures, and carry out risk identi?cation, early warning, and control. Risk matters classi?ed as "WarningLevel" or "Response Level" must be reported to the President, Chairman, and Party Secretary within 24 hours andmanaged dynamically. Every two weeks, we reassess the risk level, estimated losses, and response measures,reporting progress in a biweekly report.

events that cannot be substantively resolved within 1 month, 3 months, or 6 months after the occurrence, the reporting procedures shall be followedas stipulated, and the relevant decision-making bodies will discuss and decide on the resolution plan for the risk event. For signi?cant compliancerisk events, within 24 hours of occurrence, each investment enterprise or department shall report to the company's Risk Control and ComplianceDepartment, and report to the Compliance and Risk Management O?cer and senior leadership in stages. The Compliance and Risk Management O?cerwill organize meetings to study and deploy the response plan.

For SignifcantOperational RiskEventsFor DesignateRisk MattersFor Daily RiskIndicators

We adhere to relevant international conventions and strictlycomplies with the laws and regulations of China and thecountries/regions where we operate. We have establishedthe "Code of Business Conduct", which explicitly opposesunfair competition, improper transactions, and otheractivities that disrupt market order. We remain committedto operating with integrity and upholding fair marketcompetition. During the reporting period, no lawsuits oradministrative penalties related to unfair competition wererecorded.

We strictly comply with the "Enterprise Income Tax Law of the People's Republic of China" and other relevant tax laws andregulations in the regions where we operate. Upholding integrity and legal compliance, we diligently ful?ll our tax obligations.Our Finance Department is responsible for tax management, including the preparation of daily tax declarations, tax calculations,and other tax-related guidelines to regulate the tax operations of our company and subsidiaries. During the reporting period,we revised the "Tax Management Measures", further clarifying tax management requirements and standardizing tax-relatedoperations. This ensures that we comply with laws and regulations in our daily business activities while optimizing taxmanagement e?ciency.We prioritize tax risk management through a comprehensive approach covering pre-planning, mid-process supervision, andpost-event management to enhance tax compliance and e?ectively mitigate tax risks.

Anti-Unfair CompetitionTax Compliance

We have signed a "Tax Compliance Cooperation Agreement"with local tax authorities, fostering a relationship ofmutual trust and establishing a transparent and proactivecommunication mechanism. Through regular consultationsand exchanges with tax authorities, we strengthen our taxrisk prevention measures. Additionally, we conduct periodicinternal and external tax compliance training to enhanceemployees' awareness of tax risk prevention, improve taxrisk management capabilities, and uphold transparency,integrity, and compliance in tax matters. During thereporting period, we organized a "Tax Management"knowledge-sharing session for key ?nance personnel andconducted a "Tax Risk Prevention and Control" complianceenhancement training for ?nance and business teams.These initiatives help reinforce tax compliance awarenessamong all employees, strengthen collaboration betweenbusiness and functional departments, and improve taxcompliance and risk management across all businessactivities.During the reporting period, our total tax payments amountedto 1,576.9 million RMB, with no tax-related violations recorded.

our total tax payments amounted1,576.9million RMB

We closely monitor changes intax laws and policies, providinginterpretations and internalbrie?ngs to enhance overall taxrisk awareness. We proactivelyo?er tax advisory services at theearly stages of business activitiesto prevent potential tax risks.

We ensure that tax-related transactionsare processed accurately and in compliancewith regulations, with timely tax filing andpayment. For disputed matters, weimplement a risk control mechanismthat integrates recommendationsfrom external professional institutions,tax authorities, and internal expertsto ensure our tax operations remainlegally compliant.

We conduct systematic reviews ofbusiness activities and applicabletax laws to reassess potential taxrisks. We actively address any tax-related issues and implementinternal audits to proactivelymanage tax risks, ensuring theyremain within a reasonable andcontrollable range.

Pre-planning:Mid-process supervision: Post-event management:

We encourage all stakeholders to report any violations or potential violations of our Code of Business Conduct and relevant laws and regulations. We fully support and protect the rights of all stakeholders tosubmit complaints and provide suggestions. In accordance with the "Rules for Handling Whistleblower Reports by Discipline Inspection and Supervision Authorities" and the "Regulations on Complaint Lettersand Visits", we have established multiple accessible reporting channels, including telephone, email, and face-to-face communication, to receive complaints and suggestions from stakeholders. Our SupervisionO?ce is responsible for handling reports, initiating investigation and resolution procedures, and providing timely feedback to whistleblowers regarding investigation results and subsequent actions.To safeguard whistleblowers' rights, we have formulated the "Management Regulations for the Protection of Whistleblowers", which clearly outline strict con?dentiality obligations and a zero-tolerance policytoward retaliation:

Complaint Mechanismand WhistleblowerProtection Policy

Complaint Hotline:

0592-5898586Supervision O?ce, 26th Floor, ITG Center, 4688 Xianyue Road, Huli District, Xiamen, China.Mailing Address:

Our Supervision O?ce maintains strict con?dentiality when handling whistleblower reports and cases, classifying all related materials as con?dential.Without the whistleblower's consent, we do not disclose or leak their identity or the content of the report.Anonymous reports are accepted, and unless necessary for case investigation, the Supervision Office does not verify handwriting orconduct forensic analysis on anonymous submissions.If other departments need to access whistleblower materials for investigation, they must sign a "Con?dentiality Agreement" to ensurecompliance with con?dentiality obligations.No department or individual is allowed to suppress or obstruct whistleblowers from exercising their lawful right to report misconduct.No department or individual is permitted to trace or identify whistleblowers without authorization.Any form of retaliation, including against the whistleblower, their family members, or perceived whistleblowers, is strictly prohibited.Any individual found violating con?dentiality obligations or engaging in retaliatory actions against whistleblowers will be subject to strictdisciplinary measures and legal consequences.

Management Regulationsfor the Protection ofWhistleblowers

Data OverviewAppendix

MetricsUnit202220232024Enviromental InvestmentTotal environmental investmentTen-thousand RMB/226.53 1,005.95Number of environmental violations

Times

/0 0Number of environmental emergency drills/21 11GHG Emissions

Scope 1 – Direct GHG emissions

tCO

e

63,177.34105,619.97 95,209.19Scope 2 – Indirect GHG emissions frompurchased energy

183,283.14242,920.21 212,834.74Total GHG emissions (Scope 1+ Scope 2)246,460.48348,540.18308,043.93Emission intensity

tCO

e/hundred-million RMBof operating revenue

47.2274.4486.91Air Pollutants

Nitrogen oxides (NOx)Ton/2.9941.08Note 1　The decrease in our total GHG emissions in 2024 compared to 2023 is mainly due to the reduction in electricity consumption, steam consumption, thermal coal consumption, diesel, and other fossil energy consumption during the reporting period.Note 2　The increase in our air pollutants in 2024 compared to 2023 is mainly due to the business volume growth of Ningbo Zhencheng Mining and Nujiang Silicon Industry during the reporting period.

