2023 Environmental, Social and
Governance (ESG) Reportof Zhejiang Weiming Environment Protection Co., Ltd.
WeimingEnvironment
Stock name: Weiming Environment ProtectionStock code: 603568
CONTENTS
Rigorous CorporateGovernance & SteadyOperation
Improving Corporate Governance 15Internal Control and Risk Management 18Compliance and Business Ethics 19Privacy Protection and Information Security 21Feature: ESG Management 24Long-term Layoutand InnovativeDevelopment
R&D and Innovation 29Feature:Focusing on the MainBusiness,Keeping InnovativeDevelopment 32Supply Chain Management 35
About WeimingEnvironment Protection
Message from the President 03Corporate Prole 05Milestones 07Corporate Honor and Culture 09
Harmonious Win-win,Building a Better Future
Social Welfare 69Rural Revitalization 70
Appendix
About This Report 71Key Performance Table 72Index of Indicators 77Feedback 79
Committed to Protectingthe Green Home
Improving Environmental Management 39Tackling Climate Change 40Resource Management 43Treatment of“Three Wastes” 45Green Operation 47Respecting Employees toBuild a People-OrientedEnterprise
Regulating Labor Relations 53Protecting Employee Rights and Interests 54Employee Cultivation 56Employee Welfare 61Occupational Health and Safety 64
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
About WeimingEnvironmentProtection
2023 Environmental, Social and Governance (ESG) Report of Weiming Environment Protection
Message from the PresidentCorporate ProleMilestonesCorporate Honor andCulture
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Message from the President
2023 was a year in which Weiming Environment Protection made continuous breakthroughs. The
company's Environment Protection Group, Equipment Group and New Energy Group were established oneafter another. They not only maintained their independent operations, but also worked together to establisha lot of synergy. As the cornerstone of the company, Environment Protection Group signicantly enhancedits protability with scientic management and advanced equipment. In 2023, it put additional waste-to-energy incineration projects and kitchen projects into operation, and the scale of project commissioning hit arecord high. Equipment Group realized breakthroughs in the area of new material equipment and expandedoverseas markets with its core technology and R&D strength. After one year's preparation, New EnergyGroup's projects at home and abroad were entering the stage of equipment installation, and the industrialchain layout was gradually perfected, injecting new vitality into the company's future development.2023 was a year in which Weiming Environment Protection accumulated its strength. The globaleconomic landscape is undergoing major changes unseen in a century, and the economy at home andabroad has shown unprecedented complexity and changeability, but we always believe that as longas we do practical work, we can still progress steadily even in tough environments. In February 2023,Weiming Environment Protection started to sign three overseas equipment supply contracts with GEM;In July, Weiming Environment Protection invested in the hydrometallurgical project with an annual outputof 20,000 tonnes of metallic laterite nickel ore; In November, Weiming Environment Protection signed afranchise agreement with Kunshan Municipal Management Bureau on the "Kunshan Renewable ResourcesComprehensive Utilization Project", to assist the city management of Kunshan, a top 100 county-level city interms of economic development in China.2023 was a year in which Weiming Environment Protection upgraded its business. The company gaineda lot of recognition, and was awarded the title of "Top 10 Enterprises with Comprehensive Strength inChina's Municipal Solid Waste (MSW) Incineration Industry", "Best Practice Case of Governance for ListedCompanies in 2023", "2022 Golden Bull Most Valuable Investment Award" and "Most Socially ResponsibleListed Company of the Year". Besides, it was also selected as one of the "2022 China Top 500 NewEconomy Enterprises" and ranked 168th, a signicant boost of more than 100 places from the previous list.2023 was also a year in which Weiming Environment Protection insisted on green development andkept enhancing ESG management. In terms of governance structure, the company reorganized the
Board Strategy Committee and renamed it as the Board Strategy and ESG Committee, and established anintegrated management framework consisting of the Board of Directors, the Strategy and ESG Committeeand the Ofce of the Strategy and ESG Committee. The company continued to strengthen its complianceand business ethics system, improve relevant policies, optimize monitoring and reporting mechanisms,and also conduct a lot of business ethics training to reduce compliance risks for itself, and its relevantstakeholders and partners. In terms of the environment, the company set targets to address climatechange, implemented effective measures to reduce greenhouse gas emissions, widely applied cleanand renewable energy technologies such as waste-to-energy incineration, biogas power generation andphotovoltaic power generation, and kept building environmental protection education bases to popularizeenvironmental protection. In terms of social contribution, the company remained committed to reinforcingthe occupational health and safety system for employees, respected and advanced employees' rights andinterests, implemented diversied employee training and care programs, and took an active part in publicwelfare and charitable activities of poverty alleviation, education assistance, elderly care, assistance andsupport, and rural revitalization.Looking back on 2023, Weiming Environment Protection was based on struggle and propelled byinnovation, and all its employees stuck to their responsibilities, in more than 20 provinces (autonomousregions and municipalities directly under the central government) such as Heilongjiang, Tibet, Yunnan andZhejiang and so on, ensuring the stable operation of nearly 100 environmental protection projects. In themeantime, the team was expanding overseas business and contributing to the company's new projectsin Southeast Asia. With the drive of innovation and unremitting efforts, Weiming Environment Protectionachieved fruitful results in 2023 and laid a solid foundation for the development in 2024, so that it can bepoised to move forward towards a better future!
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Corporate Organization ChartNote
: As of December 31, 2023. .
Zhejiang Weiming Environment Protection Co., Ltd. (hereinafter referred to as "Weiming Environment Protection" orthe "company") is one of the largest low-carbon environmental protection service providers in China. Listed in the mainboard of Shanghai Stock Exchange (SSE) Market in 2015, the company has been elected as a constituent stock forShanghai Stock Exchange 380 Index and an underlying stock for Shanghai-Hongkong Stock Connect, and it also hasbeen included in the A-shares of MSCI China, the S&P Dow Jones Indices, and FTSE Russell.The company's main business covers environmental governance, equipment manufacturing and new energy materials.During the reporting period, the company set up Environment Protection Group, Equipment Group and New EnergyGroup as the three main business entities to form a pattern of coordinated development of the group's business.Weiming Environment Protection Group Co., Ltd. (hereinafter referred to as "Environment Protection Group") is aleading MSW incineration treatment enterprise in China, centering on waste incineration business, covering the entireindustrial chain of MSW waste-to-energy incineration industry, including environmental protection project investment,construction and operation. The company's environmental protection projects cover over 20 provinces (autonomousregions and municipalities directly under the central government) in China, and nearly 100 environmental protectionprojects are invested, constructed and operated. The company focuses on the waste-to-energy incineration business,and co-processes kitchen waste, sludge, agricultural and forestry waste, and general industrial solid waste. It boasts richexperience in project investment, construction and operation, effective cost control, stable project operation and leadingpower generation efciency in the industry.Weiming Environment Protection Equipment Group Co., Ltd. (hereinafter referred to as "Equipment Group") mainlyworks on technological research and equipment development of environmental protection equipment and new materialequipment. It has its own complete equipment manufacturing industry base, as well as industry-leading completeequipment R&D capabilities and technical levels. Through independent R&D of core complete waste treatmentequipment, as well as nickel metal pyrometallurgical and hydrometallurgical equipment, it provides complete equipmentsolutions to its environmental protection projects, new energy material projects, and external customers.Zhejiang Jiawei New Energy Group Co., Ltd. (hereinafter referred to as "New Energy Group") concentrates on theupstream and downstream business of ternary cathode materials for batteries, makes integrated investment in newenergy materials, and provides products mainly including high nickel matte, battery-grade nickel sulfate, ternaryprecursors for power batteries, and ternary cathode materials for power batteries. The company intends to invest inthe construction of a high nickel matte containing metallic nickel project with an annual output of 130,000 tonnes inIndonesia and a lithium battery new material project with an annual output of 200,000 tonnes in China.
Corporate Prole
Zhejiang
WeimingEnvironmentProtection Co.,Ltd.
Board of Supervisors
Remuneration andAppraisal CommitteeStrategy and ESGCommitteeNomination CommitteeAudit CommitteeTechnical Committee
Corporate Sectors
EnvironmentProtection Group
EquipmentGroup
New EnergyGroup
Board Secretary
General Meeting of ShareholdersBoard of Directors
CEO’s Ofce
Internal Audit DepartmentOfceHR Department
Marketing DepartmentInvestment DepartmentPlanning and FinanceDepartment
Securities and LegalDepartment
Planning and InformationDepartment
Subsidiary of EnvironmentProtection Group
Subsidiary of EquipmentGroup
Subsidiary of New EnergyGroup
Milestones
In November, Wenzhou Dongzhuangwaste-to-energy incineration project wasunder construction and was completedand connected to the grid in November ofthat year, which was regarded by expertsof the Ministry of Construction as "the ?rstmilestone in the development of China'slocalized waste incineration treatmenttechnology and facilities".
In April, Wenzhou Linjiang waste-to-energy incineration projectkicked o?, and was completedand connected to the grid in Aprilof the following year, becominga demonstration project of theNational 863 Program on completetechnology and equipment for MSWincineration.
In April, the ?rst national seminaron MSW incineration technology co-organized by Weiming and ChinaAssociation of Urban EnvironmentalSanitation was held in Wenzhou.
In July, Weiming became the?rst enterprise in China toobtain the Grade A quali?cationcerti?cate for the operation ofMSW in environmental pollutioncontrol facilities of the Ministry ofEnvironmental Protection.
In September, the "HWMM two-stagereciprocating waste incinerator grateand ?ue gas treatment device" projectwas selected as a China Torch Programproject. The project had completeindependent intellectual property rights,?lling the gaps of related technologiesand second phase products in the areaof waste-to-energy incineration in China.
In September, Premier Li Qiang attended the dinnermeeting of Indonesian business community and metwith representatives of the business community of thetwo countries such as Mr. Xiang Guangming.
In May, Weiming Environment Protectionwas listed in the main board marketof SSE, becoming the ?rst wasteincineration treatment enterprise listedthrough IPO in the Chinese securitiesmarket.In July, Weiming entered the area ofkitchen waste treatment by signing thecomprehensive kitchen waste treatmentproject in Wenzhou.
In December, the waste incineration project inQionghai City, Hainan, contracted by Weimingto provide general contracting and operationservices, was completed and put into operation.
From January to September, Weiming invested in threehigh nickel matte projects in Indonesia, with a totalscale of 130,000 tonnes of high nickel matte containingmetallic nickel per year. At the same time, Weiminginvested in a project with an annual output of 200,000tonnes of cathode materials together with TsingshanHolding, Chengtun Mining and Sunwoda in Wenzhou,forming an upstream and downstream industrial e?ectwith the high nickel matte project in Indonesia.
In December, three major industrial groups of EnvironmentProtection Group, New Energy Group and Equipment Group underWeiming Environment Protection were formally established.
In January, the production base ofcomplete environmental protectionequipment in Wenzhou Binhai Parkwas put into use.
In December, the company signed a capital increaseagreement with Shaanxi Environmental ProtectionIndustry Group and acquired 66% shares of GuoyuanEnvironmental Protection, a subsidiary of ShaanxiEnvironmental Protection Industry Group.
In November, Weiming signed a franchise agreement on the“Kunshan Renewable Resources Comprehensive UtilizationProject”, with a total investment of about RMB 1.478 billion and afranchise period of 30 years.
In May, the complete 600 tonnes/daymulti-row two-stage reciprocatingMSW incineration boiler developed byWeiming was awarded the "NationalKey New Product Certi?cate" by the fournational ministries and commissions.
20002002200420052006
2023
2015
2009
20222023
2013
2023
2012
In May, Phase 2 of Jiangsu KunshanWaste-to-Energy Incineration Project wasconnected to the grid, becoming a high-quality project of comprehensive utilizationof resources recycling in Jiangsu Province;the ?rst of the "Top 10 Typical Cases ofChina's Waste Treatment in 2010" rated bywww.solidwaste.com.cn. Phase 2 of theproject was registered by the United Nationsas a Clean Development Mechanism.
2010
In August, Yongqiang Waste-to-Energy Incineration Project (Phase
2) was formally awarded the title of the national "AAA Grade MSW
Incineration Plant".In November, Singapore Weiming was founded, and the companyaccelerated its overseas business expansion.In December, Wenzhou Jiawei Environmental ProtectionTechnology Co., Ltd. was certi?ed as a national high-techenterprise; Weiming big data collection and monitoring system (SIS)was o?cially launched.
In September, Shengyun’s reorganization investmentagreement was formally signed. Weiming EnvironmentProtection, as a reorganization investor, further openedup incremental market space.In March, Weiming Environment Protection Equipment Co., Ltd. wasrecognized as a provincial enterprise research institute in ZhejiangProvince.In April, the company's 2019 annual report showed that in the?ve years since its listing, the company's revenue and net pro?tincreased by more than 300% in total.In May, Weiming High-end Environment Protection Industrial Park(Phase 1) project was launched, and the company's equipmentmanufacturing would be fully upgraded.
In January, Weiming set up an intelligentenvironmental sanitation sector, and enteredthe business area of urban and rural sanitationintegration.In March, Weiming’s water treatment researchproject won the ?rst prize of Shanghai Science andTechnology Progress Award.In December, Weiming Environment Protectionpublicly issued RMB 670 million of convertiblecorporate bonds, which were listed and circulatedon the SSE.
In May, the waste-to-energyincineration project in Jieshou Citywas signed, and Weiming began tomove towards the central region ofChina in terms of project layout. Inaddition to MSW waste-to-energyincineration, the company wouldalso be involved in the treatmentof agricultural and forestry wastessuch as straw in the project.
2019202120202021
20182016
2023 Environmental, Social and Governance (ESG) Report of Weiming Environment ProtectionWeimingEnvironmentProtection
Stock name: Weiming Environment ProtectionStock code: 603568
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Awarded the title of the MostSocially Responsible ListedCompany of the Year inthe 2023 by Capital PowerAnnual Awards by Stockstar
MainAchievements
Awarded the title of the Top100 Listed Companies inESG by the 16th Awardsof the Value of ListedCompanies in Chinaorganized by SecuritiesTimes
Awarded the "Special Contribution to Corporate GovernanceAward" in the 18th Round Table Awards
Equipment Groupwas awarded thetitle of "OutputValue Exceeds 2Billion Yuan forthe First Time"in Wenzhou BayNew Area andLongwan Districtin 2023
Equipment Groupwas awardedthe title of "StarEnterprise" ofWenzhou BayNew Area andLongwan Districtin 2023
Awarded the title of theTop 100 Most ValuableMain Board ListedCompanies in the 17thAwards of the Valueof Listed Companiesin China organized bySecurities Times
Awarded the title of theGolden Bull Most InvestmentValue in the 25th Golden BullAward for Listed Companiesorganized by ChinaSecurities Journal
Awarded the Certicate ofBest Practices in CorporateGovernance in 2023 byChina Association for PublicCompanies (CAPCO)
Awarded the title of the Top 10 Enterprises withComprehensive Strength in China's MSW Incineration Industry
Corporate Honor and Culture
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Wuyi Weiming Environment Protection Energy Co., Ltd. washonored as an Advanced Unit of Urban Sanitation Service
MainAchievements ofSubsidiaries
Ningjin Power Plant was awarded the title of "Grade AEnterprise of Environmental Protection Performance in KeyIndustries in Hebei Province"
Wenzhou Weiming EnvironmentProtection Energy Co., Ltd. wasawarded the title of "Zhejiang High-tech Enterprise R&D Center"
Tongcheng Power Plant was awardedthe title of "Advanced Unit in WorkSafety"
Shengyun was awarded the title of"Large Taxpayer" of Tongcheng Cityfor the year of 2023
Mengyin Power Plant won the "Award of Excellence" for theecological environment of Mengyin County in 2023
Linhai Power Plant was honored as "OutstandingIndustrial Enterprise in 2023"
Value of Weiming
Mission of Weiming
Vision of Weiming
Integrity: Always be honest with customers, leaders,and colleagues, as honesty and trustworthiness are thefoundation of human being.Innovation: Constantly putting forward new ideas,continuously improving work, and insisting on innovationare fundamental to development of the business.
