2023Environmental, Social, and
Governance (ESG) Report
WillfarInformation Technology Co., Ltd.Website: http://www.willfar.comPhone: +86 731-88619798Address: WasionScience and Technology Park, 468 TongzipoWest Road, YueluDistrict, Changsha City, Hunan Province, China
WillfarInformation Technology Co., Ltd.
April 2024
Stock code: 688100
Report Description
Enterprises Covered by the ReportThis report encompasses WillfarInformation Technology Co., Ltd. and its principal subsidiariesReporting PeriodJanuary 1, 2023 to December 31, 2023Reporting FrequencyThis is an annual reportData SourcesData is drawn from WillfarInformation Technology Co., Ltd. and its subsidiaries, with someinformation sourced from third-party institutionsDate of Issuance of the ReportApril 26, 2024
Nouns and Pronouns used in the ReportIn this report, “WillfarInformation”, “the company”, and “we” all refer to WillfarInformation Technology Co.,Ltd.Report AccessibilityThis report is released in electronic form on the Internet and can be accessed on the website of Shanghai StockExchange (www.sse.com.cn) and the official website of WillfarInformation Technology Co., Ltd.Report BasisThis report is prepared in accordance withGlobal Reporting Initiative (GRI) Standards for Sustainable Development ReportingChina Corporate Social Responsibility Reporting Guidelines (CASS-ESG 5.0)The Shanghai Stock Exchange's Self-Regulatory Guidelines No. 14 for Listed Companies –Sustainable DevelopmentReport (Trial) (Draft for Public Comment)Feedback Mechanism
Should you have any comments or suggestions regarding this report, please reach out to us through the following meansAddress: WasionScience and Technology Park, 468 TongzipoWest Road, Yuelu District, Changsha City, HunanProvince, China Postal Code: 410205Telephone: +86 731-88619798 Fax: +86 731-88619639Company website: http://www.willfar.com E-mail: tzzgx@willfar.com
Governance SectionThe Company's Sustainable Development Strategy
4.1 Discussion & Analysis on the Company's Future
Development
4.2 Party and Mass Organization Building
4.3 Communication with Stakeholders
4.4 Sustainable Development Strategy
4.5 Sustainability Indicators
Corporate Governance & Sustainable Social Value
4.6 Operation of the General Meeting of Shareholders, Board of
Directors and Supervisory Board
4.7Disclosure of Information
4.8 Investor Relations Management
4.9 Business Ethics
4.10 Compliance Training
Enhancing Equality, Efficiency & Returns
4.11 Focusing on Value Creation for Continuous Substantial
Returns to Investors
4.12 Harmonizing Interests: Building a Win-Win Relationship
between Management & Shareholders
Key Performance Tables & Index
Society Section
Innovation-driven and High-quality Growth
3.1 Innovation as a Driver of Development
3.2 New Momentum for High-quality Growth
3.3 Product Quality & Safety
3.4 Sustainable Supply Chain Management
3.5 Customer Service System
3.6 Information & Data Security
3.7 Intellectual Property Protection
Caring for Employee Growth
3.8 Equal and Legal Employment
3.9 Employee Health & Safety
3.10 Employee Welfare & Caring Measures
3.11 Employee Training
3.12 Protection of Employee Rights and Interests
3.13 Employee Motivation
Social Contributions
3.14 Social Contributions & Philanthropy
3.15 Industry Collaboration & Shared Development
Environment SectionEnvironmental Protection
2.1 Climate Change Mitigation
2.2 Resource Consumption & Pollution Control
2.3 Environmental Issues & Management Overview
2.4 Biodiversity Conservation
Green Development
2.5 Green System Establishment
2.6 Eco-friendly Corporate Operations
2.7 Green Office Practices
2.8 Facilitating Low-carbon Development
Overview Section
1.1 Statement from the Board of Directors
1.2 Company Profile
1.3 Key Performance Highlights
1.4 Honors and Qualifications
Table of ContentsCONTENTS
Throughouttheyear,thecompanyhasadheredtocomplianceandefficiency,propellingitshigh-qualitygrowth.Prudentoperationandhigh-qualitydevelopmentconstituteourguidingprinciplesforbusinessexpansion.Wehaveconsistentlyupheldthecorporatetenetof"SinceritytoPerfection,HarmonyofDutyandProfit,"seamlesslyintegratingESGprinciplesintoourcorporatestrategy,majordecision-making,anddailyoperations.The"BoardStrategicCommittee"hasbeenrenamedthe"BoardStrategic&ESGCommittee,"taskedwithresearchingandproposingrecommendationsonthecompany'ssustainabledevelopment,environmental,social,andgovernance(ESG)policies.ThiscommitteealsooverseesthesupervisionandmanagementofESG-relatedmatters.Underthe"BoardStrategic&ESGCommittee,"a"SustainableDevelopmentESGWorkingGroup"hasbeenestablishedtoleadandmanageESGefforts,coordinatingrelevantbusinessdepartmentsandfunctionalunitsacrossthecompanyinexecutingESG-relatedtasks.OurGeneralMeetingofShareholders,BoardofDirectorsandSupervisoryBoardoperateefficientlyandinstrictadherencetodisclosureregulations.WillfarraisednetproceedsofRMB610millionthroughitsIPO,whichwasfullyallocatedtoR&Dinvestmentandproductionexpansion.NearlyRMB300millionwasspentonsharerepurchasesforlong-termincentiveprograms.Ourinvestmentvaluehasgarneredindustryrecognition,earningusthehighestdisclosurerating(Alevel)fromtheShanghaiStockExchange,beingnamedanExcellentBoardPracticeCasebytheChinaAssociationforPublicCompanies,andinclusionintheSSESTARMarket100Index,amongotherhonors.Thisyear,Willfariscommittedtogreenempowerment,servingthenational"DualCarbon"strategy.Thereportofthe20thNationalCongressoftheCommunistPartyofChinapointedouttheneedto"activelyandprudentlyadvancecarbonpeakingandcarbonneutralityactions",basedonChina'senergyresources,andtoimplementthecarbonpeakingactionsinaplannedandstep-by-stepmanner.LeveragingtechnologicalinnovationandR&Dadvantages,WillfarfocusesonthekeydemandsofthenationalenergydevelopmentstrategyandtheStateGrid,masteringcoretechnologiessuchasbigdatamanagement,communicationchipsandedgecomputing,andpromotinglow-carbonandzero-carbondevelopmentintheindustry.Internally,thecompanypushesforgreenoperationsthroughsmartmanufacturingandcreatinglow-carbongreenparks,adoptingplantandequipmentupgradestoeffectivelyreduceenergyconsumptionandenhancetheutilizationofcleanenergy.Externally,Willfarintensifiestechnologicalinnovationsandproductinnovationsinnewelectricpowersystemsandsmartgrids,leadstheformulationofindustrytechnicalstandards,consolidatesitsleadershipintheelectricIoTsector,andactivelyexploresnewopportunitiesinenergystructuretransformationandthedigitaleconomy,providingintelligentsolutionsforcities,enterprises,parks,andmore,servingthenational"DualCarbon"goals.Thisyear,Willfarremainstruetoitsoriginalaspirations,workingtogethertocreateabetterfuture.PresidentXiJinpinghasrepeatedlyemphasizedthatprivateenterprisesshouldactivelyparticipateinphilanthropicandcharitableactivities,rememberingtheirrootsandbalancingrighteousnessandprofit.Drivenbyinnovation,Willfarpromotescomplianceandsustainabledevelopmentinthesupplychain,fostersregionaleconomicdevelopmentthroughlawfultaxation,paysattentiontoemployeerights,anddevelopsjointlywithitsemployees.Thecompanyhasbeenhonoredasanationalmodelforharmoniouslaborrelations,anationalmodelfortrustworthybusinessoperations,andhasbeenawardedtheA-levelcreditratingforlaborprotectionforfourconsecutiveyears.Willfaractivelyfulfillstheresponsibilitiesandcommitmentsofanationalenterprise,formingvolunteerteams,participatinginsocialwelfareactivities,engagingincharitabledonations,andvisitingandcomfortingtheneedy,therebycreatingvalueforsocietyandusingtechnologytoaidruralrevitalization,promotingmutualbenefitsbetweenthecompanyandvarioussocietalsectors.Inthewaveofglobaldigitaleconomicdevelopment,underthestrategicguidanceofDigitalChina,andamidstthesteadyadvancementofthe"DualCarbon"goals,digitalizationandgreenlow-carbontransformationhavebecomeinevitabletrendsintheenergyindustry.Willfarremainscommittedtoitscorebusiness,deeplycultivatestheindustry,andstrategicallyexpandsglobally.Inthedevelopmentofenergydigitalizationandgreenlow-carbontransformation,Willfarplaysanactiveroleasbothanindustrypromoterandanenabler,continuouslycreatingvalueforthenation,investors,andcustomers.Lookingahead,wearepoisedforaction,targetinglong-termgrowth,continuouslyinnovatingandadvancing,makinggreatercontributionstogloballow-carbondevelopment,andtheprosperityofthedigitaleconomy!
Statement of the Board of Directors
2023marksthebeginningoffullyimplementingthespiritoftheParty's20thNationalCongress,apivotalyearinthe"14thFive-YearPlan",andanimportantyearforthecomprehensiveconstructionofamodernsocialistcountry.High-qualitydevelopmenthasbecomeaninevitablechoiceforlistedcompanies.Againstthebackdropofasteadilyrecoveringglobaleconomy,energytransformationhasopenedupnewmarketspaces,andthedigitaleconomyhassparkednewdemandsforurbandigitalconstruction.China's"DualCarbon"strategy,thebuildingofadigitalChina,thedevelopmentofthedigitaleconomy,theadvancementofthe"BeltandRoad"initiative,andtheacceleratedconstructionofnewenergysystemscontinuetoactivatethemomentumofnationaleconomicdevelopment.Facedwithopportunitiesandchallenges,Willfarwillcontinuetoadheretoitsdevelopmentstrategyof"ConnectingtheWorldwithIoT,ConnectingtheFuturewithCoreTechnologies",constantlystriveforward,createandcontributevalue,achievingsustainablecorporategrowth.
01-02
Company Profile
Creating Value for Shareholders
The company creates value for shareholders withsustainable competitive advantages and overallprofitability.Creating Value for UsersThe company creates value for users by providingmore accurate, reliable and intelligent systemsolutions and servicesCreating Value for EmployeesThe company creates value for employees with fair anddecent salaries and benefits and career growth.
Creating Value for SuppliersThe company creates value for suppliers through collaborative cooperation and sharedgrowth.Creating Value for SocietyThe company creates value for society through increasing tax contributions andphilanthropic activities.Creating Value for the IndustryThe company creates for the industry by continuously promoting theconstruction of energy Internet and the digitalization of comprehensive urbangovernance capacity with cutting-edge information technology and strongenergy IoT driving power.
2004-2009
2010-2014
2015-2019
2020-2023
Future Outlook
WillfarInformationTechnologyCo.,Ltd.wasestablishedin2004andisoneoftheearliestenterprisesspecializingintheenergyInternetinChina.OnJanuary21,2020,itwassuccessfullylistedontheScienceandTechnologyInnovationBoardoftheShanghaiStockExchange(StockCode:688100.SH).Withthedevelopmentstrategyof"ConnectingtheWorldwithIoT,ConnectingtheFuturewithCoreTechnologies",thecompanyprovidescomprehensiveenergyInternetsolutionsfromdataperception,communicationnetworkingtodatamanagement,constructingadigitalenergysystemthatisperceptible,observable,measurable,andcontrollableforcustomers,supportingefficientenergymanagementinvariousscenariossuchascities,parks,enterprises,buildings,waterservices,andfireprotection.Itiscommittedtoachievingthenational"DualCarbon"goals,servingtheconstructionofdigitalpowergridsanddigitalsmartcities,andjointlybuildingnewpowersystemsanddigitaltwincities.
The company will continue to benefit every city, community, business, andfamily with its products, technology, and services.
The company continued to lead in domestic market share whileexpanding into the international market, deepening and promotingurban IoT solutions.
The company became a leading provider of energy IoT solutions, focusing onthree major markets.Enterprise Development Strategy: Connecting the World with IoT, Connectingthe Future with Core TechnologiesEnterprise Mission: Sincerity to Precision, Benefit to Coexistence
The company was established and took the lead in breakingthrough domestic substitution, establishing a foothold in theIoT industry.
The company cemented its leadership position in the powerIoT industry through steady technological innovation
Development Milestones
03-04
25%Percentage of Female
Employees
15.65%
Compound Annual Growth Rate of Revenue Since
Listing
2.23 billion yuan
Operating Revenue
31.3%
Net Profit Growth Rate
Valid Patents Obtained Cumulatively
18.9%
Return on Net Assets
50.4%
Percentage of R&D
Personnel
2023
Key Performance Highlights
227 million yuan
R&D Investment
40%
Cash DividendPayout Ratio
05-06
197 million yuan
Total Annual TaxPayments
42.9%
Percentage of Female Directors,Supervisors, and Senior Executives
24.68%
Compound Annual Growth Rate of Net Profit Since
Listing
Honors and Qualifications
◆Inclusion in the SSE STAR Market ESG Index◆Inclusion in the SSE Select STAR Market Growth Momentum 50 Strategy Index◆Inclusion in the SSE STAR Market 100 Index◆Inclusion in SSE Buyback 50 Index◆Capability Maturity Model Integration (CMMI) Highest Level ML5 Certification◆National-Level Green Factory◆National Green Supply Chain Management Enterprise◆2023 Power Science and Technology Innovation Award (First Prize) -Measurement and Control System and ControlModules for Distribution Automation Terminals
◆China Instrument and Control Society Science and Technology Progress Award (Second Prize) -High-Precision DC EnergyMetering Standard Device and Traceability Techniques, and Industrial Application
◆Machinery Industry Science and Technology Award (Second Prize for Technological Progress) -Full Automation Power IoTTerminal Key Technologies and Large-Scale Applications◆State Grid Corporation Science and Technology Progress Award (First Prize) -Next-Generation Power InformationCollection System Key Technologies and Applications◆Excellent Cases for Carbon Peaking and Carbon Neutrality◆2023 Hunan Province Key Research and Development Plan Project (Intended) -Dual-Mode Communication Chip for
Electric Power Internet of Things
◆"PV Grid-Connected Intelligent Low-Voltage Circuit Breaker Project" -Outstanding Innovation Project Award, HunanInstrumentation Industry◆2023 Digital Hunan Top 10 Application Scenario Construction Plan Key Project -IoT Product Smart Manufacturing
Workshop Project Based on Industrial Internet◆Top 10 Innovative Enterprises in the First Hunan Advanced Manufacturing Technology Innovation Competition
ThecompanyhaswontheFirstPrizeofHunanProvincialScienceandTechnologyProgressAwardfortwoyearsinarow,garneredtheFirstPrizeofScientificandTechnologicalProgressfromtheChinaElectricalEngineeringSociety,receivedtheSecondPrizeofInventionPatentsinHunan,andsecuredtheFirstPrizeforScientificandTechnologicalProgressfromStateGridCorporation.Recognizedforitsstrategicdevelopment,innovativetechnologicalachievements,androbustcomprehensivestrengthderivedfromyearsofdedicationintheInternetofThings(IoT)domain,thecompanyhasbeendesignatedaNationalSpecialized,Focused,Innovative,andNovelEnterpriseandaNationalIntellectualPropertyAdvantageEnterprise.Additionally,withitsoutstandingESGperformanceandacombinationofbothgrowthcharacteristicsandmomentumeffect,ithasbeensuccessfullyincludedintwomajorindices:theSSESTARMarketESGIndexandtheSSESelectSTARMarketGrowthMomentum50StrategyIndex.
National and Group Standards
As of the end of the reporting period, the company and its R&D personnel hadparticipated in the formulation of a total of 65 national, industry, local, and groupstandards, comprising 36 national standards, 11 industry standards, one localstandard, and 17 group standards.
Scientific Research PapersIn 2023, the company focused on cutting-edge domains, conducting multiple research endeavors, and achieved notableoutcomes. During this reporting period, the company published a total of 6 scientific papers.
Channel-Spatial attention convolutionalneuralnet
learningrates for surface damagedetection of windturbineblades
works trained with adaptive"Study on the Reading Method Based on Power Line Carrier for Line Loss Lean Management in
Distribution Transformer Area"
Ground Fault Section Localization Algorithm for Active Distribution Networks Basedon Phase Transient Power DirectionShort-term Load Big Data Forecasting Scheme for the Power Industry Based onHeterogeneous Data
"Application and Practice of Wi-SUN Communication Technology in Advanced MeteringInfrastructure (AMI)"
Study on Synchronized Phasor Measurement Technology for Power Systems UsingEdge Computing
3611117
Annual Honors
Internet of things technologies
High Voltage Engineering
Annual Power Industry InformationizationConference
Digital Communication World
07-08
Measurement
LocalStandardsIndustry StandardsNational StandardsGroupStandards
China Electrical Equipment Industry
2. Environment Section
Environmental Protection
2.1 Climate Change Mitigation
2.2 Resource Consumption & Pollution Control
2.3 Environmental Issues & Management Overview
2.4 Biodiversity Conservation
Green Development
2.5 Green System Establishment
2.6 Eco-friendly Corporate Operations
2.7 Green Office Practices
2.8 Facilitating Low-Carbon Development
Climate Change Risk, Opportunity Identification,
and Financial Impact Analysis
Extreme weather events such as heavy rains, floods, and typhoons:
1.Causedamagetovariousinfrastructurefacilitieswithintheindustrialpark,leadingtodirecteconomiclossesandadditionalmaintenancecosts;reducethefunctionsandservicesprovidedbytheseinfrastructures,therebyloweringtheiranticipatedsocietalandeconomicbenefits;StrengthenBusinessContinuityManagement(BCM):ReferencinginternationalstandardISO22301,continuouslyimprovethecompany'sBCMmechanisms,enhancingresistancetorisks.Identifypotentialthreatstocriticalbusinessoperations,includingeventsandenvironmentalfactorsthatmaydisruptcompanyoperationsandfacilities,negativelyimpactingthem.Evaluateandanalyzepotentiallosses,designingaBusinessContinuityPlan(BCP)toguidebusinessrecovery.Regularlyassessdrillresultsand,ifnecessary,continuallyrefineandupdatetheplan
ThecompanyisnotclassifiedasakeyemissionsentityandhasnotbeenincludedinthegreenhousegasemissionsverificationscopebytheHunanProvincialDepartmentofEcologyandEnvironment.Thecompanyattachesimportancetothepotentialimpactsofclimatechangerisksonitsbusinessoperations,andinordertobettermanageclimate-relatedindicators,ithasconductedorganizationalgreenhousegasverificationforWillfarInformationin2023inaccordancewiththe"GuidelinesforCalculationandReportingofGreenhouseGasEmissionsforOtherIndustrialSectors(Trial)"issuedbytheGeneralOfficeoftheNationalDevelopmentandReformCommission.Concurrently,followingISO14067:2018"Greenhousegases-Carbonfootprintofproducts-Requirementsandguidelinesforquantification"andPAS2050:2011"Specificationfortheassessmentofthelifecyclegreenhousegasemissionsofgoodsandservices,"thecompanycarriedoutgreenhousegasemissionsmeasurementworkatitsproductionandoperationsitesduringthereportingperiod,providingdatasupportfortherealizationofthecompany'scarbonneutralitypathway.Duringthereportingperiod,thecompany'sgreenhousegasemissionswere3,615.16tonsofcarbondioxideequivalents.Inthefuture,thecompanywillcontinuetostrengthenmonitoringanddatamanagement,activelyengaginginthecountry'sdual-carbonmission.GreenhouseGasEmissionIndicators
Foraprolongedperiod,humanactivitiesandnaturalfactorshavejointlyinfluencedtheworld,resultinginongoingclimatechangecharacterizedprominentlybyglobalwarming.Thiswarmingtrendhastriggeredamultitudeofcascadingeffects,renderingclimatecrisesandextremeweathereventsasglobalchallenges.InJune2022,seventeendepartmentsincludingtheMinistryofEcologyandEnvironment,theNationalDevelopmentandReformCommission,andtheMinistryofScienceandTechnologyjointlyissuedthe“NationalClimateAdaptationStrategy2035”,comprehensivelyoutliningandcoordinatingadaptationmeasurestoclimatechangefortheperiodupuntil2035.WillfarInformationactivelyrespondstothe"DualCarbon"strategy,implementingactionstowardsachievingcarbonneutralityandaddressingclimatechange.Thecompanysystematicallyidentifiesandscientificallyassessesclimate-relatedrisks,evaluatingthepotentialimpactsonitsownbusiness,communities,andstakeholders.Itformulatesriskmitigationmeasuresandintegratesclimatechangeriskmanagementintothecompany'soverallriskmanagementprocess.WillfarInformationcontinuouslyenhancesitscapacitytoguardagainstclimate-relatedrisksandembedstheprinciplesofsustainabilitythroughoutallstages,includingproductdesign,R&D,production,andoperations,steadfastlypursuinggreen,high-qualitydevelopment.
Chronicclimateriskssuchaspersistentdroughtandsustainedhightemperatures:
1.Seasonalshortagesinthesupplyanddemandofenergysourceslikeelectricityandnaturalgas,potentiallyleadingto
energysupplydisruptions,whichcanimpactnormalproductionforthecompanyanditsupstreamanddownstreamsupplychains,therebycompromisingtheuninterruptedoperationofcompanybusiness
Continuouslyenhancethelevelofproductionprocessautomation,drivethetransformationofproductionprocessestobecomeincreasinglyautomated,optimizemanufacturingworkflows,andadoptautomatedanddigitalequipmenttominimizetheimpactofhumanandnaturalfactorsonproductionefficiency
2.Prolongedhightemperaturesleadtoincreasedproductioncosts.Theneedtoregulateworkplacetemperaturesresultsin
higherelectricityexpenses;persistentheatmaydecreaseworkerproductivity,raisinglaborcosts;anditaffectsnormalproductioninthecompany'supstreamsupplychain,contributingtoincreasedrawmaterialcosts
Inresponsetohightemperaturesthatmayleadtoreducedefficiencyandheatstroke,developdetailedcontingencyplansandregularlyconductdrills.Strengtheneducationandpublicityeffortsonheatstrokepreventionandfirstaidforworkers,implementingeffectivepreventivemeasuresagainstheatstress.Conductregularhealthchecksforemployeesengagedinhigh-temperaturework,adjustinglaborandrestregimesforsuchtasksasnecessarytomaintainbothworkqualityandsafeproduction,whileensuringthehealthandlifesafetyofemployees.