MetricsUnit202220232024

Sulfur oxides (SOx)

Ton

/1.4026.22Particulate matter (PM)/3.15130.96Non-methane volatile organic compounds(NMVOCs)

/0.135.35Wastewater PollutantsTotal wastewater dischargesm

/523,389344,993.34Energy ConsumptionElectricity consumptionkWh271,331,451.20342,095,277.67336,257,778.45Electricity consumption density

kWh/ hundred-millionRMB of operating revenue

51,987.3773,058.7494,870.26Steam consumption

Ton

74,541.45139,112.8194,244.71Lique?ed gas consumption

4.2711.123.56Thermal coal consumption

8,012.8410,007.030Natural gas consumptionm

/1,169,092.151,180,465.38Gasoline consumption

Litre

/433,068.61571,693.83Diesel consumption

8,346,273.39 5,249,827.42 2,457,662.26Marine fuel for shippingTon/28,432.67 27,668.49Note 3　The decrease in our steam consumption in 2024 compared to 2023 is mainly due to the reduction in production capacity at the Keerun Tire factories in Rizhao and Dezhou during the reporting period.Note 4　The decrease in our lique?ed gas consumption in 2024 compared to 2023 is mainly due to the substitution of lique?ed gas with other energy sources at Ningbo Zhencheng Mining during the reporting period.

Note 5　Our consumption of thermal coal in 2024 was 0, mainly due to the fact that Tongjiang Guomao Wanli Grain Reserve Co., Ltd. did not use thermal coal during the reporting period.Note 6　The decrease in our diesel consumption in 2024 compared to 2023 is mainly due to the reduction in diesel usage at Guangzhou Keerun Paper due to the closure of some warehouses, and at ITG Tidak Logistics during the reporting period.

Environmental

MetricsUnit202220232024Water ResourcesWater withdrawal

m

/917,616.80 683,428.39Water consumption/394,227.80338,435.05Water consumption densitym

/ hundred/84.1995.48WasteHazardous WasteHazardous waste generated

Ton

/ 62.81 78.37Transfer and disposal volume ofhazardous waste

/ 59.64 84.70General WasteIndustrial waste generated

Ton

//322,494.51Industrial waste recycled// 322,442.51Domestic waste generated/2,755.04772.40Domestic waste recycled/37.423.96Packaging MaterialsPlastic products consumption

Ton

3.0363.4560.09Paper products consumption2.507.508.71

MetricsUnit202220232024Employee CompositionTotal employees

Person

6,9366,9476,913Including: Employees with signed labor //6,888 Other workers

//25Employee Composition by GenderMale

Person

4,1344,3054,168Female2,8022,6422,745Employee Composition by AgeUnder 30

Person

2,3872,0581,901Between 30-503,9944,3034,361Over 50555586651Employee Composition by EducationMasters degree and above

Person

667725768Bachelors degree2,9603,1013,254Other degrees3,3093,1212,891Employee Composition by NationalityChina

Person

/6,5836,474Others/364439Employee Composition by EthnicHanPerson//6,222

Employment

Note 7　Other workers include interns and individuals employed under part-time labor service agreements signed with the company.

MetricsUnit202220232024OthersPerson//691Employee Composition by FunctionSales personnel

Person

2,8132,8762,717Technical personnel172369511Financial personnel409430471Administrative personnel752800762Production personnel2,7902,4722,452Female production personnel/712751Female sales personnel/1,1411,080Female technical personnel/74145Female ?nancial personnel/300322Female administrative personnel/415447Number of employees in STEM (Science,Technology, Engineering, and Mathematics)positions

/286271Number of female in STEM (Science,Technology, Engineering, and Mathematics)positions

/5665Proportion of female in STEM (Science,Technology, Engineering, and Mathematics)positions

%/19.5823.99

MetricsUnit202220232024

Employment of Local EmployeesNumber of employees from the provincePerson/4,4143,837Proportion of employees from theprovince

%/63.5455.50Number of female employees from theprovince

Person/1,7291,683Proportion of female employeesfrom the province

%/65.4461.31Number of senior managementfrom the province

Person/514Proportion of senior managementfrom the province

%/100.00100.00Number of female seniormanagement from the province

Person/23Proportion of female seniormanagement from the province

%/100.00100.00Employment of Disabled IndividualsNumber of disabled employees hiredPerson51219Propotion of disabled employees hired%0.120.170.27Management Composition by Gender

Male management personnel

Person

110310446Female management personnel32138207Proportion of female management personnel%22.5430.8031.70

Note 8　Management refers to mid-level and above managers at the company headquarters, as well as senior management personnel in each subsidiary company.

MetricsUnit202220232024Senior management personnel

Person

/57Including: Female senior management personnel/22Proportion of female senior managementpersonnel

%/40.0028.57Junior management personnel

Person

/288456Including: Female juniormanagement personnel

/103156Proportion of female junior managementpersonnel

%/35.7634.21Management personnel in revenue-generating departments

Person

//301Including: Female management personnel inrevenue-generating departments

//82Proportion of female management personnelin revenue-generating departments

%/28.5027.24Management Composition by NationalityChinaPerson/446644OthersPerson/29Labor Contract SigningLabor contract signing rate%100.00100.00100.00Support for Employee Career Planning and Job ChangesNumber of internal employee rotationsPerson//80Proportion of internal employee rotations%//1.16

MetricsUnit202220232024Employee TurnoverNumber of employees at the beginning of the year

Person

5,5046,9366,947Number of new hires during the year1,6331,657713Number of departures602643575Including: Departures of employees under 30/267232Departures of employees between 30-50

/358325 Departures of employees over 50/1818Including: Departures of Chinese employees/642569 Departures of Non-Chinese employees/16Including: Departures of male employees/402377 Departures of female employees/241198Annual turnover rate%8.437.487.29Employee TrainingTotal annual investment inemployee training

Ten-thousandRMB

644.00678.60328Total number of employees trainedPerson5,9336,0955,159Average training cost per employee

Ten-thousand RMB

/0.100.06Number of male employees trained

Person

/3,6593,032Number of female employees trained/2,4362,127Proportion of female employees trained%39.1492.2077.49Employee training coverage rate%85.5487.7474.63

MetricsUnit202220232024Total employee training hours

Hour

73,446114,430.8693,551Average training hours per employee10.5916.4718.13Employee Training by TypeTotal hours of online training

Hour

/86,895.2341,339Total hours of on-the-job coaching//2,841Total hours of leadership training (Talentpipeline program)

//10,071Total hours of professional skills training//2,340Total hours of cultural competency training//8,941Average training hours per male employee//16Average training hours per female employee//20Average training hours per employee under 30//25Average training hours per employee between30-50

