This year marks a pivotal moment for us to seize the opportunity of global sustainable development and enhance the resilience of our business operations. This year, Tongwei Co., Ltd. (Tongewi) released its fifth Environmental, Social, and Corporate Governance (ESG) Report & Sustainability Report and conducted an assessment on sustainable issues for the first time in accordance with the "Double Materiality" principle. We actively addressed broader sustainability concerns by showcasing the significant progress and achievements made by Tongwei in 2024.

2024

Amid an uncertain external environment, we established nine sustainability management systems across three dimensions—"Strategy, Stewardship, Solution (3S)." These systems ensure Tongwei's resilience in sustainable development and provides a valuable "Tongwei Case" for global enterprises pursuing sustainability.

"3S"

sustainability management systems

1. Mission and Vision System

This year, we deepened our "Together to Win" sustainability strategy and further explored the essence of Tongwei's mission to "build together, govern together, share together" and the "world-wide, wisdom, well-being, win-win" vision. Governance, environment, customers, employees, supply chain partners, and society were identified as key pillars. We officially launched the "Together to Win—Global Sustainable Partnership Co-Building Program," embracing openness, inclusivity, collaboration and sharing to create a sustainable future for all parties.

Value Creation

Through innovative business models and products, we generate economic value for ourselves while sharing economic vitality with society

Beautiful Eco-environment

We are committed to green and low-carbon development, achieving harmonious coexistence between business growth and environmental protection, and continuously sharing a beautiful ecological environment.

Harmonious Partnership

Putting people first, we strive to establish long-term, trust-based collaborative relationships with upstream and downstream partners to co-build a green industrial ecosystem

Steady Development

We continuously improve our sustainability governance, participate in and integrate into global ESG governance, and strengthen operational resilience.

2. Commitment System

This year, to standardize our sustainability path and convey our determination, we publicly released a total of 13 commitments and policy documents across five key areas.

3. Goals and Indicator System

This year, the company set 20 short-, medium-, and long-term sustainability goals, along with over 300 detailed sustainability indicators, demonstrating our commitment and guiding our sustainability direction.

4. Governance System

Three Levels

Sustainability Governance Structure

Decision—Management—Execution

5. Standard System

Three Major Phases

Sustainability Standards

Disclosure—Evaluation—Action

6. Institutional System

Over 40 Items

Sustainability

Management System

7. Certification System

This year, we adopted over 10 internationally recognized standards to build a sustainability certification system and fully validate Tongwei's sustainability achievements.

8. Training System

Diversified Training Platform

Average training hours per employee in 2024

82.03 hours

9. Disclosure System

"1+1+N"

Disclosure Format:

One Sustainability Report +

One Dedicated Sustainability Section on the Official Website +

Multiple Specialized Sustainability Disclosures

"Comprehensive" Governance · Steady Operation

This year, we adhered to the business philosophy of "Concentrating Resources, Executing with Precision, and Operating Efficiently," continuously strengthened risk management, upheld business ethics, enhanced information security management, and actively built a robust and transparent governance system.

We've successfully passed ISO 37301 Compliance Management System Certification.

We've successfully passed ISO/IEC 27001 Information Security Management System Certification.

We've conducted 117 business ethics audits.

We've achieved a resolution rate of 100% for internal audit issues.

We've received an A-grade rating for information disclosure from the Shanghai Stock Exchange for four consecutive years.

"Comprehensive" Research · Advanced Technological Innovation

This year, we established and improved a full-chain innovation system covering basic research, application development, and commercialization and pursued excellence in product quality, safety, and reliability throughout their lifecycle to create sustainable value for customers and society.

The entry into full service by Tongwei Global Innovation R&D Center

RMB 2.673 billion invested in R&D

RMB 5.34 million invested in innovation incentives

A year-on-year increase of 26.94% in the number of R&D personnel

A year-on-year increase of 88.66% in the number of newly authorized patents for invention

"Comprehensive" Benefit · Responsible Procurement

This year, we committed to building a high-standard sustainable supply system, leveraged our integrated PV industry chain advantages to deliver a sustainable supply chain anchored in "Green, Low-Carbon, and Responsible" pillars, and partnered with stakeholders for environmentally friendly, socially inclusive, and well-governed transformation.