3.Impactupstreamanddownstreamsupplychainsandproducttransportation,causingproductiondelays
Intermsoflogisticalsupport,formulatecomprehensiveemergencyresponseplansforsevereweatherconditions,suchasthoseforheavyrainstormsandflooding.Equipoperationalsiteswithemergencypowergenerationfacilities.Routinelyorganizeemployeedrillsforrelevantemergencyscenariosandprovidespecializedtrainingonemergencyrescueprocedurestoenhancepreparednessandresponsecapabilities.
Natural gas81,264.47 m
Pollutant Emission Indicators
2023
2023
Environmental indicators
2023
Resource Consumption & Pollution ControlClimate Change Mitigation
Indicators of Resource and Energy Consumption
Countermeas
ures
Countermeas
ures
Countermeasures
Countermeas
ures
Countermeas
ures
Concentration of total suspended particulatematter in discharged wastewater
Financial IndicatorsPetroleum concentrationin discharged waterBOD5 concentration indischarged wastewater
COD concentration in discharged wastewater
Hazardous waste generation (tin slag)
Ammonia nitrogen concentration indischarged wastewater
Total phosphorus concentration in discharged wastewater
11-12
Greenhouse gas emissions
Hazardous waste recycling & utilization rate
Per million yuan of annual revenue
5,503,055.50
Emissions per unit of revenue
176,942.00
22,743.59
2023
Investment in R&DInvestment inenvironmental protection
3,615.16
mg/m
KWH
mg/Lmg/L
mg/Lmg/Lmg/L
Unit
Unit
Unit
Unit
Category
Category
Category
4.005
10.83
10,000 yuan10,000 yuan
tCO
0.14
0.28
21.4
1.62
1.72
t
%
6.3
WaterElectricity
t
2.Disruptnormalproductionandoperations,causingcontractdeliverydelays
AwarenessCultivationandPracticalDrills:Developabusinesscontinuitytrainingcurriculumtofosterawarenessandskilldevelopmentamongemployees.RegularlyorganizepracticaldrillstotesttheoperationalfeasibilityandtimecoordinationoftheBCP,enhancingemergencyresponsecapabilitiesinthefaceofdisasters
Waste and Pollutant Emission Management
Thecompanystrictlyabidesbynationallawsandregulationssuchasthe"EnergyConservationLawofthePeople'sRepublicofChina,"the"EnvironmentalProtectionLawofthePeople'sRepublicofChina,"the"AirPollutionPreventionandControlLawofthePeople'sRepublicofChina,"andthe"SolidWastePollutionPreventionandControlLawofthePeople'sRepublicofChina."
Duringtheproductionprocess,themainwastegasesgeneratedbytheproductsaretinanditscompounds,defectiveanddiscardedelectroniccomponentsproducedduringprocessing,solidwastefromouterpackagingcardboardboxes,noiseproducedbyequipmentinoperation,wastewaterandhouseholdwastegeneratedbyemployeeofficeandlivingactivities.Duringthereportingperiod,thesamplingtestresultsofthecompany'sthreewastesbyathird-partyinspectionagencywereallbelowthestandardlimitrange.Nocasesofviolationsofenvironmentallawsandregulationswerefoundduringthereportingperiod.
Willfarstrictlybidesbynationalandlocallawsandregulationsonbiodiversityprotection,putsthepracticeofbiodiversityprotectionintoallaspectsofitsbusiness,activelyprotectsthenaturalecologyandbiodiversity,andiscommittedtobuildinganecologicalcivilizationinwhichhumanbeingsandnaturecoexistinharmony.In2023,theCompanyhadnoproductionoroperationsiteslocatedinbiodiversity-richareaswithin,nearoroutsideofnaturereserves.NoneoftheCompany'sproductionandoperationalactivities,productsandserviceswasfoundtohaveasignificantimpactonbiodiversity.
Business Continuity Management
Thecompanyisnotcategorizedasahigh-energy-consumingorhigh-emissionenterprise;theprimaryresourcesandenergyconsumedduringitsproductionandoperationsarewater,electricity,andnaturalgas.Thecompanyexercisesresponsiblewateruse,relyingonasufficientsupplyfromthemunicipalwatersystemwithoutanyconcernsoversourcing.Duringthereportingperiod,thecompanystrictlyadheredtoenvironmentallawsandregulations,proactivelypromotingcleanenergyandsmartmanufacturingtoreduceenergyconsumption.Thecompanyeffectivelyutilizesrooftopspaceforphotovoltaicpowergeneration,employsadvancedintelligentmanufacturingtechniquesinitsproductionprocesses,andhasalreadyconvertedworkshoplightingtoLEDtechnology.
Thecompanyplacesgreatemphasisontheestablishmentofgreenmanufacturingandoperationalsystems,havingdevelopedcomprehensivemanagementprocedurestorigorouslycontrolenergyconsumptionduringproductionandoperations,regulatethedisposalofwastegeneratedinthecourseofbusiness,andensurecompliancewithlegalrequirements,thusminimizingthenegativeenvironmentalimpactofitsoperations.Thecompanyconsistentlystrengthenscarbonemissionmanagement,gainingacomprehensiveunderstandingofitscurrentgreenhousegasemissions,optimizingitsenergyconsumptionstructure,anddiligentlyworkingtoreducegreenhousegasemissions,therebycontinuouslycontributingtotheattainmentofthe"dualcarbon"goals.
Thecompany'swasteprimarilystemsfromtheproductionprocess,consistingmainlyoftinanditscompounds,defectiveanddiscardedelectroniccomponentsgeneratedduringprocessing,outerpackagingcardboardboxes,andwastesfromofficeactivitiesproducedbyemployees.Allwastewatergeneratedbythecompanyisdomesticsewage,withnoindustrialwastewaterproducedduringthemanufacturingprocess.Thecompanyalsogeneratesasmallamountofgreenhousegasemissionsfromelectricityandnaturalgasconsumption,productionprocesses,generatorusage,andvehicleoperations.Equipmentinoperationproducesminimalnoise.
BiodiversityProtection
Environmental Issues &Management Overview
13-14
Risk Assessment
Formulation of Business Continuity
Plan
Implementation of Business Continuity Plan
Monitoring & DrillsManagementProcess
Continuous Improvement
WillfarInformation IntelligentManufacturing WorkshopWillfarInformationhasincorporatedgreensupplychainmanagementintoitscorporatedevelopmentstrategy,implementingtop-leveldesigntopromoteenergy-efficientandlow-carbonsustainabledevelopmentindustries.Thecompanyfullyutilizesmodernenvironmentalprotectionandadvancedproductiontechnologies,activelydrivingthedevelopmentofacirculareconomyandindustry-wideenergyconservationandemissionreduction.
Thecompanyanditssubsidiariesconscientiouslyimplementlawsandregulationsrelatedtoenvironmentalprotection,suchasthe"EnvironmentalProtectionLawofthePeople'sRepublicofChina,"the"WaterPollutionPreventionandControlLawofthePeople'sRepublicofChina,"the"AirPollutionPreventionandControlLawofthePeople'sRepublicofChina,"the"EnvironmentalNoisePollutionPreventionandControlLawofthePeople'sRepublicofChina,"andthe"SolidWastePollutionPreventionandControlLawofthePeople'sRepublicofChina,"whilevoluntarilyfulfillingtheirsocialresponsibilityforecologicalandenvironmentalprotection.Thecompanystrictlyenforcesmodernenterprisemanagementsystems,establishingasystemofresponsibilitiesforsafeproduction,documentsforenvironmentalmanagementsystems,occupationalhealthmanagementsystems,financialmanagementsystems,dailymanagementsystemsforemployees,andmore.Toproperlyhandle,utilize,andeffectivelymanagethecompany'ssolidwasteandwastewater,reducingpollutantemissionsandharm,andalleviatingpollutiontotheenvironment,awastemanagementsystemhasbeenestablished.Topreventandreduceproductionaccidentsandequipmentwastagedueto"leaks,spills,anddrips,"aregularmaintenancesystemforfacilitiesandequipmenthasalsobeenputinplace.
Thecompany'swastewaterischanneledthroughmunicipalsewagepipestoatreatmentplantforunifieddischarge.Solidwasteismanagedcategorically,withwasteelectroniccomponentstreatedashazardouswasteandentrustedtocompanieswithprofessionalhandlingqualifications,whilegeneralsolidwasteishandedovertothelocalenvironmentalprotectiondepartmentforunifiedtreatment.Duringthereportingperiod,thecompanystrictlyfollowedrelevantlawsandregulationsregardingenvironmentalprotectioninobtainingdischargepermitdocuments,withthetotalquantityofeachpollutantemissionmeetingtherequirementsfortotalquantitycontrol.
EstablishmentoftheCompany'sEnergyManagementSystem
ThecompanyhasestablishedanenergymanagementsystemandsetupanEnergyManagementCenter,incorporatingenergyconsumptionmanagementintothedynamicsupervisionplatformoftheWillfarParkDataCenteratWillfar.Thisdatacenterenhancesparkmanagementefficiency,reducesgovernancecosts,anddemonstratesgovernanceeffectivenessbyintroducingdigital,intelligent,andsmartapplications.Thecompanyhasformulatedrelativelycomprehensivemedium-andlong-termdevelopmentplans,fullyadoptingmodernenvironmentalprotectionmeasuresandadvancedproductiontechnologies,vigorouslypromotingthedevelopmentofacirculareconomyandenergyconservationandemissionreductionintheelectronicequipmentmanufacturingindustry,providingthehighestqualityproductsfortheconstructionofa"resource-savingandenvironmentallyfriendlysociety,"andshoulderingthemostmission-orientedsocialresponsibility.Keytasksandmeasuresincludethepromotionofcleanproduction,thedevelopmentofwasteutilizationprojects,theadvancementofthecirculareconomy,theeliminationofoutdatedprocessesandequipment,andtheincreaseinthecomprehensiveutilizationrateof"threewastes,"ultimatelyachievinglow-carbondevelopmentfortheenterpriseandharmoniousdevelopmentforthecity.Additionally,thecompanyfocusesonthelayoutoftheelectronicmanufacturingindustry,activelyextendingtheindustrialchain.Upstream,itfostersgreensupplierstoachievehigh-qualityprocurementofrawandauxiliarymaterialsandgreendevelopment.Downstream,leveragingthecompany'sadvancedR&Dtechnology,itserveskeyindustriessuchassmartcities,smartparks,smartsecurity,andsmartwateraffairs,creatingacity-levelsmartbrain,eventuallyformingacompetitiveanddistinctiveelectronicequipmentmanufacturingindustrialparkwithintheregion.
Establishment of the Company'sEnvironmental ManagementSystemGreen System Establishment
15-16
Eco-friendly Corporate OperationsSimultaneously,thecompanyadherestogreenmanufacturingandoperations.Inrecentyears,ithascontinuouslyraisedthelevelofcleanproduction,conscientiouslyfulfillingitsobligationsforcleanproduction,carefullyformulatingcleanproductionworkplans,andimplementingcleanproductionsolutionsandmeasuresintodailyproductionandoperationmanagement,graduallyestablishingalong-termmechanismforcleanandlow-carbondevelopment.Theentireprocessofthecompany'sproduction,activities,services,andrelatedmanagementactivitieshaspassedISO14001environmentalmanagementsystemcertification.Throughtheuseofintelligentmanufacturingtechnology,thecompanyhasincreasedthecoverageofautomatedproduction,improvingbothproductionefficiencyandquality.Byimplementinggreendesignandselection,greenprocurementandgreensupplychainmanagement,greenmanufacturingandoperations,greenlogistics,greenpackaging,andgreenrecycling,significantachievementshavebeenmadeinareassuchasenergyconsumptioncontrol,energyconservationandemissionreduction,andgreenmanufacturing,withtheaimoffosteringanenvironmentallyfriendlyandresource-efficiententerprisethatadvanceseconomicandenvironmentalprogressintandem.Intransportation,thecompanyinternallyimprovesefficiencythroughintelligentgreenwarehousingandlogistics,achievingstandardizedmanagementandreal-timetraceability,storage,andshippingmanagementformaterialsthroughouttheentireprocess.Externally,itpromotesgreenlogisticsbyoptimizingtransportationmethodsandincreasingtransportefficiency,givingprioritytolow-carbonandefficientmodesoftransporttoreducecarbonemissionsduringproducttransportation.Inpackaging,thecompanystrictlyfollowsthedesignphilosophyof"compatibility,recyclability,andlifecyclemanagement,"implementingmodularandfunctionalstandarddesignsforpackaging,integratingpackagingfordifferentproducts,usingsustainablematerials,reducingthevarietyofpackagingboxes,andenhancingpackagingboxutilizationrates.
Throughvariouscarbonaccountingandevaluationanalyses,WillfarInformation,basedontheprincipleof"correctcarbonemissionscalculationaccordingtostandardspecifications,"satisfiesthefundamentalMRVprinciplesofbeingmeasurable,reportable,andverifiable.Throughnumerousenergy-savingrenovationsandtheutilizationofcleanenergy,thecompanyeffectivelyachievescarbonreduction,settinganexcellentindustrybenchmark.Theparkhasimplementedagingroomrenovations,workshoplightingenergy-savingrenovations,metertestingtableenergy-savingrenovations,watersupplysystemenergy-savingrenovations,andenergy-savingtechnicalrenovationprojects,effectivelyreducingelectricityconsumption,waterconsumption,andenergyconsumption.Theagingroomreplacesenergy-consumingequipmentwithnewenergy-savingequipment,installingatemperaturemonitoringsystemforreal-timemonitoring,andturningfansonandoffbasedontemperature;workshoplightingisreplacedwithenergy-savinglamps/LEDlamps,consumingonly40%oftheenergybeforerenovationandeffectivelyeliminatingelectricalsafetyhazardsfromexistingfluorescentlamps;20metertestingtablesareimproved,alongwithimprovementstometertestingsoftwareandprocesses.Underthesameoutputconditions,theimprovedmetertestingprocesssavesanaverageof50%energy;throughwatersupplysystemenergy-savingrenovations,awatersavingrateofnolessthan10%isachieved;implementingenergy-savingtechnicalrenovationprojectsresultsinayear-on-yeardeclineinunitproductenergyconsumption,providingmanagementandtechnicalsupportforthedeeprecoveryandefficientutilizationofsecondaryenergywithintheenterprise;thecompanyincreasinglyvaluesrenewableresourcesandcleanenergysuchasphotovoltaicpowergeneration,generating502,352.31kilowatt-hoursofphotovoltaicpowerin2023;concurrently,achievinga100%hazardouswasterecoveryrate,furtherintegratingresourceutilizationandthecirculareconomyintoenterprisedevelopment.
Green Office PracticesTakingthesynchronousdevelopmentofeconomyandenvironmentalprotectionasthepurpose,andfocusingoncreatinganenvironment-friendly,resource-savingenterprise,thecompanyimplementsvariousenergysavingandemissionreductioninitiativesintheofficearea,andencouragesemployeestobegreenandlow-carbonofficepractitioners.
Thecompanyhasadoptedmeasuressuchasimprovingprocessdesign,utilizingcleanenergyandrawmaterials,andemployingadvancedtechnologiesandequipment,therebyeffectivelycurtailingpollutionatitssource,boostingresourceutilizationefficiency,andstrengtheningenvironmentalprotection.SeveralofitsproductshaveearnedRoHScertificationandProductCarbonFootprintcertificates,demonstratingthecompany'sactivecontributiontothepursuitofcarbonpeakingandcarbonneutralitygoals.
ThecompanythoroughlyimplementstheimportantinstructionfromPresidentXiJinpingonpromotingindustrialtechnologicaltransformationandupgradingwithintelligentmanufacturingasthemainoffensivedirection,guidedbythe"14thFive-YearPlanforIntelligentManufacturingDevelopment."Combiningthelatestrequirementsandplansfromvariousprovincesandcities,ithasbuiltanintelligentmanufacturingfactory,settingabenchmarkforgreenproductionintheindustry.WillfarInformation'sintelligentmanufacturingprojectsspanmarketdemand,productresearchanddevelopment,processdesign,logistics,manufacturing,andservicesacrosstheentireproductlifecyclemanagement,significantlyenhancingproductdesign,bigdataoperations,productionprocesses,qualitycontrol,equipmentmanagement,andsafetymanagement.
Thecompanyactivelyconstructsandimprovesarecyclingsystemforusedmaterialswithintheproductmanufacturingandusageprocess,proactivelyassumingresponsibilityfortherecoveryandresourceutilizationofdiscardedproducts.Collaboratingwithprofessionalwasteproductrecyclingenterprises,thecompanyhasachievedthefullrecyclingandreuseofallwastematerialsinthemanufacturingprocess.Additionally,throughpartnershipswiththird-partyplatforms,thecompanyhasestablishedaproductionsystemencompassingmaterialcirculation,energycirculation,andwasteresourcerecycling,achievingadvancedlevelsinresourceandenergyutilizationefficiencyandpollutantemissionindicatorscomparedtodomesticcounterparts.
Energy Saving
Thecompanyimplementsa"Lightsoffwhenleaving"policyinofficeareas,setsairconditioningtemperatureto26°Candkeepsdoorsandwindowsclosedinsummer,andpostssignsadvocatingwalkingupanddownthestairsbelowthethirdfloorandturningoffthepowerwhennooneisaroundtoreduceequipmentpowerconsumptionandstandbyenergyconsumption.
Green TransportationShuttlebusservicesareprovidedtoreduceemployeedriving;theuseofpublictransportmeansandnew-energyvehiclesisencouraged,forwhichthecompanyhasinstalledchargingpiles.
Paper Saving
Willfaradvocatespaperlessoffice,promoteselectronicapprovalsandelectronicdocumentstorage,andencouragesdouble-sidedprintingtoreducepaperusage.
Water Saving
Thecompanyencouragesinternalwater-savingmeasuressuchaspostingwater-savingslogans,usingwatercupsinsteadofbottledwater,etc.
17-18
19-20
WillfarInformationboastsarobustindustrialfoundationintherealmofdigitalgrids.Leveragingitsindustryexperienceasthefoundationandinnovationasthedrivingforce,alignedwithnationalindustrialpolicyguidance,cateringtothesupply-sideneedsofthenewpowersystemsunderconstructionbyStateGridandChinaSouthernPowerGrid,aswellasthedemand-siderequirementsforsource-grid-load-storageinteractionsindigital-smartcities,thecompanymasterscoreself-developedtechnologiessuchasbigdataapplicationmanagement,communicationchips,andedgecomputing.Itprovidessolutionsfordistributionnetworksandpowerconsumers,maximizingenergyefficiency,enablingenergytobeobservable,measurable,adjustable,andcontrollable,contributingtoclients'energysecurity,reliability,andefficiency.Inthecontextofdigitalgrids,WillfarInformationhasconstructedacomprehensiveproductportfolioencompassingcorechips,keydevices,andapplicationsystems,offeringdigitalsolutionstostakeholdersacrosstheenergyvaluechain.Digitalizationconstitutesthecoreleveroftheenergyinternet,utilizingdigitalmeanstointegrateallaspectsofsource-grid-load-storage.Theinformatization,intellectualization,andinteractivityofdistributionandpowerconsumptionwillemergeasprincipaldevelopmentdirectionsforthenewpowersystem.WillfarInformationwillcapitalizeonitssubstantialtechnologicalandproductadvantagesinthedigitalgriddomain,providingcutting-edge,technologicallyadvancedsupportfordatacollection,safetymonitoring,andinformationtransmissionrequiredbymainstreamenergyenterprises.Thecompanyaimstohelpusersconserveenergy,utilizeenergysafely,efficiently,andconveniently,servingtosupportasustainable,harmonioussocietyforbothpeopleandtheenvironment,embodyingtheprinciplesof"peakcarbon"and"carbonneutrality."SeveralnewsolutionsindependentlydevelopedbyWillfarInformationalignwiththedemandsofconstructinganewpowersystemunderthe"dualcarbon"strategy,addressingvariousmarketpainpointsandprovidingfreshideasandreferencesforindustryproductinnovation.
Intherealmofdigital-smartcities,thecompanyaddressesthe"digitalcarbonneutralitymarket"acrossdomainslikesmartenergy,smartfirefighting,smartwater,andsmartelectricityconsumption.DrawinguponitsprofoundR&Dcapabilities,WillfarInformationtailorsadvancedholisticsolutionsfordigital-smartcityscenariosinwater,gas,firefighting,enterprises,andindustrialparks,deeplyresonatingwithcarbonneutralitymanagementrequirements.Currently,inthesmartwatersector,thecompanyoffersawatersupplypipelineleakagemonitoringsolution,tacklingissuessuchashighwaterlossrates,production-consumptiongaps,unclearpipelineconditions,inaccurateleaklocalization,andhighmaintenancecosts.Inthesmartparkdomain,itdevelopsanintegratedparkmanagementplatformtoeffectivelysaveenergyandreduceconsumption.Inthesmartgassector,itimplementsheatnetworkconstructionprojects,realizingfunctionslikemonitoringandautomaticbalancingofsecondarynetworks,therebyachievingenergyconservation,emissionreduction,andcost-effectiveness.WillfarInformationiscommittedtoreshapingthemanagementandefficientutilizationofelectricity,water,gas,heat,firefighting,andmunicipalservicesthroughenergyinternetsolutions,therebyassistingclientsinenhancingenergyutilizationefficiency,curbingwasteandconsumptionofenergy,andultimatelyreducingoverallcarbonemissions.
Thereporttothe20thNationalCongressoftheCommunistPartyofChinarequiredto"activelyandprudentlyadvancethecarbonpeakingandcarbonneutralitygoals.Basedonournation'senergyandresourceendowment,wewilladheretotheprincipleofestablishingfirstandbreakinglater,implementingthecarbonpeakingactionplaninaplannedandstepwisemanner."Achievingthe"carbonpeak"and"carbonneutrality"objectiveswillfundamentallyreshapeChina'sfutureproductionandlifestylepatterns,exertingfar-reachinginfluenceonthecountry'ssocio-economicdevelopment.Anelectricity-dominatedenergyapproachwillunderpintheindustrialandeconomictransformationandthesteadyimprovementofpeople'slivingstandards.Simultaneously,inthecontextofgreenandlow-carbontrends,deepde-carbonization,zero-carbontechnologies,efficientelectricityconsumptiontechnologies,renewableenergygenerationtechnologies,andvirtualpowerplanttechnologiesarebecomingfrontiersoffuturescienceandtechnology,aswellasnewcompetitivefocalpoints.
Theconvergenceoftheenergyrevolutionandthedigitalrevolutionisdrivingthedigitaltransformationofthepowergrid.Anovelenergyecosystemiswitnessingescalatinglevelsofdigitization,networking,andintelligence.Inresponsetothepressingdemandsonthepowergenerationsideforlarge-scale,high-proportionintegrationandconsumptionofnewenergysources,andonthepowerconsumptionsideforextensiveinteractivityandmobilityofdistributedenergysourcesandelectricvehicles,thisaccelerationwillfacilitatethedigitaltransformationofthepowergrid,promotecoordinatedinteractionbetweenenergysources,grids,loads,andstorage,andpropelthegrid'sevolutionintoamoreintelligentenergyInternet.