//16Average training hours per employee over 50//11Average training hours per junior mangementpersonnel

//32Average training hours per mid-level mangementpersonnel

//32Average training hours per senior mangementpersonnel

//33Average training hours per Chinese personnel//18Average training hours per Non-Chinesepersonnel

//10

MetricsUnit202220232024Employee PerformanceProportion of employees undergoing regularperformance and career development assessments

%/100.00/Compensation and Bene?tsMale entry level salary

RMB

/2,600.002,600.00Female entry level salary/2,600.002,600.00Government-mandated local minimum wagefor males

/2,030.002,030.00Government-mandated local minimum wagefor females

/2,030.002,030.00Proportion of male entry level salary to localmale minimum wage

%

380.95128.08128.08Proportion of female entry level salary tolocal male minimum wage

380.95128.08128.08Average annual compensation for malesenior management

Ten-thousandRMB

/145.09120.56Average annual compensation for femalesenior management

/101.6271.92Average monthly basic salary for male seniormanagement

RMB

/40,000.0040,000.00Average monthly basic salary for femalesenior management

/40,000.0040,000.00Average monthly basic salary for malemanagement

/17,195.0018,055.00Average monthly basic salary for femalemanagement

/17,195.0018,055.00Average monthly basic salary for non-management male employees

/6,455.006,778.00Average monthly basic salary for non-management female employees

/6,455.006,778.00

MetricsUnit202220232024Work Safety InputTotal annual input in occupational health andwork safety

Ten-thousand

RMB

/3,803.153,055.26Occupational Health and Safety PerformanceTotal participants in occupational health andsafety training

Participant/24,88117,719Number of safety emergency drillsTimes/223 265Number of attendees for safety emergency drills%/3,951 7,019Number of o?ine safety training sessionsSession/504 338Number of online safety training coursesCourse/39 55Work Safety AccidentExtra-major accidentCase//0

MetricsUnit202220232024

Mean wage gap

RMB

/00Median wage gap/00Mean bonus gap/00Median bonus gap/00Freedom of Association and Collective BargainingNumber of employees covered by collectiveagreements

Person/3,1502,991Proportion of employees covered by collectiveagreements

%/45.3443.27Employee Care and WelfareDe?ned bene?t plans and other retirement plans

Ten-thousand RMB

/2,140.672,897.48Company contribution percentage to de?nedbene?t plans and other retirement plans

%/35Total duration of paid parental leave requestedby employees

Day

/1,696.672,260.5Including: Total duration of paid parental leave requested by employees (asprimary caregivers)

/957.751,232.00Total duration of paid parental leave requestedby employees (as non-primary caregivers)

/738.921,028.50Duration of paid family or caregiving leaveexcluding maternity leave

/1,402.501,377.50Condolence fund expenditure

Ten-thousand RMB

//370.30Human Rights Impact AssessmentMinimum notice period for operational changesDay/3031

MetricsUnit202220232024

Security PracticeNumber of security personnel trained in humanrights policies or procedures

Person

/230217Number of security personnel employed bythe company

/1739Number of third-party security personnel/213178Proportion of security personnel trained in human rights policies or procedures

%/100.00100.00 Occupational Health and Safety

MetricsUnit202220232024Complaint ResolutionTotal number of product or service-relatedcomplaints

Case

303315Total number of resolved product orservice-related complaints

303315Timeliness rate of responses to product orservice-related complaints

%100.00100.00100.00Information Security and Privacy ProtectionInformation security incidentCase000Number of customers a?ected by data breachesPerson/00Number of employees a?ected by data breachesPerson/00Incidents of customer privacy violationsCase/00

Market

MetricsUnit202220232024Major accident

Case

//0Serious accident//0General accident//0Number of work stoppagesTimes//0Duration of work stoppagesDay//0Total number of work safety incidentsCase//0

MetricsUnit202220232024Technology Research and DevelopmentTotal R&D investment amount in technology

Ten-thousand RMB490

5,154.238,961.72Proportion of R&D investment to revenuefrom core businesses

%//0.03Number of R&D personnelPerson//171Proportion of R&D personnel%//2.47Intellectual PropertyNumber of new patent applications

Case

23038Number of new patents granted/2521Number of new copyright applications/1917Number of new copyright registrations212513Number of new trademark registrations/9481Number of new trademark applications1127115Number of new intellectual property rights13512149Number of invention patents applied to thecore businesses

//122Total number of granted patents// 239Total number of registered copyright// 72Total number of registered trademarks// 611Incidents of intellectual propertyinfringement

Case//0

MetricsUnit202220232024

Community EngagementAmount of externaldonations

Ten-thousand RMB

/153.0081.00Total trade volume withBelt and Road Countries

//9,000,000Number of volunteerservice

Times/87262Total number of volunteerparticipants

Participants9624201,574Total hours of volunteerservice

Hour6,735.001,605.003,593.50

MetricsUnit202220232024Business EthicsAnti-corruption Advocacy and TrainingProportion of board members, supervisors, andsenior management briefed on anti-corruptionpolicies and procedures

%

/100.00100.00Proportion of employees briefed on anti-corruptionpolicies and procedures

/100.00100.00Proportion of board members, supervisors, andsenior management received anti-corruption training

/100.00100.00Proportion of employees received anti-corruption training/100.00100.00Business Ethics ViolationsIncidents of commercial bribery and corruption

Case

/00Con?icts of interest incidents/00Money laundering and insider trading incidents/00Incidents resulting in litigation or signi?cant administrativepenalties due to unfair competition or monopolisticpractices

/00Number of corruption incidents involving employeesbeing dismissed or disciplined due to corrupt behavior

//0Number of corruption incidents involving businesspartners where contracts were terminated or notraenewed due to corrupt behavior

//0

Community

Corporate GovernanceMetricsUnit202220232024

Supplier InformationTotal number of suppliers

Count

47,52548,23255,571Number of suppliers in the company's province7,9667,0546,220Number of suppliers in Mainland China38,37537,99245,401Number of suppliers outside Mainland China/10,24010,170Total number of suppliers reviewed by thecompany in the year

8,61713,51310,299Total number of new suppliers admittedafter reviewed by the company in the year

6,67310,8029,397

Guidelines No. 14 of Shanghai Stock Exchange for the Self-Regulation of Listed Companies - Sustainability Report (Trial)

TopicClauseLocation

Chapter III Environmental DisclosureClimate ResponseArticle 21-28Climate ResponsePollutant DischargeArticle 30Pollutant Discharge

Waste DisposalArticle 31Waste DisposalEcosystem and Biodiversity ProtectionArticle 32Ecosystem and Biodiversity ProtectionEnvironmental ComplianceManagement

Article 33

Environmental ComplianceManagement

Energy UsageArticle 35Energy UsageUsage of Water ResourcesArticle 36Usage of Water ResourcesCircular EconomyArticle 37Circular Economy

