Stock Code | 002930Bond Code | 128121
2024 Annual
Sustainability Report
Guangdong Great River Smarter Logistics Co., Ltd.
Report Information StatementThis is the 6th Sustainability/Environmental, Social and Governance (ESG)/Corporate Social Responsibility report published byGuangdong Great River Smarter Logistics Co., Ltd. (hereinafter referred to as "Great River Smarter Logistics," "the Company,"or "we"). This report articulates the Company's sustainability philosophy and policies, as well as our efforts in environmentalprotection, social responsibility, and corporate governance throughout 2024, addressing the expectations and concerns of ourstakeholders.Time FrameThis report covers the period from January 1, 2024, to December 31, 2024. For continuity of information, certaincontents have been retrospectively reviewed or extended. All information included is derived from the Company'sinternal data and publicly available materials.
Scope of the ReportThe organizational scope of this report encompasses all business operations of Guangdong Great River SmarterLogistics Co., Ltd. and its subsidiaries, consistent with the scope disclosed in the Company's annual report.
FormatThis report is published in both Chinese and English electronic document formats on the CNINFO website(www.cninfo.com.cn).
For any questions or suggestions regarding this report, please contact us at:
Email: grsl@grgroup.ccTel: 0769-88002930
ContactData Statement
Reference Guidelines
This report has been prepared with reference to the following ESG disclosure standards:
The Global Sustainability Standards Board (GSSB)'s "GRI Universal Standards (2021 version)" in accordance option
The Shenzhen Stock Exchange's "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 17 -
- Sustainability Report (Trial)" and "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guide No. 3 -
- Sustainability Report Preparation"
The Task Force on Climate-related Financial Disclosures (TCFD)'s "Recommendations of the Task Force on
Climate-related Financial Disclosures"
The United Nations 17 Sustainable Development Goals (SDGs)
All data and case studies presented in this report are sourced from official company documents and statisticalreports, and have undergone internal verification.The operational data disclosed herein is derived from the "Guangdong Great River Smarter Logistics 2024 AnnualReport" (hereinafter referred to as the "Annual Report"). In case of any discrepancies, the Annual Report shall prevail.Unless otherwise specified, all monetary amounts in this report are denominated in RMB.
Chairman's MessageCompany ProfileDevelopment History, Business Layout,and Service PortfolioCorporate CultureCorporate Honors
Corporate Governance
Corporate Governance and Sound ManagementCorporate Governance StructureBoard of DirectorsStandardized Remuneration ManagementInvestor Rights ProtectionEnhancing Performance CapabilityBusiness EthicsAnti-CorruptionWhistleblower ProtectionAnti-Unfair CompetitionRisk Control and Compliance ManagementRisk ControlRelated Party Transaction ManagementData Security and Privacy ProtectionTax ComplianceIntellectual Property Protection
Environmental ManagementEnvironmental Management FrameworkEnvironmental Management FrameworkEnvironmental Risk ManagementGreen Storage and Transportation/Green OperationsEnvironmental Protection Culture PromotionPollution EmissionWastewater Discharge ManagementAir Emissions ManagementWaste ManagementNoise Pollution ControlResource Consumption and RecyclingWater Resource ConsumptionEnergy ManagementRaw Material ManagementCircular EconomyEcological Environmental ProtectionSoil and Biodiversity ProtectionClimate Change ResponseClimate Change GovernanceClimate Change Strategy and ManagementCarbon Emission Accounting and ManagementCarbon Reduction Measures and Targets
Employee Recruitmentand DevelopmentEmployee Recruitment and TurnoverEmployee Benefits and CareEmployee Training and DevelopmentEmployee Health and SafetySafety Management SystemSafety Impacts, Risks, and Opportunities ManagementProduct ResponsibilityTechnological InnovationTechnological Innovation AchievementsDigitalization and IntelligenceProduct QualityProduct Quality Management SystemCustomer ServiceCustomer Service SystemResponsible Marketing
Supply Chain ManagementSupply Chain Management SystemSustainable ProcurementConflict MineralsIndustry Cooperation and AdvancementSupply Chain EmpowermentLeading Industry DevelopmentRural Revitalization and Social Contribution
About This Report
Catalogue
Sustainable Development (ESG)ManagementESG Management Framework and FunctionsESG Management Framework and FunctionsMateriality Assessment ProcessStakeholder CommunicationMateriality Assessment ConclusionsESG Management Strategy and SDGsResponse
Partnership Cooperationand Industry Advancement
About This Report
Chairman's MessageCompany ProfileDevelopment History, Business Layout,and Service PortfolioCorporate CultureCorporate Honors
As days and months pass, the seasons change. The year 2024 was both a crucial year for China's "14th Five-YearPlan" and a year of overcoming challenges, expanding against headwinds, and boldly reforming for Great RiverSmarter Logistics. This year, facing complex and severe situations with increasing external pressures and internaldifficulties, Great River Smarter Logistics initiated a top-down enterprise transformation around our corephilosophy of being "customer-centric." Through the collective efforts of all GR team members, we havedelivered high-quality, sustainable results and drawn up a forward-looking, long-term blueprint.Unceasing Endeavors, Creating New Development OpportunitiesIn 2024, the domestic chemical storage industry faced unprecedented challenges. Affected by multiple factorsincluding global economic fluctuations, energy structure transformation, and shrinking domestic demand forchemical raw materials, the industry as a whole experienced slowing growth and intensified competition. GreatRiver Smarter Logistics, through its dual-driven development model of "external acquisition and internal growth,"achieved continuous expansion in scale, demonstrating strong resilience.storage project formerly under theglobal industry leader Royal Vopak, establishing a solid foundation for our global development strategy.Currently, our newly constructed chemical warehouse projects in Chengdu and Nantong have beencompleted and put into operation, making powerful strides toward Great River Smarter Logistics' secondgrowth curve.At present, Great River Smarter Logistics operates 14 terminals and 1,044 storage tanks with a total capacityexceeding 5 million cubic meters. We have 115,300 square meters of chemical warehouses in operation and43,700 square meters under construction.Moving Forward, Practicing ESG PrinciplesGreat River Smarter Logistics has always maintained "creating comprehensive value for society" as one of ourimportant corporate missions. Through our Strategy and Sustainable Development Committee, we have deeply
Chairman's Message
Chairman, Great RiverSmarter Logistics：
embedded ESG principles into our corporate culture, integrating them into every aspect of daily operations andmanagement. We continuously improve our ESG management mechanisms and establish clear ESG managementobjectives, striving to enhance our ESG management standards while ensuring business objectives are met,actively responding to stakeholder expectations, and safeguarding the company's sustainable development.Over the past year, with HSE as our foundation, we implemented an integrated HSE management system coveringhealth, safety, and environment, successfully achieving our goal of zero major safety, environmental, and healthincidents. We continued to increase investment in safety and environmental protection technology, exploringzero-carbon storage facilities and green storage and transportation technologies, achieving significant results inenergy conservation and emission reduction. In 2024, the company invested 66.7411 million yuan in safety andenvironmental protection.Over the past year, we conducted various charitable activities through multiple platforms such as the HaoshangPublic Welfare Fund, 620 GR Charity Day (20th June), Great River Spark Volunteer Team, and the EmployeeMutual Aid Fund, joining forces with various social sectors. In 2024, the company invested 1.4517 million yuan incharitable causes, mainly for rural revitalization, education and elderly support, military support, and communitybuilding. In addition, the company's Employee Mutual Aid Fund directly assisted 9 employees in difficultythroughout the year, distributing 176,500 yuan in hardship allowances.Unwavering Commitment, Charting a Blueprint for TransformationMove swiftly with the wind, advance steadily against it. In the ever-changing tides of business, beyond passion,wisdom and perseverance are required. 2025 will be a crucial year for Great River Smarter Logistics tocomprehensively advance our transformation projects. Through four major transformation initiatives in strategy,team, process, and performance, we are committed to building a systematic and scientific operationalmanagement system to promote the comprehensive enhancement and continuous evolution of Great River'sorganizational capabilities, injecting strong momentum into the company's future development.We are promoting strategic management transformation, comprehensively identifying market opportunities andformulating clear development strategies. For the next three years, Great River Smarter Logistics will remaincustomer-centric, focusing on the strategy of "deepening domestic presence, developing overseas markets,"continuously improving quality and efficiency.We are promoting management team transformation, helping the enterprise transition from individual wisdom tocollective decision-making. By establishing the Executive Management Team (EMT) and implementing a rotatingpresident system, we are building standardized decision-making processes, multi-dimensional evaluationsystems, and dynamic calibration mechanisms to achieve systematic decision-making and efficient teamcollaboration.Process system transformation is a key step in improving our operational efficiency. We will establish an end-to-end process system centered on customers and solidify it through information technology. This will not onlyoptimize internal collaboration but also enable us to respond quickly to customer needs, creating greater valuefor them.Performance incentive transformation is our core initiative to unleash the potential of all employees. We willestablish an all-employee incentive mechanism to implement our core value of "valuing contributors," motivatingevery Great River team member to strive for our common goals.A thousand sails race with the waves, a hundred boats compete to be first. In the future, guided by our new visionto "become a globally leading energy and chemical storage and logistics service provider," we will steadfastlyadvance our globalization strategy, deepen our presence in domestic markets, expand into overseas markets, andcomprehensively enhance our core competitiveness and sustainable development capabilities. We firmly believethat through the joint efforts of all Great River team members, Great River Smarter Logistics will forge aheadsteadily on the path of sustainable development.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportAbout This Report
林海川
Development History, Business Layout,and Service Portfolio
Company Profile
Diagram
1.01.5~
1.52.0~
2024 GDP
Unit: trillion yuan
0.00.5~
0.51.0~
2.02.5~
TerminalStorageTankChemicalWarehouse
Ship CleaningStationDeliveryWarehouse
Goods Warehousingand ExchangeServiceHazardousChemicals Road Port
ChengduChengdu
WeifangWeifang
ZhongshanZhongshan
Ningbo NingxiangNingbo Ningxiang
DongguanDongguanQuanzhouQuanzhou
CangzhouCangzhou
NingboNingbo
Fujian Gangfeng EnergyFujian Gangfeng Energy
NanjingNanjing
Suzhou(Taicang)
Suzhou(Taicang)
NantongNantongChangzhouChangzhou
Suzhou(Changshu)Suzhou(Changshu)
Changshu BaseChangshu Base
Chengdu Great Smart WarehousingChengdu Great Smart Warehousing
Weifang Great RiverWeifang Great River
Cangzhou Great RiverCangzhou Great River
Nanjing Great RiverNanjing Great RiverChangzhou Great RiverChangzhou Great River
Changshu Great RiverChangshu Great RiverChangshu Great SmartChangshu Great Smart
Taicang Power ShellPetrochemicalTaicang Power ShellPetrochemical
Jiangsu ChangjiangPetrochemical
Jiangsu ChangjiangPetrochemicalLishadao BaseLishadao BaseDongguan Evergrowing TerminalDongguan Evergrowing TerminalDongguan Great River Petrochemical TerminalDongguan Great River Petrochemical TerminalDongguan Great River Petrochemical TerminalDongguan Great River Petrochemical Terminal
Zhongshan HongchuanZhongshan Hongchuan
Nantong Power Shell PetrochemicalNantong Power Shell Petrochemical
Nantong Great SmartNantong Great SmartNantong BaseNantong Base
RizhaoRizhao
Rizhao Great RiverRizhao Great River
HoldingShareholdingJoint Venture
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportAbout This ReportHeadquartered in Dongguan, Guangdong ProvinceWas initially listed on the Shenzhen Stock Exchange throughan IPO of A-shares on March 28, 2018 (Great River Smarter Logistics, 002930)Total tank capacity: million cubic meters
5.1869
Total warehouse capacity: square meters115,300Total land area: Over acres 6,000
Number of storage facilities: 18Number of terminals: 14Number of storage tanks: 1,044
Service Portfolio
Specialized Services
Smart Customer Services
Universal CommodityDeposit and Withdrawal Services
Tank Washing and WastewaterTreatment Services
Hazardous ChemicalVehicle Highway Port Services
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportAbout This Report
"Vessel → Terminal → Vessel" Transit ServicesVessel
UnloadingServi
cesPipeline TransportationServiceTruck Unloading ServicesRailwayUnloadingServiceTruck Unloading ServicesTruck Loading Services
RailwayLoadingServi
ces
Vessel LoadingServicesBulk Chemical Vessels
Chemical PlantsTank Trucks
Box Trucks
Chemical WarehouseStorage Services
Terminal TankStorage Services
ContainerHandling Services
Bulk Chemical Vessels
Chemical PlantsTank TrucksRailway Tank CarsRailway Tank Cars
Box Trucks
Pipeline
Transportation ServiceTruck Unloading Services
Employee Focus
Employee-centric
HSE Culture
Family-CareCulture
SatisfactionCulture
LeadingCulture
CollaborationCulture
CommunicationCulture
People-oriented, ensuring health, safety,
and environmental protection
"100% Gratitude" program for filial piety to parents
"Family Journey" program for family care"Employee Mutual Aid Fund" for colleagues in need
Satisfied employees provide
satisfactory service to customers
Employee satisfactionDepartment satisfaction
Customer satisfaction
Leading enterprisesLeading team and managementLeading talent and concepts
Leading benefits
Supervisors to subordinates: More praise,
more encouragementSubordinates to supervisors:
More suggestions, more discussions
to resolve problems
Internal complementary assistance and mutual progressExternal coordinated development and one-stop service
Corporate Culture
To become a globally leading energyand chemical storage and logistics service providerProvide quality services to customersBuild development platforms for employeesCreate comprehensive value for societyGenerate substantial returns for shareholders
Core Values
Customer-centric
HSE as foundation
contributor-orientedcommitted to long-term
principles
continuousself-transformation
Three Growth Curves
New energy, greenchemical product storageoperations, and other
new businessesCurrent Core BusinessDomestic terminaland tank storage operations
Future Growth Business
Overseas terminal and tank storage
operations, and integrateddomestic chemical warehousestorage and distribution business
Emerging Business
MissionVision
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportAbout This Report
Corporate Honors
Government/Public Organization Awards
Advanced Unit in SourceManagement
Nantong Power Shell Terminal
Nantong EcologicalEnvironment Bureau
Advanced Unit for High-QualityDevelopment Services 2023Nantong Power Shell Terminal
Rugao Transportation Bureau
Advanced Collective in Safety
(Emergency) Work 2023Nantong Power Shell Terminal
Rugao Transportation Bureau
Jiangsu Province WorkersPioneer AwardNantong Power Shell Terminal
Jiangsu Federation of Trade Unions
Advanced Unit for High-Quality
Development 2024
Nantong Power Shell Terminal
CPC Rugao Changjiang Town Committee;Rugao Changjiang Town People's GovernmentRugao Changjiang Town People's Government
Innovation Breakthrough
Award 2023
Changzhou GR Terminal
Jiangsu Changzhou Binjiang EconomicDevelopment Zone Management Committee
for Tax Payment 2023Special Contribution AwardChangzhou GR Terminal
Jiangsu Changzhou Binjiang EconomicDevelopment Zone Management Committee
Four-Star Enterprise 2023Changzhou GR Terminal
CPC Changzhou Committeeand Changzhou People's Government
Top Ten Modern ServiceIndustry Enterprise 2023
Changzhou GR Terminal
CPC Changzhou National High-TechIndustrial Development Zone WorkingCommittee and Management Committee
Safety and EnvironmentalProtection Dual ExcellenceDemonstration Enterprise 2023
Changzhou GR Terminal
Jiangsu Changzhou Binjiang EconomicDevelopment Zone Management Committee
" Shengrui Work Method" BenchmarkDemonstration Enterprise(Second Batch)
Changzhou GR Terminal
Jiangsu Changzhou Binjiang EconomicDevelopment Zone Management Committee
"Hand in Hand for Smart EnterpriseDevelopment" Caring Enterprise
2023-2024
Changzhou GR Terminal
Jiangsu Changzhou Binjiang EconomicDevelopment Zone Management Committee
Advanced Unit for High-QualityDevelopment Services 2023
Advanced Party Organization for
Port District Grassroots PartyMember Winter Training
2022-2023CPC Taicang Port Economic andTechnological Development Zone Working Committee
Nantong Hongzhi DG WH
Rugao Transportation Bureau
Taicang City Civilized
Unit 2020-2022Taicang Power Shell Terminal
CPC Taicang City CommitteeTaicang City People's Government
Taicang Power Shell Terminal
Top Ten Advanced ServiceIndustry Enterprise 2023
Taicang Power Shell Terminal
Taicang Port Economic and TechnologicalDevelopment Zone Management Committee
Taicang City Service Industry
High-Quality DevelopmentContribution Award 2023
Taicang Power Shell Terminal
CPC Taicang City CommitteeTaicang City People's Government
Suzhou City AAAA-LevelLabor Protection CreditUnit 2021-2022
Taicang Power Shell Terminal
Suzhou Human Resources and Social Security Bureau/Suzhou Social Credit System Construction Leadership Group Office
Suzhou Port AdvancedLabor Union Organization
Taicang Power Shell Terminal
Suzhou Port Management Committee Office
GRHaoshang Public WelfareFund - Outstanding Charity Fund
Taicang Power Shell Terminal
Taicang Civil Affairs BureauTaicang Charity Federation
Jiangsu Federation of Trade Unions
Workers Pioneer Award (HSE)Taicang Power Shell Terminal
Healthy EnterpriseDongguan Evergrowing Terminal
Dongguan Shatian Town Health Bureau
Service Industry Pioneer
Award 2023
Changshu GR Terminal
CPC Changshu Economic and TechnologicalDevelopment Zone Working Committee/Management Committee
Changshu City EnvironmentalManagement ExcellenceEnterprise for Full-ProcessStandardized Construction 2023
Changshu GR Terminal
Suzhou Changshu Ecological Environment Bureau
Advanced Unit for BorderInspection Integrity Management
Changshu Hongzhi Terminal
Changshu Entry-Exit Border Inspection Station
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportAbout This Report
Industry Association Awards
2024 Chemical Storage andTransportation Safety Management
Innovation Enterprise
Cangzhou GR DG WH
China Transportation Association
Media Awards
Outstanding Boardof Directors
Great River Smarter Logistics
" Board of Directors" Magazine
Investor Relations
Pegasus Award
Great River Smarter Logistics
Great River Smarter Logistics
Most PopularListed Company
Great River Smarter Logistics
WWW.0033.CN
Annual ESG BestPractice EnterpriseGreat River Smarter Logistics
China.com.cn
Excellent Example
of Value GrowthGreat River Smarter Logistics
Public Securities News
Best ESG Practices Enterprises
Great River Smarter Logistics
Dongguan Listed Companies Association
Outstanding Contribution AwardGreat River Smarter Logistics
Dongguan Listed Companies Association
2023-2024 ChemicalLogistics TOP Enterprise - Storage
Service Enterprise
Great River Smarter Logistics
China Federation of Logistics and Purchasing
2024 China Chemical LogisticsIndustry "Social ResponsibilityContribution Enterprise"
Great River Smarter Logistics
China Federation of Logistics and Purchasing
Quality Cooperation Unit forCreating Benchmarking Chemical
Storage Enterprises
Nantong Power Shell Terminal
China Occupational Safety and Health Association
Zhongshan City Meteorological
Disaster PreventionDemonstration Unit
Zhongshan GR Terminal
Zhongshan Lightning Disaster Prevention
and Mitigation Association
Ten-Year Dedication Award of
Taicang Logistics and SupplyChain Management Association
Taicang Power Shell Terminal
Taicang Logistics and Supply ChainManagement Association
Guangdong Province CleanProduction EnterpriseEvaluation Certificate
Dongguan Evergrowing Terminal
Guangdong CleanProduction Association
2024 China Chemical Logistics Industry Safety Management
Enterprise
Changshu GR Terminal
China Federation ofLogistics and Purchasing
Best Practice Case forSustainable Development
Great River Smarter Logistics
China Association for Public Companies
Typical Practice Case forBoard of DirectorsGreat River Smarter Logistics
China Association for Public Companies
High-QualityDevelopment EnterprisesGreat River Smarter Logistics
Dongguan Listed Companies Association
CPC Jingfeng Town Committee/JingfengTown People's GovernmentOutstanding TaxContribution Award 2023
Fujian Gangfeng Energy
Major Taxpayer (2.8-5 million yuan) 2023
Fujian Gangfeng Energy
Hui'an County People's Government
Fujian Meizhou Bay Port Development Center
Quanzhou City Five-Star Safety Production Enterprise
Fujian Gangfeng Energy
Advanced Collective
for Educational Donations
Fujian Gangfeng Energy
CPC Jingfeng Town CommitteeJingfeng Town People's Government
Quanzhou Safety Production Committee Office
Implementation ofAll-Employee ResponsibilitySystem to Create Standardized
Demonstration Enterprise
Fujian Gangfeng Energy
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportAbout This Report
SustainableDevelopment (ESG)Management
ESG Management Framework and FunctionsESG Management Framework and FunctionsMateriality Assessment ProcessStakeholder CommunicationMateriality Assessment ConclusionsESG Management Strategy and SDGsResponse
The company has implemented a robust ESG management system with active oversight to ensure long-termsustainability. The Board's Strategy and Sustainable Development Committee provides governance andaccountability for sustainability matters, supported by a dedicated Sustainable Development LeadershipWorking Group that drives the implementation of ESG initiatives across the organization.
Sustainable Development Leadership Working Group
HSE Management OfficeScience and Technology Innovation OfficeHSE and Innovation Committee
Audit DepartmentAudit Committee
Remuneration and Assessment Committee
Nomination Committee
Strategy and Sustainable Development CommitteeBoard of Directors
ESG ManagementFramework
ESG Governance System
The company is guided by its core mission: to deliver exceptional service to customers, foster employeegrowth and development, generate holistic value for society, and maximize shareholder returns. The companyhas strategically integrated ESG principles into its corporate strategy, continuously refining its ESGgovernance framework with clearly defined objectives. While driving business performance, the companyremains committed to enhancing its sustainability practices, addressing stakeholder expectations, andcreating enduring societal value—all of which support its trajectory of sustainable, high-quality growth.
Board Strategy and Sustainable Development CommitteeAs the highest governing body responsible for the company's ESG matters, thecommittee establishes strategic directions for sustainable development,oversees and guides the implementation of ESG initiatives, and ensures theeffective execution of the company's ESG management activities.Sustainable Development Leadership Working GroupComprised of senior executives, this group formulates ESG management objectivesaligned with the company's current development phase and monitors progresstoward achieving these objectives.
These operational units implement specific ESG-related activities according toestablished management indicators and mechanisms, while regularly reportingprogress to the Sustainable Development Leadership Working Group.Centers/Departments and Subsidiaries
To further integrate sustainability principles and enhance the company's environmental, social, andgovernance (ESG) management capabilities, Great River Smarter Logistics held its 2024 ESG ReportProject Launch and Training Conference. The Chairman of Great River Smarter Logistics, Lin Haichuan,along with management personnel from various departments, attended the conference.
Chairman Lin emphasized that as a leading private petrochemical storage enterprise, Great River SmarterLogistics consistently integrates ESG principles into every aspect of its business operations anddevelopment. Through concrete actions, the company fulfills its social responsibility for sustainabledevelopment while striving to achieve a win-win outcome between economic returns and social benefits.Chairman Lin further stressed that Great River Smarter Logistics must focus on exploring and establishingan ESG disclosure framework that meets international standards, comprehensively demonstrating toshareholders, investors, and the public the company's unwavering efforts and firm commitments in theESG. In addition, Great River Smarter Logistics invited experts to provide training on global ESGecosystem trends, the impact of ESG on business operations and capital markets, and practical ESGmanagement implementation.
ESG Management Frameworkand Functions
ESG Management Structure
ESG Report Project Kick-off and Training Conference
Decision-Making
Level
Management
Level
Execution
Level
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability Report
Sustainable Development (ESG) Management
Double materiality analysis serves as a core principle guiding the company's annual ESG reporting, long-term ESGstrategic goal setting, and stakeholder communications. Great River Smarter Logistics evaluates ESG topics fromboth financial materiality and impact materiality perspectives, analyzing how these issues affect the company'sbusiness model, operations, development strategy, and other core sustainability areas. The company assesses thepotential financial impact of each topic in the short, medium, and long term, while also considering how thecompany's performance on these issues influences the external environment and society. In 2024, Great RiverSmarter Logistics further identified and disclosed financially or impactfully material topics by considering industrycharacteristics, development stage, business model, and value chain position. The company established its ESG topiclist through international standard benchmarking, referencing the "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 17—Sustainability Report (Trial)," "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guide No. 3—Sustainability Report Preparation (Draft for Comments)," UN Sustainable DevelopmentGoals (SDGs), GRI Universal Standards 2021, ISO 26000, SASB topics, and other sustainability-related standards, aswell as ESG rating frameworks from MSCI, CDP, CSI, Wind, and other ESG rating service providers. Additionally, thecompany identified and consolidated applicable general and industry-specific topics by referencing macro andindustry-specific policies in operating locations and materiality topic prioritization approaches of peer companies.
Materiality AssessmentProcess
Company Value Chain AnalysisGreat River Smarter Logistics analyzed ESG risks across its own operations and throughout its upstream anddownstream value chain in the storage and logistics sector. Considering industry characteristics, nationaltechnological development trends, and global low-carbon transition, the company analyzed risks that could impactfuture performance, revenue, and production costs. The company also conducted due diligence with stakeholdersincluding shareholders and investors, customers, government and regulatory bodies, employees, suppliers, andbusiness partners.Topic List Development
Topic Materiality Assessment and ConfirmationFor impact materiality, Great River Smarter Logistics applied the FMEA (Failure Mode and Effects Analysis) three-element model, quantitatively evaluating impacts across four dimensions: scale, scope, irremediability, andlikelihood. These were aggregated using a multiplicative approach to calculate a Risk Priority Number (RPN).
For financial materialitywe introduced temporal dimensions of short, medium, and long-term, applying weighted scoring to financialimpacts across different timeframes to derive a comprehensive financial materiality score.
Great River Smarter Logistics constructed a materiality analysis matrix based on assessment results, prioritizingtopics by materiality. For high-materiality topics, the report provides detailed disclosure.The company established thresholds for topics and prioritized them accordingly, ensuring resources areconcentrated on the most critical ESG issues, effectively driving the company's sustainable development.
Topic Reporting
We referenced international and domestic sustainability standards to establish a list of ESG topicsincluding environmental topics, social topics, and sustainable governance topics.
8135
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability Report
Sustainable Development (ESG) Management
Great River Smarter Logisticsidentifies shareholders/investors,customers, suppliers, employees,government/regulatory agencies,communities, and the environmentas key stakeholders in itscorporate social responsibilityframework. Different businessdepartments are responsible forcommunicating with variousstakeholders and conveying theirconcerns and expectations withinthe company. To achievesustainable development, GreatRiver Smarter Logistics hasdefined these groups as itsprimary stakeholder categories inaccordance with the AA1000 SESStakeholder EngagementStandard.