Facilitating Low-Carbon Development
EmpoweringtheNewPowerSystemforSustainableDevelopmentVirtualPowerPlantsandSource-Grid-Load-StorageMonitoring&RegulationInWillfarInformation'svirtualpowerplantsolution,advancedsensinglayersmartmeteringtechnologycapturesoperationalinformationfromdistributed"source-grid-load-storage"resources.Proprietarychips,communicationmodules,andintelligentgatewaysatthenetworklayeraggregatethisinformationanduploadittothecloudplatform.AIcomputationanalysisandloadforecastingschedulingmodulesthenissuedispatchinstructions.Thissolutioniswidelyappliedtodemand-sideadjustableresourceslikephotovoltaic-storagepowerplants,chargingandswappingstations,energyconsumptionmonitoring,andflexibleinterconnectionofdistributionsubstations.Utilizingrapid-responsecoordinationcontroltechnology,itfacilitatesthetransitionfrom"powerfollowingload"to"power-loadinteraction."
◆SmartChargingPilesAugmentVirtualPowerPlantsinSmartCityConstructionWillfarInformation'ssmartchargingpileshavebeendeeplyintegratedintomultipleapplicationscenarios,includingprojectsinGuangxi,Guizhou,theChangshaBusGroup,andtheLuguValleyConstructionGroup.Theyexhibitsignificantadvantagesinareassuchasintelligence,compatibility,featurerichness,andenergyconservation.Combiningthecompany'straditionalstrengthsininformationcommunicationanddataplatforms,thesesmartchargingpileshavebecomeacrucialcomponentofWillfarInformation'svirtualpowerplantsystemsolutions.Theyenhancetheresponsecapacityofthesysteminareaslikedistributedenergyallocation,flexiblepotentialexploitation,loadforecasting,andreal-timecoordinationcontrol,enrichingthesystem'sregulatorymodes.
IntelligentGasMonitoringSystemFortifiesGasSafety
WillfarInformation'sintelligentgasmonitoringsystemsolutionharnessesreal-timegasconcentrationmonitoringdata,allowinguserstosetcustomalertthresholdsforpreemptivewarningsbeforeactualalarmsoccur,thuspreventingpotentialincidents.Theplatformfeaturesintelligentserviceslikeannualinspectionremindersanddetectorfaultalerts,enablingmaintenancepersonneltopromptlyaddressequipmentissuesandensuresafeoperation.
21-22
◆SmartFirefightingSystemSafeguardsFinancialIndustrySecurityWillfarInformation'ssmartfirefightingsolutionintegratessmartfirefightingwithtraditionalfirefightingmethods.Leveragingadvancedtechnologiesandscenarioinnovations,itredefinesthefireprotectionarchitectureforparks,prioritizinghuman-centricdesignandcenteringonAIalgorithms,fullyintegratingcomputingpowerandAIOTcapabilitiestoprovidethenecessarycomputationaldataforfiremanagement.Empoweredbysmartbrainalgorithms,thesolutionenablesvisualized,controllable,andtraceablefiresafetymanagement,ensuringreal-time,precisefirepreventionandcontrol,andtransparentmanagement.IthasalreadybeensuccessfullyimplementedininstitutionssuchasAgriculturalBankofHunan,PostalSavingsBankofHeilongjiang,IndustrialandCommercialBankofChina,AgriculturalCommercialBankofXinjiang,andShanghaiPudongDevelopmentBank,continuouslysafeguardingthesecurityofthefinancialindustry.
Integrating Smart Water Infrastructure into IndustryEcosystems to Boost Sector Development
TheLinliHydrologicalStationandShimenHydrologicalStationupgradeprojectsconstructedbyWillfarInformationhavebeendeemedtomeetconstructionqualitystandardsandpossesscompletedocumentation.Approvalisgrantedfortheproject'scompletionacceptanceunderthecontract.Thehydrologicalstationsemployvariousflowmeasurementmethods,suchasanewlyinstalledfullyautomaticintelligentcablewaysystem,H-ADCPsystem,andmobileradarwaveautomaticflowmeasurementsystem,enablingautomaticreportingofflowsatdifferentwaterlevels.Comprehensivevideosurveillanceandexternaldisplayscreensforpromotionalpurposesfulfillremotemonitoringandmanagementrequirements.Thestationshavebeenpraisedasthe"mostbeautifulhydrologicalstations"byrelevantleaders.
23-24
One-Stop Service System for FireControlFire Safety Unit Early Warning System
Visualized fire risk factors, real-time alerts
Convenient, intelligentfire safety management
Intelligent Operation SystemService process and quality control with7*24h support
Maintenance and ServiceProvider Supervision SystemEnhanced service quality and control
Professional, efficient fire maintenancemanagement application: multi-dimensional control, maintenanceguidance, predictive maintenance, etc.Fire Data Middle PlatformHighly compatible IoT connectivity to cloud platformVarious Social UnitsVarious Social UnitsVarious Social Units...
Various SoDataCollectioncialUnits
Smart Environmental Protection IoT Sensing SystemWillfarInformation'ssmartenvironmentalprotectionsystemsoftware,combinedwithenvironmentalmonitoringIoTsensingdevices,fullyleveragesinnovative,advanced,feasible,andscalabletechnologiessuchashydrologicalmonitoring,IoTsensing,bigdataanalysis,AI-poweredintelligentmonitoring,andcloudcomputing.Thesetechnologiesareintegratedandcollaborativelyinnovated,embracingtheprinciplesofcomprehensivesensing,automatictransmission,intelligentanalysis,andfine-grainedmanagement.Theyestablishamulti-layered,three-dimensionalenvironmentalperceptionsystemfortheYanghuecosystem,avisualintelligentanalysisplatform,andanapplicationshowcasesystem,formingamulti-layered,innovativemonitoringsystem.ThissystemsupportsthecomprehensivemanagementcampaignforthewaterenvironmentinYanghu,substantivelyenhancingleanmanagementcapabilities,optimizingwaterenvironmentalqualityandaesthetics,ultimatelystrivingtowardsthegoalofa"free-flowinglake,clearwater,verdantshores,andpicturesquescenery."
UltrasonicWaterMetersDriveDigitalTransformationandUpgradingofWaterServicesinaCertainAfricanCountryWillfarInformation'snewgenerationofoverseasintelligentultrasonicwatermeterseries,tailoredspecificallytooverseasmarketdemands,representsthecompany'slatestproductlineup.Thisseriesincorporatespatentedtechnologiesrelatedtoflowrateandpipesegmentflowfielddesign,positioningitselfattheforefrontoftheindustryincriticaltechnicalattributessuchashighrangeratio,lowstart-upflow,andlowpressureloss.Thesefeaturesprovidewaterutilitieswithhighlyaccurateandcost-effectivemeteringinstruments.Leveragingpatentedstructuraldesigntechnologies,themetersofferuniquefunctionalitieslikeautomaticreportingupontampering.Asthefirstbatchofproductsuppliersforthecountry'ssmartwatermeterupgradeproject,WillfarInformationisinstrumentalincatalyzingthedigitaltransformationandmodernizationofthecountry'swaterservicessector.。
DCU Driving Upgrade and Development of Bangladesh's Power Infrastructure
WillfarInformationprovidesHES,MDMS,CIS,andBillingsystemstoElectricitéduLaos(EDL),thenationalpowercompanyofLaos.ThisprojectcomprehensivelyupgradesEDL'sexistingAMIsystem,enhancingitsintelligentmanagementcapabilities,layingthegroundworkforthesubsequentcomprehensivetransformationof1.6millionhouseholds,andwillalsodrivetheintelligenttransformationofotherenergymanagementsectorsinLaos,suchaswaterutilities.
Collaborating on Global Energy Transformation for a Shared Planet
25-26
Innovation-driven and High-Quality Growth
Caring for EmployeeGrowth
Social Contributions
3.1 Innovation as a Driver of
Development
3.8 Equal and Legal Employment
3.14 Social Contributions &
Philanthropy
3.2 New Momentum for High-
Quality Growth
3.9 Employee Health & Safety3.15 Industry Collaboration &
Shared Development
3.3 Product Quality & Safety
3.10 Employee Welfare & Caring
Measures
3.4 Sustainable Supply Chain
Management
3.11 Employee Training
3.5 Customer Service System
and Interests
3.6 Information & Data Security
3.13 Employee Motivation
3.7 Intellectual Property Protection
3. Society Section
InnovationasaDriverofDevelopmentInnovationisWillfar'sDNA,anddevelopmentisitsrelentlesspursuit.Asthecoredrivingforceofgrowth,thecompanydelvesdeeplyintotheEnergyInternetofThings,cultivatingthe"humancapital,scienceandtechnology,andbigdata"triadofnewelementstobolsteritssoftpower,steadilyconsolidatingitsdevelopmentfoundation,andcontinuallybroadeningitsprotectivemoatforgrowth.Throughtechnologicalinnovation,thecompanyenhancesdevelopmentquality,shapesnewmomentum,andestablishesnewadvantages.In2023,thecompany'sR&Dinvestmentamountedto227,435,900yuan,accountingfor10.22%ofoperatingrevenue,registeringayear-on-yearincreaseof14.57%.Thecompanyhad409R&Dpersonnel,constituting50.4%oftheworkforce.
Initspursuitoftechnologicaladvancement,thecompanystrictlyadherestolawsandregulationssuchasthePatentLawofthePeople'sRepublicofChina,theTrademarkLawofthePeople'sRepublicofChina,andtheCopyrightLawofthePeople'sRepublicofChina.GuidedbythenationalstandardGB/T29490—EnterpriseIntellectualPropertyManagementSpecification,itmanagesintellectualproperty-relatedmatters.In2023,thecompanyadded64patents,including29inventionpatents,and48softwarecopyrights.Cumulatively,thecompanyholds707validpatentauthorizations(149ofwhichareinventionpatents),898softwarecopyrights,and6rightstointegratedcircuitlayoutdesigns.Regardingnationalandgroupstandards,bytheendofthereportingperiod,thecompanyanditsR&Dstaffhadparticipatedintheformulationof65national,industry,local,andgroupstandards,including36nationalstandards,11industrystandards,1localstandard,and17groupstandards.
DeepeningIntegrationofProduction,Education,andResearchtoFacilitateKeyTechnologicalBreakthroughsandSupportDualCarbonGoals
In2023,thecompanycontinuedtovigorouslypromotethein-depthintegrationanddevelopmentofproduction,education,andresearch,poolinghigh-endintellectualresources,facilitatingthesharingofresearchoutputs,andencouragingvariousinnovativeelementstoconvergewithintheenterprise.Thisfostersdeepintegrationofproduction,education,research,andapplication.Currently,thecompanyhasinitiatedcooperationprojectswithnational-levelnew-typeresearchinstitutionsandZhejiangUniversity,gearedtowardstheconstructionofanewpowersystem.Addressingthedemandsofintelligentpowerdistributionandutilizationscenarios,theyaredevelopingdedicatedchipsandintelligentterminalsforpowerdistributionandutilization,supportingthecomprehensive,preciseperception,on-siteinformationprocessing,intelligentdecision-making,andsafe,efficientoperationofsmartpowerdistributionnetworks.Concurrently,thecompanywillcollaboratewithmultipleuniversitiesonkeytechnologicalbreakthroughsinactivedistributionnetworkgroundfaultprotection,enhancingthesafetyofactivedistributionnetworkoperations,ensuringthesecureconnectionandreliableoperationoflarge-scaledistributedpowersources,therebycontributingtotherealizationofthenationaldualcarbonstrategictargets.
DeepeningChipStrategy:ChipsareoneofWillfarInformation'skeyR&Ddirectionstailoredtocurrentgridcommunicationtechnologyneeds.In2023,thecompanyachievednotablesuccessesinthechipfield,includingtheFirstPrizeofChinaElectricPowerScienceandTechnologyAward.BuildinguponthelaunchofanewgenerationofHPLC+HRFdual-modecommunicationchipmodulesandmodulesin2023,thecompanywillcontinuetoincreaseinvestmentinchipandcommunicationmoduleR&D,furtherfocusingonoptimizingkeytechnologiesandcommunicationmodulesofWi-SUNlocalroutingmeshnetwork.Thiswilladdressthetimelyandefficientremotecollectionandanalysisofdata,enablingbidirectionalinteractionbetweenenergyflowsanddatastreams,aimingtobecomealeadingsupplierofAMI(AdvancedMeteringInfrastructure)solutionsininternationalmarkets.
FocusingonThreeKeyAreasofR&DtoEmpowerSmartGridsandSmartCitiesIn2023,againstthebackdropofglobaldigitalsmartcityconstructionandgreendevelopment,WillfarInformationcontinuestoalignwiththeStateGrid'srequirementforthecontinuedstrengtheningofsmart,strongdigitalgridsandtheSouthernGrid'splanforthebalancedupgradingoftraditionalgridsalongsidethedeepeningofdigitalempowerment.Itseizesopportunitiesinglobaldigitalsmartcitydevelopmentandgreenstrategies,concentratingitsR&Deffortsonthreekeyareastoexpeditetheconversionofinnovativeoutcomes.
InnovativeDevelopmentofIoTApplicationLayerSoftwareSystemsandPlatforms:Asthedrivingforcebehindtechnologicalinnovation,softwarerepresentsthecompany'scoretechnicalcapability,rapidlyevolvingtowardsnetworked,platform-based,andintelligentdirections.Inthefuture,thecompanywillprioritizeincreasedinvestmentinIoTapplicationlayersoftwaresystemsandplatforms,targetingtheglobalmarketandfocusingonservingthedigitalmanagementneedsofcustomersinareaslikesmartgrids,intelligentfirefighting,andintelligentwaterresourcesmanagementunderthedualcarbonrequirements,helpingthemachievecostsavingsandefficiencyenhancementsthroughdigitalization.
R&DofEmergingTechnologies:
WillfarInformationwillfocusonstrengtheningthedevelopmentofkeyartificialintelligence(AI)technologiessuchasbigdataanalytics,edgecomputing,andtopologyrecognition,deeplyintegratingthemintothebusinessprocessesofsmartgridsandsmartcities.Byupdatingandupgradingintelligentalgorithmsfortasksliketopologyidentification,loadforecasting,andvisualmonitoring,thecompanywillcontributetotheconstructionofanewpowersystem.
软件著作权
合计1121611
本期新增
外观设计专利6243
发明专利29149
The Company Intellectual Property in 2023
29-30
实用新型专利
累计数量类别
其它
CategoryNew Additions in 2023Cumulative TotalInvention Patents29149Utility Model Patents29315
Design Patents6243Software Copyrights48898
Others06
Total1121611
30 ProvincialPower GridCompanies
Over 250Local PowerCompanies
Morethan
Hundred
Million |
Connections
Power
IoT |
DevicesNine RegionalSales Centersand 30ProvincialOffices
2,800 County-Level PowerCompanies
PersistentandActivePursuitof"ImprovingQualityandEnhancingEfficiency"toConsolidatethePathofHigh-QualityDevelopmentIntermsofoperationalqualityimprovement,thecompany,guidedbythethemeof"steadyprogressandinnovativedevelopment,"adherestotheprincipleofincreasingrevenuewhilecontrollingexpenses,implementingthe"ThreeIncreasesandThreeReductions":increasingcontracts,increasingcollections,andincreasingmarketshare;eliminatingwaste,badreceivables,andinventorywithpotentialobsolescencerisks.Regardingriskpreventionandperformanceenhancement,riskpreventionisgiventoppriority,withtheaimofconsistentlyimprovingprofitqualityandensuringthateverypennyofrevenuestemsfromhealthybusinessoperations.Additionally,thecompanyseeksefficiencyandbenefitsfrommanagement,practicingthe"addition,subtraction,multiplication,anddivision"ofoperations,focusingon"improvingqualityandenhancingefficiency,"strikingabalance,prioritizingkeyareas,makingwell-informeddecisions,andfullyactivatingnewdriversforhigh-qualitydevelopment.
Intermsofrevenueenhancement,first,thecompanyconductsin-depthanalysesofdomesticandinternationalpolitical-economicsituationsandmarketopportunities,capitalizingonexistingmarketswhileactivelypushingfortheexplorationofemergingmarkets.Second,inprojectexecutionanddelivery,thecompanyensuresallprojectsarecompletedontime,withhighquality,andefficiency,deliveringexcellentservices.Third,intechnologicalinnovationandapplication,thecompanycontinuouslyinvestsinresearchanddevelopment,integrationinnovation,enhancingthecompetitivenessofitsIoT-connectedsolutionsforthefuture,proactivelyrespondingtoglobalgreendevelopmentpolicies,andcontributingthestrengthofWillfartotherealizationofChina'snewpowersystem,smartcities,andcarbonneutralitygoals.
New-QualityProductivityOutputandInternationalCooperation
WillfarInformationboastsawealthofscientifictalentandinnovativeresourcesunderpinningthedevelopmentandapplicationofnewtechnologies.Moreover,withasolidfoundationinthemanufacturingofdistributionandutilizationequipmentandIoTdevices,thecompanypossessesacomprehensiveproductionsystemandsupplychainnetwork,enablingittoswiftlyrespondtomarketdemandsandmass-producehigh-quality,technologicallyadvancedproducts.Regardingtheinternationaloutputofnew-qualityproductivity,WillfarInformationhasplannedmultipleinvestmentsinoverseassmartfactoriesandisconcurrentlynegotiatingcapacitybuildingsolutionexportprojectswithmultiplepartners.Leveragingtechnologiessuchasautomatedproductionsystems,cloudservices,bigdataanalytics,andAIalgorithms,itprovidessmartfactoryconstructionsolutionsinvariousequipmentmanufacturingfields,includingwatermeteringdevices,energyefficiencymanagementequipment,communicationmodulesandcommunicationdevices,anddistributionnetworkequipment.BycombiningWillfarInformation'stalentresourcesandsupplychainnetwork,theseinitiativesfacilitatedigitaltransformationandinnovativedevelopmentforbothself-builtandcollaborativefactories,drivingglobalmarketexpansion,productandtechnologycollaboration,andcapacitycooperationformutual,win-windevelopment.
Full-ScalePromotionofInternationalizationtoActivateNewDriversforHigh-QualityDevelopment
Inthecontextofdigitalizationandintelligence,thecompanywillcloselyfollowindustrytrendsandkeenlyunderstandcustomerneeds,dedicatedtoprovidingclientswithexceptionalsystemsolutionsandhigh-qualityservices.Whilecontinuouslydeepeningitspresenceinthesmartgriddomain,itwillalsoexpandintosmartcities,overseasmarkets,andthechipsector.
Thecompanyisfullyandswiftlyadvancinginternational"threetransformations"–intermsofinternationalizedmarketthinking,institutionalstructures,andmanagementteams–implementingstrategicshifts.Accordingtomarketdemands,thecompanywilltransformfromapureexportmodeltoonefeaturinglocalizedproductionandsalesoverseas,broadeningitsglobalmarketcoverage,gainingdeeperinsightsintolocalmarketdemands,enhancingbrandinfluenceinlocalmarkets,andnurturingaprofessionalteamwithinternationalperspectivesandcross-culturalcommunicationskills,therebyboostingcompetitivenessininternationalmarketsandactivatingnewdriversforthecompany'shigh-qualitydevelopment.
Intoday'srapidlychangingmarketenvironment,thecompanyisacutelyawarethat"improvingqualityandenhancingefficiency"isnotonlyasurvivalstrategybutalsothefoundationforgrowth.ThisyearmarksacriticaljunctureinWillfarInformation'sFive-YearPlan,aswellasayearofdeepeningitsinternationalization.Althoughtheworld'spoliticalandeconomiclandscapeandgrowthdynamicsrenderthecomingyearuncertain,thetrendtowardsseekingopportunitiesamidstrisks,pursuingdevelopment,andfosteringpeaceremainsunchanged.Environmentalprotectionandthedualcarbongoalsremainintegraltotheshareddestinyofhumanity.Amidstsuchatransformativeera,thecompanyfirmlybelievesthatthekeytonavigatingexternaluncertaintiesliesin"strengtheningoneself,"relyingoninternalcertainty.
New Momentum for High-Quality Growth
31-32
Product quantitative information
632,400 yuan
4,052 person-times
108 hours
3times
33-34
Product Quality & SafetyActivelypromotingthe"LeanProduction"modelandtheoptimizationoftestingprocesseswitha"4-in-1"approach,thecompanycontinuouslyimprovesenergy-savingandemission-reductionmeasuresintheproductionprocess.AsaleadingproviderofEnergyInternetofThingssolutionsinChina,thecompanyactivelycontributestothedevelopmentoftheGlobalEnergyInternet,promotingsmartgridanddigital-smartcitydevelopmentthroughcleanandgreenmeans.
Foralongtime,thecompanyhasthoroughlyimplementedtheguidingprincipleof"SafetyFirst,Prevention-Oriented,andPreemptiveTreatmentIntegrated,"establishingaseriesofmeticuloussafetyproductionsystems,includingtheComplianceObligationControlProcedure,EmergencyPreparednessandResponseControlProcedure,ComplianceEvaluationControlProcedure,andEnvironmentalandOccupationalHealthOperationManagementControlProcedure.Potentialsafetyhazardsareidentified,subjectedtoregularinspectionsandmaintenance,andthecompanyrequiresitsdirectors,supervisors,seniorexecutives,andmanagersatalllevelstoleadbyexampleinadheringtosafetycodes,overseeingeachothertorigorouslyenforcesafetypractices.Thecompanyhasestablishedaproducttraceabilitysystem,trackingproductsthroughouttheentireprocess,providingqualityassurancetocustomers.Incaseofdefectsorqualityissues,arecallcanbepromptlyinitiated.ThecompanystrictlyabidesbylawsandregulationssuchastheProductionSafetyLawofthePeople'sRepublicofChina,theProductQualityLawofthePeople'sRepublicofChina,andtheTrademarkLawofthePeople'sRepublicofChina.Duringthereportingperiod,noproductrecallwastriggeredduetosafetyandhealthreasons,norwereanycasesdiscoveredwherethecompanyviolatedlawsandregulationsrelatedtoproductandservicequality.
Onthepathofcontinuousinnovationandcapacitybuildingforqualityassurance,thecompanyexploresandpractices,creatingtheWQM(WillfarQuantityManagement)digitalqualitymanagementplatformbasedontheconceptof"OneCore,TwoWings,andThreeIntegrations."ThecorereferstoacomprehensivequalitymanagementphilosophyandIPDresearchanddevelopmentsystemarchitecture.ThetwowingsconsistofanoperationalproductionqualitymanagementplatformbuiltonCRM+ERP+MESandasupplierqualitymanagementplatformbasedonSRM.Ultimately,theplatformachievesthreeintegrations:seamlessqualitymanagementfromdemandtoacceptance,fusionofdecision-makingprocesseswithoperationaldata,andintegrationofproblemretrospectionwithclosed-loopmanagement.ThroughtheimplementationoftheWQMplatform,WillfarInformationhasachievedaqualitativeleapinitsqualitymanagementlevelandservicecapabilities,resultinginsubstantialenhancementsacrossoperatingperformance,customersatisfaction,andbrandbenefits.
