Stock Abbreviation：Joulwatt Stock code：
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and Governance (ESG) Report
Joulwatt Technology Co., Ltd.
CONTENTS
About Governance Foundation Innovation Builds the Core
Digital Operations
Statement on Report Preparation 01 Company Profile 05 Governance Structure and Standardized Continuously Advancing R&D Innovation 31
Corporate Culture & Values 07 Operations 15 Ongoing Quality Management
Sustainable Development Governance 08 Information Disclosure and Investor Improvement 33
Communication 19 Technology Ethics and Responsible
Compliance Management 20 Innovation 35
Digital Operations, Information Security, Improving Technological Innovation
and Data Protection 25 Mechanisms 36
Party Building Leadership and Intellectual Property Management and
Organizational Development 27 Protection 39
Ecosystem Collaboration Talent Development Key Performance
Carbon Operations Organizational Growth
Building a Responsible Supply Chain 43 Employee Rights and Interests
Economic Performance 71
Responsible Procurement Management 46 Protection 61
Corporate Governance Performance 71
Compliance Marketing Management 49 Employee Growth 67
Social Responsibility Performance 72
Customer Service and Support 50 Employee Communication
ESG Report Indicator Index 73
Climate Action and Green Operations 52 and Feedback 70
Statement on Report Preparation
About This Report
Preparation Basis
This report is Joulwatt's Environmental, Social, and Governance (ESG) Report 2025, aimed at disclosing to
stakeholders the Company's management strategies, key practices, and related performance in sustainability areas This report was prepared in line with Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock
such as environment, social responsibility, and corporate governance during fiscal year 2025, so as to strengthen Exchange No. 1 - Standard Operation and Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock
communication and engagement with all stakeholders. Exchange No. 14 - Sustainability Reporting (Trial) . It also references the Environmental, Social and Governance
Reporting Guide (Appendix C2 to the Listing Rules of The Stock Exchange of Hong Kong Limited), the Global Reporting
The Board of Directors and all directors of the Company guarantee that there are no false records, misleading Initiative (GRI) Sustainability Reporting Standards, the United Nations' SDG Compass: The Guide for Business Action
statements, or major omissions in the contents of this report; they bear individual and joint liability for the on the SDGs , and the Guidance on social responsibility reporting (GB/T 36001-2015) , a standard issued by the
truthfulness, accuracy, and completeness of the contents. People's Republic of China.
Reporting Principles
Scope of the Reporting Entity In the preparation of this report, we have adhered to the "Comply or Explain" provisions and four core reporting
principles outlined in Appendix C2 Environmental, Social and Governance Reporting Guide under the Listing Rules
Unless otherwise specified, the scope of the reporting entity for this report is consistent with the consolidated
of The Stock Exchange of Hong Kong Limited. These principles include Materiality, Quantitative, Balance, and
financial reporting scope of the Company.
Consistency. The report identifies, evaluates, and discloses material issues that have substantial impacts on the
Company and its stakeholders. Where applicable, explanations are provided regarding changes in key environmental
Terminology and social performance indicators, statistical methodologies, and related reporting scopes:
·"Materiality": This report incorporates stakeholder engagement and materiality assessment processes during its
"Joulwatt Technology Co., Ltd." is referred to as "JOULWATT" or "the Company" in this report.
preparation, serving as the basis for identifying key ESG issues of significance;
·"Quantitative": This report presents key environmental and social performance indicators (KPIs) using quantifiable
Time Scope
data, supplemented with explanatory notes to clarify their purpose and impact;
The reporting period is from January 1, 2025, to December 31, 2025. To enhance integrity, continuity, and ·"Balance": This report adheres to the balanced principle. The Company is committed to ensuring the objectivity
comparability of the information, certain contents and data are appropriately traced back to previous years. of its information disclosure. All content is derived from internal management documents, statistics, and publicly
disclosed information, presenting JOULWATT's ESG performance in an open, fair, and impartial manner;
Reporting Cycle ·"Consistency": This is the company's third ESG report. In principle, the same statistical methods are used. If any
changes occur in relevant criteria, they will be explained in subsequent reports.
This report is published annually and represents the Company's 3rd ESG report.
Report Release Format
Data Disclosure
This report is available in both Chinese and English. In case of any discrepancy between the two versions, the
The data and information contained in this report primarily originate from the Company's internal statistical
Simplified Chinese version shall prevail. To support environmental sustainability, this report is published exclusively
records, official documents, administrative filings and reports, publicly available government data, and third-party
in electronic format. The electronic version can be accessed on the official website of JOULWATT (www.joulwatt.com)
evaluations/interviews. All relevant content has undergone internal review and verification procedures. Financial
and the Shanghai Stock Exchange website (www.sse.com.cn).
data presented in this report is denominated in Renminbi (RMB). In case of any discrepancy between the data in this
report and the Company's financial statements, the financial statements shall prevail.
Company Profile 05
Corporate Culture & Values 07
About Sustainable Development Governance 08
JOULWATT
Company Profile
Founded in March 2013, Joulwatt Technology Co., Ltd. is an analog integrated circuit design company primarily
operating under the virtual IDM business model. The company designs and manufactures chips using its own
internationally advanced process technologies and has been recognized by the Ministry of Industry and Information
Technology as a "Little Giant" enterprise characterized by "specialization, refinement, uniqueness, and innovation".
Since its establishment, JOULWATT has been committed to providing highly integrated, high-performance, and
highly reliable power management and other chip products, offering customers one-stop procurement services. The
company boasts a rich product portfolio, extensive market presence, and rigorous quality control. The company's
product lines include DC-DC, AC-DC, linear power supplies, battery management, and signal chains, serving diverse
sectors such as communications, consumer electronics, industrial, AI, computing & storage, automotive electronics,
and new energy. The Company was successfully listed on the Science and Technology Innovation Board (STAR
Market) of the Shanghai Stock Exchange on December 23, 2022 (Stock Abbreviation: JOULWATT, Stock Code: 688141).
Company Development Milestones
inauguration
of JOULWATT's
Founded as an analog IC protection IC for Property Administration ·Passed Automotive JOULWATT's 2023 new
headquarters
design company primarily Developed electricity meters (CNIPA); developed Functional Safety A-shares listed
adopting the virtual IDM 40V China's first FET driver IC, First inclusion in building
and achieved mass Certification ASIL D (ISO on the Shanghai
business model, focusing synchronous production of the achieving mass production 26262) Stock Exchange the SSE Science
on R&D and sales of analog DC-DC 14S BMS analog in communications and ·Launched China's first STAR Market and Technology
integrated circuits integrated front-end (AFE) chip server markets high-performance (Stock Code: Innovation 100
circuits automotive-grade DrMOS 688141) Index
chip
smallest-package 10A DC-DC IC
·Awarded "Manufacturing Single-
·Obtained AEC-Q100 automotive qualification Champion Enterprise" by China's
Entered the
Passed ISO9001 Quality ·Developed the industry's highest-efficiency GaN (gallium Ministry of Industry and Information
personal
Management System nitride) SR (synchronous rectifier) chip Technology (Core Products: Switching
computer (PC)
certification and ·Intel Asia-Pacific R&D Ltd. became a shareholder Power Conversion Chips)
market
independently developed ·Successfully developed China's first
proprietary BCD process 90A DrMOS chip
technology
Corporate Culture & Values Sustainable Development Governance
Vision
To be present in every electronic device and become a leading player in the analog integrated ESG Governance Structure
circuit industry
With the vision of "to be present in every electronic device and become a leading player in the analog integrated
To deliver innovative, efficient, and reliable analog semiconductor solutions, continuously circuit industry", JOULWATT regards the sustainable development strategy as an important pillar of enterprise
Mission creating maximum value for our customers management. The company has established and refined its ESG governance framework in alignment with operational
characteristics and management needs, clearly defining the division of responsibilities among the Board of
Directors, management, and functional departments in related tasks. Sustainability requirements are integrated into
Values
operational management and risk control processes.
·Customer First? ·People-Oriented?
Customers Talent Board Decision-Making & Oversight
·Innovation Leadership ·Team Collaboration
As the supreme decision-making and supervisory body for the company's ESG management, the Board of Directors
holds full responsibility for ESG strategy formulation and oversight, as well as ESG strategy and disclosure. The
·Hard Work & Dedication? ·Goal-Oriented? Board's core functions in ESG management include:
Work Style Goals
·Efficiency Excellence ·Pursuit of Excellence
Execution of Oversight Responsibilities: The Board consistently monitors the company's performance in
Interpretation of JOULWATT's Core Values (Concise Version) environmental, social, and governance (ESG) management, regularly reviews related work reports, deliberates
on key ESG matters, and ensures the effective integration of sustainability principles into the corporate
governance framework and operational decision-making processes.
Customer First: The success of our customers is the sole reason for our existence. We provide
safe, reliable products and services that exceed expectations to earn their trust Materiality Ranking & Risk Management: The Board identifies, evaluates, and prioritizes ESG-related issues based
Customers
Innovation Leadership: We adhere to innovation-driven development. With technologically on the company's business characteristics, industry trends, and stakeholder priorities. It focuses on material
advanced and expectation-exceeding products, we lead customer needs issues that significantly impact the company's operations, along with associated risks and opportunities, while
driving the integration of these matters into the company's risk management and internal control systems to
People-Oriented: We value those who strive hard. We ensure that contributors of value receive continuously enhance operational resilience and sustainable development capabilities.
reasonable rewards and continuously attract and inspire top-notch talents
Talent
Team Collaboration: We work efficiently in collaboration, trust each other, and fill in each other's Goal Review & Business Alignment Analysis: The Board regularly assesses the progress of ESG goals and key
gaps. We work with ecosystem partners to create win-win outcomes and refuse to pass on defects initiatives, evaluating their effectiveness in improving operational efficiency, fulfilling social responsibilities, and
supporting medium-to-long-term development, ensuring the ESG strategy remains aligned with the company's
overall direction.
Goal-Oriented: We are determined to achieve our missions. Guided by goals and evaluated by
results, we pursue zero-defect quality
Goals
Pursuit of Excellence: We dare to challenge extreme goals, surpass standards, and continuously
seek improvement and optimization Implementation by Functional Departments
The company has established an ESG management mechanism that "promotes from the top-down and provides
Hard Work & Dedication: We earn customers' respect through perseverance, uphold firm beliefs, feedback from the bottom-up". Each functional department and business department integrates ESG management
maintain a positive mindset, and proactively take on challenges requirements into all aspects of daily operations based on their division of responsibilities:
Work Style Efficiency Excellence: We uphold the bottom line of quality and safety, respond rapidly to the
market, strive to get things right the first time, and enhance organizational efficiency through
process discipline and rules
Goal Decomposition and Refinement: Based on the ESG management guidelines and work requirements Material Issue Identification and Assessment
determined by the Board of Directors and in combination with actual operational conditions, each department
JOULWATT identifies ESG material issues in line with the requirements of the Self-Regulatory Guidelines for Listed
of the company refines specific goals, management measures, and implementation paths to promote the
Companies on the Shanghai Stock Exchange No. 4 - Preparation of Sustainability Reports . By comprehensively
orderly implementation of relevant tasks.
considering annual hot topics, national policy orientations, industry development trends, and the company's
Risk Assessment & Implementation: Each department within the company regularly identifies and evaluates
operational realities, the company establishes an assessment framework based on strategic alignment, risk urgency,
ESG-related risks and opportunities within its business scope, covering critical areas such as environmental
and stakeholder attention. Through stakeholder surveys, management discussions, and business-level analysis,
compliance, climate change, supply chain management, data security, and business ethics. It drives the
JOULWATT applies the "impact-financial" dual materiality principle to identify, evaluate, and prioritize relevant ESG
implementation of corresponding management and improvement measures to mitigate potential impacts and
issues, forming a material issue analysis matrix. This matrix supports the company's ESG management and report
enhance management effectiveness.
preparation, with the specific process as follows:
Establishment of a Regular Reporting Mechanism: Heads of company departments, in line with internal
management mechanisms, regularly report on ESG work progress. This facilitates timely oversight by the Board
Step 1: Establishing the Material Issues List
of Directors and management, enabling continuous optimization of management arrangements. A closed-loop
management approach featuring vertical coordination and ongoing improvement is thereby formed, providing The company refers to the foundational issues listed in the Self-Regulatory Guidelines for Listed Companies on
institutional safeguards for implementation of the company's sustainable development strategy. the Shanghai Stock Exchange No. 14 - Sustainability Reporting (Trial) as a key reference framework. It further
integrates relevant standards from the Shanghai Stock Exchange, the Stock Exchange of Hong Kong Limited,
Organizational Structure the Sustainability Accounting Standards Board (SASB), and Morgan Stanley Capital International (MSCI), as well
as benchmarking practices from leading domestic and international industry participants. By systematically
Shareholders' analyzing the company's business model, industry characteristics, and key value chain segments, the company
Meeting Nomination Committee conducts a comprehensive review. Through the analysis of policy dynamics, industry development trends,
and ESG reporting priorities of peer companies, the company forms an initial pool of issues. Considering
Remuneration and stakeholder focus areas, the company further identifies, screens, and refines relevant issues to develop a
Evaluation Committee candidate issues list. This ensures that key issues comprehensively cover critical risks, opportunities, and ESG
Board of Directors
practice priorities encountered in the company's operational and management processes.
Strategy and ESG
Committee
Office of the Board Board Secretary
Audit Committee
Internal Audit Step 2: Material Issues Assessment
Department
General Manager
The assessment of issues follows the "impact-financial" dual materiality principle: In the impact dimension,
the company comprehensively evaluates the potential positive and negative impacts of each issue,
General
Strategic
Finance R&D
Technology Marketing
and Quality Engineering Operations Sales Business
Enterprise establishing a scoring system based on the severity of impact and the likelihood of occurrence. In the financial
Cooperation Development Development
Department Department Department Department Application Department Department Department Department Division Department
Department
Department dimension, the company assesses the long-term effects of issues on revenue and costs, considering both risks
and opportunities. Ultimately, through stakeholder surveys and expert evaluations, the company determines
the priority level of each issue and constructs a weighted ranking matrix to ensure the scientific rigor and
Stakeholder Communication and Response rationality of issue screening.
JOULWATT places high importance on communication and collaboration with all stakeholders, continuously
Step 3: Validation of Assessment Results
promoting the establishment of regularized and institutionalized communication mechanisms to timely understand
and address stakeholders' expectations and needs. As the company's third publicly disclosed Environmental, Social,
The company's management has reviewed and confirmed the assessment results. Based on the assessment
and Governance (ESG) report, JOULWATT has established both internal and external communication mechanisms
results, JOULWATT has identified 6 issues critically important to the company: Customer Service and Quality
during the report preparation. The Company has consistently conducted identification of material ESG issues and
Management; Innovation Mechanisms and Intellectual Property Protection; Sustainable Supply Chain
strengthened interactive engagement with stakeholders through diverse channels, including ESG report disclosures,
Management; Information Security and Data Protection; Talent Cultivation and Development; and Climate
internal discussions, official website and press publications, shareholders' meetings, and participation in industry
Change. The company will provide detailed responses to these key issues in relevant sections of the report
association activities. These efforts aim to continuously enhance the transparency of information disclosure and the
to effectively address the concerns and expectations of all stakeholders, ensuring transparency in ESG
level of responsible practices. The company reviews key focus areas based on stakeholder communication outcomes
management strategy disclosure and execution effectiveness.
and incorporates them into subsequent ESG management and information disclosure arrangements.