Stakeholder Communication
Stakeholder CategoriesCommunication Channels and FrequencyFocus AreasCompany Responses
ShareholdersInvestors
Investor hotlineEmail newsletterShareholders meetingsEarnings release meetingInvestor relations website updateInterim announcements
Corporate governanceClimate change responseData security and customer privacy protectionEnergy utilizationSupply chain security
Strengthened Board oversightAdvanced carbon neutrality goalsEnhanced data protection encryptionOptimized energy structureImproved supply chain resilienceIncreased financial transparency
Customers
Conference callEmail correspondenceCustomer visitsOnline chatAnnual meetingsCustomer feedback surveys
Reduced carbon emissionsImproved governance structureEnhanced product safetyOptimized employee benefitsStrengthened data protectionIncreased communication transparency
Suppliers
Email correspondenceConference callSite visitsSupplier conferencesInstant messagingBusiness review meetings
Climate change responseWaste managementGreen operationsEnergy utilizationEnvironmental compliance managementCircular economy
Established clear emission reduction targetsImplemented classified recyclingOperated energy-efficient systemsPrioritized renewable energyConducted rigorous environmental auditsPromoted resource recycling
Employees
Internal emailsEnterprise WeChatTownhall meetingsTraining sessionsPerformance evaluationsEmergency meetings
Government andRegulatoryAuthorities
Articles of AssociationPolicy feedback meetingsRegulatory compliance reviewsEmergency notificationsRegular regulatory communicationsIndustry seminars
Community and
Environment
Community meetingsEnvironmental reportsOnline forumsOpen daysNewslettersEmergency notifications
Climate change responseWaste managementGreen operationsEnvironmental compliance managementWater resource utilizationEcosystem and biodiversity protection
Climate change responseCorporate governanceProduct and service safety and qualityEmployee mattersData security and customer privacy protectionStakeholder communication
Employee rights and benefitsCorporate governanceData security and customer privacy protectionEnvironmental compliance managementSupply chain securityOccupational health and safety
Implemented employee development programsMaintained transparent governance structureReinforced privacy protection encryptionUpheld environmental operational standardsEnhanced supply chain transparencyProvided health and safety trainingClimate change responseCorporate governanceProduct and service safety and qualityData security and customer privacy protectionEmployeeEnvironmental compliance management
Reducing carbon emissionsEnhancing Board functionalityImproving product safetyStrengthening data encryptionOptimizing employee benefitsReinforcing environmental monitoringReducing carbon emissionsPromoting recyclingImplementing green office practicesStrengthening compliance reviewsOptimizing water efficiencyPreserving biodiversity
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability Report
Sustainable Development (ESG) Management
In 2024, Great River Smarter Logistics continued to identify sustainable development topics and conduct materialityassessments and screening. The report provides corresponding disclosures and responses regarding themanagement and practical performance of the 26 identified topics. The material topics in 2024 have notchanged significantly compared to 2023, with relevant adjustments primarily reflecting industry developmenttrends.The key material topics for Great River Smarter Logistics include climate change response, corporate governance,waste management, product and service safety and quality, employee matters, and supply chain security.
Materiality AssessmentConclusions
Great River Smarter Logistics Materiality Assessment ResultsVery Important
Very ImportantNot Important
1 2345678910
1011
Importance to Economic, Social and Environmental Impact
Importance to Company Financial Performance
Core Topics
Climate Change ResponseCorporate GovernanceWaste ManagementProduct and Service Safety and QualityEmployee MattersSupply Chain Security
EnvironmentalSustainable Development GovernanceEnvironmentalSocialSocialSocial
Financial Materiality
Topics
Impact MaterialityTopics
General Topics
Green OperationsInnovation-Driven DevelopmentDue DiligenceData Security and Customer Privacy ProtectionStakeholder CommunicationAnti-Commercial Bribery and Anti-Corruption
EnvironmentalSocialSustainable Development GovernanceSocialSustainable Development GovernanceSustainable Development Governance
Energy UtilizationEnvironmental Compliance ManagementWater Resource UtilizationAnti-Unfair CompetitionCustomer Service and Rights Protection
EnvironmentalEnvironmentalEnvironmentalSustainable Development GovernanceSocial
Social ContributionEmployment PromotionFreight Efficiency and QualityCircular EconomyNational Strategy ResponseEqual Treatment of SMEsTechnology EthicsRural RevitalizationEcosystem and Biodiversity Conservation
SocialSocialSocialEnvironmentalSocialSocialSocialSocialEnvironmental
EnvironmentalSocialSustainability Governance
QuadrantOverall RankingMaterial TopicCategory
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability Report
Sustainable Development (ESG) Management
ESG Management Strategyand SDGs Response
PositioningStrategic Direction
CorporateGovernance
Enhancecomprehensivesustainabledevelopment
Steadily increase management diversity, gradually raising the proportionof female managers to20%
Female executives represent of leadership; independent directors account for20% 42.85%Improve the company's ESG management system, build a multi-tier structure,and link ESG management objectives to executive KPIs
Under the guidance of the Board’s Strategy and Sustainable Development Committee, continuously deepened the implementation of ESG
principles in company operations, formulated sustainable development management policies and objectives, and linked ESG management
targets with executive KPIsEnhance financial materiality topic disclosure framework and explorequantitative analysis models
Completed qualitative disclosure of the financial impact dimension for double materiality topicsEstablish integrityandcompliancebusiness culture
Maintain coverage of business ethics training for employeesMaintain signing rate of "Anti-corruption Commitment" by employees
100%100%
146 employees received anti-corruption training, accounting for of total employeesof employees signed the "Anti-corruption Commitment"
8.48%
100%Communicate company anti-corruption policiesand procedures to all business partners
Anti-corruption policies and procedures were communicated to of business partners100%
Strengthendisclosuretransparency and investor returns
Enhance communication with investors, develop sound dividend and buyback strategies, focus on market capitalization management
Strengthen information disclosure and communication in corporate sustainability
Published periodic reports interim announcements
Published ESG reports and quantitative performance statistics for consecutive years
4240
Steadily improve mainstream ESG ratingsWind ESG rating of AA
Products and Services
Integrate greenconcepts deeply into core business
Develop green storage and transportation services
Implemented pollution control and improvement projects across storage facilities; in 2024,
reduced VOCs by tons, COD by tons, and ammonia nitrogen by tons
485.35230.87 0.167667Build smart warehouse management platform
Continuously strengthened the company's digital intelligence capabilities, optimized multiple functions of the five major information platformsfor smart warehouse management, and improved operational efficiencyStrengthen qualitymanagement systemsand customer service
Continuously increase quality management system certification coverage
The company and its major subsidiaries obtained ISO9001 quality management system certificationContinuously improve customer satisfaction
In 2024, terminal tank storage customer satisfaction reached , chemical warehouse customer satisfaction reached
customer complaint resolution rate was , with major customer complaints for the year
97.15%98.13%100%0Continuouslystrengthen R&Dand innovationcapabilities
Increase investment in scientific research and innovationIn 2024, annual R&D investment totaled million yuan, with R&D personnel, and 17 patent applications
51.6062259
Mid-term Action Objectives2024 Progress
Explore AI empowerment and introduce domestic open-source models
In 2024, the company explored applications of large language models in chemical warehouse logistics industry scenarios such as hazardouschemical safety management and supply chain visualization, empowering business intelligence and digital upgrades to enhance operationalcapabilities and customer service satisfaction
Held earnings release meetingsConducted reverse roadshows (visited 60 institutional investors)Hosted investor research meetings: online & offlineDisclosed investor relations activity recordsResponded times on the exchange's investor communication platformReceived broker research recommendationsCompany consecutively reviewed "Three-Year (2019-2021) Shareholder Return Plan" and "Three-Year (2022-2024) Shareholder Return Plan,"fully considering and listening to shareholders, especially public investors and independent directors, improving profit distribution decision-makingand supervision mechanisms, providing reasonable investment returns
3242
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability Report
Sustainable Development (ESG) Management
Climate andEnvironmental
Protection
Improve sustainable
low-carbondevelopment goals
Continuously enhance and optimize environmental management systems
In 2024, no environmental pollution incidents occurred; the company completed ISO14001 environmental managementsystem certification and obtained green port certifications
Explore carbon reduction mechanisms in responseto the national "dual carbon" strategy
Conducted climate risk identification, established a climate change risk and opportunity inventory, and formulated corresponding responsemeasures; gradually implemented carbon verification work, with plans to progressively advance carbon target setting in 2025Systematically promote clean energy transition
In 2024, the company employed distributed photovoltaic technology to strengthen local consumption of renewable energy,generating kWh of green electricity244,008Improve resourceutilization
Continuously optimize energy management systemsIn 2024, cumulative electricity consumption was reduced by million kWh, a year-on-year decrease of
1.72514.74%
Continuously optimize water resource management systems
In 2024, Great River Smarter Logistics consumed a total of tons of tap water, reducing water consumption by tons,a year-on-year decrease of ; reclaimed water utilization reached tons for the year
478,90032,100
6.28%21,751.00
Maintain labor contract signing rate and social insurance coverage 100%100% In 2024, labor contract signing rate for all formal employees was, with social insurance coverage 100%100%
Maintain occupational disease examination coverage for active employees100%In 2024, occupational disease examination coverage for active employees was , with an occupational disease incidence rate of100% 0%Maintain industry-leading employee training coverage and duration
Continuously optimized the "e-Learning" online learning platform of GR Management Academy;in 2024, vocational training investment amounted to million yuan,with employee training coverage and hours of training per person on average
3.0641
100%36IndustryCooperation & Social
Responsibility
Promote greendevelopment acrossthe industry chain
100% of new suppliers were evaluated using ESG dimensions;continuously enhanced the influence of ESG assessments in existingsupplier evaluations
Promoted continuous improvement of supplier partners' ESG performance, conducted annual comprehensive evaluations,with of suppliers signing business integrity clauses100%Promote community prosperity
Continuously increase investment in community development and public welfare
In 2024, the company's charitable donations totaled million yuan;approximately employees participated in public welfare/volunteer activities, contributing approximately hours of volunteer service
1.4517
42314,164.69
No major human rights violations; build a diverse,inclusive, and equal workplace environment
No major human rights violations were identified; continued to advance scientific and reasonable salary adjustment processes, improved promotion systems and mechanisms, and enhanced the diversified benefits systemContinuously improve safety production management system
The company completed ISO45001 occupational health and safety management system certification; in 2024,there were zero work-related fatalities among employees, suppliers, and contractors; conductedsafety training sessions (203 drills + 404 safety education trainings)
TalentDevelopmentand Care
Safeguard healthand employeedevelopment
PositioningStrategic DirectionMid-term Action Objectives2024 Progress
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability Report
Sustainable Development (ESG) Management
Corporate GovernanceCorporate Governance and Sound ManagementCorporate Governance StructureBoard of DirectorsStandardized Remuneration ManagementInvestor Rights ProtectionEnhancing Performance CapabilityBusiness EthicsAnti-CorruptionWhistleblower ProtectionAnti-Unfair CompetitionRisk Control and Compliance ManagementRisk ControlRelated Party Transaction ManagementData Security and Privacy ProtectionTax ComplianceIntellectual Property Protection
Great River Smarter Logistics considers sound corporate governance as a cornerstone for achievingsustainable development. The company is dedicated to establishing a scientific, efficient, andtransparent governance framework. It strictly adheres to the Company Law and Securities Law of thePeople's Republic of China, among other legal requirements. The organization continuously enhancesits foundational governance documents, including its articles of association and procedural rules forGeneral Meeting of Shareholders, Board of Directors, and Board of Supervisors. Through these efforts,the company has developed a governance structure characterized by clearly defined responsibilities,effective checks and balances, and coordinated operations.
Corporate Governance andStable Operation
Corporate Governance Structure
Corporate Governance Structure
Board of Supervisors
Management Team
CEO's OfficeTerminalTank Operation Center
Terminal TankOperationHSE
HSE and Innovation CommitteeStrategy and Sustainable Development Committee
Nomination CommitteeAudit Committee
Compensation and Evaluation Committee
Chemical Warehousing Integrated Logistics
Audit Department
Technology andInnovation OfficeHSE Management Office
Board of Directors
Finance CenterAdministrative CenterBoard ofDirectors OfficeInfrastructure andProcurement CenterTerminal TankBusiness Center
Terminal Tank Sector
BusinessManagementDepartment
CustomerServiceDepartment
TerminalTank MarketRisk ManagementComprehensiveManagementCustomer ServiceShip Business CustomsTerminal TankMarketing Department
East ChinaOperationsSubcenter
Terminal TankOperation ComprehensiveManagement Office
South ChinaOperationsSubcenter
ComprehensiveLogistics OperationCenter of ChemicalWarehouseComprehensiveLogistics BusinessCenter of ChemicalWarehouseChemical WarehouseComprehensiveLogistics ManagementDepartment
Chemical WarehouseMarketing DepartmentKey AccountsDepartmentCustomer ServiceDepartmentRisk ManagementDepartmentStandardizedManagementOffice of ChemicalWarehouseChemical WarehouseComprehensiveManagement OfficeChemical WarehouseBusiness ComprehensiveManagement OfficeHSETransport FleetManagementChemical WarehouseOperations
Infrastructure andProcurement DepartmentAdministration
Department
Terminal Tank OperationsDepartment
HSE DepartmentFinancialDepartment
Terminal Tank Business Department
Chemical WarehouseOperations Department
Chemical WarehouseBusiness Department
GR Storage Areas
IT and Automation SubcenterIT and Automation SubcenterProject Management SubcenterEquipment Management SubcenterAdministrative Logistics SubcenterHuman Resources Subcenter
Investment DepartmentCapital ManagementDepartment
Guangdong Great River Smarter Logistics Co., Ltd.
General Meeting of
Shareholders
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
The company places strong emphasison institutional development,consistently regarding the refinementof its regulatory framework as anessential safeguard for enhancingmanagement capabilities, mitigatingoperational risks, and achievingsustainable development. During thereporting period, the companyformulated/revised several keydocuments including the Articles ofAssociation, Independent DirectorWorking System, Working Rules forthe Board's Audit Committee, WorkingRules for the Board's Strategy andSustainable Development Committee,and Working Rules for the President,forming a scientific, systematic,comprehensive, and efficientlyoperating institutional framework thatprovides solid support for thecompany's high-quality development.
InstitutionalFrameworkDevelopment
Board of Directors
Operation of Three Key Governance BodiesShareholders and General Meeting of ShareholdersThe General Meeting of Shareholders, comprising all shareholders, is the company's highest authority. GreatRiver Smarter Logistics strictly adheres to the requirements stipulated in the Securities Law, CompanyLaw, and other relevant laws, regulations, normative documents, as well as the Articles of Associationand Rules of Procedure for the General Meeting of Shareholders. We standardize procedures forconvening, conducting, and voting at shareholders' meetings, treat all investors equally, and ensurethat shareholders—especially minority shareholders—can fully exercise their rights and have theirinterests effectively protected.During the reporting period, the company conducted all shareholders' meetings in accordance with theArticles of Association and the Rules of Procedure for the General Meeting of Shareholders, with legalcounsel present to witness the proceedings.During the reporting period: The company held General Meetings of Shareholders, reviewing proposals.
Directors and the Board of DirectorsThe company currently has 7 directors, including 3 independent directors who are professionals in accounting,industry operations, and investment, constituting more than one-third of the total board membership.The size and composition of the Board of Directors comply with legal requirements and the Articles ofAssociation. The Board of Directors has established five committees: the Audit Committee, theRemuneration and Evaluation Committee, the Strategy and Sustainable Development Committee, theHSE & Innovation Committee, and the Nomination Committee, further enhancing the company'sgovernance structure.During the reporting period: The company held Board of Directors meetings, reviewing proposals.1474Board DiversityProfessional Background Diversity: Members of the company's Board of Directors possess diverseeducational backgrounds, professional experience, and academic achievements in fields such aspetrochemical industry, finance, accounting, law, and human resources.Compositional Diversity: The Board of Directors consists of 7 members, including 3 independentdirectors, representing 43% of the board. The directors span multiple age groups, including individuals intheir 40s, 50s, 60s, and 70s. Currently, the Board does not include any female members.Organizational Background Diversity: Board members come from various organizations includingacademic institutions, industry associations, and investment firms. This organizational diversity ensuresthat members possess the necessary professional knowledge, industry experience, and decision-makingcapabilities required to fulfill their duties. The diverse industry experiences of board members enhancethe scientific rigor and comprehensiveness of decision-making.Geographic Diversity: Board members represent a wide geographic distribution, with directorsbased in North China, East China, and South China regions. This geographic diversity ensures thatmembers can represent the company's operations across all major markets, thereby strengtheningthe Board's strategic insight.
Articles of AssociationRules of Procedure for the General Meeting of ShareholdersRules of Procedure for the Board of DirectorsRules of Procedure for the Board of SupervisorsWorking Rules for the HSE &Innovation Committee of the Board of DirectorsWorking Rules for the Nomination Committee of the Board of DirectorsWorking Rules for the Remuneration and Evaluation Committee of theBoard of DirectorsWorking Rules for the Audit Committee of the Board of DirectorsWorking Rules for the Strategy and Sustainable Development Committeeof the Board of DirectorsIndependent Director Working SystemWorking Rules for the PresidentWorking System for the Secretary of the Board of DirectorsRemuneration Management System for Directors,Supervisors andSenior ManagementManagement System for Shareholdings and Changes in Shareholdingsof Directors, Supervisors and Senior ManagementRules for Meetings of Convertible Corporate Bond Holders
Articles of Association
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
Reelection of the Board of Directors and Board of Supervisors
Supervisors and the Board of SupervisorsThe Board of Supervisors currently consists of 3 supervisors, including 1 employee representativesupervisor. The size and composition of the Board of Supervisors comply with legal requirements andthe Articles of Association.During the reporting period, the Board of Supervisors strictly followed the Articles of Association andthe Rules of Procedure for the Board of Supervisors when convening and conducting supervisory boardmeetings. All supervisors, with a responsible attitude toward shareholders, diligently fulfilled theirduties by effectively monitoring and providing opinions on major company matters, financialconditions, related party transactions, and the performance of directors and senior management,thereby safeguarding the legitimate interests of the company and its shareholders.During the reporting period: The company held Board of Supervisors meetings, reviewingproposals.
1242
Specialized Committees
The Board of Directors has established five specialized committees: the Audit Committee, theRemuneration and Evaluation Committee, the Strategy and Sustainable Development Committee, theHSE & Innovation Committee, and the Nomination Committee. Each specialized committee performs itsspecific duties, with members diligently fulfilling their responsibilities, ensuring that all decisions aremade scientifically, democratically, and in accordance with legal requirements.CommitteeName
ResponsibilitiesAuditCommittee
Remunerationand Evaluation
Committee
Responsible for formulating remuneration standardsand plans for the company's directors and seniormanagement; reviewing the performance of directorsand senior management and conducting annualassessments; supervising the implementation of thecompany's remuneration systemStrategy andSustainableDevelopmentCommittee
Responsible for researching and providingrecommendations on the company's long-termdevelopment strategy, major investment decisions,and sustainable development risks and opportunitiesHSE & InnovationCommittee
Responsible for researching and providingguidance on the company's long-term planning,annual plans, and phased plans for HSE andinnovation
Responsible for communication, supervision, andverification of the company's internal and externalaudits, and review of the company's financialinformation and its disclosure
Number ofMembers
Number ofIndependentDirectors
Number ofMeetings HeldDuring the Year
Number ofProposalsReviewed
4044
NominationCommittee
Responsible for researching and recommendingselection criteria, qualifications, and assessmentprocedures for candidates for the company'sdirectors and senior management positions;extensively searching for qualified candidates forthe company's directors and senior managementpositions, and making recommendations to theBoard of Directors regarding appointments anddismissals
On July 4, 2024, the company convened the Third Extraordinary General Meeting ofShareholders of 2024, the First Meeting of the Fourth Board of Directors, the First Meeting ofthe Fourth Board of Supervisors, and the Employee Representative Assembly, completing thereelection of the company's Fourth Board of Directors and Board of Supervisors.
Mr. Lin Haichuan, Chairman of Great River Smarter Logistics, on behalf of all colleagues,expressed sincere gratitude to the independent directors of the Third Board of Directors whoseterms had expired, thanking them for fulfilling their duties during their tenure with a high senseof responsibility, mission, and passion. During the First Meeting of the Fourth Board ofDirectors, Chairman Lin Haichuan welcomed the newly appointed independent directors,expressing hope that they would leverage their unique perspectives and professional knowledgeto play an active role in promoting the company's standardized operations and protecting thelegitimate rights and interests of investors.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
As the company's operations have expanded year after year, it has consistently worked to enhance itscorporate governance structure. These improvements aim to strengthen the organization's capacity fordemocratic, scientific, and efficient decision-making processes.To enhance executive decision-making effectiveness, ensure successful implementation of corporatestrategies, and safeguard high-quality sustainable development, the company has actively innovated itsmanagement approach by implementing a rotating presidency system. The rotating president bearsresponsibility for the company's overall operations and management, serving as the highest authorityfor both business operations and crisis management. Additionally, the company addresses criticaloperational matters through Executive Management Team (EMT) meetings, where important businessissues are studied, resolved, and planned. This approach leverages internal information sharing andcollective decision-making mechanisms to enhance the quality of strategic decisions.
Management Team
Management Team CompositionAs of the date of this report, the company hassenior management personnel.
Rotating President System
Protection of Minority Investors
The company ensures that independent directorsconstitute a significant proportion of the Board ofDirectors to balance the interests of all parties. Specialmeetings for independent directors are convenedperiodically for major issues to ensure companyoperations comply with legal regulations and industrystandards.The Board's Audit Committee, Remuneration Committee,and Nomination Committee are all led by independentdirectors, ensuring the independence and fairness ofdecision-making.Board members regularly participate in training to ensurethey stay current with the latest industry trends, legalregulations, and governance practices, enhancing theirprofessional knowledge and decision-making capabilities.
Improving Governance Structure
Optimizing Voting Mechanisms
Online Voting: The company has implemented an online voting platform that enables minority shareholdersto participate in the General Meeting of Shareholders remotely. This initiative significantly increases theirengagement in corporate governance processes. Throughout 2024, investor participation in the GeneralMeeting of Shareholders consistently exceeded 50%.Classified Voting: The company employs a classified voting mechanism for significant matters such asrelated-party transactions and equity incentive plans. This approach ensures that the voting rights of minorityshareholders are fully respected and protected.Cumulative Voting: The company actively implements a cumulative voting system for board memberelections. This practice strengthens the voice of minority shareholders and promotes board diversity, creatinga more equitable and transparent governance environment.
Establishing Communication Channels
The company has established a dedicated investor relations department.In 2024, the department answered investor calls with a response rate, and regularly checkedinvestor emails. On the Shenzhen Stock Exchange Interactive Platform, the company responded toinvestor questions with a response rate. The company participated in the "Online CollectiveInvestor Reception Day" organized by Guangdong Securities Regulatory Bureau and Guangdong ListedCompanies Association, engaging in text-based interactive communication with investors andresponding to investor questions. The company also held earnings conference calls for the 2023Annual Report and the 2024 Q1, Half-Year, and Q3 Reports (hosted on Panorama Network), respondingto a total of real-time questions during the interactive sessions.
95100%
100%
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
Standardized Remuneration Management
The company has established fair and transparent performance evaluation standards and incentivemechanisms for its directors, supervisors, and senior executives. The appointment process for seniormanagement positions is conducted with openness and transparency, strictly adhering to relevant legal andregulatory requirements. Non-independent directors, supervisors, and senior executives of the companyreceive compensation based on their positions and responsibilities. The specific annual base salary standardsand performance-based compensation allocations are determined through comprehensive evaluationsconducted by the board's Remuneration and Evaluation Committee. For independent directors serving in thecompany, allowance standards are proposed by the Board of Directors and approved by the General Meetingof Shareholders. For supervisors serving in the company, allowance standards are proposed by the Board ofSupervisors and approved by the General Meeting of Shareholders.
Investor Rights Protection
Annual Dividends/Share RepurchaseThe company places high importance on shareholder returns and strictly implements profit distributionplans in accordance with the Company Law, the Articles of Association, relevant profit distributionpolicies, and review procedures. The dividend standards and proportions are clear and explicit, withcomprehensive decision-making procedures and mechanisms in place. The company's profitdistribution plan aims to maximize shareholder value as its core objective, ensuring that shareholderscan share in the company's development results. Meanwhile, profit distribution balances short-termreturns with long-term development, ensuring that while rewarding shareholders, the company retainssufficient funds for future investments and operations.In 2024, the company implemented two profit distributions and one share repurchase, involving a totalamount of RMB million. In the future, the company will continue to optimize its profitdistribution policy to ensure fairness, transparency, and sustainability, creating greater value forshareholders.
195.3935
Information Disclosure
During the reporting period, the company's board of directors fulfilled its information disclosureobligations in a truthful, accurate, complete, and timely manner. This was done in accordance with theCompany Law, Securities Law, Shenzhen Stock Exchange Listing Rules, Shenzhen Stock Exchange Self-Regulatory Guidance No. 1 for Listed Companies on the Main Board, as well as the company'sInformation Disclosure Management System and Board Secretary Working System. These effortsensured investors remained promptly informed of significant corporate developments, therebymaximizing the protection of investor interests.During the reporting period:
The company disclosed announcements and intermediary agency documentsThe number of announcements issued by the company ranked th among all A-share listedcompanies and 21st among companies listed on the Shenzhen Main BoardSince IPO:
The company has made corrections to annual reports
Investor Relations Management
The company has established the Investor Relations Management System and the Investor ComplaintHandling System, conscientiously implementing regulatory requirements for investor protection andattaching great importance to investor relations management. The company maintains open lines ofcommunication with investors through various channels, including a dedicated investor relationshotline, email correspondence, the Interactive Platform, and the corporate website. These resourcesallow investors to stay informed about the company's operational performance, investment strategies,and other key developments. The company selects media outlets that meet the requirements forsecurities market information disclosure and CNINFO (http://www.cninfo.com.cn) as its informationdisclosure media, ensuring that all company shareholders have equal access to information.
2024 Highlights:
Investor meetings and research exchanges:
sessions
Total investor participants:
person-times
Investor relations activity disclosure reports:
During the reporting period, the company strictly adhered to established decision-making proceduresfor compensation, ensuring timely payment to directors, supervisors, and senior executives. Non-independent directors, supervisors, and senior management received monthly base salary paymentsaccording to their positions and responsibilities, while performance-based compensation wasdistributed based on evaluation cycles. Allowances for independent directors and supervisors aredisbursed on a monthly basis.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
Enhancing Performance CapabilityThe company has established Rules of Procedure for the Board of Directors that detail protocols for meetingnotifications, convening sessions, conducting proceedings, and voting procedures. These comprehensiveguidelines ensure all proposals undergo compliant and efficient review by the board. Additionally, thecompany has adopted a systematic approach by thoroughly reviewing past practices, streamlining workflows,and implementing a rational, well-structured schedule for board meetings. To address the geographicaldifferences of directors, the company has implemented a hybrid voting system that combines in-person andremote participation options. Concurrently, an electronic signature platform for meeting documents has beendeployed, reducing paperwork and enhancing decision-making efficiency.
Throughout 2024, the Board of Directors reviewed a range of strategic matters including the 2024 StockOption Incentive Plan, adjustments to convertible bond conversion prices, share repurchase initiatives,periodic financial disclosures, the ESG report, annual and third-quarter dividend distributions, and externalguarantees. These comprehensive governance efforts have elevated the company's management practices tonew heights.