Professionalism: Devote ourselves to our work,love our job, persevere, and become experts in ourrespective areas.Enterprising: Positive and optimistic mentality to faceand overcome difculties, unity, mutual help and love.
To create clean, healthy, and sustainable living environment for human beings.
Continuously provide the society with rst-class low-carbon environmental protection technology, products andservices.
Net assets attributable to the parentcompany in 2023RMB
11.10
billionYear-on-year growth
18.21
%
Operating income in 2023RMB
6.03
billionYear-on-year growth
34.66
%
Core Performance in 2023
Net cash ow from operatingactivities in 2023RMB
2.32
billionYear-on-year growth
5.52
%
Net prot attributable toshareholders in 2023RMB
2.05
billionYear-on-year growth
23.09
%
Basic earnings per share in 2023RMB
1.21
Year-on-year growth
23.47
%
Total assets in 2023RMB
24.10
billionYear-on-year growth
18.51
%
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Rigorous CorporateGovernance & SteadyOperation
Weiming Environment Protection keeps improvingthe standardization and effectiveness of corporategovernance and strictly complies with national lawsand regulations and relevant industry standards. Thecompany has formulated and implemented a seriesof internal control and risk management measuresto ensure operational compliance and transparency.Meanwhile, the company attaches great importanceto the quality and efficiency of information disclosureto ensure that important information is communicatedto all stakeholders in a timely, accurate andcomprehensive manner. In terms of business ethics,Weiming Environment Protection adheres to highstandards, continues to strengthen its integrity andself-discipline mechanism and education and trainingsystem, and is committed to promoting its sustainableand healthy development through practical actions andcreating long-term value for all stakeholders.
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2023 Environmental, Social and Governance (ESG) Report of Weiming Environment Protection
Improving CorporateGovernanceInternal Control and RiskManagementCompliance and BusinessEthicsPrivacy Protection andInformation SecurityFeature: ESG Management
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Improving CorporateGovernanceThe company follows the“Company Law of the People's Republic of China”, the“Securities Law of the People'sRepublic of China”, the“Code of Corporate Governance for Listed Companies”and the relevant regulations of the ChinaSecurities Regulatory Commission and other regulatory bodies, and effectively implements the internal regulations suchas the“Articles of Association”and the“Rules of Procedure for the General Meeting of Shareholders”. The companycontinues to optimize its corporate governance structure, proactively standardizes its operational processes, and iscommitted to reducing operational risks and ensuring the efcient operation of its corporate governance structure.
Operation of the Board of Directors, Board ofSupervisors and General Meeting of ShareholdersThe General Meeting of Shareholders, as the supreme authority of the company, has the decision-making powerin accordance with the law on major affairs, including business strategies, fund raising, investment decisions andprot distribution. The Board of Directors is accountable to the General Meeting of Shareholders and consists of theNomination Committee, the Audit Committee, the Remuneration and Appraisal Committee and the Strategy and ESGCommittee. Each of these committees has formulated clear working rules as well as organizational structure and scopeof responsibilities, and they report their work progress to the Board of Directors on a regular basis to ensure that thecompany's operations are standardized, effective and orderly.The Board of Supervisors strictly elects supervisors in accordance with the relevant regulations such as the“CompanyLaw of the People's Republic of China”and the“Articles of Association”. The Board of Supervisors consists of threesupervisors, including one employee representative. In accordance with established regulations such as the“Articlesof Association”and the“Rules of Procedure of the Board of Supervisors”, the Board of Supervisors is accountableto all shareholders of the company in accordance with the law, and supervises the nancial status of the company aswell as the legality and compliance of the performance of duties by directors, managers and other senior managementpersonnel, to ensure that the lawful rights and interests of the company and its shareholders are safeguarded.
Zhejiang Weiming Environment Protection Co., Ltd.
General Meeting of
Shareholders
Board of DirectorsBoard ofSupervisors
Remuneration andAppraisal CommitteeStrategy and ESG
CommitteeNomination Committee
Audit CommitteeBoard Secretary
Corporate Governance Structure
Diversity of the Board of Directors
Dividends to Shareholders
Data Performance
During the reporting period,The company held 1 Annual General Meeting of Shareholders, 3 Extraordinary General Meetings ofShareholders, 21 Board of Directors Meetings, 15 Board of Supervisors Meetings and 11 SpecialCommittee Meetings.
During the reporting period, the company revised the“Rules of Procedure of the Board of Directors of Zhejiang WeimingEnvironment Protection Co., Ltd.”, the“Working System for Independent Directors of Weiming Environment Protection”,the“Working Rules of the Board Audit Committee of Weiming Environment Protection”, the“Working Rules of theBoard Nomination Committee of Weiming Environment Protection”, the“Working Rules of the Board Remunerationand Appraisal Committee of Weiming Environment Protection”and the“Working Rules of the Board Strategy and ESGCommittee of Weiming Environment Protection”to enhance the standardization and effectiveness of the corporategovernance structure.During the reporting period, the company revised the remuneration packages for directors, supervisors and seniormanagement, based on their specic positions, with remuneration consisting of positional salary and performance salary,and the performance portion was granted after appraisal in accordance with the respective position and the companyregulations. Independent directors are additionally entitled to a xed allowance of RMB 180,000 (before tax)/year, whilenon-independent directors and supervisors do not receive any additional allowance.
The company's Board of Directors takes into account key factors such as the candidate's job qualifications andindependence when making appointments, and selects the most suitable candidates for each position based on theprinciple of diversity. During the selection process, the company not only considers diverse dimensions such as age,gender, cultural background, educational experience, professional skills, academic qualifications, years of serviceand ethnicity, but also ensures that an appropriate balance of skills and experience is maintained, thus enhancing theeffectiveness of the Board of Directors and guaranteeing the effective operation of the Board of Directors.The company's Board of Directors consists of nine members, including one female director and three independentdirectors. The provision of objective and independent advice by independent directors in the decision-making process ofthe Board of Directors plays a positive role in enhancing the rationality and fairness of its decision-making and helps toprotect the legitimate interests of all shareholders.
Since its listing, the company has implemented a robust and continuous dividend policy based on earnings and businessdevelopment while steadily boosting its economic returns. The company successfully organized the 2022 Annual GeneralMeeting of Shareholders in June 2023, at which the “2022 Prot Distribution Plan” was considered and approved. TheGeneral Meeting of Shareholders decided that the company would distribute a cash dividend of RMB 1.5 (includingtax) per 10 shares to all shareholders in 2022 on the basis of the total share capital registered on the date of shareregistration for the implementation of the equity distribution by using the undistributed prots. The equity distribution wascompleted on July 14, 2023, with a total cash dividend of approximately RMB 256 million (including tax) distributed.Note: As of December 31, 2023
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Disclosure of Information
Investor Communications
The company has formulated the“Information Disclosure System”
in strict accordance with the“Articles of Association”, the“Measuresfor the Administration of Information Disclosure by ListedCompanies”and the relevant regulations of the China SecuritiesRegulatory Commission and the SSE to ensure that investors havethe right to be informed of the company's material matters.The company has proactively and continuously disclosedinformation to the capital market and the public according tothe law, fulfilled its information disclosure obligations in strictaccordance with the requirements of laws and regulations, andensured that the contents of the announcements are accurate andfree from misleading statements or omissions. The company hasreleased visualized summary of periodic reports through WeChatpublic account in a timely manner, which facilitates investors tograsp the company's dynamics. During the reporting period, thecompany tried for the first time to introduce its operating resultsby video in its periodic report performance presentation, whichbrought investors closer to the company and demonstrated thediversified innovations practiced by the company in informationdisclosure. During the reporting period, the company's annualinformation disclosure on the SSE was rated A.
The company has advocated the concept of value investment, respected and wholeheartedly served investors, andbeen committed to enhancing investor relationship management in order to strengthen the market image and improvecorporate value. During the reporting period, the company regularly organized and received institutional investors foronline and ofine research activities. After the release of periodic reports, the company held timely conference calls tointeract with investors and provide answers to relevant questions. Meanwhile, the company attended investor strategymeetings organized by brokerage rms and answered investors’ questions and inquiries through the SSE E-interactiveplatform and the company's email address in a timely manner. The company disclosed key information of investorrelations activities to the market in a timely manner through the release of the "Record Sheet of Investor RelationsActivities" to ensure fair treatment to all investors.
Rated A for the company's informationdisclosure on the SSE for the years 2022-2023
Data PerformanceKey results of information disclosure in 2023Prepared and disclosed 118 interim announcements and reviewed the information released by thecompany to the public.Disclosed the 2022 annual report, the 2023 Q1 report, the 2023 semi-annual report, and the 2023 Q3report.Rated Grade A for information disclosure on the SSE.
Data PerformanceKey results of investor communication in 2023
Organized on-site reception for 6 researchactivities;Participated in 8 investor strategy meetingsorganized by ofine brokerage rms;Answered 39 questions on SSE E-interactive.
Conducted 9 online telephoneexchanges,Attended 5 fund companyroadshows;
Internal Control and RiskManagementThe company has continued to optimize its internal control structure, systematically constructed internal controlmechanisms, and intensied the supervision of internal audits. The company has conducted a comprehensive review ofthe functions and responsibilities of the Board Audit Committee and the Internal Audit Department. The company hasissued the “Rules for Internal Audit Reporting” to elevate the efciency and effectiveness of the Internal Audit Departmentin supervising the implementation of the company's internal control system, so as to ensure that the company's businessactivities strictly comply with the requirements of the internal control system and achieve effective governance and stableoperation of the company.During the reporting period, the company organized and implemented a series of training on internal audit to better theprofessional capabilities and operational standards of the Internal Audit Department. The training covered the specicduties of the Internal Audit Department, effective reporting and monitoring mechanisms, as well as the identicationand prevention of various types of violations that may be encountered in operations. Through the training, the companyaimed to reinforce its internal oversight system, ensure compliance in its operations, and provide a solid foundation formaintaining a sound corporate governance structure.
False reimbursement: False reporting of personal expenses (transportation,
accommodation, etc.), personnel expenses, activity expenses, etc.Illegal disposal of property: Illegally disposal of company property that is legally
held and managed (gifting, buying, selling, hiding).
Common Scenarios of Misappropriation Offenses
Misappropriation
Misappropriation of receipts: Illegal appropriation of receipts for personal usewithout accounting for them.
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Compliance and BusinessEthicsThe company places great emphasis on the establishment of a culture of integrity and strives to regulate variousbusiness behaviors and ethical standards in its operation process, rmly creating a fair, honest, upright and conscientiouscorporate atmosphere.Anti-Corruption Management Systems and Regulations
Anti-Corruption and Anti-Bribery Training
Reporting and Monitoring Mechanism
The company strictly abides by the“Anti-Corruption Law of the People's Republic of China”, the“Anti-UnfairCompetition Law of the People's Republic of China”, and all applicable laws and regulations of the countries and regionsin which it operates, and has formulated the“Anti-Corruption and Anti-Commercial Bribery Management System ofZhejiang Weiming Environment Protection Co., Ltd.”The company devotes itself to building and improving processesand systems for integrity and compliance, and has implemented a series of specic measures. These measures includeclarifying the key ways to prevent commercial bribery, elaborating on the types of commercial bribery and their preventionstrategies, and requiring employees in key positions to sign the "Commitment Letter on Anti-Corruption and Anti-Commercial Bribery", so as to ensure that our subsidiaries around the world can implement integrity and compliance.
The company upholds the core value of integrity and self-discipline and is committed to building a sound anti-corruptioneducation system. To enhance the anti-corruption awareness and capability of middle and senior management, thecompany has adopted diversied training methods, including on-site lectures, remote online lectures and video courses,to ensure effective delivery and wide coverage of the training content. During the reporting period, the companyorganized three thematic training conferences focusing on important topics of anti-corruption and anti-bribery. Thecumulative number of participants in the training exceeded 50, all of whom were middle and senior managers of thecompany.
The company advocates and supports employees and stakeholders to complain and report to the Internal AuditDepartment for any behavior that damages the company's image and interests (including but not limited to favoritism,corruption and bribery, party afliation, internal and external collusion, as well as any violation of laws and regulations).To standardize the process of complaints and reports, the company has set up convenient reporting channels, includinge-mail and telephone hotlines, in line with the relevant management system.The company requires that all complaints and reports be received and handled by dedicated personnel, and prohibitsunauthorized personnel from participating in the reception, observing, inquiring or recording relevant information. Wheninvestigating and verifying the contents of the report, the company will select an appropriate location and time to facilitatethe cooperation of the whistleblower on the premise of protecting privacy.
The company implements an anonymous reporting system to ensure the condentiality of all complaints and reports,and all relevant documents are kept strictly condential to the extent permitted by law. The company remains resolutelyopposed to any form of retaliation against complainants or whistleblowers and will take necessary measures to protecttheir rights and interests.Accept anonymouscomplaints andreports
No one is allowed to copy,duplicate or excerpt from allcomplaint materials
The information of the whistleblower must be keptstrictly condential, and the scope of those whoknow it must be controlled. Complaints receivingstaff should receive relevant training and sign acondentiality agreement before starting work
Case return visit: After the case is handled, theemployee will be visited every month to conrmwhether there is retaliation
Reporting ChannelsReport phone: 0577-86056018-6389E-mail: wmhbnsb@cnweiming.comOffline reporting channels: Each constituent company should
publicize the internal audit supervision and reporting channelsin the canteen, bulletin board and other ofce areas for a longtime.
Whistleblower protection measures
Intervene promptly to protectwhistleblowers when they aresubjected to retaliation, andstrictly penalize retaliationagainst whistleblowers
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Anti-corruption of suppliers and contractors
Anti-monopoly and fair competition
Privacy protection
To ensure compliance of procurement activities and prevent improper benets, the company has fully promoted thesigning system of“Supplier Integrity Cooperation Commitment Letter”, requiring all suppliers to sign the commitmentbefore signing contracts. The commitment letter clearly stipulates the responsibilities and obligations of suppliers,as well as strict punishment measures for violations, aiming to standardize the behaviors of suppliers and effectivelyreduce compliance risks in the procurement process. During the reporting period, no corruption was found in any of thecompany's procurement activities.