Chapter IV Social DisclosureRural RevitalizationArticle 39Rural RevitalizationSocial ContributionsArticle 40Social ContributionsInnovation-driven DevelopmentArticle 42Innovation-driven Development

TopicClauseLocationEthics of Science and TechnologyArticle 43Not ApplicableSupply Chain SecurityArticle 45Supply Chain SecurityEqual Treatment to Small and Medium-

sized Enterprises

Article 46

Equal Treatment to Small andMedium-sized EnterprisesSafety and Quality of Products and

Services

Article 47Safety and Quality of Products and ServicesData Security and Customer Privacy

Protection

Article 48

Data Security and Customer Privacy

ProtectionEmployeesArticle 50EmployeesChapter V Disclosure of Corporate Sustainability-Related Governance InformationDue DiligenceArticle 52

Management of Material MattersSustainability Risk ManagementSupply Chain SecurityCommunications with StakeholdersArticle 53Communications with StakeholdersAnti-Commercial Bribery and Anti-

Corruption

Article 55

Anti-Commercial Bribery and Anti-

CorruptionAnti-unfair CompetitionArticle 56Anti-unfair Competition

SASB IndexSASB TopicsAccounting MetricsDisclosure PlacementEnergy Managementin Retail & Distribution

CG-MR-130a.1：

(1)Total energy consumed

(2)Percentage grid electricity

(3)Percentage renewable energy

Energy UsageData Overview

Data Security

CG-MR-230a.1：

Discussion of management approach to identifying andaddressing data security risks

Data Security and Customer PrivacyCG-MR-230a.2：

(1)Number of data security breaches

(2)Percentage involving customers' personality identi?able

information (PII)

(3)Number of customers a?ected

Data Security and Customer Privacy

Data Overview

Fair Labor Practices

CG-MR-310a.1：

(1)Average hourly wage

(2)Percentage of in-store employees earning minimum

wage, by region

Data Overview

CG-MR-310a.2：

Employee turnover rate for in-store employees

(1) Voluntary

(2)Involuntary

Not Applicable

Amount of legal and regulatory ?nes and settlementsassociated with labor law violations

Employees

SASB TopicsAccounting MetricsDisclosure Placement

Workforce Diversity &Inclusion

CG-MR-330a.1：

Percentage of gender and racial/ethnic group representation for

(1)Management

(2)All other employees

Equal EmploymentData OverviewCG-MR-330a.2：

Amount of legal and regulatory ?nes and settlements associatedwith employment discrimination

Employees

Product sourcing,Packaging, and Marketing

CG-MR-410a.1：

Revenue from products third-party certi?ed to environmentaland/or social sustainability standards

Not available in this reportCG-MR-410a.2：

Description of processes to assess and manage risks and/or hazards associated with chemicals in products

Not ApplicableCG-MR-410a.3：

Description of strategies to reduce the environmental impactof packaging

Not ApplicableCG-MR-000.A：

(1)Number of retail locations

(2)Number of distribution centers

Not ApplicableCG-MR-000.B：

Total area of (m2):

(1)Retail space

(2)Distribution centers

Not Applicable

Reference of ESG Indicators System for ESG Reports of Listed Chinese Central State-Owned Enterprises EnvironmentalPrimary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

E.1 ResourceConsumption

E.1.1 Water Resource

E.1.1.1 Fresh-water consumptionData OverviewE.1.1.2 Circulating water usageWater Resources ConservationE.1.1.3 The proportion of circulatingwater usage

Water Resources ConservationE.1.1.4 Water resource consumptionintensity

The Economic, Environmental,

and Social Impact in 2024

Data OverviewE.1.2 Materials

E.1.2.1 Consumption of non-renewablematerials

Not available in this reportE.1.2.2 Consumption of toxic andhazardous materials

Not available in this reportE.1.2.3 Material consumption intensityNot available in this report

E.1.3 Energy

E.1.3.1 Fossil energy consumption

Energy Usage

Data OverviewE.1.3.2 Non-fossil energy consumption

Energy Usage

Data OverviewE.1.3.3 The proportion of non-fossilenergy consumption

Energy Usage

Data OverviewE.1.3.4 The total energy consumption

Energy Usage

Data Overview

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

E.1 ResourceConsumption

E.1.3 Energy

E.1.3.5 The energy consumptionintensity

The Economic, Environmental,and Social Impact in 2024Data OverviewE.1.4 Packaging Materials

E.1.4.1 The amount of packagingmaterials used

Data OverviewE.1.4.2 Light-weighting and reductionof packaging materials

Data Overview

E.2 PollutionPrevention andControl

E.2.1 Wastewater

E.2.1.1 The compliance status ofwastewater discharge

Wastewater ManagementE.2.1.2 Wastewater management andemission reduction measures

Wastewater ManagementE.2.1.3 Volume of wastewater dischargeData OverviewE.2.1.4 Volume of pollutants dischargedin wastewater

Data OverviewE.2.1.5 Concentration of pollutantsdischarged in wastewater

Data Overview

E.2.2 Exhaust Air

E.2.2.1 Compliance status of exhaustgas emissions

Wastewater ManagementE.2.2.2 Volume of air pollutants emitted

Waste Gas Management

Data OverviewE.2.2.3 Concentration of air pollutantsemitted

Wastewater ManagementE.2.3 Solid Waste

E.2.3.1 Compliance with legalregulations on solid waste disposal

Waste Disposal

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

E.2 PollutionPrevention andControl

E.2.3 Solid Waste

E.2.3.2 Management of generalindustrial solid waste

Waste DisposalE.2.3.3 Disposal volume of generalindustrial solid waste

Data OverviewE.2.3.4 Management of hazardouswaste

Waste DisposalE.2.3.5 Volume of hazardous wastedisposed

Data Overview

E.3 Climate Change

E.3.1 GHG Emissions

E.3.1.1 Sources and types of GHGemissions

GHG Emissions ManagementE.3.1.2 GHG emissions management

Net Zero Strategy

GHG Emissions Management

GHG Emission Reduction ActionsE.3.1.3 Scope 1 emission

GHG Emissions Management

Data OverviewE.3.1.4 Scope 2 emission

GHG Emissions Management

Data OverviewE.3.1.5 Scope 3 emissionNot available in this reportE.3.1.6 GHG emission intensity

The Economic, Environmental,

and Social Impact in 2024

GHG Emissions Management

Data OverviewE.3.2 Emission ReductionManagement

E.3.2.1 GHG emission reductionmanagement

GHG Emission Reduction ActionsE.3.2.2 GHG emission reduction

GHG Emissions Management

GHG Emission Reduction Actions

Data OverviewE.3.3 Environmental RightsTrading

E.3.3.1 Participation in the carbonemissions trading market

Not Applicable

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

E.3 Climate Change

E.3.3 Environmental RightsTrading

E.3.3.2 Participation in the energy rights,water rights, and pollution rights tradingmarkets