◆Product Quality Inspection Process
Product Recall Procedure
Product Service Certificate
Number ofParticipantsin EmergencyDrillsProductionEmergencyDrillsInvestment inWork Safety
CustomerSatisfactionProductQualificationRateTrainingDurationProductionTraining
99.75%99.93%
Flowchart of Product Quality Inspection ProcessMonitoring and Measurementof Processes and Semi-Finished Products
First Piece on theProduction Line
Initial
InspectionSpecializedInspection
MutualInspection
PatrolInspection
Judgment"Procedure for Control ofNonconforming Products" and"Management Regulations forHandling Product Anomaly Events"
NextProcess
Monitoring andMeasurement ofFinished Products
In-line Finished
ProductsFunctionalInspection
PerformanceTesting
JudgmentWarehousing
"Procedure for Control ofNonconforming Products" and"Management Regulations forHandling Product Anomaly Events"Final RandomInspection Prior to
ShipmentJudgmentDelivery
Timing for Potential Recall ofAlready Delivered Products to
CustomersInformation Collection & Analysis
on DefectsDefectInvestigationFormulation of Recall Plan& Determination of Recall
ScopeIssuance of Recall Notice
& Implementation of
Recall
Handling & Root Cause
Analysis of Recalled
ProductsCorrective & PreventiveActions and Assessment of
Treatment Effectiveness
Recall Summary &Record Control
The end
Number ofProduction
Accidents
WillfarInformationhasincorporatedgreensupplychainmanagementintoitscorporatestrategy,institutingtop-leveldesignforgreenSCMwiththeobjectiveofdrivingenergy-efficient,low-carbon,andsustainableindustries.Thecompanyuniversallyappliescontemporaryenvironmentalprotectionmethodsandadvancedmanufacturingtechnologies,vigorouslypromotingcirculareconomyandwide-rangingenergyconservationandemissionsreduction,thusprovidingpremium-qualityproductsforthecreationofa"resource-efficientandenvironmentallyfriendlysociety,"assumingitsmostmission-centricsocialresponsibilities
WillfarInformationwillpersistentlyembedthephilosophyof"greendevelopment,"consistentlyrefiningitsgreensupplychainmanagementframework,expeditingthedevelopmentandservicedeploymentofhigh-tech,high-value-addedproductscharacterizedby"greentechnology,intelligentenvironmentalprotection,anddependableefficiency."Itwillstreamlineproductstructure,elevateproductquality,institutearesourcerecyclingsystemthroughouttheentirevaluechain,andsetaparadigmaticbenchmarkforlow-carbon,greendevelopmentwithintheindustry.Concurrently,thecompanywillpivotaroundtheconvergenceofenergystreamsandinformationflows,devisingholisticsolutionsorientedtowardcarbonneutrality,facilitatinggovernments,businesses,industrialparks,andotherclienteleinembracingcarbon-neutralactions,andcollectivelyengaginginandpropellingChina'scarbonneutralitytargets.
Sustainable Supply Chain ManagementThecompanyhasestablishedacomprehensivesupplierevaluationsystem.First,basedoninformationfromdomesticandinternationalsourcesaswellasmajormanufacturerswithintheindustry,pre-qualificationscreeningisconductedtoidentifypreliminarysuppliercandidates.Subsequently,ajointassessmentiscarriedoutbyR&Dandqualitypersonnelfromrespectivebusinessdivisions,encompassingthesupplier'squalitymanagementsystem,technicalcapabilities,corporatereputation,productquality,indicativepricing,andcommercialterms.FollowingtheSupplierManagementRegulationsandthedetailedsupplierevaluationcriteria,onlythosesuppliersachievingtherequiredcompositescoremayproceed,atwhichpointtheyarerequestedtocompletea'SupplierIntroductionApplicationForm',whichuponapprovalbytheManagementRepresentativeisenteredintothesystem.Uponestablishingapartnership,thecompanyconductsrandominspectionsoneachbatchofproductsdeliveredbysuppliers.Intheeventofqualityissues,theQualityDepartmentshallissuea'NotificationofNonconformingProduct'tothesupplier,whomustpromptlyrespondwithcorrectivemeasures.TheQualityDepartmentthenverifiestheclosureoftheseimprovements.Shouldseriousqualityproblemsarise,a'QualityAlertNotice'isissued,anddependingontheseverity,a'QualityBlacklist'mayalsobedispatched.Inresponse,theProcurementDepartmentwouldsuspendthesupplier'squalificationsandceaseplacingordersbasedontheblacklistissuedbytheQualityDepartment.Moreover,theProcurementDepartmentconductsperformanceevaluationsofsupplierswhohavedeliveredfiveormorebatcheswithinahalf-yearperiod,withassessmentcriteriaencompassingtechnicalexpertise,quality,deliverytimeliness,pricing,andservicequality.SuppliersachievinganA-gradeintheevaluationaregivenpriorityconsiderationfororders,whilethosereceivingaD-gradeundergorectificationorpotentialelimination.
Initsdealingswithlarge,medium,andsmall-scalesuppliersandclientsalike,thecompanyconsistentlyupholdstheprincipleofequalityandfairness.Byensuringtherearenoinstancesofoverduepaymentsduringthereportingperiod,itfostersamoresustainablesupplychainecosystem.
Customer Service System
Customer SatisfactionThecompanyhasputinplacethe'ManagementRegulationsforHandling&ClosingCustomerComplaintsRegardingProductQuality.'In2023,customersatisfactionreached99.75%.Afterreceivingcustomerfeedback,thetechnicalservicedepartmenttakesover,confirmingthefaultphenomenon.Ifthefaultisverified,departmentssuchasR&D,engineering,andqualityconductrootcauseanalysis,formulatingaresolutionplaninvolvingproductrepairorreplacementtoeliminatethefault.Internally,long-termimprovementmeasuresaredevelopedinresponsetotheissuetopreventsimilaroccurrencesinthefuture.
Technical Service Response
WillfarInformation places great importance on customer feedback and requirements, establishing a rapid technical service responsesystem with the service policy of "Prioritizing customers' urgency, anticipating their needs, and continuously enhancing servicevaluethrough professional expertise!" The company remains steadfastly customer-centered, providing prompt, professional, and efficient supportand services. Nationwide, it maintains 36 service branches staffed with dedicated technicians on a 24-hour rotation, ensuringcomprehensive pre-sales, mid-sales, and post-sales services to meet client demands.
Diversified Service ModelsOffline: Building a global service network to enhance customer experience through localized services, enabling in-depthunderstanding of customer needsOnline: Establishing a network technical service center for real-time remote communication and one-stop services, offeringscientific solutions to customers
Integration and Interaction of Online and Offline Channels: Providing efficient and intelligent services
Continuous Improvement MechanismServiceprocessesaredigitally,informativelyanddynamicallymanaged,withmarketinformationcollectedandanalyzed,customerfeedbackimplementedinaclosed-loopmanner,andexperiencecompiledintoaknowledgebase,therebydrivingcontinuousimprovementandinnovationofthecompany'sproductsandservices.
Coremeasuresinvolvetheformationofgreenintelligentfactories,endorsementofcleanproduction,initiationofwasteutilizationprojects,advancementofthecirculareconomy,andassemblyofanenergymanagementsystemplatform.Simultaneously,WillfarInformationwillstrategicallypositionandextenditselfwithintheelectronicmanufacturingindustry'svaluechain,proactivelynurturinggreensuppliersupstreamtoassurehigh-quality,eco-friendlyrawmaterialprocurement.Downstream,leveragingthecompany'sstate-of-the-artR&Dcompetencies,itwillcatertopivotalsectorslikesmartmunicipalgovernance,smartindustrialparks,smartsecurity,andsmartwatermanagement,collaborativelyerectingcity-scaleintelligentcontrolsystems,ultimatelyactualizingthecompany'slow-carbondevelopmentinconsonancewithurbandevelopment.
Inpursuitoftheoverarchingobjectivesofagreensupplychain,WillfarInformationfocusesonenhancingenergyefficiencyandmanagingcarbonemissionsacrossvariousstages,encompassinggreenproductdesign,eco-consciousrawmaterialacquisition,greenfactorymanufacturing,environmentallysoundcorporateoperations,greenpackaging,andproductrecycling.
Customer Problem Resolution Process
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Network Technical Service CenterTechnical Solutions, Technical Documentation, FAQs, etc.
7*24 Hour Free Service Hotline
Remote Telephone Support
Service Requests
Work OrderConfirmation
On-site ServiceService EvaluationEstablishmentofstandardizedservicemanagementprocessesandlocalon-sitesupportthroughbranchoffices
Thecompanyscrupulouslyadherestolawsandregulationsrelatedtopersonalinformationanddatasecurity,includingthe'PersonalInformationProtectionLawofthePeople'sRepublicofChina,'the'CybersecurityLawofthePeople'sRepublicofChina,'the'DataSecurityLawofthePeople'sRepublicofChina,'andthe'ConsumerRightsandInterestsProtectionLawofthePeople'sRepublicofChina.'Itconsistentlycarriesoutpublicityandeducationalactivitiesonconfidentialknowledge,rigorouslyimplementingthesigningofconfidentialitycommitmentlettersbyallemployees,strengtheningconfidentialityawareness,reinforcingconfidentialityresponsibilities,cultivatingconfidentialityhabits,andenhancingemployees'voluntaryadherencetoconfidentialityintheirdailyworkandbusinessactivities,ensuringstrictobservanceoflegalprovisionsandcompliancesystems.Thecompanysignificantlyinvestsinconstruction,enhancingitstechnologicalcapabilitytosafeguardinformationsecurity,fortifyingtechnicalmeanstoconstructacontrollabledataandnetworksecurityhardwareandsoftwaredefensesystem.Itemploysmeasuressuchasdataencryption,accesscontrolandauditlogging,identityauthentication,andaccesscontroltoensureclientinformationsecurity.Thecompanystrengthenssupervisionoverinformationsecurityandcybersecurity,ensuringtheeffectiveimplementationofclientinformationsecuritysafeguards.Annually,itundergoesthird-partyreviewand,inlinewithregulatoryrequirementsandinternalmanagementguidelines,conductsunscheduledspecialself-inspectionsofnetworkanddatasecurity.Theinspectioncontentprimarilyincludes:accessmanagement,dataclassificationandgrading,datasecurity,databackup,datadestruction,informationsecurity,andprivacyprotection.Duringthereportingperiod,noeventsinvolvingdatasecuritybreachesorclientprivacyleaksoccurred.
Thecompanyadherestoadual-trackapproach
of
"Technology+Mechanisms,"erectinganimpenetrablefirewallforinformationsecurity,rigorously
safeguarding
theinformationsecurityofclients,users,suppliers,andindustrychainpartners,andeliminatingthepossibility
of
informationorprivacyleaks.Ononehand,ithasestablishedasystemsecurityprotectionframeworkforinformationsystems,relyingonproprietarytechnologiestocontinuallydriveproduct,operationalsystem,andmanagementsystemsecurityupgrades,softwareupdates,andbycollaboratingwithrenownedinformation
security
companies,continuouslyenhancesthelevelof
information
securityprotection.Ontheotherhand,it
continually
refinesinternalmanagementmechanisms,
signing
'InformationSecurityConfidentialityAgreements'withrelevantpersonnel,andreinforcingthecultivation
of
employeeresponsibilityandprofessionalethics.
It
implementsmultiplemeasurestostrengthen
oversight,
safeguardinginformationsecurityandpreventingthedisclosureofclient,user,supplier,andindustrychainpartnerinformationandprivacytothirdparties.Intheeventofpotentialsecurityattacksorinternalviolations,oncedetected,theyareimmediatelyreportedto
law
enforcementauthorities.Noinformationleak
incidents
wererecordedduringthereportingperiod.
Intellectual Property ProtectionIntellectual property is one of the company's most critical assets. The company strictly abides by relevant laws andregulations, respecting the intellectual property rights of clients and suppliers. It has formulated the 'Regulations onIntellectual Property Management' to regulate its own IP management work, establishing a comprehensive intellectualproperty secrecy system and associated record management system, clearly defining aspects such as employeeconfidentiality, non-compete restrictions, confidentiality rewards and penalties, and archival management. The companyenters into 'Confidentiality Agreements' with employees, instituting constraints through formal procedures to prevent theleakage or loss of IP information. Furthermore, it conducts IP education and training for employees, engaging in IPawareness-raising campaigns, sharing experiences, and enhancing employees' understanding of IP protection. Concurrently,the company actively promotes IP protection within the industry, striving to foster self-regulatory norms and participating inthe formulation of industry standards to reinforce IP protection.
Information & Data SecurityInaccordancewithISO/IEC27001:2022,"Informationsecurity,cybersecurityandprivacyprotection—Informationsecuritymanagementsystems—Requirements,"thecompanycontinuouslyrefinesandoptimizesinformationsecurityandprivacyprotection-relatedmanagementsystems.Integratingthesemanagementrequirementsintoprimarybusinessprocesses,ithasestablishedacomprehensivecustomerdatasecuritymanagementsystem.Throughmultiplelayersofcustomerdataprivacyprotectionmechanisms,iteffectivelypreventsincidentsofdatainsecurityorleakageofcustomerprivacy.
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Employee Health and SafetyWillfarproactively addresses workplace safety by continuously enhancing safety awareness among its employees, particularly at the grassroots level. Thecompany invests in extensive safety training and skill enhancement to foster an environment where all employees are actively engaged in safety management.This commitment has led to the formation of a model team distinguished by its robust safety consciousness, strong operationalskills, and high efficiency. Willfarprioritizes the preemptive management of safety risks, achieving zero work-related fatalities and zero days lost due to workplace injuries over the past threeyears. Furthermore, no violations of health and safety regulations were recorded during the reporting period.Willfarhas established a staff assistance fund to support employees facing personal hardships and has also created an Innovation andEntrepreneurshipFund to encourage employees to engage in innovative and entrepreneurial activities. Additionally, the company provides complimentary accommodations andaccess to sports and recreational facilities, including a soccer field, basketball courts, badminton courts, a gym, and a library, all aimed at enhancing physicalhealth and providing relaxation opportunities outside of work. Willfarplaces a high emphasis on employee health, offering free annual health checks andstrengthening health management practices to ensure the well-being and safety of all staff. The company rigorously identifies and addresses potential hazards,conducts emergency drills, and promotes safety training and cultural activities, which have led to its recognition as an outstanding unit for safe production andfire safety in the Changsha High-Tech Zone.
In each of the past three years (including 2023), the number of work-related deaths was zero, the number of working days lost due to work-related injurieswas zero, and no violation of laws and regulations relating to workplace health and safety was found during the reporting period.
Equal and Legal Employment
The company adheres to equal and legal employment, protects the legal rights and interests of employees, eliminates discrimination due to religion,gender, age, marital status, disability, sexual orientation and other factors, and strictly protects employees' personal information and privacy. The companyintroduces a large number of excellent and highly educated talents every year. Our management team and core technology team include members of industryassociations and standardization committees, most of whom have been working with the company since its inception, with many years of IoT industrytechnology and management experience, so that the company's technology R&D and business strategies are in line with the direction of industry development.
Health Check-upRate
persons100%100%
812 | 100% |
Employee Growth and Development
Age structure of R&D staff
Employee composition
100% 100%
4,052 person-times632,400 yuan
588 times
210persons
349 persons
109persons79persons
11persons
25%
39-40
0persons3 times
4%
Investment inproduction safety
Productiontraining
Number ofemergency drills
Number ofparticipants inemergency drills
Number ofemployees in
2023
Percentage of
femaleemployees
Employeeturnover rate
Labor contract
signing rate
Social insurance
coverage rate
Trainingcoverage rate
Below30 years old
30-40 yearsold
40-50 years
old
50-60 years
old
Above 60years old
R&D trainingLogistics and warehousing training
Production trainingMaterial quality training
Production
Training
Health Record
Coverage
New Diagnosed
OccupationalDisease Cases
Online+Offline:Simultaneouslypromotingonlinetrainingandmicro-
Form of Training
courses,
establishingaLearningDaymodeltoencourageautonomouslearning
Combination
courses,
of internal and
externaltraining
InternalTraining:Providingrobusttalentandorganizationalsupportfor
businessdevelopmentthroughnewemployeetraining,high-,middle-,andjunior-level
managementcadretraining,specializedtrainingonessentialknowledgeandskillsfornewproducts
andservices,andregularhostingof博士InnovationBusinessScienceSalons.Additionally,
thecompanyplansandorganizescross-functionalprofessionalskilltrainingonaregular
basisandmonitorsinternalprofessionaltrainingwithineachdepartment.
ExternalTraining:FocusingonInnovationBusinessCloudLectures,
ComprehensiveAbilityEnhancementforInternationalTalent,andBusinessEnglish
ProficiencyImprovementTraining,encouragingfunctionallyreassignedpersonneltoundergo
externaltrainingtoadapttonewjobrequirements.Concurrently,thecompanyactivelyadvances
theLearningDayinitiative,incentivizingemployeestoengageinself-directedlearning.
EncouragingallBusinessDivisions/ResponsibilityCenterstofosteranatmosphereofuniversallearning
:
Formulatingconcretetrainingplans,applyingknowledgegainedtopractice,andcomprehensivelyenhancing
thebusinessmanagementandteammanagementabilities,aswellasindividualcapacities,ofthecompany'smid-to-senior
-levelmanagementcadres.
EmployeeWelfare&CaringMeasuresThecompanygenuinelysafeguardsemployeerights,providing,inadditiontothelegallymandated"FiveInsurancesandOneFund,"groupcommercialsupplementarymedicalinsurance,accidentalinjurymedicalinsuranceandaccidentalinjuryhospitalcashallowanceinsurance,amongotherprotections.Italsoattendstothedailylivingneedsofemployeesandtheirfamilies,distributinggratuityorgiftsduringfestiveseasons,offeringaricharrayofbenefitstoemployees.
WillfarInformationhasorganizedthe"HappySummerVacation"summercamp,guidingemployees'childrenonajourneyofjoy,knowledge,andfriendshipduringthesummerbreak,allowingthemtobroadentheirhorizons,gainknowledge,andhonetheirwillpowerthroughtravel.
Thecompany'sin-housecafeteriaoffersfreelunchesandovertimemealstoemployees,anditprovidesfully-equippedstaffapartmentsandshuttlebusescoveringmostofChangshaCity,facilitatingemployees'dailycommutes.
Thecompanyadvocatesforreasonableworkarrangements,providingemployeeswithvarioustypesofpaidleave.Withincreasedtenure,thenumberofdaysforcertaincategoriesofleavewillalsoincrease,anditorganizesadiverserangeofactivitiestoenrichemployees'lives.
Employee MotivationThecompanyhasestablishedafunctionalremunerationsystemthatcombinesjobresponsibilitieswithtargetresponsibilities,settingdifferentiatedsalarystructuresbasedonvaryingjobdutiesandfunctions.Ithasalsodevisedincentivepoliciesfordifferentlevelsandcategoriesofpositions.Upholdingtheprincipleofvaluecontribution,thecompanyregardsvaluecontributionasthecoreprincipleguidingremunerationdistribution,ensuringapropermatchbetweenemployeesandtheirroles,enablingthosewhocontributemoretoearnmore,therebyguaranteeingfairness,incentives,andcompetitivenessinthecompany'scompensation.Theaverageincomeperemployeehasbeensteadilyincreasingyearonyear.
Inaccordancewithrelevantnationallawsandregulations,andwithaviewtoachievingbusinessobjectives,consideringmarketcompetitionlevelsandincentiveeffects,thecompanyformulatescompensationmanagementandincentivemanagementschemes.Throughthepullofremunerationincentives,thecompanyfullymobilizestheenthusiasmofemployeesatalllevels,promotingmutualdevelopmentbetweentheenterpriseanditsemployees,culminatinginawin-winscenarioofsharedbenefits.Asoftheendof2023,thecompanyhadcumulativelyrepurchasedapproximately12.31millionsharesviatheShanghaiStockExchangetradingsystemthroughcentralizedbiddingtransactions,withatotalpaymentamountofapproximatelyRMB299millionyuan.Thesesharesareintendedforfutureuseinequityincentives,furtherenhancingthecompany'slong-termincentivemechanism.
Protection of Employee Rights and InterestsThecompanyconsistentlyadherestofair,just,andopenemploymentpolicies,rigorouslyenforcingthe'LaborContractLaw,'strengtheninglaborcontractmanagement,andsafeguardingemployees'legalrightsandinterests.Whileensuringthecompany'ssustainedandsteadydevelopment,itpaysattentiontoensuringreasonableincomegrowthforemployeesandactivelyprovidesthemwithvariouslevelsofjobtraining,professionalskilltraining,occupationalhealthtraining,andsafetytraining,ensuringboththephysicalandmentalwell-beingofemployeesandrealizingconcurrentgrowthinemployeeincomeandcorporateprofits.
Thecompanyemphasizestheprotectionoffemaleemployees'rights,conscientiouslyimplementinglawsandregulationssuchasthe'LawofthePeople'sRepublicofChinaontheProtectionofWomen'sRightsandInterests'andthe'SpecialProvisionsonLaborProtectionforFemaleEmployees.'Itstrictlyenforcesprovisionsregardingmaternityandbreastfeedingleaveforfemaleemployees,whileensuringequalpayandbenefitsforbothfemaleandmaleemployees,aswellasprovidingequalopportunitiesforcareerdevelopment.
Employee TrainingThecompanyprovidesemployeeswithanexcellentdevelopmentplatform.Tofullyharnessthetalentsofresearchanddevelopmentpersonnel,ithasspecificallyestablishedanEngineeringTechnologyResearchCenter,anAcademicianWorkstation,andaPostdoctoralResearchStation,amongothers,fosteringagoodenvironmentforgrowth.Additionally,thecompanyhasbuiltacomprehensivetrainingsystem,utilizingits"TalentProductionLine"tofocusonbothinternalcultivationandexternalrecruitment,conductingtieredandcategorizedtrainingforvariousemployeedevelopmentandskillenhancementprograms,constantlyinjectingfreshenergyintothecompany'ssmoothbusinessoperations.Basedonthecompany'sculture,long-termstrategicplanning,annualbusinessmanagement,andactualneedsforjob-specificandprofessionalskills,anannualtrainingplanisformulated,givingrisetoamulti-layered,categorized,diverse,results-oriented,anddynamictraininglandscapetailoredtothecompany'sdevelopmentandalignedwithemployees'growthtrajectories.