The company strictly complies with the“Anti-Monopoly Law of the People’s Republic of China” and relevant anti-monopoly laws and regulations in its operating jurisdiction. Detailed reviews of all business activities are conducted, andinformation is disclosed in accordance with prescribed standards. The company has established an efcient monitoringand enforcement system, implementing strict management of transaction amounts. Through fair and transparentevaluation procedures, it ensures the legality and compliance of all commercial transactions. No violations of anti-monopoly laws were found in the company during the reporting period.The company strictly adheres to the provisions of "Anti-unfair Competition Law of the People’s Republic of China”,prohibiting employees from engaging in activities such as commercial espionage, bribery, theft, eavesdropping, orspreading false information about competitors, their products, or services. The company is committed to maintaininga healthy functioning of the economic order and steadfastly upholding the principle of fair competition, eliminating anyform of unfair competition. During the reporting period, neither the company nor its employees encountered any legalproceedings arising from violations of the anti-unfair competition laws.
The company utilizes a human resources (HR) information system to manage employees' personal information. The HRDepartment is responsible for inputting and updating employee data through the system, and ensuring the accuracyand integrity of the information entered. Once information is inputted, the related department heads will verify the lledinformation to ensure data accuracy and compliance with relevant regulations. To ensure the security of employees'personal data, the company has implemented multiple technical and organizational measures to safeguard informationsecurity.
Privacy Protection andInformation Security
The company places great emphasis on information security and customer privacy protection, and complies withrelevant laws and regulations such as the“Cyber Security Law”,“Data Security Law”, and“Personal InformationProtection Law”, rmly upholding its responsibility for network security protection. Throughout the process of collectingand using personal information, the company adheres to the principles of legality, legitimacy, and necessity to ensure thesecurity and compliance of personal information.
Information security
The company adheres to ensuring information security, safeguarding the interests of customers, employees, andpreventing itself from cyber threats, and has established sound network security management regulations and systems.The company effectively controls security risks and ensures data security and business continuity by implementingmeasures such as rewalls, data backup and disaster recovery, security monitoring, and network patrols. Simultaneously,the company actively engages in local cyber security drills to bolster its ability to respond to and mitigate security threatsthrough practical simulations, thereby enhancing its employees’cyber security awareness. In the future, the companywill continue to keep the progress of security technology, continuously refining security strategies, and ensuring theintegrity and reliability of the network environment.
Authentication and access controlmechanisms are implemented inthe system to restrict access andmodication of employees' personalinformation to authorized personnelonly.
The company strengthens training forpersonnel managers and departmentheads to raise their awarenessand importance of personal dataprotection.
The system employs encryptiontechnology to safeguard the security ofdata during transmission and storage.
The company conducts regular reviewsand updates of the security measuresin the personnel system to ensurethat permissions align with actualcircumstances.
Privacy protection-related measures
Information security management measures
Data security managementThe company uses systempermissions to restrict non-company users from accessingand operating data, ensuringthat only authorized personnelcan access and processsensitive data.
Hardware meansThe company uses hardwaremethods such as VPN toencrypt network communication,ensuring the security of dataduring transmission. VPN canestablish secure channels, encryptdata transmission, and preventunauthorized access and theft.Information management
engineersThe company hiresprofessional informationmanagement engineers whoare responsible for formulatingand implementing datamanagement strategies,standardizing data collection,storage, and use, and handlingdata security incidents.
Information security trainingThe company has organizedinformation security training toenhance employees' awareness ofcyber security and prevention.
Information
securitymanagementmeasures
2324
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Online training on information security for subsidiary management
During the reporting period, the company actively participated in a city-wide cyber security attack and defensedrill organized by the Office of the cyber security and Information Technology Committee of the WenzhouMunicipal Committee. In the face of large-scale network attacks, the company's IT team successfullydefended against over 5,500 attacks by strengthening rewall rules, upgrading system security patches, andestablishing real-time monitoring and warning mechanisms. The company achieved a perfect score. This drillvalidated the effectiveness of the company’s security protection measures and improved the teamwork of theIT department. In the future, the company will institutionalize real-time monitoring and warning mechanisms tofurther enhance its network security protection capabilities.
CaseCyber Security Battle: All-win Record in Cyber Security Attack and Defense Drills
Feature: ESG Management
The goal is to meet the needs of the company's strategic development, improve the investment decision-makingprocess, and enhance the scientic nature of decision-making, the efciency and quality of major investment decisions,and the company's management capabilities in environmental, social, and governance (ESG) aspects. During thereporting period, the company renamed the Strategy Committee of the Board of Directors to the Board Strategy andESG Committee in accordance with the“Company Law of the People’s Republic of China”,“Governance Standards forListed Companies”, and“Articles of Association of Zhejiang Weiming Environment Protection Co., Ltd.”. The membersof the Board Strategy and ESG Committee are nominated by the President, more than half of the independent directors,or one-third of all directors, and elected by the Board of Directors; The committee serves as a specialized body forresearch, development, and planning of strategic and ESG-related matters within the company.The Board Strategy and ESG Committee is a specialized committee established under the board of directors of thecompany. Its main responsibilities include conducting in-depth research and evaluation of the company's long-termdevelopment strategies, key investment decisions, sustainable development plans, and matters related to ESG affairs.Under the guidance of the committee chairman, the committee fullls its duties and reports progress to the board ofdirectors, taking responsibility for the outcomes of its work. The Board Strategy and ESG Committee has an ofce,whose specic functions are undertaken by the company's Planning and Information Department, tasked with specicfunctions.
Board of Directors
Develop a sustainable development strategyfor the company;Approve the company's sustainabledevelopment strategy, major projects, andrelated work plans.
Ofce of the Strategy and ESGCommitteeFormulate and implement relevantpolicies and measures to supportthe implementation of sustainabledevelopment strategies;Coordinate the enhancement andmaintenance of the company's ESGrating;Coordinate ESG issues acrossvarious business sectors.
The Board Strategy and ESGCommitteeConduct research on the company'slong-term development strategicplanning and provide suggestions;Identify risks and opportunitiesrelated to the company's sustainabledevelopment;Propose ESG systems, workmechanisms, strategies, and goalsbased on the company's actualsituation.
ESG management architecture
2526
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Stakeholder communicationThe company fully recognizes the crucial importance of extensive and timely communication with all stakeholders.Therefore, it has established an efficient and standardized communication mechanism to ensure the continuity andeffectiveness of communication. Through diverse and efficient communication channels, the company can quicklyidentify and meet the needs and expectations of stakeholders, timely grasp and respond to their concerns and desires,thereby signicantly improving the effectiveness of the ESG management and more effectively fullling its responsibilitiesto all stakeholders.
ESG trainingIn February and September 2023, the company invited a third-party professional organization to conduct ESG rating-related training for the middle and senior management of the company. This was aimed at enhancing their understandingand practical abilities in ESG, and ensuring the company’s continuous progress and development in ESG aspects.
Management of material topicsDuring the reporting period, the company followed the principles of substance, completeness, and stakeholderparticipation and conducted in-depth interviews and questionnaire surveys for material topics based from theperspectives of stakeholders and the company itself, so as to comprehensively gather information on socialresponsibility. The company referred to industry experience and best practices both domestically and internationally, andconsidered national and international policies and standards that should be followed, while also taking into account thefocal points of internal and external stakeholders. Combining these considerations with the characteristics and strategicdirection of the company's industry, the company has gained a deep understanding of stakeholder expectations andsuggestions. Based on this foundation, the company conducted analysis on 16 material topics. Following a process ofidentication, evaluation, and review, the company has determined the highly material topics as the core focus for itsactions and reporting.
1400012000100008000600040002000
02000400060008000100001200014000
Importance to the enterprise development
Information securityand privacy protectionPublic welfare charityand volunteer service
BusinessethicsEmployee training and developmentOccupationalhealth and safetyCompliance operationsResponsible procurement
Risk management
Tackling Climate Change
Energy and resourcemanagementWaste managementGreen technologyPollution prevention
R&D innovationIndustry cooperation
Diversied and equalemployment
Importance to stakeholders
StakeholdersExpectations and requirementsResponse measuresShareholders/
investors
Compliance disclosure
Risk management
Convene shareholder meetingsReception of investor visitsRegularly disclose informationPerformance briengGovernmentand regulatoryagencies
Create employment opportunities
Business ethicsIndustry trends and policies
Hire personnel from the project locationComply with various laws and regulationsExchanges and cooperationSuppliers andother partners
Supply Chain ManagementIntellectual property protection
Open and transparent procurementBuild a green supply chainProtect intellectual property rights
Customer
Product quality and safetyCustomer satisfactionR&D innovationInformation security and privacy
protection
Strengthen product quality controlProvide high-quality and leading products
and servicesStrengthen privacy protection
StakeholdersExpectations and requirementsResponse measures
Employees
Employee rights and interestsEmployee careEmployee training and developmentEmployee health and safety
Protecting employee rights and InterestsDiversied employee activitiesProvide fair promotion channels and
employee trainingProvide a safe and healthy working
environmentSociety and thepublic
Social welfareRural revitalization
Support rural revitalizationCarry out mandatory environmentalprotection publicity activitiesCarry out charitable activities
2728
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Long-termLayout, InnovativeDevelopment
Weiming Environment Protection adheres to the corevalues of "integrity, professionalism, innovation, andenterprising", and upholds the mission of "creatingclean, healthy and sustainable living environmentfor human beings". It is committed to continuouslyproviding top low-carbon environmental protectiontechnologies, products, and services to society. Inthe context of pursuing carbon peak and carbonneutrality, the company actively promotes theexpansion of low-carbon environmental protectionbusiness and constructs a development system ofthree major business groups in environment protection,equipment manufacturing, and new materials. Atthe same time, the company continuously enhancesits supplier management capabilities and integratesESG risk management concepts into the supplychain management process to reduce the social andenvironmental risks faced by the entire industry chain.
2728
2023 Environmental, Social and Governance (ESG) Report of Weiming Environment Protection
R&D and InnovationFeature: Focusing on the MainBusiness, Keeping InnovativeDevelopmentSupply Chain Management
2930
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
R&D and Innovation
Research and innovation management
With strong technological R&D capabilities, the company has a R&D team composed of over 70% of professionaltechnical personnel with intermediate and senior professional titles, covering multiple elds such as thermal and electricalengineering, mechanical design, boiler technology, automation control, power engineering, environmental protection,metallurgy, chemical industry, etc. The core members of the R&D center have participated in multiple national-level"863 Program" projects and provincial key science and technology plans, accumulating rich experience in technologyproject management and implementation. The company's main products involve complete sets of waste treatmentequipment such as household waste incinerators, ue gas treatment systems, and automatic control systems, as wellas the design and development of new energy material equipment. The products developed and produced by thecompany are all adopted in Weiming's operational projects and exported overseas. With rich operational experience andyears of innovation, the company manufactures increasingly mature products. The company continues to maintain itsprogressiveness technology and equipment, and its products reach the international advanced level.
To strengthen the company's R&D and innovation management and promote technological development, the companyhas established the "R&D and Innovation Management Measures of Zhejiang Weiming Environment Protection Co.,Ltd". These measures clarify the relevant organizational structure and division of responsibilities for R&D and innovationmanagement, and establish the goals and strategies for R&D innovation. To further stimulate the innovative vitality ofscientic researchers, the company has also developed a performance evaluation and incentive mechanism for R&Dpersonnel.
R&D innovation management architecture
Technical Committee
Technical ManagementDepartmentSubsidiaries
Subsidiaries of each group are responsible for the implementationand execution of their respective R&D innovation projects. Theyare required to establish a project approval process and resultregistration account, which are centrally controlled by the technicalmanagement department of the afliated group.
The technical management departments of each group areresponsible for organizing, coordinating, checking and guiding thegroup's R&D innovation and development plan, annual executionplan for the R&D and innovation, group-level research andinnovation projects, specic implementation of the promotion andapplication of achievements.
As the core decision-making department for the company'sR&D and innovation, the Technical Committee is responsiblefor coordinating and formulating the overall R&D and innovationstrategic plan, determining the direction of key technologydevelopment, and approving major scientic research projects andtechnology introduction matters.
Data PerformanceDuring the reporting period,In 2023, the company invested RMB 99,873,100 in R&D funds, accounting for 1.66% of its operatingrevenue.The company's R&D team consists of 363 people.
Six measures to reward innovation
The goal of the company's research and innovation management is to deepen technological R&D and innovationactivities in environmental protection, equipment, and new energy materials, and ensures that the company'stechnological achievements continue to maintain an international advanced level and domestic leading position.The company is committed to building a comprehensive R&D and innovation management system, increasing R&Dinvestment in the mentioned key areas, and strengthening the cultivation and reserve of core technology teams. Inaddition, the company advocates for and implements diverse collaborative R&D models, continuously optimizingincentive mechanisms for research and innovation. To this end, the company has formulated practical and feasibleassessment and incentive regulations based on the development needs of each group. Diversied incentive measuresinclude but are not limited to providing career promotion channels, implementing performance bonuses, and awardinghonorary awards, to fully stimulate the enthusiasm and creativity of R&D personnel.
Innovation culture: the companyencourages employees to dare to try andinnovate. This can be achieved throughorganizing innovation competitions,establishing innovation teams, andencouraging employees to providesuggestions.
Industry-university research cooperation:
the company establishes closecooperative relationships with universitiesand research institutions to jointly carryout research and innovation activities.High-quality external resources areutilized to enhance the company's R&Dcapabilities and innovation level.Cross-departmental cooperation: thecompany encourages cooperationbetween different departments, breakingdown departmental barriers, promotinginformation sharing, and integratingresources. The company inspiresemployees' innovative thinking andpromotes cross-departmental projects.
Provide R&D facilities and resources:
the company provides employees withadvanced R&D platforms, includinglaboratories, experimental equipment,and consumables. It also offers necessarysupport and guarantees for employeeresearch and innovation activities.
Learning and training: the companyprovides training and learningopportunities for employees to enhancetheir research and innovation capabilities.This includes professional trainingcourses, attendance at industry seminars,and collaborations with universities andresearch institutions.
The mixer developed by the company is specically designed for efcient leaching inhydrometallurgy. Its core goal is to accelerate the leaching rate by optimizing energyinput, promoting reactions, and achieving uniform suspension of solid particles.Adhering to the high standards of hydrometallurgy, this mixer enhances heat andmass transfer efficiency while ensuring stable and reliable operation. In terms ofdesign, the mixer coordinates closely with the reactor body, taking into accountinternal components such as bafes, partitions, and heating coils to optimize owmixing effects, eliminate dead corners, and strictly control material residence time.The new mixer is particularly suitable for the treatment of laterite nickel ore, achievingenergy conservation and emission reduction, and reducing motor power.
CaseHigh-efciency mixers for hydrometallurgy
Reward regulations: the company hasestablished innovation reward regulationsto recognize and reward employees whohave achieved outstanding results inresearch and innovation.
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Adhering to scientic ethical norms
Intellectual property protection
Headquarters’ Securities and Legal Department
Each group's designated management unit
Subsidiaries
During the R&D process, the company upholds the principles of scientific integrity and ethical conduct, insists onresponsible innovation, respects intellectual property rights, ensures the authenticity and reliability of data, and strictlyprohibits academic misconduct. Following legal and regulatory requirements, the company conducts environmentallyfriendly technology R&D, fully considering the impact of products throughout their entire life cycle on the environment.The company attaches great importance to biosafety and human well-being, and does not sacrifice public healthand social interests in any project for short-term technical breakthroughs. Instead, it is committed to promoting theharmonious coexistence of sustainable development and technological innovation.