JOULWATT ESG Materiality Analysis Matrix
Medium-Term Sustainable Development Goals
JOULWATT has gradually established a medium-term sustainable development goals system based on its business
development stage, ESG governance foundation, and material issue identification results. These goals primarily
sustainable development management. Moving forward, JOULWATT will dynamically refine the goal metrics,
implementation pathways, and tracking mechanisms in alignment with operational realities, policy environments,
Material Issues Metrics 2025 Performance Units 2028 Objectives
Innovation
Financial Materiality
Mechanisms and Number of New Patent Increase by 5%
Customer Service and
Quality Monitoring
Number of Major
Talent Development Total Employee
and Training Training Hours
per year
Employee-based
Tons of Carbon Dioxide Reduce by
Climate Change Carbon Emission
Mitigation Strategies Intensity (Operational
Employees the end of 2028
Boundary)
At present, the company is committed to continuously improving its ESG governance structure and operational
Impact Materiality
mechanisms. As business scale and activities expand, the company will enhance relevant management measures by
integrating resource utilization, environmental management, social responsibility, and governance requirements.
This will also strengthen its capacity to identify, assess, and respond to ESG risks.
Quality Privacy Protection 14 Pollutant Emissions
Anti-Corruption 12 Stakeholder Communication
Governance Structure and Standardized Operations 15
Information Disclosure and Investor Communication 19
Governance Foundation Compliance Management 20
Digital Operations, Information Security, and Data Protection 25
Party Building Leadership and Organizational Development 27
Compliance, Risk Control & Digital Operations
JOULWATT places high importance on establishing standardized, transparent, and effective corporate governance, The company maintains an independent and complete business system with autonomous operational capabilities,
and continuously improves its governance system, internal controls, and risk management mechanisms. The operating independently from its controlling shareholders in aspects such as assets, talent, finance, organizational
company stringently complies with the laws, regulations, and normative requirements of regulatory authorities structure, and business operations. This ensures the independent operation of the Board of Directors and internal
such as the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange (SSE). It continuously institutions in compliance with laws. The controlling shareholders exercise their shareholder rights in accordance
refines its governance structure and internal management systems, strengthens internal controls, risk management, with laws and regulations. There are no instances of circumventing the Shareholders' Meeting to directly or indirectly
and oversight mechanisms to ensure compliant and orderly business operations. In terms of information disclosure interfere with the company's decision-making and operational management, nor any actions that harm the interests
and external communication, JOULWATT emphasizes positive engagement with investors and other stakeholders, of the company or other shareholders. JOULWATT continuously reviewed, revised, and improved its governance
consistently enhancing the authenticity, accuracy, completeness, fairness, and timeliness of disclosures, and fully systems and internal control frameworks in line with the company's standardized operations and capital market
fulfilling its responsibilities as a publicly listed company. compliance requirements during the reporting period. The company further strengthened institutional development
in key areas such as shareholder governance, related-party transaction management, prevention of fund occupation,
and compliant operations. It also revised key governance documents—including the Rules of Procedure for the
overnance Structure and Standardized
G
Shareholders' Meeting, the Draft System for Preventing Major Shareholders and Their Related Parties from Occupying
Company Funds , and the Draft Implementation Rules for the Cumulative Voting System —to continuously enhance
Operations governance standards and risk prevention capabilities.
Key Performance Indicators
JOULWATT is committed to creating long-term value for shareholders, customers, employees, and society, and
continuously optimizes its corporate governance and operational management mechanisms in alignment with this
goal. The company stringently adheres to laws, regulations, and normative documents—including the Company Law In 2025, the company held a total of 6 Shareholders' Meetings, at which 32 proposals were reviewed and approved.
of the People's Republic of China , the Securities Law of the People's Republic of China, the Corporate Governance
Guidelines for Listed Companies , the Sci-Tech Innovation Board (STAR Market) Listing Rules of the Shanghai Stock
Exchange , and the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange —to continuously
refine its governance structure, institutional systems, internal controls, and risk management mechanisms.
The company upholds business ethics and maintains standardized operations. The company operates under a
governance structure comprising the Shareholders' Meeting, Board of Directors, and Management. Each governance Directors and the Board of Directors
entity fulfills its respective duties in line with the Articles of Association, exercising decision-making, execution, and
supervision respectively. By continuously revising and refining relevant systems, the company enhances the synergy, As of December 31, 2025, the JOULWATT Board of Directors consists of 9 directors, including 4 independent
scientific nature, and standardization of governance operations. directors and 1 employee director. The number of board members and their composition comply with relevant
laws, regulations, and the Articles of Association . The Board, as a key body for the company's operational decision-
making, is accountable to the Shareholders' Meeting and convenes and holds meetings in accordance with laws
Shareholders and the Shareholders' Meeting and regulations. During the reporting period, the company continued to improve the institutional framework of the
Board of Directors, with a focus on enhancing the standardization of its operations and the quality and efficiency
of its decision-making. The Rules of Procedure for the Board of Directors and the Working System for Independent
As the company's highest authority, the Shareholders' Meeting exercises decision-making powers over major issues
Directors were revised, and new systems were introduced, including the Resignation Management System for
in accordance with laws. It reviews matters such as business strategies and investment plans, profit distribution
Directors , the Compensation Management System for Directors and Senior Management, and the Equity Holdings
proposals, amendments to the Articles of Association, and related procedural rules. The company stringently adheres
and Changes Management System for Directors and Senior Management . These measures further strengthened the
to relevant laws, regulations, and the Articles of Association when convening and conducting Shareholders' Meetings,
institutional support and guarantee for the performance of the Board's duties.
as well as executing voting procedures. This ensures legally compliant, fair, and transparent decision-making
processes. For significant matters that, in accordance with the Company Law and the Articles of Association, shall be
During the same period, all directors performed their responsibilities in line with the Rules of Procedure for the
submitted to the Shareholders' Meeting for deliberation, the company has stringently followed the required review
Board of Directors , the Working System for Independent Directors , and other relevant regulations. They actively
procedures. There have been no cases of bypassing the Shareholders' Meeting to implement major matters, or of
attended meetings of the Board of Directors and its specialized committees, and participated in Shareholders'
taking action without post-facto approval.
Meetings, diligently fulfilling their duties and obligations. The company also continued to promote the development
of directors' professional competence by organizing training programs for them. During the reporting period, the
Directors cumulatively participated in various specialized training sessions, with a total of over 50 person-times
of attendance. The training content included Case Studies of Typical Violations and Illegal Activities by Listed
Companies , Company Integrity and Compliance Training, and Hong Kong Stock Exchange ESG New Rules 2025 and
Corporate Responses , among others. These training programs helped directors stay abreast of securities market laws,
regulations, and compliance requirements, enhanced their awareness of performing duties in a standardized manner, 3
Male 3 2 41-50 years old
as well as of risk management and compliance self-discipline, thus providing long-term support for the company's
Female 51-60 years old
sound development.
Over 61 years old
Key Performance Indicators
In 2025, the company held a total of 15 Board of Directors meetings, at which 79 proposals were reviewed and approved.
Composition of JOULWATT's Board Specialized Committees as of the Reporting Date
Specialized
Members
Committees
Audit Committee Shen Shuhao (Chair), Xia Li'an, Zou Xiaopeng
JOULWATT Board Structure Nomination
Committee
Xia Li'an (Chair), Zou Xiaopeng, Zhu Xiaoyun
Remuneration and
Zou Xiaopeng (Chair), Huang Bilang, Shen Shuhao
JOULWATT continues to optimize the structure of the Board of Directors, emphasizing the organic integration of Evaluation Committee
professional expertise and diverse backgrounds. Board members possess the specialized knowledge, industry Strategy and ESG
ZHOU XUN WEI (Chair), Huang Bilang, Fang Wei
experience, and comprehensive judgment required for their roles. Drawing on practical insights from different fields, Committee
they provide support in strategic planning, operational decision-making, and risk management, further enhancing
the scientific rigor, foresight, and robustness of Board decisions. This strengthens the company's ability to navigate
complex market environments.
Key Performance Indicators
The Board runs four specialized committees: the Strategy and ESG Committee, the Nomination Committee, the
Remuneration and Evaluation Committee, and the Audit Committee. During the reporting period, the company In 2025, the Board specialized committees held 5 meetings for the Strategy and ESG Committee, 2 for the Nomination
revised the implementation rules for each specialized committee, continuously improving the Board's decision-
making mechanisms and promoting more standardized and efficient operations of the committees. Committee, 5 for the Remuneration and Evaluation Committee, and 12 for the Audit Committee.
Each specialized committee performs its duties in strict accordance with laws, regulations, the Articles of Association,
and the relevant implementation rules, carrying out its tasks in an orderly manner within the scope of authority
granted by the Board. This has established a working mechanism characterized by clear division of labor, well-defined
responsibilities, and effective operation, providing professional support for the company's daily management and Company Management
major decision-making.
The management team of JOULWATT possesses cross-disciplinary professional expertise, with members having
substantial practical experience and industry accumulation in technology R&D, capital operations, financial
management is able to coordinate the advancement of strategic planning and operational management in
Bachelor's Degree 3 Executive Director response to market changes, policy directions, and industry trends, thereby continuously improving the company's
Non-Executive Director energy and digital transformation, thus providing support for long-term, stable growth.
I nformation Disclosure and Investor Smooth Investor Communication Channels
Communication Basic Principles of JOULWATT for Investor Relations Management
During the reporting period, JOULWATT continued to advance the "improve quality, increase efficiency, and
emphasize returns" initiative, driving operational optimization, standardized governance, and investor returns. The
company focused on enhancing operational efficiency, market competitiveness, and its image in the capital market. Compliance Equality
Adhering to a shareholder-centric approach, JOULWATT continuously strengthened its management of information
disclosure, investor communication, and the transparency of sustainability-related information, further solidifying
the foundation of mutual trust with the capital market.
Standardized Information Disclosure
Honesty and
Proactivity
Integrity
In terms of information disclosure, the company stringently complies with laws and regulations such as the Securities
Law and the Administrative Measures for Information Disclosure by Listed Companies . The company continuously
improves its information disclosure management system to ensure that disclosed content is truthful, accurate,
complete, timely, and fair, thereby safeguarding investors' right to know. In line with the company's standardized
In investor relations management, the company adheres to the principles of openness, transparency, and timeliness,
operations and capital market compliance requirements, JOULWATT has made continuous progress in developing
continuously improving its regular communication mechanisms. Through diverse channels such as earnings briefing
related governance systems and confidentiality management mechanisms. Based on the Insider Information
sessions, investor research visits, the Shanghai Stock Exchange e-Interaction platform, and the investor hotline, the
Acquirers Registration System and other provisions, the company has strengthened the management of insider
company promptly responds to market concerns and communicates operational developments.
information confidentiality and the registration of insider information acquirers. During the reporting period, there
were no incidents of information leakage. The company released the Environmental, Social, and Governance Report
During the reporting period, the company responded to investor inquiries 12 times via the Shanghai Stock Exchange
e-Interaction platform. It also organized various forms of investor communication activities, including earnings
briefing sessions, company research visits, and brokerage strategy meetings. Cumulatively, the company received
Key Performance Indicators visits from institutional investors on more than 180 occasions, and proactively released 7 investor relations activity
record forms. These efforts further enhanced investors' understanding of the company's operating performance,
In 2025, the company issued 4 periodic reports, 182 interim announcements and filings, and held 3 earnings business development, strategic planning, and investment value.
briefing sessions
Compliance Management
JOULWATT is committed to embedding compliance operations and risk prevention throughout the entire process of
corporate governance and daily operations. The company continuously refines its compliance management system
by focusing on institution building, internal control optimization, and risk management enhancement, thereby
laying a solid foundation for the company's stable operations and long-term development. The company stringently
adheres to relevant laws, regulations, and supervisory requirements, and, in line with its own standardized operations
and capital market compliance obligations, continuously reviews and improves its governance systems, business
processes, and management mechanisms. This ensures that all business activities are conducted in a lawful and
compliant manner within a well-defined framework. Furthermore, the company places great emphasis on fostering
a compliance culture, continuously enhancing its ability to adapt to changes in the business environment and
challenges arising from business growth. This is achieved by improving the implementation of systems, strengthening
management constraints, and raising employees' internal control awareness.
Internal Control and Risk Management During the reporting period, the company continued to advance institutional development and internal control
enhancements. In line with the Shanghai Stock Exchange STAR Market's requirements for standardized operations,
the company systematically reviewed and revised its governance systems, making adaptive adjustments to key
In terms of internal control, the company stringently complies with the Self-Regulatory Guidelines for Listed documents such as the Articles of Association, the Rules of Procedure for Shareholders' Meetings, and the Related-
Companies on the Shanghai Stock Exchange No. 1 - Standard Operation (Revised in December 2024) , the Basic Party Transaction Management System . In addition, the company formulated the Internal Control Management Rules
Standard for Internal Control of Enterprises, and other relevant laws and regulations. The company continuously for Related-Party Transactions , the Securities Investment and Financial Derivatives Trading Management System , and
refines its internal control systems and management processes, establishing a control and supervision framework the External Financial Assistance Management System . The company also revised the Monetary Funds Management
that covers all key business areas. The company's Board of Directors and management attach great importance System and the Post-Investment Management Rules for Equity Investees, among other systems. These measures
to risk management and internal control development. They conduct risk assessments in key areas such as fund further improved the company's governance structure and internal management mechanisms, continuously
management, procurement and sales, and financial accounting, clearly define the boundaries of job responsibilities enhancing the level of standardized operations and risk control capabilities.
and approval authority, and formulate targeted prevention and control measures. By optimizing internal control
management tools, carrying out internal control audits, and implementing special inspections, the company
promptly identifies and rectifies potential risk points. This continuously enhances the effectiveness and enforceability Integrity, Compliance, and Business Ethics
of the internal control system, building a solid risk defense line for the company's stable operations.
JOULWATT upholds integrity, honesty, and compliance as the fundamental bottom line of its operations, continuously
JOULWATT's Three Lines of Defense for Enterprise Risk Management improving its anti-corruption and business ethics management mechanisms to maintain the highest standards
of integrity and compliance in all business activities. The company is committed to building a comprehensive
anti-corruption management system and has formulated policy documents such as the Employee Integrity and
Cleanliness System. It requires all newly recruited employees to sign the Commitment Letter on Employee Integrity
As the first line of defense, each of JOULWATT's business units is the primary
and Cleanliness. Through a risk assessment mechanism, the company systematically identifies and manages
First Line of
responsible party for risk management. They are tasked with identifying,
Autonomous Risk
Defense
integrity-related risks, ensuring that ethical conduct is effectively monitored and controlled. Furthermore, the
Management for assessing, and managing risks in their day-to-day operations. The company
company embeds the requirements of integrity and honesty into its employee code of conduct, mandating that
Business Unit establishes and improves its rules and regulations to clearly define the
all employees adhere to the principles of "self-discipline and integrity, honesty and trustworthiness, diligence and
responsibilities and authorities of each position, and implements risk control
responsibility, teamwork, and efficiency and transparency." In commercial activities, the company upholds the
measures tailored to specific business activities. This ensures that business
"Six Nos and One Commitment" principle: No collusion; no bribery; no gifts; no cutting corners; no falsification; no
operations remain compliant and that risks are kept under control.
commercial fraud; uphold commitments. This ongoing commitment further consolidates the foundation of compliant
operations.