WillfarInformation has been recognized as a 'National Model Enterprise for the
Creation of Harmonious Labor Relations.'
41-42
Social Contribution of Main Business and Key Industry-specific IndicatorsInthedomainofdigitalgrids,thefusionofenergyrevolutionanddigitalrevolutionispropellinggriddigitaltransformation.Asnew-generationdigitaltechnologiessuchascloudcomputing,bigdataandtheInternetofThingsdeeplyintegrateandwidelyapplywithenergytechnologies,theemergingenergyecosystemcontinuallyraisesitslevelsofdigitization,networking,andintelligence.Thelarge-scale,high-proportiongridconnectionandconsumptionofnewenergysourcesonthegenerationside,coupledwiththeextensiveinterconnectionofinteractiveandmobilefacilitieslikedistributedenergyandelectricvehiclesontheconsumptionside,necessitatesacceleratedgriddigitaltransformationtofacilitatecoordinatedinteractionbetweenpowersources,grids,loads,andstorage,steeringthegridtowardsamoreintelligentandubiquitousenergyinternet.Cost-reductionandefficiency-enhancementstrategiesdrivethedevelopmentoftheenergydigitaleconomyasthegridacceleratesitsdigitaltransformation.AccordingtoNationalGridannouncements,whileelectricitypricesinChinapersistentlydecline,gridconstructionisintensifying,withultra-largegridsrankingamongtheworld'sbestinvoltagelevels,energyresourceallocationcapacity,andconnectedrenewableenergyscale,placingsignificantoperationalpressureonthesector.Internally,toachievereal-timesensing,visualization,andcontrolthroughouttheentiremanagementprocess,andexternallytomeetcustomers'increasinglydiversified,personalized,andinteractivedemands,relianceondigitaltechnologiestoenhancemanagementandservicelevelsiscrucial,therebyfosteringindustrialupgradingandunlockingtheenergydigitaleconomy.TheSouthernGrid14thFive-YearPlanforGridDevelopmenthighlightsthatSouthernGridhasprioritizeddistributiongridconstructioninits'14thFive-Year'agenda,earmarkinginvestmentstotaling320billionyuan,accountingforapproximately47.8%oftotalinvestment.Keyaspectsofdistributiongridconstructioninclude:
1)Continuouslystrengtheningurbandistributiongriddevelopment,ensuringthathigh-reliabilitydemonstrationzonesandpremiumpowersupply
pioneerareashaveanannualaverageoutagetimenotexceeding5minutes,reachinganinternationalleadingstandard,withdistributionself-healingachieving100%;
2)Consolidatingandupgradingruralgrids,enhancingdistributionnetworkintelligence.Large-scalerenovationandupgradingeffortswillbe
carriedoutonacounty-levelbasis.By2025,theannualaverageoutagetimeforall-networkcustomerswilldroptolessthan5hoursperhousehold,withdowntownareasreducingto0.5hoursperhousehold,urbanareasto2hoursperhouseholdandruralareasto7.5hoursperhousehold,maintainingadomesticleadingposition.
AccordingtoaStateGridannouncement,theStateGridcontinuestosignificantlyincreaseinvestmentindistributiongrids,buildingadomesticallyandinternationallyleadingenergyinternetenterprisewithChinesecharacteristics.Amidstpersistentgrowthinelectricityload,flexibleintegrationofnewenergy,distributedpowersources,andelectricvehicles,alongwithstrengtheneddemandfordiverseelectricityusagefromconsumers,StateGridandSouthernGridareexpectedtosustainablyaugmentinvestmentindistributiongrids.WillfarInformation,rootedinthegridindustryanddeeplyengagedingriddigitalizationandinformatization,revolvesaroundenergyflowanddataflow.Thecompanyutilizesself-developedcommunicationchipsandmodulesfordatatransmission,followedbyself-developedgatewaydevicesfordatainteraction,deliveringacomprehensiveenergymanagementsolutionencompassingbothsoftwareandhardware.InresponsetotheemphasisinStateGridandSouthernGrid's'14thFive-Year'workprioritiesonreducingoutagetimesandloweringlinelosses,thecompanyhasspecificallydevelopedfaultlocationschemesandlinelossanalysisschemes.Theseenablereal-timemonitoringandpreciselocalizationofpoweroutagesacrosstransformer-station-line-box-consumerlevels,aswellasmulti-levellinelossanalysisfromsubstationtobranchbox,branchboxtometerbox,andmeterboxtohouseholdmeter,supportingintelligentanti-theftdiagnosis.Thiseffectivelyfacilitatesproactivesensing,judgment,andrepair,ensuringpreciseandswiftfaultrepairservicesandrapidpowerrestoration,alongsiderapidvalidationofcomparisonanalysisresultsagainston-siteelectricalabnormalities,enablingefficientandpreciseinvestigationofuserelectricitytheftbehavior.PilotprojectshavealreadybeensuccessfullyimplementedinprovinceslikeAnhuiandGuizhou,effectivelyreducingdistributiongridlinelossesandtherebycontributingtocarbonemissionreductionsinthesegrids.
Types and Contributions of Philanthropic and Charitable Activities
WillfarInformationactivelyassumestheresponsibilitiesandcommitmentsofanationalenterprise,fosteringtheconceptofa"Public-WelfareOrientedWillfar."Thecompanyhasassembledavolunteerteam,activelyengagingincharitableendeavorssuchasdonations,educationalsponsorships,andvisitationandconsolationactivities.TheyhaveventuredtoXiluoTownandGuitangTowninLongshanCountytoparticipateinruralrevitalizationefforts,extendingcondolencestostrugglinghouseholdsandstudents.Demonstratingthehighsenseofresponsibilityandcontributionofasocially-orientedenterprise,thecompanystrivestocreatevalueforsociety.Thecompanyadherestoleveragingtechnologicalandinformationalmeanstofacilitateruralrevitalization.Ruralareasserveasthefrontlinesofthisrevitalizationeffort,whereaveragehouseholdincomesarerelativelylow;energyconservationcaneffectivelyreducehouseholdexpenses,enhancingdisposableincomelevels.Asurbanizationratescontinuetoclimb,issuessuchasheavygridloadsandweakruralpowerinfrastructuregraduallysurface.Toaddressthesechallengesfacedbyruralareas,thecompanyhasdevelopedandlaunchedaSmartEnergySolutionforRuralHouseholds.Bymonitoringdigitalinformationsuchaselectricityload,safety,appliancetypesandconditions,chargingpiles,andhouseholddistributedphotovoltaicsystemsinnewruralhouseholds,thesolutionenablesanalysis,diagnosis,andcontrolofelectricalequipment.Itcanprovidedigitalvalue-addedservicestoruralhouseholdsandentirevillages,includingenergyconsumptionanalysis,energy-savingdiagnosis,loadregulation,electricalsafety,andappliancemalfunctionwarnings,realizingintelligentenergyuseforruralhouseholdsandvillages,renderingruralhouseholdenergyobservable,measurable,controllable,andadjustable.
TheOrganizationDepartmentofHunanXiangjiangNewArealedWillfarInformationTechnologyCo.,Ltd.,amongotherkeyenterprisesinthearea,toXiluoTownandGuitangTowninLongshanCountytocarryoutruralrevitalizationwork,consolingstrugglinghouseholdsandstudents.Duringthisevent,theTwoNewCommitteesundertheOrganizationDepartmentoftheNewDistrictorganizedvariousenterprisestodonatefunds,adoptingacombinedapproachof"multiple-to-multiple"concentratedassistanceand"one-to-one"decentralizedassistance,aimedatprovidingaidandcomforttostrugglinghouseholdsandstudentsinGuitangTownandXiluoTown,maximizingtheeffectivenessofpovertyalleviationandeducationalsupport.LeadersfromtheNewDistrict'sOrganizationDepartmentandkeyenterprisesalsopersonallyvisitedfourstrugglinghouseholds,presentingthemwithpovertyrelieffundsandsupplies,encouragingthemtoovercomedifficultiesandstriveforself-relianceandself-improvement.In the Willfar Information's exhibition hallThey saw a myriad of chips and water metersThey gained a vague understanding of their parents' workGot to know more industry knowledgeMarveling at the vibrant growth of technology
Children entered Willfar Information's workshopWitnessing scenes of automation and intelligenceUnderstanding the essence of intelligent
manufacturingKnowing that science and technology are the first
productive forcesIn their young hearts, a new dream takes root
Social Contributions & Philanthropy
43-44
Shandong Province Higher Education Energy Management Training Conference Successfully
Held at WillfarInformationFromMarch22ndto25th,theShandongProvinceHigherEducationEnergyManagementTrainingConference,organizedbytheEnergyManagementBranchoftheShandongSchoolLogisticsAssociationandhostedbyWillfarInformation,tookplaceattheWillfarScienceandTechnologyPark.Over150representativesfromvariousuniversitiesinShandong,theShandongSchoolLogisticsAssociation,governmentbodies,andenterprisesattendedtheconference.Duringtheevent,expertsfromuniversitiesandseniorexecutivesfromWillfarInformationengagedinin-depthdialoguesandinteractiveexchangesthroughaseriesofthemedlectures,focusingontopicssuchasgreenandlow-carbonpoliciesandtheestablishmentofuniversityenergysystems,significantlyenhancingmutuallearningandreferenceinthedomainsofsmartcampusconstructionandeducationallogisticsservices.
Launch Meeting Held for a CEC GroupStandard Mainly Developed by Willfar
InformationInearlyAugust2023,theLaunchMeetingfortheCompilationof2023GroupStandard,organizedbytheElectricIntegratedCircuitStandardizationTechnicalCommitteeoftheChinaElectricityCouncilandhostedbyWillfarInformationTechnologyCo.,Ltd.,withthesupportofBeijingZhixinMicroelectronicsTechnologyCo.,Ltd.,wasconvenedattheWillfarScienceandTechnologyPark.ThismeetingmarkedtheofficialcommencementofthecompilationofagroupstandardledbyWillfarInformation.'TechnicalRequirementsforIntegratedModulesUsedinLow-voltageSemiconductorCircuitBreakers',agroupstandardspearheadedbyWillfarInformation,pioneersthestandardizationprocessforcorefunctionalcomponentsinlow-voltagesemiconductorcircuitbreakers,indicatingnewbreakthroughsanddirectionsinWillfarInformation'sR&Deffortsinthecoremodulesectoroflow-voltagesemiconductorcircuitbreakersforthepowerindustry.
Hunan Province New Power System Development Joint Research Center
EstablishedWillfar Information Supports Key Technology R&DInearlySeptember2023,theLaunchMeetingfortheConstructionoftheNewPowerSysteminHunanProvinceandtheEstablishmentoftheHunanProvinceNewPowerSystemDevelopmentJointResearchCenterwasheldinChangsha.Asamemberofthejointresearchcenter,WillfarInformation'sPresident,LiXianhuai,wasinvitedtoattendthemeeting.Asaparticipatingorganization,WillfarInformationassignedexpertstoserveontheExpertCommittee,specificallyengaginginresearchtaskswithinfiveresearchsub-centers:cleanandefficientcoalutilization,smarthydropower,loadaggregation(virtualpowerplants),newenergyequipment,anddigitalenergy.
National Key Research and DevelopmentProject with the Participation of Willfar
Information Passes InspectionTheKeyNationalResearch&DevelopmentProgramProject-"KeyTechnologiesforDigitalGrids"hassmoothlypassedinspectionorganizedbyChina'sMinistryofIndustryandInformationTechnology.LedbytheDigitalGridResearchInstituteCo.,Ltd.ofChinaSouthernPowerGridCompany,theprojectwasjointlyundertakenbymultiplein-gridenterprisesandrenowneddomesticuniversities.WillfarInformation,asthesoleindustrialentity,deeplyparticipatedinthestudyofcriticalprojecttopics,successfullycompletingthedevelopmentof"CoreChipsforEdgeComputing"and"EdgeComputingDevicesBasedonMulti-serviceCoordination"asperprojectplans.Theoutcomesofthesetopicswereevaluatedbyanauthoritativeexpertpanelasbeinginternationallyadvanced.
Industry Collaboration & Shared Development
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OnDecember12,the"Sino-SaudiInvestmentConference"washeldinBeijing.ViceMinisterofCommerceofChina,LiFei,deliveredaspeech,andSaudiArabia'sMinisterofInvestment,KhalidAl-Falih,gaveapresentation.LiHong,ChairwomenofWillfarInformation,attendedtheopeningceremonyandparticipatedintheconference.SeveralArabcountrieshaveconcurrentlyformulatedlong-termdevelopmentstrategiesthatalignwiththeBeltandRoadInitiative,reflectingashareddesireformutualdevelopmentbetweenChinaandArabnations,whichpresentsnumerousopportunitiesforfutureeconomicandinvestmentcooperationbetweenthetwosides.Inthefuture,WillfarInformationwillactivelyrespondtotheBeltandRoadInitiative,proactivelyparticipatingintheconstructionofnewenergysystemsandsmartmanagementinSaudiArabiaandthebroaderArabregion,contributingtothedigitalandintelligenttransformationofcitiesintheregion.
The2024AmericanTransmission&DistributionandPublicUtilityExhibition(DISTRIBUTECHInternational2024)wasgrandlyheldattheOrangeCountyConventionCenterinOrlando,USA,fromFebruary27to29,attractingnearly17,000professionalvisitorsandover500globallyleadingexhibitingcompanies.AtDistribuTECH2024,WillfarInformationshowcaseditssolutionsforpowerAMI&energyIoT,intelligentdistributionnetworks,andwater&gasAMI,demonstratingthelatestachievementsandtechnologiesinChina'senergyIoTindustry,aswellasthevisionandcomprehensivestrengthofChineseenterprises.Thecompanyalsosoughttoestablishconnectionsandcollaborationswithprofessionalsandclientsfromaroundtheworld.
InMarch2023,the"EmpoweringEnterpriseswithIntelligence:EnteringSupercomputing"collaborationmeetingwasheldattheNationalSupercomputingCenterinChangsha,attractingover160companiesfromvariousindustries.LiXianhuai,PresidentofWillfarInformation,representedthecompanyinsigningastrategicpartnershipagreementwiththesupercomputingcenteronsite.ThiscollaborationwillleverageWillfarInformation'sstrengthsinhigh-performancecomputing,bigdata,informationsecurity,andartificialintelligence,providingthenecessarycomputationalpowersupportandalgorithmicresearchforthesupercomputingcenter'sdigitaltransformation,enterprisesmartbrain,bigdataintelligenceplatform,anddigitaltwinplatformconstruction.
OnJuly11,the2023CouncilMeetingoftheInnovativeAllianceforNewPowerSystemswasheldinBeijing.ThemeetingthoroughlyimplementedtheimportantspeechesandinstructionsofPresidentXiJinping.LiHong,ChairwomenofWillfarInformation,attendedasacouncilmemberofthealliance,gaininganin-depthunderstandingofthenationalgoalsandplansfortheconstructionofanewpowersystem.Thecompanywillcontinuetoadheretoinnovation-drivendevelopment,contributingtotheconstructionofChina'sdigitalgridandfacilitatingthedigitaltransformationofnewpowersystems.
WillfarInformation Invited to Attend 2023Council Meeting of Innovative Alliance for New
Power Systems
"Empowering Enterprises with Intelligence: Entering
Supercomputing" Collaboration Meeting HeldWillfarInformation Forms Strategic Partnership with
Supercomputing Center
WillfarInformation Participates in the 2024American Transmission & Distribution and
Public Utility Exhibition
WillfarInformation Invited to Attend Sino-Saudi
Investment Conference
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FromNovember15thto17th,the2ndNationalWaterSavingIndustryInnovation&DevelopmentConferencewasheldatShenzhenWorldExhibition&ConventionCenter(NewBao'anPavilion).Concurrently,the2ndNationalWaterSavingIndustryInnovation&DevelopmentAchievementsExhibitiontookplace,withWINMETEREnergy,asubsidiaryofWillfarInformation,participating.WINMETEREnergyshowcasedindustry-leadingproductsandwater-savingsolutions,includingintelligentwatermanagementsolutions,urban-ruralintegratedwatersupplysolutions,modularwatermeters,andultrasonicwatermeters,demonstratingWillfarInformation'scontinuousdedicationandR&Dstrengthinthesmartwatersector.
FromNovember14thto16th,WillfarInformationwasinvitedtothe16thAsianPower&EnergyExhibitionheldinJakarta,Indonesia.Theeventattractedover12,000professionalsfrom50countriesworldwide,70powercompanies,and300enterprises.Byattendingthe16thAsianPower&EnergyExhibition,WillfarInformationdemonstratedthevisionandcomprehensivestrengthofaChineseenterprise,fosteringcloseconnectionsandcollaborationswithglobalindustryleaders,professionals,andclientstocollectivelybuildabrighterfuture.
OnNovember15th,themed"InnovationDrivesHigh-QualityDevelopmentoftheElectricPowerIndustry,"the31stShanghaiInternationalElectricPowerEquipment&TechnologyExhibitionwasheldinShanghai,co-organizedbytheChinaElectricityCouncilandStateGridCorporationofChina.WillfarInformationwasinvitedtoparticipate,bringingadiversifiedarrayofsolutions.PresidentLiXianhuaiattendedtheopeningceremonyandpresentedakeynotespeech,sharingthecompany'sexperienceandcasestudiesinutilizinginformationtechnologytofacilitatetheconstructionofanewpowersystem.
OnNovember28thlocaltime,the24thEuropeanPower&EnergyExhibitionopenedgrandlyinParis,France.AsaleadingenterpriseintheEnergyInternetofThings(IoT),WillfarInformationwasinvitedtoattend,showcasingitslatesttechnologiesandinnovativeachievementsinthedigitalgriddomaincomprehensively.
WINMETER EnergyInvited to Attend the 2ndNational Water Saving Industry Innovation &
Development Achievements ExhibitionWillfarInformation Invited to Attend the 24thEuropean Power & Energy Exhibition
WillfarInformation Attends the 31st ShanghaiInternational Electric Power Equipment &
Technology Exhibition
WillfarInformation Participates in the 16thAsian Power & Energy Exhibition
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Withthethemeof"StimulatingNew-qualityProductivity,LeadingHigh-qualityDevelopment,"the2023ChinaListedCompanyEntrepreneursAnnualMeetingwasheldinShenzhenonNovember10th,aneventorganizedbytheChinaAssociationforPublicCompanies,guidedbytheShenzhenMunicipalGovernment,supportedbytheShenzhenStockExchange,andco-hostedbytheShenzhenMunicipalBureauofLocalFinancialSupervisionandAdministrationandtheFutianDistrictPeople'sGovernment.ChairwomenLiHongofWillfarInformationwasinvitedtoattendandparticipatedinthe"FemaleEntrepreneurs'SharingForum"withinthecontextofinnovation,deliveringaninsightfulpresentation.Furthermore,duetoitspersistenteffortsandoutstandingperformanceinhigh-qualitydevelopment,WillfarInformationdistinguisheditselfamongover5,000A-sharelistedcompanies,earningrecognitionasa"2023BoardofDirectorsExcellentPracticeCase."
The"2023(8th)High-QualityWaterSupplyDevelopmentForum,"jointlyhostedbyE20EnvironmentPlatform·WaterSupplyServicePromotionAllianceandChangshaWaterGroup,openedinChangsha.WINMETEREnergy,asubsidiaryofWillfarInformation,wasinvitedtoattend.TopicsattheforumencompassedopportunitiesandchallengesforthewatersupplyindustryunderthewaveofChinese-stylemodernization,newmeasuresforwatersupplysecurity,innovationinfine-tunedcorporateoperationandmanagement,advancedandvalue-addedwatersupplyservices,andmore,collectivelyexploringthefutureoftheindustryandinterpreting"NewWaterSupplyunderChinese-styleModernization."
OnOctober20th,the24thEastAsiaandWesternPacificPowerIndustryAssociationConferencewasheldinXiamen,FujianProvince,withVicePresidentHanZhengattendingtheopeningceremonyanddeliveringaspeech.Duringtheconference,PresidentLiXianhuaiandVicePresidentFanLvofWillfarInformationaccompaniedvisitorsatthebooth,introducingthecompany'soverviewandoverallsolutionsinintelligentgridsanddigitalcities,extensivelydetailingthedigitalizeddistributionandutilizationsolutions,internationalenergyAMIsystems,virtualpowerplant/micro-gridsolutions,andIoTfiremonitoringsolutions.
The5thGuangdong-HongKong-MacaoGreaterBayAreaWaterResourcesForum,themed"GatheringWaterWisdom,CreatingaGreenandBeautifulBayArea,"officiallykickedoffinDongguan.WINMETEREnergy,asubsidiaryofWillfarInformation,wasinvitedtoparticipate.HavingbeeninvitedmultipletimestotheGreaterBayAreaWaterResourcesForum,WINMETEREnergyreceivedanexclusiveinterviewduringtheeventfromtheorganizer'sofficialmediapartner,TencentNews.Thecompanyaimstofurtherstrengthenitstieswithvariouswaterresourceunitsinthebayareathroughthisgathering,contributingmoresignificantlytotheregion'ssmartwaterinfrastructuredevelopment.
WillfarInformation Attends the 2023 China ListedCompany Entrepreneurs Annual Meeting
WINMETER Energy Invited to Attend the 5thGuangdong-Hong Kong-Macao Greater Bay Area
Water Resources Forum
WINMETER EnergyInvited to the 2023 High-
Quality Water Supply Development ForumWillfarInformation Attends the 24th APPEA
Conference
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Digitally Empowered Energy Creates the Future | WillfarInformation
Participates in the 2023 International Digital Energy ExhibitionDigitallyempowered,energycreatesthefuture.The2023InternationalDigitalEnergyExhibitionwasheldatShenzhenConvention&ExhibitionCenter(Futian)fromJune29thtoJuly2nd,withWillfarInformationshowcasingnumeroussolutions.Theexhibitionfeaturedaprofessional"5+1+1"format,withWillfarInformation,asaleadingEnergyIoTsolutionsprovider,presentingnewtechnologies,products,models,andformatsarounddigitalsmartgridsandsmartcities.Throughtheseexchanges,thecompanyhopestofosterindustryconsensus,promotestandardizationandcoordinationofdigitalenergyonaglobalscale,andstimulateregionalenergycooperationandmutualbenefits.
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The 4th Green Expo Opens and WillfarInformation Receives "NationalGreen Factory" Award, Boosting Green Development in Hunan
OnJuly28th,the4thHunanInternationalGreenDevelopmentExpoopenedinChangsha.PresidentLiXianhuaiofWillfarInformationattendedandparticipatedintheconference.TheeventfeaturedanawardceremonyforenterprisesreceivingthetitleofNationalGreenFactoryin2022,withWillfarInformationbeinghonoredwiththe"NationalGreenFactory"award.ThisrecognitionfullydemonstratesWillfarInformation'sroleasaleaderincontinuouslybuildingadvancedgreenmanufacturingenterprises,drivingthegreenindustrialtransformationwithintheindustry,acceleratingtheestablishmentofgreenmanufacturingsystems,andpromotinghigh-qualityindustrydevelopment.