Not ApplicableE.3.3.3 Participation in green electricitytrading

Not ApplicableE.3.4 limate RiskManagement

E.3.4.1 Climate risk managementSustainability Risk ManagementE.4 Biodiversity

E.4.1 Impact of Production,Services, and Products onBiodiversity

E.4.1.1 Impacts of production, services,

and products on biodiversity

Ecosystem and BiodiversityProtection

E.5 Measures forResource andEnvironmentalManagementSystems

E.5.1 Setting Low-CarbonDevelopment Goals andStrategic Measures

E.5.1.1 Setting low-carbon

development goals and strategic

measures

Climate ResponseNet Zero Strategy

E.5.2 ResourceManagement Measures

E.5.2.1 Water resource managementWater Resources Conservation

E.5.2.2 Material use managementCircular Economy

E.5.2.3 Energy use and energy e?ciency

management

GHG Emission Reduction ActionsE.5.3 Energy-Savingand Carbon ReductionMonitoring, StatisticalReporting, andAssessment System

E.5.3.1 Energy-saving and carbonreduction monitoring, statisticalreporting, and assessment system

GHG Emissions Management

GHG Emission Reduction Actions

E.5.4 Green EnvironmentalActions and Measures

E.5.4.1 Clean production

GHG Pollutant Discharge

Waste DisposalE.5.4.2 Green technology upgradingand recycling

Emission Reduction Actions

Water Resources Conservation

Circular EconomyE.5.4.3 Green building renovationNot Applicable

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

E.5 Measures forResource andEnvironmentalManagementSystems

E.5.4 Green EnvironmentalActions and Measures

E.5.4.4 Green o?ce and operations

GHG Emission Reduction ActionsEnvironmental ComplianceManagementPollutant DischargeWaste DisposalE.5.4.5 Green procurement and greensupply chain management

GHG Emission Reduction ActionsResponsible SourcingE.5.4.6 Environmental conservationpublic activities

Environmental ComplianceManagement

E.5.5 Green Low-CarbonCerti?cation

E.5.5.1 Environmental managementsystem certi?cation

Environmental ComplianceManagementE.5.5.2 Green and low-carbonenterprise certi?cation

GHG Emission Reduction ActionsE.5.5.3 Green and low-carbon productand service certi?cation

GHG Emission Reduction Actions

Circular EconomyE.5.6 Legal Compliance inEnvironmental Matters

E.5.6.1 Emergency response plan forenvironmental incidents

Environmental Compliance

ManagementE.5.6.2 Environmental violations

Environmental Compliance

Management

Social

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

S1 Employee Rights

S1.1 Employeerecruitment andemployment

S1.1.1 Corporate recruitment policy andimplementation

Equal EmploymentHuman Rights ProtectionTalent DevelopmentS1.1.2 Employee structure

Equal EmploymentData OverviewS1.1.3 Prohibition of child labor andforced labor

Human Rights Protection

S1.2 Employeecompensation andbene?ts

S1.2.1 Compensation philosophy and policy

Talent DevelopmentEmployeeCompensation and Bene?tsS1.2.2 Working hours and rest and leave

Occupational Health and SafetyEmployee Compensation andBene?tsS1.2.3 Compensation and benefits protection

Employee Compensation andBene?tsS1.2.4 Employee engagement indecision-making

Employee Communication

S1.3 Employee healthand safety

S1.3.1 Employee occupational health andsafety management

Occupational Health and SafetyS1.3.2 Occupational safety risk managementOccupational Health and SafetyS1.3.3 Response to safety incidents andwork-related injuries

Occupational Health and SafetyS1.3.4 Employee support and assistance

Employee Compensation and

Bene?ts

Occupational Health and SafetyS1.4 Employeedevelopment andtraining

S1.4.1 Employee motivation andpromotion policy

Talent Development

Employee Compensation and

Bene?tsS1.4.2 Employee education and trainingTalent Development

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

S1 Employee Rights

S1.4 Employeedevelopment andtraining

S1.4.3 Employee career planning and jobchange support

Employee CommunicationTalent DevelopmentS1.5 Employeesatisfaction

S1.5.1 Employee satisfaction surveyEmployee CommunicationS1.5.2 Labor disputesEmployeesS1.5.3 Employee turnover statusData Overview

S2 Product AndService Management

S2.1 Product safety andquality

S2.1.1 Production standard managementpolicies and measures

Safety and Quality of Productsand ServicesS2.1.2 Quality management

Safety and Quality of Productsand ServicesS2.1.3 Product recall and withdrawal

Safety and Quality of Productsand ServicesS2.1.4 Adverse events related to productsor services

Safety and Quality of Productsand ServicesS2.2 Customer serviceand rights

S2.2.1 Customer satisfaction

Safety and Quality of Productsand ServicesS2.2.2 Customer complaints andhandling

Safety and Quality of Productsand ServicesS2.2.3 Customer information and privacyprotection

Data Security and CustomerPrivacy

S2.3 Innovationdevelopment

S2.3.1 R&D and innovation managementsystem

R&D and Innovation SupportS2.3.2 R&D investmentR&D and Innovation SupportS2.3.3 Innovation achievementsR&D and Innovation SupportS2.3.4 Intellectual property protection

Intellectual Property Rights

Protection

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

S3 Supply Chain Safetyand Management

S3.1 Supplier Management

S3.1.1 Supplier selection and managementSupply Chain SecurityS3.1.2 Number and distribution of suppliersData OverviewS3.2 Supply ChainManagement

S3.2.1 Supply chain managementpolicies and measures

Supply Chain SecurityS3.2.2 Supply chain security assuranceand emergency plan

Supply Chain SecurityS3.2.3 Major risks and impacts of supply chainSupply Chain Security

S4 Social Contribution

S4.1 Tax payment statusS4.1.1 Tax payment status

The Economic, Environmental,

and Social Impact in 2024S4.2 Community co-building

S4.2.1 Policies and measures for participatingin local community construction

Rural Revitalization and Social

ContributionsS4.2.2 Contribution and impact on thelocal community

Rural Revitalization and Social

Contributions

S4.3 Social welfare activities

S4.3.1 Policies and measures forparticipating in social welfare activities

Rural Revitalization and Social

ContributionsS4.3.2 Investment and e?ectiveness inparticipating in social welfare activities

Rural Revitalization and Social

Contributions

Data OverviewS4.3.3 Development of an inclusive andaccessible environment

Rural Revitalization and Social

Contributions

S4.4 National strategyresponse

S4.4.1 Industrial transformation

Rural Revitalization and Social

ContributionsS4.4.2 Rural revitalization and regionalcollaborative development

Rural Revitalization and Social

ContributionsS4.4.3 Belt and Road initiative andoverseas responsibility performance