The company strictly observes laws and regulations, including the "Patent Law of the People's Republic of China," the"Copyright Law of the People's Republic of China," and the "Trademark Law of the People's Republic of China." It hasestablished the "Intellectual Property Management Measures of Zhejiang Weiming Environment Protection Co., Ltd." tostandardize the use of company patent technology, clarify the responsibilities of relevant management institutions, andregulate the entire process management of patent technology. Through these measures, the company is committed toprotecting its own intellectual property rights while respecting the intellectual property rights of others, making a positivecontribution to building a good intellectual property ecosystem.
Organize the formulation of intellectual property-related regulations;Guide, supervise, and inspect the company's intellectual property-related work;Establish an intellectual property le ledger.Organize the formulation of detailed rules and regulations for intellectualproperty matters of subsidiaries;Guide, supervise, and inspect the work related to intellectual property ofsubsidiaries;Manage the intellectual property archives of its subsidiaries;Report on intellectual property work to the headquarters' Securities andLegal Department.Subsidiaries of each group act as the main executors of intellectualproperty-related matters and are responsible for the development,application, registration, and registration of intellectual property.
Intellectualpropertymanagement
Data PerformanceAs of the end of the reporting periodAs of the end of the reporting period, the company has cumulatively obtained approximately 263 patentsand copyrights.
Intellectual property management structure
Completion of waste inventory
Year-on-year growthYear-on-year growthYear-on-year growth
Completion of municipal solidwaste inventory
Completion of power generationPerformance data for environmentalprotection business
11.76
million tons
26.27
%
25.98
%
21.10
%
11.20
million tons
3.16
billion kWh
Feature: Focusing on the MainBusiness,Keeping Innovative DevelopmentBased on the steady maturity of the company's traditional environmental protection business, the company activelyexpands into other low-carbon environmental protection business areas. By participating in related business areas suchas nickel smelting and battery material manufacturing, it has opened up new business growth points. Given the certaincommonality in production technology between high nickel matte pyrometallurgy and waste-to-energy incineration,the company is able to utilize its existing mature technologies and rely on its talent advantages to ensure the rapidconstruction and commissioning of new material manufacturing capacity. The commissioning of new material productioncapacity will bring further optimization to the company's revenue structure, open up space for profit growth, andultimately expand and enhance the company's overall business scale.Steady progress in environmental protection businessIn 2023, the Chengjiang, Minqing, Wuping, Shuangyashan, Lulong, Luodian, Pucheng, Jiahe, and Qinhuangdaoprojects under the company's portfolio have been ofcially put into operation. As of the end of the reporting period, thecompany's investment and control of waste-to-energy incineration projects in operation and trial operation amountedto a total of 49, with one in trial operation, achieving an overall operational scale of about 34,200 tonnes per day.Regarding kitchen waste treatment projects, the Chengjiang and Wuping kitchen waste projects have been ofcially putinto operation within the reporting period, while the Dongyang, Pucheng, Zhangshu, and Wuyuan kitchen waste projectshave been put into trial operation.
As of the end of the reporting periodThe company has invested in and holds a total of 49 waste incineration power projects, including onein trial operation, with an operational scale of approximately 34,200 tonnes per day (excluding projectswith minority stakes and those operated under contract).
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Equipment business set new highsThe Equipment Group under the company is a national high-tech enterprise and has been awarded the title of ZhejiangProvincial Enterprise Research Institute. This group specializes in providing R&D, manufacturing, sales, and technicalservices for equipment and has been identied as a key environmental protection technology equipment support unitencouraged by the state. It is a provider of integrated solutions for equipment for waste-to-energy incineration, cateringand kitchen waste treatment, sewage and sludge treatment, magnesium smelting, and new energy materials, etc.In 2023, the company's equipment manufacturing and service business achieved revenue of RMB 2.917 billion, a year-on-year increase of 56.45%. During the year, the company made signicant progress in new equipment orders, with atotal contract order amount of approximately RMB 3.545 billion, including the successful bidding and signing of severalEPC contracts for equipment, such as the Chongyi project and the Fuyuan project; providing grate furnace incinerationequipment for the waste incineration treatment project of Tsingshan Holding Group in Indonesia, which opens up newopportunities for the company's environmental protection equipment to enter the overseas market. In expanding the newmaterial equipment business, the company has signed multiple new material-related equipment cooperation agreementswith leading industry enterprises such as GEM and Yongxu Mining. Additionally, the Equipment Group's DuanshanManufacturing Park, which underwent meticulous preparation and construction, was put into formal operation during thereporting period. Moreover, during the reporting period, the company also obtained the production license for pressurevessel special equipment, further enhancing its core competitiveness and production capabilities in equipment R&D andmanufacturing.
Completion of kitchenwaste treatment
Completion of municipal solidwaste transportation
Year-on-year growth
Year-on-year growth
Year-on-year growth
Year-on-year growth
Year-on-year growth
Completion of external steamsupply
Completion of byproduct fatsales
Completion of kitchen wastetransportation
Completion of sludge treatment
Completion of various types ofsewage treatment
427,700tons
1.29
million tons
26.87
%
10.03
%
39.67
%
16.41
%
53.83
%
54,800tons
14,400tons
282,300tons
134,800tons
16.42
million tons
During the reporting period, the Jiaman New Energy project in Indonesia funded by the company achievedkey progress. The main plant building successfully topped out, and on the same day, the rst steel columnfor the chemical water workshop and the dry ore blending workshop was successfully hoisted and erected.This achievement not only marks the smooth transition of the project from the civil construction stage to theinstallation and construction stage but also symbolizes the project's entry into a new stage of development.Jiaman New Energy project, as the company'sfirst overseas new energy materials project,has received strong support from the topmanagement. The project team has thoroughlyconsidered the local climate conditions,meticulously planned the construction scheme,and efficiently organized the constructionactivities. Facing the dual challenges of thepandemic and complex weather conditions, theentire project team demonstrated a united andcooperative spirit with clear division of labor,standing firmly on the front lines to ensure thesuccessful completion of various constructionnodes. The smooth progress of the JiamanNew Energy project not only lays a solidfoundation for Weiming Environment Protection'sinternationalization strategy but also opensup new avenues for the company's long-termdevelopment in the global new energy materialseld.
On April 5, 2023, PT.JiaMan NewEnergy Indonesia and Zhejiang Weiming Shengqing New Energy MaterialsCo., Ltd. signed a strategic cooperation agreement on the supply of high nickel matte for the lithium batterynew material project in the Weda Bay Industrial Park on the Island of Halmahera in Indonesia’s North MalukuProvince. Representatives from both companies attended the signing ceremony and signed the agreement,with many government and company executives in attendance to witness the event.According to the agreement, the Jiaman New Energy project will supply high nickel matte to WeimingShengqing for the production of positive electrode materials. The designed annual capacity of the JiamanNew Energy project is 40,000 tonnes of nickel-containing high nickel matte, while Weiming Shengqing'sannual demand for positive electrode materials is 200,000 tonnes, corresponding to a nickel metaldemand of 100,000 tonnes per year. The signing of this strategic cooperation agreement signies furthercollaborative development between the company's domestic and international projects and strengthens theclose connection between the upstream and downstream industrial chains.
Case
Case
The main plant building of the Jiaman New Energy project in Indonesia topped out
Jiaman New Energy Signs Strategic Cooperation Agreement for High Nickel Matte Supply withWeiming Shengqing
3536
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Supply Chain ManagementWeiming Environment Protection is committed to building harmonious and stable strategic cooperative relationships withits suppliers, leveraging its own advantages to continuously strengthen the supplier management system, optimize thesources of suppliers, and actively communicate and exchange with suppliers. It promotes various forms of cooperationto achieve a win-win situation across the industry.The company timely revises and improves a series of internal regulations, including the "Purchasing Manual", in strictaccordance with the "The Bidding Law of the People's Republic of China" and the "Regulations for the Implementationof the Bidding Law of the People's Republic of China" and other relevant laws and regulations applicable to the locationswhere the company operates.
Supplier screening
Production capacityassessment
The company examines the productioncapacity of the suppliers, such as productionline equipment, processes, technical levels,and raw material procurement, to ensurethey meet its needs.
Production capacityassessmentThe company examines the productioncapacity of the suppliers, such as productionline equipment, processes, technical levels,and raw material procurement, to ensurethey meet its needs.
Negotiation on price anddelivery termsThe company negotiates with suppliers onkey terms such as prices and delivery timesto reach mutually satisfactory cooperationagreements.
Negotiation on priceand delivery termsThe company negotiates withsuppliers on key terms such as pricesand delivery times to reach mutuallysatisfactory cooperation agreements.
The company’s supplier management system involves multiple aspects such as supplier classication, credential andcapability assessment and audits, supplier selection, supplier performance evaluation, and supplier integrity and honestymanagement, which ensures the quality, reliability, and compliance of the suppliers.
Supplier screening
Building a sustainable supply chain
Supplier integrity management
The company conducts regular assessments of its suppliers to monitor their performance and continuous improvement.The assessment criteria include, but are not limited to, product quality, delivery times, prices, and services. The resultsof the assessment are used as the basis for rewarding or punishing suppliers, as well as for deciding whether to renewcontracts, thereby encouraging suppliers to continuously enhance their capabilities. At the same time, the companyformulates supplier audit plans according to relevant regulations, clarifying audit objectives, scope, and timing. Throughon-site audits, the company gains insights into the actual operations of the suppliers, including their productionenvironment, quality control systems, and employee skills, and then prepares audit reports summarizing the issues foundand recommendations, providing a basis for subsequent improvements. Finally, the company tracks improvementsbased on issues identied in the audits to ensure that suppliers can rectify issues promptly and enhance performance.
The company attaches great importance to the stability and sustainable development of the supply chain and iscommitted to ensuring the robust and reliable supply of products through a sound supplier management system. Duringthe reporting period, in accordance with the "Purchasing Manual," the company conducted a strict ESG (environmental,social, and governance) entry assessment of suppliers, focusing on the assessment of the supplier's integrity inoperations, environmental compliance management performance, including emissions of waste gases, measures toaddress climate change, and the protection of labor rights and interests. This ensures that all collaborating suppliersmeet high standards of social responsibility and sustainable development.
The company has always adhered to the transparent procurement to empower the responsible development ofthe supply chain. It has established relevant regulations and measures, such as the "Supplier Integrity CooperationCommitment Letter," to prevent irregularities and disciplinary violations from the source, ensuring that the bidding andprocurement process is open, fair, and just, while reducing procurement costs and improving procurement efciency.During the reporting period, the company did not nd any major illegal and irregular situations with its suppliers.
3738
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Committed toProtecting theGreen Home
Weiming Environment Protection alwaysabides by the laws and regulations related toenvironmental protection and actively absorbsthe best practices in the industry to ensurethat all environmental facilities in all productionprocesses can "stably operate and meetthe emission standards." While dedicated tobusiness development, the company alsocontinuously optimizes its environmentalmanagement system, striving to reducethe negative impact of operational activitieson the environment and actively facing thechallenges brought by climate change. Thecompany views creating environmentalbenefits as a key part of fulfilling its socialresponsibilities.
2023 Environmental, Social and Governance (ESG) Report of Weiming Environment Protection
Improving EnvironmentalManagement39Tackling Climate Change40Resource Management43Treatment of“Three Wastes”
Green Operation47
3940
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Improving EnvironmentalManagementThe company has observed the provisions of“Environmental Protection Law of thePeople’s Republic of China”,“Law of the People’s Republic of China on the Preventionand Control of Environmental Pollution by Solid Waste”,“Law of the People’s Republicof China on Prevention and Control of Water Pollution”and other relevant laws andregulations. And the company has actively identied the environmental impacts relatedto its production and operation activities, and positively promoted the construction andimprovement of the environmental management system based on the ISO14001. As ofthe end of this reporting period, about 30 subsidiaries of the company completed theestablishment of environmental management systems and passed the ISO14001:2015environmental management system certication. During the reporting period, no majorenvironmental accidents occurred in the company. During the reporting period, thecompany invested approximately RMB 423 million of environmental protection funds.
EnvironmentalManagement SystemCerticateThe Safety and Environmental Health Working Group undertakes the main responsibilities of the company in safety,environmental protection, and occupational health management. At the project operation level, the company adopts theprinciple of the project company’s general manager taking in charge, following the principle of "the polluter is responsiblefor the treatment." The general manager of each project company is the first person responsible for environmentalprotection in the company, fully responsible for environmental affairs. Additionally, each project company has a full-timeenvironmental protection manager responsible for executing and supervising specialized environmental protection work.
Fully responsible for safety, environmental health, productionand operation management, organizing and implementingthe system development, execution feedback, safety,environmental protection, occupational health, economy,training, and personnel optimization and integration ofproduction cabinets.
Fully responsible for safety, environmental protection,and occupational health management, organizing theimplementation of safety, environmental protection, andoccupational health related regulations, and providingfeedback on their implementation.
Fully responsible for safety, environmental health, and equipmentmanagement, organizing the implementation and feedback of regulationsexecution, equipment maintenance, upkeep, supervision, planning, andbudgeting.
Responsibilities of the Safety And Environmental Health Group
Tackling Climate ChangeRecognizing the profound impact of climate change on society, the company fully understands the physical andtransition risks related to climate that it faces in its business operations. As a key participant in market economicactivities and the main provider of social production and services, the company also shoulders the responsibility to playan active role in climate change response. As a firm supporter of sustainable development, the company resolutelysupports the State Council's guiding principles to "actively promote work related to the carbon peak and carbonneutrality," advocates and practices green, low-carbon, circular, and sustainable production and office models, andintegrates climate change response strategies into its overall development strategic planning.
Emergency drills for environmental incidents
The company has formulated the "Production Safety Accident Management Measures" and multiple emergencyplans for safety accidents according to the "National Emergency Plan for Environmental Incidents" and other relevantregulations. These plans detail the emergency organizational structure and system, response procedures, follow-up actions, emergency support, supervision and management, and environmental risk assessment and emergencyresource investigation, which ensures that the impact is minimized in the event of an environmental incident.During the reporting period, the company organized a series of emergency drills and environmental protection trainingactivities, covering topics such as standardized management of hazardous waste, emergency response to excessive uegas emissions, handling of leachate pipeline leaks, response to hazardous waste leaks, and spillage from deslime tanks.These activities aimed to enhance employees' emergency handling capabilities and reduce potential environmentalhazards from sudden environmental events.
the company conducted
environmental emergency drills, covering
persons.Data Performance
During the reporting period,
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
During the reporting period, the company and all its subsidiaries continued to follow the suggestions of the Task Forceon Climate-Related Financial Disclosure (TCFD) and conducted in-depth assessments of the climate-related risks andopportunities they faced. Based on this assessment, the company developed and implemented a comprehensivestrategy aimed at addressing the challenges of climate change and reducing greenhouse gas emissions.
During the reporting period, the company formulated the“Climate Change Response Management Measures ofZhejiang Weiming Environment Protection Co., Ltd.”. The Corporate Strategy and ESG Committee is responsible forapproving the company’s goals and plans for addressing climate changes; The committee ofce is responsible for overallmanagement planning, guidance, and supervision of the company’s climate change responses, and is required to reportprogress to the committee on a regular basis. Each subsidiary group is responsible for implementing specic climatechange response measures and management tasks. In addition, the company’s management objectives for addressingclimate changes is to achieve preliminary decarbonization by 2030 and deep decarbonization by 2060.