WillfarInformation Invited to Attend the 5thWest Africa (Nigeria) International Water Expo
2023
The5thWestAfrica(Nigeria)InternationalWaterExpo2023wasgrandlyheldatLandmarkCentreinLagos,Nigeria,fromJuly11thto13th,withWillfarInformation,aleadingproviderofEnergyIoTsolutions,beinginvitedtoparticipate.Asaprofessionalwatertreatmentexhibition,theWestAfricaNigeriaInternationalWaterandWastewaterExhibitionoffersWillfarInformationcomprehensiveinformationandtradeopportunitiestoaccesstheAfricanmarket,enhancingthecompany'svisibility.
China-Africa Economic & Trade Expo OpensWillfarInformation Supports Sustainable New
Energy Development in AfricaOnthemorningofJune29th,theThirdChina-AfricaEconomic&TradeExpoandChina-AfricaEconomic&TradeCooperationForumopenedattheHunanInternationalConventionandExhibitionCenterinChangsha.ChairwomenLiHongofWillfarInformationattendedtheopeningceremony.Chineseenterprises'operationsontheAfricancontinentrepresenta"two-waypursuit,"withWillfarInformation'sproductsandservicesaimedatimprovinglocalinfrastructurewhilealsocontributingtothesocio-economicprogressofAfricannations.
OnJune11th,the10thChina-ArabStatesBusinessmenConferenceandthe8thInvestmentSeminarwereheldattheKingAbdulazizInternationalConferenceCenterinRiyadh,thecapitalofSaudiArabia.ChairwomenLiHong,VicePresidentZhangZhenhua,andVicePresidentZhongXiuyuofWillfarInformationattendedtheopeningceremonyandparticipatedintheconference.Duringtheevent,WillfarInformationsignedastrategicmemorandumofunderstandingwiththeSaudiInvestmentMinistry(MISA)andtheSaudiNTCCGroup.LiHong,ZhangZhenhuaandZhongXiuyualsometwiththeRoyalCommissionforJubailandYanbu.
The2023PhilippinesIoTCongresswasgrandlyheldattheWorldTradeCenterinPasayCity,MetroManila,Philippines,fromJune26thto28th.WillfarInformation,asaleadingEnergyIoTsolutionsprovider,wasinvitedtoparticipate.Attheexhibition,WillfarInformationshowcasedthelatestachievementsandtechnologiesofChina'sEnergyIoTindustry,demonstratingthevisionandcomprehensivestrengthofChineseenterprises,establishingconnectionsandcollaborationswithprofessionalsandclientsworldwide,andenvisioningabrightfuturetogether.
OnMarch22ndand23rd,the2023BoaoNewPowerSystemInternationalForumwasheldinBoao,Hainan.Focusedon"Openness,Cooperation,Sharing,PromotingGreenandLow-CarbonEnergyDevelopment,"theforumexploredpathwaysforthedevelopmentofnewpowersystems.VicePresidentFanLvandCommunication&ChipBusinessGroupPresidentXiaoLinsongofWillfarInformationwereinvitedtoattendtheforum.
OnMarch28th,the"2023ChinaInternationalCleanEnergyExpo,"jointlyorganizedbytheChinaElectricityCouncil,StateEnergyInvestmentGroupCo.,Ltd.,ChinaChamberofCommerceforImport&ExportofMachineryandElectronicProducts,ChinaIndustrialOverseasDevelopment&PlanningAssociation,andChinaPhotovoltaicIndustryAssociation,amongothers,openedinBeijing.WillfarInformation,asaleadingEnergyIoTsolutionsprovider,madeastunningappearance.
WillfarInformation Signs StrategicMemorandum of Understanding with Saudi
Investment Ministry on the First Day ofChina-Arab States Cooperation Forum
WillfarInformation Attends the2023 BoaoNew Power SystemInternational ForumWillfarInformation Participates in the 2023 China
International Clean Energy ExpoWillfarInformation Invited to Attend the 2023
Philippines IoT Congress
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The Company's SustainableDevelopment Strategy
Corporate Governance &Sustainable Social Value
Enhancing Equality, Efficiency &Returns
4.1 Discussion & Analysis on the
Company's Future Development
4.6 Operation of the General Meeting of
Shareholders, Board of Directors andSupervisory Board
4.11FocusingonValueCreation
4. Governance Section
for
ContinuousSubstantialReturnstoInvestors
4.2 Party and Mass Organization Building
4.7 Disclosure of Information
4.12 Harmonizing Interests: Building a Win-
Win Relationship between Management &Shareholders
4.3 Communication with Stakeholders
4.8 Investor Relations Management
4.4 Sustainable Development Strategy
4.9 Business Ethics
4.5 Sustainability Indicators
4.10 Compliance Training
"Digital Economy" Drives Comprehensive Development of
Smart Cities
The14thFive-YearPlanproposesthattheaddedvalueofthecoreindustriesofthedigitaleconomyaccountfor10%ofGDPby2025.Smartcitiesprovideacontinuallygrowingapplicationscenarioforthedevelopmentofthedigitaleconomy,withpromisingprospectsinareassuchassmartwaterservices,smartgas,smartfirefighting,integratedenergyforsmartparks,andmore,usheringinaneraofrobustsmartcityconstruction.TheStateCouncilrequiresthatby2025,thenationwidepublicwatersupplynetworkleakageratebecontrolledat9%orlower.TheOutlinefortheConstructionoftheNationalWaterNetworkexplicitlycallsforpromotingthehigh-qualitydevelopmentofChina'swaternetworkthroughmeanslike"acceleratingintelligentdevelopment."Accordingtoforward-lookingindustryresearchinstitutions,themarketspaceforthecombinationofsmartwaterplatforms,intelligentwatertreatmentequipment,andpipelinerenovationequipmentexceeds300billionyuan.
In2023,Chinacompletedinvestmentofnearly1.2trillionyuaninwaterconservancyconstruction,settinganewhistoricalhighwithayear-on-yeargrowthof10.1%.In2024,thenationalwaternetworkconstructionwillbecomprehensivelyadvanced,prioritizingthecoordinateddevelopmentofurbanandruralwatersupplyintegration,large-scalecentralizedwatersupply,andthestandardizedconstructionofsmall-scalewatersupplyprojectstailoredtolocalconditions.Effortswillbeintensifiedtoconstructadigitaltwinwaternetwork,advancethedigitaltransformationofthefirstbatchofkeynodesinthenationalwaternetwork,renovateandupgrademorethan1,000mediumandlarge-scaleirrigationdistricts,andcoordinatetheconstructionofmainirrigationdistrictfacilitieswithhigh-standardfarmland.
Withthenation'scontinuedpushforsmartcityconstruction,smartfirefighting,asanintegralpartofit,willseesustainedgrowthinmarketdemand.Meanwhile,energyefficiencyimprovementsdriveincreaseddemandforcomprehensiveenergyservices.Accordingtoaforward-lookingindustryresearchinstitution,theChineseindustrialenergyefficiencyservicemarketisexpectedtoreachnearly100billionyuanby2025,whilethefirefightingmarketwillapproach120billionyuan,indicatingvastmarketpotential.
Additionally,themarketsforsmartgas,smartheating,smartmanholecovers,andsmartstreetlightsexceed600billionyuan.Intherealmofintegratedenergymanagement,smartparks,comprehensiveenergyandenergyefficiencymonitoring,andintelligentchargingwillgenerateamarketsurpassing400billionyuan,constitutingnewsourcesofgrowth.
Lookingahead,wewillcenteroureffortsonthegreendual-carbonmissionofsmartcities,aswellastheintelligentsecurityimperative,servingtheglobalcommercialsector'sdigitaltransformationandtheintelligentmanagementofhouseholdenergy.
Riding the Wind of the Belt and Road Initiative,Unleashing the Blue Ocean of Energy IoT
Accordingtostatisticsfromrelevantinstitutions,in2022,theprimarySoutheastAsiancountries(Indonesia,Vietnam,Singapore,Malaysia,andThailand)sawanelectricityconsumptiongrowthrateof+5.4%,leadingChinaandtheUnitedStatesbyapproximately2percentagepointsandsignificantlyexceedingEurope.Inthesameyear,electricityinvestmentgrowthindevelopingcountriesoutsideChinawasonly7%,laggingfarbehindthe14%growthinChinaanddevelopedeconomies.Againstthebackdropofsurgingelectricitydemandandsluggishinvestment,SoutheastAsiannationsurgentlyneedtoacceleratetheirpaceofnewinvestmentstosupporttheirrapidlygrowingpowerneeds.TheIEAestimatesthatthegrowthrateofpowerinvestments(includingpowergeneration)mustreach30%tomeettheirenergytransitionconstructionplans.Specifically,averageannualgridinvestmentsinSoutheastAsiaareexpectedtoreach$30billionbetween2026and2030,withgridinvestmentsincreasingthreefoldoveradecade,reflectingrobustdemand.
Overthepastdecade,Chinahassignedover200cooperationdocumentsonjointlybuildingtheBeltandRoadInitiativewith152countriesand32internationalorganizations,fosteringhigh-qualityBeltandRoadcooperationthatpromotesindustrialstructureupgradingandenhancesindustrialization,digitalization,andinformatizationinparticipatingcountries.Asthesecountriesundergoindustrialrestructuringandacceleratedurbanization,therewillbeastrongdemandforenergyIoT.
Currently,theestimatedtotalinvestmentacrosseconomiesalongtheBeltandRoadstandsatapproximatelyUSD575billion,encompassing70countriesalongtheroute.Sector-wise,energyandpowerrepresentthelargestinvestmentareawithintheBeltandRoadstrategy,withanestimatedinvestmentofaroundUSD264.5billion,accountingfor46%oftheoveralltotal.
TheBeltandRoadInitiativespansover60%oftheworld'spopulation(exceeding4billion)andischaracterizedbysignificantinfrastructureinvestmentneedsandunderdevelopedlocalindustries.ItservesastheprimaryfocusforChina'soverseaspowerinvestmentsandwaterprojectconstruction.AsiaandAfricaaretheprincipalprojectregionswithinthiscontext,withBeltandRoadprojectsinthesecontinentsaccountingforaremarkable89.2%ofthetotalinvestmentamountacrossthemorethan140countrieswhereinitiativeshavebeenlaunchedglobally.
Movingforward,wewillcontinuetoadvanceproductinternationalization,leveragingourcomprehensivesolutioncapabilitiesinsensing,communication,andsystemintegration,providingcomprehensivetechnicalandoperationalservicestotheglobalmarket.
The "Dual Carbon" Strategy Spurs AcceleratedTransformation and Upgrading of the New Power System
Thereporttothe20thCPCNationalCongressputforwardthenotionof"activelyyetprudentlyadvancingcarbonpeakingandcarbonneutrality.BasedonChina'senergyandresourceendowments,wewilladheretoaprincipleoffirstestablishingbeforedismantling,implementingcarbonpeakingactionsinaplannedandphasedmanner,"andexplicitlystatedtheintentionto"accelerateplanningandconstructionofanewenergysystem"and"strengthenthesystemforenergyproduction,supply,storage,andmarketing,ensuringenergysecurity."
Achievingthegoalsof"carbonpeaking"and"carbonneutrality"willreshapeChina'sfuturemodesofproductionandliving,exertingfar-reachingimpactsonsocioeconomicdevelopment.Anenergysystemdominatedbyelectricitywillunderpinthetransformationandupgradingofindustrialeconomiesandthesteadilyimprovinglivingstandardsofthepeople.Simultaneously,underthetrendofgreenandlow-carbondevelopment,newlow-carbontechnologies,particularlydeepde-carbonization,zero-carbon,efficientpowerusage,renewableenergygeneration,andvirtualpowerplanttechnologies,arebecomingtheforefrontoffuturetechnologyandnewcompetitivefocalpoints.
Toaccomplishthe"dualcarbon"objectives,energyisthe"mainbattlefield,"andelectricityisthe"principalforce."Inthepowersector,whichaccountsforthelargestshareofcarbonemissions,promotingcleanenergyonthesupplysideandboostingelectrificationratesonthedemandsideareimperative.
Theconstructionofthenewpowersystemisaccelerating,necessitatingtheadvancementofgriddigitalizationandintelligenttransformation,promotionofPowerIoT,EnergyIoT,andsmartdistributiongridconstruction,enhancementofsource-grid-load-storagecoordinationandinteractioncapabilities,andcontinuousimprovementofrelatedtechnologicaliterationsandproductdemands.
Inthefuture,wewillsteadfastlydrivethedigitaltransformationandintelligentupgradingofthepowergrid,andpromoteChina'sadvanceddigitalgridsolutionsglobally,contributingourstrengthtotheglobalpursuitofcleanandefficientenergyutilization.
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Discussion&Analysisonthe
Company'sFutureDevelopment
On July 25, 2023, the Party Committee organizeda themed Party lecture for all Party members,titled "Striving as a New Era Idealist, DedicatedProfessional, Exceptional Talent, and Contributorto the Centennial Dream of Willfar."
InearlyJuly2023,theWillfarPartyCommitteeheldits
generalassemblyoftheyear,guidingallPartymembersin
studying |
Partyhistory,reinforcingfaithinPartyleadership,enhancing
senseofmissionandresponsibility,aligningwithnational
strategies, |
andcontributingtosocietalprogress.
OnAugust16,2023,theDigitalSmartCityBranchoftheWillfarPartyCommitteeconductedathemedParty
dayevent,"RemainingTruetoOurOriginalAspirations:AnsweringaHundredQuestions,AdvancingResolutelyon
MountLu."Theeventintertwinedintellectualandideologicallearningandexchange,furtherconsolidatingunityand
cohesionamongbranchPartymembers.
WillfarInformationTechnologyCo.,Ltd.steadfastlyadherestotheleadershipoftheCommunistPartyofChina(CPC)and,undertheguidanceofthehigher-levelPartyCommittee,establishedtheWillfar’sPartyCommitteein2022.Thecommitteeoverseesfivebranchesandcurrentlycomprises118Partymembers,including5probationarymembers.Animpressive75.69%holdundergraduatedegreesorhigher,formingahighly-educated,high-caliber,high-standard,andrigorously-disciplinedvanguardforce.OurPartybranchesadheretothecoretenetofintegratingPartybuildingintobusinessoperations,emphasizingtheParty'sroleinguidingthecompany'shigh-qualitydevelopment,andreciprocallyreinforcingPartybuildingthroughthisgrowth.TheyalignPartyactivitieswithemployeecareeradvancement,establishingdistinctivemodelPartymemberposts,dedicatingthemselvestoemployeesupport,andtakingtheleadinsocialwelfareinitiatives.In2022,thePartyCommitteeconvenedsixplenarysessions,organizedeightParty-buildingevents,andhostedfivevisitsforPartyandmassorganizationbuilding.
TheWillfarPartyCommitteeencompassesfivebranches,withatotalof118Partymembers,including89directly-managedmembersand29floatingmembers.Amongthem75.69%holdabachelor’sorabove,formingahighly-educated,highly-skilledandwell-self-disciplinedvanguardteam.
Party and Mass Organization Building
The Willfar Party Committee
61-62
63-64
Incorporation of Sustainable Development Principles into CorporateCultureThecompanyhasseamlesslyintegratedESGpracticesintoitsdailyoperations,embeddingsustainabilityintothecompany'stop-leveldesign.Thecompanyhasestablisheda"BoardofDirectorsStrategy&ESGCommittee,"whichisresponsibleforoverseeingandmanagingthecompany'ssustainability-relatedmatters,aswellasenvironmental,social,andcorporategovernance(ESG)issues.Underthis"BoardofDirectorsStrategy&ESGCommittee,"a"SustainableDevelopmentESGWorkingGroup"hasbeensetuptoleadandmanageESG-relatedwork,organizingandcoordinatingESG-relatedactivitiesacrossvariousbusinessdepartmentsandfunctionaldivisionswithinthecompany.Forconsecutiveyears,thecompanyhasproactivelyadvancedESGpractices,adheringtotheguidanceofthenational"DualCarbon"strategy,respondingtothecountry'sinitiativesontheconstructionofanewenergysystemandtheBeltandRoadInitiative,activelyfulfillingitsphilanthropicresponsibilities,andconsistentlycreatingvalueforthemarket,industry,nation,andsocietyatlarge.Sincetheyearfollowingitslisting,thecompanyhaspublishedannualSocialResponsibilityReports.In2023,itgarneredaccoladesincludingbeingnameda"NationalGreenFactory,"an"AAACreditUnitEvaluatedbytheChinaElectricityCouncil,"achievingthehighestdisclosurerating(A-level)fromtheShanghaiStockExchange,securinga5AratingintheSecretarytotheBoard'sPerformanceEvaluationbytheChinaAssociationforPublicCompanies,receivinganESGratingof"A"fromWindInformation,recognitionforBestPracticesintheBoardOffice,OutstandingPracticesinAnnualPerformanceBriefings,the"ExcellentCaseforCarbonPeakingandCarbonNeutrality"awardedbytheXinhuaCreditJinlanCup,the"2023ESGModelEnterprise"distinctionattheBoaoEnterpriseForum,andthe"BestESGAward"fromCailianPressGroup,amongotherprestigioushonors.
Communication with StakeholdersSustainable Development Strategy
Theselectionofthe"XinhuaCreditJinlanCupESGExcellenceCases"listisorganizedbyXinhuaNewsAgency'sChinaEconomicInformationService.WillfarInformation,withitsall-encompassingpracticeofESGandsocialvaluecreation,stoodoutamonghundredsofcases,earningthedistinctionof"ExcellentCaseforCarbonPeakingandCarbonNeutrality."
Best ESGAward
利益相关方
StakeholdersStakeholder ConcernsKey Points for Fulfilling CSR in 2023Shareholders
?Compliance management??Risk management and control?Profitability
?Compliancetrainingandanti-corruptiontrainingplancompletionrate100%?Convened2shareholdermeetingsand10boardmeetings?Riskmanagementtraining2times?Thesigningrateof"LetterofIntegrityandSelf-DisciplineCommitment"was
100%
?Netprofitattributabletoshareholdersin2023increasedby31.26%year-on-
year
Clients
?Providing quality products and
services?Protecting consumer rights andinterests?Compliance and responsiblemarketing?R&D innovation?Intellectual property protection
?AsofDecember31,2023,thecompanyhadobtainedatotalof707currently
validpatentauthorizations(including149inventionpatents),898softwareworks,and6exclusiverightstointegratedcircuitlayoutdesign?Throughresponsiblesupplychainmanagement,responsibleproductionand
responsiblemarketing,wecontinuedtoimprovecustomersatisfactionandaccumulateagoodmarketreputation.
Employees
?Protecting employee’s rights andinterests
?Providing training and
development platform foremployees?Caring for employees’lives
?100%employeelaborcontractsigningrate?Intermsofdemocraticmanagement,theLaborUnionfullyprotectedthe
legitimaterightsandinterestsofemployees?TostrengthenPartybuilding,withtheapprovalofthePartyCommitteeof
ChangshaHigh-techZone,HunanProvince,theWillfarInformationPartyBranchwasofficiallyupgradedtothePartyCommitteeonSeptember19,2022?Employeebenefitsenriched?Employeetrainingandpromotionmechanismhelpedemployeesrealizetheirvalue
?Employeehealthprotectionstrengthened
Government
?Compliance management??Paying taxes according to law?Leading the healthy
development of the industry
?Thecompanypaidtaxesinaccordancewiththelawthroughouttheyear.In2023,thecompany'stotaltaxpaymentwas197millionyuan.Sinceitslisting,thecompanyhaspaidatotalof620millionyuanintaxes,withnotaxevasionincidents.
?"Measurementandcontrolsystemanditsmeasurementandcontrolmodule
fordistributionautomationterminals"wonthe2023ElectricPowerTechnologyInnovationAward
Partners?Exchange and cooperation
?InvitedtoparticipateinmajorindustryeventssuchastheNewPowerSystemTechnologyInnovationAllianceCouncilandNewEnergyActiveSupportTechnologySymposium,the10thChinaElectronicsSummitForumwiththethemeof"TechnologicalIntegration·IndustrialEcology",andgainedexperience?The"IntelligentPowerBigDataIntegratedAnalysisPlatformResearchandDevelopmentandEngineeringApplicationProject"jointlycreatedwithGuangdongPowerGrid,TsinghuaUniversity,etc.wonthefirstprizeforscientificandtechnologicalprogress.?SubsidiaryZhuhaiZhonghuiwasselectedintothelistofsmartmanufacturing
ecologicalpartnersinGuangdongProvince
Suppliers
?Fair play?Supply chain sustainability
●Anti-bribery
?Tenderingprocesseswasstreamlinedthroughanintegratedinformationsystemtoensurestandardizedprocedures,seamlessworkflows,utmosttransparencyoftendering
?Adoptingsupplierauditprocedures,suppliermanagementregulations,qualityagreementsnegotiatedandestablishedwithsuppliers,andsupplierevaluationmethods,etc.Society
?Information disclosure and
transparency?News interview?Visit and exchange
?CompanynewsdisplayedthroughofficialWeiboandofficialwebsite?112dynamicarticlespublishedtostrengthencommunicationwiththepublic
GuidedbytheShanghaiUnitedMediaGroupandorganizedbyCailianPressGroup,the"4thEliteSecretarytotheBoardSelectionofthe'Luanlu'Series,2022"invitedauthoritiesfromassociationorganizations,securitiesfirms'researchinstitutes,investmentbankingexperts,andacademicinstitutionstoselecteligiblelistedcompanies.WillfarInformation,withitsoutstandingperformanceinsocialresponsibility,corporategovernance,andtechnologicalinnovation,washonoredwiththe"BestESGAward."
Excellent Case for
Carbon Peakingand Carbon
Neutrality
AsoneoftheearliestdomesticenterprisesdedicatedtothefieldofEnergyInternet,WillfarInformationplacesgreatimportanceonESGwork,consistentlyupholdingthebusinesstenetof"Sincerity,Precision,andHarmoniousBenefit-sharing"andintegratingESGprinciplesintomajorstrategicdecisionsanddailyoperationsofthecompany.
SSE STAR Market ESG IndexThisindexreflectstheoverallperformanceof
listedsecuritiesfromSTARMarketcompanieswithbetter
ESGperformance,consideringfactorssuchas
marketcapitalizationcoverage,investmentcapacity,and
ESGevaluations.Thelatestsampleforthisindexincludes
securitiesfromtheSTAR50Indexsampleand
securitiesfromtheSTAR100Indexsample,with
allsampleshavinganESGratingofAorhigher.