As the second line of defense, JOULWATT's Finance Department coordinates
Second Line
of Defense
and oversees enterprise-wide risk management. It formulates unified risk JOULWATT Incorporates Integrity Requirements into Its Employee Code of Conduct
Coordination by Finance
management policies, processes, and tools, supervises and guides the risk
Department Self-Discipline and Integrity
management of each business unit, and ensures financial compliance and risk
Abide by laws, regulations, and the company's internal management
controllability. systems; combat corruption, strengthen self-discipline, and conduct
business in compliance with high professional ethics and moral
standards
Authorized by the Board of Directors' Audit Committee, JOULWATT's Internal
Honesty and Trustworthiness Diligence and Responsibility
Audit Department serves as the third line of defense. It performs independent
reviews and supervision of the internal control and risk management Take integrity as the foundation, uphold the spirit of Adhere to professional ethics, remain loyal to one's
respecting contracts and seeking truth from facts, Code of post, love and respect one's work, actively pursue self-
systems. Guided by the Audit Committee, the Internal Audit Department honor commitments, avoid deceiving others externally Conduct improvement, take responsibility for outcomes, and
of Defense
and oneself internally, and correct mistakes promptly perform duties with dedication
Third Line
regularly evaluates the completeness, reasonableness, and implementation
Independent Audit and
effectiveness of the company's and each business unit's internal control and
Supervision Unity and Collaboration Efficiency and Transparency
risk management systems. For issues identified during audits, the Internal
Audit Department promptly reports to both senior management and the Act with a trusting and cooperative attitude, actively Closely align with business needs, continuously optimize
cooperate with colleagues and business partners to systems and reengineer processes, foster an atmosphere
Board of Directors, and provides improvement recommendations, ensuring accomplish tasks, consider the overall situation, maintain of openness, transparency, efficiency, pragmatism, and
unity, refrain from sowing discord, spreading rumors, or inclusiveness, and improve work efficiency
continuous optimization of the internal control and risk management creating conflicts, and cultivate a harmonious and congenial
framework. company environment
In terms of system implementation, the company has established a relatively comprehensive implementation
Key Performance Indicators
and supervision mechanism around key risk areas. Following the Employee Integrity and Cleanliness System , the
company organizes annual self-inspection for talent in core and related positions, who are required to sign the JOULWATT delivered an online Employee Integrity and Cleanliness course to employees and arranged a
Integrity and Cleanliness Self-Examination Form . All employees sign the Commitment Letter on Employee Integrity
and Cleanliness upon joining, and the Human Resources Department provides explanations and guidance on its
contents. The company has also established a "Cleanliness Management Ledger" to record and update integrity-
corresponding integrity exam, achieving 1,369 completions with a 100% pass rate.
related incidents. For gifts, cash, gift cards, securities, and other items valued at RMB 300 or above that cannot be
declined for various reasons, employees are required to report them to the Administration Department and complete
a handover registration. This ensures closed-loop processes, consistency between records and physical items, and
traceable procedures. For any conduct violating the system requirements, the company will hold the responsible
parties accountable based on the established rules. In serious cases, employment may be terminated, and,
depending on the circumstances, the matter may be referred to judicial authorities for further action.
Key Performance Indicators
All new employee training at JOULWATT includes the Employee
Integrity and Compliance course and examination. In 2025, a total of
To further enhance process transparency, the company successively introduced business software such as ERP, PLM,
CRM, EHR, and OA, enabling fully online approvals for the entire chain from qualification onboarding to contract
On the level of system optimization, the company continuously focuses on aligning and adapting its internal execution for customer, distributor, and supplier management. In terms of partnership management, the company
systems to meet external collaboration requirements. For any specific integrity and compliance requirements requires suppliers to sign the Statement of Adherence to the Code of Conduct, and includes explicit anti-commercial
proposed by clients in contracts or agreements, the company initiates the External Requirement Review Procedure bribery clauses in both the Agency Processing Agreement and the Distributor Agreement, continuously extending
in conjunction with its internal management mechanisms. This ensures that such requirements are effectively integrity requirements to the supply chain and business partners.
identified, communicated, and implemented, and that the review outcomes are used to refine existing systems and
management processes. These efforts continuously enhance the targeted nature and adaptability of the company's
integrity and compliance management.
In terms of supervision and culture-building, the company strengthens integrity governance through a combination
of internal audit, whistleblower mechanisms, training and communication, and IT-based tools. The Internal Audit
Department receives complaints or reports from both the public and internal staff regarding employee violations,
and carries out examinations and investigations based on the information provided. The company also publishes its
supervision hotline and whistleblower email on its official website, offering feedback channels for employees and
other stakeholders. Moreover, the company incorporates employee integrity and cleanliness into the mandatory
All JOULWATT suppliers The Agency Processing Agreement with cooperating suppliers The Distributor Agreement with cooperating
curriculum of new employee training. The company continuously reinforces staff awareness of integrity and legal must sign the Statement of includes a clear anti-commercial bribery clause distributors includes a clear anti-commercial bribery
Adherence to the Code of clause
compliance by permanently displaying key policy documents on the OA system, conducting integrity and cleanliness
Conduct
management training, and organizing Party conduct and clean governance-themed training sessions.
Supervision and Whistleblowing Hotline Supervision and Whistleblowing Email
igital Operations, Information
D
technologies, and administrative measures related to information security
remain under controlled conditions. Through institutionalization, process
Security, and Data Protection orientation, and continuous improvement, the company steadily enhances
the systematic and effective nature of its information security management. In
addition, the company has established clear norms for data usage, storage, and
JOULWATT continues to advance the construction of its digital management system, establishing ERP, CRM, PLM,
sharing, stringently granting data access permissions against employees' job
OA, and BI platforms to cover key areas such as R&D, procurement, sales, supply chain, finance, and internal
responsibilities. This ensures that only appropriately authorized staff can access
collaboration. This drives process standardization, efficient business synergy, and data-driven business analysis.
and use sensitive information within the scope necessary for their duties.
These systems support application scenarios including resource coordination, customer management, product
lifecycle management, process approval, and business analysis, effectively improving the company's operational
The company continues to improve its information security technical safeguard
synergy, risk control, and the efficiency of business analysis.
system by implementing secure data storage practices, stringent data encryption measures, prudent transmission
management policies, and a systematic data backup management mechanism. Firewalls have been deployed,
ERP System: Enhances resource coordination and supply chain collaboration efficiency and information system protection capabilities have been enhanced through measures such as data encryption,
access control, intrusion detection, and intrusion prevention. Regular vulnerability scanning, penetration testing,
CRM System: Strengthens customer management and service support capabilities and business continuity drills are performed to promptly identify and rectify potential risks. A robust information
backup management system has been established, with clearly defined principles, procedures, and mechanisms for
PLM System: Enables full lifecycle digital management of products data recovery. Data is stored both locally and remotely, with at least one full backup performed daily, increasing the
company's ability to restore data and maintain business continuity in the event of technical failures, natural disasters,
or other unexpected disruptions.
OA System: Promotes process synergy and improves organizational efficiency
Relevant
PartiesRelevant Information Security Requirements and Expectations
BI System: Supports business analysis and data-driven decision-making
Parties
JOULWATT places high importance on information security and data privacy protection, treating them as essential
components of corporate governance, stable operations, and business continuity management. Given the company's
business model, JOULWATT primarily collects, stores, and processes business data and transaction data related Establish ISMS Monitor and Review ISMS
to its operations. This includes transaction information between the company and its customers, suppliers, and
Develop and manage ISMS policies, objectives, Evaluate and, where appropriate, measure process
other relevant parties. As the company's upstream partners are mainly wafer foundries and packaging & testing processes, and procedures related to risk management performance against ISMS policies, objectives,
service providers, and downstream partners are primarily distributors and direct sales customers, the transaction and improvement of information security, in order and practical experience, and report the results to
counterparties are predominantly corporate clients. Therefore, the company generally does not engage in direct to deliver results consistent with the organization's management for review
business with individual consumers, nor does it typically collect personal customer information or conduct cross- overall mission and goals
border transfers of personal data. Based on this, the company continuously improves its management mechanisms
focusing on the confidentiality, integrity, and availability of data. The company controls over data maintenance,
storage, transmission, sharing, and usage, preventing risks such as data leakage, loss, and unauthorized access,
thereby safeguarding sensitive information and ensuring the stable operation of all business activities. Implement and Operate ISMS Maintain and Improve ISMS
Execute the ISMS policies, controls, processes, and Take corrective and preventive actions to continuously
In terms of management system development, the company has established and implemented an Information procedures improve the ISMS based on the results of ISMS internal
Security Management System (ISMS) in line with the ISO/IEC 27001 standard. This has formed an information security audits and management reviews or other relevant
governance structure led by the General Manager, driven by the IT Department, and supported collaboratively by information
multiple departments. The company has also developed information security policies including the Information
Security Management Manual, the Computer Password Management Procedure, and the Network Security
Management Procedure, which regulate the classification and grading of information assets, account permission
control, network and endpoint security, backup and recovery, and emergency response. JOULWATT adopts the
Relevant
Controlled Information Security
PDCA (Plan-Do-Check-Act) continuous improvement model as a key method for information security management.
PartiesRelevant
Following a risk management philosophy, the company emphasizes process control, ensuring that resources, Parties
Routine Information System Protection Measures case sharing, and professional training—the company continuously improves the political literacy, theoretical
knowledge, and job performance of Party members and cadres, encouraging them to take initiative and responsibility
Intrusion in their respective roles. Furthermore, the company leverages the fortress role of Party organizations and the
Data encryption Access control Intrusion detection Data backup
prevention vanguard and exemplary role of Party members. By linking key positions, priority tasks, and real operational needs,
the company deepens initiatives such as the creation of "Party Member Pioneer Posts", encouraging Party members
Business continuity Risk identification Vulnerability to demonstrate their identity, serve as role models, and lead the way in technological breakthroughs, business
Penetration testing
drills and rectification scanning
management, and service support. This effectively transforms learning achievements into concrete outcomes driving
the company's growth.
In terms of system implementation and talent management, the company simultaneously strengthens confidentiality
When studying and implementing the spirit of important meetings, the company combines centralized learning with
obligations, training and communication, and constraints on partners. The company requires employees to sign
self-directed study, using Party organization meetings, thematic study sessions, and other platforms to systematically
confidentiality agreements upon joining, stringently prohibiting the unauthorized disclosure of any confidential
carry out the learning and communication of relevant principles. Party members are encouraged to share their
information. The company continuously improves employees' information security awareness and operational skills
learning insights in relation to their job responsibilities and actual work, continuously strengthening political
through diversified training and practical activities. In its cooperation with suppliers, confidentiality and information
identification, ideological identification, and action consciousness, and promoting the alignment and mutual
security responsibilities are clearly stipulated in contractual clauses, reinforcing information protection requirements
reinforcement of Party building and corporate development.
throughout the supply chain.
Through the establishment of management systems, permission management, technical safeguards, backup and
recovery, ongoing drills, and talent controls, JOULWATT continuously enhances its capabilities in information security
and privacy protection. During the reporting period, the company experienced no incidents of customer confidential
information leakage, nor did it encounter any other information-related events that had a material adverse effect on
its business, financial condition, or operating results.
arty Building Leadership and
P
Organizational Development
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, JOULWATT thoroughly studies
and implements the spirit of the 20th CPC National Congress and the Second and Third Plenary Sessions of the 20th
CPC Central Committee. The company earnestly applies the general requirements for Party building in the new era,
closely aligns with the relevant deployment and requirements of Zhejiang Province and Hangzhou Municipality, and JOULWATT's Team Building Activities on Party Day
continuously improves the quality of Party building and organizational effectiveness. This ensures that high-quality
Party building leads the company's high-
quality development, providing a strong
political guarantee for stable operations and
innovation.
In ideological education, the company has
established a regular learning mechanism,
integrating theoretical study with business
management and job practice, to ensure
that the Party's innovative theories are
internalized and produce tangible results.
T h ro u g h va r i o u s fo r m ats — i n c l u d i n g
thematic study sessions, group discussions,
Party Building Wall of JOULWATT Exchange Activities among Party Branches Basketball Match for JOULWATT's Party Day
Continuously Advancing R&D Innovation 31
Ongoing Quality Management Improvement 33
Innovation Builds the Core: Technology Ethics and Responsible Innovation 35
Improving Technological Innovation Mechanisms 36
Intellectual Property Management and Protection 39
R&D, Quality, and Intellectual Property
As a strategically important industry supported and encouraged by China, the integrated circuit sector is a key The company has formulated the Integrated Product Development Process, which systematically standardizes
foundation for driving scientific and technological innovation and industrial upgrading. JOULWATT upholds its each stage of R&D to ensure the systematic, consistent, and traceable nature of R&D activities. By maintaining close
mission: "to deliver innovative, efficient, and reliable analog semiconductor solutions, continuously creating collaboration with wafer foundries, packaging and testing factories, and downstream application manufacturers, the
maximum value for our customers." The company regards R&D and innovation as the key driver of its sustained company continuously improves product development efficiency, quality, and market responsiveness.
growth and the advancement of the industry, consistently increasing R&D investment. The company continuously
strengthens its technical capabilities in processes, design, and system definition, advancing toward its vision: "to be
JOULWATT Virtual IDM Business Model
present in every electronic device and become a leading player in the analog integrated circuit industry."
Continuously Advancing R&D Innovation
Since its founding, JOULWATT has adhered to a technology path of "innovation-driven, independent R&D," forming
a complete R&D and technology system covering processes, IC design, and system definition. Centered on the virtual
BCD Process Development
Packaging and Testing
IDM model, the company has progressively developed a research system spanning process, integrated circuit design,
System Definition
Wafer Production
Integrated Circuit
GDS Wafers Tested
End Customers
and system definition. Guided by the development policy of "produce one generation, research one generation,
Layout Design
Wafer Testing
Distributors
File Wafers
develop one generation, and reserve one generation," the company has improved the end-to-end R&D process—
from market demand identification, feasibility analysis, and project initiation, to process development, circuit design, Collect
Custom
analog optimization, layout design, tape-out verification, and mass production evaluation.
er
Requir
ements
Packaging and
The Company Wafer Chip Testing Service
Foundries Testing Providers
Factories
Process Function Table
Capital Flow Business Processes
In the area of process R&D, JOULWATT relies on the Virtual IDM model to continuously advance the development of
its proprietary BCD process platform, breaking away from the traditional fabless model's dependence on generic
process platforms. The company works closely with major domestic wafer foundries for targeted process R&D based
JOULWATT was selected for inclusion in the 2025 China JOULWATT was honored with the Industry Excellence on product requirements, so that manufacturing process capabilities are aligned with the need for integrated circuit
Automotive Chip Supply Handbook Award for Intelligent Computing Power Supply Solutions development. This enables higher performance and greater cost-effectiveness. The company has established three
by 21dianyuan.com major process platforms: 0.18-micron, 7–55V medium- and low-voltage BCD process (with certain voltage segments
extended to 90nm); 0.18-micron, 10–200V high-voltage BCD process; and 0.35-micron, 10–700V ultra-high-voltage
BCD process. The company's BCD process platforms consist of component libraries, technical standards, and Process
Design Kits (PDKs), which provide a standardized, integrated, and reusable technical foundation for the repeated
development and manufacture of various types of integrated circuit products. This enables the company to sustain
its technical strength and support the development of multiple categories of differentiated products.
In terms of products and design capabilities, leveraging strong integrated circuit design and system definition
capabilities, the company continues to expand its product matrix and optimize application adaptation. The
company's core R&D team has long been deeply engaged in the analog integrated circuit (IC) domain, carrying
out system definition based on downstream application requirements. By collecting market demand, evaluating
product feasibility, and formulating detailed product specifications, the team optimizes system architecture and key
JOULWATT was awarded the title of Innovative JOULWATT received the 2025 Most Competitive Chinese parameters based on specific application scenarios—achieving high-efficiency integration between IC products and
Application Enterprise by FCA Chips award in the "AI Server Power Supply" category, downstream application systems.
presented by EEWORLD
Through its one-stop full product line strategy, the company has continuously refined its product portfolio, JOULWATT Quality and Environmental Certifications
establishing a relatively comprehensive analog chip layout. The company has built strong technical barriers and
market competitiveness in product areas such as DC-DC chips, multiphase controllers and DrMOS, and AC-DC chips.