The Company’s Climate ChangeManagement Objectives
Climate change management system and response objectives
Establish a greenhouse gasaccounting mechanism todetermine greenhouse gasemission baselines and setemission reduction goals.
Carry out greenhouse gasaccounting work, and regularlymonitor and report greenhousegas emissions.
Reduce greenhouse gas emissionsand improve resource utilizationefciency through technologicalinnovation and implementation ofscientic management measures.
Set the company’s carbonemission reduction goals andtake corresponding measures toachieve zero carbon emissions.
Explore and invest incarbon offsetting projectsto participate in carbonmarket trading and offsetsome of the carbonemissions.
Greenhouse GasEmission ReductionManagement Measures
Preliminary decarbonization
stage
Continuous decarbonization
period
Deep decarbonization periodNow - 20302031-20402041-2060Reduce greenhouse gas emissions,practice the concept of circulardevelopment, strengthen technologicalinnovation support, promote digitaltechnology empowerment and energystructure transformation, improveenergy utilization efciency, and build agreen and low-carbon supply chain.
Fully realize the empowerment ofdigital technology, signicantly improvethe use of clean energy, carry out near-zero carbon construction in factoryareas, enhance negative carbontechnology, and ensure the mainpurchased raw materials are in linewith the company’s carbon emissionreduction goals.
Fully apply clean energy and promotethe application of mature negativecarbon technologies, striving toachieve carbon neutrality.
Physical risks
Heat waveAcute operational risk
During the heat wave invasion,employees may be unable to workdue to extreme hot weather causingheat exhaustion, heatstroke,or other health diseases, andproduction machines may shutdown due to overheating, leadingto rising operating costs.
· Provide cooling measures, such asproviding employees with electricfans, rest areas, and sufcientwater to combat constantly risingtemperatures and reschedule workschedules.· Optimize the heat dissipationfunction of the machines, increasethe frequency of routine inspectionsand maintenance, and maintain theirservice life.FloodAcute operational risk
At the rainy season, increasingoods may lead to businessclosures due to property orequipment damage, and employeesmay be unable to work.
· Develop and implement emergencyplans for extreme weather events.· Increase the frequency of trainingand drills, and strengthen employeeawareness of prevention.
TyphoonAcute operational risk
Due to the fact that some of thecompany’s factories are located inthe southeast coastal area, with ahigh frequency of typhoons, it maylead to closure due to property orequipment damage, and employeesmay be unable to work, resulting indirect income loss.
· Develop and implement emergencyplans for extreme weather events.Increase the frequency of trainingand drills, and strengthen employeeawareness of prevention.· Add waterproof devices forproduction machines or typhoon-prevention equipment in the factoryarea
Transformation risk
New policiesfor low-carboneconomictransformation
Market and technical risks
Our country has promised thatthe carbon dioxide emissionsshould strive to peak before2030, and promised to achievecarbon neutrality before 2060. Thegovernment has introduced newpolicies to support low-carbontransformation. High-emissioneconomic activities will be underpressure, thereby increasing theR&D costs of green production.
· Set carbon emission reductiongoals, make low-carboncommitments, and establish relevantinternal policies.· Expand the use of low-carbonenergy to replace fossil fuels, suchas replacement of fuel vehicles withelectric vehicles.· Vigorously develop low-carbon andlow-emission processes based onthe main business.Regulatemandatoryinformationdisclosure
Operational andreputational risks
Regulate mandatory disclosure ofclimate-related nancial information,and lack historical data and preciseaccounting methods, which affectsthe quality of disclosure.
· Establish relevant teams or appointexternal experts to regularly reporton the latest standards disclosed byregulatory authorities to ensure thequality of information disclosure.
Raiseenvironmentalprotectionstandards
Market and technical risks
The government introduced morestringent environmental policies, sothe company needed to improveits production processes to complywith energy-saving and low-emission standards in accordancewith laws and regulations, whichmight increase R&D investment torenovate production equipmentor increase energy-saving andenvironmental protection measures.
· Establish relevant teams or appointexternal experts to regularly reporton the latest environmental policiesof the local government, in order toavoid increasing operating costs dueto violations of relevant environmentallaws and regulations.
Risk type
Climate risk
factor
Climate Risk Identication Table
Risk classicationRisk example description
Suggestions for mitigation
measures
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Stock name: Weiming Environment ProtectionStock code: 603568
Resource Management
Energy managementThe company has always been committed to continuously optimizing its energy structure and improving energyefciency. In daily operational activities of the company, the energy consumption mainly includes fuel oil and externally-purchased electricity. The energy required for daily operation of the company’s subordinate waste incineration powerplant is mainly self-sufcient through waste incineration power generation, with a self-sufciency rate of over 97%. Tofurther promote energy conservation measures and standardize energy usage processes, the company formulatedthe“Climate Change Response Management Measures of Zhejiang Weiming Environment Protection Co., Ltd.”, andproposed energy management objectives. At the same time, the company actively promoted the improvement of theenergy management system and increased the use of clean energy through management optimization and technologicalinnovation in order to comprehensively improve the efciency of energy and resource utilization.
Identication of opportunities related to climate change
Increased demand for clean energy
With the gradual reduction of fossil fuel reserves and the increasing awareness ofenvironmental protection, clean energy such as solar energy, geothermal energy and windenergy is rapidly developing and growing, and expected to become the dominant energysource in the future. In this transformation process, our company effectively replaced thetraditional power grid based on thermal power generation by utilizing the thermal energygenerated by waste incineration for power generation, thereby signicantly promoting thereduction of greenhouse gas emissions.
The booming development of the new energy
vehicle market
Under the active promotion of government policies in different countries, the new energyvehicle market is entering a stage of rapid development. Looking ahead to the future, we ndthat these factors will continue to promote the expansion of the new energy vehicle marketwith the further improvement of new energy vehicle performance, the further reduction ofproduction costs, and the enhancement of public environmental awareness. Our companyhas made a forward-looking strategic layout in the eld of new energy, fully utilized newmarket opportunities, and closely followed the development trends of the new energy vehicleindustry to meet the constantly growing market demand.Product and service opportunities
Under the background of low-carbon economic transformation, the demand for low-carbonproducts and services in society is expected to gradually increase. As an enterprise withprofessional technology and rich experience in the elds of waste incineration and solidwaste treatment, our company has a signicant rst-mover advantage.
Identied opportunitiesCompany coping strategy
Three-stage objectives for company energy management
Short-term objective (now-2030)Establish the company’s energy management system, promoteenergy structure transformation, and improve energy utilizationefciencyMid-term objective (2031-2040)Improve the company’s energy management system andsignificantly enhance the efficiency of clean energy use andutilizationLong-term objective (2041-2060)Fully implement and promote the application of clean energy
Usage of clean and renewable energy
During the reporting period, the company installeda solar photovoltaic power station on the roof of theEquipment Group factory building. This power stationadopted a concrete and color steel tile frame structureroof, on which about 13,860 square meters of solarphotovoltaic panels were installed. The installed capacityof the power station reached about 2.419 MW, and therst year’s utilization hours were about 1,200 hours. Thepower generation of the power station can meet thespontaneous and self-use needs of enterprises, and theexcess electricity can be connected to the grid.The construction of the photovoltaic power stationcan also save energy and reduce carbon emissionseffectively. It’s expected to reduce carbon dioxideemissions by nearly 50,000 tonnes in 2025. Therefore,this photovoltaic power station not only providesenterprises with a more comprehensive and high-quality one-stop power station solution, but also helpsthe company achieve green, efficient, and sustainabledevelopment.
Incineration ofwaste for powergeneration
Biogas powergeneration
Photovoltaicpower generation
Waste incineration power plants generate electricity by incinerating household waste and integrateit into the national power grid for sale. Meanwhile, the power plants also use some of their self-produced electricity for internal power supply within their factories. In 2023, the self-use electricityof waste incineration power plants (i.e. consumed self-generated electricity) reached approximately
368.454 million kW.h, the purchased electricity reached 10.65 million kW.h, and the self-use rate of
the plant area increased to 97.19%.Biogas power generation In 2023, the kitchen and dinning room waste management project underWeiming Environment Protection Group processed about 427,700 tonnes of kitchen and dinningroom waste. After anaerobic fermentation, it generated 9.61 million kW.h of electricity from biogasand 6.13 million kW.h of grid-connected electricity.Weiming Sewage Treatment Co., Ltd. and Electric Power Industry Co., Ltd., Yongjia County, underthe company worked together to promote rooftop photovoltaic power station project. In 2023, theproject achieved a total power generation of about 902,000 kW.h, of which the self-use photovoltaicpower generation of Weiming Sewage Treatment Co., Ltd. in Yongjia County reached about 882,400kW.h, and the remaining about 19,600 kW.h of electricity was successfully integrated into the grid.
Case
Installation of Solar Photovoltaic Panels on the Roof of the Dushan Manufacturing Park of theCompany’s Equipment Group
Data Performance2023Weiming Environment Protection generated approximately 3.853 billion kW.h electricity.The corresponding carbon emission reduction was estimated to reach approximately 3.8414million tonnes.
Dushan Manufacturing Park of the company’sequipment group is equipped with solar photovoltaicpanels on the roof
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Stock name: Weiming Environment ProtectionStock code: 603568
Treatment of“Three Wastes”
Wastewater management
The company strictly observes the“Law of the People’s Republic of China on Prevention and Control of Water Pollution”
and relevant regulations. In order to ensure that sewage discharge meets legal standards, the company herebydeveloped the“Three Wastes Management Measures of Zhejiang Weiming Environment Protection Co., Ltd.”to clarifythe management process and objectives of wastewater discharge. The environmental protection departments of eachsubsidiary of the group are responsible for regularly updating the wastewater discharge list to accurately identify thetypes of discharged wastewater and effectively control potential risks in the wastewater discharge process.
Several waste incineration power generation projects of the company, such as the Linjiang Project, Yongfeng Projectand Ningjin Project, successfully achieved zero discharge of wastewater through the recycling system. The domesticsewage, desalination workshop discharge water, main plant and elevated ground ushing water, leachate generated fromwaste storage pits, and initial rainwater in the above-mentioned projects all reached the concentration limits speciedin the “Standard for Pollution Control on the Landll Site of Municipal Solid Waste” (GB16889-2008) after treatment bythe leachate treatment station, and the inlet water quality requirements for open circulation cooling water systems inthe“Reuse of Urban Recycling Water - Water Quality Standard for Industrial Uses”(GB/T19923-2005), ensuring therecycling and reuse of water resources and avoiding the discharge of wastewater. The Yongjia Sewage Treatment Plantof the company conducted environmental protection treatment on urban sewage and ensured that the treated urbansewage could be discharged into the municipal pipeline network after meeting the discharge standards.
Wastewater management objectives and planningThe company strictly controls the amount of wastewater generated and discharged, establish a water-savingmanagement system, utilize limited water resources through various measures, and improve their utilization efciency.Wastewater that can be recycled after standardized treatment should be reused, and wastewater that can’t berecycled should be strictly discharged according to local discharge standards, ensuring that the company’s recyclingwater rate is maximized.
Water resources managementThe water resources consumed by the company in production and operation activities include municipal water supply,surface water, groundwater, as well as circulating water and recycled water. Adhering to the national policy of buildinga water-saving society, the company has developed and implemented a special plan for water resource recycling andreuse based on actual production and operation conditions to improve the efficiency of water resource utilization,promote water conservation, and protect water resources. The company not only recycles the cooling water, desalinatedwater, etc. used in the production process, but also maximizes the reuse of the treated leachate wastewater, signicantlyreducing water resource consumption.
Waste gas management
In compliance with the“Law of the People’s Republic of China on thePrevention and Control of Air Pollution”and other relevant laws andregulations, the company formulated the“Three Wastes ManagementMeasures of Zhejiang Weiming Environment Protection Co., Ltd.”as amanagement standard for preventing waste gas pollution. The companyregularly entrusts qualified units to monitor various indicators of wastegas emissions and strictly follows the requirements of regulatoryauthorities to conduct real-time online monitoring. If excessive emissionsoccur, the company will promptly activate emergency plans and conductquick rectication to ensure that emissions meet monitoring standards.To effectively treat the waste gas generated during the production process, the company adopts a comprehensiveexhaust gas purification process that combines selective non-catalytic reduction (SNCR) denitrification technology,semi-dry and dry acid removal treatment, activated carbon adsorption, bag dust removal, selective catalytic reduction(SCR) denitrication technology, and wet acid removal technology. The process can effectively remove pollutants suchas particulate matters, nitrogen oxides, and acidic gases from exhaust gas, and signicantly improve the efciency ofdenitrication.
Management objectives for wastegas emissionsOperation rate of waste gastreatment facilities
100%Intactness rate of exhaust gastreatment facilities
100%Collection rate of waste gas fromeach production unit
100%
Qualied rate of organized dischargeoutlet monitoring
100%
The Kunshan Phase II Waste Incineration Power Generation Project of the company successfully improved itsenvironmental emission standards through technological renovation. The designed daily processing capacityof the project is 1,050 tonnes of waste, using the“SNCR+semi-dry method+dry method+activated carbonadsorption+bag dust removal”process, and it already met the GB18485 Standard. In response to the ultra-lowemission requirements of Jiangsu Province, the project added an SCR denitrication system to reduce the NOxemission concentration to below 120mg/Nm3. During the reporting period, all incineration lines in the factory areawere renovated and all pollutant emission indicators exceeded the new standards. The upgrading and technicalrenovation signicantly improved the level of harmless, reduced, and resourceful waste treatment, and effectivelypromoted the improvement of local ecological environment quality.
Case
Kunshan Phase II Project’s Upgrading and Technical Renovation
Waste management
The company strictly observes the“Law of the People’s Republic of China on the Prevention and Control ofEnvironmental Pollution by Solid Waste”,“Standard for Pollution Control on the Non-hazardous Industrial Solid WasteStorage and Landll”, “Standard for Pollution Control on Hazardous Waste Storage” and other Chinese environmentalprotection regulations, as well as relevant environmental protection laws and regulations of the country where the projectis operated. The company has been committed to the reasonable storage, treatment, and recycling of waste to reduceits impact on the environment and potential risks.In order to improve the efficiency and environmental friendliness of packaging material management, the companyactively advocates the use of recyclable or reusable packaging materials, and is committed to increasing the applicationproportion of recycled materials, aiming to reduce the burden on the environment and effectively reduce raw materialcosts.Waste management and objective planning
The company has been committed to building a comprehensive urban environmental protection infrastructurecomplex, solving the problem of urban waste disposal, promoting sustainable development of urban ecologicalenvironment, and becoming an internationally advanced and domestically leading solid waste full industry chainenterprise. The company adheres to the concept of developing a circular economy, with solid waste treatmentbusiness and new energy materials business as the core, and carries out domestic waste treatment, kitchenwaste treatment, sludge treatment, agricultural and forestry waste treatment, hazardous waste treatment, andwaste battery recycling and reuse business through collaborative treatment.