Four Environmental Product Declaration (EPD) Certifications obtained

22 Carbon Footprint Certifications obtained for all core PV products

The first company to pass TÜV Rheinland Traceability Audit in one attempt and achieved full A-grade or higher ratings across all PV supply chain segments

100% signing rate of social responsibility commitment letters with key raw material suppliers for PV manufacturing

100% signing rate of conflict mineral commitment letters with key material suppliers for PV manufacturing

The launch of a Green Supply Chain Partnership Co-Building Program

"Comprehensive" Safeguard· Green and Low-Carbon Development

This year, we actively responded to the national strategy of "carbon peaking and carbon neutrality," employed diversified low-carbon strategies to mitigate the negative impacts of climate change on production and operations. We ensured efficient resource utilization, reduced pollution and waste emissions, and collaborated with stakeholders to build a beautiful China and share the fruits of green development.

RMB 1.245 billion invested in environmental protection

8 national-level "Green Factory" certifications in total

Total registered amount of green medium-term notes of RMB 10 billion

A year-on-year reduction of 16% in total carbon emissions within Scopes 1, 2 & 3

A year-on-year increase of 28.00% in renewable energy power consumption

101 energy-saving and consumption-reduction projects implemented in total

Annual electricity savings of over 130.83 million kWh

A water recycling and reuse rate of over 98%

▶A year-on-year reduction of 27.97% in exhaust pollutant discharge

A year-on-year reduction of 33.96% in wastewater pollutant discharge

A year-on-year reduction of 19.98% in total solid waste discharge

Tongwei's Hefei Base was awarded the title of "Zero-Waste Factory"

"Comprehensive" Companionship · Diverse Progress

This year, we committed to creating a diverse, inclusive, healthy, and safe work environment and fostering mutual progress and win-win development between the company and employees. Through concrete actions, we demonstrated our corporate social responsibility and humanistic care.

203 grants of the Employee Care Fund, totaling over RMB 731,600

An employee satisfaction rate of over 95%

An occupational health examination coverage of 100% among our employees

13,106 sessions of occupational health and safety training completed

RMB 2.977 million invested in in public welfare and charity

“TOGETHER TO WIN”

Resonating and Coexisting with Social Value

This year, centering on "Together to Win," we actively initiated or participated in 10 international sustainability-related initiatives. Leveraging global platforms, we amplified our voice and aligned corporate development philosophies with societal expectations. Through Tongwei's influence, we expanded the discourse on sustainability and reinforced its core essence.

Tongwei Co., Ltd. co-initiated and signed the International Climate Action Initiative for Digital Ecological Civilization

Tongwei Co., Ltd. co-launched the "Capacity Building Project for Sino-Africa Collaboration on Renewable Energy Development."

Tongwei Co., Ltd. co-initiated and signed the "Synergistic Empowerment Plan for Pollution Reduction, Carbon Mitigation and Efficiency Improvement."

ESG Ratings and Honors

ESG Ratings

This year, we continued to enhance our corporate sustainability performance and earned widespread recognition from various sectors.

MSCI ESG Rating: BB

S&P Global Corporate Sustainability Assessment: 57

CDP Global Environmental Disclosure (Climate Change/Water Security): B/B

EcoVadis Corporate Social Responsibility Rating: 78 (Gold Medal)—TW Solar (Hefei) Co., Ltd.

Wind ESG Rating: AA

CSI ESG Rating: AA

ESG Honors

In 2024, we won 32 domestic and international honors, showcasing the company's strength and influence in sustainable development.

Tongwei was selected as one of the "20 Case Examples of Private Sector's Sustainable Development in China for 20 Years" by UN Global Compact.

Tongwei appeared on the Fortune China ESG Impact List for two consecutive years.

Tongwei won the 2024 Caijing Evergreen Award for Contribution to Sustainable Development.

Tongwei was listed on the New Energy ESG Ranking of SSM and Dun & Bradstreet.

It is noted in the United Nations' Sustainable Development Report 2024 that global progress remains slow in achieving the 17 Sustainable Development Goals (SDGs), only 16% of which are expected to be realized by 2030 on average. The 1.5°C temperature control goal set by the Paris Agreement is also super challenging, indicating a long road ahead for global sustainable development. As we bid farewell to a year of fluctuations, Tongwei Co., Ltd. will continue to uphold its commitment to sustainable development, deepen technological innovation, strengthen corporate governance, expand into international markets, and take on more social responsibilities as a reliable partner. Together with all stakeholders, we will create a brighter future!