Business Ethics
Anti-Corruption
Multiple Anti-corruption Measures as A Synergy to Safeguard High-quality
Corporate Development
In 2024, all directors of the company diligently fulfilled their duties, with a
attendance rate at board meetings.100%
Great River Smarter Logistics is committed to fostering a fair, transparent, and ethical working and businessenvironment, maintaining zero tolerance for bribery, extortion, and corruption in all interactions betweenemployees and business partners. To strengthen its anti-corruption initiatives, Great River Smarter Logisticsestablished a Discipline Inspection Committee in 2023, harmonizing rigorous party discipline with enhancedcorporate governance. The committee fulfills its supervisory role through a comprehensive approach thatincludes institutional development, deterrence mechanisms, and educational outreach—all designed tosafeguard the company's sustainable, high-quality growth.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
Upholding Business Ethics
Great River Smarter Logistics adheres to compliant operations and places great importance on businessethics management. The company has established an Enterprise Management Committee comprisingsystem specialists from across business divisions, subsidiaries, and functional departments. Thiscommittee ensures operations comply with relevant laws and regulations, adhere to internal policiesand procedures, and meet the expectations of external stakeholders. In 2024, the EnterpriseManagement Committee enhanced its compliance oversight across all business operations, promptlyaddressing potential risks. The committee developed tailored accountability frameworks for leadershipteam members and implemented the "dual responsibility" principle, encouraging executives tostrengthen areas of weakness and improve performance quality. This comprehensive approachestablished an integrated chain of responsibility fulfillment, supervision, evaluation, and accountability.By ensuring disciplined governance at every organizational level, the company has successfully alignedparty oversight with corporate controls, creating a robust integrity framework that safeguards againstoperational risks. During the reporting period, Great River Smarter Logistics had no legal proceedingsrelated to unfair competition or anti-monopoly practices.
Implementing mobilization and deployment, strengthening principal responsibilityTo strengthen integrity management, Great River Smarter Logistics's Discipline Inspection Committee hasdeveloped several key frameworks including the "Implementation Plan for Integrity and Self-disciplineSupervision," "Procedures for Identifying and Mitigating Integrity Risks," and "Management Regulations onError Tolerance and Correction Mechanisms." Working alongside party organizations, the committee hasestablished annual work plans and conducted specialized risk assessment meetings. Party branches aretasked with systematically reviewing departmental roles, responsibilities, authorities, and workflows toidentify potential integrity vulnerabilities, evaluate risk levels, and implement appropriate controls. Thecompany has also instituted "Measures for Handling Employee Disciplinary Violations (Trial)" andregularly updates these protocols based on findings from corruption investigations.Regular Supervision and Inspection, Focus on Implementation of CorrectionsResponsibility entities at all levels exert efforts layer by layer to ensure responsibilities are fulfilled. Thecompany has strengthened oversight throughout the inspection and audit remediation process,maintaining quality controls for issue resolution. Implementation of the "dual signature" verification systemensures thorough and effective remediation of identified concerns. Focusing on key areas and critical linkssuch as quality service, solicitation of bribes, and production safety, the company conducts regularsupervision and inspections, precisely applying the party organization's "Three Cups of Tea" heart-to-heartconversation system to address issues early and prevent minor problems from developing into major ones.
Integrity Management SystemTo foster a fair, just, and transparent workplace, the company has implemented a comprehensive anti-corruption framework built on the "dare not, cannot, and do not want to" principles. This systemrigorously prevents and penalizes bribery, embezzlement, fraud, and other corrupt practices.
Specific measures include
Key Performance
All 7 directors received anti-corruption training, with an average duration of hour,continuously strengthening anti-corruption awareness and responsibility at the director level.
Anti-corruption MeasuresStandardized positions with risks of commercial bribery and duty encroachment. Based on businessdevelopment and position adjustments in 2024, risk positions were reassessed, and relevant systemsand processes were improved.Incorporated anti-commercial bribery clauses into the company's standard commercial contracts. Theclauses were optimized based on changes in laws and regulations and industry best practices to ensurethey are more targeted and operational.Conducted training and education for employees in relevant positions, requiring them to sign the"Integrity Commitment Letter." In 2024, the company intensified its training and communication effortstargeting newly hired employees, those changing positions, and personnel in high-risk roles. Theseinitiatives ensure all staff members fully understand the company's integrity standards and theirindividual responsibilities.Established multiple reporting channels including telephone, email, letters, and website. In 2024, thecompany enhanced its whistleblowing mechanisms, improving both accessibility and confidentiality.Concurrently, increased promotion of these reporting channels has raised awareness and encouragedgreater utilization among stakeholders.Combined internal and external efforts, with the company's Discipline Inspection Committeeresponsible for internal supervision and third-party lawyers responsible for external due diligence.Developed annual inspection plans, conducting 1-2 special inspections annually, integrated with auditwork, and accepting real-name, evidence-based reports on-site. Throughout 2024, the company refinedits audit focus and methodology based on key business priorities and identified risk areas, ensuringmore targeted and effective inspection processes.Incorporated integrity requirements into the supplier management mechanism, requiring suppliers tosign the "Integrity Partnership Agreement."
During the reporting period, the number of anti-corruptionwhistleblowing cases was .
146 employees received offline anti-corruption training, with an average duration of hours.Training coverage was further expanded, and training duration was optimized according to actual needs to ensure training quality.
Creating a "dare not corrupt" workplace: Proactive anti-fraud measures, professional investigationand handling, and serious accountabilityBuilding a "cannot corrupt" governance environment: Organizational governance, institutionalstandardization, and democratic supervisionStrengthening the ideological foundation of "do not want to corrupt": Commitment signing,publicity and education, specialized learning, and organizational atmosphere
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
Conducting Anti-corruption Education, Raising Risk AwarenessGreat River Smarter Logistics continues to promote a culture of integrity through educationalinitiatives, employing diverse channels to communicate its anti-corruption policies and measures toemployees. At the corporate level, the Party Committee and Discipline Inspection Committee organizetheoretical study sessions to thoroughly examine the directives from the Third Plenary Session of the20th Central Commission for Discipline Inspection. The company conducts mobilization meetings forparty discipline education, with the Party Secretary leading discussions on the "Regulations onDisciplinary Sanctions of the Communist Party of China." Party branches conduct collective learningthrough established formats such as "Three Meetings and One Class" and thematic party days. Thesesessions reinforce the group's integrity culture concept of "Comprehensive Party Discipline andBuilding an Ethical GR," guiding party members and employees to understand and adhere toregulations, disciplinary standards, and legal requirements. For operational managers and frontlinestaff, the company leverages multiple communication channels including the Great River SmarterLogistics party-building platform, OA system, "Focus on GR" public account, and WeChat groups. Theseplatforms feature dedicated sections like "Ethical GR" and "Compliance Briefings." The companydistributes anti-corruption materials and cautionary case studies through these digital networks whilecomplementing online efforts with in-person training sessions and external learning visits. This dualapproach of positive ethics promotion and deterrent case examples ensures all employees learn,understand, and follow company regulations. In 2024, based on employee feedback and actual needs,the company optimized training content and methods to improve training effectiveness. Throughoutthe year, online and offline anti-corruption training sessions were conducted, with a total of
"Party Discipline as Our Compass" -Joint initiative between Great Riverand Songshan Lake Education Party
Committees
approximately hours of anti-corruption education for employees. (Note: Online learning materials wereprovided once a week for 49 weeks, 1 hour each time, with 146 participants, totaling 7,154 hours; 23 offlineactivities were conducted, each lasting 3 hours with approximately 15 participants per session, totaling about1,035 hours.)Great River Smarter Logistics has implemented "Employee Integrity in Professional Conduct Regulations" thatdefine the company's expectations for ethical behavior in both internal and external interactions. Theseguidelines clearly outline prohibited actions and their associated penalties, providing staff with unambiguousbehavioral standards that promote professional integrity across the organization. For newly hired employees,the company continues to conduct anti-corruption onboarding training and encourages employees to sign the"Anti-corruption Commitment Letter." At the same time, the company strengthens integrity reviews foremployees being considered for awards or promotions, effectively preventing violations and disciplinaryincidents. In 2024, the company promoted the signing of the "Anti-corruption Commitment Letter" by allpersonnel.The employee "Anti-corruption Commitment Letter" includes, but is not limited to:
Employees must refrain from engaging in bribery, accepting bribes, embezzlement, or any other improperbusiness conduct during their employment.Employees must avoid activities that conflict with company interests unless they have secured prior writtenauthorization.If any entity or individual connected to company business offers or requests gifts, employees must declineimmediately and promptly report the incident to management.
8,189
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
Fourth Party Branch (Taicang Power ShellTerminal) visitedvisited the Taicang RuralOfficials Ethics Center for "Compliance andProfessional Conduct" educational session
Tenth Party Branch organizedmembers to tour the "BuildingTrust, Cultivating Integrity" ethics
cultural exhibition route
Convened Party Member Assembly
to launch disciplinary education
program
Taicang Party Branch conductedthemed party day activity on "Learning,
Understanding, Clarifying, andUpholding Party Discipline”
Warning education session for
Party branch leaders and
committee members
Branch secretaries and partyrepresentatives visited the Anti-Corruption Warning Education Base
Branch assembly implementeddisciplinary education program
CPC Party Branch leaders delivered
presentation on party-widedisciplinary education directive
Members completed self-study of
party disciplinary regulations
The company has established six types of reporting channels for different groups, including hotlines, email, and the official website.
The "Whistleblowing Management Policy" explicitlymandates confidentiality protections: all employeeswith access to reported information must maintainstrict confidentiality regarding these disclosures. Theheads of organizations bear primary responsibility forwitness and whistleblower protection. They mustimplement appropriate safeguards to ensure theseindividuals' fundamental rights remain protected and toprevent any form of retaliation against them. In 2024,there were no incidents of privacy breaches involvinganonymous whistleblowers.Confidentiality of whistleblower informationincludes but is not limited to the followingsituations:
All personnel receiving whistleblower information mustforward it exclusively to the designated oversightdepartment without distributing to unauthorizedindividuals.Employees involved in case follow-up must maintainstrict confidentiality regarding reported information.Investigation findings and recommended actions mustremain confidential until the formal announcement ofdisciplinary decisions.Investigation reports and supporting evidence must notbe shared with unauthorized personnel.
Whistleblower Protection
Valuing Reports and Complaints, Creating a Clean and Upright Atmosphere
The Discipline Inspection Committee has implemented key policies including the "Whistleblowing Reward and Punishment System" and "Gift and CashManagement Measures (Trial)." These frameworks standardize procedures for handling reported violations, strengthen oversight mechanisms, and helpprevent misconduct. By protecting the legitimate interests of employees, customers, and business partners, these measures support the company'ssustainable growth and development. The company has also implemented a comprehensive whistleblower protection system. When the Discipline InspectionCommittee receives documented, non-anonymous reports, it initiates formal investigations resulting in detailed findings. Whistleblower confidentiality ismaintained throughout this process. Depending on investigation outcomes, case severity (whether proactive or reactive misconduct), and financialimplications, sanctions may range from employment termination to referral to legal authorities. A reward system recognizes whistleblowers and witnesses whocontribute to these investigations.
Reporting Channels
Processing Timing
Whistleblower Protection
Telephone0769-22893898
hcjw@grgroup.cc
Website
Great River Smarter Logistics Party-building
Platform Secretary's Mailbox:
http://appgrgroup.cc:9098
Great River Smarter Logistics Integrity and Discipline Office,
GR Building, Songke Yuan 1, Songshan Lake,Dongguan City, Guangdong Province, Postal Code 513830
In-personOffice of the Secretary of the Discipline Inspection Committee,
GR Building, Songke Yuan 1, Songshan Lake,Dongguan City, Guangdong Province
OthersOther forms deemed appropriate by the whistleblowerLetter
For incident processing timing, the Discipline Inspection Committee mandates that all responsible units adhere to the "Three Ones" timeline protocol,ensuring prompt acknowledgment and proactive case management."Three Ones" timeline requirements:
Respond within one working day: After receiving a report, respond to the whistleblower within one working day;Confirm case filing within one week: After receiving a report, confirm whether an investigation needs to be initiated within one week;Complete investigation within one month: After confirming case filing, complete the investigation and respond with results within one month.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
The company integrates risk management throughout its daily operations, having established comprehensiveinternal control systems covering organizational structure, human resources, safety protocols, financialmanagement, procurement, asset management, sales, project engineering, contract administration,guarantees, external investments, related-party transactions, and information disclosure. This frameworkensures all activities follow established guidelines within a standardized management system. The companyimplements enterprise-wide risk management based on principles of comprehensiveness, reasonableness,independence, and materiality. Each business unit/center maintains dedicated compliance and riskmanagement teams responsible for identifying and evaluating risks within their domains and developingappropriate control measures. This creates a multi-layered defense system with clearly defined "vertical"responsibilities across governance, management, and operational levels, complemented by "horizontal"coordination between business segments. At the same time, the company continues enhancing its informationtechnology infrastructure, transitioning key business process controls from manual to automated systems tostrengthen risk prevention capabilities. During the reporting period, the company implemented severaltechnological initiatives including intelligent inspection robots, self-service weighing systems, and budgetmanagement platforms.Internal Supervision and ControlOverall SupervisionThe company maintains a "risk-oriented, compliance-focused" approach to governance. From a riskmanagement perspective, each business division and functional center continuously evaluatesvulnerabilities in internal controls and identifies potential operational risks. Through standardizationand benchmarking initiatives, complemented by quarterly assessments of key business activities, majorprojects, and administrative functions, the company has established an effective bottom-up self-monitoring system.Audit SupervisionThe company's Board of Directors has established an Audit Committee that oversees the AuditDepartment, which operates independently while reporting directly to the committee. The AuditDepartment conducts ongoing supervision of business operations in accordance with the Internal AuditManagement System, evaluating internal controls and promptly communicating identified issues toresponsible departments. The department establishes specific remediation measures with cleartimelines and conducts follow-up inspections to ensure the completion of the audit cycle. During thereporting period, the Audit Department executed its annual audit plan with emphasis on core internalcontrols and management priorities, conducting thorough examinations of sales, procurement, andengineering processes, as well as significant cost expenditures.
Anti-Unfair Competition
In its daily operations, the company strictly adheres to relevant legislative frameworks including the Anti-Monopoly Law, Anti-Unfair Competition Law, and Civil Code of the People's Republic of China, alongside itsown business conduct standards. The company cultivates a business environment founded on principles offairness and mutual benefit, proactively mitigating monopolistic and unfair competition risks. It remainscommitted to earning customer trust through ethical competition and delivery of high-quality, reliableservices. Additionally, the company requires its business partners to uphold principles of fair competition andethical business conduct, prohibiting participation in activities that undermine market fairness or violateantitrust regulations.The company thoroughly evaluates customer requirements, delivering services grounded in business integritywhile abstaining from unfair competitive practices. Through its participation in procurement oversight, thecompany's Audit Department creates a comprehensive monitoring system that governs the conduct of allparties involved in bidding processes. This framework promotes honest business practices and faircompetition among the company's employees, customers, suppliers, and other stakeholders.Acquisitions represent a primary growth strategy for the company. Throughout merger processes, thecompany strictly adheres to antitrust regulations, while maintaining fair competition principles during post-acquisition integration.In 2024, the company reported no significant incidents related to alleged monopolistic practices or unfaircompetition.
Risk Control and ComplianceManagement
Risk Control
Risk Management Measures
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
The company has established a Related-Party Transaction Governance System that explicitly mandatesprinciples of integrity, fairness, and procedural compliance for all such transactions. This system alsospecifies clear requirements for decision-making procedures and disclosure obligations to ensure thattransactions with related parties adhere to principles of equity, fairness, and transparency, therebyprotecting the legitimate interests of all shareholders, particularly minority stakeholders.In 2024, the company's significant related-party transactions consisted exclusively of guarantees provided byrelated parties to the company and its subsidiaries without fees, demonstrating their commitment to thecompany's long-term strategic development. All material related-party transactions underwent rigorousreview and disclosure in accordance with regulatory requirements and company policies. Related partiesconsistently abstained from relevant voting procedures, ensuring that these transactions served the interestsof the company and its shareholders without adversely affecting operational performance.
Related Party Transaction Management
Tax Compliance
Intellectual Property ProtectionData Security and Privacy Protection
The company maintains a comprehensive information security management system built around ISO-compliant frameworks including the OA System Management Protocol, Data Center Management Guidelines,and Smart Customer Service Platform Governance Standards. Led by the Process and Digitalization Center,this security architecture ensures coordinated and supervised information security activities throughout theorganization. To mitigate potential system failures and safeguard information assets, the company hasimplemented IT Security Management Protocols that establish clear requirements for data backupprocedures, emergency power maintenance, data protection measures, and network security controls.Data Recovery StrategyImprove existing backup and recovery strategies to ensure correct backup and recoveryIncrease backup equipmentImprove the backup system to minimize data storage backup vulnerabilitiesDevelop documented backup and recovery strategiesIn 2024, Great River Smarter Logistics did not experience any information security-related violations.
Data Security
To enhance intellectual property protection, standardize IP management
practices, foster employee innovation, and accelerate the application of
technological achievements, the company has developed and implemented
Intellectual Property Management Regulations in accordance with national
legislation. Great River Smarter Logistics and all its subsidiaries adhere to
these protocols in managing their intellectual property assets.
As of the end of the reporting period, the company had accumulated
authorized patents, including authorized invention patents and
software copyrights. During the reporting period, there were no
intellectual property-related litigation or illegal situations.
2441
The company strictly complies with tax regulations and consistently adheres to the principles of payingtaxes according to law and with integrity.
Tax Compliance StatusThe company has implemented Tax Management Regulations that establish clear guidelines for taxationprinciples and filing procedures. These regulations institute a multi-tiered review process flowing fromsubsidiary finance departments through financial officers to the finance center. This comprehensiveapproach ensures rigorous oversight of all tax-related activities, compliance with statutory obligations,positive relationships with tax authorities, andGreat River Smarter Logistics effective mitigation of tax-related risks.Total tax payments in 2024:
175.07 million yuan
Attention to Tax Law PoliciesThe company maintains a comprehensive repository of tax regulations and adapts promptly to policydevelopments.Through regular assessment of potential tax exposures and dynamic risk management practices, thecompany effectively ensures regulatory compliance in its operations.
Taxation Management Policy
Audit work is classified as follows:
Annual Audit: Executes planned audit activities that provide comprehensive evaluation and oversight ofbusiness processesEngineering Project Budget and Final Account Audit: Conducts budget verification and cost reviews tailoredto industry-specific requirements, with particular focus on project-related risksSpecial Audit: Performs targeted examinations on an as-needed basis in response to changing externalconditions and operational requirements, continually enhancing management standardsCompliance Awareness TrainingThe company continues to conduct compliance training and empowerment courses, with a total courseduration of [XXX] hours, using the eLearning Platform for online learning and post-course testing tostrengthen employees' compliance awareness.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportCorporate Governance
EnvironmentalManagement
Environmental Management FrameworkEnvironmental Management FrameworkEnvironmental Risk ManagementGreen Storage and Transportation/Green OperationsEnvironmental Protection Culture PromotionPollution EmissionWastewater Discharge ManagementAir Emissions ManagementWaste ManagementNoise Pollution ControlResource Consumption and RecyclingWater Resource ConsumptionEnergy ManagementRaw Material ManagementCircular EconomyEcological Environmental ProtectionSoil and Biodiversity ProtectionClimate Change ResponseClimate Change GovernanceClimate Change Strategy and ManagementCarbon Emission Accounting and ManagementCarbon Reduction Measures and Targets
Great River Smarter Logistics has established a comprehensive environmental risk management system inaccordance with the Environmental Protection Law of the People's Republic of China, the EmergencyManagement Measures for Environmental Incidents, and the National Environmental Emergency ResponsePlan. The company has implemented the "Emergency Response and Management Procedure," "AccidentInvestigation and Handling Management Procedure," and "Great River Smarter Logistics EmergencyEnvironmental Management System" to prevent and mitigate environmental incidents, control and eliminateenvironmental hazards, and enhance overall capability to respond to and manage environmentalemergencies. These measures aim to safeguard enterprise operations, protect employee lives and property,minimize potential damage to the company and society from environmental incidents, and promotecomprehensive, coordinated, and sustainable development.The company continuously improves emergency response capabilities and safety awareness among personnelthrough various environmental emergency drills. According to the 2024 annual environmental emergency drillplan, the company and its subsidiaries conducted 53 environmental emergency response drills. Additionally,joint emergency exercises on various themes were carried out in collaboration with local fire rescue teams,port service companies, and other partners.In 2024, the company organized 13 subsidiaries to conduct 6 self-inspections against standard checklistsincluding the "Environmental Incident Self-assessment Scoring Table," "Great River Smarter LogisticsHazardous Chemicals Major Hidden Danger Self-inspection Table," "Technical Guidelines for EmergencyEmission Reduction in Key Industries During Heavy Pollution Weather (2020 Revised Edition, EnvironmentalOffice Air Letter [2020] No. 340)," and "Enterprise Environmental Information Disclosure ManagementMeasures Self-inspection Table." More than 80 potential hazards were identified, with 100% tracked andremediated according to plan. All terminal facilities maintained discharged pollutants within permissibleemission limits, and all wastewater treatment facilities operated effectively. Annual environmentalmonitoring indicators met required standards, and terminal companies demonstrated increasingly proactivemanagement of VOCs leakage points from storage tanks.
Environmental ManagementFramework
Environmental Management Framework
Great River Smarter Logistics has developed internal regulations in accordance with the Environmental ProtectionLaw of the People's Republic of China, the Water Pollution Prevention and Control Law, the Air Pollution Preventionand Control Law, the Environmental Noise Pollution Prevention and Control Law, the Environmental ImpactAssessment Law, the Cleaner Production Promotion Law, and the Regulations on Environmental ProtectionManagement for Construction Projects.These internal policies include the "Great River Smarter LogisticsGuidelines for Standardized Management of Solid Waste," "Great River Smarter Logistics Wastewater TreatmentManagement System," "Great River Smarter Logistics VOCs Control Work System," "Great River Smarter LogisticsEnvironmental Protection Monitoring Management System," "Great River Smarter Logistics Energy Conservationand Emission Reduction Management Measures," "Great River Smarter Logistics Vapor Recovery Unit ManagementSystem," "Great River Smarter Logistics Emergency Environmental Management System," "Great River SmarterLogistics Environmental Information Disclosure Management System," "Great River Smarter LogisticsEnvironmental Protection Supervision and Inspection System," "Great River Smarter Logistics VOCs ControlManagement Regulations for Loading and Unloading," and "Great River Smarter Logistics General Solid WasteManagement Measures." During the reporting period, the company and its subsidiaries have strictly conductedenvironmental management activities in accordance with these environmental management systems.
Three-tier Management Mechanism
Comprehensive Environmental Management System
Environmental Risk Management
As a hazardous chemicals storage company, Great River Smarter Logistics has always considered safetyand environmental protection to be vital to its corporate development. The company proactivelyimplements comprehensive safety and environmental protection measures to establish itself as anindustry benchmark in HSE (Health, Safety and Environment). To create an efficient and distinctive HSEmanagement system, the company has developed a three-tier management structure.
The Health, Safety and Environment and Innovation Committee (HSE & InnovationCommittee) under the Board of Directors serves as the specialized working bodyestablished in accordance with the Company's Articles of Association. Thiscommittee functions as the leadership and decision-making body for safety,environmental protection, and occupational health matters. It is primarilyresponsible for establishing the company's medium and long-term HSE planning,as well as promoting, guiding, supervising, and evaluating related HSE initiatives.Based on the company's existing organizational structure and the requirements forcomprehensive enhancement of HSE and innovation work, the company hasintegrated internal resources to form a team with high professional standards andexecution capabilities. The "Health, Safety, and Environment Management Office"(HSE Office) has been established with dedicated environmental managementpersonnel.
Third TierSecond Tier
First Tier
Each functional center and terminal company has established dedicated HSEmanagement units with specialized environmental protection personnel.
Pollution Leakage Drill
Wastewater Discharge Drill
Oil Spill Response Drill
Hazardous Waste Emergency Drill Emergency Plugging Materials VehicleMaterial Leakage Emergency Drill
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Great River Smarter Logistics has organized cleaner production certification applications in accordance withthe "Cleaner Production Promotion Law of the People's Republic of China" and the "Cleaner Production AuditMethods." To date, 4 enterprises have successfully passed the audit certification.
Environmental Management System Certification, Cleaner Production
Audit, and Green Port Certification CompaniesCategoryCompany Name
Clean Production
Dongguan Evergrowing TerminalDongguan GR TerminalChangzhou GR TerminalNantong Power Shell TerminalNantong Hongzhi Terminal
The company has established a comprehensive environmental management system and has continuouslypromoted environmental management system certification, cleaner production initiatives, and green portconstruction across all business segments. As of the end of the reporting period, all subsidiaries in thecompany's tank storage segment have obtained ISO14001 environmental management system certification. Inthe chemical warehousing segment, Changshu Hongzhi Terminal and Cangzhou GR DG WH have completedtheir respective certifications.To qualify for green port rating evaluation, candidates must meet the basic requirements specified in the"Green Port Rating Evaluation Guidelines" (JTS/T 105-4-2020), which stipulate that "evaluation objects forgreen ports should be production terminals that have been in formal operation for no less than 2 years, withno sudden environmental incidents or production safety accidents in the past 2 years, and no environmentalpollution or ecological damage issues penalized by administrative authorities according to law." To date, 3Great River Smarter Logistics companies have completed and passed green port certification.
Changshu GR Terminal Green Port CertificateNantong Hongzhi Terminal Green Port CertificateNantong Power Shell Terminal Green Port Certificate
Green Storage and Transportation/Green Operations
Green Port RatingCertification (3-star level)
Environmental MonitoringStatistics for 2024
Environmental ManagementStatistics for 2024
Water Reuse Volume21,751.00 tons
Public WastewaterProcessing Volume
15,070.00 tons
Solid Waste CompliantDisposal Rate100%Comprehensive EmissionControl Compliance Rate
100%
OrganizedEmissions246times
FugitiveEmissions
208timesStorm &Wastewater
146times
Noise
112times
Soil
4times
Online Monitoring
Equipment Comparison
40times
Environmental ProtectionCulture Promotion
Fujian Gangfeng Energy conducted an environmental protection volunteer service activity themed "GR Charity Day, We Are in Action”
Cangzhou Great River Warehousing & Logistics organizedemployee volunteers to carry out the "GR Charity Day,Cangzhou GR Terminal in Action" environmental protection activity.
Taicang Power Shell Terminal carried out an environmentalvolunteer activity themed "Protecting the Mother River,
Taicang Power Shell Terminal in Action.