SSE STAR Market 100 Index (Code: 588190)TheSTAR100Indexselects100mid-capsecurities
withgoodliquidityfromtheSTARMarket,differentiating
itselffromtheSTAR50Index,whichfocusesonlarge-
capsecurities,thusfurtherenrichingthesize-based
indexsystemoftheSTARMarket.
SSESelectSTARMarketGrowthMomentum
StrategyIndex(Code:950260)selectsthetop50
listed
securitiesfromSTARMarketcompaniesbased
on
comprehensiveperformanceinrevenuegrowthrate
and
momentumoverthepastyear,reflectingthe
overall
performanceofSTARMarketcompanieswithbothgrowthcharacteristicsandmomentumeffects.
SSE Buyback 50 IndexThisindexselectsthetop50listedsecuritieswith
high
buybackratiosasitssample,reflectingthe
overall
performanceofcompanieswithhighbuybackratios.
WillfarInformation'sinclusionintheSSESTARMarketESGIndexandSSESelectSTARMarketGrowthMomentum50StrategyIndexrepresentsanotherhighrecognitionofthecompany'sESGperformance,growthcharacteristics,andmomentumeffects.Sinceitslisting,thecompanyhasachieveddualgrowthinannualrevenuesandnetprofitseveryyear,withacompoundannualgrowthrateof15.65%forrevenuesand24.68%fornetprofits.
Thecompanyadherestovaluecreationasitscorewhileplacingsignificantemphasisoninvestorreturns.AftersuccessfullylistingontheSTARMarketonJanuary21,2020,raisingnetproceedsof610millionyuan,thecompanyhasinvestedallfundsintoR&Dinnovationandcapacityenhancement,resultinginsteadyandrobustgrowthinoperatingperformance.Sinceitslisting,thecompanyhascumulativelydistributedcashdividendsof490millionyuan,andin2023,itplanstodistributeacashdividendof4.3yuanper10shares(inclusiveoftax),withanestimatedtotaldistributionof210millionyuan.Bythen,thecompanyisexpectedtohavecumulativelydistributedcashdividendsof700millionyuan,exceedingtheamountraisedthroughitsIPO.Thecompanyplanstoimplementadividendpayoutratioof40%forFY2024,substantivelyrewardinginvestorsthroughaction.
Movingforward,WillfarInformationwillcontinuetobeguidedbythe"DualCarbon"strategy,activelycontributingtotheglobaldigitalizationofcitiesandgreen,low-carbondevelopment,creatingvalueforinvestors,andpromotingthehealthy,stable,andorderlydevelopmentoftheSTARMarket.
Initial Identification of Sustainability TopicsConductingpolicyresearch,reviewingthecompany'sownbusinessoperations,benchmarkingagainstindustrypeers,andconsultingwithexpertstoidentifymaterialsustainabilitytopics
CommunicationwithInternalStakeholdersEngagingininternalcommunicationacrossdepartmentswithinthecompanytounderstandinternalconcerns,identifyingbothactualandpotentialimpactsassociatedwiththesepoints
CommunicationwithExternalStakeholders
Compilingminutesfromcommunicationswithexternalstakeholderssuchasinvestors,suppliers,andmedia,organizingtheirdemandsandconcerns,andassessingtheactualandpotentialimpactsofthesepointsAssessmentofImportanceandPriorityofSustainabilityTopicsMaterialtopicsdeterminedbasedoninterviews,stakeholderratings,andexpertjudgments
Willfar Information Included the SSE STAR Market ESG Index, SSE Select STARMarket Growth Momentum 50 Strategy Index, SSE STAR Market 100 Index, and SSE
Buyback 50 IndexTheShanghaiStockExchange(SSE)andChinaSecuritiesIndexCo.,Ltd.recentlyannouncedthattheywillofficiallylaunchtheSSESTARMarketESGIndexonMarch21standtheSSESelectSTARMarketGrowthMomentum50StrategyIndexandSSESmartChoiceSTARMarketLeaderStrategyIndexonMarch4th.TheseindicesaimtopromptlyreflecttheperformanceoflistedsecuritiesontheSTARMarketandfurtherenrichtheSTARMarketindexsystem.Intheinitiallist,WillfarInformation,withitsexceptionalESGperformanceandacombinationofgrowthcharacteristicsandmomentumeffects,hasbeenselectedfortheSSESTARMarketESGIndex,SSESelectSTARMarketGrowthMomentum50StrategyIndex,SSESTARMarket100Index,andSSEBuyback50Index.
议题管理
绿色赋能,助力以新能源为主体的新型电力系统建设
公益活动情况积极践行公益活动
65-66
供应链管理建立并持续完善供应链管理制度,优化供应链管理
员工权益保护畅通晋升渠道,职业安全保障,确保职工权益
废弃物和排放物管理绿色生产,严格遵守废弃物和排放物管理制度
城市综合能源管理提供多元化的解决方案,助力数智城市建设
消费者权益保护保护客户隐私,持续提升客户满意度
Analysis of Sustainability Topics
气候变化推动节能减排,倡导绿色环保
可持续发展议题
电力清洁化发展
践行绿色经营、绿色办公,推动节能减排,关键数据持续跟踪管理
投资者权益保护保障投资者权益
坚持创新驱动、创新人才培养、行业创新合作
全球化销售体系,广泛服务全球客户多元化培训,启动员工股权激励具有竞争力的薪酬,丰富的福利
平等雇佣,杜绝童工和歧视行为
优化治理架构,强化制度保障
确保产品质量保持行业领先
资源使用和能耗管理
持续助力乡村振兴
员工福利和薪酬员工培养和激励
强化投资者沟通
客户服务体系
助力乡村振兴
公司治理情况
自主创新情况
投资者沟通
产品质量廉政情况雇佣情况
廉政建设
Sustainability TopicsManagement of TopicsClean power developmentGreen empowerment helps the construction of new power systems
with new energy as the main bodyIntegrated urban energymanagement
Provide diversified solutions to assist the construction of digital smart
citiesIndependent innovationAdhere to innovation-driven, innovative talent training, and industry
innovation cooperationClimate changePromote energy conservation and emission reduction and advocate
green environmental protectionResource use and energyconsumption management
Practice green operations and green offices, promote energy
conservation and emission reduction, and continue to track and
manage key dataWaste and emissionsmanagement
Green production and strict compliance with waste and emission
management systemsCorporate governanceA wide range of products and solutions contribute to the construction
of advanced power systemsInvestor rights protectionProtect investors’rights and interestsInvestor communicationProtect investors’rights and interestsConsumer rights protectionProtect customer privacy and continuously improve customer
satisfactionEmployee benefits andcompensation
Competitive salary, rich benefitsProtection of employee rightsand interests
Smooth promotion channels, ensure occupational safety, and ensure
employee rights and interestsEmployee development andmotivation
Diversity training and launch of employee equity incentivesProduct qualityEnsure product quality remains industry leadingCustomer service systemGlobal sales system, extensively serving global customersIntegrity statusClean government constructionEmployment statusEqual employment and elimination of child labor and discriminationSupply chain managementEstablish and continue to improve the supply chain management
system and optimize supply chain managementSupporting rural revitalizationContinue to support rural revitalizationPublic welfare activitiesActively carry out public welfare activities
●Integrated Urban Energy Management
●Employee Development and Motivation
●Clean power development
●Public Welfare Activities ●Resource Use & Energy Consumption
●Employment Practices
EnvironmentSocial ResponsibilityCorporate GovernanceHigh
温室气体单位排放量2.8 1.62 每百万元年收入??量/ 176,942 吨
合规培训、反腐败培训计划完成率100 100 %
安全?产投?/ 63.24 万元
环保投入/ 10.83 万元
温室?体排放量/ 3,615.16 tCO2
《廉洁与?律承诺书》签订率100 100 %
纳税总额/ 1.97 亿元
电能单位排放量3,228 2,473 千瓦时/百万元年收入??单位排放量100.00 79.5 吨/百万元年收入
安全?产事故数0 0 起
Importance to Economic, Social, and Environmental Impact
Sustainability Indicators
Matrix of Sustainability Topics
Importance to Company Value
●Customer Service System
●Investor Communication
●Corporate Governance
2023年度
5,503,055.5
目标值
千瓦时
67-68
单位名称
LowHigh
电能/
.
..
.
NameTarget value2023UnitGreenhouse gas emissions/3,615.16tCO
Greenhouse gas emissions per
unit of revenue
2.81.62
Per million yuan of
annual revenueWater consumption
/176,942TonDischarge per unit of water
consumption
100.0079.5
tons /million yuan of
annual revenueElectric energy
/5,503,055.5KWHEmissions per unit of electrical
energy
3,2282,473
kWh /million yuan of
annual revenueEnvironmental protection
investment
/10.8310,000 yuanTotal tax paid
/1.97100 million yuanCompliance and anti-corruption
training completion rate
100100%"Letter of Integrity and Self-Discipline Commitment" signing
rate
100100%Investment in work safety
/63.2410,000 yuanNumber of production accidents
●Waste and emissions management
●Climate Change
●Product Quality and Safety
●Independent Innovation
●Consumer rights protection
●Supply Chain Management
●Integrity Status
●Protection of Employee
Rights and Interests
●Employee Benefits &
Compensation
●Supporting Rural Revitalization
●Investor Rights Protection
Digitization is the most important trend in various industries in the 21st century. Withcontinuous advancements in energy technology and productivity, and the country'sfirm commitment to the "Dual Carbon" strategy, a profound energy revolution isunderway, presenting numerous opportunities and challenges for the energy industry.The company has formulated multiple strategies to better seize these opportunities,while also addressing risks, particularly financial risks. Although the debtors of thecompany's accounts receivable are primarily creditworthy and financially strongpower and water companies, with good recovery guarantees for accounts receivableand a relatively low risk of bad debt losses, the company has already established aprudent bad debt provision policy in line with accounting standards. However, if thecompany's accounts receivable continue to rise significantly, clients experiencedeteriorating financial conditions or are unable to make payments on time, or thecompany faces tighter external funding conditions, it could face considerableoperating capital pressure, negatively impacting the company's production andoperations and financial situation. To address this, the company has imposed higherrequirements on aspects such as strategic planning, organizational structure, internalcontrol, operational management, and financial management, striving to mitigate theimpact of these risks.
69-70
Governance StructureThecompanyhasestablishedandperfecteditsgovernancestructure.Shareholders'meetings,theboardofdirectors,thesupervisoryboard,andseniormanagementcoordinateandcheckandbalanceeachother,withtheboardsecretaryandindependentdirectorsdiligentlyfulfillingtheirduties,effectivelyenhancingtheimpartialityandscientificnatureofdecision-making,ensuringthecompany'slawfulmanagementandstandardizedoperations.Thecompany'sboardofdirectorshasformedaStrategic&ESGCommittee,AuditCommittee,NominationCommittee,andRemuneration&EvaluationCommittee,withmembersconfirmedthroughrigorousprocedures,playingasignificantroleinthecompany'soperationsandmanagement.Additionally,correspondingrulessuchasthe'Strategic&ESGCommitteeWorkingRules','AuditCommitteeWorkingRules','NominationCommitteeWorkingRules',and'Remuneration&EvaluationCommitteeWorkingRules'havebeenformulated.
Tobetterconductthecompany'sESGworkandoptimizethetop-leveldesignofESGmanagement,the'BoardofDirectorsStrategicCommittee'hasbeenrenamedthe'BoardofDirectorsStrategic&ESGCommittee',responsibleforoverseeingandmanagingthecompany'ssustainabledevelopmentandrelatedenvironmental,social,andcorporategovernance(ESG)matters.Underthe'BoardofDirectorsStrategic&ESGCommittee',a'SustainableDevelopmentESGWorkingGroup'hasbeenestablishedtoleadandmanageESGwork,coordinatingrelevantbusinessdepartmentsandfunctionaldepartmentswithinthecompanytocarryoutESG-relatedtasks.
Independentdirectorsarethepromotersofoptimizationinthecompany'sgovernancestructure,supervisorsofthecompany'sstandardizedoperations,andprotectorsoftheinterestsofminorityshareholders.Theboardofdirectorsconscientiouslyperformsitsfunctions,strictlyabidingbyrelevantlawsandregulationssuchasthe'CompanyLaw'andtheprovisionsofthe'ArticlesofAssociation'and'BoardMeetingRules'.Asystemofindependentdirectorshasbeenestablished.In2023,thecompany'sindependentdirectors,inaccordancewithnationallawsandregulationsandtheprovisionsofthe'ArticlesofAssociation'and'IndependentDirectorWorkSystem',diligentlyfulfilledtheirduties,expressingopinionsonmattersrequiringindependentdirectoropinions,proposingrelevantopinionsandsuggestionsonthecompany'soperationalmanagementaffairs,playinganactiveroleinimprovingthecompany'sgovernancestructureandstandardizingitsoperations.Thecompany'sboardofdirectorsconsistsof9directors,holding2shareholders'meetings,10boardmeetings,and9supervisoryboardmeetingsthroughouttheyear.
高级管理人员
女性占比22.22% 66.67% 100% 42.86%
Committee
Remuneration &EvaluationCommittee
SeniorManagementShareholders'
Meeting
NominationBoard of Directors
Supervisory
Board
Strategic & ESGCommittee
Board of Directors
Audit Committee
其中:女性2 22 6
Operation of the General Meeting of Shareholders, Boardof Directors and Supervisory Board
Organizational Structure
Composition of Personnel
监事会
董事会
类别总人数
合计
CategoryBoard of DirectorsSupervisory boardSenior managementTotal
Total number of people93214Among them: women2226Proportion of women22.22%66.67%100%42.86%
Keeping Pace with Policy Developments to Ensure Complianceand Efficiency
Updatingandreinforcingtheimplementationofnewsystems:Atthe9thmeetingof
the3rdBoardofDirectors,thecompanyapprovedrevisionstotheArticlesof
Association,IndependentDirectorWorkSystem,ExternalGuaranteeManagementSystem,
IntercompanyTransactionImplementationRules,and5othergovernancesystemsinlightofthe
listedcompanygovernancerulesissuedbytheCSRCandSSEin2023.Thecompanywill
strengtheninternaltraining,communication,andprocessexecutionchecksfortherevised
systems,enhancingtheireffectiveimplementation.
Thecompanywillalsoestablishamechanismforregularmonitoringofnew
regulatoryrequirements,ensuringaswiftresponsetoregulatorydevelopments.Following
thepromulgationofnewregulationsinthecapitalmarkets,thecompanywilltimelyrevise
andapproverelevantinternalsystemsinaccordancewithrequirements.
Empowering Key Roles to Enhance Governance Capabilities
"Keyminorities"playavitalroleincorporategovernance.Thecompanywill:1)
providefeedbackandcommunicatelegallymandatedtrainingorganizedbycapitalmarketregulators
; |
2)fullyleverageresourcesfromregulatoryplatformssuchastheCSRC,SSE,PujiangLecture
ChinaAssociationforPublicCompanies,andCapitalMarketsCollege,organizingonlineand
offline |
trainingfor"keyminorities"andthecompany'smanagementteam,ensuringtheystayinformed
thelatestlawsandregulations,enhancingtheirprofessionalskillsandcomplianceknowledge
reserves, |
anddrivinganoverallimprovementinthecompany'sgovernancelevel.
Internal Control & Management Mechanism
Duringthereportingperiod,thecompanyestablishedaninternalcontrolsystemtailored
itsoperationalanddevelopmentalneedsinaccordancewithrelevantnationalrequirements
and |
guidelines,streamliningandoptimizingrelatedmanagementsystemsandprocessesto
thecompany'sriskpreventioncapabilitiesandstandardizeitsoperations.
Duringthereportingperiod,thecompanystrictlyadheredtotheprovisionsofthe
Articles |
ofAssociation,theInsiderInformationRegistrantManagementSystem,andother
regulations,diligentlycarryingoutconfidentialitymeasuresbeforeinformationdisclosureandtheregistrationofinsiderinformation.
Integrating Regulatory Dynamics to Strengthen Foundations forDevelopmentTomaintainclosealignmentwithregulatorypolicies,thecompanyestablishes
relevant
a
continuoustrackingandfeedbackmechanismforregulatorydynamics,collecting,
analyzing,
andtimelytransmittingthelatestregulatoryinformation.Itcompilesandinterpretsthe
newest
regulatorypolicies,marketrules,andrelevantlegalandregulatoryinformationona
quarterly
basis,compilingthemintoabookletforthecompany's"keyminority"personnel
.
Simultaneously,itdisseminatesthechangesinregulatorypoliciesandtheirimpacton
the
company'sbusinesstothemanagementteam,familiarizingthemwiththeirresponsibilities
in
informationdisclosure,reportingofsignificantevents,andinsiderinformation
management,
fosteringacompliancemindsetthroughouttheorganization,guidingthecompany
towards
steadydevelopmentonafoundationofcompliance.
Risk Control & ManagementInrecentyears,thecompanyhasconsistentlyupheldsoundgovernance,promptlyupdatingandrevising
relevantsystems,continuallyimprovingitsinternalmanagementmechanismstoensurecomplianceandoptimized
governance,safeguardingtherightsandinterestsofsmallandmedium-sizedinvestors.InaccordancewiththeIndependent
DirectorManagementMeasures,SupervisionGuidelineNo.3forListedCompanies-CashDividendsofListed
Companies,GuidelinesfortheArticlesofAssociationofListedCompanies,andotherrelevantlawsandregulations,the
companyupdatedandrevised12internalsystemsincludingtheArticlesofAssociation,RulesofProcedurefor
Shareholders'Meetings,RulesofProcedureforSupervisors'Meetings,IndependentDirectorWorkSystem,External
GuaranteeManagementSystem,InformationDisclosureManagementSystem,amongothers,strengtheningthe
rights,responsibilities,andobligationsofindependentdirectors,furtherstandardizingthecorporategovernancestructure,
activelyfulfillingsocialresponsibilities,andprotectingthelegitimaterightsandinterestsofinvestors.Concurrently,the
companyconductedacomprehensiveexaminationandupgradeofitsgovernancestructure,establishingamore
efficientmanagementsystemandmoremarket-orientedmechanisms,conducting2riskmanagementtrainingsannually.
71-72
Risk AnalysisRiskofUnprofitabilityorSignificantDeclineinPerformanceFromthecompany'sfinancialsituation,thecompanyhasmaintainedacontinuousprofit-makingstatusforseveralyears,withsteadyyear-on-yeargrowth.In2023,thecompany'soperatingrevenuewas222,524.9millionyuan,andthenetprofitattributabletoshareholderswas52,525.99millionyuan.In2023,thenetprofitattributabletoshareholdersincreasedby
31.26%year-on-year,andthenetcashflowgeneratedfromoperatingactivitiesincreasedby62.21%year-on-year.
CoreCompetitivenessRiskTheIoTindustrybenefitsfromtherapiditerationofIoTtechnologies,leadingtorapiddevelopmentofnewproducts,technologies,andapplicationmarkets.Asdownstreamapplicationscenarioscontinuetodiversify,manylargeenterprisesandstartupsareactivelyenteringthefieldsofsmartcitiesandenergyinternet,intensifyingmarketcompetition.IfthecompanycannotcontinuouslyinnovateandconductR&Donnewtechnologiesinresponsetomarketchanges,continuouslystrengtheningitscorecompetitiveness,itmayplacethecompanyatadisadvantageintheincreasinglyfiercemarketcompetition,potentiallyhavingacertainadverseimpactonthecompany'soperatingperformance.OperatingRisksInrecentyears,drivenbyaseriesofdomesticandinternationalpoliciesandthedevelopmentofnewtechnologies,theIoTindustryinwhichthecompanyoperateshascontinuedtogrow,withthecompany'soveralloperatingscalefurtherexpanding.Thisplaceshigherdemandsonthecompanyinaspectssuchasstrategicplanning,organizationalstructure,internalcontrol,operationalmanagement,andfinancialmanagement.Ifthecompany'smanagementcannoteffectivelyenhancemanagementcapabilitiesandoptimizemanagementsystems,itmayresultinthecompany'smanagementsystembeingunabletofullyadapttotherapidexpansionofitsbusinessscale,causingadverseeffectsonthecompany'sfutureoperationsandsustainedprofitability.
IndustryRisks
TheindustryauthoritiesrelevanttotheIoTindustryinwhichthecompanyoperatesmainlyincludetheNationalDevelopmentandReformCommission,MinistryofIndustryandInformationTechnology,StateAdministrationforMarketRegulation,MinistryofHousingandUrban-RuralDevelopment,andspecificapplicationindustryauthorities,involvingnumerouslawsandregulations.Currently,thecompanystrictlyconductsproductionandoperationsinaccordancewithindustrylaws,regulations,andindustrystandards.Ifindustrydevelopmentfallsshortofexpectationsormarketdemanddeclines,itwillleadtoaslowdowninthegrowthofthecompany'ssub-sector,thusaffectingthecompany'srapidgrowth.FinancialRisks
Althoughthedebtorsofthecompany'saccountsreceivableareprimarilycreditworthyandfinanciallystrongpowerandwatercompanies,withgoodrecoveryguaranteesforaccountsreceivableandarelativelylowriskofbaddebtlosses,thecompanyhasalreadyestablishedaprudentbaddebtprovisionpolicyinlinewithaccountingstandards.However,ifthecompany'saccountsreceivablecontinuetorisesignificantly,clientsexperiencedeterioratingfinancialconditionsorareunabletomakepaymentsontime,orthecompanyfacestighterexternalfundingconditions,itcouldfaceconsiderableoperatingcapitalpressure,negativelyimpactingthecompany'sproductionandoperationsandfinancialsituation.Mostoverseasprojectssignedbythecompanyuseforeigncurrenciesassettlementcurrencies.Withtheexpansionofthecompany'soverseasbusiness,fluctuationsintheRMBexchangeratewillhaveacertainimpactonthecompany'soperatingresults.Macro-environmentalRisksThecompany'sindustryiscloselylinkedtonationalmacroeconomicpoliciesandindustrialpolicies.Cyclicalfluctuationsinthenationaleconomy,changesinpolicydirectionregardingindustrydevelopment,etc.,mayaffectthecompany'sproductionandoperations.
Regarding Shareholders and Shareholders' Meetings:
Duringthereportingperiod,thecompanystrictlycompliedwithrelevantlawsandregulationsandtherequirementsofthe"ArticlesofAssociation"andthe"RulesofProcedureforShareholders'MeetingsofWillfarInformationTechnologyCo.,Ltd.",conveningandholdingshareholders'meetingsinastandardizedmanner,conductingpropervotingonmattersunderconsiderationbytheshareholders'meeting,ensuringallshareholdersfullyexercisetheirlegalrights.Duringthereportingperiod,thecompanyheldatotalof2shareholders'meetings,convenedbytheboardofdirectors.