During the reporting period, JOULWATT and its subsidiaries offered over 3,700 integrated circuit (IC) product models
for sale. These products cover a wide range of areas, including communications, consumer electronics, industrial
applications, AI, computing and storage, automotive electronics, and new energy.
Communications Automotive Computing and Industrial Consumer
Electronics Electronics Storage Applications Electronics
IATF 16949 ISO9001:2015 ISO14001:2015 ISO26262:2018 ISO45001:2018 QC080000:2017
Automotive Industry Certificate Certificate Certificate Certificate Certificate
Quality Management
System Certificate
Wireless Smart Cockpit Servers New Energy Mobile Phones Relying on rigorous quality control measures, the company's products maintain a high level of stability across
Infrastructure Battery-Motor- Data Centers Industrial Control Televisions different application environments. The customer application failure rate is lower than the industry average, and
Switches Electric Control Personal Robotics, etc. Displays, etc. this strong quality performance supports the company in developing high-quality customers, intensifying customer
Network Terminals, Systems Computers, etc. collaboration, and enhancing market competitiveness.
etc. Autonomous
Driving, etc.
JOULWATT Quality Policy
Ongoing Quality Management Improvement JOULWATT commits to continuously delivering to its customers exceptional performance, reliable
quality, superior service, and superiorities to expectations
JOULWATT has always regarded quality management as a fundamental basis for ensuring customer satisfaction,
improving operational efficiency, and supporting long-term development. The company integrates the quality
concept into its corporate culture, mission, values, and the entire process of business management. The company
Exceptional Reliable Quality Superior Service Superiorities to
continuously improves its quality management system covering R&D design, supply chain collaboration,
Performance Expectations
manufacturing, testing and verification, and customer service, extending quality management from outcome Our products not Our professional
control to whole-process prevention, control, and continuous improvement. To meet customers' requirements Our product only incorporate sales, technical, All JOULWATT
for high quality and high reliability products, the company has established an experienced quality control team specifications meet outstanding and quality teams employees shall
that implements systematic control over product design, production, testing, and operational management. It internationally performance metrics, provide timely pre- remain steadfast in
continuously optimizes quality assurance mechanisms and management processes to ensure stable product advanced metrics but also exhibit long- sale, in-sale, and their commitment
performance across diverse application scenarios. in the analog IC lasting durability after-sale support, to strive to meet,
sector, earning strong under various ensuring that and even exceed,
The company has passed the following certifications: IATF 16949 Automotive Industry Quality Management System favor and trust from extreme conditions, customer needs are the needs and
Certification; ISO9001 Quality Management System Certification; ISO14001 Environmental Management System customers gaining recognition fully identified and expectations of
Certification; ISO45001 Occupational Health and Safety Management System Certification; ISO26262 ASIL-D from customers met, thus winning customers and other
Functional Safety Certification; and IECQ QC 080000 Hazardous Substance Process Management System Certification, positive acclaim from relevant stakeholders
among others. customers
Guided by the Quality Policy, the company has established a dynamic management mechanism covering the The company is committed to advancing technology R&D and application with a responsible attitude, paying close
entire product life cycle in quality management practice, centered on two dimensions, i.e., quality assurance and attention to the impact of potential ethical risks on customers, partners, and business operations. By improving
continuous improvement. In terms of quality assurance, the company drives the effective implementation of key internal management mechanisms, strengthening cross-departmental collaboration, and maintaining ongoing
quality milestones through measures such as standardized R&D and design, collaborative supply chain control, communication, the company continuously enhances its technology ethics risk management capabilities. In future
traceability of the manufacturing process, and change management. In terms of continuous improvement, oriented product development and application, the company will remain focused on safety, compliance, and potential ethical
by customer needs, the company uses an intelligent quality data platform to monitor and analyze on-site defect rates risks, while emphasizing the balanced integration of technological innovation and regulated application.
and customer satisfaction; this promotes coordinated optimization between the design and manufacturing stages,
forming a closed-loop management system of "prevention - control - improvement", thereby continuously raising
product yield, customer satisfaction, and overall quality management standards.
JOULWATT Quality Operation Management System
I mproving Technological Innovation
Mechanisms
TQM
Excellent Quality Operation Management System
JOULWATT continues to refine its independent R&D-centered technological innovation mechanism, consistently
strengthening the R&D foundation in processes, integrated circuit design, and system definition. The company
Quality Assurance Activities Continuous Improvement Activities maintains long-term R&D investment, continuously drives the iterative upgrade of its BCD process platform,
and expands the product portfolio of power management chips and signal chain chips in line with market
Change Management Activities
Continuous Improvement on
Continuous Improvement on
Continuous Improvement in
Internal and External Audits
demand. Moreover, the company builds a professional talent pool by combining internal cultivation with external
Continuous Improvement
R&D Quality Management
the Product Design Side
the Manufacturing Side
Management Activities
Management Activities
Customer Satisfaction
recruitment, and continuously intensifies collaboration with institutions of higher education and external innovation
Production Quality
After-Sales Service
in the FDPPM resources. This approach drives the coordinated development of technology R&D, talent development, and the
Activities
commercialization of research outcomes.
R&D Expenditure (Unit: RMB ten thousand)
Information Platforms; Application of Statistical Techniques; and Audit/
ISO9001/IATF16949
Inspection Implementation
Process Approach PDCA Full Participation Continuous Motivation
echnology Ethics and Responsible
T 19,857.56
Innovation 6,120.10
JOULWATT adheres to prudent and sound R&D and business principles, integrating technology ethics requirements
into the entire process of technological innovation and product application. The company places great emphasis
on the safety, compliance, transparency, and privacy protection of technology development and its application.
Throughout product design, R&D, testing, and application support, the company stringently complies with relevant
laws, regulations, regulatory requirements, and industry standards. The company continuously strengthens the
identification, assessment, and control of risks associated with technology application, ensuring that related
technologies and product developments meet both compliance and ethical requirements.
The company places high importance on building a strong talent pool, continuously forming a professional team that
Case｜ JOULWATT's Automotive-Grade Products Selected Again for the Reliability Grading Directory
spans the entire semiconductor industry chain by combining internal cultivation with external recruitment. During of Domestic Automotive-Grade Chips (2025)
the reporting period, the company had 1,202 R&D professionals, accounting for 60.98% of the total workforce, of In May 2025, the 12th Automotive Electronics Innovation Conference & Automotive Chip Industry Ecosystem
which over 97.09% held a bachelor's degree or higher. The core R&D team possesses educational backgrounds from Development Forum (AEIF 2025) was held in Shanghai, jointly organized by the China Integrated Circuit Design
renowned domestic and international institutions of higher education, as well as professional experience at leading Innovation Alliance, the China Automotive Chip Industry Innovation Strategic Alliance, and the Shanghai Society
global analog integrated circuit companies. They hold accumulated extensive expertise in power management chips, of Automotive Engineers. During the conference, the Reliability Grading Directory of Domestic Automotive-
signal chain chips, process R&D, and integrated circuit design. In addition, the company's sales, operations, and Grade Chips (2025) was officially released. JOULWATT had 5 automotive-grade chips included in the directory:
quality control teams also possess relevant semiconductor education and industry experience, creating an efficient JWQ5103, JWQ5156, JWQ52993, JWQ7065, and JWQ71845HSSDA.
collaboration network extending from product development and production operations to market application. The This marks the second consecutive year that JOULWATT has been listed in the Reliability Grading Directory
company also continuously stimulates employees' innovation vitality and strengthens technical security through a
of Domestic Automotive-Grade Chips, reflecting
range of arrangements, including performance bonuses, employee stock ownership plans, training systems, career
the company's continued investment in the
development pathways, as well as non-disclosure agreements, non-compete agreements, and the information wall
automotive-grade chip segment and its high level
system.
of product reliability. These achievements not only
reflect the company's long-term accumulation in
In terms of industry-academia-research-application collaboration and technical exchange, the company deepens
the automotive electronics sector, but also provide
its cooperation with institutions of higher education and external innovation resources, promoting the coordinated
strong support for further deepening automotive-
development of technological innovation and talent cultivation. During the reporting period, the company donated
grade product R&D and expanding automotive
RMB 30,000 to the Zhejiang University Education Foundation for the purpose of funding the "JOULWATT Prize for the
application scenarios.
School of Electronics" administered by the Foundation. The company has signed strategic cooperation agreements
with the ZJU-Hangzhou Global Scientific and Technological Innovation Center and the School of Integrated Circuits,
Zhejiang University, working together on key core technology breakthroughs, research platform development, talent
matching, and the commercialization of scientific and technological achievements. Additionally, by participating in
industry associations, forums and exhibitions, expert exchanges, and specialized training programs, the company Case｜ J OULWATT Makes Its Debut at ICAC 2025, Deepening Industry-Academia Exchange and
keeps abreast of technological iterations, market demands, and industry trends. This enhances R&D reserves and Technical Mutual Learning
product competitiveness, while further strengthening the company's product layout and solution capabilities in key JOULWATT has always placed great importance on cultivating innovative talent and fostering industry-academia
application areas. collaboration.In March 2025, the 7th International Conference of Academicians on ASIC Design (ICAC 2025) was
held in Futian, Shenzhen. JOULWATT participated for the first time as an invited enterprise. The ICAC serves as
a high-level technical exchange platform connecting academia and industry in China's integrated circuit design
sector. Through open discussions, experience sharing, and cooperative dialogue, it drives technological progress
and innovation-driven development.
As a first-time invited participant at ICAC 2025,
JOULWATT attached great importance to the event,
sending several R&D engineers to attend. They
engaged in in-depth exchanges with university
faculty and students, as well as industry experts,
on topics such as chip design technology, industry
development trends, and innovation directions.
Through close interaction with young talent from
academic institutions and in-depth communication
w i t h i n d u st r y e x p e r ts , t h e co m pa n y f u r t h e r
broadened its understanding of cutting-edge
technologies and future trends, while gathering
valuable experience for subsequent talent exchange
and technical collaboration.
In terms of product strategy, the company adheres to a one-stop product development approach, continuously During industrial collaboration, the company also places great emphasis on protecting core technologies and trade
optimizing its product portfolio through sustained R&D investment and the exploration of strategic cooperation, secrets. During production cooperation with wafer foundries, the company retains ownership of the core intellectual
investment, and M&A opportunities. This enhances product synergy and market penetration capabilities. The property related to device design, and stringently keeps technical information confidential; the foundry only
company is advancing product development and technology deployment in key areas such as automotive receives the basic process data necessary for production, and has no access to complete proprietary design files.
electronics, computing, robotics, AR/VR, and new energy. It is accelerating the development of high-performance The company also signs confidentiality agreements with the foundry to ensure the security of its core technologies.
multiphase controllers and DrMOS, high-efficiency high-current DC-DC converters, PMUs, highly integrated SBCs, During the reporting period, the company did not experience any intellectual property infringement threats or
high-precision sensors, high-speed data connectivity, and high-speed, high-precision data converters. These efforts pending disputes that could have a material adverse impact on its business. By improving the IP management system
continuously enhance the company's solution capabilities for emerging markets, providing sustained momentum for and strengthening the protection and process control of outcomes, JOULWATT has further enhanced the protection
high-quality development. and application management of its technological innovation achievements.
I ntellectual Property Management
and Protection
JOULWATT remains committed to independent R&D, continuously building its innovation base around core analog
chip technologies and establishing a relatively comprehensive intellectual property (IP) portfolio and management
system. All of the company's core technologies are independently owned with clear rights, and are protected through
a systematic approach encompassing patents, copyrights, trademarks, domain names, know-how, and trade secrets.
The company stringently complies with laws, regulations, and standards such as the Patent Law of the People's
Republic of China, the Trademark Law of the People's Republic of China, and the Enterprise Intellectual Property
Management Standard. The company has established an intellectual property management system that includes
documents such as the Intellectual Property Management Workbook, the Intellectual Property Management System
Policy Documents, and the Intellectual Property Management System Control Procedure Documents. The company
passed certification to the Enterprise Intellectual Property Management Standard in 2018 and continues to optimize
the system and improve management practices. A dedicated Intellectual Property Management Department has been
set up to coordinate patent filing, searching, analysis, rights protection, trademark management, integrated circuit
layout design registration, and intellectual property customs recordal. The company also allocates special funds and JOULWATT's Certificate of Intellectual Property An Intellectual Property Demonstration Enterprise in
implements a reward mechanism to encourage employees to actively participate in technological innovation and Compliance Management System Zhejiang Province
patent applications, thereby continuously enhancing the efficiency of intellectual property management and the
vitality of innovation.
During the reporting period, JOULWATT and its holding subsidiaries filed a total of 255 patent applications, including
declared by JOULWATT has been included in the Key Protected Trademarks List of Zhejiang Province. All of the
company's core technologies are proprietary, with clear ownership, and are protected primarily through patents,
copyrights, trademarks, trade secret measures, and confidentiality agreements signed with customers, suppliers,
employees, and partners. In terms of online management, the company continuously optimizes its patent
management system, enabling full-process online handling of patent filing proposals, applications, searches, and
subsequent maintenance, while reducing the risk of document leakage through traceable records and access control.
Furthermore, the company's Legal Department has conducted training sessions on patent technology disclosure and
mining for R&D, market application, technology development, and relevant subsidiaries, continuously enhancing the
ability to convert and protect patent achievements.
JOULWATT Patent Management System
Building a Responsible Supply Chain 43
Responsible Procurement Management 46
Ecosystem Collaboration: Compliance Marketing Management 49
Customer Service and Support 50
Supply Chain, Customers, and Low-Carbon Operations Climate Action and Green Operations 52
Building a Responsible Supply Chain Measures ｜ Establish a Supply Risk Early Warning Mechanism and an Emergency Response Mechanism
for Delivery Disruptions
JOULWATT has established a risk management mechanism covering the entire lifecycle of suppliers—from
JOULWATT consistently regards supply chain stability, compliance, and collaborative efficiency as fundamental to
onboarding, cooperation, and evaluation to exit. Risk identification and assessment are performed through
ensuring product delivery and supporting business growth. The company continues to improve its supply chain
performance scoring, interviews, historical data analysis, and metrics such as finance, delivery, and quality.
management mechanisms, promoting the joint development of a robust, transparent, and sustainable cooperative
To address the risk of delivery disruptions, the company has also set up an emergency response process:
ecosystem with its partners. As an analog integrated circuit design enterprise operating under a virtual IDM model,
the Operations Department provides advance warning and formulates countermeasures, while the Sales
the company focuses on chip R&D and design, while collaborating with wafer fabs, packaging and testing factories,
Department promptly communicates with customers. When product delivery is significantly affected, the
and other partners to complete the manufacturing process. On this basis, the company continuously strengthens
company will restore supply as quickly as possible by leveraging backup factories, remedial shipments, and
collaborative management of critical segments, enhances supply assurance, operational resilience, and supply
other means, thereby ensuring stable operation of the supply chain.
efficiency, and deepens cooperation with high-quality suppliers and advances centralized procurement, thereby
laying a solid foundation for long-term stable operations.