ISO14001 EnvironmentalManagement SystemCertification
Lisha Island BaseFujian Gangfeng EnergyZhongshan GR TerminalTaicang Power Shell TerminalChangshu Terminal Base
Nantong Power Shell TerminalChangzhou GR TerminalNanjing GR TerminalNantong Hongzhi TerminalRizhao GR Terminal
Cangzhou GR DG WHChangshu Hongzhi TerminalNantong Power Shell TerminalChangshu GR Terminal
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Pollution Emission
Wastewater Discharge Management
Great River Smarter Logistics strictly adheres to the Water Pollution Prevention and Control Law of thePeople's Republic of China, the Urban Drainage and Sewage Treatment Regulations, the IntegratedWastewater Discharge Standard (GB8979-1996), and other relevant regulations. The company hasestablished internal policies such as the "Great River Smarter Logistics Wastewater Treatment ManagementSystem" to standardize wastewater treatment management, ensuring that wastewater treatment work issystematically and routinely managed.The company operates 11 wastewater treatment systems and 2 vessel cleaning stations for ship-generatedpollutants. The wastewater treatment system collects and processes both industrial and domestic wastewaterto meet standards before discharge to the municipal sewage plant.. The vessel cleaning stations handle thereception and disposal of chemical tank washing water and oily wastewater from inland vessels. Allproduction wastewater from Great River Smarter Logistics subsidiaries is uniformly collected throughwastewater collection pipeline networks and treated by supporting wastewater treatment systems to meetdischarge standards.In 2024, Great River Smarter Logistics further optimized its wastewater treatment processes to reducewastewater generation, improve treatment plant operational efficiency, enhance effluent quality, andimplement water recycling. These improvements have reduced the total discharge of pollutants whileconserving freshwater resources. During the reporting period, the company's wastewater treatment plantsprocessed 97,515.60 tons of wastewater for discharge, while 21,751.00 tons were recycled as reclaimedwater.
Air Emissions ManagementGreat River Smarter Logistics strictly complies with the Comprehensive Emission Standard for Air Pollutants,the Emission Standard for Air Pollutants from Oil Storage Depots, the Control Standard for Fugitive Emissionof Volatile Organic Compounds, and other relevant regulations. The company has formulated internal policiesincluding the "Great River Smarter Logistics VOCs Control Work System," "Great River Smarter LogisticsEnvironmental Protection Monitoring Management System," "Great River Smarter Logistics Vapor RecoveryUnit Management System," and "Great River Smarter Logistics VOCs Control Management Regulations forLoading and Unloading" to implement comprehensive air emissions management.The company actively explores advances in VOC source reduction technologies. In addition to conductingregular LDAR (Leak Detection and Repair) programs, Great River Smarter Logistics employs digital modelingand other methods to trace VOC sources based on annual oil product turnover, tank structure, loading andunloading processes, and the current status of exhaust gas collection and treatment. The companycontinuously explores new vapor recovery and exhaust gas treatment technologies to achieve VOC emissionreduction targets. In 2024, the company continued its LDAR and environmental emission reduction efforts,reducing VOC emissions by 485.35 tons throughout the year.All organized emissions from Great River Smarter Logistics subsidiaries are uniformly collected throughexhaust gas collection systems and treated by supporting exhaust gas treatment systems to meet dischargestandards.
Waste Management
Based on the principle of "source noise reduction and dynamic control," Great River Smarter Logistics hassystematically constructed a noise pollution prevention and control system to minimize the impact ofoperations on the surrounding acoustic environment and residents' health. In 2024, a total of 35 noisemonitoring sessions were conducted, with a 100% compliance rate.
Great River Smarter Logistics strictly adheres to the Law of the People's Republic of China on the Preventionand Control of Environmental Pollution by Solid Waste, the Storage and Landfill Pollution Control Standardfor General Industrial Solid Waste, the Hazardous Waste Storage Pollution Control Standard, and otherrelevant regulations. The company has established internal policies such as the "Great River Smarter LogisticsGuidelines for Standardized Management of Solid Waste" and "Great River Smarter Logistics General SolidWaste Management Measures" to implement differentiated management of general industrial solid waste andhazardous waste. In accordance with relevant regulations, the company has constructed "Hazardous WasteStorage Warehouses" and established comprehensive management systems. Through inventory analysis, thecompany identifies major sources of solid waste and optimizes related processes to reduce waste generation.Additionally, following the hazardous waste lifecycle platform protocol, we conduct monitoring andmanagement of general solid waste and residual waste materials.Due to the specific nature of the petrochemical storage industry, most waste generated during productionprocesses at Great River Smarter Logistics is classified as hazardous waste and managed accordingly.Nevertheless, the company regularly conducts energy conservation and consumption reduction training todecrease energy and resource consumption at the source, thereby reducing waste generation.In line with standardized solid waste management requirements, particularly for hazardous wastemanagement, Great River Smarter Logistics continuously strengthens the implementation of managementsystems including hazardous waste identification signage, hazardous waste declaration registration, transfermanifests, and operating permits. This ensures standardized management of solid waste throughout thelifecycle at all terminal facilities, with strict implementation of the company's eight solid waste managementsystems, including transfer manifest systems, identification systems, and environmental pollution preventionsystems. In 2024, 410.6 tons of hazardous waste were transferred to qualified hazardous waste receptionunits in accordance with relevant regulations, representing a 37.5% decrease compared to 2023.
Noise Pollution Control
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Resource Consumptionand RecyclingWater ResourceConsumptionIn 2024, Great River Smarter Logistics utilized the World ResourcesInstitute (WRI) Water Risk Assessment Tool to identify the water riskindicator levels in regions where each production facility is located.The assessment revealed that the region where Cangzhou GR DG WHoperates faces extremely high physical water risk.To mitigate physical risks to water resources, the company hasinstalled groundwater monitoring wells. From pre-implementationthrough the entire operational lifecycle of the project, we conductannual groundwater quality testing across the storage facility area,enabling early warning systems and ensuring water resourcesecurity.
Overall Water Risk Assessment of Company Facilities
CangzhouGR DG WHRizhao GR TerminalNantongHongzhi TerminalNantong PowerShell TerminalChangzhouGR TerminalNanjing GRTerminalChangshuHongzhi TerminalChangshuTerminal BaseTaicang PowerShell TerminalFujianGangfeng EnergyLisha IslandBaseZhongshan GRTerminal
Extremely High
(4-5)
Extremely High
(>80%)
Medium - High(2-4 cm/y)
Low - Medium
(0.25-0.50)
Low - Medium
(0.33-0.66)
Medium - High
(0.6-0.8)
High (6 in 1,000 to 1 in 100)
Medium - High(7 in 100,000 to 3 in 10,000)No data
Extremely High
(>80%)
InsignificantTrend
Low - Medium
(0.33-0.66)
Medium - High
(0.6-0.8)
High
(6 in 1,000 to 1 in 100)
Extremely High
(more than 2 in 1,000)Low - Medium
(0.25-0.50)
High
(3-4)
Medium - High
(20-40%)
Low - Medium
(0-2 cm/y)
Low - Medium
(0.25-0.50)
Low
(<0.33)
Medium - High
(0.6-0.8)
High (6 in 1,000 to 1 in 100)
Extremely High
(more than 2 in 1,000)
Medium - High
(20-40%)
Low - Medium
(0-2 cm/y)
Low - Medium
(0.25-0.50)
Low
(<0.33)
Medium - High
(0.6-0.8)
High(6 in 1,000 to 1 in 100)
Extremely High
(more than 2 in 1,000)
Medium - High (20-40%)
Medium - High
(2 in 1,000 to 6 in 1,000)
Medium - High (7 in 100,000 to 3 in 10,000)Medium - High (2-3)
Low
(<10%)
Low
(<0.25)
Low - Medium
(1 in 1,000 to 2 in 1,000)
Low (0 to 9 in 1,000,000)Medium - High
(20-40%)
Medium - High
(2 in 1,000 to 6 in 1,000)
Medium - High
(7 in 100,000 to 3 in 10,000)
Low - Medium(0-2 cm/y)
Insignificant
Trend
Medium
(0.4-0.6)
High (3 in 10,000 to 2 in 1,000)
Low - Medium(10-20%)
Insignificant
Trend
Extremely High
(more than 2 in 1,000)
High
(3-4)
High
(3-4)
High
(3-4)
High
(3-4)
High
(3-4)
High
(3-4)
High
(3-4)
Medium - High
(20-40%)
Medium - High
(20-40%)
Medium - High
(20-40%)
Low - Medium
(0-2 cm/y)
Low - Medium
(0-2 cm/y)
Low - Medium
(0-2 cm/y)Low - Medium
(0-2 cm/y)
Low - Medium
(0.25-0.50)
Low - Medium
(0.25-0.50)
Low - Medium
(0.25-0.50)
Low - Medium
(0.25-0.50)
Low - Medium
(0.25-0.50)
Low - Medium
(0.25-0.50)
Low - Medium
(0.25-0.50)
Low
(<0.33)
Low
(<0.33)
Low
(<0.33)
Low
(<0.33)
Low
(<0.33)
Low
(<0.33)
Low - Medium
(0.33-0.66)
Low - Medium
(0.33-0.66)
Medium - High
(0.6-0.8)
Medium - High
(0.6-0.8)
Medium - High
(0.6-0.8)
Medium - High
(0.6-0.8)
Medium - High
(0.6-0.8)
Medium
(0.4-0.6)
Medium (0.4-0.6)
Medium - High
(2 in 1,000 to 6 in 1,000)Medium - High (2 in 1,000 to 6 in 1,000)Low - Medium (1 in 1,000 to 2 in 1,000)Low - Medium (1 in 1,000 to 2 in 1,000)Medium - High
(2 in 1,000 to 6 in 1,000)
Medium - High
(7 in 100,000 to 3 in 10,000)Medium - High
(7 in 100,000 to 3 in 10,000)
Extremely High (more than 2 in 1,000)
Low - Medium
(1-2)
Low
(<10%)
Insignificant
Trend
To address potential impacts of water resource risks on dailyoperations, Great River Smarter Logistics adheres to the principlesof efficient water utilization and circular management. Through acombination of manual inspections and daily water consumptiondata recording, the company precisely located and repaired morethan 10 underground water pipeline leakage points in 2024, savingapproximately 3,000 tons of water and effectively reducingoperational water resource losses. The company will continue tooptimize its water management system by upgrading monitoringtechnology and implementing water-saving process modifications tostrengthen dynamic control of water supply systems, ensuringrational allocation and recycling of water resources in storagefacility maintenance and other operational scenarios.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Physical Risk ofWater Resource
Water Stress
GroundwaterLevel Decline
InterannualVariability
SeasonalVariability
Drought RiskRiverine Flood RiskCoastal Flood Risk
Energy Management
Great River Smarter Logistics continuously conducts energy management work in accordance with theCleaner Production Promotion Law of the People's Republic of China and the company's Energy Conservationand Emission Reduction Management Measures. Through energy consumption assessment, energyconsumption analysis meetings, procurement of low-energy products, and strengthened daily management,the company has achieved significant resource conservation. In 2024, Great River Smarter Logisticsconsumed a total of 478,900 tons of tap water, 34.6719 million kWh of electricity, 15,300 tons of nitrogen(calculated based on a liquid nitrogen 1:800 gasification rate), and 29,400 tons of steam, representingdecreases of 6.28%, 4.74%, an increase of 27.50%, and a decrease of 41.2% respectively compared to 2023."Building on our current energy management framework, Great River Smarter Logistics aims to achieve a 6%reduction in energy consumption from 2024 baseline levels. To support this ambition, we have established 11company-wide improvement targets complemented by 132 facility-specific objectives.As part of our long-term energy transition strategy, we continuously investigate opportunities to incorporateclean, renewable energy sources and implement energy diversification initiatives. These efforts servemultiple strategic purposes: reducing our dependence on conventional fossil fuels, minimizing our carbonfootprint, and building resilience against energy market volatility. We remain committed to progressivelyincreasing the proportion of renewable energy within our overall energy mix year-on-year.
The company has established the "Great River Smarter Logistics Energy Conservation and EmissionReduction Management Measures" and formed an energy consumption assessment team to conductevaluations and actively promote green development concepts in daily operations. This approach aimsto achieve energy conservation and emission reduction while creating an environmentally friendlyworking environment and building a resource and energy-efficient enterprise. The energyconsumption assessment team has proposed and implemented the following energy-saving measures:
1. Adding automatic power-off function 15 minutes before the end of the workday to air conditioningcircuits
2.Replacing failed street lights with cool light source lamps or even solar-powered street lights
3.Conducting leak inspections of tap water supply management systems
4.Strengthening quota management of water and electricity usage in employee dormitories
5.Promoting automatic rotary spray tank cleaning solutions to save water used in tank cleaning andreduce wastewater generation at the source
6.Strengthening recycled water usage in tank cleaning, landscaping, sprinkler systems, and otherapplications
7.Evaluating equipment power consumption and promoting low-energy, high-efficiency equipment inconjunction with local government trade-in policies
8.Encouraging employees to practice low-carbon behaviors, promoting online meetings to reduceunnecessary business travel, and advocating shared offices and normalized remote work.
Circular EconomyIn resource recycling management, the company follows the core principles of "green low-carbon, closed-loop throughout the value chain, and controllable risk" while adhering to regulations such as the "EnergyConservation Design Standards for Petroleum Depots" and the "Hazardous Waste Storage Pollution ControlStandards." Through technological innovation and process optimization, the company achieves efficientresource utilization and reduces its environmental footprint. From the construction to the decommissioningphases of storage facilities, the company assesses resource consumption and environmental impact,prioritizing recyclable building materials and low-emission sealing materials while extending equipmentservice life to reduce lifecycle resource waste. In 2024, to promote circular economy development andreduce resource waste and environmental impact, Great River Smarter Logistics actively advanced drumrecycling initiatives. According to precise statistics, in 2024, the company achieved 700,866 entries ofrecycled drums (based on the 200L steel drum measurement standard).
(1) The company established a specialized oil and gas recovery innovation working group to addressshortcomings in oil depot exhaust gas management. Regular maintenance of vapor recovery units andremoval of accumulated liquid in pipelines ensure smooth operation of oil and gas recovery systems.
(2) The company implemented standardized upgrades to hazardous waste management facilities to ensureunified collection and handling of hazardous waste generated during daily operations. These materials areregularly transferred to qualified third-party contractors for legally compliant disposal in accordance withregulatory requirements.
Case Study
Changshu Terminal Base, in collaboration with Changshu GR New EnergyDevelopment Co., Ltd., systematically advanced clean energy transitionthrough the "Changshu GR Terminal (250.56 kWp) and Changshu HongzhiTerminal (460.52 kWp) Distributed Photovoltaic Project." This projectemploys distributed photovoltaic technology to strengthen localconsumption of renewable energy, demonstrating the company's positiveresponse to green production system construction and the "14th Five-YearRenewable Energy Development Plan," providing a replicable clean energysolution for regional low-carbon development. The project beganconstruction in June 2024, passed acceptance in August of the same year,and generated a cumulative 244,008 kWh during its September-Decemberoperational period. Changshu GR Terminal and Changshu Hongzhi Terminalcontributed 90,537.6 kWh and 153,470.4 kWh of clean electricity,respectively. Calculated using China's regional power grid baseline emissionfactor, this equates to a reduction of approximately 191 tons of carbondioxide emissions (Note: calculated at 0.785 kg CO?/kWh), effectivelyoptimizing the energy structure of the Changshu Terminal Base and reducingits carbon footprint.
Changshu Terminal Base: Distributed Photovoltaic ProjectAdvancing Clean Energy Transition
Changshu Terminal Basephotovoltaic powergeneration facilities
Raw Material ManagementMaterials and Packaging Management System: Reduction and ReuseUtilization Status: Reuse of IBCs, steel drums, and pallets; corresponding reduction targets with specific goals established,with a reuse rate of 60%.Enhanced Green Material Utilization: Packaging material reduction to avoid excessive packaging; reuse implementation.Hazardous Substance Reduction: Use of environmentally friendly printing materials for external packaging andbiodegradable packaging.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Taicang Power Shell Terminal:
Renovating and Upgrading the Vapor Recovery System
To enhance environmental performance and safety production standards, Taicang Power ShellPetrochemical initiated a green upgrade of its vapor recovery system in 2024. The company plans to phaseout three existing single-channel processing facilities (port 1×300Nm?/h, terminal area 2×200Nm?/h) due toinsufficient processing capacity and safety risks from ice blockages. Instead, the company is investing 15million yuan to construct 3 new high-efficiency classified treatment devices: dedicated methanol/gasolinerecovery units (1×300Nm?/h each) at the tank area loading platform and an additional 1×1200Nm?/h gasolinerecovery system for vessel loading at the port, enabling precise treatment of operational exhaust gases. Thisproject has been registered with the Taicang Port Economic Development Zone (March 4, 2024) and isexpected to reduce volatile organic compounds (VOCs) by 604 tons annually. By improving equipmentprocessing efficiency and anti-freezing performance, the project simultaneously strengthens environmentalrisk prevention and control capabilities, fulfilling the company's commitment to pollution reduction, carbonreduction, and sustainable development.
Taicang Power Shell Terminal vapor recovery devices
Taicang Power Shell Terminal and Nantong Power Shell Terminal:
Systematically Building a Comprehensive Ship Pollution Control SystemAs port operators, Taicang Power Shell Terminal and Nantong Power Shell Terminal have positionedthemselves as "guardians of aquatic ecosystems" by systematically developing a comprehensive ship pollutioncontrol system. Responding to the Yangtze River Protection Law and local government pollution preventionrequirements, the companies have invested in specialized tank cleaning stations equipped with efficienttreatment facilities, focusing on harmless disposal of high-risk pollutants such as chemical tank washing waterand oily wastewater from inland vessels. In 2024, they collectively received and treated 15,070.00 tons of shipwastewater, achieving a COD reduction of 230.87 tons. Calculated using the International MaritimeOrganization (IMO) carbon intensity indicator, this environmental achievement is equivalent to reducingcarbon emissions from fuel-powered vessels by approximately 580.00 tons of CO?e.
Nantong Power Shell Terminal tank cleaning station and Taicang Power Shell Terminal tank cleaning stationIntelligent high-pressure tank cleaning operation
Fujian Gangfeng Energy: Deeply Integrating Green Operations andost Control, Implementing Low-Carbon Transition Through RefinedEnergy Dispatching MechanismsBased on time-of-use electricity pricing policies (peak prices are 4.4 times higher than off-peak and normal periodsare 2.7 times higher), Fujian Gangfeng Energy has systematically optimized the operation of its air compression andnitrogen generation units. The company tracks pipeline pressure and electricity price fluctuations in real-time,dynamically adjusts equipment load, and forms an energy-saving closed loop that coordinates "demand response-energy storage buffering-alternative energy." Operations such as pipeline purging are scheduled during off-peakelectricity periods (00:00-08:00), and air storage tanks are utilized to ensure energy supply during morning shifts,reducing energy consumption during high-carbon periods. Through a combination of time-shifted peak avoidanceand energy substitution measures, the company achieves monthly electricity cost savings of 6,000.00 yuan whilesimultaneously reducing dependence on fossil energy during grid peak periods and indirectly cutting carbonemissions (Note: Based on China's average grid emission factor of 0.785kg CO?/kWh, the annual carbon reduction is
approximately 45 tons of CO?).
Rizhao GR Terminal: Focusing on Intensive Water Resource Utilizationin the Petrochemical Storage Industry, Solving High Water Consumption Challenges in Tank Cleaning Through a Dual-Drive Model of "Technological Innovation + Recycling Systems”Rizhao GR Terminal has introduced intelligent high-pressure cleaning technology, employing adjustablefan nozzles (10-100MPa dynamic pressure adaptation) and a closed-loop water recycling system to achievea complete water-saving process of "precise spraying-real-time recovery-cascade purification." Taking a10,000 cubic meter storage tank as an example, the water consumption per cleaning operation has beensharply reduced from 40 cubic meters with traditional processes to less than 6 cubic meters, achieving awater-saving rate exceeding 85%. Energy consumption per tank cleaning has decreased by approximately30%, while ensuring zero escape of cleaning residues, balancing operational safety and ecologicalprotection. To date, Rizhao GR Terminal has completed cleaning of 3 storage tanks, saving 85 cubicmeters of fresh water. Based on the carbon footprint calculation for industrial water use in the Yellow Searegion (0.15kg CO?e/ton of water), the annualized carbon reduction reaches 12.8 tons, whilesimultaneously reducing the ecological disturbance to surrounding wetlands from water extraction.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Climate change is having an increasingly severe impact on human activities and has become a global concern,prompting countries worldwide to introduce policies in response. The Chinese government has proposed a"dual carbon" strategy aimed at promoting comprehensive green transformation of the economy and society,contributing China's strength to global climate governance. Climate change and various national responsepolicies present new challenges to business models, value chains, strategies, decision-making, and financialconditions of enterprises, while also creating development opportunities for companies that proactively plantheir transition strategies.Great River Smarter Logistics recognizes the impact of climate change on the company and has disclosedinformation this year in accordance with the Task Force on Climate-Related Financial Disclosure (TCFD)initiative. The Strategy and Sustainable Development Committee of the company's Board of Directors isactively preparing to establish the foundation for strict adherence to the TCFD framework in disclosingclimate-related financial information, including preparations for building a climate change risk managementorganizational system and researching scenario analysis methods.
Ecological EnvironmentalProtection
Soil and Biodiversity ProtectionGreat River Smarter Logistics strictly complies with the Environmental Protection Law of the People'sRepublic of China, the Soil Pollution Prevention and Control Law of the People's Republic of China, the LandAdministration Law of the People's Republic of China, the Technical Specifications for Soil EnvironmentalMonitoring, and other regulatory requirements. The company conducts soil monitoring for its subsidiaries. In2024, soil monitoring was legally carried out 4 times, with all monitored parameters meeting standards. Thiswork will continue in the future to track specially monitored factors in soil and provide decision-makingreferences for daily management.
Climate ChangeResponse
Great River Smarter Logistics actively responds to the 1.5°C temperature rise target proposed in the ParisAgreement and the "Action Plan for Carbon Peaking Before 2030" issued by the State Council. The companycomplies with the requirements of the "International Financial Reporting Sustainability Disclosure StandardNo. 2 - Climate-Related Disclosures," the "Shenzhen Stock Exchange Listed Companies Self-RegulatorySupervision Guidelines No. 17 - Sustainability Report (Trial)," and the "Shenzhen Stock Exchange ListedCompanies Self-Regulatory Supervision Guide No. 3 - Sustainability Report Preparation." Based on its ESGgovernance structure and internal systems, the company has integrated climate change governance.
Climate Change Governance
Climate Change Governance Framework
Composed of full-time/part-time employees responsible for ESG and climate-related work from various centers and terminal subsidiaries; responsible foradvancing the company's ESG and climate work; regularly submitting ESG andclimate work performance reports; ensuring smooth communication channelswith stakeholders.
Level Institution FunctionsDecision-
making
Level
Board of Directors
Responsible for supervising the company's ESG and climate-related work,including reviewing and guiding climate-related strategies, major action plans,and risk management policies; determining organizational performanceobjectives, monitoring implementation and performance; monitoring andsupervising progress in addressing climate-related goals and targets.
ManagementLevel
HSE & InnovationCommittee of Board ofDirectors and HSEManagement Office
Responsible for evaluating and managing ESG and climate-related work, assistingthe Board in supervision, and guiding the executive level in conducting specifictasks; incorporating ESG and climate-related impacts, risks, and opportunitiesinto the company's overall decision-making considerations; regularly reporting tothe Board on the status of ESG and climate-related work, as well as thecompletion of relevant indicators and targets; responsible for organizing regularESG and climate information disclosure.ExecutiveLevel
Headquarters FunctionalDepartments, BusinessDepartments
Case Study: River Fish Stock Enhancement to Protect BiodiversityOn May 22, 2024, the 24th International Day for Biological Diversity, Great River SmarterLogistics actively responded to biodiversity protection initiatives by deeply participating in the"Conserving Fishery Resources, Building a Beautiful Home" - Dongguan City 2024 River FisheryResource Enhancement Release Event. This event was jointly organized by the DongguanAgricultural and Rural Affairs Bureau, Shilong Town People's Government, the Municipal MarineComprehensive Law Enforcement Team, and the Agricultural, Forestry, and Water AffairsBureaus of riverside towns. Focusing on the theme "Biodiversity, Engaging You and Me," GreatRiver Smarter Logistics maintained a highly responsible attitude toward the ecologicalenvironment and joined hands with various stakeholders to contribute to maintaining regionalecological balance and promoting sustainable development of biodiversity through practicalactions of fishery resource enhancement. This initiative demonstrated the company's socialresponsibility in ecological environmental protection and interpreted the company's profoundunderstanding of social responsibility through concrete actions, dedicated to advancing thebeautiful vision of harmony between humans and nature at the local level.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Risk Identification and AnalysisTo strengthen safety management and emergency prevention for sudden weather events such as typhoons, heavyrain, fog, cold waves, and high temperatures, and to ensure scientific, powerful, orderly, and effectivemeteorological disaster emergency response, protect company storage facilities and personnel safety, and minimizecasualties and property losses caused by meteorological disasters, the company has established the "Great RiverSmarter Logistics Sudden Weather Disaster Emergency Work Guidelines" in accordance with the "EmergencyResponse Law of the People's Republic of China," "Meteorological Law of the People's Republic of China,""Meteorological Disaster Prevention Regulations," and related requirements.The system identifies the following major climate risks and their potential impacts:
Typhoons: May cause damage to storage facilities, operational interruptions, cargo damage, and personnel safetyhazards.Heavy rain: Causes flooding, moisture damage to goods, equipment short circuits, and transportation disruptions.Fog: Affects logistics transportation efficiency and increases traffic accident risks.Cold waves: Leads to equipment freeze damage, pipeline ruptures, and decreased operational efficiency.High temperatures: Threatens employee health and increases chemical storage risks (such as spontaneouscombustion, evaporation).Storm surges: Affects dock operation safety and vessel berthing/unberthing safety.
Principles for Optimizing Emergency Responseto Sudden Weather DisastersPrioritize prevention by configuring redundant materials based on historical extreme values and establishingdynamic risk assessment mechanisms;Uphold the principle of life-first, implementing "evacuate when appropriate," prioritizing vulnerable groups (elderly,weak, sick, disabled, pregnant), and ensuring safety of emergency personnel;Integrate real-time monitoring using meteorological satellites, government platforms, and international warningdata;Develop standardized material lists (sandbags, drainage pumps, etc.), implementing fixed-point storage andintelligent distribution;Build a collaborative mechanism of "government leadership + community coordination + social rescue" to ensure theentire chain of early warning, response, and handling is connected.Emergency Leadership Group for Sudden Weather DisastersEach entity establishes an Emergency Leadership Group for sudden weather disasters (hereinafter referred to as theLeadership Group) to provide unified leadership and command for prevention and emergency response to suddenweather disasters. The HSE Department serves as the emergency office responsible for comprehensive coordinationof emergency response. Other departments establish emergency teams according to their responsibilities toorganize emergency response work.Leadership Group responsibilities:
Implement directives from government regulatory departments and Great River Smarter Logistics headquarters, anddeploy emergency response work for sudden weather disasters;Review and issue emergency work documents and information materials, and issue emergency instructions;Arrange meetings, conduct on-site inspections, implement timely corrections, and arrange personnel on duty; preparefor the worst with the most thorough preparations;Command and dispatch resources including personnel, materials, funds, and technical equipment needed for emergencyresponse;Command the handling of other major emergencies during the sudden weather disaster emergency process;Decision on personnel evacuation;Decision on emergency rescue operations;Announce the initiation and termination of alert status;Announce the initiation and termination of emergency status;Announce the resumption of work and production.
Sources, Collection and Distribution of MeteorologicalForecast Information
Emergency Response Process Flowchart
Example: Typhoon
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Sources of meteorological forecast information:
Information released by local meteorological stations through radio, television, and websites;Industry and regional authorities to which the company belongs; port authority (port and shippingcenter), maritime bureau releasing information via telephone and fax;Central Meteorological Observatory typhoon website, Hong Kong Observatory website.Among the above information, government authorities' information serves as the basic reference forpreventive work, while other information serves as supplementary analysis reference.Collection and distribution of meteorological information:
Starting from notification by the HSE Department, the control room is responsible for tracking andrecording meteorological information once per hour. When government authorities initiate a Level IVresponse, this must be reported to all department managers and company leaders, with additionalreports each time the response level changes, until the warning signal is lifted.The HSE Director (Manager) and Business Department Manager (Shipping) maintain dynamiccommunication with government authorities.