Data OverviewS4.4.4 Industry-speci?c features andother social responsibility performance

Rural Revitalization and Social

Contributions

GovernancePrimary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

G1 GovernanceStrategy andOrganizationalStructure

G1.1 Governance strategyand processes

G1.1.1 Governance strategy formulationGovernance Structure and MechanismG1.1.2 Governance strategy supervisionprocess

Governance Structure and MechanismG1.1.3 Governance strategy approval andreview process

Governance Structure and MechanismG1.1.4 Leadership through Party governanceThe Party BuildingG1.2 Organizationalcomposition andfunctions

G1.2.1 Ownership responsibilities

Governance Structure and Mechanism

Risk Control and ComplianceG1.2.2 Board of directors, supervisory board,and management organizational structureand functions

Governance Structure and MechanismG1.2.3 Appointment procedures andcomposition of the board of directors,supervisory board, and management

Governance Structure and Mechanism

G1.3 Compensationmanagement

G1.3.1 Compensation plan for directorsand supervisors

Governance Structure and MechanismG1.3.2 Transparency of the board'scompensation

Governance Structure and MechanismG1.3.3 Reasonableness of managementcompensation

Governance Structure and Mechanism

Occupational Health and Safety

G2 StandardizedGovernance

G2.1 Internal control

G2.1.1 Internal auditRisk Control and ComplianceG2.1.2 Internal control structure,mechanisms, and processes

Risk Control and Compliance

Complaint Mechanism and

Whistleblower Protection PolicyG2.2 Business integrity

G2.2.1 Integrity construction systemstandards

Anti-Commercial Bribery and Anti-

Corruption

Complaint Mechanism and

Whistleblower Protection Policy

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

G2 StandardizedGovernance

G2.2 Business integrity

G2.2.2 E?ectiveness of integrityconstruction measures

Anti-Commercial Bribery and Anti-CorruptionG2.3 Fair competition

G2.3.1 Fair competition system standards

Anti-Unfair CompetitionComplaint Mechanism andWhistleblower Protection PolicyG2.3.2 E?ectiveness of fair competitionmeasures

Anti-Unfair Competition

G3 Investor RelationsManagement andShareholder Rights

G3.1 Investor relationsmanagement

G3.1.1 Investor relations managementstrategy

Investor RelationsG3.1.2 Investor communicationInvestor RelationsG3.1.3 Establishment of the investorrelations department

Investor Relations

G3.2 Shareholder rights

G3.2.1 Shareholders' meetings

Governance Structure and

MechanismG3.2.2 Shareholder communicationpractices

Investor Relations

Communications with StakeholdersG3.2.3 Shareholders' right to informationand decision-making participation

Governance Structure and

Mechanism

Investor RelationsG3.3 Creditor rights

G3.3.1 Credit evaluation statusNot ApplicableG3.3.2 Bond market complianceNot ApplicableG4 InformationDisclosureTransparency

G4.1 Informationdisclosure system

G4.1.1 Financial information disclosureInvestor RelationsG4.1.2 Non-?nancial informationdisclosure

Investor RelationsG4.2 Quality ofinformation disclosure

G4.2.1 Regular monitoring, auditing, andevaluation of disclosures

Disclosed in 2024 annual report

Primary IndicatorsSecondary IndicatorsTertiary IndicatorsLocation

G5 CompliantOperation and RiskManagement

G5.1 Compliant operation

G5.1.1 Compliant operation system

Risk Control and ComplianceAnti-Commercial Bribery and Anti-CorruptionG5.1.2 Development of the compliancesystem

Risk Control and ComplianceAnti-Commercial Bribery and Anti-CorruptionG5.1.3 Speci?c process of compliance review

Risk Control and ComplianceAnti-Commercial Bribery and Anti-Corruption

G5.2 Risk management

G5.2.1 Risk identi?cation and early warningRisk Control and ComplianceG5.2.2 Risk control and trackingRisk Control and Compliance

G5.2.3 Risk reporting and management

Risk Control and ComplianceAnti-Commercial Bribery and Anti-CorruptionAnti-Unfair CompetitionData Overview

ESRS Index

European sustainability reporting standards (ESRS)Location/omissionESRS 2 General DisclosuresBP-1General basis for the preparation of sustainability statementsAbout This ReportBP-2Disclosures in relation to speci?c circumstancesNot ApplicableGOV-1The role of the administrative, management and supervisory bodiesGovernance Structure and MechanismGOV-2

Information provided to and sustainability matters addressed by the

undertaking's administrative, management and supervisory bodies

Governance Structure and MechanismRisk Control and ComplianceGOV-3Integration of sustainability-related performance in incentive schemes

Governance Structure and MechanismOccupational Health and SafetyGOV-4Statement on due diligence

Management of Material MattersSustainability Risk ManagementSupply Chain SecurityGOV-5Risk management and internal controls over sustainability reporting

Risk Control and ComplianceSustainability Risk ManagementSBM-1Strategy, business model and value chain

Integrate Industry to Connect, CreateValue to ShareNet Zero StrategySupply Chain SecuritySafety and Quality of Products and ServicesSBM-2Interests and views of stakeholdersCommunications with StakeholdersSBM-3

Material impacts, risks and opportunities and their interaction with

strategy and business model

Management of Material MattersRisk Control and ComplianceSustainability Risk Management

European sustainability reporting standards (ESRS)Location/omissionIRO-1

Description of the processes to identify and assess material impacts,

risks and opportunities

Management of Material MattersRisk Control and ComplianceIRO-2

Disclosure requirements in ESRS covered by the undertaking's sustainability

statement

About This ReportManagement of Material MattersIndexESRS E1 Climate ChangeE1-1Transition plan for climate change mitigationNet Zero StrategyE1-2Policies related to climate change mitigation and adaptationNet Zero StrategyE1-3Actions and resources in relation to climate change policies

Climate ResponseCircular EconomyE1-4Targets related to climate change mitigation and adaptationEnvironmentE1-5Energy consumption and mix

Energy UsageData OverviewE1-6Gross Scopes 1, 2, 3 and Total GHG emissions

GHG Emissions ManagementData OverviewE1-7GHG removals and GHG mitigation projects ?nanced through carbon creditsNot ApplicableE1-8Internal carbon pricingNot ApplicableE1-9

Anticipated ?nancial e?ects from material physical and transition risks

and potential climate-related opportunities

Sustainability Risk ManagementManagement of Material MattersESRS E2 PollutionE2-1Policies related to pollution

Pollutant DischargeWaste DisposalE2-2Actions and resources related to pollution

Pollutant DischargeWaste Disposal

European sustainability reporting standards (ESRS)Location/omissionE2-3Targets related to pollution

EnvironmentEnvironmental Compliance ManagementE2-4Pollution of air, water and soil

GHG Emissions ManagementPollutant DischargeWaste DisposalE2-5Substances of concern and substances of very high concern