Measures ｜ Implement Graded Access and Performance Management
Supplier Onboarding and Management
The company has established tiered entry and performance management requirements for outsourcing
JOULWATT has established a relatively systematic supplier management system and processes, covering the partners, focusing on business qualifications, quality and environmental management systems, technical
selection, onboarding, auditing, production management, and performance evaluation of suppliers and outsourcing capability, production capacity, commercial reputation, and sustainability criteria. During the course of
partners. Following regulations such as the Supplier/Outsourcing Partner Management Guidelines and the Supplier/ cooperation, the company evaluates packaging and testing subcontractors based on quality, capacity, delivery,
Outsourcing Partner Selection and Qualification Process, the company conducts comprehensive assessments of and cost dimensions, and feeds the scoring results and areas for improvement back to the suppliers, driving
potential suppliers, covering qualifications, technical capabilities, quality and environmental management systems, continuous improvement and closing the management loop.
cost, production capacity, and willingness to collaborate. Requirements related to confidentiality, environmental
management, code of conduct, business continuity, and information security are incorporated into the onboarding
and qualification documentation framework. JOULWATT is committed to building long-term, stable, and mutually trusting relationships with its suppliers.
By improving the supplier management system, enhancing process transparency, and extending integrity and
In supplier selection and performance management, the company implements cross-departmental collaborative compliance requirements throughout the supply chain, the company supports product quality, delivery capability,
management, with teams from Quality, Operations, Packaging & Testing Engineering, New Product Engineering, and its own sustainable development.
and Yield Improvement jointly participating in supplier audits, in-process quality management, annual reviews,
performance evaluations, change management, and traceability management. For outsourcing partners, the Supplier Collaboration and Capability Enhancement
company sets entry thresholds based on business qualifications, ISO system certifications, quality and commercial
reputation, technical and process capabilities, MES production control, and sustainability requirements. During the
course of cooperation, performance is evaluated against quality, capacity, delivery, and cost criteria, with the results JOULWATT adheres to a strategy of advancing together with its suppliers, continuously driving the supply chain
fed back to the suppliers to support continuous improvement in a closed-loop manner. toward greater stability, efficiency, and sustainability. As an analog integrated circuit design company operating under
a virtual IDM model, the company focuses on R&D and chip design, while collaborating with wafer fabs, packaging
In terms of supply assurance and risk control, the company incorporates planning management, inventory and testing factories, and other partners to complete the manufacturing process. This model maintains the flexibility
preparation, and emergency response to delivery disruptions into its supply chain collaboration mechanism. of asset-light operations, while also enabling the company to enhance supply chain resilience and strengthen product
The Operations Department formulates annual, monthly, and weekly production plans in a coordinated manner, iteration and market responsiveness through deep involvement in and management of critical manufacturing stages.
taking into account business objectives, sales forecasts, inventory levels, work-in-progress status, and suppliers'
production capacity and lead times. The department dynamically assesses changes in demand and stocking In the wafer manufacturing stage, the company continues to deepen process collaboration with upstream wafer
arrangements through regular production-sales meetings. Moreover, the company has established the Supplier foundries. Leveraging long-term R&D accumulation and mass production experience, the company has collaborated
Risk Management Code, which includes compliance, financial, operational, strategic, and external risks within the with leading domestic wafer foundries to establish a proprietary BCD process platform covering 5V to 700V,
coverage of identification and assessment, and requires new suppliers to undergo evaluation before onboarding, developing process capabilities for medium- and low-voltage, high-voltage, and ultra-high-voltage applications.
and existing suppliers to be subject to periodic re-evaluation. To address the risk of delivery disruptions, the This platform aligns more closely with chip design requirements, providing support for higher integration, efficiency,
company has developed the Emergency Response Procedure for Delivery Interruption, under which the Operations and product performance, while further strengthening the process-level collaboration between the company and its
Department issues early warnings and formulates countermeasures; the Sales Department promptly communicates wafer foundries.
with customers, and, when necessary, expedites resumption of delivery through remedial shipments, backup factory
checks, or risk-based mass production.
Responsible Procurement Management
In the packaging and testing stage, the company drives its partners to continuously improve manufacturing and
delivery capabilities through ongoing evaluation and a collaborative mechanism. The company evaluates packaging
and testing subcontractors on quality anomalies, improvement lead time, packaging yield, production capacity,
and delivery performance, and feeds the results back to the suppliers to promote a closed loop of continuous
JOULWATT embeds responsible procurement requirements into the entire supply chain management process,
improvement. Furthermore, the company takes into account technical capability, production capacity, and historical
incorporating not only quality, delivery, and cost considerations but also environment, information security,
performance when selecting partners, giving priority to those with stronger track records, in order to improve the
business continuity, and business ethics. Through documents such as the Supplier Environmental Management
stability of packaging and testing quality and enhance supply assurance.
Questionnaire, the Code of Conduct Compliance Statement, and the Information Security and Trade Compliance
Requirements for Suppliers, the company drives suppliers to implement relevant responsibilities during onboarding
In addition, the company continues to promote supply chain localization and build collaborative resilience,
and cooperation. It has also established special mechanisms for key issues such as conflict mineral management and
consolidating the domestic manufacturing base by deepening cooperation with local wafer foundries and production
hazardous substance control, continuously improving procurement transparency and environmental risk prevention
partners. Through mechanisms such as production planning, inventory preparation, and emergency response to
capabilities. For suppliers and subcontractors, the company extends responsible procurement requirements through
delivery disruptions, the company strengthens forecasting and coordinated handling of supply fluctuations, thereby
document review, survey feedback, system audits, and corrective actions for non-conformities.
enhancing overall supply chain stability. By advancing collaboration with partners in process development, mass
production delivery, and continuous improvement, JOULWATT steadily enhances the autonomous controllability of
During procurement execution, the company standardizes the onboarding of new suppliers, with cross-functional
its supply chain, providing support for the company's long-term stable development and the coordinated upgrading
teams from Purchasing, Quality, Technology, and Operations conducting joint reviews, and performing system and
of the domestic integrated circuit industry chain.
process audits when necessary. For partners already on the qualified supplier list, the company makes selections
based not only on technical capability and production capacity but also on performance evaluation results, giving
priority to those with better performance.
Case｜ JOULWATT Appears at the "New Quality Industry · Leading the Future" Summit,
Supporting Collaborative Upgrade of the Domestic Industrial Chain
In the ongoing cooperation phase, the company further strengthens responsible procurement requirements. The
In May 2025, JOULWATT was invited to attend the "New Quality Industry · Leading the Future" themed summit,
company requires outsourcing partners to establish risk identification and control mechanisms covering natural
where it shared the company's technology deployment and application practices in domestic industrial
disasters, pandemics, and other events, and to develop corresponding assessment, action, and communication
automation during the Industrial Automation Sub-forum. At the event, the company introduced its product
plans. The Operations Department continuously monitors the capacity and delivery status of key outsourcing
capabilities and solution portfolio in power management and signal chain chips for industrial control scenarios,
partners and enhances the sustainability of critical supply chains through multi-vendor certification. The company
showcasing related products applied in PLC, DCS, servo/inverter, and industrial PC systems. This exchange
also requires partners to retain relevant records and return test data as specified, for subsequent statistical analysis
highlighted the company's practical direction in supporting collaborative upgrade of the domestic industrial
and process monitoring.
chain through technological innovation and scenario-based solutions.
In addition, the company upholds the principles of openness, fairness, and impartiality in supplier management. For
lower-tier suppliers or subcontractors recommended by customers, the company follows the established procedures
for qualification. For second-tier suppliers and raw material management, the company requires outsourcing partners
to incorporate onboarding certification, performance management, exception management, change management,
and environmental substance management into their own supplier control systems, and supervises effectiveness
through annual audits or online inspections. By integrating environmental, quality, information security, supply
continuity, and code of conduct requirements into the entire procurement and cooperation process, JOULWATT
continuously enhances the responsibility orientation of its procurement management and the resilience of its supply
chain.
Supplier Environmental and Social Risk Management
Measures ｜ Establish a Due Diligence Mechanism for Conflict Minerals
To implement responsible procurement requirements, JOULWATT formulated the JOULWATT Conflict Minerals
Management Code , incorporating conflict minerals management into the supply chain management system,
Suppliers must comply with environmental protection laws and regulations, ensure conflict minerals and requires that relevant policies be communicated to subcontractors, who must investigate
compliant discharge of pollutants, and take appropriate measures to reduce the conflict mineral risks, identify, and halt related illegal activities. The policy also requires subcontractors to
environmental impact of production activities. provide accurate and complete mineral supply chain information, ensure lawful mineral origins, and cooperate
with the company's investigations and documentation requests.
At the execution level, the company conducts annual surveys of subcontractors using the latest version of the
reported to customers; if risks are identified, suppliers must promptly make explanations, cease use of the
Suppliers must implement hazardous substance management requirements to minimize
relevant minerals, and reconfirm the origin of minerals. By extending policy requirements to subcontractor
the use of substances potentially harmful to the environment and human health at the
investigations, customer feedback, and a closed-loop rectification process, the company continuously improves
source.
transparency in mineral procurement and improves supply chain responsibility management.
Suppliers are encouraged to adopt low-pollution processes, environmentally friendly Measures ｜ Establishing a Full Lifecycle Management Mechanism for Hazardous Substances
equipment, and recyclable materials to improve resource efficiency and reduce waste
generation. To ensure environmental compliance requirements are integrated throughout the entire procurement and
supply chain management, JOULWATT has established the JOULWATT Hazardous Substances Management
Code, which brings product materials, packaging materials, and related production processes under unified
management. This covers wafer manufacturing, chip packaging, and final testing stages. The code aims to meet
Where hazardous chemicals are involved, suppliers must store, transport, and use them in the environment, and is implemented through collaboration among the Quality Department, Packaging Design
strict accordance with relevant regulations to prevent leakage and safety incident risks. Department, and Operations Department.
At the execution level, hazardous substance management is embedded into new product introduction, mass
production change control, and supplier collaboration processes. During the new product introduction,
materials that meet the code requirements are prioritized, and third-party test reports and material composition
addition of new test facilities also require compliance review before proceeding. The company extends these
Suppliers must comply with workplace safety laws and regulations, standardize
requirements to subcontractor management, mandating testing and the provision of material information and
site management, strengthen employee training, and ensure the safety of working
test reports. For high-risk subcontractors and high-risk materials, regular environmental audits are carried out.
environments and facilities.
By integrating legal and customer requirements, material review, subcontractor testing, and nonconformance
handling into a unified mechanism, JOULWATT continuously improves the transparency of responsible
procurement and its capability in environmental risk prevention.
Suppliers must adhere to fair competition principles, eliminate bribery, fraud, and unfair
competition, and jointly maintain a transparent and regulated business environment.
Compliance Marketing Management
compatibility, product line fit, and end-customer profiles. Distributors are required to record end-customer coverage
in the CRM system, which automatically prevents duplicate registrations, thus reducing channel overlap and inter-
distributor competition risks. The company also continuously strengthens distributor training, supervision, and policy
communication, aligning distributor behavior with the company's sales standards and compliance requirements, and
JOULWATT adheres to honest business practices and compliant marketing, consistently applying the concept of
steadily improving the transparency, professionalism, and standardization of marketing activities.
responsible marketing throughout all market promotion and sales activities, ensuring that information about
products and services conveyed externally is truthful, accurate, and transparent, and effectively safeguarding the
legitimate rights and interests of customers. The company adopts a "distributor-led, direct sales as supplement"
sales model, stringently complies with the Advertising Law of the People's Republic of China and other relevant
laws and regulations, and strengthens marketing compliance through internal codes such as the Sales Management
Regulation. During the reporting period, the company did not incur any regulatory penalties for marketing violations
Customer Service and Support
or false advertising.
JOULWATT always upholds the core value of "customer first," guided by customer satisfaction, grounded in product
In marketing management, the company has established a relatively comprehensive institutional framework covering quality, and supported by long-term reliability, continuously providing advanced, dependable, and comprehensive
content creation, information release, and marketing event organization. Regulations such as the Sales Management products and solutions.
Regulation, the Sensitive Information Management Regulation, the Information Classification and Handling Guide,
the Administrative Measures for Publicity Content Grading, and the Administrative Measures for Exhibition Application In customer service, the company has built a global sales and technical support network, with a dedicated customer
Process in place to regulate promotional materials and external communications. All promotional materials must be service team responsible for collecting, recording, and handling customer feedback and complaints, and responding
reviewed by relevant functions—including business, legal, and intellectual property teams—before official release, promptly to needs related to product issues, order processing, product delivery, and sample requests. The company
to ensure alignment with actual business conditions and compliance with accuracy, truthfulness, and legality also has specialized customer quality engineering and failure analysis teams, providing technical support and
requirements. service assurance at the pre-sale, in-sale, and after-sale stages. In the after-sale phase, the company proactively
communicates with customers, identifies and resolves problems in a timely manner, and offers technical support
Besides, the company emphasizes the professional competence and compliance awareness of marketing talent, for customers' downstream product applications, continuously enhancing the overall service experience. During the
organizing regular training on brand promotion, publicity standards, and consumer rights protection, to ensure reporting period, the company received no significant customer complaints.
employees understand and implement responsible marketing requirements. The company also enhances consistency
in external communications through a standardized brand management mechanism, continuously safeguarding In customer development and collaboration, JOULWATT leveraged its technology R&D, product portfolio, and service
brand image and market reputation. capabilities to establish long-term relationships with key customers in multiple downstream application areas,
entering the supply chains of leading players in automotive electronics, communications electronics, computing and
In distributor management and channel collaboration, JOULWATT primarily sells and promotes products through storage, industrial applications, and consumer electronics. Through ongoing technical exchanges and application
third-party professional distributors, and continuously optimizes its distribution network covering major domestic collaboration, the company expands the depth and breadth of product use, and uses customer feedback to
and international markets, leveraging distributors' resources and service capabilities to expand market reach and continuously refine R&D direction, product performance, and service responsiveness, creating a virtuous cycle in
improve product accessibility. which customer needs drive product iteration and product capabilities enable customer value realization.
In terms of management mechanisms, the company has established a relatively systematic framework covering
distributor onboarding, process management, and performance evaluation. Distributors are selected based on factors
such as channel resources, past performance, sales experience, financial standing, and reputation, and are subject
to regular reviews of their business performance. During the reporting period, the company continued to optimize 95.60%
distributor management processes, using a CRM system to systematize operations such as account registration,
sample requests, order processing, shipment tracking, and sales coverage management. The company also unified
During the reporting period, 92.86%
pricing support policies, issued the latest updates in a timely manner, and improved channel coordination efficiency 89.11%
and standardization. The CRM system is also used to verify distributor sales data, inventory levels, and shipment customer satisfaction reached
status, and combined with quarterly on-site sampling to reduce the risk of channel stuffing.