WhiteWarning
Blue WarninLevel IVResponse
YellowWarningLevel IIIResponse
OrangeWarningLevel IIResponse
RedWarningLevel IResponse
EmergencyResponse
EmergencyWork Summary
Climate Change Strategy and Management
Great River Smarter Logistics places high importance on the impact of climate change on the company. Thisyear, the company has disclosed information according to the Task Force on Climate-Related FinancialDisclosure (TCFD) initiative, systematically identifying, evaluating, and managing climate risks faced by thecompany, laying the foundation for further deepening climate management work in the future.Great River Smarter Logistics categorizes climate-related risks and opportunities with reference to the "FinalReport: Recommendations of the Task Force on Climate-Related Financial Disclosures." Based on industrycharacteristics including cash flow, investment and business cycles, legal jurisdictions of relevant policies,the nature of risks or opportunities, asset lifespans, and other factors, the company defines the time horizonsfor risks and opportunities that may have significant impacts. "Short-term" refers to within 1 year (inclusive)after the end of the company's current reporting period; "Medium-term" refers to 1-5 years (inclusive) afterthe end of the company's current reporting period; "Long-term" refers to more than 5 years after the end ofthe company's current reporting period.The company has analyzed the potential impacts of different risks and opportunities on its business model,operations, development strategy, financial position, operating results, cash flow, financing methods, andcosts. Through comprehensive assessment of the likelihood, magnitude, and impact pathways of various risksand opportunities, the company prioritizes these factors and evaluates the adaptability of its strategy andbusiness model to climate change. The company has proposed transition plans, measures, and progress foraddressing climate-related risks and opportunities, and has integrated climate-related impact, risk, andopportunity management processes into its internal management processes. The relevant risks andopportunities, their timeframes, impacts, priorities, as well as the company's adaptability, transition plans,and measures are shown in the table below.
Climate-relatedRisks
Risk DescriptionFinancial ImpactResponse Measures
Time Frame
Materiality
Transition Risks
Policy and Legal Risks
The increasingly improveddomestic enterprisesustainability informationdisclosure system poseshigher ESG-relatedinformation disclosurerequirements for Great RiverSmarter Logistics. Failure todisclose relevant informationin a timely manner may resultin compliance risks.
Increased
costs,increased non-
operatingexpenses
The company regularly discloses environmentalinformation as required by laws and regulations,and develops and publishes independent ESGreports.
InterimHigh
CarbonReductionRequirements
andRegulation
The company's main businessbelongs to the petrochemicalindustry, which is a keyindustry under dual carbonpolicy control. Under the"dual carbon" goals, thecompany may be subject tostricter carbon reductionrequirements andsupervision, potentiallyresulting in legal liabilities,regulatory measures, andproperty losses due to non-compliance with relevantregulations.
Increased costs,increased non-
operatingexpenses
The company continues to pay attention to dual carbonpolicy work to improve energy utilization efficiency andoptimize energy structure, promoting a comprehensivegreen transformation of economic and social development.The company continuously monitors dual carbon policydevelopments to improve energy efficiency and optimizeenergy structure, promoting comprehensive greentransformation of economic and social development. Thecompany will continue to increase investment in andimplementation of emission reduction measures, monitorcarbon market developments, strengthen cooperation withgovernments, industry associations, research institutions,etc., to jointly explore emission reduction pathways andtechnological innovation, and strengthen externalenvironment monitoring and assessment to adjust emissionreduction strategies in a timely manner in response topolicy changes.
InterimHigh
EnvironmentalStandards
As a key pollutant discharging entitypublished by environmentalprotection departments, withincreasingly stringent environmentalstandards, the company needs toinvest more funds and technology tomeet these requirements, therebyincreasing operating costs.
Increased costs
In response to strengthened environmentalregulations and implementation, thecompany adjusts production methods andtechnical equipment, enhancesunderstanding of regulations, andestablishes a sound compliance system toensure that the company's operationscomply with legal requirements.
InterimHigh
Carbon Market
The successive introduction of globalcarbon emission rights supportingcontrol and adjustment mechanismsmay lead to increased businessoperations and financial costs.
The company will adapt to relevantchanges through developing carbonemission management strategies,optimizing production processes,participating in carbon market trading,promoting clean energy, strengtheningmonitoring and reporting, and raisingemployee awareness to ensuresustainable business development.
Interim
High
Technology Risks
Technology
Risks
Dual carbon policies require enterprises toundergo low-carbon transition, necessitatingcost investment in research, development,and deployment of energy-saving andenvironmental protection technologies,generating additional costs during theprocess, while facing risks of technology R&Dand deployment failure.
The company has established a Science andTechnology Innovation Office, activelyconducting research and development workrelated to environmental protection andemission reduction processes, environmentalmanagement monitoring systems, and othergreen technologies. The company will conductthorough market research and technologyassessment before investing in energy-savingand environmental protection technology R&Dto ensure investment feasibility and return rate,promoting the transition to green productionand operation modes.Low Carbon
TransitionCompetition
If enterprises fail to identify and applyenergy-saving and environmentalprotection technologies in a timely mannerduring the low-carbon transition process, itwill lead to service levels lagging behindindustry peers in low-carbon transition,resulting in customer loss.
Decreased
revenue
Long-term
Medium
Energy
PriceFluctuations
Carbon emission control measuresand policies in the internationalcommunity affect fossil fuel costs,potentially leading to increasedcompany costs.
Interim
Market Risks
The company addresses market risks brought byrising energy costs through optimizing energystructure, implementing energy consumptionmanagement, and establishing environmentalmanagement systems.
CustomerPreferenceforLow-Carbon
Services
If customers served by the companyalso set carbon reduction targets,they will prefer enterprises providinglow-carbon logistics services to helpachieve their carbon goals. If theenterprise cannot provide greenservices meeting customer needs, itmay lead to customer loss.
Decreased
revenue
The company actively participates inenvironmental protection activities andpromotes green supply chainconstruction to actively respond tomarket risks that may arise fromchanging customer demands.
Interim
Reputation Risks
ESGNegative
Events
Customers, investors, and otherstakeholders increasingly emphasizeenvironment-related informationdisclosure. When such disclosedinformation falls below stakeholderexpectations, it may adversely affectthe company's corporate image andreputation, reducing capital marketrecognition of the company.
The company has always aimed to createan industry benchmark enterprise. Inaddressing climate and environmentalimpacts faced during production andoperation, the company insists onstrengthening environmentalmanagement and supervision, improvingenergy efficiency and reducingemissions, implementing green supplychain management, establishingenvironmental information disclosuremechanisms, regularly publishing socialresponsibility reports, establishingemergency plans, and obtaining third-party certifications to maintain companyreputation and enhance stakeholders'investment willingness.
Short-termHigh
ESGReportingObligations
Increased costs
Increased costs
Medium
Medium
Decreased
revenue
Decreased
revenue
Long-term
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Physical Risks
Short-term Risks
The company's headquartersis located in Dongguan City,Guangdong Province, and allstorage terminal projects forpetroleum, liquid, andgaseous chemical productsare located in thesoutheastern coastal area,susceptible to typhoons,extreme precipitation, andfloods. On one hand, thisleads to damage to terminals,office buildings, andequipment, causing assetlosses; on the other hand, itendangers employee safety,obstructs transportation, andaffects normal companyoperations and production.
Increased capitalexpenditure,increased costs,decreased revenue
The company has established internal systemssuch as the "Guidelines for Emergency Work inSudden Weather Disasters" and formed anemergency leadership group for sudden weatherdisasters to strengthen safety management,prevention, and emergency response for suddenweather events. This ensures scientific, forceful,orderly, and effective emergency response tometeorological disasters, safeguarding companyequipment, facilities, and personnel safety, andminimizing casualties and property losses causedby meteorological disasters. The company adheresto the principle of "people-oriented," ensuring"evacuation when necessary" and prioritizingpersonnel safety during emergency rescueoperations. The company has developedemergency management procedures for extremeweather, implementing hierarchical risk control,with the emergency leadership group takingcorresponding response measures according tomanagement procedures based on different risklevels.
Short-term
High
Extreme Weather Such as Typhoons, Rainstorms, and Floods
Long-term risk
The company'sheadquarters and somestorage terminals arelocated in subtropicalregions. Under long-termclimate pattern changeswith rising averagetemperatures, powerfacilities and equipmentmay experience operationalfailures and increasedaccident risks, affectingproduction efficiency andcreating safety hazards.Simultaneously, employeehealth is affected,preventing long-termoutdoor work and impactingoperational efficiency.
Increasedcosts,decreased
revenue
The company shortens continuous operation time basedon work conditions; requires incoming vehicles to bewater-cooled before operation; requires vessel decks atterminal operations to be water-sprayed for coolingbefore operation, and vessels unable to leave berths afterstopping operations must continue water spray coolingmeasures; during high-temperature weather, continuouslymonitors material temperature in storage tanks, takingcooling measures when necessary; strengthenstemperature monitoring of special chemical materialstorage tanks, pipelines, and warehouses to preventmaterial deterioration due to high temperatures; monitorsradar level values of storage tanks daily; strengthenspipeline depressurization management; enhances parkingmanagement of external operation vehicles, arrangesspecial personnel for inspection, and adopts waterspraying measures for cooling. The company completesoccupational health examinations for employees beforesummer and establishes occupational health monitoringfiles; organizes relevant high-temperature operationsafety training before summer to strengthen high-temperature safety operation awareness; providesprotective and health products that meet requirements,such as parasols, towels, sun hats, cooling drinks, andheat stroke emergency kits; establishes high-temperatureemergency measures, with immediate necessary first aidand medical treatment for those found with heat stroke.
Interim
MediumRising Average Temperature
Sea Level Rise
The company's headquartersand storage terminals arelocated at relatively lowelevations near the sea,making them vulnerable tosea level rise. Rising sealevels may damage terminalfacilities and warehouses,affecting transportationefficiency, increasingmaintenance costs whilereducing business revenue.
Increased capitalexpenditure,
increased
costs,decreased
revenue
The company has formulated a special floodprevention emergency plan.
Long-term
Low
Climate-related
Risks
Risk DescriptionFinancial ImpactResponse Measures
Time Frame
Materiality
Climate-related
Risks
Risk DescriptionFinancial ImpactResponse Measures
Time Frame
Materiality
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
From the perspective of enhancing ESG (Environmental, Social, and Governance) governance capabilities,Great River Smarter Logistics systematically promotes low-carbon transformation with "professional carbonmanagement" as its core. 1.Through preliminary special training on "Enterprise Carbon Accounting and Low-Carbon Development Practices," the company has completed cross-terminal talent team building, enablingemployees to master carbon emission boundary definition, monitoring system construction, and datatraceability management capabilities. This ensures the completeness and accuracy of Scope 1 (directemissions) and Scope 2 (indirect emissions from purchased energy) accounting, strengthening the foundationof carbon emission data governance.
Great River Smarter Logistics "Carbon Accounting and Low-Carbon
Development Practices" Special Training in 2024
Carbon Reduction Measures and Targets
Scope 1 (tCO2e)Scope 2 (tCO2e)total release（tCO2e）2024
Carbon Emission Accounting and Management
Based on capacity building achievements and in accordance with "ISO14064-1:2018 Specification withGuidance at the Organization Level for Quantification and Reporting of Greenhouse Gas Emissions andRemovals" and the "Greenhouse Gas Protocol (GHGP)," the company has initiated a company-wide carboninventory plan for 2024:
Boundary Verification Stage: Each terminal defines organizational operational boundaries, clarifies emissionsource attribution to Scope 1/2, and ensures accounting framework compliance;Data Traceability Stage: Identifies key emission sources and greenhouse gas types, collects original activitydata such as energy consumption and electricity/heat purchases, and matches with authoritative emissionfactor databases;Quantitative Analysis Stage: Uses standardized tools to complete energy consumption conversioncalculations, generates carbon emission inventories by terminal and summarizes group totals, constructingdynamic emission baselines;Completed carbon emission datasets for 2023 and 2024 and formed the "Great River Smarter LogisticsCarbon Emissions Summary Table" to support carbon performance benchmarking and emission reductionpathway optimization;
2,779.5021,901.0724,680.57
Main ApproachAnalysis of domestic andinternational standards,regulatory requirementsand best practices,combined with currentmanagement status, toconduct greenhouse gasinventory ensuring thecompany's carbonemissions are measurable,reportable and verifiable(MRV).PurposeTo ensure carbon emissioncalculations comply withexternal regulatoryrequirements and to ensureestablish carbon emissionsthat meet measurable,reportable and verifiableprinciples
Carbon Emission Data
With green and low-carbon development as its core, Great River Smarter Logistics has clarified its carbonneutrality pathway: By 2025, the company aims to create its first zero-carbon factory, achieving carbon-freeoperations through renewable energy applications, low-carbon processes, and intelligent energymanagement, establishing an industry benchmark for green manufacturing. The company controls carbonemission growth through energy structure optimization, energy efficiency improvement, and low-carbonsupply chain management, with a preliminary plan to peak emissions before 2030 and achieve carbonneutrality by 2060, reaching net-zero emissions in operations and value chains. By 2025, the company plansfor Changshu GR Terminal to become Great River Smarter Logistics' first zero-carbon factory. In the future,the company will drive industrial low-carbon transformation through technological innovation andmanagement reform, contributing to global climate governance and sustainable development.
Plans to compile the "Great River Smarter Logistics Carbon Emission Analysis Report" in 2025 to providedecision-making basis for setting scientific carbon targets, disclosing TCFD climate information, andresponding to "dual carbon" policies, demonstrating environmental responsibility and transparentgovernance commitments.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEnvironmental Management
Methodology DevelopmentReview of domestic and international standards, regulatory requirements and bestpractices, and develop carbon disclosure principles and indicators for this reportBoundary Setting and Baseline Year EstablishmentAssessment of enterprise-owned and controlled operations and facilities, thereforedevelop definition of organizational and reporting boundariesEmission Source IdentificationMapping of direct, indirect and other indirect emission sourcesDetermination of key emission pointsCalculation Methods and Emission FactorsSelection of appropriate greenhouse gas calculation tools for this projectIdentification of emission factors requiring measurement and supporting documentationActivity Data Collection MethodologyPrioritization of data collection activitiesEstablishment of data collection protocolsCarbon Data System Development WorkshopPresentation of carbon data system frameworkRefinement based on departmental feedbackCarbon Data System FinalizationEstablishment of data collection pathways and requirementsImplementation of comprehensive carbon emission data system
Employee Recruitmentand Development
Employee Recruitment and TurnoverEmployee Benefits and CareEmployee Training and DevelopmentEmployee Health and SafetySafety Management SystemSafety Impacts, Risks, and Opportunities Management
Employee Recruitment andDevelopment
The company strictly adheres to the Labor Law of the People's Republic of China (hereinafter referred to asthe "Labor Law"), the Labor Contract Law of the People's Republic of China (hereinafter referred to as the"Labor Contract Law"), and other relevant laws and regulations, as well as the company's RecruitmentManagement Policy:
Compliant Employment Practices
In accordance with regulations, the company verifies identity information and relevant documentation duringthe recruitment process to ensure all hired employees are at least 18 years of age. Labor contracts are signedon the first day of employment, ensuring full compliance with legal employment requirements.Equality andDiversityThe company adheres to the principles of "openness, equality, competition, and merit" in its recruitmentprocess. Decisions are made irrespective of gender, ethnicity, religious beliefs, or referral source, with azero-tolerance policy toward discrimination in any form. Women represent of the company'sworkforce and hold of management positions.
18.47%
23.72%
Talent Acquisition and RetentionThe company consistently upholds a corporate culture centered on "employee care." Our comprehensivetalent acquisition strategy encompasses campus recruitment, social recruitment, and internal promotions,continuously optimizing our talent structure and expanding our talent pool. For campus recruitment, we haveestablished long-term partnerships with multiple comprehensive universities. We enhance our employerbrand through university donations, career planning courses, and on-campus career guidance exchanges. Oursocial recruitment efforts utilize multiple channels including online platforms, job fairs, executive searchfirms, and employee referrals. Internal mobility is strongly encouraged, with eligible employees able to applyfor positions through a structured interview process, providing diverse career path options. The company alsostrategically reassigns internal talent to enhance organizational efficiency and support business developmentneeds.For departing employees, department heads and HR representatives conduct two rounds of exit interviews togain deeper insights into their decision-making process. This approach not only offers an opportunity toretain top talent but also provides valuable feedback for continuous improvement of workplace practices andmanagement systems, ultimately enhancing employee satisfaction.
Employee Benefitsand Care
Employee BenefitsThe company earnestly implements its corporate culture centered on "employee care," strictly adhering to theLabor Law, Labor Contract Law, and other relevant regulations to safeguard employees' legitimate rights.Beyond statutory benefits, the company has developed a comprehensive benefits system based on overallemployee needs:
Employee ProtectionHeat subsidies, staff dormitories, health services, shuttle transportation, travel allowances, groupcommercial accident insurance, and employee mutual assistance insuranceStatutory Benefits
Incentives and Performance Assessment
Equity Incentives
Housing provident fund, pension insurance, maternity insurance, medical insurance,
unemployment insurance, and work-related injury insurance
2019
Stock Options
98.50
Restricted Stock
50.00 82020Stock Options1,000.00 872021Stock Options1,000.00
2022Stock Options1,000.00
2023Stock Options
578.00
2024
715.50226
Housing provident fund, pension insurance, maternity insurance, medical insurance, unemploymentinsurance, and work-related injury insurance
YearIncentive TypeNumber Granted (10,000 shares/options)Number of Recipients
Stock Options
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
Performance Assessment
Based on its respect for talent value, the company has established a performance management systemdesigned to unlock employee potential and facilitate personal achievement. This system aligns individual,departmental, and organizational performance objectives to effectively execute the company's strategicimplementation plans. Employee compensation is closely linked to performance, following principles of"openness, fairness, and equity" in comprehensive performance evaluations. The company's Remunerationand Evaluation Committee formulates performance assessment policies, providing guidance throughout theevaluation process and communicating feedback on results to help employees improve performance andfoster healthy competition.
Monthly Star Rating AssessmentBased on different levels of performance, five rating standards have been established. Directsupervisors evaluate each employee's monthly performance with a star rating, directly linking results tomonthly performance bonuses—higher ratings yield higher rewards.KPI and Special Project Assessments
Targeted KPI and special project assessments are implemented for key positions, guiding employees tofocus on input and output in critical performance areas.
"Quantity-Quality-Efficiency" Internal Control AssessmentTo enhance customer service and elevate operational performance, the company has developed anindustry-specific evaluation system for production managers and operational staff. This assessmentframework examines multiple dimensions including service efficiency, product quality assurance, andproduct loss control. Assessment results directly influence employees' special performance bonuses,creating a clear link between service excellence and compensation.
Cross-departmental Team Performance Assessment
To address the needs for coordinated management and communication across departments andregions, the company has established cross-functional teams for specialized projects. These teamscomprise members who maintain their primary roles within their respective departments whilesimultaneously serving on these interdepartmental task forces. To ensure effective coordination andencourage active participation, the company has implemented a cross-departmental team performancebonus system that rewards contributions to specialized projects.
2024 Training Overview1,721
Employee Training andDevelopment
Responding to the company's development needs, GR Management Academy continuously innovates its trainingmodels and methods. The Academy's "e-Learning" online platform was launched in March 2019, allowing trainingprograms to transcend the limitations of time and space. Leveraging the online learning platform, GR ManagementAcademy provides professional, systematic, and targeted training for employees across all levels andpositions, built on three pillars: key talent development, core competency enhancement, and professionaldevelopment certification.Currently, GR Management Academy effectively functions as a talent training base, a catalyst for managementtransformation, a knowledge asset manager, and a corporate culture ambassador. It has become a critical strategicdriver within the company, effectively ensuring sustainable, stable, and healthy corporate development.
Employee TrainingTo foster a learning organization and achieve sustainable development, the company has established a long-term vision by partnering with China Europe International Business School (CEIBS) and CEIBS Business Onlineto create an internal corporate university—GR Management Academy.
GR Management Academy upholds the following:
Mission: To strengthen core capabilities, pursue innovation for the company's sustainable and stable development, and promote employees' long-term and substantial progressMotto: Self-Cultivation, Moral Character, Professional Excellence, Innovation
2024 Training Overview
MaleFemaleManagement TeamNon-Management Team
1,403
2381,468
Safety Training Participants20,996 person-timesSafety Training Duration46,671Safety Training Participants25 Hours
"eEnterprise Learning" Online Platform
Online Training Participation177,301 person-timesTotal Learning Hours25,939.7 hoursAverage Learning Hours per Person
15.43 hours
Available Courses24,846 courses
Total Offline Training Hours61,747.51 hoursAverage Training Hours per Employee36 hoursAverage Training Hours - Male39 hours
Average Training Hours - Female22 hoursTraining Hours and Investment3,064,100 yuanSafety Education Sessions404 Sessions
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
Training System
To ensure the sustainable operation and standardized delivery of training initiatives, GR ManagementAcademy has developed targeted frameworks across multiple dimensions. These include daily trainingadministration, internal faculty development, curriculum design, and support for employee-driveneducational advancement and skills enhancement. Together, these systems provide the foundation forfostering a robust learning organization.
System Development
Applicants for Education & SkillEnhancement Subsidies in 202452people
Total Education & Skill EnhancementSubsidies Distributed in 2024395,605 yuan
Special-grade Skill Certification/SeniorProfessional Title
Advanced Skill Certification/AssociateSenior Professional Title
Intermediate Skill Certification/IntermediateProfessional Title
Entry-level Skill Certification/JuniorProfessional Title
Instructor Team
Certified internal instructors are critical to the success of our training programs. GR ManagementAcademy maintains a rigorous system of ongoing certification, empowerment, and management for itsteaching faculty. By establishing clear advancement pathways, evaluation criteria, and compensationbenefits, the Academy energizes its team of certified internal instructors and maximizes theireffectiveness.
No. of Gold Medal Instruct
No. of Senior Instructors
No. of Intermediate Instructors
No. of Junior Instructors
Innovative ThinkingTo foster a learning organization and enhance leadership and learning capabilities among middle andsenior management, the Academy has implemented a book-sharing program for middle and seniormanagement. Aligned with the company's practical needs, this initiative has identified key action plansfocusing on business intelligence management transformation, customer relationship management, HRthree-pillar construction, business process optimization, and project management advancement.Key Action Items for SupervisionCentralized Sharing SessionsImplemented Projects
No. of Senior Executive ParticipantsNo. of Middle and Senior Management Participants23 Items10sessions18projects
62people284people
Knowledge ConsolidationIn its role as custodian of the company's intellectual capital, GR Management Academy hasimplemented standardized frameworks for curriculum development. Through regular harvesting ofinternal expertise and best practices, the Academy has created a suite of practical learning modulesthat directly address real business challenges and operational contexts. Additionally, GR ManagementAcademy continuously refines its knowledge management approaches. By leveraging the "eEnterpriseLearning" online platform for digital knowledge distribution, the Academy enhances the circulation andutilization of intellectual assets throughout the organization.
No. of Internally Developed Offline Courses
No. of Internally Developed Micro-courses
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
During their tenure, the Rotating President serves as the highest responsible officer for the company'soperations and crisis management, accountable for the company's survival and development.
To accommodate the company's rapid expansion, growing number of subsidiaries, and increasingmanagement scope and complexity, timely adjustments to the company's operational and managementorganizational structure have become necessary. The Excellence Business School was engaged toimplement the Executive Management Team project, providing online and offline guidance and trainingfor the company's EMT team and business partners in various centers/units.Consulting Project Investment Cost
207.5million yuan100%
Sessions Conducted5sessions
Total Days25days
"Providing quality service to customers" is the company's mission. In response to the need for enhancedservice capabilities in customer-facing positions, GR Management Academy implemented customer servicetraining across all units and departments. Through a combination of online skill development, in-person casediscussions, and continuous performance improvement initiatives, employees progressed from conceptualunderstanding to behavioral change and ultimately performance enhancement. This comprehensive approachhas resulted in significant improvements in employee service capabilities and increased customer satisfaction.
Strategy and Talent Development
Strategic Management TransformationEstablishment of the Executive Management Team (EMT)To establish a unified strategic vision and lay the groundwork for successful implementation of strategicinitiatives, the company held a launch ceremony for its Strategic Management Project on August 13, 2024. TheStrategic Management Project team will drive the adoption of advanced strategic frameworks andmanagement practices, supporting the continued high-quality development of our company.
Rotating President System
"Executive Management Team" Project
To strengthen the foundation of the company's safety management system, develop a professional safetymanagement talent pool, and comply with regulatory requirements such as the "Classification ManagementMeasures for Certified Safety Managers" and other safety laws and regulations. Building on previousexperience with Certified Safety Engineer exam preparation, GR Management Academy enhanced its approachby implementing a blended learning format combining "in-person intensive training sessions with online reviewsupport." This new methodology effectively increased both the exam pass rate and the overall percentage ofcertified professionals within the company during the 2024 Certified Safety Engineer examinations.
No. of Candidates Certified in 2024
13people
2024 Certification Pass Rate
32.5% (higher than the national average pass rate of 7.5%-8.7% )
Core Competency Enhancement
HSE Capability
Post-training Average Customer Satisfaction
99.4points
Improvement in Service Capability Evaluation by Direct Supervisors
11%EMT Team: Responsible for reviewing major company operations, management, and development matters, aswell as issues submitted by departments and subsidiaries.EMT Director: Assumed by the current Rotating President, responsible for chairing the monthly EMTmeetings.
Customer Service Capabilities
Business development positions represent strategic roles within the company, particularly as chemicalwarehouse operations have progressively come online this year. A high-performing commercial team isessential for successful strategy implementation. To address this need, the Management Academyconducted multiple rounds of needs assessment with chemical warehouse leadership and relevantdepartments. Based on corporate strategy and business unit requirements, the Academy developedsystematic training for personnel in chemical warehouse commercial roles. This initiative, known as the"Chemical Warehouse Commercial Talent Transformation Project," ensures the commercial team hasboth the capabilities and confidence to succeed in this critical initial phase of operations.
Professional Position Capabilities
The company has established a professional qualification certification system for "Petroleum Storageand Transportation Operators," which has effectively enhanced the professional competence of keyoperational roles. In 2024, GR Management Academy collaborated with the Dongguan HumanResources and Social Security Bureau and Zhitong Vocational Training Institute to implement aninnovative modern apprenticeship model. This initiative represents a transformation from simplyevaluating staff competencies to building comprehensive career development pathways.2024 Professional Rank Certification Status
Career Development and Certification
Chemical Warehouse Business Talent Transformation Project:
Completed 4 offline courses and 12 online courses, with a 90% course completion rate and 94% action planimplementation rate.Participant Competency Enhancement: Through an integrated training approach that combinesinstruction with practical application, participants gained deeper understanding of product characteristicsand competitive advantages, resulting in significant improvement of their overall professionalcapabilities. Customer Satisfaction Improvement: Customer satisfaction increased by 15 percentagepoints during the period.A three-month program was conducted for 47 participants, covering products, market expansion, andcustomer service through 5 offline courses and 12 online courses.