Regarding Controlling Shareholders and Listed Companies:
Duringthereportingperiod,thecontrollingshareholderofthecompanystrictlyadheredtorelevantlawsandregulations,regulatingtheirbehavior,exercisingshareholderrightslawfullythroughshareholders'meetings,withoutdirectlyorindirectlyinterferingwiththecompany'sdecision-makingandoperationalactivitiesbeyondthescopeoftheshareholders'meeting.Thecompanydidnotprovideguarantees,financialassistance,ornon-operationalfundoccupationforthecontrollingshareholderorotherrelatedparties,nordiditengageinanyactionsdetrimentaltotheinterestsofthecompanyorothershareholders.
Regarding Directors and the Board of Directors:
Duringthereportingperiod,thecompany'sboardofdirectorsconsistedof9directors,including3independentdirectors,withthenumberandcompositionoftheboardmeetingtherequirementsoflaws,regulations,andthe"ArticlesofAssociation".Alldirectorsdiligentlyattendedboardmeetingsandparticipatedinshareholders'meetings,continuouslydeepeningtheirunderstandingofrelevantlawsandregulations,fulfillingtheirrespectiveresponsibilitieswithintegrity,diligence,anddedication.Theboardofdirectorsstrictlyfollowedthe"ArticlesofAssociation",the"RulesofProcedureforBoardMeetingsofWillfarInformationTechnologyCo.,Ltd.",andotherrelevantregulationsinconveningandholdingboardmeetings,executingshareholders'meetingresolutions,andexercisingtheirpowersaccordingtothelaw.TheboardofdirectorshasestablishedsubordinatecommitteesincludingtheAuditCommittee,theStrategic&ESGCommittee,theNominationCommittee,andtheRemuneration&EvaluationCommittee,whichareofgreatsignificanceinenhancingthecompany'smanagementandoperationalcapabilitiesandensuringthescientificnatureofinvestmentdecisions.Duringthereportingperiod,theboardofdirectorsheld10meetings,examiningandapprovingmatterssuchastheannualreport.
InJune2023,thecompanycompletedtheboardofdirectors're-election,forminganinternationalboardwithdiverseprofessionalbackgroundsandcomplementaryskillsets.Eachboardmemberpossessesextensiveexperienceinareassuchasenterprisemanagement,businessoperations,technicalexpertise,riskcompliance,finance,andaudit&internalcontrol.Consideringthecompany'sneedforinternationaldevelopmentandthecharacteristicsoftheenergyIoTindustry,thecompanynotonlyrecruitedaprofessionalindependentdirectorcandidatefromtheaccountingfieldbutalsoappointedascholarfromthefieldofelectricalengineeringasanindependentdirector,alongwithaSingaporeaneconomistandfinancialexpertasanindependentdirector.Regarding Supervisors and the Supervisory Board:
Duringthereportingperiod,thecompany'ssupervisoryboardconsistedof3supervisors,withthenumberandcompositionoftheboardinlinewiththerequirementsoflaws,regulations,andthe"ArticlesofAssociation".Thecompanystrictlyfollowedthe"CompanyLaw",the"RulesofProcedureforSupervisors'MeetingsofWillfarInformationTechnologyCo.,Ltd.",andotherrelevantregulations,standardizingtheconvening,holding,andvotingproceduresofthesupervisoryboard,diligentlyfulfillingitsdutiesandattendingcompanyboardmeetingsandshareholders'meetings.Thecompany'ssupervisoryboardcanindependentlyandeffectivelysupervisethelegalityandcomplianceofthecompany'sfinancialsandthedutiesperformedbythecompany'sdirectorsandseniormanagement,safeguardingthelegitimaterightsandinterestsofthecompanyanditsshareholders.
Duringthereportingperiod,thecompanystrictlyadheredtotherequirementsoflawsandregulationssuchasthe"CompanyLawofthePeople'sRepublicofChina",the"SecuritiesLawofthePeople'sRepublicofChina",the"GuidelinesfortheGovernanceofListedCompanies",the"ListingRulesforSci-TechInnovationBoardStocksoftheShanghaiStockExchange",the"Self-RegulatoryGuidelinesNo.1forSci-TechInnovationBoardListedCompanies–StandardizedOperation"andothernormativedocuments,aswellasthe"ArticlesofAssociationofWillfarInformationTechnologyCo.,Ltd."(hereinafterreferredtoasthe"ArticlesofAssociation"),continuouslyimprovingitscorporategovernancestructure,establishingandperfectingitsinternalcontrolsystem,furtherpromotingthecompany'sstandardizedoperation,andenhancingitsgovernancelevel.Duringthereportingperiod,thecompanyoperatedinahighlyregulatedmannerwithstrongindependence,compliantinformationdisclosure,anditsactualgovernancesituationmettherequirementsofthenormativedocumentsgoverninglistedcompanygovernance.Specificdetailsareasfollows:
ExplanationofGovernance-RelatedMatters
73-74
ContinuousMonitoringofPoliciesandRegulations:Continuouslytrackrelevantlawsandregulationsrelatedtocarbonneutrality,conducttrainingtounderstandthecontentofregulations,regularlyorganizecompliancereviews,andimplementgreenandlow-carbonstrategies.Countermeasures:
Information Disclosure
Thecompanystrictlycomplieswiththe"ListingRulesforSci-TechInnovationBoardStocksoftheShanghaiStockExchange",the"Self-RegulatoryGuidelinesNo.1forSci-TechInnovationBoardListedCompanies–StandardizedOperation",the"ArticlesofAssociation",andotherrelevantregulations,fulfillingitslegalobligationtodiscloseinformation.Duringthereportingperiod,thecompanytimelydisclosedperiodicreportsandinterimannouncements.Thecompanyensuresthatinformationisdisclosedtruthfully,accurately,completely,andpromptly,guaranteeingtimelypublicaccess.IthasalsoestablishedandimproveditsESGinformationdisclosuresystem,activelypromotingannualESGdisclosures.
IncreasedInvestmentinTechnologicalInnovation:Strengthenresearchongreentechnologiesandtheestablishmentofgreenstandards,enhancingthecompany'scapacityforinnovationingreenproductsandgreenmanufacturingprocesses;deepentheintegrationofindustry,academia,andresearch,continuouslyimprovingtheinnovationincentivemechanism,buildingcoretechnologicalbreakthroughsandleadingcapabilities.
PositioninginGreenandLow-CarbonTechnologies:Strengtheninvestmentsingreensustainabilitystrategies,advancingresearchongreenproductsandgreentechnologystandards,cateringtothegrowinggreenconsumptiondemandsofmarketsandmodernconsumergroups
EnhancingTransparencyinInformationDisclosure:Establishadiversifieddisclosuremechanism,treatingclimatechangeasacentralissue,communicatingthroughvariouschannelsandplatformswithstakeholders;strengthencomplianceconstruction,ensuringthecomplianceofinformationdisclosure
Thecompanyoperatesmajorfundraisingprojectsinastandardizedmanner,strictlyabidingbyrelevantlawsandregulationsinfulfillingdisclosureobligationsforsuchprojects.Thecompanyhasformulatedthe"FundraisingProceedsManagementSystemofWillfarInformationTechnologyCo.,Ltd.",specifyingdetailedprovisionsonthestorage,usage,andmanagementoffundraisingproceeds.Thecompanymanagesfundraisingproceedsinaccordancewiththeseregulations,utilizingtemporarilyidleproceedsinarationalmannerforcashmanagement,withafocusonprotectingsmallandmedium-sizedinvestors.InAugust2023,thecompany'sfundraisingprojectreachedcompletion,withthecompanyorganizingthecollectionandreviewofrelevantmaterials,successfullycompletingprojectacceptanceanddisclosurework.
Management of Other Risks
1.RisksofPolicy/Legal/RegulatoryAdjustments:Undertheconstraintsofcarbonpeakingandcarbonneutralitygoals,
changesinrelevantlawsandregulationsconcerningindustrialcirculareconomy,greenproductdesign,pollutioncontrolinproduction,andtheuseofcleanenergymayincreasethecompany'scompliancecosts.
3.MarketVolatilityRisk:Withthegrowingemphasisonsustainability,consumermarketsareincreasinglyawareof
anddemandinggreenproducts.Failuretograspthisshiftindirectioncouldresultinthelossofmarketshare.
4.Reputation Risk: Stakeholders' awareness of climate risks and opportunities is increasing. Should the company adopt a wait-and-
see attitude toward climate change or fail to respond to stakeholders' concerns, it could impact the company's reputation.
2.RiskofTechnologicalIterationandInnovation:Researchonenergyconservationandenvironmentalprotection
technologiesandenergy-savingtechnologicaltransformationsmayincreasethecompany'sR&Dcost.Technologicalchangesandinnovationsingreenproductdesignmayleavethecompanyvulnerabletosetbacksinitscorecompetitiveness.
Duringthereportingperiod,thecompanyscrupulouslyobservedtheprovisionsofitsArticlesofAssociation,theRegistration&ManagementSystemforPersonsFamiliarwithInsiderInformation,andrelatedregulations,diligentlyensuringconfidentialitypriortoinformationdisclosureanddiligentlyconductingtheregistrationofsuchpersons.
Registration & Management of Persons Familiar with InsiderInformationRegarding Fundraising Management
75-76
Countermeasures:
Countermeasures:
Countermeasures:
Visualization of Information
DisclosureWhilereleasingperiodicreports,thecompanyemploysvisualformatssuchasperformancebriefings,graphicsummaries,andshortvideostointerpretbothperiodicreportsandinterimannouncements.Theseengaging,intuitivemethodshelpinvestorsbetterunderstandthecompany'soperatingresults,financialcondition,anddevelopmentstrategies.
Simplification of Technical
TerminologyWhendraftingannouncements,thecompanyendeavorstoavoidoverlytechnicalterms,usingeasilyunderstandablelanguagetoconveyinformation,reducingthereadingdifficultyforinvestors.
Auxiliary Explanations in
Graphical Format
Periodicreportswillincorporateadditionalgraphicalaidssuchaschartsanddatacomparisons,makinginformationclearerandeasiertocomprehend.
Internationalization of Information
DisclosureInternationalizationofinformationdisclosureisapartofthecompany'scommitmenttointernationalizationinthecapitalmarket.Thecompanyreleasesbilingual(ChineseandEnglish)versionsofone-pagesummariesofperiodicreports,environmental,social,andgovernance(ESG)socialresponsibilityreports,andactionplansforenhancingefficiencyandreturns.Thesepublicationsshowcasethecompany'sfinancialstatusandbusinessoperationstoglobalinvestors,facilitatingstrongerconnectionswithinternationalinvestorsanddemonstratingthecompany'scommitmentandeffortsinsustainabledevelopmentandsocialresponsibility.
Investor Relations ManagementThecompanyhasestablishedsystemsrelatedtoinvestorprotectionandinvestorrelationsmanagement,furtherrefiningthetwo-waycommunicationmechanismbetweenthecompanyandinvestors.Whilelisteningtoinvestors'suggestions,thecompanypromptlyconveystheserecommendationstotheboardofdirectorsandmanagement,contributingtotheimprovementofbusinessstrategiesandmaintainingarelationshipofmutualtrustandalignedinterestswithinvestors,continuouslyenhancinginvestorrelationsmanagementcapabilities.Establishingmultipleeffectivecommunicationchannelswithinvestors,thecompanyholdsannualperformancebriefingsessionsforperiodicreports,withthechairmanandpresidentleadingboardmembersandtechnicalprofessionalsinconductingonlineexchangeswithabroadrangeofinvestors.ThecontentsofSSEeInteractive,investorcalls,andemailsaremanagedandrecordeddailybydedicatedpersonnel,withpromptresponsesprovided.Thecompanyalsopaysattentiontoinvestorcommunicationplatformsfrequentedbysmallandmedium-sizedinvestors,suchasEastMoneyStockBar,Snowball,andFlush,respondingpromptlytoinvestors'requests.
Activelyaligningwithinternationalpracticesandraisingthe"internationalization"levelofinvestorrelations,thecompanystrengthenscommunicationwithoverseasinvestors,implementingthe"goglobal"strategy.OnMarch13,2023,thecompanywasofficiallyincludedinthelistofSSEConnecttargets,betterestablishinginvestmentchannelsforoverseasinvestors,furtherrefiningthecompany'sinvestorstructure,andenhancingitsinternationalprofile.
Compliance Training
Toimplementthe"OpinionsoftheStateCouncilonFurtherImprovingtheQualityofListedCompanies"andcontinuouslyenhancethecompany'soperationalstandardizationandimprovethequalityofinformationdisclosure,thecompanyorganizedmultiplecompliancetrainingsessionsin2023fordirectors,supervisors,andmanagement,attendedbytheCSRC,exchanges,andthelistedcompanyassociation.Internallearningmaterialsweredistributedtoreinforcethecomplianceawarenessofdirectors,supervisors,andmanagement,enhancingmanagementcapabilities,improvinggovernancelevels,comprehensivelypromotingthecompany'ssustained,stable,andhealthydevelopment,upholdingmarketfairness,andprotectinginvestorinterests.Throughtheseefforts,themanagementteamfurtherrefinedthecompany'sinternalcontrolsystem,optimizedthegovernancestructure,strengthenedsupervisoryresponsibilities,andcontinuouslyimprovedtheirfulfillmentofduties.
In 2023, the completion rate for compliance training and anti-corruption training programs was 100%, witha 100% signing rate for the "Letter of Integrity and Self-Discipline Commitment".
Thecompanyhasestablishedsuppliermanagementproceduresandanannualqualityreviewsystemforsuppliers,adoptingprinciplesoffairbidding,tenderprocurement,andqualityprioritizationindealingwithsuppliers.Tofurtherstandardizesuppliermanagementandenhancesupplychainquality,thecompanyemployssupplierauditguidelines,suppliermanagementregulations,qualityagreementsnegotiatedwithsuppliers,andsupplierevaluationmethodstoscientificallyassesssuppliers'qualifications,productionsites,technicalproficiency,andqualityassurancesystems.Duringthereportingperiod,thecompanydidnotdiscoveranycasesofviolationsoflawsandregulationsrelatedtobriberyandcorruption,norwerethereanyconcludedcorruptionlawsuitsagainstthecompanyoritsemployees.Additionally,thecompanyhasputinplacerelevantreportingmechanismsandwhistleblowerprotectionpolicies,makingthepreventionofcommercialbriberyandunfaircompetitionmorecomprehensive.
BasedontherelevantrulesandregulationsofChina'sAnti-MonopolyLaw,thecompanyhasmadeclearstipulationsandimplementedgovernanceintheareaofanti-monopoly,aimingtopromotethestandardized,healthy,andsustainabledevelopmentofthecompany'seconomyandtoopposemonopolies,fosteringafaircompetitiveenvironment.Duringthereportingperiod,thecompanydidnotencounteranycasesofviolationsoflawsandregulationsrelatedtoanti-monopolyandanti-unfaircompetition,norwerethereanyconcludedlawsuitsagainstthecompanyallegingunfaircompetitionpractices.
Thecompanyupholdsthebusinessphilosophyofoperatinglegallyandpayingtaxesinaccordancewiththelaw,strictlyobservingtaxlawsandregulations,diligentlyfulfillingtheresponsibilitiesandobligationsofcorporatecitizenstopaytaxeslawfully,whileactivelypromotingemploymentanddrivingeconomicdevelopment.In2023,thecompany'stotaltaxpaymentwas197millionyuan,withacumulativetaxpaymentof620millionyuansinceitslisting.There were no incidents of tax evasion or tax fraud during this period.
Tax Compliance
Anti-Monopoly
Fair Competition
Business Ethics
77-78
13-14
40% Cash Dividend Payout Ratio Proposed for
2024
In2024,thecompanywillfocusonlong-term,sustainabledevelopment,takingintoaccountthecompany'sactualsituation,strategicdevelopmentplans,andindustrytrends,toestablishascientific,continuous,andstablereturnplanandmechanismforinvestors,ensuringthecontinuityandstabilityoftheprofitdistributionpolicy.Itisplannedtosetacashdividendpayoutratioof40%for2024profits.
Introduction of the Company's First Employee
Share Ownership PlanThecompanyhaslauncheditsfirstemployeeshareownershipplanwithatotalof4millionshares.Theplanincludesalock-upperiod,withthesharesbeingreleasedinthreestagesuponreaching12,24,and36monthsrespectivelyfromthedatethetargetsharesaretransferredtotheemployeeshareownershipplan.Theproportionofsharesunlockedineachstageis40%,30%,and30%respectively.Theemployeeshareownershipplanalsoincorporatesindividualperformanceassessmentmetrics.Basedontheemployee'sevaluationscoreandcomprehensiveevaluationresults,aperformancegradeisdetermined.Whileprovidingampleincentivestoplanparticipants,thisalsogeneratescorrespondingconstraints,encouraginglong-termshareholdingandfocusingonthecompany'slong-termvalue,effectivelyaligningtheinterestsofholderswiththoseofthecompanyanditsshareholders.
Shared Responsibility and Benefits: Plans for Long-Term Equity Incentive Schemes over the Next Two
YearsInthefuture,tocontinuouslystrengthenthesharedresponsibilityandbenefitsconstraintbetweenmanagementandshareholders,thecompanyintendstoutilizeallrepurchasedsharesforlong-termequityincentives.Itplanstoimplement4millionsharesin2025and4.3148millionsharesin2026.Thiswillensurealong-termincentiveandconstraintmechanismforthecompany'smanagementteamandcorebusinessteam,promotingalignmentofinterestsandsharedbenefitsbetweenmanagementandallshareholders,ultimatelyenhancingtheoverallvalueofthecompany.
30% Increase in Per-Share Dividend Payout for 2023OnMarch21,2024,thecompanyhelditsannualgeneralmeetingtodeliberateonthedividendpayoutplanfor2023.Itproposedtodistributeacashdividendof4.3yuanper10shares(inclusiveoftax)toallshareholders,representinga30%year-on-yearincreaseinper-sharecashdividendpayouts,withatotaldistributionof210millionyuanincashdividends.Thusfar,thecompanyhascumulativelydistributed700millionyuanincashdividendssinceitslisting,exceedingtheamountraisedthroughtheinitialpublicoffering,demonstratingtangiblereturnstoinvestorsthroughactions.
WillfarInformationfocusesonvaluecreationinitsbusinessmanagementandattachesgreatimportancetoinvestorreturns.OnJanuary21,2020,thecompanysuccessfullylistedontheSci-TechInnovationBoard,raisingnetproceedsof610millionyuan,allofwhichwereinvestedinresearchandinnovationandcapacityenhancement,resultinginsustained,steadygrowthinoperatingperformance.
Sinceitslisting,thecompany'sannualrevenuesandnetprofitshaveconsistentlygrown,withacompoundannualgrowthrateof
15.65%inrevenuesand24.68%innetprofits.Thecompanyhascumulativelydistributedcashdividendsamountingto490millionyuan
andcompletedasharerepurchaseequivalentto2.46%ofthetotalsharecapital,witharepurchaseamountof299millionyuan.Intermsofearningsquality,thecompany'sreturnonequityhasalsoshowncontinuousgrowth.
Thecompanyhasestablishedafunctionalcompensationsystemthatintegratesjobresponsibilitieswithgoal-orientedaccountability,withvaluecontributionservingasthecoreprincipleguidingremunerationincentiveallocation.Thisensuresfairness,motivation,andcompetitivenessinthecompany'ssalarydistribution.Concurrently,itcontinuallyrefinesitsemployeecareerdevelopmentframework,fullymobilizingstaffmembers'enthusiasmandcreativity,therebyenhancingemployeecohesionandthecompany'scorecompetitiveedge.
Thecompanyhasputinplaceandimplementedaseriesofpoliciesandmeasurestoreinforcethesharedresponsibilityandsharedbenefitsmechanismbetweenmanagementandshareholders.Thisstimulatestheinitiativeandinnovativespiritofthemanagementteam,drivingthecompany'slong-term,steadygrowth.
Creating Value as the Foundation for Consistently Delivering Substantial Returns toInvestors
Enhancing Equality,Efficiency & Returns
79-80
Building a Win-Win Situation for Management and Shareholders throughShared Interests
Appendix: Key Performance Table
81-82
Performance IndicatorsValue in 2023UnitIndicator indexFinancialPerformance
Total assets425,755.9410,000 yuan
05?06, 11?12Net profit attributable to shareholders52,525.9910,000 yuan
Operating income222,524.9010,000 yuan
Net profit52,634.6810,000 yuanR&D investment22,743.5910,000 yuanRegulatoryperformance
Number of directors on the board of
directors
63?64, 69?70General meeting of shareholders2Times
Board meeting10TimesSupervisory board9Times
Party buildingperformance
Number of Party members in the
company
61?62Number of probationary Party
members in the company
Number of Party committee meetings
held throughout the year
6TimesNumber of Party building activities8TimesNumber of visits received for Partybuilding and mass organization
building
5TimesCompliancemanagementperformance
Compliance and anti-corruption
training completion rate
100%
67?68"Letter of Integrity and Self-Discipline Commitment" signing rate
100%Risk managementperformance
Risk management training2Times63?64
Energy & resourceconsumptionperformance
Electric energy5,503,055.50KWH
11?12, 17?18PV power generation502,352.31KWH
Water consumption176,942TonNatural gas81,264.47Cubic meter
Pollutant treatment
performance
COD concentration in discharged
wastewater
30mg/L
11?12?
BOD5 concentration in discharged
wastewater
6.3mg/L
Helium nitrogen concentration in
discharged wastewater
21.4mg/L
Total phosphorus concentration in
discharged wastewater
1.72mg/L
Petroleum concentration in discharged
wastewater
0.14mg/L
Total suspended particulate matterconcentration in discharged exhaust
gas
0.28
mg/m
Hazardous waste generation ( tin slag)4.005Ton
Hazardous waste recycling rate100%Environmental protection investment10.8310,000 yuan
Performance indicatorsValue in 2023UnitIndicator indexGreenhouse gasemissionsperformance
Greenhouse gas emissions3,615.16tCO
11?12Emissions per unit of income1.62Per million
yuan ofannual revenue
Employeeresponsibilityperformance
Total number of employees in 2023812
39?40?Number of male employees612Number of female employees200
Ratio of female employees25%
Turnover rate4%Labor contract signing rate100%Social insurance coverage100%
Occupational healthperformance
Training sessions588Times
39?42Employee training coverage100%Employee occupational health
examination rate
100%Occupational health record coverage100%
Newly diagnosed cases of
occupational diseases
Safety management
performance
Investment in work safety 63.2410,000 yuan
33?34Number of people trained in work
safety
4,052Work safety training duration108HourNumber of work safety emergency
drills
Number of participants in work
safety emergency drills
Number of production accidents0
Quality and service
performance
Number of newly authorized patents
in the year
29?30, 33?34Rate of qualified products99.93%
Customer satisfaction99.75%