To ensure orderliness in distribution and marketing compliance, the company implements refined management of its
distributor channels. Typically, the company assigns each distributor a specific geographic area, with sales territory 2021 2022 2023 2024 2025
restrictions stipulated in agreements. Moreover, differentiated distribution strategies are adopted based on industry
Case｜ J OULWATT Debuts at CEIC 2025, Showcasing Multi-Scenario Solutions for Consumer Case｜ JOULWATT Invited to Geely Automobile Research Institute's Domestic Chip Technical Exchange
Electronics Exhibition, Deepening Collaboration on Automotive-Grade Chip Applications
In November 2025, JOULWATT participated in the Consumer Electronics Innovation Congress (CEIC 2025), In August 2025, JOULWATT was invited to participate in the "2025 Geely Automobile Research Institute's
engaging with industry peers in discussions on development trends, technological innovation, and application Domestic Chip Technical Exchange Exhibition," discussing domestic chip application scenarios, technological
scenarios in the consumer electronics sector. During the exhibition, the company, together with partners, advancements, and industrial collaboration with Geely representatives. During the event, the company exhibited
showcased multi-scenario products and solutions covering AI PCs, smartphones, smart bands, smartwatches, multiple automotive-grade products, presenting its product lineup, technical capabilities, and relevant solutions
automobiles, cleaning appliances, and white goods, highlighting its product deployment and expansion in automotive electronics, highlighting ongoing progress and achievements in the automotive-grade chip
capabilities in consumer electronics and related sectors. Through this participation, JOULWATT further domain. Through this exhibition and exchange, JOULWATT further demonstrated its technological prowess
demonstrated its technological expertise and solution strengths in relevant domains and intensified interactions in automotive chips and strengthened interaction with industry partners on application implementation and
with industry partners regarding product applications and market demands. scenario deployment.
Case｜ JOULWATT and GAC Jointly Release China's First ASIL-D Dedicated Driver Chip for
Electronic Parking Brake Systems
In April 2025, JOULWATT was invited to attend GAC Tech Day, exchanging insights with industry counterparts on
intelligent vehicle chip technology and industrial collaboration. At the event, JOULWATT and GAC Group jointly
unveiled China's first ASIL-D-compliant dedicated driver chip GH-01 for electronic parking brake (EPB) systems,
and signed a strategic cooperation agreement under the "Automotive Chip Application Ecosystem Co-Building
Initiative," reflecting the company's R&D capabilities and collaborative achievements in automotive chips. This
cooperation further showcased JOULWATT's accumulated expertise and expanding applications in automotive-
grade chips, while supporting synergistic innovation across the "chip–system–vehicle" value chain.
Climate Action and Green Operations
JOULWATT integrates green and low-carbon development principles into every aspect of operation and business
growth, actively responds to energy conservation, environmental protection, and sustainable development
requirements, and continuously explores practical pathways such as green low-carbon industries, circular economy,
and resource conservation, striving to reduce the environmental impact of its operations and advancing the company
steadily toward green, high-quality development.
Response to Climate Risk Climate Opportunities
In 2025, the company further strengthened systematic management of climate change issues and, referencing
recommendations from the Task Force on Climate-related Financial Disclosures (TCFD), identified and assessed Opportunity Type Opportunity Description Opportunity Response
climate-related risks and opportunities from governance, strategy, risk management, and metrics/targets
Governments introduce policies By proactively complying with policy requirements,
perspectives, progressively establishing a climate change management framework and refining related initiatives. Policy Support supporting renewable energy and low- the company can access incentives and subsidies,
At the board level, the company established a Strategy and ESG Committee to supervise and guide climate-related carbon technologies enhancing market competitiveness
matters and incorporated climate risk assessment into long-term development planning. At the execution level, Consumers and enterprises show The company develops and promotes low-carbon
the Board Office collaborates with the Internal Audit Department and the Finance Department to participate in Market Demand Growth increasing demand for green products green products to meet market demand, attract
and services new customers, and improve brand image
climate risk identification, impact assessment, and response strategy formulation, promoting integration of climate
considerations into operational management. Investing in emerging low-carbon technologies
New technologies reduce carbon can strengthen innovation capabilities, keep the
Technological Innovation
emissions and improve energy efficiency company at the tech frontier, and improve market
Climate Risk position
Through active climate action and transparent
Sustainable development projects communication, the company can enhance brand
Investment Opportunities
attract more investment reputation, increasing trust from investors and
Risk Type Risk Description Risk Response
consumers
As global and local policies The company actively participates in
The company increases the resilience of facilities
impose increasingly stringent policy discussions, adjusts business Improve climate resilience of facilities
and the flexibility of the supply chain, improving
Policy Risk carbon emission limits, the strategies to adapt to new regulations, Risk Management and operations, reducing the impact of
operational stability and reducing losses from
company may face rising and engages in green finance and extreme weather
extreme weather
compliance costs bank-enterprise cooperation
With growing market demand for The company is committed to
low-carbon products, the market developing low-power, high-reliability
Market Risk share of traditional high-energy- products for various industries and Climate-Related Targets and Progress
consumption products may scenarios to meet market demand and
decline remain competitive
Transition Risk
The company continuously monitors During the reporting period, JOULWATT, based on its business model, identified, calculated, and analyzed energy
Rapid development of emerging
technological innovation, strengthens consumption and greenhouse gas (GHG) emissions within its operational boundary. The company's main business
low-carbon technologies may
Technology Risk collaboration with technology activities are focused on chip design, R&D, and integrated circuit testing, and do not involve high-energy-consuming
render existing technologies
leaders, and ensures it remains at the
obsolete and increase R&D costs manufacturing processes such as wafer fabrication. As a result, the overall energy use structure is relatively
technological frontier
concentrated, and emission sources are clear, primarily from purchased electricity for office and operational
The company enhances transparency, premises, as well as a small amount of fuel consumption from operational vehicles.
Failure to effectively address
regularly discloses progress on
climate change may damage
Reputation Risk climate action, and demonstrates its
JOULWATT's reputation, affecting
sustainability commitments through
investor and customer confidence
multi-channel communication Emission source 2023 2024 2025
The company strengthens disaster Gasoline (L) 41,495.10 73,169.99 117,075.42
Increased frequency and intensity
resistance of facilities, conducts
of extreme weather events may
Acute Risk emergency drills, and develops Diesel (L) 934.37 374.94 160.93
disrupt production facilities and
response plans to reduce potential
supply chains
losses
Physical Risk Electricity (kWh） 2,058,354.09 10,429,042.59 18,325,481.51
Chronic risks such as sea level The company improves the climate
rise and frequent extreme climate risk management system, enhances of which: Purchased Electricity 2,058,354.09 10,429,042.59 18,061,529.51
Chronic Risk
threaten the stable operation of infrastructure resilience, and promotes
coastal energy infrastructure multi-party collaborative governance of which: PV Power Generation 0.00 0.00 263,952.00
JOULWATT's GHG emissions mainly consist of Scope 1 and Scope 2 emissions. Scope 1 emissions primarily stem from
small-scale emissions related to daily operations, R&D activities, and equipment. Scope 2 emissions mainly include
Green and Low-Carbon Practices
indirect emissions associated with purchased electricity for daily operations.
In terms of strategic advancement, the company, based on climate risk assessments and scenario analyses, identifies
Emission source 2023 2024 2025
physical and transition risks related to its operations, and studies corresponding response measures in line with its
Gasoline (tCO2e) 90.41 159.43 255.09 development plans, continuously enhancing adaptability and operational resilience under changing policy, market,
Diesel (tCO2e) 2.54 1.02 0.44
and technological conditions. During the reporting period, the company promoted a number of climate change risk
management initiatives, including the adoption of green technologies, improvement of product energy efficiency,
Scope 1 (tCO2e) 92.95 160.45 255.53
reduction of transportation and packaging carbon emissions, and advocacy of green office practices, thereby
Electricity (tCO2e) 1,092.16 5,533.65 9,576.41 strengthening its sustainable development capacity.
of which: Purchased Electricity (tCO2e) 1,092.16 5,533.65 9,576.41
At the product and operational level, the company is committed to developing low-power, high-reliability analog
of which: PV Power Generation (tCO2e) 0.00 0.00 0.00 chip products widely used in base station communication equipment, energy storage devices, and new energy
Scope 2 (tCO2e) 1,092.16 5,533.65 9,576.41 applications, aiming to improve power usage efficiency, reduce energy consumption, and continuously expand
product applications that have a positive environmental impact. Furthermore, the company's main business is the
Operational Carbon Emissions (tCO2e) 1,185.11 5,694.10 9,831.94
R&D and sales of analog integrated circuits, and it does not directly engage in the physical manufacturing of chips.
Carbon Reduction Benefits from PV Power
Daily operations do not involve industrial wastewater or exhaust gas emissions. The main waste and pollutants
(tCO2e)
generated in the company's operations include scrapped chips, domestic sewage, and household waste. Scrapped
Installed PV Capacity (kWp) 0.00 0.00 481.12 chips are handled by professional organizations; domestic sewage is discharged into the municipal sewage network
through drainage facilities, and household waste is collected uniformly by sanitation authorities. To ensure effective
Notes: operation of the environmental management system, the company has established systems such as the Environmental
former are calculated as per the Guidelines for Accounting Methods and Reporting of Greenhouse Gas Emissions for Enterprises in Other Management Procedure, and the Chemical Management Procedure.
Industrial Sectors.
factors published in the 2023 Electricity Carbon Emission Factors issued by the Ministry of Ecology and Environment of the People's In office management, the company continuously optimizes resource use and internal control measures, reduces
Republic of China and the National Bureau of Statistics. resource consumption at the source, promotes the use of energy-saving equipment, and encourages reuse of
acquisitions during the period, which expanded the accounting boundary. Newly acquired entities, together with their office, R&D, and
office practices. The company also strengthens internal communication and employee guidance, continuously
operating premises, were incorporated into the carbon emissions accounting scope, resulting in an overall increase in emissions. Total
carbon emissions continued to rise from 2024 to 2025, also mainly due to business acquisitions carried out during the period, while the raising awareness of energy conservation, consumption reduction, and environmental protection, and advocates a
impact of acquisitions completed in prior years was further reflected in the current year. Overall, the slight increase in Scope 1 emissions moderate, green, and low-carbon lifestyle and work style.
from 2023 to 2025 was mainly attributable to stronger post-acquisition business synergies, increased talent mobility, and greater vehicle
usage, which led to higher gasoline consumption. The increase in total Scope 2 emissions was primarily due to the fact that the Company's
carbon emissions profile remains dominated by Scope 2 emissions associated with purchased electricity, and that business acquisitions
expanded both electricity consumption and the accounting boundary, rather than as a result of any abnormal growth in the operating
activities of the Company's original entities.
From the perspective of emission structure, the company's current carbon emissions exhibit the characteristics
of "clear boundaries, concentrated sources, and manageable control," providing a solid foundation for future
implementation of refined management, improved energy efficiency, and enhanced reduction measures.
Comparative analysis with similar enterprises shows that, based on revenue and employee count metrics, the
company's operational carbon intensity is currently at a relatively low level, reflecting the low operational carbon
characteristics of the present business model.
Going forward, JOULWATT will improve its carbon emission data management mechanism, further strengthen the
identification, accounting, analysis, and tracking of energy use and greenhouse gas emissions, and gradually enhance
low-carbon operation management, laying the groundwork for future energy conservation, consumption reduction,
and climate-related management efforts.
Case｜ M ulti-dimensional Initiatives to Enhance ESG Awareness and Drive Green Office
Implementation
During the reporting period, JOULWATT continued to strengthen the promotion of ESG concepts and employee
engagement around its green, low-carbon, and sustainable development goals, guiding environmental
awareness to shift from "regulatory requirement" to "daily habit." The company organized training sessions on
carbon emissions, helping employees deepen their understanding of carbon management, reduction targets,
and low-carbon practices. It also advanced the application of a carbon management system, continuously
improving the digitization of carbon data management and internal management.
In 2025, the company's new office building was put into use, equipped with photovoltaic (PV) power generation
facilities. During the design, relocation, and commissioning of the new building, environmental protection and
Carbon management system empowering low- Promoting waste sorting in office settings
energy efficiency were fully considered, and green office concepts were integrated into spatial planning and
carbon management
daily management. Various energy-saving reminders have been placed in office areas, such as air conditioning
temperature control, turning off lights when leaving, paper saving, and water conservation, to continuously
guide employees in practicing low-carbon office behaviors in detail.
Besides, the company organized a company-wide environmental protection and ESG knowledge quiz, using
lightweight, interactive methods to enhance employees' attention to and participation in environmental
protection, energy conservation, and sustainable development topics. By combining training and
communication, environmental design, digital tool application, and company-wide interaction, JOULWATT
continues to embed ESG awareness into office operations and employee behavior, creating a solid internal
atmosphere for green, low-carbon development.
Advocating green office with energy-saving Shuttle buses supporting low-carbon commuting
temperature control
新办公楼屋顶光伏投运
Employee Rights and Interests Protection 61
Employee Growth 67
Talent Development: Employee Communication and Feedback 70
Employee Safeguard and Organizational Growth
Employee Rights and Interests Protection
JOULWATT Employee Composition in 2025
Compliant Employment and Workforce Structure By Gender By Age
JOULWATT has always regarded employees as a vital foundation for its sustainable development, recognizing
that talent is the key force driving technological innovation, organizational growth, and business upgrading.
In a talent-intensive industry, the development of integrated circuit design enterprises highly depends on the
continuous build-up of a high-caliber workforce. To this end, the company emphasizes both internal cultivation and 619
external recruitment, building a high-quality, professional, and dynamic talent team to support long-term, stable 564 409 433
development. 285 240
The company stringently complies with the Labor Law of the People's Republic of China , the Labor Contract Law
of the People's Republic of China , the Regulations on Prohibition of Child Labor , and other laws and regulations,
continuously improving a legal, compliant, and transparent human resource management system. The company ≤ 30 31–40
Male Female
clearly prohibits forced labor, discriminatory employment, and child labor, effectively safeguarding employees' 41–50 ≥ 51
legitimate rights and interests. The company upholds the principles of openness, fairness, and impartiality in
recruitment, hiring, job transfer, promotion, and retirement, firmly eliminating discriminatory clauses based on
gender, age, or region. Structured interviews and competency assessments are used to enhance objectivity and
By Professional Role By Education Level
person-job fit in selection.
JOULWATT adheres to a "people-oriented" talent development philosophy, striving to create a work environment that 776
encourages innovation, respects contributions, ensures fairness, and fosters care and collaboration. The company
respects individual differences, supports employee growth, and promotes diversity and inclusion. The company 498
improves its compensation incentive and welfare system, benchmarking against industry levels to implement 327 339
position value assessment and performance linkage mechanisms, and provides diversified benefits such as holiday 249 237 198
gifts, welfare leave, marriage and childbirth bonuses, and children's benefits. Regular employee needs surveys are 80 121 29
- 25 16
conducted to enhance satisfaction, sense of belonging, and organizational cohesion.
Encouraging Innovation Enabling employees to fully utilize their talents; Management talent Market talent Doctoral Degree Master's Degree
R&D Production talent Bachelor's Degree Associate Degree or Below
Respecting Contribution Ensuring employees' value is fully realized;
Fairness and Justice Guaranteeing that employees' work receives fair recognition and reward;
Compensation and Incentives
Care and Collaboration Building a corporate culture full of understanding, care, and teamwork.
JOULWATT has always attached great importance to safeguarding employees' legitimate rights and interests,
During the reporting period, the company continued to optimize its talent structure and organizational configuration, continuously improving its compensation, benefits, and incentive mechanisms to create a fair, just, and sustainable
maintaining a reasonable distribution of employees in terms of gender, age, and educational background. As of career development environment for employees. Aligned with business development needs, the company has
the end of 2025, the total number of employees was 1,971, of which female employees accounted for 32.12%; established a relatively comprehensive and market-competitive compensation system that balances external
employees aged 40 or below made up 85.59%; those with a bachelor's degree or above represented 83.41%, and competitiveness with internal equity. The compensation level is dynamically optimized based on operating
R&D talent comprised 60.98%. This young, highly educated, and professional workforce provides strong support for performance, industry trends, and regional economic conditions. In addition, the company implements a
the company's continuous innovation and high-quality development. Looking ahead, JOULWATT will continue to performance-linked compensation mechanism, linking employees' income to company performance, departmental
improve its talent management system and employee development mechanisms, promoting the common growth of results, and individual contributions. Performance is managed through monthly and quarterly reviews, as well as
employees and the company. semi-annual and annual appraisals, to stimulate employee motivation and creativity.