Level 25people
Level 3
29people
Level 4
11people
Level 5
3people
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
Employee Healthand Safety
Safety Management System
Occupational Health and Safety ManagementSystem Development and ISO 45001 Certification
System Development
Great River Smarter Logistics has established an OccupationalHealth and Safety Management System (OHSMS) in compliance withISO 45001 standards, covering the complete chain of riskidentification-control-monitoring-improvement, including:
Policy Framework: Formulated core documents such as "SafetyProduction Responsibility System" and "HSE ManagementProcedures";Risk Management: Implemented hierarchical risk control throughtools such as HAZOP analysis and Job Safety Analysis (JSA);Continuous Improvement: Ensured system effectiveness throughinternal audits, management reviews, and third-party certification.
Organizational Structure and Responsibilities (Excerpted from "Great River Smarter Logistics HSE Management Procedures")
HSE Management SystemAchieving four goals through the HSE management system
environmentalexceedances
occupationaldiseases
adverse HSEsocial impactsAchieving fourzero targets
casualties
HSE Management SystemPolicies, Concepts, Elements, MechanismsRisk Grading ControlHidden Danger Investigation and ManagementMergers and Acquisitions HSE ManagementAccident ManagementEnvironmental ManagementEmergency and Crisis ManagementHazardous Chemicals Management
Fire Protection and Security ManagementTeam BuildingContractor ManagementPermit ManagementOccupational Health ManagementBehavior ManagementProcess ManagementChange Management
HSE Management Office
Board of Directors
Various Storage AreasExternal Consulting Units
Chief Safety Production Supervisor
Safety EngineersDeputy Safety Production Supervisor
EnvironmentalProtection Engineers
EnvironmentalProtection Director
Functional Centers at Headquarters
Executive Deputy DirectorChief Advisor
HSE and Innovation Committee (chaired by the company's chairman)
Director (served by the company's chairman)
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
All 14 subsidiary companies engaged in petrochemical storage services have obtained ISO 45001certification. The certification documents are as follows:
ISO 45001 CertificationOccupational Health and Safety PoliciesGreat River Smarter Logistics Headquarters HSE Tier 3 Documents
HSE Meeting Management MeasuresOperational Project HSE InspectionManagement MeasuresGreat River Smarter Logistics Standardized Solid Waste Management MeasuresGreat River Smarter Logistics OccupationalHealth Management MeasuresHSE Expert Database Management MeasuresGreat River Smarter Logistics HSE PrimaryResponsibility Performance Assessment MeasuresGreat River Smarter Logistics Operational Incident Management MeasuresGreat River Smarter Logistics HSE DirectorAccountability MeasuresHSE Information Reporting Management MeasuresGreat River Smarter Logistics ConstructionProject HSE Management MeasuresGreat River Smarter Logistics ConstructionProject HSE Inspection MeasuresGreat River Smarter Logistics EquipmentAnti-Corrosion Management MeasuresGreat River Smarter Logistics ConstructionProject Pre-Shift Safety Morning MeetingManagement SystemGreat River Smarter Logistics ConstructionProject Equipment and Facilities SafetyManagement Measures
S/NDocumentsS/NDocuments
Great River Smarter Logistics GeneralWork Permit Management MeasuresGreat River Smarter Logistics SolidWaste Standardized Management MeasuresGreat River Smarter Logistics WastewaterTreatment Management SystemGreat River Smarter Logistics VOCs Control Working SystemGreat River Smarter Logistics EnvironmentalProtection Monitoring Management SystemGreat River Smarter Logistics Energy Conservationand Emission Reduction Management MeasuresGreat River Smarter Logistics Oil and GasRecovery Equipment Management SystemGreat River Smarter Logistics Environmental Emergency Response Management SystemGreat River Smarter Logistics Environmental Information Disclosure Management SystemGreat River Smarter Logistics EnvironmentalProtection Supervision and Inspection SystemGreat River Smarter Logistics Loading and Unloading Vehicle VOCs Control Management RegulationsGreat River Smarter Logistics General Solid Waste Management MeasuresGreat River Smarter Logistics Annual Safety Production Advanced Team Selection SystemGreat River Smarter Logistics Hazard ReportingReward Management Measures
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
Strict Implementation of Chemical Storage andHandling Safety Management Systems
Storage Safety Management SystemThe company strictly follows regulations such as the "Regulations on Safety Management of HazardousChemicals" and "Port Dangerous Goods Safety Management Regulations" to establish a professional storagecontrol mechanism:
Zoned and Classified Management: Separate storage areas are designated based on chemical properties(flammability, fire extinguishing characteristics, toxicity, etc.), implementing a "one product, one label"identification system, equipped with explosion-proof electrical equipment, gas detection, and overflow alarmsafety instrumentation systems.Intelligent Monitoring: Real-time monitoring of storage tank temperature, pressure, liquid level, and otherparameters, with corresponding alarm signals to promptly identify and address abnormalities.Third-party Compliance Audits: Third-party institutions are commissioned to conduct storage tank safetyintegrity assessments and inspections, achieving a 100% tank inspection compliance rate by 2024.
Loading and Unloading Risk Control
Stakeholder Engagement
Board Governance and Industry Recognition
In 2024, Great River Smarter Logistics received the "Listed Company Board of Directors Typical
Practice Case" award from the China Association of Listed Companies, reflecting the company's
governance effectiveness and sustainable development capabilities.
Community Responsibility
Nanjing GR Terminal, in conjunction with fire departments, conducted "Public Open Day"
activities to educate residents about hazardous chemical safety, reaching over 800 participants
cumulatively.
Safety Production and Occupational Disease Management TrainingIn 2024, Great River Smarter Logistics continued to conduct capability enhancement training for middle and seniormanagement to strengthen safety performance, including safety leadership, emergency spokesperson skills, "ThreeBasics" management practices, emergency scenario construction, and production safety accident accountability andmanagement improvement. 8 training sessions were conducted in 2024, with topics including "Safety Leadership,""SIL Classification and SIS System Function Explanation and Maintenance Interpretation," "Chemical Industry Lawsand Regulations," "Analysis of Typical Cases in Inspection and Maintenance," "Risk Management," "CorporateEnvironmental Protection Management," "Petroleum Storage Facility Design Standards," and "Safety Core TrainingCamp."Major Hazard Source Management
Great River Smarter Logistics and its subsidiaries strictly adhere to the "Interim Provisions on the Supervisionand Administration of Major Hazardous Sources of Dangerous Chemicals," implementing systematicmanagement for major hazard sources involved in petrochemical storage operations.Compliance Filing and System Development: In accordance with regulatory requirements, 14 subsidiarieshave completed classification (Levels 1-3) and local registration of major hazard sources, established "onesource, one file" dynamic records, and regularly updated emergency response plans filed with regulatoryauthorities. The company has simultaneously implemented safety accountability systems for key personnel,clearly defining inspection frequencies and risk control checklists for management at all levels.Technical Controls and Risk Assessment: For major hazard units such as tank farms and warehouses, thecompany has deployed automated temperature, pressure, and level monitoring systems with safety interlocks(such as SIS systems). Comprehensive safety assessments are conducted by third-party institutions everythree years, supplemented by annual HAZOP analyses and hazard investigation reports to ensure equipment,facilities, and operational procedures comply with national standards (such as GB 18218, GB 36894).Routine Management and Social Responsibility: The company strictly implements annual safety training plansas required by regulations, covering frontline operators, contractors, and emergency response teams. Jointresponse mechanisms have been established with local emergency management departments, with regularspecialized drills for chemical leaks and fires. "Behavioral Safety Observation" and "Employee HazardReporting Reward" systems have been implemented, providing incentives for employees who identify andreport potential hazards. "Public Open Day" activities promote hazardous chemical safety knowledge toresidents, reaching over 800 participants to date. The company has established joint emergency resourcerepositories with communities/industrial parks, equipped with chemical protection suits, absorbent materials,and other resources to enhance regional joint defense capabilities. VOCs recovery, anti-leakage, andlightning protection facilities have been constructed in tank farm areas to reduce the risk of secondaryenvironmental incidents. Basic information about major hazard sources is disclosed through the corporatewebsite and announcement boards, fulfilling public right-to-know obligations.
Process Control: Operators participate in loading and unloading operations, implementing a "dual verificationand call-out" system (pre-operation verification of cargo information and pipeline valve status).Leak Prevention Technology: Closed loading/unloading systems and vapor recovery devices are employed,resulting in a 12% year-on-year reduction in VOCs emissions from loading/unloading operations in 2024.Emergency Cooperation: Safety mutual assistance agreements have been signed with neighboring facilities,establishing clear procedures for joint response to leakage incidents, with quarterly emergency drillsfocusing on loading/unloading operations.
Community Communication: Regular distribution of "Storage Chemical Safety Notification" to surroundingresidents, detailing stored substance categories, emergency contact information, and safety guidelines.Supply Chain Collaboration: Customers are required to provide compliant chemical technical documentation(such as SDS), with cargo safety verification completed prior to loading/unloading.
Case Studies
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
Company Emergency ManagementOrganizational StructureGreat River Smarter Logistics has established an Emergency Management Leadership Group chaired bythe company's Chairman. Member units include the HSE Office, Human Resources Center, OperationsCenter, Business Center, Procurement Center, Finance Center, and other relevant functional centers(departments), with the heads of each center (department) serving as members of the LeadershipGroup.
Technical Prevention and Intelligent MonitoringAI Leakage Early Warning System: Taicang Power Shell Terminal introduced AI acoustic detection technologyto analyze sound pattern characteristics of storage tank flanges and valves, identifying minute leakage pointsin real time. In 2024, the system successfully provided early warnings and facilitated repairs of 7 potentialleakage points.Third-Party Assessment and StandardizationSafety Management System Upgrade: In collaboration with the China Occupational Safety and HealthAssociation, the company completed the top-level design of a safety management system covering six majormodules including risk assessment, equipment integrity, and team capability building. Nantong Power ShellTerminal, through a pilot project, achieved an interim goal of "30% reduction in equipment failure rate."
Emergency Risk Identification Results
Digital or Platform-Based Management ofEmployee Health and Safety Cases
Great River Smarter Logistics has developed several digital platformsincluding the "E-Learning Platform," "Changshu Hongzhi ChemicalWarehouse Digital Platform," "Special Operations Electronic Work PermitSystem," and "Hazard Investigation and Control System." Following theprinciples of "risk pre-control, process closed-loop, and full employeeparticipation," the company has built a comprehensive digital managementecosystem covering "training empowerment-operation control-hazardmanagement" to achieve refined and standardized safety management.
Example of Subsidiary Company Emergency Structure:
Four core risks have been identified:
Emergency Response Leadership Team
Commander-in-ChiefExpert GroupEmergency Management Office
On-site Command
Response Measures and Typical Cases
Storage Tank Leakage Risk:
Fire and Explosion Risk:
Secondary Environmental Pollution Risk:
Loading/Unloading Operation Risk:
Chemical leaks caused by equipment aging, operational errors, orextreme weather, potentially leading to environmental contamination and safety incidents.
Fire hazards in flammable chemical storage areas due to staticelectricity, equipment failure, or human factors, threatening personnel and facility safety.
Leakage incidents potentially causing soil and watercontamination, requiring prevention and control of secondary environmental disasters.
Operational risks such as pipeline ruptures and valvefailures during dock and tank farm transfer operations.
E-Learning Platform (Safety Training Hub)Customized Courses and Assessments: Developed over 30 course categories covering hazardous chemicalstorage procedures, emergency rescue, and occupational health, with annual participation exceeding 2,000employee sessions and a 95% assessment pass rate.Permission Linkage Mechanism: Only employees who pass assessments can obtain operational permissions inthe "Special Operations Electronic Work Permit System," creating a closed-loop "training-authorization-jobassignment" management system.Changshu Hongzhi Terminal Digital Platform (Field Monitoring Hub)Real-time Data Integration: Integrates IoT monitoring data including warehouse temperature and humidity,gas concentration, and fire system parameters, with automatic triggers for abnormal values.Special Operations Electronic Work Permit System (High-risk Operation Control)Process Standardization: Online approval process for eight categories of high-risk operations including hotwork and confined space entry, with system-enforced linkage to operation risk analysis and protectivemeasure checklists.Personnel Qualification Verification: Automatic verification of operators' training certificates and specialoperation qualifications to prevent unauthorized work.Hazard Investigation and Control System (Risk Prevention Closed Loop)Whole Team Reporting: Employees can report hazards anytime via mobile terminals, with automatic systemclassification and assignment of rectification tasks. In 2024, 580 hazards were processed with a 98%completion rate.Intelligent Analysis and Early Warning: Risk heat maps generated based on historical data, with targeteddistribution of specialized training courses for high-frequency hazard points, resulting in a 35% decrease inrecurrence of similar issues.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
EmergencyContainment Team
Firefighting Team
Security, Evacuation and Monitoring TeamInformation and Communication Team
Medical Response Team
Emergency Technical Team
Logistics Support Team
Safety Impact, Risk and OpportunityManagement
Occupational Health and Safety Risks Faced by Employees
Direct Contact: Leakage or evaporation of hazardous chemicals (such as flammable liquids, corrosivesubstances, toxic gases) may cause skin burns, respiratory tract damage, or chronic poisoning.Indirect Exposure: Long-term accumulation of volatile organic compounds (VOCs) in storageenvironments may affect respiratory system health.
Chemical Exposure Risks
Physical Hazards
Environmental and Operational Process Risks
Risk Management Initiatives and Processes
The company integrates risk control into daily operations through alifecycle management system, responding to ESG (Environmental, Social,and Governance) objectives:
Sustainable Development Opportunities
Intelligent storage systems can simultaneously reduce safety risks and operational costs.
Technology Upgrade Driving Efficiency
Industry Benchmark Effect
Policy Compliance AdvantageHigh-standard management enhances customer trust, helping to secure high value-added orders.
Early adaptation to national safety production laws and regulations helps avoid penalty risks.Through these measures, Great River Smarter Logistics controls occupational health and safety risks atthe ALARP (As Low As Reasonably Practicable) level, while transforming risk management into a coredriving force for enterprise resilience enhancement and sustainable development.
Mechanical Injuries: Improper operation of storage tanks, pipelines, forklifts, and other equipment canlead to collision and crushing accidents.Fire and Explosion: Loss of control of hazardous chemical storage conditions (temperature, pressure,sealing) or static electricity accumulation may trigger combustion and explosion.
Emergency Response Pressure: High-intensity operations required forhandling sudden leaks or accidents can easily lead to psychological stressand operational errors.Human Factors: Process violations (such as failure to wear PPE, valvemisoperation) or insufficient training can trigger chain risks.
Risk Identification and AssessmentHazard and Operability Analysis (HAZOP) and Layer of Protection Analysis (LOPA): Systematicallyidentifies potential risk points in tank farms and loading/unloading areas.Job Safety Analysis (JSA): Breaks down steps for specific operations (such as hazardous chemicalrepackaging, inspection, and maintenance) and assesses risk levels.Safety Data Sheet (SDS) Management: Develops exposure limits and emergency handling guidelinesbased on chemical properties to ensure information transparency.
Engineering Control and Technical MonitoringAutomation and Closed Systems: Use of intelligent tank level monitoring, automatic sprinkler systems,and gas leak detectors to reduce manual contact.Environmental Monitoring Network: Deployment of combustible gas alarms and VOCs online monitoringinstruments, transmitting data to the central control room in real time.Explosion Protection and Static Electricity Management: Multiple protective measures including tankgrounding devices, explosion-proof electrical equipment, and anti-static work clothing.Personnel Protection and TrainingTiered PPE Configuration: Equipment ranging from Level A (fully enclosed chemical protective suits) toLevel D (basic protection) based on exposure risk.Simulation Drills and Certification: Regular leak plugging and fire evacuation drills, with employeesrequired to pass hazardous chemical operation qualification assessments.Behavioral Safety Observation: Management participation in site inspections to correct unsafebehaviors and provide feedback to the training system.Employee Hazard Reporting Rewards: Encouraging hazard reporting through rewards to increaseindividual initiative and Great River ownership awareness.Emergency Response and Sustainable Development IntegrationThree-Tier Emergency Plans: Company-level, regional-level, and group-level linked responsemechanisms for scenarios such as leaks and fires.Clean Production and Recycling: Reducing environmental load and health risk sources throughwastewater reuse and RTO technology.Continuous Improvement MechanismPDCA Cycle: Regular review of OHSAS18001/ISO45001 system effectiveness through Plan-Do-Check-Act closed-loop management.Stakeholder Engagement: Sharing safety data with customers and neighboring enterprises,participating in industry safety standard development, and enhancing supply chain collaborative riskmanagement capabilities.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportEmployee Recruitment and Development
Product Responsibility
Technological InnovationTechnological Innovation AchievementsDigitalization and IntelligenceProduct QualityProduct Quality Management SystemCustomer ServiceCustomer Service SystemResponsible Marketing
Innovation Management System
TechnologicalInnovation
Great River Smarter Logistics remains committed to an innovation-driven development strategy. Thecompany has further enhanced its technological innovation mechanisms and institutional frameworks,strengthened research platforms, consistently increased R&D investments, and intensified incentives fortechnological innovation. Additionally, the organization has optimized the structure and functionalresponsibilities of its R&D departments to elevate technical development capabilities.The company adheres to an approach guided by industry trends and customer requirements. Great Riveractively explores new business domains to ensure service standards keep pace with evolving industrydevelopments while enhancing customer satisfaction.
Technological Innovation InitiativesGreat River Smarter Logistics has established a comprehensive and mature R&D framework, placing highimportance on continuously strengthening its research team and enhancing R&D capabilities. In 2024, thecompany invested RMB 51.61 million in research and development activities. By the end of 2024, thecompany's R&D personnel reached 259 professionals. The rapid expansion of the R&D team has effectivelytransformed numerous research outcomes into practical applications and continuously optimized relatedprocess technologies.In the field of green technology innovation, the company upholds the development philosophy of "InnovatingGreen Technology, Protecting Our Planet." Great River actively engages in the development of technologiesand products focused on energy conservation and environmental protection. The company has successfullydeveloped the Taicang Power Shell Terminal Process Monitoring System and Electronic Work PermitManagement System, among other innovations. These systems replace paper-based records with fullydigitalized management throughout the entire process, reducing resource consumption and wastegeneration. These innovations effectively improve energy utilization efficiency and reduce energy waste,contributing significantly to energy conservation and environmental protection initiatives.
Technological Innovation Achievements
2024 Core System Optimization
Comprehensive SAP System UpgradeEstablished a three-tier architecture (contract-terms-fee) in the chemical warehouse settlement module,enabling parallel processing of multiple settlement methods. Introduced special fee mechanisms to enhancedaily settlement accuracy, strengthened multi-dimensional cost analysis and dynamic adjustment capabilities,and reinforced financial compliance and cost control. Integrated electronic invoice platform interfaces toachieve fully automated invoicing (90% efficiency improvement), with real-time customer notification utilizingdata encryption and dual-log tracing mechanisms to ensure information security, promoting green operationsand digital transformation.
Digitalization and Intelligence
Enhanced foundational capabilities (multi-language support, intelligent attendance management, secure loginframework) to improve user experience; reconstructed over 100 business processes to precisely matchmanagement scenarios; developed customized module clusters covering filing management, expense budgeting,procurement quotations, energy monitoring, and multi-system integration, while strengthening cross-platformcollaboration capabilities. The upgraded system achieves end-to-end digitalization across all business operations,significantly boosting operational efficiency and effectively supporting the company's strategic advancementtoward becoming a global leader in energy and chemical warehousing and logistics services.Established a group-level data governance framework, strengthening multi-dimensional statistical analysis andrefined permission management; reconstructed the compensation calculation model, introducing a multi-factor dynamic assessment mechanism to enhance distribution equity; standardized subsidiary creationprocesses, supporting one-click automated configuration. The upgraded system achieves digital control acrossthe entire human resources value chain, enhancing compliance while reducing operational costs, empoweringthe implementation of the group's sustainable development strategy.
Optimization and Upgrade of Smart Customer Service Platform
Added electronic signature, Alibaba Cloud SMS/voice and Golden Tax invoice integration, supporting digitalscenarios such as online payment collection and automated appointment generation; optimized processesincluding overtime entry applications and inventory batch consolidation, improving operational efficiency by30%; enhanced mobile mini-programs with shipping import and loading bay query functions, strengtheningmobile convenience; integrated key account systems and upgraded OCR recognition and mutually exclusivelogin security mechanisms. Over 60 improvements comprehensively connect business process automationwith multi-terminal collaboration, enhancing risk management capabilities and comprehensively improvingcustomer satisfaction, supporting cost reduction, efficiency improvement, and digital transformation.Achieved 50% efficiency improvement through unmanned intelligent weighing systems, reducing labor costs,with data transparency anti-fraud technology enabling full traceability. Constructed a "Data Center + BusinessHub + Unified Portal" integrated system: the Data Center integrates government affairs, vessel tracking, andother multi-source data, completing cross-system governance; the Business Hub expands vehiclemanagement, asset QR code, and other modules, forming an extensible middle platform; the Unified Portalintegrates six major systems including vessel monitoring and transportation cloud, leveraging enterpriseWeChat to implement hierarchical authentication and single sign-on. These technology-driven supply chainautomation upgrades significantly enhance customer satisfaction, supporting sustainable production anddeepening customer trust.
Optimization and Upgrade of Production Operations Management Platform
Comprehensive OA System Upgrade
Comprehensive HR System Upgrade
During the reporting period, invention patents were filed, patents were granted, and the companymaintained 71 valid patents.During the reporting period, the company's subsidiaries: Nanjing GR Terminal, Changshu GR Terminal, andDongguan Evergrowing Terminal were certified as high-tech enterprises.During the reporting period, software copyrights were applied for
1712
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
Taicang Power Shell Process Monitoring System
Case StudiesEnvironmental
Resource Efficiency Enhancement:End-to-end digital management has replaced paper records, reducing resource consumption andwaste generation. Intelligent verification and automated data collection optimize process workflows, minimizing energy waste andindirectly reducing carbon emissions.Green Process Assurance:Real-time monitoring of storage tank levels, pipeline pressure, and other parameters ensures processstability, preventing material leakage or environmental contamination caused by operational errors.
Great River Smarter Logistics upholds its core values of "customer-centricity, HSE as foundation, contributorrecognition, long-term commitment, and continuous innovation." Operating in full compliance with ISO 9001standards and relevant regulatory frameworks, the company leverages its Smart Customer Service System toensure complete traceability throughout the cargo custody chain, guaranteeing service reliability and safety.The company's quality management strategy emphasizes digital transformation and supply chaincollaboration, with the Strategy and Marketing Department aligning quality objectives with corporate goalswhile the Process and Digitalization Center deploys IoT and big data analytics for real-time storagemonitoring and risk alert optimization.Internally, the company combines strict control mechanisms with benchmark management practices tominimize material losses through refined management processes, enhancing customer satisfaction andprotecting client interests. The comprehensive product management protocols standardize each step fromsampling requirements and methodologies to sample handling and emergency response procedures,safeguarding stored goods quality and safety throughout all operational stages.
Product Quality
Terminal and Storage Tank OperationsThe company has implemented rigorous "New Product Compatibility Assessment Protocols" and "InventoryQuality Control Standards" that govern the handling of chemical products. These frameworks ensuredisciplined adherence to standardized procedures for receiving, dispatching, and inventory verification ofchemical products. Quality assurance begins with thorough validation of transport equipment and continueswith systematic quality monitoring using state-of-the-art testing instruments and analytical techniques.Through strategic partnerships with leading global inspection authorities and through company-operatedlaboratories at each terminal facility, the company conducts methodical quality verification of all chemicalproducts during receipt and dispatch operations, effectively preventing contamination, degradation, or otherquality compromises.
Electronic Work Permit Management System
Enhanced Safety Production:The intelligent early warning systems monitor equipment anomalies (such as overpressure,overtemperature) in real-time, promptly alerting and suggesting corrective measures, significantly reducing accident risks andprotecting employees and community safety. Standardized procedures and barcode verification mechanisms reduce human errorand improve operational compliance.Employee Empowerment and Collaboration Enhancement:Multi-platform coordination (mini-programs, PC, large displays)enables efficient information transfer, reducing communication costs and enhancing employee productivity and collaborationexperience. Mobile approval and barcode verification technologies simplify field operations, reducing labor intensity.
Social
Data-Driven Transparent Management:Full-process data recording and traceability functions enhance quality managementtransparency, providing a scientific basis for decision-making and driving governance structure optimization. The basic datamanagement module integrates pipeline, storage tank, and other multi-dimensional information, supporting precise decision-making for resource allocation and process improvements.Risk Prevention and Compliance:Built-in intelligent verification rules (such as oil type matching, pipeline continuity checks)ensure operational compliance, reducing legal and compliance risks. Electronic tag (NFC) technology enables unique equipmentidentification, strengthening asset management standardization and traceability.
Governance
Reducing Resource Consumption:Fully electronic work permit processes replace traditional paper documents, reducingpaper consumption by several tons annually, decreasing pressure on forest resources and waste generation.Pollution Prevention and Control:The built-in "Gas Management" module sets toxic and hazardous gas detectionstandards(such as CO, H?S), monitors gas concentrations in the working environment in real-time, and automaticallysuspends operations when exceeding limits, preventing environmental pollution incidents.Energy Efficiency Improvement:Through mobile mini-programs and cloud data processing, reduces on-site personneltravel for approvals, indirectly lowering carbon emissions.
Environmental
Ensuring Employee Safety:Mandatory identification of risk factors and safety measures development before operationsto reduce accident rates. In high-risk operations , such as hot work, supervisors must regularly test gas data, with thesystem automatically warning of abnormal conditions. All participants must confirm risk notification items point by point,ensuring safety responsibility implementation to individuals.Contractor Collaborative Management:Unified management of internal employee and contractor qualificationcertificates, with automatic renewal reminders upon expiration, eliminating risks of working without proper certification.Transparent Operation Processes:Real-time tracking of operation progress and approval status via mobile devicesenhances employee trust and sense of belonging.
Social
GovernanceStandardized Process Control:The workflow engines enforce standardized steps for permit issuance, approval,acceptance, and other processes, eliminating human oversight. Automatic escalation mechanisms for special operations(such as elevated approval for nighttime hot work), strengthening compliance.Data Traceability and Accountability:Comprehensive operation log recording, supporting traceability at any stage andmeeting regulatory audit requirements. Tiered permission management (role + menu control), ensuring sensitive data isaccessible only to authorized personnel.Intelligent Analysis and Decision-Making:Statistics on the proportion of eight major operation types, regional riskdistribution, and other data assist management in optimizing resource allocation. The "Regulatory Operation Statistics"module focuses on major/significant risk operations, improving senior management supervision efficiency.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
Inbound Operations: Great River Smarter Logistics accepts cargo delivered via multiple transportation
modes including vessels, tank trucks, and rail transport, delivering comprehensive receiving servicesthroughout its network.
Measurement Management: Storagefacilities are equipped with precisemeasurement systems, utilizing high-precision automated measurementequipment (such as batch controllers, massflowmeters, and volumetric flowmeters) forreal-time monitoring and recording of goods,ensuring accurate cargo quantityverification.