GHG Emissions ManagementPollutant DischargeWaste DisposalE2-6

Anticipated ?nancial e?ects from pollution-related impacts, risks and

opportunities

Not ApplicableESRS E3 Water and Marine ResourcesE3-1Policies related to water and marine resourcesWater Resources ConservationE3-2Actions and resources related to water and marine resourcesWater Resources ConservationE3-3Targets related to water and marine resourcesWater Resources ConservationE3-4Water consumption

Water Resources Conservation

Data OverviewE3-5

Anticipated ?nancial e?ects from water and marine resources-relatedimpacts, risks and opportunities

Not ApplicableESRS E4 Transition plan and consideration of biodiversityE4-1

Transition plan and consideration of biodiversity and ecosystems instrategy and business model

Not ApplicableE4-2Policies related to biodiversity and ecosystemsEcosystem and Biodiversity ProtectionE4-3Actions and resources related to biodiversity and ecosystemsEcosystem and Biodiversity Protection

European sustainability reporting standards (ESRS)Location/omission

E4-4Targets related to biodiversity and ecosystemsNot ApplicableE4-5Impact metrics related to biodiversity and ecosystems changeEcosystem and Biodiversity ProtectionE4-6

Anticipated ?nancial e?ects from biodiversity and ecosystem-relatedrisks and opportunities

Not ApplicableESRS E5 Resource Use and Circular EconomyE5-1Policies related to resource use and circular economy

Energy Usage

Circular EconomyE5-2Actions and resources related to resource use and circular economy

GHG Emission Reduction Actions

Circular EconomyE5-3Targets related to resource use and circular economyEnvironmentE5-4Resource in?owsCircular EconomyE5-5Resource out?owsCircular EconomyE5-6

Anticipated ?nancial e?ects from resource use and circular economy-related impacts, risks and opportunities

Not ApplicableESRS S1 Own WorkforceS1-1Policies related to own workforceEmployeesS1-2

Processes for engaging with own workforce and workers' representativesabout impacts

Employee CommunicationS1-3

Processes to remediate negative impacts and channels for ownworkforce to raise concerns

Employee CommunicationS1-4

Taking action on material impacts on own workforce, and approachesto managing material risks and pursuing material opportunities relatedto own workforce, and e?ectiveness of those actions

Employees

European sustainability reporting standards (ESRS)Location/omission

S1-5

Targets related to managing material negative impacts, advancingpositive impacts, and managing material risks and opportunities

EmployeesS1-6Characteristics of the undertaking's employees

Equal Employment

Data OverviewS1-7Characteristics of non-employees in the undertaking's own workforce

Equal Employment

Data OverviewS1-8Collective bargaining coverage and social dialogueEmployee CommunicationS1-9Diversity metrics

Equal Employment

Data OverviewS1-10Adequate WagesEmployee Compensation and Bene?tsS1-11Social protection

Employee Compensation and Bene?ts

Data OverviewS1-12Persons with disabilitiesData OverviewS1-13Training and skills development metricsData OverviewS1-14Health and safety metricsData OverviewS1-15Work-life balance metricsData OverviewS1-16Remuneration metrics (pay gap and total remuneration)Data OverviewS1-17Incidents, complaints and severe human rights impactsHuman Rights ProtectionESRS S2 Workers in the Value ChainS2-1Policies related to value chain workersSupply Chain Security

European sustainability reporting standards (ESRS)Location/omissionS2-2Processes for engaging with value chain workers about impactsSupply Chain SecurityS2-3

Processes to remediate negative impacts and channels for value chain

workers to raise concerns

Supply Chain SecurityCommunications with StakeholdersS2-4

Taking action on material impacts on value chain workers, and approaches

to managing material risks and pursuing material opportunities related to

value chain workers, and e?ectiveness of those action

Supply Chain SecurityS2-5

Targets related to managing material negative impacts, advancingpositive impacts, and managing material risks and opportunities

Suppliers and ClientsESRS S3 A?ected CommunitiesS3-1Policies related to a?ected communitiesSocial ContributionsS3-2Processes for engaging with a?ected communities about impactsSocial ContributionsS3-3

Processes to remediate negative impacts and channels for a?ectedcommunities to raise concerns

Social Contributions

Communications with StakeholdersS3-4

Taking action on material impacts on a?ected communities, and approachesto managing material risks and pursuing material opportunities related toa?ected communities, and e?ectiveness of those actions

Social ContributionsS3-5

Targets related to managing material negative impacts, advancingpositive impacts, and managing material risks and opportunities

Social ContributionsESRS S4 Consumers and End-usersS4-1Policies related to consumers and end-users

Supply Chain Security

Safety and Quality of Products and

Services

Data Security and Customer Privacy

Protection

European sustainability reporting standards (ESRS)Location/omissionS4-2Processes for engaging with consumers and end-users about impacts

Safety and Quality of Products and ServicesData Security and Customer Privacy ProtectionCommunications with Stakeholders

S4-3

Processes to remediate negative impacts and channels for consumers

and end-users to raise concerns

Safety and Quality of Products and ServicesData Security and Customer Privacy ProtectionS4-4

Taking action on material impacts on consumers and end-users, and

approaches to managing material risks and pursuing material opportunities

related to consumers and end-users, and e?ectiveness of those actions

Safety and Quality of Products and ServicesData Security and Customer Privacy ProtectionS4-5

Targets related to managing material negative impacts, advancing

positive impacts, and managing material risks and opportunities

Suppliers and ClientsESRS G1 Business ConductG1-1Business conduct policies and corporate cultureCommercial BehaviorsG1-2Management of relationships with suppliers

Supply Chain Security

Equal Treatment to Small and Medium-

sized EnterprisesG1-3Prevention and detection of corruption and bribery

Anti-Commercial Bribery and Anti-

Corruption

Complaint Mechanism and

Whistleblower Protection PolicyG1-4Incidents of corruption or bribery

Anti-Commercial Bribery and Anti-

Corruption

Data OverviewG1-5Political in?uence and lobbying activitiesNot ApplicableG1-6Payment practices

Equal Treatment to Small and Medium-

sized Enterprises

ISDS Index IFRS S1Core ElementsDisclosure RecommendationsDisclosure Placement

Governance

The governance body(s) (which can include aboard, committee orequivalent body charged with governance) or individual(s) responsiblefor oversight of sustainability-related risks and opportunities.

Governance Structure andMechanismRisk Control and ComplianceManagement's role in the governance processes, controls andprocedures used to monitor, manage and oversee sustainability-related risks and opportunities.

Governance Structure andMechanismRisk Control and Compliance

Strategy

The sustainability-related risks and opportunities that couldreasonably be expected to a?ect the entity's prospects within the timehorizons—short, medium or long term.