Beyond material incentives, the company emphasizes spiritual encouragement and value recognition. The JOULWATT charitable activities, unlocking public welfare donations based on running distance to support targeted aid projects
Employee Handbook provides for various awards, including Team Award, General Manager's Special Award, in Dare Village (Gaize County, Ngari, Tibet) and Xinju Community (Gaize County), further expanding the philanthropic
Outstanding Contribution Award, and Long Service Award, to recognize exceptional teams and individuals, thereby value of its cultural activities. Moreover, the company purchased agricultural assistance products (apples) as
enhancing employees' sense of belonging and professional fulfillment. Furthermore, the company actively promotes employee benefits, integrating employee care with rural revitalization efforts, and continuously conveying corporate
long-term incentive mechanisms such as equity incentives and employee stock ownership, enabling employees to warmth. By fostering a positive, harmonious, and inclusive organizational atmosphere, the company continuously
share in the company's development achievements and achieve common growth and prosperity. By continuously enhances team cohesion and employee commitment, supporting the common growth of employees and the
refining compensation, incentives, and employee development mechanisms, JOULWATT steadily enhances its talent enterprise.
attractiveness and organizational cohesion, providing strong support for high-quality development.
Welfare and Benefits
JOULWATT has been regarding talent as its most important resource and the core pillar of sustainable development,
continuously improving the employee welfare system to create a stable, secure, and caring work environment. The
company stringently complies with national regulations, paying all social insurances and housing provident fund
contributions in full and on time for employees. JOULWATT also optimizes welfare arrangements in line with its own
development, effectively improving employees' sense of belonging, gain, and quality of life, and consolidating the
talent foundation for long-term, stable growth.
During the reporting period, the company further improved its attendance and leave management mechanism,
issuing the Attendance, Leave, and Vacation Management Regulation , which systematically regulates attendance
management, leave approval, vacation arrangements, medical treatment periods for sick leave, and applicable rules
for various types of leave, thereby enhancing the transparency, standardization, and enforceability of employee
management systems. Under this regulation, the company implements both standard working hours and flexible
working hours systems, clearly defining management arrangements for statutory holidays, paid annual leave,
personal leave, sick leave, marriage leave, maternity and breastfeeding leave, and bereavement leave. Leave approval
and extension management are conducted through the EHR system, continuously improving the convenience and
standardization of leave management. Additionally, the company stringently fulfills payment obligations for basic
pension insurance, medical insurance, work injury insurance, unemployment insurance, maternity insurance, and
housing provident fund, and handles withholding and remittance of employees' personal contribution portions
based on regulations.
Metrics Units 2025
Labor Contract Signing Rate % 100
Occupational health and safety education coverage rate % 100
Employee training coverage rate % 100
Physical examination and health record coverage rate % 100
In terms of living benefits and humanistic care, the company has continued to improve its employee welfare
system. In addition to legally safeguarding employees' leave and social security rights, the company has enhanced
living security and organizational belonging through holiday gifts, marriage gifts, childbirth benefits, and care for
employees' children. Moreover, JOULWATT has actively promoted corporate culture building, organizing diverse
cultural and sports activities to encourage broad employee participation, enrich leisure time, and strengthen team
communication. During the reporting period, the company organized large-scale events such as the JOULWATT
Employee Hiking. Notably, in the 2025 hiking event, the company combined employee sports participation with
Occupational Health and Safety Care for Female Employees
JOULWATT values the protection of women employees' rights, stringently complies with the Labor Law of the
JOULWATT places high importance on employees' occupational health and safety, stringently adhering to the People's Republic of China , the Law of the People's Republic of China on the Protection of Rights and Interests of
Law of the People's Republic of China on the Prevention and Treatment of Occupational Diseases and ISO 45001 Women , and other relevant laws, and has formulated the Regulations on Labor Protection of Female Employees in
Occupational Health and Safety Management Systems—Requirements with Guidance for Use , among other relevant line with the company's actual circumstances, continuously fostering a fair, just, and friendly work environment.
laws, regulations, and standards. The company has established an occupational health and safety management The company ensures female employees' legal rights in terms of compensation, benefits, career development, and
system and formulated procedural documents such as the Occupational Health and Safety Management Procedure protection during pregnancy, maternity, and lactation, upholding the principle of equal pay for equal work and
and the Occupational Health and Safety Management Manual , continuously promoting standardized and systematic guaranteeing equal opportunities in recruitment, appointment, remuneration, and promotion.
management to effectively safeguard employees' health and safety during work.
Furthermore, the company stringently implements
In occupational health management, the company has strengthened its full-cycle health management mechanism, leave and protection requirements for pregnancy,
implementing pre-employment health screening and regular occupational health examinations, and establishing maternity leave, and lactation periods, providing
dynamic health records to facilitate continuous tracking and management of health information. For positions with thoughtful care and support during these special
occupational hazard factors, the company carries out occupational health examinations, monitors occupational times. During the reporting period, the company's
hazard factors, and evaluates control effectiveness in accordance with the law. The company also enhances newly relocated headquarters building was
employees' occupational health protection awareness and self-protection capabilities through occupational health designed with a dedicated nursing room, further
training, daily communication, and special inspections, shifting occupational health risk prevention to earlier stages. improving facilities for female employees and
offering more convenient and supportive office
In terms of labor protection and safety management, the company implements labor protective equipment arrangements for those in pregnancy or lactation.
management under the principles of "unified planning, unified standards, unified procurement, and unified The company also enhances female employees'
distribution," ensuring reliable quality and timely allocation of protective gear to effectively safeguard employee sense of belonging and happiness through holiday
occupational safety. Besides, the company stringently enforces the "three simultaneities" requirement for greetings, event care, and other forms of attention.
occupational disease prevention facilities in construction projects, ensuring that newly built, renovated, expanded, In the future, the company will continue to improve
or technologically upgraded projects incorporate occupational health protection measures synchronously during the mechanisms for protecting female employees'
design, construction, and commissioning stages, and performing corresponding testing, evaluation, and acceptance rights and supporting their career development,
inspection before putting them into use, thus forming a comprehensive occupational health and safety assurance helping them better grow in a safe, equal, and
mechanism covering the entire process from design to operation. respectful workplace.
The company recorded no major work-related accidents or significant injuries during the recording period. Looking
ahead, JOULWATT will continue to improve its occupational health and safety management system, strengthen
risk identification, process control, and training, and enhance employee health management and safety assurance
capabilities, striving to create a safe, healthy, and sustainable working environment for all employees.
Employee Growth
Training needs are systematically collected from three dimensions—organization, position, and individual—
and, based on the characteristics of different employee levels, training content is divided into three categories:
management, professional, and general. This forms a multi-level development system covering new employee
Career Development onboarding, job skill enhancement, management capability development, and cultural integration. For campus
and experienced new hires, the company has established the "Sail Program" and "Engine Program," respectively,
with courses designed around corporate culture, regulations & codes, business fundamentals, and job-specific skills
JOULWATT adheres to a people-oriented development philosophy, continuously improving its talent development
to help employees quickly transition into their roles and integrate into the organization. For management talent,
system. Aligned with the its strategy, business growth, and organizational capability building, the company optimizes
the company implements development programs such as the "Helm Program" to enhance team leadership and
mechanisms for talent selection, cultivation, appointment, and development. Combining different position
overall management skills. For professional talent, the company strengthens position-specific capabilities through
sequences and career stages, the company advances the dual-track development of professional and management
departmental specialized training, internal course development, and experience sharing.
paths, refining employee growth routes to support diversified development in both specialized expertise and
managerial capabilities. During the reporting period, the company continued to build its management cadre
mechanism, completing the formulation and release of the Cadre Management Regulation , which clarifies standards, Key Performance Indicators
selection, appointment, and evaluation requirements for managers. Concurrently, the company progressed in
developing qualification standards, finalizing qualification frameworks for operations, technology development, and JOULWATT 2025 Employee Training Performance:
functional support, progressively establishing a clearer talent evaluation and development system. The company
also launched and stabilized the EHR Talent Inventory System, progressively creating a dynamic talent database and
Total training sessions in 2025:
pools of high-potential and reserve talents, providing a foundation for future talent development and succession Total training hours in 2025: 10,635.17 hours
planning. By continuously improving career development mechanisms, the company enhances person-position fit
and talent development quality, solidifying the human resource foundation for long-term organizational growth. Employees covered: 1,487 employees, with an average of 7.8 hours of training per person in 2025
Corporate course library: 379 courses completed, covering both company-wide and department-specific
Management Technology Sales Professional Operations
content in 2025
Strategic Decision-Making Level Professional Domain Authority
Company-level training completion rate in 2025: 100%
Track
Department-level training completion rate in 2025: 100%
Certified internal trainers in 2025: 33, with an average teaching satisfaction score of 4.89/5
Entry Level / Proficient Level
Dual Career
Strategic Execution Level
/ Core Level / Expert Level /
Development Authority Level
Path
Department Operations Level
At the level of training mechanism, the company continued to advance the construction of a digital learning platform,
Management
Track
Contributor
completing the deployment of the EHR Online Learning Management System. This platform integrates learning
Business Execution Level
planning, course management, training organization, process tracking, and outcome documentation, further
improving the efficiency of training resource allocation and the standardization of learning management. Leveraging
Employee Level internal learning platforms such as the "JOULWATT Growth Academy," the company provides computer and
mobile access to learning resources, and, through learning maps, course libraries, and training program operations,
continuously enhances the availability and convenience of learning resources.
Training and Competency Development
Moreover, the company coordinates the development of the training system with its talent development framework.
During the reporting period, the company advanced the Cadre Management System, qualification standard sorting,
JOULWATT consistently upholds the talent development concept of "advancing both professional and general
and talent inventory system implementation, progressively forming a clearer path for talent identification, evaluation,
capabilities in parallel," viewing employee growth and organizational capability building as essential foundations
and development. Qualification standard development provides employees with well-defined career paths and
for sustainable development. The company provides diverse training resources and development support to
evaluation criteria, while talent inventory helps the company understand talent distribution and capability status,
promote employees' professional growth and long-term career progression. Aligned with strategic planning,
supporting high-potential talent identification, reserve pool building, and subsequent development planning.
business needs, and individual career development requirements, the company continuously refines its training
Furthermore, the company continues to strengthen internal course development and trainer team building,
and talent development system, transitioning from decentralized management to systematic, platform-based, and
promoting the internalization and transfer of knowledge and experience, and enhancing the practicality, relevance,
institutionalized development.
and internal empowerment capacity of the training system.
Through continuous improvement of training management mechanisms, learning platforms, and talent development
systems, JOULWATT steadily enhances employees' overall quality, job competence, and organizational vitality,
providing a solid talent foundation for innovation-driven growth and long-term stable operations.
Employee Communication and Feedback
JOULWATT values employee experience and organizational identity, continuously fostering a communication
atmosphere of fairness, respect, and trust, and striving to build harmonious and stable labor relations. The company
recognizes that open and effective communication mechanisms are essential for improving employee satisfaction,
enhancing team cohesion, and optimizing internal management. To this end, the company has formulated the
Employee Suggestions and Feedback Management Code , continuously improving communication and feedback
channels, and promoting a positive interaction between employees' expression of concerns and management
improvements.
The company has established diversified communication channels, including suggestion boxes, email feedback,
and written proposals, encouraging employees to offer opinions and suggestions on workflows, management
mechanisms, work environment, and employee care, thereby improving the convenience and timeliness of
communication. In addition, the company encourages employees to participate in business management. Through
JOULWATT "Sail Program" for Campus Recruited New Hires
suggestion collection, feedback review, and follow-up on issues, the company ensures that management measures
are more closely aligned with actual needs, thus enhancing the relevance and effectiveness of decision-making.
Issues of concern to employees are collected, organized, and analyzed on a regular basis, and improvement measures
are studied in light of actual conditions, continuously improving the transparency, responsiveness, and credibility
of internal management. By refining the communication and feedback mechanism, JOULWATT further strengthens
employees' sense of participation, belonging, and organizational identity, laying a solid foundation for ongoing
management optimization and the shared growth of employees and the company.