Storage Solutions: (1) Storage Infrastructure: The company maintains a diverse tank storage portfoliotailored to the specific characteristics of customer products. The infrastructure includes stainless steel andcarbon steel tanks based on material composition; heated, refrigerated, and ambient temperature tanksclassified by functionality; and spherical tanks, vertical tanks, and horizontal tanks organized by type,comprehensively meeting the storage requirements for various goods.
Development of a "Perception-Decision-Execution-Optimization" Closed-Loop Management System
By integrating internet technologies with the Smart Customer Service System, the company has established a comprehensiveclosed-loop management framework based on "perception-decision-execution-optimization" principles, enabling intelligenttransformation of port operations and enhancing operational efficiency.Commercial-Operational Collaborative Workflow: The Commercial Center integrates vessel tracking data, port informationsystems, and meteorological forecasts to establish vessel berthing prediction plans and synchronize berthing schedules. TheOperations Center prepares berthing and operational processes in advance based on vessel movements, reducing waitingtimes.Appointment Scheduling and Self-Service Documentation Systems: Customers can remotely schedule terminal visits throughthe appointment system. The Operations Center deploys resources based on anticipated workloads, allowing customers toquickly access loading/unloading areas, significantly improving terminal throughput efficiency.
The appointment scheduling systemworkflow is illustrated below:
Start
Mini programappointmentsubmission (Driver)
Terminalentryregistration (Gate)
First weighing
(Unmannedweighbridge)
Loading/unloading(Operation)
Approval (Order creation)
Second weighingand weight noteprinting (Unmanned weighbridge)Warehouse exitregistration (Gate)End
Plan on customerplatform (Customer)
SAP orderplacement
(Order creation)
Quality Control: The company regularly conducts quality inventories of stored goods,strictly controlling quality losses within customer-specified parameters. For materialswith special requirements or those prone to quality changes, the company implementsspecialized measures such as nitrogen blanketing, refrigeration, antioxidant addition,appropriate tank selection, and regular sampling and monitoring. These processesenable timely observation of key quality indicator trends and prompt implementation ofcorrective measures, ensuring effective management of material degradation.
Unmanned WeighbridgeSystem with Automatic Identification
Mass FlowmeterLoading BatchControl Device
StorageOperationsInboundOutbound
Provide multiple types of storage tanksProvide multiple typesof storage tanks
Provide precisemeasurement managementMeet customized customerrequirementsAchieve receipt anddelivery operations throughprocess allocationVessel
Tank truck
TrainPipeline Transportation
Vessel
Tank truck
Train
Vessel Berthing Laser Monitoring System:The company has implemented anadvanced laser monitoring system for vessel berthing operations to maximize safetyduring these critical procedures. This comprehensive system integrates severalcoordinated subsystems: the active collision warning system features explosion-prooflaser scanning sensors positioned along the quayside that monitor a 1150m x 300m areaat the terminal approach. When vessels enter designated collision warning zones, thesystem automatically triggers alerts through high-powered speakers while simultaneouslyactivating cameras that track and record the vessel's movement trajectory. The passivecollision warning system functions by receiving and decoding vessel AIS signals. Upondetecting vessels in warning zones, the system autonomously activates audible warningsand initiates camera tracking to document movement patterns and provide videoverification.The system is fully integrated with VHF communications infrastructure. Whenthe laser monitoring detects irregular vessel navigation patterns, it immediately triggersan alarm protocol, enabling control room operators to issue VHF warnings while alertingterminal personnel to prepare for contingency operations, significantly enhancing safetyduring berthing and unberthing maneuvers.
Regular Sampling andLaboratory Analysis
Automated Tank Cleaning System:The company has developed an automated tankcleaning system utilizing 360° comprehensive cleaning technology that ensurescomplete coverage of tank walls and floor surfaces without blind spots. This innovativesystem overcomes traditional process limitations by eliminating the need for personnelentry into tanks while simultaneously performing gas displacement and cleaning operations, significantly reducing projecttimelines. The system is compatible with multiple cleaning media including acids, alkalis, water, and inerted organicsolvents. This cleaning technology achieves substantial water conservation compared to traditional fire hose flushingmethods. The intelligent control system, working in conjunction with high-pressure spray equipment, enhances cleaningefficiency while maintaining inherent safety standards, making it particularly suitable for the efficient and environmentallyresponsible cleaning requirements of hazardous chemical storage tanks.
Storage Infrastructure: The company maintains a diverse tank storage portfolio tailored to the specificcharacteristics of customer products. The infrastructure includes stainless steel and carbon steel tanksbased on material composition; heated,refrigerated, and ambient temperaturetanks classified by functionality; andspherical tanks, vertical tanks, andhorizontal tanks organized by type,comprehensively meeting the storagerequirements for various goods.
Storage Solutions
Operations:
Process Coordination: The company facilitates cargo receiving and dispatching through processcoordination, flexibly utilizing hoses to arrange workflows according to operational needs, efficiently meetingcustomer requirements and improving operational efficiency. (2) Personalized Services: Based on specificcustomer requirements, the company provides customized services including pipeline operations, tanktransfer operations, water separation operations, and drum handling operations.
Self-service machine ticket printing
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
Horizontal tanksSpherical TanksVertical Storage Tanks
Pipeline Transportation
ISO Quality Management System CertificationAll subsidiaries within the Terminal Storage Tank segment have obtained ISO Quality Management Systemcertification, reflecting years of dedication to quality management excellence. The organization actively advancescargo and service quality management systems while continuously elevating quality control standards.As a leading industry enterprise, we participate in drafting national and industry standards and have beenrecognized with honors such as the "National Advanced Unit for Dangerous Goods Logistics Safety Management,"with our management model serving as an industry reference.
Chemical Warehouse BusinessIn 2024, Great River Smarter Logistics implemented a "Strategic Development Implementation Assessment" for itsChemical Warehouse and Integrated Logistics segment, evaluating product quality management across seven dimensions:
key account strategy, diversified high-value-added product storage services, integrated comprehensive logistics services,precise delivery, loading/unloading efficiency, customer service, and end-to-end safety management.To strengthen quantity and quality management, the Chemical Warehouse and Integrated Logistics segment establishedseveral foundational guidance documents: "Guidelines for Standardized Operational Process System Development for KeyChemical Warehouse Operations", "Guidelines for Safety Production Training and Assessment System Development","Guidelines for Safety Production Training Curriculum System Development", "Chemical Warehouse Safety ProductionInspection Management System"These frameworks govern product quality management across the seven key dimensionsmentioned above, aiming to instill the concept of "customer-centricity with HSE as foundation" across all personnel whilecontinuously strengthening the high-quality safety system throughout the Chemical Warehouse and Integrated Logisticssegment.All subsidiaries within the Chemical Warehouse segment have established ISO systems and obtained SGS ISO9001:2015certification. Four chemical warehouse companies—Changshu Hongzhi Terminal, Cangzhou GR DG WH, Zhongshan GRTerminal, and Dongguan Evergrowing Terminal—have received Quality Management System certification, as evidenced bythe certificates below:
In 2024, the company recorded zero major safety or quality incidentsrelated to its products and services.
Customer Service
Customer Service System
Standardized Process
After contract finalization, sales representatives transfer service specifications to customer servicepersonnel. When necessary, they collaborate with Operations to develop internal Standard OperatingProcedures (SOPs).Pre-service Communication
In-process Communication
Clients submit warehouse orders to customer service representatives who enter this information intothe system, converting it into internal execution orders that trigger operational instructions.Throughout this process, customer service representatives maintain continuous communication withclients, promptly addressing questions and concerns.
General Service Process for Terminal StorageTanks and Chemical Warehouses:
Dynamic Quantity and Quality Control System for Terminal InventoryThe company has established a comprehensive dynamic quantity and quality control system forterminal inventory that evaluates achievement rates of quantity and quality management indicatorsacross all terminals, tracks anomaly occurrence rates, and monitors corrective action implementation,which continuously optimizes management effectiveness. The system performs horizontal comparativeanalysis of management indicators between terminals, vertical historical trend analysis, andbenchmarking against industry standards. The company facilitates sharing of best practices acrossterminals, creating reusable management toolkits. For lower-performing terminals, specificimprovement action plans are developed, fostering a positive quality management culture and drivingcontinuous advancement toward lean and intelligent quality management approaches.
Customer service staff maintain ongoing communication with clients, providing detailed informationabout warehouse entry/exit procedures and highlighting important considerations.
Collaborative ServiceUpon arrival, cargo receivers/deliverers exchange delivery authorizations for internal execution ordersat the customer service billing office before entering the terminal for loading/unloading operations.During this process, employees from customer service, billing, operations, HSE, and other positionscollaborate to serve the cargo receivers/deliverers. When issues or inquiries arise during cargohandling and storage operations, designated customer service personnel assume responsibility forresolution and communication. They initiate timely customer discussions when necessary to preventincident escalation and preserve customer satisfaction. Operations, HSE, and other relevantdepartments maintain accountability for their specific service quality domains while maintaining opencommunication channels with customer service representatives, promptly reporting anomalies tofacilitate collaborative resolution.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
First-contact ResponsibilityGreat River Smarter Logistics implements a "first-contact responsibility system" across all servicepositions. This approach ensures that the first staff member contacted about an issue takes ownershipof its resolution, eliminating responsibility transfers that could delay service and impact customersatisfaction.
All Great River Smarter Logistics subsidiaries have implemented
"Customer Service Communication Groups" designed for swiftcomplaint resolution. Customer service specialists track bothcomplaint details and resolution progress. These specialistscompile weekly summaries of customer complaints and resolutionstatuses, which are formally presented during commercial reviewmeetings. For complex complaints requiring extended resolutiontimeframes, the company maintains structured monitoringmechanisms that remain active until final closure. Beyond formalsatisfaction surveys, sales representatives maintain regular clientengagement through telephone communications and on-site visits,gathering real-time feedback on satisfaction levels andimprovement suggestions. This multi-channel approach ensurescomprehensive understanding of customer needs and facilitatescontinuous service enhancement.Policy Documents
Customer Satisfaction Survey Shows SteadyImprovement
increase compared to 2023score of 96.76
0.40%
Terminal & Tank Storage SectorOverall Rating
97.15
Chemical WarehouseSector Overall Rating
98.13
increase compared to2023 score of 97.52
0.63%
Tank Storage CustomerQuestionnaires
Chemical WarehouseCustomer Questionnaires65份Smart CustomerService (CA) SystemResponses162份Loading/UnloadingDriver Questionnaires359份
Customer Feedback Systems
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
"Market Development and Customer Service Management Procedures”
"Customer Relationship Management Regulations” "Customer Satisfaction Survey and Evaluation Management System”
"Customer Service First-Contact Responsibility System”
"Customer Complaint Handling System” "Front-line Position Service Management Regulations” "Chemical Warehouse Key Account Management Regulations"
To gain deeper insights into customer satisfaction and requirements, and to identify key serviceaspects, the company conducted an online questionnaire survey divided into four service modules (tankstorage customers, chemical warehouse customers, Intelligent Customer Service (CA) system, andloading/unloading truck drivers). The survey collected a total of valid questionnaires.
Among
Terminal Storage Tank Segment Satisfaction Survey Results
99.65
99.29
99.40 99.87 99.64 99.64 99.88
99.18
98.19 98.70 99.45 99.57 99.57
99.42
98.99
98.46 98.81 98.80 100.00
99.29
98.93
97.25
97.30
97.44
97.36 97.75
97.17
96.81
97.20
97.10 95.94 97.61 97.61 97.39 97.39
97.19
96.67 95.42 96.50 98.75 98.75
97.29
97.14
96.36 95.86 97.73 98.79 96.97
97.42
96.77
95.44 96.56
97.29
98.67 96.33 96.89
94.27
94.07 91.85 94.66 95.56 95.56 93.89
93.75
93.33 93.33 92.08 93.33 96.67 93.33
97.15
96.59 96.31
97.14 97.97 97.74
97.16
Chemical Warehouse Segment Satisfaction Survey Results
98.79 98.00 98.67 98.67 99.00 99.33 99.00 99.67 98.00
99.84 100.00 100.00 99.58 100.00 99.58 99.58 100.00 100.00
96.39
94.44
97.78 98.89 98.89
94.44 94.44
97.78
94.44
97.50 95.00 95.00 100.00 100.00 100.00 95.00 100.00 95.00
98.13 96.86 97.86 99.28 99.47 98.34 97.01 99.36 96.86
Understanding Customer Needs to OptimizeProduct QualityGreat River Smarter Logistics employs a multi-channel approach to comprehensively understand chemicalwarehouse logistics customer requirements, gathering insights through structured customer visits, industryconference participation, formal satisfaction surveys, digital communications, and regular client interactions.The company has strategically intensified its customer engagement frequency, implementing weeklymonitoring of all client interactions and ensuring prompt resolution of identified needs.For strategic accounts and high-priority projects, the organization has implemented a specialized "IronTriangle" team structure that integrates expertise from Commercial, Operations, and Logistics Transportationdepartments. This cross-functional approach delivers tailored service solutions that address complex clientrequirements while maintaining service excellence.
Customer Privacy Protection System Developmentand ImplementationBeyond implementing strict employee confidentiality protocols and including confidentiality clauses incontracts, the company employs technical measures to manage customer information through tiered accesscontrols. Only authorized personnel can access sensitive information such as commercial contract pricing andcustomer details, preventing information leaks. In 2024, no confidentiality breaches occurred.
Terminal
OverallAverageScore
Berthing &Unloading(Weight 0.15)
Storage &Safekeeping (Weight 0.15)
Receipt & Dispatch
Maintenance(Weight 0.2)
Customer
Service (Weight 0.1)
ComplaintHandling (Weight 0.2)
OverallEvaluation(Weight 0.2)
NantongTerminal BaseZhongshan GR
TerminalFujian Gangfeng
EnergyTaicang Power Shell
TerminalChangzhou GR
TerminalNanjing GR
Terminal
ChangshuTerminal Base
Lisha Island
BaseWeifang GR
TerminalNingbo Ningxiang
Terminal
Terminal
OverallAverage
Score
Timelinessof Loading/UnloadingOperations
Accuracy of
Loading/UnloadingOperations
PackagingSafety andAppearanceIntegrity
Clarity andCompletenessof PackagingLabels
Communication
Ability andAttitude of
Service Personnel
Ability toHandleAbnormal
Issues
Daily Reports
andReconciliation
Services
Timeliness andReasonableness
of Complaint
Handling
Summary
ZhongshanGR Terminal
ChangshuTerminal BaseCangzhou GreatRiver Warehousing
& LogisticsLisha Island Base
Summary
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
Responsible Marketing
Great River Smarter Logistics consistently upholds the business philosophy of "customer-centric, creatingvalue for customers," integrating responsible marketing into our corporate development strategy and dailyoperations. We deeply understand that responsible marketing is not only a manifestation of corporate socialresponsibility but also key to achieving sustainable development. In 2024, Great River Smarter Logisticscontinued to strengthen its responsible marketing efforts, adhering to responsible marketing principles andensuring all marketing activities comply with industry regulations and corporate ethical standards. We arecommitted to providing safe, reliable, and sustainable smart logistics solutions that protect customerinterests and maintain company reputation, while actively fulfilling corporate social responsibility andpromoting healthy industry development.
Management Structure
The Commercial Center is responsible for overall marketing planning, the Integrated Management Teamsupervises sales progress, the Risk Control Team reviews marketing content for compliance, and the SalesTeam implements specific marketing plans. The departments form a collaborative mechanism to ensuremarketing information is truthful, accurate, and free from misleading content.
Enhancing Information Transparency
Great River Smarter Logistics consistently adheres to open and transparent marketing strategies, ensuringthe following principles in customer communication and promotional activities:
Marketing materials (such as official website, brochures, exhibition materials) truthfully present terminalstorage tank operational capabilities, service scope, fee standards, and other information.Business capabilities are not exaggerated, risks are not concealed, helping customers make informeddecisions.Proactively disclose company operational conditions and service upgrade information through officialwebsite, social media, regular customer communication meetings, and other channels.
Great River Smarter Logistics promotes terminal storage tank business by participating in industryconferences and organizing customer exchange meetings, ensuring the authenticity of all promotionalinformation.Before exhibitions, the marketing team reviews all promotional content to ensure it aligns with the company'sactual situation.On-site professional staff are responsible for explaining service content, avoiding misleading promotion.Trust in the company is strengthened through case sharing and customer experience demonstrations.
Customer Communication and ServiceTo ensure customers can comprehensively and accurately understand the company's services, Great RiverSmarter Logistics implements the following measures:
Customer Management System: Records customer needs and communication status, ensuring marketinginformation matches customers' actual requirements.Customer Collaborative Service Team Model: Customer service teams comprising sales, customer service,and operations personnel provide comprehensive services and promptly address customer inquiries.Customer Satisfaction Surveys: Regularly collect customer feedback to optimize promotional materials andmarketing strategies.
Conferences and Promotional Activities
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportProduct Responsibility
PartnershipCooperation andIndustry Advancement
Supply Chain ManagementSupply Chain Management SystemSustainable ProcurementConflict MineralsIndustry Cooperation and AdvancementSupply Chain EmpowermentLeading Industry DevelopmentRural Revitalization and Social Contribution
Supply ChainManagement
Supply Chain Management System
The company has established a Supplier Management System that enables comprehensive supplier oversightto increase efficiency, reduce costs, enhance service quality, improve operational flexibility, and fostercollaborative partnerships. These interconnected objectives create an integrated framework that ensuressupply chain efficiency, long-term stability and sustainable development.
The supplier qualification process establishes clear entry requirements covering legal credentials, certificationprocedures, quality management systems, and other essential criteria.
The company has developed a comprehensive Supplier Performance Evaluation Framework that enables cross-departmental assessment of contract fulfillment against established metrics. Suppliers rated "excellent" inannual performance evaluations may receive rewards.Annual performance reviews identify strengths and weaknesses in safety, quality, service and deliverycapabilities. The company collaborates with suppliers on targeted improvement plans addressing identifieddeficiencies. Top performers earn expanded partnership opportunities, while underperforming suppliers faceremoval from the supplier network.
Suppliers engaging in illegal activities, regulatory violations, or failing to meet annual performance standardsare immediately removed from the approved supplier list.
Supply Chain Risk Management
All supplier contracts include anti-corruption provisions and reporting mechanisms, jointly overseen by Legal,Audit and Procurement Teams to maintain business integrity and protect the legitimate interests of bothparties.
Supplier agreements explicitly require all product packaging to meet national and industry environmentalstandards, ensuring sustainable practices throughout the supply chain. The company establishes formalEnvironmental Agreements with all suppliers that clearly define mutual responsibilities for workplace safety,environmental protection, and occupational health. These agreements ensure supplier operations maintainpersonnel safety, equipment integrity, and environmental standards while on company premises, protectingthe interests of both parties.
System Requirements for Integrityand Transparent Procurement
All supplier contracts include anti-corruption clauses and reporting channels, jointly monitored by Legal, Auditand Procurement Departments to ensure business integrity and protect both parties' interests.
Environmental sustainability principles are integrated throughout the procurement process, with preference given toenergy-efficient, low-carbon, and environmentally friendly equipment and materials when evaluating comparable options.
Based on procurement requirements, the company selects suppliers from its pre-qualified supplier pool using fivemethods: direct purchasing, single-source procurement, price inquiry/negotiation, competitive consultation, orselective tendering. All procurement follows a standardized workflow from requisition through bidding/quotation,contract execution, supplier inventory preparation, delivery acceptance, and payment processing.
Supplier Qualification
Supplier Classification
Supplier Performance Evaluation Management
Supplier Exit Management
Supplier ESG Risk Management
Supplier Contract Signing
Integrity and Transparent Procurement
Green Procurement
Procurement Execution
Supplier Assessment and Evaluation
The company's supplier management system includes performance evaluations across five key dimensions: quality,delivery timing, safety compliance, environmental practices, and cooperation. Each category carries weightedscoring, with results classified into four tiers (A-D). Suppliers maintaining A or B grades retain their approved supplierstatus and continue receiving procurement opportunities. Suppliers receiving C grade face reduced or suspendedprocurement opportunities and must implement corrective actions. The procurement department monitorsimprovement progress, with underperforming suppliers granted a specified remediation period. Those failing todemonstrate adequate improvement within this timeframe are removed from the approved supplier list. thosepassing re-evaluation remain on the "Qualified Supplier" shortlist. D-grade suppliers are removed from the list.
Following principles of "comparable capability, geographical proximity, and similar performance track records,"the company establishes a consolidated supplier network for centralized procurement of key equipment andmaterials.Guided by principles of "local accessibility, exceptional overall capability, and healthy competition," thecompany maintains a flexible supplier network for routine, small-quantity materials procurement.
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportPartnership Cooperation and Industry Advancement
Sustainable Procurement
When signing supplier contracts, the company simultaneously establishes a Safety, Environmental Protectionand Occupational Health Agreement that clearly defines each party's responsibilities regarding operationalsafety, environmental stewardship, and workplace health. This agreement ensures proper work protocols,safe working conditions, environmental compliance, and elimination of negative practices to occupationalhealth.The company operates under comprehensive "Procurement Management" and "Supplier Management"systems that govern all purchasing activities and manage suppliers.The company has implemented a digital procurement platform for online quotations.
Conflict MineralsThe company's production processes do not involve the use of mineral resources.
Industry Cooperationand Advancement
Supply Chain EmpowermentGuided by its industry expertise and corporate vision, the company maintains unwavering commitment to its"safety first, quality paramount" principles. In furthering collaborative industry relationships, the companyhosted its 2024 Annual Supplier Conference with the theme "Building Win-Win Partnerships: A New Chapterin Strategic Collaboration."
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportPartnership Cooperation and Industry Advancement
Leading Industry DevelopmentThe company embraces a philosophy of "Collaborative Creation and Mutual Growth" through activeparticipation in industry forums, summits, and professional events. We foster industry partnerships andknowledge exchange while contributing to the development of industry standards, ultimately drivingcollective advancement across the sector.
2024 7th Forum on Safety and Environmental Protection in Chemical LogisticsFrom May 29-31, 2024, Hongchuan Wisdom attended the "7th Forum on Safety and Environmental Protectionin Chemical Logistics" in Xi'an, where we received recognition as a "2023-2024 Top Chemical LogisticsWarehousing Service Provider." During the specialized session "Industry Leaders Mapping the Future," SeniorVice President Li Xiaoli presented insights on China's liquid chemical storage sector, outlining our company'sjourney, management philosophy, acquisition strategy challenges, and strategic vision. This awardacknowledges our commitment to operational safety and environmental stewardship. Great River SmarterLogistics remains dedicated to our core values, advancing innovation in safety and environmental practices,and supporting the industry's sustainable growth.
2024 11th National Chemical Logistics Industry Annual ConferenceFrom November 27-29, 2024, the 2024 11th National Chemical Logistics Industry Annual Conference andGreat River Smarter Logistics Chemical Warehouse Business Exchange was grandly held in Changshu. Theevent was hosted by the China Federation of Logistics and Purchasing, organized by the DangerousChemicals Logistics Branch, and co-organized by Guangdong Great River Smarter Logistics.The conference, themed "Back to Basics ? Embracing Change ? Diverse Coexistence," attracted hundredsof companies from the chemical logistics industry and numerous experts and entrepreneurs. During theopening ceremony, Lin Haichuan, Chairman of Great River Smarter Logistics, emphasized that companiesneed strong capabilities, excellent operational skills, and an open collaborative spirit to stand out in thecompetitive market. Great River Smarter Logistics aims to explore new cooperation models and businessformats with supply chain partners to promote high-quality industry development.
On June 20, 2024, the GR Charity Gala was successfully held. 2024marked the sixth year since the establishment of the "HaoshanCharity Fund" and "GR Charity Day." With the theme "Building LoveThrough Goodness, Walking the Path of Charity Together," LinHaichuan shared a heartwarming story about his father donating hisliving expenses to a fellow production team member to help pay forthe teammate's mother's medical treatment during his father's rurallabor assignment. Lin explained how he experienced "goodness"from an early age through his parents' words and deeds, thankingthem for nurturing his spirit of "goodness" and strengthening hisdetermination to engage in philanthropy. He advocated for morepeople to pay attention to and participate in charitable causes.
Rural Revitalization andSocial Contribution
Great River Smarter Logistics actively fulfills its corporate social responsibilities and supports charitablecauses across multiple areas including rural revitalization, poverty alleviation, educational sponsorship,environmental protection, and social assistance. Through the "Haoshan Charity Fund" and "GR Charity Day,"organized by the Party branch, labor union, Youth League branch, and GR Spark Volunteer Service Team, thecompany continued to carry out charitable work and volunteer activities throughout 2024.
Charity Gala
2024 GR Charity Gala
In 2024, Great River Smarter Logistics's total charitable expenditure reached
2.39 million yuan
Great River Smarter Logistics Journey of Goodness
The company organized charitable activities involving volunteerswith total participations and accumulated volunteer service hours.
2512242314,164.69
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportPartnership Cooperation and Industry Advancement
Dedication, friendship, mutual assistance, and progress represent the contemporary essence of volunteerservice spirit. On "GR Charity Day," GR employees spread kindness as each subsidiary organized volunteers tocarry out various charitable activities. This allows the seed of charity in every GR employee's heart to takeroot, sprout, and bear the fruits of love.
Charity Activities
Educational Sponsorship
Educational sponsorship activities embody compassion, warm hearts, andunite communities—representing good deeds that promote traditionalvirtues and contribute to building a harmonious society. Great River SmarterLogistics focuses on its employees with a people-oriented approach, whilecontinuously supporting campus development, caring for student growth,and fulfilling social responsibilities.
Great River Smarter Logisticsreceived the AdvancedCollective Award for EducationalInvestment from Jingfeng Town
Great River Smarter Logistics supported the "LED Electronic Screen" project at BujuTownship Primary School in Bayi District, Linzhi CityDonated to the Chuangzhi Binjiang Charity Foundation to promote educational services and social welfare undertakingsDonated books to Tongren No. 26 Primary School in Guizhou Province
Blood Donation Campaign: Walking with LoveFire Safety: Community Outreach
Environmental Protection: Green CleaningDragon Boat Festival: Caring for the Elderly
Poverty Alleviation
Taicang Power Shell Petrochemical "9·9"
Charity Day Donation
GR Fourth (Taicang Power Shell Petrochemical ) Party Branch conducted Learn from Lei Feng volunteerservice activities and "Protect Mother River, Taicang Power Shell Petrochemical in Action" environmentalvolunteer activities.GR Ninth (Changzhou GR Terminal) Party Branch organized voluntary tree planting charity activities.GR Tenth (Changshu GR Terminal) Party Branch delivered blessings and comfort items to disadvantagedcommunity members.GR Twelfth (Fujian Gangfeng Energy) Party Branch conducted "Learn from Lei Feng · Add New Green" themedParty Day volunteer service activities.
Haoshan Fund provided assistance to employees in need,including Qiu *Hua and others"Charity Promotion Month and One-Day Donation" campaign
Environmental ProtectionFujian Gangfeng Energy conducted an environmental protection volunteer service activity themed "GR Charity Day, We Are in Action"Cangzhou Great River Warehousing & Logistics organized employee volunteers to carry out the"GR Charity Day, Cangzhou GR Terminal in Action" environmental protection activity.