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Stock name: Weiming Environment ProtectionStock code: 603568
Green OperationGreen ofceThe company deeply recognizes the potential impact of employee office activities on the environment and activelyimplements the national policy guidance on energy conservation and emission reduction. To this end, the companyadvocates and implements the concept of green ofce internally, and strives to cultivate a green ofce culture. In dailyoperations, our company encourages employees to take measures such as saving electricity, reducing paper usage,promoting green travel, and participating in voluntary tree planting, aiming to create a low-carbon and environmentally-friendly ofce environment.
Noise management
The company strictly observes the“Law of the People’s Republic of China on the Prevention and Control ofEnvironmental Noise Pollution”,“Emission Standard for Industrial Enterprises Noise at Boundary”and other relevantlaws and regulations of the operating location. The company invites professional environmental monitoring agenciesto conduct regular inspections of factory boundary noise every year. Once excessive noise emissions are detected,immediate measures will be taken to eliminate noise and isolate them until they meet legal standards. Meanwhile, thecompany focuses on the maintenance of noise source mechanical equipment and adopts sound insulation measuressuch as shock absorption, noise reduction, sound insulation, and greening.
Each subsidiary should establish a solidwaste classication system, classifywaste by nature, provide collectionfacilities and containers, and set uptemporary storage points.
Strengthen packaging materialmanagement, promote the use ofrecyclable or reusable packagingmaterials, and increase the useproportion of recyclable packagingmaterials in order to reduceenvironmental pollution and lowerraw material costs.
Hazardous solid waste shouldbe uniformly disposed of byqualied units commissioned byeach environmental protectiondepartment of the company.
Enhance the recycling and reuseefciency of recyclable solid waste,and cooperate with relevantenterprises or institutions to achieveresource recycling.
Non-recyclable solid waste is sentto the waste disposal site accordingto the unied arrangement of eachenvironmental protection departmentof the company.
Solid wastetreatmentmeasures
Statistical and monitoring management of the usage of ofce and daily necessities;Try to use electronic documents and information system ofce platforms as much as possible to reduce paperusage; Two-side duplication is adopted when using ofce paper.
Advocate green ofce
The power of waste power generation projects is all from their own power plants, and these plants are self-sufcient in power supply;At the offices, employees should turn off lights before leaving and set the air conditioners to a constanttemperature, reducing electricity consumption and coolant usage.
Advocate energy conservation
Develop the waste classication system, and advocate bringing cups during meetings to reduce the use of mineralwater;Establish a recycling mechanism for waste printer toner cartridges to prevent environmental hazards caused byimproper handling.
Domestic waste treatment
Advocate employees’ choice of public transportation or clean modes of transportation.Advocate green transportation
During the reporting period, the company’s Pingyang project team arranged for employees to whitewash theseedlings and trees in the entire factory area with lime water to prevent pest infestation. Guided by the slogan“Taking Green Protection as Our Duty and Green Cherishing as Our Noble Virtue”, participants carried buckets,lime, and brushes and actively participated in the maintenance of green belts. The lime marks on the employees’
clothes witnessed their dedication to the activity, and with smiles, they joined hands to care for the growth of trees.This activity not only helped to maintain the work and ecological environment, but also strengthened the unity andcooperation among team members.
CasePingyang project team carries out the tree pest control activity
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Environmental protection educationThe company deeply recognizes the importance of environmental science education and regards it as a key componentof fullling corporate social responsibility. At present, multiple projects under the company have been recognized asunits for environmental protection facilities to be open to the public, and regular environmental protection open days areheld to actively undertake the responsibility of popularizing environmental protection knowledge to local residents andstudents. The company is committed to creating an environmental education base with a unied concept and distinctivefeatures, in order to continuously promote environmental protection concepts.
In November 2023, at the“Environmental Protection Open Day”event jointly organized by the Ecological
Environment Bureau of Mengyin County and Mengyin Power Plant, 15 representatives from different elds visited
the company’s Mengyin Power Plant and expressed their afrmation of the plan’s environmental protection facilities
and emission standards. At the symposium, the power plant introduced the technology of waste incineration for
power generation, and representatives expressed surprise and appreciation for the process of converting waste
into electricity. Liu Jikui, Deputy Director of the Ecological Environment Bureau of Mengyin County, emphasized
the contribution of Weiming Environment Protection in the construction of ecological civilization and proposed
the direction of future waste disposal work. This event not only popularized environmental protection knowledge,
but also promoted public participation in environmental protection and enhanced the popularization of ecological
civilization and green lifestyle.
CaseGreen Vision: Mengyin Power Plant Open Environmental Protection Promotion and Exchange Symposium
With the arrival of spring, in order to create a beautiful
environment and further strengthen environmental
awareness, the company’s Kunshan Power Plant held
the“Arbor Day”activity on the afternoon of March 12.
Under the leadership of the management, employees
worked in groups and enthusiastically engaged in tree
planting work, such as digging pits, transplanting,
banking up with earth, and irrigation. Various tree
species such as osmanthus trees, camellia trees,
and cherry-apple trees were planted in the factory
area, bringing new vitality and beautiful scenery to
Kunshan Power Plant. This Arbor Day activity not
only beautified the surrounding environment, but
also significantly enhanced team collaboration and
collectivism, reflecting its profound educational and
practical signicance.
CaseKunshan Power Plant Takes Action on the Arbor DayCaseGreen Sail: Entering Wuyi Power Plant to Experience the Magic Waste-to-Energy Transformation
In August 2023, Grade 5 students from the Rainbow Squadron of Hushan Primary School visited the Wuyi PowerPlant under the company on site, aiming to deeply explore the technical process of waste incineration powergeneration and professional knowledge related to waste classication.Under the careful organization and arrangement of full-time personnel in the power plant, the commentator rstsystematically explained to the visiting teachers and students the basic principle and complete treatment processof converting waste into electricity. Subsequently, the visiting team was led to the central control room, where thereal-time monitoring images on the large screen visually displayed the entire process of harmless, reduced, andresourceful incineration of household waste. Then teachers and students moved to the crane operation room andobserved through the safety glass window how professionals accurately controlled the grab devices to dispose ofwaste into the incinerator. This activity not only enhanced the students’ understanding of waste classication andenvironmental protection technology, but also strengthened their determination to actively participate in ecologicaland environmental protection actions in the future.
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Stock name: Weiming Environment ProtectionStock code: 603568
RespectingEmployees to Builda People-OrientedEnterprise
Weiming Environment Protection has regardedemployees as its important assets and alwaystaken employee training and development asthe foundation of enterprise development. Thecompany adheres to the“people-oriented”
management philosophy, cares for the well-beingof employees, respects their legitimate rights andinterests, and strives to maintain and safeguard thelegitimate rights and interests of every employee inrecruitment, remuneration, benets, etc. Meanwhile,the company is committed to providing employeeswith comprehensive growth and developmentopportunities, building a diversified and flexibletraining system, improving health protectionmeasures, and creating a friendly and harmoniousworking atmosphere to ensure that all employeescan fully unleash their personal potential and realizetheir personal value in a positive and upwardenvironment.
Regulating Labor Relations53Protecting EmployeeRights and Interests54Employee Cultivation56Employee Welfare61Occupational Health andSafety64
2023 Environmental, Social and Governance (ESG) Report of Weiming Environment Protection
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Regulating Labor RelationsWeiming Environment Protection adheres to the“people-oriented”concept, strictly abides by relevant laws andregulations such as the“Labor Law of the People’s Republic of China”, the“Labor Contract Law of the People’sRepublic of China”, and the“Social Insurance Law of the People’s Republic of China”, and formulates a complete HRsystem, including the“Recruitment Management System”,“Resignation Management System”,“Job Change andTransfer Management System”,“Remuneration Management System”,“Performance Assessment Principles”,“Rewardand Punishment System”,“Training System”,“Communication and Complaint System”,“Attendance ManagementImplementation Rules”, etc. During the reporting period, the company updated the“HR Management System ofEnvironment Protection Group’s Subsidiaries”,“Employee Attendance and Leave Management Regulations”, etc., andfurther improved system management.The company treats every employee equally and explicitly prohibits any form of discrimination or unfair treatment,including gender discrimination, racial discrimination, age discrimination, religious and belief discrimination, disabilitydiscrimination, etc., in the“Employee Handbook”. If employees feel that they’re subjected to discriminatory treatment,they’re encouraged to make complaints actively. The company actively creates a culture of respect and diversity,enhances employees’ sense of identication, belonging, and loyalty to the company, and enables them to grow anddevelop together with the company.The company adheres to the recruitment principle of“selecting the best candidates and fewer but better”in employeerecruitment, achieving an open, fair, and just recruitment process. The company attaches great importance to theconstruction of a talent pool and is committed to building a talent team that supports continuous learning. The companycontinues to optimize its recruitment system, upgrade its recruitment experience and attract high-quality talents tobuild a diversied team. Adhere to the principles of fair competition and selective recruitment, and sign labor contractswith employees based on honesty, trustworthiness, equality, and voluntariness. Strictly abide by legal regulations andeliminate illegal activities such as child labor, forced labor, and infringement of employee rights. The labor contractsigning rate and social insurance payment rate of the company in 2023 both reached 100%. During the reporting period,there were no incidents of employee discrimination, child labor, forced labor, or violation of labor laws and regulations inthe company.
20212,22950320222,71060220232,823601
20213894128161,11520223475951,1571,21320233115991,1751,339
YearYearMale51 and aboveFemale41-5031-40Under 30
Employee genderAge distribution
2021587151,9592022698652,3782023649512,409
20212,32326314620222,73041017220232,799479146
YearYearMaster’s degreeor above
Grass-rootsemployeesBelowbachelor
SeniormanagementemployeesBachelor
Middlemanagementemployees
Educational background distributionEmployment distribution
Protecting Employee Rightsand Interests
The company attaches great importance to the physical and mental health of its employees, cares about and caresfor their daily lives, and actively helps them solve work and life problems. During the reporting period, the companyfurther opened up communication channels for employees and regularly organized diversied employee communicationactivities to ensure the protection of employee rights in all aspects.Employee communication
Dissemination and communication
Utilize various promotional media such as company newspapers, websites, and bulletin boards to disseminatecorporate culture, promote communication within and outside the company, enhance employee participation,ownership, and sense of belonging, and create a favorable public opinion and work environment for thecompany to become a rst-class company.Establish a communication group, and each department should have no less than one correspondent whois responsible for submitting articles to the “Weiming Daily” or publishing information through the OA ofcesystem for matters related to production, management, equipment, good people and deeds, and employeeleisure life that occur around them.Each department should regularly replace the promotional content in the bulletin board they are responsiblefor, mainly including important public information of the company and important documents that need to beunderstood by all staff.
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To listen to the voices ofemployees, the companytimely understands theirideological trends, andincreases their sense ofidentification and belongingto the company. To furthercreate a harmoniousatmosphere, the companyregularly holds employeesymposiums and listens tothe opinions and suggestionsof employee representativesface-to-face.
Employee complaint handling process
After receiving complaints, the HR Department will register andscreen the complaint information, and then designate personnel forthe investigation of specic complaints within 7 working days.After investigating thecomplaints, the HRDepartment will reportthe investigation result tothe corresponding leader-in-charge, give handlingsuggestions and thenfeed back the handlingresult to the complainingand complaineddepartments.
For real-name reports, the company will reply to the informants and verify theimplementation results; for anonymous reports, the company only needs to
verify the implementation results.
Bidirectional communicationThe company has set up a suggestion box for employees to give relevant opinions and suggestions on thecompany management, technological innovation, logistics, recreational activities, etc. The HR Departmentcollects and reads the letters in the suggestion box once a week, formulates a process for handling employeesuggestions, and responds to various opinions and suggestions in time. If employees need the companyto solve their problems, they may contact their department heads in time; their department heads shouldcommunicate with them, conduct investigations, and offer help and support in time; If department heads failto solve their problems, the problems should be reported in writing to the CEO’s Ofce after being approvedby their department heads. Any complaint about unfair treatment that fails to be solved by the HR Departmentcan be directly sent to the CEO’s letter box.The HR Department makes a regular“employee satisfaction survey”for all employees to collect their opinionsand suggestions on various aspects of the company. During the reporting period, the company’s employeesatisfaction reached 95.03%.During the reporting period, the company updated its appeal and complaint tools for employees, appealmechanism and process. The complainant has the right to request a labor dispute resolution from the HRDepartment via phone, letter, face-to-face interview, fax, email and so on for the labor rights and interests ofemployees, including but not limited to the right to equal employment and employment choice, the right to getpayment for labor, the right to take a rest and leave, the right to labor health and safety protection, the rightto receive vocational skill training, the right to enjoy social insurance and welfare, etc. The HR Department willhandle complaints according to the complaint handling process, strictly keep condential the complainant’spersonal information and all complaint materials provided by the complainant, and hold those violatingcondentiality provisions accountable.
Employee Cultivation
The company formulates clear and reasonable career promotion paths, creates a scientic employee incentive system,continuously optimizes talent training mechanisms, and creates a good environment for talent growth and development.
The company'semploymentphilosophy
Respecting talentsTalents are the primary resource of an enterprise.
Encouraging innovationAdhere to the independent personality and strengths of employees,encourage technological and managerial innovation.Growing together
Through standardized management, a sound remuneration system, anda professionalization process, every employee is encouraged to work,grow, and build a common career with the company.The company attaches great importance to employee development, continuously builds and improves talent promotionmechanisms, and sets up dual development channels for management and professionalism. The company reasonablyallocates size of personnel force and related positions, and has corresponding career development and promotion paths,which are divided into management positions, skill positions, and technical positions, corresponding to three differentpromotion paths. Among them, the company’s Equipment Group has set up four promotion paths, namely management,technology, profession, and skill.The company adheres to the principles of fairness, openness, objectivity, and impartiality in evaluation. The evaluationcommittee regularly scores the performance of employees to determine their job level. In performance evaluation, thecompany clearly stipulates that if the evaluation objects have any objections to the evaluation results, they can le writtenappeals to the HR Department within 5 working days after receiving the evaluation results.Case
The Company’s Equipment Group Established the“Professional Title (Level) Evaluation and AppointmentCommittee”
During the reporting period, the Equipment Group of the company established a professional title (level) evaluationcommittee to provide multi-channel growth channels for its employees and meet the continuous development needsof the company for various talents. The committee conducted internal evaluations of employee professional titles(levels), and employees were entitled to corresponding salaries and benets based on their professional titles (level)after evaluation. Employees are divided into four categories based on positions, namely management, technology,skill, and profession. The Equipment Group Evaluation and Appointment Committee is responsible for the evaluationand appointment of employee titles (levels). After the evaluation (appointment) results are publicly announced, theappointment letter will be issued. For professional and technical personnel who have obtained national evaluationof professional titles and qualications at all levels, the Equipment Group Evaluation and Appointment Committeeshould decide whether to hire them based on their actual work ability, professional and technical knowledgelevel, and job requirements. Meanwhile, for competent, well-trained and outstanding employees who meet theactual ability requirements of certain positions, the Evaluation and Appointment Committee may make specialappointments as needed.Talent cultivationThe company attaches great importance to cadre selection and talent cultivation, and strictly screens and focuses oncultivating potential employees. At the same time, the company focuses on polishing and cultivating the professionalabilities of employees, centers on the development needs of employees in different positions, improves the trainingsystem, and provides various training programs for employees, so as to build a learning organization.