Management of MaterialMattersSustainability RiskManagementThe current and anticipated e?ects of sustainability-related risks andopportunities on the entity's business model and value chain, andwhere in the entity's business model and value chain sustainability-related risks and opportunities are concentrated

Management of MaterialMattersSustainability RiskManagementHow the entity has responded to, and plans to respond to,sustainability-related risks and opportunities in its strategy anddecision-making, and the progress against plans the entity hasdisclosed in previous reporting periods, including quantitative andqualitative information, and trade-o?s between sustainability-relatedrisks and opportunities that the entity considered.

Management of MaterialMattersSustainability RiskManagement

Core ElementsDisclosure RecommendationsDisclosure Placement

Strategy

The quantitative and qualitative e?ects of sustainability-related risks andopportunities on the entity's ?nancial position, ?nancial performance andcash ?ows for the reporting period, and the sustainability-related risks andopportunities identi?ed for which there is a signi?cant risk of a materialadjustment within the next annual reporting period to the carrying amountsof assets and liabilities reported in the related ?nancial statements, and howthe entity expects its ?nancial position, ?nancial performance and cash?ows to change over the short, medium and long term, given its strategy tomanage sustainability-related risks and opportunities.

Management of MaterialMatters

The resilience of the entity's strategy and its business model to thosesustainability-related risks.

Management of MaterialMattersSustainability RiskManagement

Risk Management

The processes and related policies the entity uses to identify,assess, prioritize and monitor sustainability-related risks, includinginformation about: the inputs and parameters the entity uses，whether and how the entity uses scenario analysis to inform itsidenti?cation of sustainability-related risks, whether and how theentity prioritizes sustainability-related risks, how the entity assessesthe nature, likelihood and magnitude of the e?ects of those risks.

Management of MaterialMattersSustainability RiskManagementRisk Control and ComplianceThe processes the entity uses to identify, assess, prioritize andmonitor sustainability-related opportunities, including: whether andhow the entity uses scenario analysis to inform its identi?cation ofsustainability-related opportunities.

Management of MaterialMattersSustainability RiskManagementRisk Management

The extent to which, and how, the processes the entity uses toidentify, assess, prioritize and monitor sustainability-related risks andopportunities are integrated into and inform the entity's overall riskmanagement process.

Sustainability Risk ManagementRisk Control and Compliance

IFRS S2Core ElementsDisclosure RecommendationsDisclosure Placement

Governance

The governance body(s) (which can include a board, committee orequivalent body charged with governance) or individual(s) responsiblefor oversight of climate-related risks and opportunities.

Governance Structure andMechanismRisk Control and ComplianceManagement's role in the governance processes, controls andprocedures used to monitor, manage and oversee climate-relatedrisks and opportunities.

Governance Structure andMechanismRisk Control and Compliance

Strategy

The climate-related risks and opportunities that could reasonably beexpected to a?ect the entity's prospects within time horizons—short,medium or long term, whether the entity considers the risk to be aclimate-related physical risk or climate-related transition risk.

Management of MaterialMattersSustainability RiskManagementThe current and anticipated e?ects of climate-related risks andopportunities on the entity's business model and value chain, andwhere in the entity's business model and value chain climate-relatedrisks and opportunities are concentrated.

Management of MaterialMattersSustainability RiskManagementInformation about how the entity has responded to, and plans torespond to, climate-related risks and opportunities in its strategy anddecision-making, including how the entity sets targets, how the entityis resourcing and quantitative and qualitative information about thedisclosed progress of plans.

Management of MaterialMattersSustainability RiskManagement

Core ElementsDisclosure RecommendationsDisclosure Placement

Metrics and Targets

Metrics required by an applicable IFRS Sustainability DisclosureStandard.

EnvironmentalSocialGovernanceMetrics the entity uses to measure and monitor sustainability-related risks or opportunities and its performance in relation to thatsustainability-related risk or opportunity.

EnvironmentalSocialGovernanceAny targets the entity has set it is required to meet by law or regulation.

EnvironmentalSocialGovernance

Core ElementsDisclosure RecommendationsDisclosure PlacementRisk Management

The extent to which, and how, the processes for identifying, assessing,prioritizing and monitoring climate-related risks and opportunitiesare integrated into and inform the entity's overall risk managementprocess.

Management of MaterialMattersSustainability RiskManagement

Metrics and Targets

The cross-industry metric categories of greenhouse gas emissions,internal carbon prices, the percentage of executive managementremuneration recognized in the current period that is linked toclimate-related considerations, capital deployment towards climate-related risks and opportunities, the amount and percentage ofassets or business activities vulnerable to climate-related risks andopportunities.

GHG Emissions Management

Industry-based metrics that are associated with one or more particularbusiness models, activities or other common features that characterizeparticipation in an industry.

GHG Emissions ManagementThe quantitative and qualitative climate-related targets the entity hasset or it is required to meet by law or regulation, progress towardsreaching the target, information about its performance, and eachgreenhouse gas emissions target.

Environmental

Social

Governance

Core ElementsDisclosure RecommendationsDisclosure Placement

Strategy

The quantitative and qualitative e?ects of those climate-relatedrisks and opportunities on the entity's ?nancial position, ?nancialperformance and cash ?ows for the reporting period, the climate-related risks and opportunities identi?ed in paragraph 16(a) forwhich there is a signi?cant risk of a material adjustment within thenext annual reporting period to the carrying amounts of assets andliabilities reported in the related ?nancial statements, and how theentity expects its ?nancial position, ?nancial performance and cash?ows to change over the short, medium and long term, given itsstrategy to manage climate-related risks and opportunities.

Management of MaterialMatters

The entity's assessment of its climate resilience, including the entity'sassessment for its strategy and business model, the signi?cant areasof uncertainty considered in the entity's assessment of its climateresilience and the entity's capacity to adjust or adapt its strategy andbusiness model to climate change over the short, medium and longterm. The entity shall use climate-related scenario analysis to assessits climate resilience and disclose how and when the climate-relatedscenario analysis was carried out, including information about theinputs the entity used, the key assumptions the entity made in theanalysis and the reporting period in which the climate-related scenarioanalysis was carried out.

Management of MaterialMattersSustainability RiskManagement

Risk Management

The processes and related policies the entity uses to identify, assess,prioritize and monitor climate-related risks, including informationabout: the inputs and parameters the entity uses, whether andhow the entity uses climate-related scenario analysis to inform itsidenti?cation of climate-related risks, whether and how the entityprioritizes climate-related risks, how the entity assesses the nature,likelihood and magnitude of the e?ects of those risks.

Management of MaterialMattersSustainability RiskManagementRisk Control and ComplianceThe processes the entity uses to identify, assess, prioritize and monitorclimate-related opportunities, including information about whetherand how the entity uses climate-related scenario analysis to inform itsidenti?cation of climate-related opportunities.

Management of MaterialMattersSustainability RiskManagement

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