Party Branch Strength
Support for Militaryand Public Service
? Economic and Technological Development Zone?Zhongshan GR Terminal expressed appreciation to Zhongshan City Minzhong Street Fire Rescue Squadron, Torch Development Zone Fire Rescue Brigade, and West District Special Fire Service Squadron, providing heat relief supplies?Zhongshan GR Terminal provided cooling supplies to sanitation workers at Zhongshan City Minzhong Street Environmental Sanitation Department?Nanjing GR Terminal visited Nanjing Jiangbei New District Chemical Industrial Park Fire Rescue Brigade?Taicang Power Shell Petrochemical expressed appreciation to Taicang Port Border Inspection Third Squadron, Chemical Industrial Park Fire Rescue Station, and Taicang Port Fire Rescue Station
Changshu Terminal Base visited the Fire Brigade of the Chemical Industrial Park in Changshu
Guangdong Great River Smarter Logistics Co., Ltd. | 2024 Annual Sustainability ReportPartnership Cooperation and Industry Advancement
Governance
Environment
Environmental Protection Total InvestmentEnvironmental Protection Investment as % of RevenueEnvironmental Emergency DrillsSubsidiaries with ISO14001 CertificationSubsidiaries with Clean Production CertificationSubsidiaries with Green Port Certification (3-star)Environmental education activitiesEnvironmental Public Welfare Activities
Appendix |Annual Performance
Board GovernanceBoard MembersNon-executive Board DirectorsIndependent DirectorsIndependent Director AllowanceProportion of Independent DirectorsProportion of Female Board Directors
7 People5 People3 People120,000 yuan/year
42.86%
0%
Investor RelationsInvestor Questions Answered on Exchange PlatformAnnouncements Released
12 Times240 Copies
Operation of Three KeyGovernance BodiesBoard Meetings Held"Board Proposals Reviewed
Review Corporate Social Responsibility Related ProposalsBoard Director Attendance RateBoard of Supervisors Meetings HeldBoard of Supervisors Proposal ReviewedBoard of Supervisors Attendance RateGeneral Meetings of Shareholders (Regular and Extraordinary)Number of Shareholders (as of 12/31/2024)General Meetings of Shareholders (Regular and Extraordinary) Participants
Proposals Approved at the General Meeting of ShareholdersProportion of Independent Directors in Audit CommitteeProportion of Independent Directors in the Nomination CommitteeProportion of Independent Directors in the Remunerationand Evaluation Committee
Anti-monopoly Training SessionsAnti-corruption Training ParticipantsAverage Duration of Anti-Corruption TrainingEmployee Anti-Corruption Commitment Letter Signing RateSupplier Integrity Commitment Signing Coverage RateAnti-Corruption Incident ReportsEmployees Disciplined for ViolationsEmployees Referred to Judicial Authorities
14 Times 74 Times1Times/year100%12 Times42 Times
100%6 Times17,113Households254 Times25Items
66.67%
66.67%
66.67%
Compliance ManagementRegulatory penaltiesMajor Litigations
0 Times0 Times
Business Ethics
23 sessions146 People3hours100% 100%
Environmental Management
65.69 million yuan
4.53%
53 sessions 14 Sites (Base/Terminal)
4 Times3Times26 Times
9 Times
Greenhouse GasesScope 1 GHG EmissionsScope 2 GHG EmissionsTotal GHG Emissions
2,779.50
Tons of Carbon Dioxide Equivalent (tCO2e)
21,901.07Tons of Carbon Dioxide Equivalent (tCO2e)
24,680.57Tons of Carbon Dioxide Equivalent (tCO2e)
Water Resource ManagementTotal water withdrawalRecycled water volume
478,900 tons 21,751.00 tons
Chemical Oxygen Demand (COD)Volatile Organic Compounds (VOC)Industrial Wastewater Discharge
Comprehensive Emission Control Compliance RateTotal Amount of Non-Hazardous Waste GeneratedSolid Waste Compliant Disposal RateTotal Generation of Hazardous WasteAmount of Hazardous Waste DisposedProper Disposal Rate of Hazardous WasteSoil Testing Frequency
Emissions and Waste
2.86 tons
263.66 tons
97,515.60 tons
100%
12.90 tons
100%
410.60 tons
410.60 tons
100%4 Times
Society
Employee Basic Information
1,721 People1,403 People
318 People276 People
1,106 People
339 People
1,263 People419 People36 People3 People156 People121 People35 People39 People29 People
1,185 People
507 People0 People0 People
1,721 People
Inclusion and DiversityDirectors, Supervisors, Senior ManagementFemale Directors, Supervisors, Senior ManagementBoard of DirectorsBoard of SupervisorsFemale Board of DirectorsFemale Board of SupervisorsMiddle ManagementFemale Middle ManagementLocal Senior Management Percentage
13 People3 People7 People3 People0 People2 People 133 People45 People38%
Employment and Turnover
New HiresMaleFemaleNew Hires Under Age of 30New Hires Aged 30-50New Hires Aged Over 50Total Employee Turnover RateFemale Employee Turnover RateMale Employee Turnover RateTurnover Rate for Employees Aged Under 30Turnover Rate for Employees Aged 30-50Turnover Rate for Employees Aged Above 50North China Turnover RateEast China Turnover RateSouthern China Turnover Rate
86 People72 People14 People30 People44 People12 People 1.18%
0.40%
1.11%
0.55%
0.72%
0.23%
3.84%
1.17%
0.60%
Remuneration and BenefitsLabor Contract Signing RateSocial Security Coverage RateEmployees Taking Maternity/Paternity Leave Male FemaleEmployees Returning After Maternity/Paternity Leave Male FemaleHardship Mutual Aid Fund UsageHardship Mutual Aid Fund AmountFull-time Employees Below Local Living Wage
100%100%38 People23 People15 People35 People23 People12 People
9 Times176,500yuan
0%
Training and Development
Annual Training ExpenditureEmployee Training CoverageTotal Training Duration (Total Hours of Offline Training)Average Training Hours per Employee Female Employee Training Hours (Offline) Male Employee Training Hours (Offline)Employees Receiving Regular Performance Reviews
3.06 million yuan
100%61,747.51 Hours7,113.07 Hours54,634.44 Hours
1,721 People
35.88 Hours
Work Injury Insurance and Safety Liability Insurance Coverage
Third-party Safety Assessment Pass RateFull-time HSE Management PersonnelRegistered Safety EngineerMajor Safety Accidents and Environmental Pollution Incidents
HSE Governance Structure
100%
100%55 People42 People
Safety Education Training
404Times20,996 People
46,671Hours
>20Hours100%
Safety Education SessionsSafety Training ParticipantsSafety Training HoursAverage Safety Education Training per EmployeeSafety Education Training Coverage Rate
Safety Emergency Drill
Safety Emergency DrillsFire Drill ParticipantsHidden Danger InspectionHidden Dangers Identified
203Times2,848Person-times
652Times3,593Items
Occupational Health Management
Incidence Rate of Occupational DiseasesEmployee Physical Examination Coverage Rate
0%100%
Safety Production Performance
0 Times0 People
0%0%
Data Security
0 Cases0million yuanData Security IncidentsAmount Involved in Data Security Incidents
Customer Privacy Protection
0 Cases0million yuanCustomer Privacy Breach IncidentsAmount Involved in Privacy Breach Incidents
Total Number of EmployeesMale EmployeesFemale employeesEmployees under 30Employees aged 30 to 50Employees over 50 years oldEmployees with College Diploma or BelowEmployees with Bachelor's DegreeEmployees with Master's DegreeEmployees with Doctoral DegreeTemporary EmployeesMale Temporary EmployeesFemale Temporary EmployeesEthnic Minority EmployeesNorth China EmployeesEast China EmployeesSouth China EmployeesChild labor foundForced labor foundEmployees Covered By Collective Bargaining
(by The End of This Reporting Period)
Personal AccidentsWork-related DeathsWork Injury RateWork-related Mortality Rate
Product Responsibility
Customer Satisfaction (Dock and Storage Tank)Customer Satisfaction (Chemical Warehouse Segment)ComplaintsMajor ComplaintsComplaint Resolution Rate
97.15 Points
98.13 Points
141 Cases0 Cases100%
R&D Investment
R&D InvestmentR&D Investment as a Percentage of RevenueR&D EmployeesProportion of R&D Employees
51.61 million yuan
3.56%
259 People
15.05%
Intellectual Property ProtectionAuthorized Patent ProjectsEnvironmental Protection PatentsInvention Patent ApplicationsGranted Invention PatentsSoftware Copyrights
208 Items 60 Items55 Items24 Items41 Items
Supply Chain Management
Total SuppliersSuppliers within Guangdong ProvinceDomestic Suppliers (Excluding Provincial)Overseas Suppliers (including Hong Kong, Macau, and China Taiwan)Provincial Procurement Percentage (Guangdong Province)
Suppliers Terminated For Non-compliancePotential Suppliers Rejected For Non-compliance
203 Companies
32 Companies171 Companies 0 Companies
16%2 Companies0 Companies
Supplier ESG ManagementSuppliers Signing Integrity ClausesSuppliers With ISO14001 CertificationSuppliers With ISO45001 CertificationSuppliers With ISO9001 Certification
203 Companies132 Companies 125 Companies158 Companies
Supplier Training
Number of Supply Chain Sustainability/ESG Training SessionsSuppliers Participating in Sustainability/ESG TrainingSupply Chain Internal Capacity Building Training SessionsSuppliers in Internal Capacity Building TrainingSupplier Employee Safety Training Coverage
137 Times44 Companies 19 Times33 Companies
100%
Equal Treatment of SMEsAccounts Payable Balance at The End of The Reporting Period(including Notes Payable)Proportion of Accounts Payable (including Notes Payable) Balanceat The End of The Reporting Period to Total Assets
134.04 million yuan
1.43%
(As of the end of the reporting period)
Social CharityEmployee Participation in Charity/Volunteer Activities
Total Charitable DonationsTotal Charitable Activity HoursEmployee Volunteer Team MembersPoverty Alleviation/Rural RevitalizationLocal Township Employees"Gratitude 100%"" Participants
423person-times
2.39 million yuan
14,164.69 Times
122 People422 People 1,195 People
220 People
GRI StandardsDisclosure Item
Chapter
Company ProfileReport Information StatementReport Information StatementQuantitative Performance IndicatorsNot applicableCompany ProfileEmployee Recruitment and DevelopmentWorkers who are not employeesCorporate Governance and Sound OperationsCorporate Governance and Sound OperationsCorporate Governance and Sound OperationsCorporate Governance and Sound ManagementCorporate Governance and Sound ManagementSustainable Development (ESG) ManagementCorporate Governance and Sound ManagementCorporate Governance and Sound OperationsAbout This ReportCorporate Governance and Sound OperationsCorporate Governance and Sound Operations
GRI 2-1GRI 2-2GRI 2-3GRI 2-4GRI 2-5GRI 2-6GRI 2-7GRI 2-8GRI2-9GRI 2-10GRI 2-11GRI 2-12GRI 2-13GRI 2-14GRI 2-15GRI 2-16GRI 2-17GRI 2-18GRI 2-19
1.Organization
and ReportingPractices
GRI 2: General Disclosures 2021
2.WorkersActivities and
3.Governance
Appendix | GRI Index
Organizational detailsEntities included in the organization's sustainability reportingReporting period, frequency and contact pointRestatements of informationExternal assuranceActivities, value chain and other business relationshipsEmployeesWorkers Outside of EmployeesGovernance structure and compositionNomination and selection of the highest governance bodyChair of the highest governance body
Role of the highest governance body in overseeing the management of impacts
Delegation of responsibility for managing impactsRole of the highest governance body in sustainability reportingConflicts of interestCommunication of critical concernsCollective knowledge of the highest governance bodyEvaluation of the performance of the highest governance bodyRemuneration policies
InstructionsGuangdong Great River Smarter Logistics Co., Ltd.reported the information referenced in this GRIContent Index according to the GRI standards fromJanuary1, 2024 to December 31,2024
GRI 1 UsedGRI 1Foundation 2021
4. Strategy,
Policies,and Practices
5. Stakeholder
EngagementGRI 3 Material
Topics 2021
GRI 201 Economic
Performance2016GRI 203 IndirecEconomic
Impacts 2016GRI 204 ProcurementPractices 2016
GRI 205Anti-Corruption
2016GRI 206 Anti-competitive
Behavior 2016GRI 207 Tax 2016
GRI 2-20GRI 2-21GRI 2-22GRI 2-23GRI 2-24GRI 2-25GRI 2-26GRI 2-27GRI 2-28GRI 2-29GRI 2-30GRI 3-1GRI 3-2GRI 3-3GRI 201-1GRI 201-2GRI 201-3GRI 201-4GRI 203-1GRI 203-2GRI 204-1GRI 205-1GRI 205-2GRI 205-3GRI 206-1GRI 207-1GRI 207-2GRI 207-3
Corporate Governance and Sound OperationsCorporate Governance and Sound OperationsSustainable Development (ESG) ManagementNot applicableNot applicableStakeholder CommunicationStakeholder CommunicationRisk Control and ComplianceProduct ResponsibilityStakeholder CommunicationEmployee Recruitment and DevelopmentTopic Materiality Analysis ProcessStakeholder CommunicationConclusion on the Importance of Material TopicsQuantitative Performance IndicatorsClimate Change ResponseEmployee Recruitment and DevelopmentAbout This ReportRural Revitalization and Social ContributionRural Revitalization and Social ContributionSupply Chain ManagementQuantitative Performance IndicatorsQuantitative Performance IndicatorsBusiness EthicsBusiness EthicsRisk Control and ComplianceRisk Control and ComplianceRisk Control and Compliance
GRI 207-4GRI 301-1GRI 301-2GRI 301-3GRI 302-1GRI 302-2GRI 302-3GRI 302-4GRI 302-5GRI 303-1GRI 303-2GRI 303-3GRI 303-4GRI 303-5GRI 304-1GRI 304-2GRI 304-3GRI 304-4GRI 305-1GRI 305-2GRI 305-3GRI 305-4GRI 305-5GRI 305-6GRI 305-7GRI 306-1
Not applicableQuantitative Performance IndicatorsResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingUndisclosedUndisclosedResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingEnvironmental ManagementEnvironmental ManagementNot applicableNot applicableClimate Change ResponseClimate Change ResponseUndisclosedUndisclosedUndisclosedUndisclosedClimate Change ResponsePollution Emission"
GRI 301Materials 2016
GRI 302 Energy 2016
GRI 303Water andEffluents 2018
GRI 304Biodiversity
2016
GRI 305Emissions 2016
Process to determine remunerationAnnual total compensation ratioStatement on sustainable development strategyPolicy commitmentsEmbedding policy commitmentsProcesses to remediate negative impactsMechanisms for seeking advice and raising concernsCompliance with laws and regulationsMembership associationsApproach to stakeholder engagementCollective bargaining agreementsProcess to determine material topicsList of material topicsManagement of material topicsDirect economic value generated and distributed
Financial implications and other risks and opportunities due to climate changeDefined benefit plan obligations and other retirement plansFinancial assistance received from governmentInfrastructure investments and services supportedSignificant indirect economic impactsProportion of spending on local suppliersOperations assessed for risks related to corruptionCommunication and training about anti-corruption policies and proceduresConfirmed incidents of corruption and actions takenLegal actions for anti-competitive behavior, anti-trust, and monopoly practicesApproach to taxTax governance, control, and risk managementStakeholder engagement and management of concerns related to tax
Country-by-country reportingMaterials used by weight or volumeRecycled input materials usedReclaimed products and their packaging materialsEnergy consumption within the organizationEnergy consumption outside of the organizationEnergy intensityReduction of energy consumptionReductions in energy requirements of products and servicesInteractions with water as a shared resourceManagement of water discharge-related impactsWater withdrawalWater dischargeWater consumptionOperational sites owned, leased, managed in, oradjacent to, protected areas and areas of highbiodiversity value outside protected areasSignificant impacts of activities, products, andservices on biodiversityHabitats protected or restoredIUCN Red List species and national conservationlist species with habitats in areas affected byoperationsDirect (Scope 1) GHG emissionsEnergy indirect (Scope 2) GHG emissionsOther indirect (Scope 3) GHG emissionsGHG emissions intensityReduction of GHG emissionsEmissions of ozone-depleting substances (ODS)Nitrogen oxides (NOx), sulfur oxides (SOx),and other significant air emissionsWaste generation and significant waste-related impacts"
GRI 306-2GRI 306-3GRI 306-4GRI 306-5GRI 306-3 (Old)GRI 308-1GRI 308-2GRI 401-1GRI 401-2GRI 401-3GRI 403-1GRI 403-2GRI 403-3GRI 403-4GRI 403-5GRI 403-6GRI 403-7GRI 403-8GRI 403-9GRI 403-10GRI 404-1GRI 404-2GRI 404-3GRI 405-1GRI 405-2GRI 406-1GRI 407-1GRI 408-1
GRI 306Waste 2020
GRI 308 SupplierEnvironmentalAssessment 2016
GRI 401Employment
2016
GRI 403Occupational
Health andSafety 2018
GRI 404Training andEducation 2016
GRI 405 Diversityand Equal OpportunityGRI 406 Anti-discrimination 2016
GRI 407 Freedom of Associationand Collective Bargaining 2016
GRI408 ChildLabor 2016
Pollution EmissionPollution EmissionPollution EmissionPollution EmissionPollution EmissionSupply Chain ManagementSupply Chain ManagementEmployee Recruitment and DevelopmentEmployee Recruitment and DevelopmentEmployee Recruitment and DevelopmentEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Health and SafetyEmployee Recruitment and DevelopmentEmployee Recruitment and DevelopmentEmployee Recruitment and DevelopmentEmployee Recruitment and DevelopmentNot disclosed due to confidentiality requirementsEmployee Recruitment and DevelopmentQuantitative Performance IndicatorsNone
GRI 409 Forced orCompulsoryLabor 2016GRI 413 LocalCommunities 2016
GRI 414 SupplierSocial Assessment2016GRI 416 CustomerHealth and Safety 2016GRI 417 Marketing and Labeling 2016GRI 418 CustomerPrivacy 2016
Operations and suppliers at significant risk forincidents of forced or compulsory laborSecurity personnel trained in human rightspolicies or proceduresIncidents of violations involving rights ofindigenous peoplesOperations with local community engagement,impact assessments, and development programsOperations with significant actual and potentialnegative impacts on local communitiesNew suppliers that were screened using social criteriaNegative social impacts in the supply chainand actions takenAssessment of the health and safety impactsof product and service categoriesIncidents of non-compliance concerning thehealth and safety impacts of products and servicesRequirements for product and serviceinformation and labelingIncidents of non-compliance concerningproduct and service information and labelingIncidents of non-compliance concerning marketingcommunicationsSubstantiated complaints concerning breaches ofcustomer privacy and losses of customer data
NoneNoneNoneRural Revitalization and Social ContributionNot applicableSupply Chain ManagementSupply Chain ManagementProduct QualityProduct QualityCustomer ServiceCustomer ServiceCustomer ServiceCustomer Service
Management of significant waste-related impactsWaste generatedWaste diverted from disposalWaste directed to disposalSignificant spillsNew suppliers that were screenedusing environmental criteriaNegative environmental impacts in the supply chainand actions takenNew employee hires and employee turnoverBenefits provided to full-time employees that are notprovided to temporary or part-time employeesParental leaveOccupational health and safety management systemHazard identification, risk assessment,and incident investigationOccupational health servicesWorker participation, consultation, and communicationon occupational health and safetyWorker training on occupational health and safetyPromotion of worker healthPrevention and mitigation of occupational health andsafety impacts directly linked by business relationshipsWorkers covered by an occupational health andsafety management systemWork-related injuriesWork-related ill healthAverage hours of training per year per employeePrograms for upgrading employee skills andtransition assistance programsPercentage of employees receiving regularperformance and career development reviewsDiversity of governance bodies and employeesRatio of basic salary and remuneration of womento menIncidents of discrimination and corrective actions takenOperations and suppliers in which the right to freedomof association and collective bargaining may be at riskOperations and suppliers at significant risk for incidents of child labor
GRI 409-1GRI 410-1GRI 411-1GRI 413-1GRI 413-2GRI 414-1GRI 414-2GRI 416-1GRI 416-2GRI 417-1GRI 417-2GRI 417-3GRI 418-1
Dimension
TopicCorresponding Chapter
Index of "Shenzhen Stock Exchange ListedCompanies Self-Regulatory SupervisionGuidelines No. 17 - Sustainable DevelopmentReport (Trial)"
Environmental
Social
SustainableDevelopment
Climate Change ResponsePollutant EmissionWaste ManagementEcosystem and BiodiversityConservationEnvironmental ComplianceManagementEnergy UtilizationWater Resource UtilizationCircular EconomyRural RevitalizationSocial ContributionInnovation-Driven DevelopmentTechnology EthicsSupply Chain SecurityEqual Treatment of SMEsProduct and Service Safety and QualityData Security and CustomerPrivacy ProtectionEmployeesDue DiligenceStakeholder CommunicationAnti-Commercial Bribery andAnti-CorruptionAnti-Unfair Competition
Climate Change ResponsePollution EmissionPollution EmissionEcological Environment Protection
Environmental Management Structure、Pollution EmissionResource Consumption and RecyclingResource Consumption and RecyclingResource Consumption and RecyclingRural Revitalization and Social ContributionRural Revitalization and Social ContributionScience and Technology InnovationNot InvolvedSupply Chain ManagementIndustry Cooperation and ProgressProduct Quality、Customer ServiceRisk Control and ComplianceEmployee Recruitment and TurnoverEmployee Benefits and CareEmployee Training and Development、Employee Health and SafetyESG Management FrameworkTopic Materiality Analysis ProcessStakeholder Communication、Conclusion on the Importance of Material TopicsStakeholder Communication、Business EthicsBusiness Ethics、Customer Service
Appendix | Definitions
Please indicate your choice by marking a √ in the appropriate space.
1. Which of the following identities most accurately represents you for Macro Wisdom?
□ government or regulatory agency personnel □ shareholders, investors
□ customers □ employees □ supplier
□ partner (industry partner/media organization/NGO, etc.) □ community residents
2. Are you generally pleased with this year's report?
□ Extremely Satisfied □ Satisfied □ Neither Satisfied nor Dissatisfied
□ Dissatisfied □ Extremely Dissatisfied
3. Has the information that interests you been accurately represented in this report?
□ Fully reflected □ Mostly reflected □ Partially reflected
□ Minimally reflected □ Not reflected
4. What are your thoughts on the layout and presentation of the report?
□Outstanding □ Above Average □ Average □ Below Average □ Unsatisfactory
5. What are your expectations for GR regarding sustainable development efforts?
□ Develop a long-term sustainable development plan
□ External communication is being carried out extensively.
□ Enhance the establishment of institutions for sustainable development management.
□ Incorporate the evaluation of sustainable development performance into management assessments.
□ Other (please specify)
Dear readers,We appreciate your time in reviewing this report. In our effort to enhance our sustainable development workat Guangdong Great River Smarter Logistics Co., Ltd. , we aim to gain a comprehensive understanding of yourexpectations and needs. Through this survey, we strive to continuously elevate the standard of oursustainable development efforts. We cordially invite you to take part in the survey. Your perspectives andinsights are vital to us. We truly value your insightful feedback and suggestions!
Appendix | Feedback Form
You are welcome to share your feedback through the following means:
Email: grsl@grgroup.ccPhone: 0769-88002930Address: 4th Floor, Building 1, Songke Yuan, No. 4 Libin Road, Songshan Lake High-tech Industrial Development Zone, Dongguan City
Definition Entryrefers toDefinition Contentrefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers torefers to
Company, GRDongguan Evergrowing TerminalDongguan Great River Petrochemical TerminalDongguan Great River Petrochemical TerminalLishadao BaseZhongshan HongchuanTaicang Power Shell PetrochemicalJiangsu Changjiang PetrochemicalNantong Power Shell PetrochemicalNantong Hongzhi LogisticsNantong Great Smart, Nantong YilianNantong BaseChangzhou Great RiverChangshu Great RiverChangshu Great SmartChangshu BaseFujian Gangfeng EnergyNanjing Great RiverNingbo NingxiangWeifang Great RiverRizhao Great RiverCangzhou Great RiverChengdu Great Smart WarehousingNingbo ChenlingGeneral Meeting of ShareholdersDirectors or Board of DirectorsSupervisors or Board of SupervisorsHSEYuan, ten thousand yuan
refers to
Guangdong Great River Smarter Logistics Co., Ltd.Dongguan Evergrowing Terminal Co., Ltd. is a wholly-owned subsidiary companyDongguan Great River Petrochemical Terminal Co., Ltd., a wholly-owned subsidiary of the companyDongguan Great River Petrochemical Terminal Co., Ltd., a wholly-owned subsidiary of the companyIncluding Dongguan Evergrowing Terminal,Dongguan Great River Petrochemical Terminal, Dongguan Great River Petrochemical TerminalHongchuan Petrochemical Storage Co., Ltd.,a wholly-owned subsidiary of Dongguan Evergrowing Terminal in Zhongshan CityTaicang Power Shell Petrochemical Co., Ltd., a wholly-owned subsidiary of the companyJiangsu Changjiang Petrochemical Co., Ltd.is a partially-owned company of Nantong Power Shell Petrochemical Co., LtdNantong Power Shell Petroleum Logistics Co., Ltd., a wholly-owned subsidiary of the companyNantong Hongzhi Chemical Logistics Co., Ltd.,a wholly-owned subsidiary of Nantong Power Shell Petrochemical Co., LtdNantong Great Smart Petrochemical Terminal Co., Ltd.( the original name was Yilian Energy (Nantong)Co., Ltd.) is a wholly-owned subsidiary company of Nantong Power Shell Petrochemical Co., LtdIncluding Nantong Power Shell Petrochemical Co., Ltd.,Nantong Great Smart, and Nantong Hongzhi LogisticsChangzhou Great River Petrochemical Terminal Co., Ltd.is a subsidiary holding company of Taicang Power Shell Petrochemical Co., LtdChangshu Great River Petrochemical Terminal Co., Ltd.is a wholly-owned subsidiary company of Taicang Power Shell Petrochemical Co., LtdChangshu Great Smart Petrochemical Terminal Co., Ltd.is a wholly-owned subsidiary company of Taicang Power Shell Petrochemical Co., LtdIncluding Changshu Great River, Changshu Great SmartFujian Gangfeng Energy Co., Ltd. is a holding subsidiary companyNanjing Great River Petrochemical Terminal Co., Ltd. is a subsidiary holding companyNingbo Ningxiang Liquid Chemicals Terminal Co., Ltd. is a subsidiary joint venture companyWeifang Great River Liquid Chemicals Terminal Co., Ltd.Rizhao Great River Warehousing & Logistics Co., Ltd.is a subsidiary holding company of Dongguan Evergrowing Terminal Co., LtdCangzhou Great River Warehousing & Logistics Co., Ltd.,a subsidiary of Nantong Power Shell Petrochemical Co., LtdChengdu Great Smart Warehousing Co., Ltd. is a wholly-owned subsidiary companyNingbo Chenling Liquid Chemical Storage Co., Ltd.General Meeting of Shareholders of Guangdong Great River Smarter Logistics Co., Ltd.Directors or Board of Directors of Guangdong Great River Smarter Logistics Co., Ltd.Supervisors or Board of Supervisors of Guangdong Great River Smarter Logistics Co., LtdThe abbreviation for Health, Safety, and Environment is HSE,which stands for Health, Safety, and EnvironmentChinese Renminbi yuan, ten thousand yuan