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Stock name: Weiming Environment ProtectionStock code: 603568
Comprehensive training system
of the companyDuring the reporting period, aiming to build a“high-quality employee team, create a talent pool, meet the company’sdemand for human resources at different times and provide development assistance”, the company further optimized itstraining system, continued to improve its employee training mechanism, increased its investment in employee training,and provided diversified training methods to meet the demand for employees’ career planning and the company’sdevelopment.
Course types
New employeetraining
Training for middleand senior cadres
Daily trainingExternal training
Three-level safetyeducation training of newemployee on-boardingtraining, apprenticeshiptraining, and concentratedtraining for fresh graduateemployees
Rotation training formiddle and seniorcadres, centralizedtraining for middle andsenior managementcadres
Skill training, safetyregulation training,group training, etc.
Training forobtaining various
certicates andindustry training
In order to meet the employees’
demands for different growth stagessuch as on-boarding, on-the-job, promotion, and professionaladvancement, the company adoptsa training method that integratesmultiple resources such as internalgeneral skill training, hiring internaland external experts, and externalinstitution training.
Strengthen the cultivation of the company’sreserve management talents by invitinginternal leaders, hiring external experts,conducting eld learning and other means.
Conduct closer cooperation withexternal talent training institutionsand enterprises. The company willcultivate internal innovative talentsand improve the professional leveland competence of employees bycooperation with external industryexperts, universities and scienticresearch institutes in projects, andother means.
Comprehensive training systemFor senior, middle and grass-roots management, backbone employees, all employees, new employees and othergroups, the company determines a training orientation that caters to their current development stage and futuredevelopment goals and continuously optimizes its employee training system. The company provides employees withdifferentiated training to urge them to make progress via rich course systems and diverse training projects. In addition,the company also specially cultivates internal employee lecturers to boost the accumulation and inheritance of its internalsuperior working methods and experience.
The headquarters
Rotation training coursefor middle and seniormanagement cadres
Department supervisors or aboveOnce a year
Training course for new freshgraduate employees
New fresh graduate employeesOnce half a year3HR business trainingHR system employeesOnce half a year
Training for doctoral station
employees
Doctoral employeesOnce a year
Corporate culture on-boarding training for newemployees
New employeesOnce a monthEach group and its subsidiaries (partial)1Management cadre training
Assistants to the department generalmanagers or above, workshop group
leader
4-6 times per year2New employee trainingNew employeesAt least once a month
Business reception etiquette
training
Administrators and HR personnelOnce a year4Lean production training
Department managers and abovePersonnel of the group level and above
Once a year5Quality management training
Department managers and abovePersonnel of the group level and above
Once a year6Safety production trainingProduction personnelAt least once a year
Partial training courses
No.Training topicTraining targetFrequency
New employeetraining
The company organizes regular on-boarding training for new employees to help themmaster skills and knowledge, quickly understand and integrate into the company, andenhance their sense of belonging. And to expand the new energy material business,Weiming’s newly developed business, the company urgently requires a large numberof new energy management talents. The company conducts collaborative training withexternal cooperative companies, and sends new management trainees in batches tothe cooperative company for outsourcing learning.
Training for new management trainees
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Employees' daily training
For employees at different growth stages such as on-the-job, promotion, and professional advancement, the companyadopts a training method that integrates multiple resources such as internal general skills training, hiring internal andexternal experts, and external institution training.Technical experts from the company headquarters organized training for ne operation management of waste-to-energyplants on the site. The training centers on ve aspects: "ne system management", "ne operation management", "neequipment management", "ne eld management", and "ne safety and environment protection management". Throughguidance and teaching, experts provide support for leaders and employees of the Manager's Ofce in daily work of thewaste-to-energy plants.
The company’s Equipment Group invites external mentors to provide employees with lean production training on aregular basis. The mentors start from the introduction of the overall process of course teaching and expatiate on fouraspects, namely overview of lean production, introduction to lean production, preliminary work of lean production, andkey points of lean production implementation. In this training, the concept of lean production was introduced, and leanproduction tools improved work efciency.
Fine operation management training of the company’s waste-to-energy plants
Lean production management training of the Equipment Group
The company’s New Energy Group organizes special safety production training. Safety management is the core ofenterprise production. By the interpretation of the new safety production laws, the training requires all subsidiaries tomeet the requirements of“three must-dos”truthfully and put safety production into practice in daily work according tosafety production contents. Moreover, all subsidiaries should draw lessons from other similar companies and drop thenumb and uke mind, so as to avoid safety accidents.
Safety production training of the New Energy GroupLeadership training
With high attention to the cultivation of reserve management cadres, the company organizes regular managementtraining for its middle and senior cadres every year by inviting internal or external lecturers to give lectures, so as to caterto its fast development and reserve more management talents.
Regular training for middle and senior management
cadres of the company
Centralized rotation training for the company’smanagement cadres
Management training for Environment Protection Group’syoung cadres
Training for the Equipment Group’s management cadres
6162
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
20217,38020211,334202226,40020221,650202347,09120233,265
YearYearEmployee's training time
Number of employees receiving
training
Employee WelfareSalary andwelfare
The company persistently builds a salary system that is competitive outside and fair inside.In strict accordance with the laws, regulations and policies of the place where the companyis run, the company has established a salary management standard system that catersto the actual situation of Weiming Environment Protection, so that all employees can getcompetitive pay and also deserved returns for their achievements.
Employee's pay consists of post salary, bonuses, welfare, and other incentives. Post salary includes basic salary, postperformance, overtime pay, and duty allowance. Salary adjustment usually includes annual salary adjustment (basedon employee assessment), as well as salary adjustments for fresh graduate employees, educational and professionaltitle promotion, post rank and post change, etc. During the reporting period, the company implemented managementmodels such as equity incentive and partnership system, and encouraged employees to work hard by treating their jobsas their careers. During its development, the company also shared with employees the prots and market value returnsbrought by its benet improvement, realizing a win-win result between employees and the company.
Post salary (basic salary,post performance,overtime pay, and dutyallowance), bonusesWelfare and otherbenets
Collective activities,birthday partySeniority allowanceTravel allowance,overseas allowances
Pay ve social insurancesand housing fundImplement paid leaveEmployee medicalexaminationFestival welfareSupplementarycommercial insurance
Salary and Welfare
Employee pay
Allowances andsubsidies
Welfare and benets
Employee careThe company proactively builds a happy workplace and cares about employees in daily life in many ways, facilitatingemployees' sense of belonging and identity. The company organizes rich activities for employees, such as the LanternFestival and Mid-autumn Festival evening parties with its characteristics, and sets up many employee interest clubs suchas basketball, badminton and billiards clubs to enrich employees' spare time life.To fully respect and protect the legitimate rights and interests of Indonesian employees, the company has investedin dedicated prayer rooms and staff canteens catering to Indonesian dietary habits in accordance with local culturalcustoms and laws and regulations, and provides employees with benets or days off during important festivals accordingto local customs and the labor law. In the meantime, our company established an ESG compliance team in theIndonesian plant, and communicated with employees in an active and effective manner, so that a fair and democraticcommunication and appeal mechanism could be established, and all-round improvements could be made in the workingand living conditions of employees.
Lantern Festival Evening PartyMid-autumn Festival Evening Party
Women's Day ActivityChildren's Day Special Activity of the Headquarters
Adhering to the principle of "standardized assessment and precise incentive" for salary distribution, the companydivides the assessment into annual and daily assessments. The annual bonus is calculated and paid according to theannual benets and assessment results. Male and female employees get the same pay for the same job. The companyadvocates the assessment result that salary distribution is linked with post rank, and employees enjoy a standardizedand reasonable salary adjustment mechanism. Salary adjustment includes salary adjustment for post rank promotion,salary adjustment for educational advancement, and general salary adjustment.The company has established a reasonable salary and welfare system and improves employee welfare benets based onits development. The company pays ve social insurances and housing fund for its employees, and offers various welfarebenets such as paid leave, employee medical examination, festival welfare, and supplementary commercial insuranceaccording to the law. To make employees feel a sense of belonging, the company organizes collective activities, birthdayparties, etc. The company also offers a seniority subsidy, and provides business travelers and expatriates with travelallowance, overseas allowances and other subsidies.
6364
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Tourist Activity for Employees in the Headquarters
Badminton Match of Equipment Group
Birthday Party for the Employees of Anfu Waste-to-Energy Plant
Tourist Activity Organized for Employees Returning to
Indonesia by Equipment Group
Basketball Friendly Match between Cangnan Waste-to-Energy Plant and Rui'an Waste-to-Energy Plant
Volleyball Match of Linjiang Waste-to-Energy Plant
Outdoor Activity of Kunshan Waste-to-Energy Plant
Occupational Health and Safety
The company always puts the safety of employees in the rst place, and adheres to the safety-based and prevention-oriented management philosophy. It has established and improved internal occupational health and safety policies andsystems, set up a sound occupational hygiene and health management system, decided and implemented the relevantstandards for internal occupational health and safety management, providing all-round support for the health and safetyof employees.
Occupational Health and Safety Management
Safety Training and Drill
The company attaches great importance to the occupational health and safety of its employees, strictly obeys nationalregulations and standards such as the "Work Safety Law of the People's Republic of China" and "Law of the People'sRepublic of China on Prevention and Control of Occupational Diseases", and has formulated and implemented a seriesof internal management systems such as the "Occupational Health Management System", "Occupational HazardWarning and Notication System", and "Fire, Explosion, Dust and Poison Prevention Management System". Persistentlyfocusing on the enhancement of occupational safety management in EHS work, the company fully and effectivelycontrols occupational health and safety risks and continuously improves occupational health management via soft powerconstruction and on-site hardware equipment in an active manner. During the reporting period, all dominant companiesof Weiming Environment Protection passed the ISO45001 "Occupational Health and Safety Management Systems".With the company's safety and environment protection high on the agenda, the Board of Directors and the managementhave established a sound safety management organizational structure, and designated the Safety and EnvironmentProtection Department for the coordination and organization of the environment, health and safety (EHS) management,the leadership of safety production, as well as research and decision on major problems, key tasks and correspondingmeasures in the safety production, thus laying a solid foundation for safety management. The whole group designatesdedicated safety management personnel at all levels to beef up the professionalism and efciency of safety management.
The company aims to optimize the emergency plan management system to make its safety production impervious.The company holds regular meetings to promote the management of re ghting equipment and facilities, and plansand conducts strict functional tests and inspections every year to ensure that they are completed in full. All subsidiariesorganize various emergency plan drills as planned every year, covering such aspects as re ghting and productionsafety, so as to ensure that employees can continue to improve their ability to respond to various disasters oremergencies.
Number of employees of the company and itsrelated holding subsidiaries receiving safetytraining during the reporting period
Coverage rate of safetytraining10,439
attendeesOver
%
6566
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568CaseFire Fighting DrillTo heighten employees' awareness of fire safety, self-protection and self-rescue, and master skills inhandling sudden res, Dongyang Waste-to-Energy Plant organized a re drill on April 22. In the on-site drill,professionals demonstrated how to use re ghting equipment such as re extinguishers and hydrants toemployees, and detailed how to carry out self-rescue, ee from the re and put out the early re. Employeesactively participated in the on-site simulation drill and the re extinguishing according to the requirementsand standards. After this drill, employees further enhanced their awareness of re protection, mastered howto use common re ghting equipment, and improved their re safety capability, laying a solid foundation forresponding to and dealing with re safety accidents.
CaseActivities of the Safety Production Month
June 2023 marked the 22nd national safety production month. In order to improve the safety awarenessof all employees and strengthen the awareness of red lines, the Linjiang Power Plant carried out safetyproduction month activities around the theme of "everyone pays attention to safety and everyone knowsemergency response." In order to actively create a safe production atmosphere and make safety informationreach all employees, banners and posters were used for safety production promotion. Moreover, safetyeducational videos, safety training, and safety emergency drills were conducted to rmly establish safety skillsin everyone's hearts and minds, improve practical prociency, raise employees' vigilance, and form a strongculture where every detail in safety production is taken seriously and everyone is concerned about safety, andsafety affects everyone.
Case"Everyone Attaches Importance to Safety and Knows Emergency Response" Themed Training
In order to effectively enhance the employees’safety awareness and improve the company's safetymanagement, in accordance with the activity arrangements of the safety production month, TongchengPower Plant held the themed training of "Everyone Attaches Importance to Safety and Knows EmergencyResponse" for the 2023 safety production month in June. The training focused on safety production month,the major hazards in the waste-to-energy plants, conned space operations, re operations like electrogaswelding, recent nationwide accident cases, and provided detailed explanations in conjunction with someissues found in the daily work. It emphasized that with the arrival of the high temperatures of summer, thereare many hazards in the waste-to-energy plants and widespread conned space operation points, and it isnecessary to "test rst, ventilate, then operate" in conned spaces, and handle conned space operationdocument. Then the attendees watched a safety production education video on preventing safety hazards inproduction, and thoroughly studied the relevant knowledge. Safety comes rst and equals economic benet.The training further enhanced the safety responsibility awareness of all employees and established a solidlegal concept for safety production, which has laid a solid foundation for promoting the overall improvementof the company's safety production governance capabilities.
Occupational disease prevention
The company prevents occupational disease risks and ensures the occupational health of employees through institutionalnorms, scientic management, daily protection, training and education. The company has established systems suchas the "Company Occupational Disease Hazard Prevention and Control Propaganda Education and Training System","Workers Occupational Health Monitoring and File Management System", "Occupational Disease Hazard AccidentHandling and Reporting System", and operating procedures such as the "Dust Position Occupational Health OperatingProcedures" and "Toxic and Hazardous Gas Position Occupational Health Operating Procedures" to clarify the scopeand workow of hazard identication. Additionally, the company regularly conducts occupational health risk warningnotications and routine inspections, and equips employees with proper labor protection supplies to effectively controloccupational health and safety risks.
Case"Care for Vision, Focus on Health" activity
To care for employees’eye health, better popularizeeye health, and enrich employees’knowledge of eyecare, on March 3, 2023, Yongqiang Power Plant underthe company's Environment Protection Group speciallyinvited Great Dragon Optical Co., Ltd. to carry out the"Care for Vision, Focus on Health" themed activity inthe plant, providing free eye health examinations forall employees. While helping employees understandtheir own eye health, this activity also popularizedknowledge of eye care, allowing employees to have acomprehensive understanding of their eye conditionsand enhancing their awareness of eye care.
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Stock name: Weiming Environment ProtectionStock code: 603568
Harmonious Win-win, Building aBetter Future
Weiming Environment Protection has alwaysadhered to the core values of giving back tosociety and firmly fulfilling corporate socialresponsibility. Since its establishment, ithas systematically held a series of diversepublic welfare activities covering educationassistance and access, charitable assistanceto orphans, disaster relief donations, andvoluntary unpaid blood donation. In order tofurther deepen the long-term mechanism ofpublic welfare and charity, the company hasnot only established the Weiming Branchof the Ouhai Charity Federation, but alsocreated the Weiming Charity Fund withinthe framework of the Wenzhou CharityFederation, and formed a professionalWeiming charity volunteer team with theaim of institutionalizing and regularizing theoperation of public welfare activities andcharity.
Social WelfareRural Revitalization
2023 Environmental, Social and Governance (ESG) Report of Weiming Environment Protection
6970
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Case
Case
Pingyang Power Plant organized and participated in public blood donation activity
"Waste to Energy" Study Tour
In November 2023, Pingyang Power Plant under thecompany's Environment Protection Group organizedemployees to participate in a voluntary unpaid blooddonation activity hosted by Qiancang Community. Thesuccessful hosting of this activity not only effectively upheldand promoted the social virtue of seless dedication, but alsoinspired employees' inherent sense of value identication andenhanced team cohesion. Meanwhile, the activity resonatedwell with the public welfare concept advocated by WeimingEnvironment Protection, vividly demonstrating the company'sunswerving sense of social responsibility and its profoundcommitment to actively promoting the corporate citizen rolein practice.
In July 2023, students from Rui’an No. 10 Middle Schoolvisited Rui’an Power Plant for a study tour to learn aboutthe process of turning waste into energy at close range. Atthe site, staff from Rui’an Power Plant under the company’sEnvironment Protection Group first used a combinationof theory and practice to explain the basic principles andproduction process of waste-to-energy incineration indetail, and then guided the students on a site visit to learnabout the intelligent and environmentally friendly productionprocess of waste-to-energy incineration. The studentslistened attentively, observed carefully, and made notes ontheir study report sheets. Through explanations, visiting andlearning, the students gained a clear understanding of thewhole processes of turning waste into valuable resources.
Case"Hand in Hand, Protecting the Environment" activity
In June 2023, under the organization of the LonggangBureau of Natural Resources and Planning and Construction,more than 20 teachers and students from Longgang No. 8Primary School visited the Cangnan Power Plant under thecompany's Environment Protection Group. Led by the tourguides, the teachers and students visited the central controlroom, crane room and environmental protection exhibitionhall, and attentively watched promotional videos. Duringthe visit, the tour guides answered various questions fromthe students and used models to popularize knowledgeand technology about waste-to-energy incineration. Thestudents got close to how waste incineration generateselectricity and intuitively experienced the whole processof turning daily household waste into electricity. After theactivity, the students expressed their determination tobecome role models of environmental protection in theirfuture lives.
Social Welfare
Case
Yongqiang Power Plant participated in the "Welcoming the Asian Games and Celebrating June 5th"Daluo Mountain Hiking Environmental Protection ActivityOn June 5, 2023, in order to welcome the "WorldEnvironment Day", fully implement Xi Jinping's ecologicalconservation thought, and deeply promote the theme of"Welcoming the Asian Games, Enjoying Sports Events,and Touring Wenzhou", Yongqiang Power Plant underthe company's Environment Protection Group activelyparticipated in the "Welcoming the Asian Games andCelebrating June 5th" Daluo Mountain Hiking EnvironmentalProtection Activity and Ecological Environment PromotionTheme Day Event in Longwan Yaoxi Scenic Resort.Holding up the team flags, the participants embarkedon a 5-kilometer hike amidst laughter and joy along theYaoxi Scenic Resort. This activity not only exercised theemployees' physical tness, but also enhanced their senseof collective honor and cohesion.
CaseThe company donated RMB 200,000 to Yilong County, Sichuan Province
In August 2023, the company's management team, alongwith a Party and government delegation from Wenzhou BayNew Area and Longwan District, visited Yilong County forinspections and exchanges on East-West Collaboration.During the visit, Weiming Environment Protection donatedRMB 200,000 to Yilong County, Sichuan Province. During theirstay in Yilong County, the delegation conducted a thoroughinvestigation and gained an in-depth understanding of thecurrent social and economic development of Yilong Countyand the opportunities and challenges it faced. Both sidesengaged in fruitful discussions on enhancing cooperation inmultiple elds, such as industrial docking, technology transfer,and talent cultivation. It is hoped that through deepeningexchanges and cooperation, with the goal of jointly promotingeconomic and social prosperity and progress.
Data Performance
2023The company has continuously carried out donation activities in poverty alleviation, educationassistance, elderly care, assistance and support, and rural revitalization, with a total donation ofapproximately RMB 10.36 million.
Rural Revitalization
In 2023, Weiming Environment Protection carried out public welfare activities in Yilong County and Aba County inSichuan Province, Jiahe County in Hunan Province, Yongkang City and Wenzhou Cityin Zhejiang Province, and otherplaces in China. The company actively carried out various charity projects such as poverty alleviation, educationassistance, elderly care, assistance and support, and rural revitalization, winning high praise and wide recognitionfrom all sectors of society. The company continues to exert efforts in charitable donations, rural revitalization andenvironmental protection, concentrating on allocating human, material and financial resources. It is committed topromoting social progress, and contributing continuous warmth and motivation to promote social harmony andcoexistence via practical actions.
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
AppendixAbout This Report
Reporting time
This report is the second ESG report released by Weiming Environment Protection Security to its stakeholders. The textinformation and performance reported are mainly from January 1, 2023 to December 31, 2023. Some information mayinclude policies and practices of previous years.
Reporting formatPlease refer to the company's website (https://www.cnweiming.com/index.aspx) to view or download electronic versionof this report.For any questions or suggestions regarding this report, please contact the following department:
Ofce of the Strategy and ESG CommitteeTel: 0577-86056018E-mail: ir@cnweiming.comAddress: 16F, Tongren Hengjiu Building, No. 525 Shifu Road, Wenzhou
Reference standards
This report is prepared in accordance with international and domestic standards such as the core plans of“GlobalReporting Initiative (GRI) Standards (GRI Standards)”,“Guidelines No.14 of Shanghai Stock Exchange for Self-Regulationof Listed Companies - Sustainability Report (Trial)”,“Guidance on Social Responsibility Reporting (CASS 5.0)”, and theUN Sustainable and Development Goals.
Information sourcesThis report does not contain any false records, misleading statements, or signicant omissions, and the companyassumes individual and joint liability for the truthfulness, accuracy, and completeness of this report’s content.
Reporting scopeThe scope of information disclosed in this report covers Zhejiang Weiming Environment Protection Co., Ltd. and itssubsidiaries, which is consistent with the scope of the consolidated nancial statements of Weiming EnvironmentProtection (603568.SH). Some information may involve policies and practices of previous years.
Key Performance Table
Economic performanceUnit202120222023
Economic performance
Operating incomeRMB Million4,289.254,446.146,024.58Total assetsRMB Million14,720.8720,223.7824,100.58Net protRMB Million1,604.951,653.192,048.49R&D investmentRMB Million60.7184.5199.87R&D investment ratio%1.421.901.66Number of R&D techniciansPerson247 332 363Proportion of R&D
technicians
%9.04 10.02 10.6Total cash dividends
(tax included)
RMB Million169256424Cash dividends per 10
shares
RMB1.3 1.5 2.5Environmental
performance
Unit202120222023
Energy
Liqueed gasTonne31 35 35Raw coalTonne38,333 1,4962,601Diesel oilLitre1,799,799 3,596,133 3,502,360GasolineLitre241,209300,690326,815Fuel oil (for boilers)Tonne3,1552,5884,067Purchased electricitykWh6,730,39713,996,14024,379,300Greenhouse gasesScope 1 greenhouse gasemissions
“tCO2e”14,99815,79214,827Scope 2 greenhouse gasemissions
“tCO2e”3,910 8,17213,904Total greenhouse gasemissions (Scope 1 +
Scope 2)
“tCO2e”18,90823,96428,731
7374
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Economic performanceUnit202120222023
Waste gas
Total waste gas emissionsm
2.6
×
3.05
×
3.69
×
ParticulatesTonne151 166 214Nitrogen oxidesTonne3,612 4,576 5,643
Sulfur dioxideTonne485797 1,253
Waste water
Total amount of wastewater discharge
m
534,189 630,422 17,095,464Chemical oxygen demand
(COD)
Tonne27 29 322Five-day biochemicaloxygen demand (BOD5)
Tonne434Suspended solidsTonne3357Ammonia nitrogenTonne1 2 16Total phosphorusTonne004
Solid waste
Total amount of slaggenerated
Tonne1,525,212 2,010,357 2,606,630Total amount of sludgegenerated by the leachatetreatment stations
Tonne24,109 29,74743,432Total amount of general
solid waste recycled
Tonne42,54947,61051,122Total amount of general
solid waste recycled
Tonne1,563,017 1,873,5862,600,307Total amount of y ashblocks generated
Tonne241,416 279,045 334,577Total amount of y ash and
raw ash generated
Tonne164,577202,277264,125Total amount of hazardouswaste (waste oil) generated
Tonne325019Total amount of hazardous
waste (waste cloth bags)generated
Tonne14 6341Total amount of hazardous
waste (waste oil drums)
generated
Tonne6 8 9Total amount of hazardous
waste (waste resin)
generated
Tonne0 1 0
Note
: In 2023, due to the company's acquisition of equity in Yongjia County Weiming Sewage Treatment Co., Ltd., the company's wastewater-related indicator values increased signicantly compared to 2022.
Economic performanceUnit202120222023Water resources
Municipal water purchase
amount
m
3,946,328 4,397,966 5,944,737Surface water usagem
4,046,671 5,020,231 7,234,430Amount of rainwatercollected
m
1,1041,3412,048Groundwater usagem
739,421 694,267 938,282Total amount of circulatingwater/recycled water
m
643,360 685,215 1,205,756
Transportation
Total transportation mileagekm10,274,47813,795,84812,878,523Number of electric ofcialvehicle parc
Vehicle002Mileage of electric ofcial
vehicles
km0020,049Number of fuel ofcialvehicle parc
Vehicle218220233Mileage of fuel ofcialvehicles
km4,257,2434,722,8403,877,980Number of fuel truck parcVehicle76292297Mileage of fuel truckskm6,017,2358,263,0088,687,094Economic performanceUnit202120222023
Safety
Number of employees whodied due to work-related
reasons
Person0 0 0Number of work-related
accidents
Case18 17 32Number of work days lostdue to work-related injuries
Day7537981,462Number of work-related
injuries
Person18 17 33Coverage rate ofoccupational healthexaminations
%100 100 100Number of employees inoccupational disease risk
positions
Person1,1721,4201,511Number of occupationaldisease cases
0 0 0
7576
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Economic performanceUnit202120222023Supply chain
Number of suppliersSupplier4,697 6,602 5,246
Suppliers from the Chinese
Mainland
Supplier4,697 6,592 5,217Suppliers from Hong
Kong, Macao, Taiwan and
overseas
Supplier0 10 29Number of local suppliersfor procurement
Supplier4,697 6,592 5,217
Employees
Total number of employeesPerson2,732 3,312 3,424Male employeesPerson2,229 2,710 2,823Female employeesPerson503 602 60151 and abovePerson389 347 31140 to 50 years oldPerson412 595 59930 to 40 years oldPerson816 1,157 1,175Under 30Person1,115 1,213 1,339Masters and PhDsPerson58 69 64BachelorPerson715 865 951Below bachelorPerson1,959 2,378 2,409Total number of grass-roots management andemployees
Person2,323 2,730 2,799Total number of middlemanagement employees
Person263 410 479Number of femaleemployees in middlemanagement
Person25 42 55Total number of seniormanagement employees
Person146 172 146Number of femaleemployees in seniormanagement
Person15 14 10Number of employeesreceiving training
Person1,334 1,650 3,265Total duration of employee
training
Hour7,380 26,400 47,091Average duration of
employee training
Hour6 16 14Total training hours of male
employees
Hour6,052 21,648 40,998
Economic performanceUnit202120222023Total training hours of
female employees
Hour1,328 4,752 6,093Total training hours ofgrass-roots employees
Hour6,275 22,400 39,302Total training hours ofmiddle managementemployees
Hour710 3,392 6,592Total training hours of senior
management employees
Hour394 608 1,197Social insurance coverage%100 100 100
Public welfare
Charity donationsRMB Million1.791.8910.36
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WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
Index of IndicatorsGRI content index
GRI Standards
Disclosureitems
Corresponding
chapters
GRI 2: General Disclosures 2021
2-1Organizational detailsCorporate Prole2-3
Reporting period, frequency and contact
person
About This Report2-7Employees
Standardizedemployment2-9Governance structure and compositionCorporate Prole2-12
Supervisory role of the highest governancebody in terms of management of impact
Improving CorporateGovernance2-14
Role of the highest governance body insustainable development reporting
Feature: ESGManagement2-22
Statement on sustainable development
strategy
Feature: ESGManagement2-29Methods of stakeholder engagement
Feature: ESGManagementGRI 3: Material Topics 2021
3-1Process of determining material topics
Feature: ESGManagement3-2List of material topics
Feature: ESGManagement3-3Management of material topics
Feature: ESGManagementGRI 201: Economic Performance
2016
201-1
Directly generated and distributed
economic value
Key Performance TableGRI 205: Anti-corruption 2016205-2
Communication and training of anti-corruption policies and procedures
Compliance andBusiness EthicsGRI 302: Energy 2016302-1
Energy consumption within the
organization
Resource ManagementGRI 303: Water and Efuents
2018
303-1
Mutual impacts between organization andwater as a shared resource
Resource Management303-2
Management of water discharge-related
impacts
Resource Management303-3Water intakeResource ManagementGRI 306: Waste 2020306-1
Waste generation and signicant waste-
related impacts
Treatment of“ThreeWastes”
Instructions for useZhejiang Weiming Environment Protection Co., Ltd. reported the
information cited in this GRI content index with reference to the GRIstandards on January 1, 2023 and December 31, 2023.GRI 1 usedGRI 1: Foundation 2021
GRI Standards
Disclosureitems
Correspondingchapters306-2
Management of signicant waste-related
impacts
Treatment of“ThreeWastes”306-3Waste generated
Treatment of“ThreeWastes”GRI 308: Supplier Environmental
Assessment 2016
308-1
New suppliers screened usingenvironmental assessment dimensions
Supply chain management
Supply ChainManagementGRI 401: Employment 2016
401-1
Employment rate of new employees and
employee turnover rate
Standardizedemployment401-2
Benets provided to full-time employees(excluding temporary or part-time
employees)
Employee Welfare
GRI 403: Occupational Healthand Safety 2018
403-1
Occupational health and safetymanagement system
Occupational Healthand Safety403-3Occupational health services
Occupational Health
and Safety403-4
Occupational health and safety affairs:
worker participation, consultation, and
communication
Occupational Health
and Safety403-5
Occupational health and safety training
for workers
Occupational Health
and Safety403-6Promotion of worker health
Occupational Health
and Safety403-7
Prevention and mitigation of occupationalhealth and safety impacts directly related
to business relationships
Occupational Health
and Safety403-10Work-related health issues
Occupational Health
and SafetyGRI 404: Training and Education
2016
404-1
Average hours of training receiving per
employee per year
Employee Cultivation404-2
Employee skill enhancement programsand transition assistance programs
Employee CultivationGRI 405: Diversity and EqualOpportunity 2016
405-1
Diversity of governance bodies and
employees
StandardizedemploymentGRI 414: Supplier SocialAssessment 2016
414-1
New suppliers screened using socialevaluation dimensions
Supply ChainManagement
7980
WEIMINGENVIRONMENT
Stock name: Weiming Environment ProtectionStock code: 603568
FeedbackThis report is the second Environmental, Social and Governance (ESG) report released by Weiming EnvironmentProtection for public disclosure. In order to continuously improve the company's ESG management and continuouslyenhance our ability and level of fullling ESG responsibilities, we greatly appreciate your feedback and suggestions.Please kindly assist us by completing the relevant questions raised in the feedback form and provide your responsesusing the following methods.
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