Employee Communication Mechanisms
Online Learning Platform for Employees
Face-to-Face
Suggestion Box Email
Communication
Written Communication WeChat Official Website
JOULWATT "Engine Program" for
Experienced Hires JOULWATT EHR Learning Management System
Key Performance Indicators 2025
Economic Performance Social Responsibility Performance
Categories Metrics Units 2025 Categories Metrics Units 2025
Total Assets RMB 10,000 534,366.48 Total Number of Employees Persons 1,971
Owner's equity attributable to the parent company RMB 10,000 152,511.68 Doctoral Degree Persons 29
Operating Revenue RMB 10,000 265,502.48 Master's Degree Persons 776
Financial
By Education Level
Performance Bachelor's Degree Persons 839
Net profits attributable to the parent company owner RMB 10,000 -71,712.42
Research and development cost RMB 10,000 95,727.80 Associate Degree or Below Persons 327
ROEWA % -40.08 Management talent Persons 372
R&D Persons 1,202
By Function
Employment Market talent Persons 249
Corporate Governance Performance
Production talent Persons 148
Male Persons 1,338
By Gender
Categories Metrics Units 2025 Female Persons 633
≤ 30 Persons 1,068
Shareholders' Meetings Held Count 6
Board Meetings Held Count 15
By Age
Corporate Announcements and Online Documents Issued Copies 186
Governance
≥ 51 Persons 44
Responses to Investor Questions on e-Interaction Platform Questions 12
Employee Labor Contract Signing Rate % 100
Institution- Rights and
Number of Institutional Investor Research Visits in the Year 180+
visit Interests
Health Check Coverage Rate % 100
Protection
Intellectual
Property Patent Applications Filed Items 255
Rights
ESG Report Indicator Index
GRI Index
Contents GRI Standards Contents GRI Standards
GRI 2-2 Building a Responsible Supply Chain
Statement on Report Preparation GRI 2-3
GRI 2-14 Responsible Procurement Management GRI 308
Ecosystem Collaboration: Supply GRI 414
GRI 2-1
Company Profile Chain, Customers, and Low-Carbon Compliance Marketing Management GRI 301
GRI 2-9
Operations GRI 302
GRI 2-14 Customer Service and Support GRI 303
Corporate Culture & Values GRI 2-27
About JOULWATT
GRI 2-29 Climate Action and Green Operations
GRI 3-1
Employee Rights and Interests
Sustainable Development Governance GRI 3-2
Protection GRI 401
GRI 3-3
Talent Development: Employee GRI 403
Governance Structure and Employee Growth
Safeguard and Organizational Growth GRI 404
Standardized Operations
Employee Communication and GRI 405
Information Disclosure and Investor Feedback
Communication
Economic Performance
Governance Foundation: Compliance, GRI 2-1
Compliance Management
Risk Control & Digital Operations GRI 205
Key Performance Indicators 2025 Corporate Governance Performance GRI 201
Digital Operations, Information
Security, and Data Protection Social Responsibility Performance
Party Building Leadership and
Organizational Development
Continuously Advancing R&D
Innovation
Ongoing Quality Management
Improvement
Innovation Builds the Core: R&D, Technology Ethics and Responsible
GRI 203
Quality, and Intellectual Property Innovation
Improving Technological Innovation
Mechanisms
Intellectual Property Management and
Protection
Self-Regulatory Guidelines for Listed Companies on
the Shanghai Stock Exchange No. 14 - Sustainability
Reporting (Trial) Indicator Index
Corresponding Report Corresponding Report
Disclosure Requirements Corresponding Report Titles Disclosure Requirements Corresponding Report Titles
Sections Sections
Ecosystem Collaboration: Supply Chain, Innovation Builds the Core: R&D, Quality, Technology Ethics and Responsible
Tackling Climate Change Climate Action and Green Operations Ethics in Technology
Customers, and Low-Carbon Operations and Intellectual Property Innovation
Ecosystem Collaboration: Supply Chain, Building a Responsible Supply Chain
Pollutant Emissions Climate Action and Green Operations Ecosystem Collaboration: Supply Chain,
Customers, and Low-Carbon Operations Supply Chain Security Responsible Procurement Management
Customers, and Low-Carbon Operations
Ecosystem Collaboration: Supply Chain, Building a Responsible Supply Chain
Waste Treatment Climate Action and Green Operations Ecosystem Collaboration: Supply Chain,
Customers, and Low-Carbon Operations Equal Treatment of SMEs Responsible Procurement Management
Customers, and Low-Carbon Operations
Ecosystem and Biodiversity Ecosystem Collaboration: Supply Chain,
Climate Action and Green Operations Innovation Builds the Core: R&D, Quality, Ongoing Quality Management
Conservation Customers, and Low-Carbon Operations
and Intellectual Property Improvement
Product and Service Safety & Quality
Ecosystem Collaboration: Supply Chain, Ecosystem Collaboration: Supply Chain, Compliance Marketing Management
Environmental Compliance Management Climate Action and Green Operations
Customers, and Low-Carbon Operations Customers, and Low-Carbon Operations Customer Service and Support
Ecosystem Collaboration: Supply Chain, Data Security and Customer Privacy Governance Foundation: Compliance, Digital Operations, Information Security,
Energy Utilization Climate Action and Green Operations Protection Risk Control & Digital Operations and Data Protection
Customers, and Low-Carbon Operations
Employee Rights and Interests
Ecosystem Collaboration: Supply Chain,
Water Resource Utilization Climate Action and Green Operations Protection
Customers, and Low-Carbon Operations Talent Development: Employee
Employees Employee Growth
Safeguard and Organizational Growth
Ecosystem Collaboration: Supply Chain, Employee Communication and
Circular Economy Climate Action and Green Operations Feedback
Customers, and Low-Carbon Operations
Governance Foundation: Compliance,
Governance Foundation: Compliance, Party Building Leadership and Risk Control & Digital Operations Compliance Management
Rural Revitalization
Risk Control & Digital Operations Organizational Development Due Diligence Ecosystem Collaboration: Supply Chain, Building a Responsible Supply Chain
Governance Foundation: Compliance, Customers, and Low-Carbon Operations Responsible Procurement Management
Party Building Leadership and
Risk Control & Digital Operations
Organizational Development
Social Contribution Talent Development: Employee About JOULWATT Sustainable Development Governance
Employee Communication and
Safeguard and Organizational Growth Stakeholder Communication Governance Foundation: Compliance, Information Disclosure and Investor
Feedback
Risk Control & Digital Operations Communication
Continuously Advancing R&D Innovation Anti-Commercial Bribery and Anti- Governance Foundation: Compliance,
Improving Technological Innovation Compliance Management
Innovation Builds the Core: R&D, Quality, Corruption Risk Control & Digital Operations
Innovation-driven Mechanisms
and Intellectual Property
Intellectual Property Management and Governance Foundation: Compliance,
Anti-Unfair Competition Compliance Management
Protection Risk Control & Digital Operations
Environmental, Social and Governance Reporting KPIs Disclosure Requirements Sections
Code (Appendix C2 to the Listing Rules of The Stock KPI A1.3
Total quantity of hazardous waste produced (in tons) and (if applicable)
its density (e.g., per unit of production, per facility).
Not separately disclosed / Not
applicable
Exchange of Hong Kong Limited) KPI A1.4
Total quantity of non-hazardous waste produced (in tons) and (if Not separately disclosed / Not
applicable) its density (e.g., per unit of production, per facility). applicable
About JOULWATT - Sustainable
KPIs Disclosure Requirements Sections Development Governance
Part B: Mandatory Disclosure Requirements Ecosystem Collaboration:
Description of the emission reduction targets set and the steps taken to
A statement issued by the Board of Directors, containing the following: KPI A1.5 Supply Chain, Customers
achieve these targets.
(i) Disclosure of the Board's oversight of environmental, social, and & Low-Carbon Operations
governance (ESG) matters; – Climate Action & Green
Governance (ii) The Board's ESG management policies and strategies, including the About JOULWATT - Sustainable Operations
Structure process for assessing, prioritizing, and managing material ESG-related Development Governance Ecosystem Collaboration:
matters (including risks to the issuer's business); and Describe the methods for handling hazardous and non-hazardous waste, Supply Chain, Customers
(iii) How the Board reviews progress against ESG-related objectives and KPI A1.6 and outline the waste reduction targets established, along with the steps & Low-Carbon Operations
explains how they relate to the issuer's business. taken to achieve these targets. – Climate Action & Green
Description or explanation of how the following reporting principles Operations
were applied in the preparation of the ESG report: Level A2: Resource Use
Materiality: The ESG report shall disclose: (i) the process for identifying Ecosystem Collaboration:
material environmental, social, and governance (ESG) factors and Supply Chain, Customers
the criteria for selecting these factors; (ii) if the issuer has conducted & Low-Carbon Operations
General Policy on the efficient use of resources, including energy, water, and
stakeholder engagement, a description of the identified key stakeholders – Climate Action & Green
Disclosure other raw materials.
Reporting and the process and outcomes of the issuer's stakeholder engagement. Statement on Report Operations
Principles Quantitative: The data on standards, methodologies, assumptions, and/ Preparation Key Performance 2025 – Social
or calculation tools used in reporting emissions/energy consumption Responsibility Performance
(where applicable), as well as the sources of conversion factors, shall be Ecosystem Collaboration:
Energy Consumption by Type (Direct and/or Indirect, e.g., electricity, gas,
disclosed. Supply Chain, Customers
or oil); total energy consumption (in thousand kWh) and density (e.g.,
Consistency: The issuer shall disclose in the ESG report any changes in KPI A2.1 & Low-Carbon Operations
per unit of output, per facility) to drive environmental protection and
statistical methods or key performance indicators (KPIs) (if any) or any – Climate Action & Green
resource use.
other factors affecting meaningful comparisons. Operations
Explain the scope of the ESG report, and describe the process for Ecosystem Collaboration:
selecting which entities or operations are included in the ESG report. If Statement on Report Supply Chain, Customers
Reporting Scope
the reporting scope has changed, the issuer shall explain the differences Preparation & Low-Carbon Operations
Total water consumption and density (for example, measured per unit of
and reasons for the change. KPI A2.2 – Climate Action & Green
production or per facility).
A. Environment Operations
Level A1: Emissions Key Performance 2025 – Social
(a) air emissions, greenhouse gas emissions, discharges to water bodies Ecosystem Collaboration: Responsibility Performance
and land, and the generation of hazardous Supply Chain, Customers About JOULWATT - Sustainable
General
and non-hazardous waste; & Low-Carbon Operations Development Governance
Disclosure
(b) compliance with relevant laws and regulations – Climate Action & Green Ecosystem Collaboration:
Describe the energy efficiency targets established, and the steps taken to
that have a significant impact on the issuer. Operations KPI A2.3 Supply Chain, Customers
achieve these targets.
Ecosystem Collaboration: & Low-Carbon Operations
Supply Chain, Customers – Climate Action & Green
& Low-Carbon Operations Operations
KPI A1.1 Types of emissions and related emission data. – Climate Action & Green
Operations
Key Performance 2025 – Social
Responsibility Performance
KPIs Disclosure Requirements Sections KPIs Disclosure Requirements Sections
Ecosystem Collaboration: Level B2: Health and Safety
Describe any issues encountered in sourcing suitable water, and outline Supply Chain, Customers Talent Development:
Safe work environment and protection from occupational hazards:
KPI A2.4 the water efficiency targets set, together with the steps taken to achieve & Low-Carbon Operations Employee Safeguard and
General (a) Policies; and
these targets. – Climate Action & Green Organizational Growth -
Disclosure (b) Compliance with relevant laws and regulations
Operations Employee Rights and Interests
that have a significant impact on the issuer.
Total Packaging Material Used for Finished Products (in tons) and, Where Protection
KPI A2.5 Applicable, per Unit of Production NA Talent Development:
NA Employee Safeguard and
Level A3: Environment and Natural Resources Organizational Growth -
Fatalities and fatality rate in the past three years (including reporting
Ecosystem Collaboration: KPI B2.1 Employee Rights and Interests
year).
Supply Chain, Customers Protection
General Policy to reduce the issuer's significant impact on the environment and
& Low-Carbon Operations Key Performance 2025 – Social
Disclosure natural resources.
– Climate Action & Green Responsibility Performance
Operations Talent Development:
Ecosystem Collaboration: Employee Safeguard and
Supply Chain, Customers Organizational Growth -
Describe the major environmental and natural resource impacts of
KPI A3.1 & Low-Carbon Operations KPI B2.2 Lost working days due to work injuries. Employee Rights and Interests
business activities, and the actions taken to manage these impacts.
– Climate Action & Green Protection
Operations Key Performance 2025 – Social
Responsibility Performance
B. Social
Talent Development:
Employee Safeguard and
Employment and Labor Practices Description of adopted occupational health and safety measures,
KPI B2.3 Organizational Growth -
implementing and related monitoring methods.
Employee Rights and Interests
Level B1: Employment
Protection
Remuneration, termination, recruitment, promotion, working hours, Level B3: Development and Training
Talent Development:
leave, equal opportunity, diversity, anti-discrimination, and other Talent Development:
Employee Safeguard and
General benefits: General Policy to improve employees' job knowledge and skills; description of Employee Safeguard and
Organizational Growth -
Disclosure (a) Policies; and Disclosure training activities. Organizational Growth -
Employee Rights and Interests
(b) Compliance with relevant laws and regulations that have a significant Employee Growth
Protection
impact on the issuer. Talent Development:
Talent Development: Employee Safeguard and
Employee Safeguard and Percentage of trained employees by gender and employee category Organizational Growth -
KPI B3.1
Organizational Growth - (senior/middle management, etc.). Employee Growth
Total Number of Employees by Gender, Employment Type (Full-time/
KPI B1.1 Employee Rights and Interests Key Performance 2025 – Social
Part-time), Age Group, and Region.
Protection Responsibility Performance
Key Performance 2025 – Social Talent Development:
Responsibility Performance Employee Safeguard and
Talent Development: Organizational Growth -
KPI B3.2 Average training hours per employee by gender and category.
Employee Safeguard and Employee Growth
Organizational Growth - Key Performance 2025 – Social
KPI B1.2 Employee turnover rate by gender, age group, and region Employee Rights and Interests Responsibility Performance
Protection Level B4: Labor Standards
Key Performance 2025 – Social
Responsibility Performance
KPIs Disclosure Requirements Sections KPIs Disclosure Requirements Sections
Talent Development: Ecosystem Collaboration:
Prevention of child labor and forced labor:
Employee Safeguard and Description of practices to encourage use of environmentally friendly Supply Chain, Customers &
General (a) Policies; and
Organizational Growth - KPI B5.4 products/services in supplier selection, and related implementing and Low-Carbon Operations –
Disclosure (b) Information on compliance with relevant laws and regulations that
Employee Rights and Interests monitoring methods. Responsible Procurement
have a significant impact on the issuer.
Protection Management
Talent Development: Level B6: Product Responsibility
Employee Safeguard and Innovation Builds the Core:
Description of the measures to review recruitment practices to avoid
KPI B4.1 Organizational Growth - R&D, Quality, and Intellectual
child labor and forced labor.
Employee Rights and Interests Property - Ongoing Quality
Protection Management Improvement
Talent Development: Ecosystem Collaboration:
Employee Safeguard and Product/service health & safety, advertising, labeling, privacy, and Supply Chain, Customers,
KPI B4.2 Description of the steps taken to address violations if discovered. Organizational Growth - remediation: and Low-Carbon Operations
General
Employee Rights and Interests (a) Policies; and - Compliance Marketing
Disclosure
Protection (b) Information on compliance with relevant laws and regulations that Management; Customer
Operational Practices have a significant impact on the issuer. Service and Support
Level B5: Supply Chain Management Governance Foundation:
Ecosystem Collaboration: Compliance, Risk Control &
Supply Chain, Customers & Digital Operations - Digital
Low-Carbon Operations – Operations, Information
General
Policy to manage environmental and social risks in the supply chain. Building a Responsible Supply Security, and Data Protection
Disclosure
Chain Percentage of total sold or shipped products that were recalled for safety
KPI B6.1 NA
Responsible Procurement and health reasons.
Management Ecosystem Collaboration:
Ecosystem Collaboration: Number of complaints received regarding products and services, and the Supply Chain, Customers,
KPI B6.2
Supply Chain, Customers & corresponding response measures. and Low-Carbon Operations -
Low-Carbon Operations – Customer Service and Support
KPI B5.1 Breakdown of suppliers by region. Building a Responsible Supply Innovation Builds the Core:
Chain Description of the Company's practices for safeguarding and protecting R&D, Quality, and Intellectual
KPI B6.3
Key Performance 2025 – Social intellectual property. Property - Intellectual Property
Responsibility Performance Management and Protection
Ecosystem Collaboration: Innovation Builds the Core:
Supply Chain, Customers & Description of the quality inspection process and the product recall R&D, Quality, and Intellectual
KPI B6.4
Low-Carbon Operations – procedure. Property - Ongoing Quality
Description of supplier engagement practices, number of suppliers
KPI B5.2 Building a Responsible Supply Management Improvement
implementing them, and related implementing and monitoring methods.
Chain Governance Foundation:
Responsible Procurement Compliance, Risk Control &
Description of customer data protection and privacy policy, and related
Management KPI B6.5 Digital Operations - Digital
implementing and monitoring methods.
Ecosystem Collaboration: Operations, Information
Supply Chain, Customers Security, and Data Protection
Description of practices to identify environmental/social risks in each & Low-Carbon Operations Level B7: Anti-Corruption
KPI B5.3
supply chain link, and related implementing and monitoring methods. – Building a Responsible The prevention of bribery, extortion, fraud, and money laundering: Governance Foundation:
Supply Chain; Responsible General (a) Policies; and Compliance, Risk Control
Procurement Management Disclosure (b) Information on compliance with relevant laws and regulations that & Digital Operations -
have a significant impact on the issuer. Compliance Management
KPIs Disclosure Requirements Sections KPIs Disclosure Requirements Sections
Governance Foundation: Part D: Climate-Related Disclosures
Compliance, Risk Control The governance body (which may include the Board of Directors, a
& Digital Operations - designated committee, or other equivalent governing entity/talent)
Number of concluded corruption-related litigation cases involving the
KPI B7.1 Compliance Management responsible for overseeing climate-related risks and opportunities. About JOULWATT - Sustainable
issuer or its employees, and the outcomes of such cases. Governance
Key Performance 2025 – The role of management in the governance processes, monitoring Development Governance
Corporate Governance measures, and procedures used to identify, assess, manage, and
Performance supervise climate-related risks and opportunities.
Governance Foundation: About JOULWATT - Sustainable
Description of preventive measures and whistleblowing procedures, and Compliance, Risk Control Development Governance
KPI B7.2 Climate-related Risks and Opportunities
related implementing and monitoring methods. & Digital Operations - Ecosystem Collaboration:
Business Model and Value Chain
Compliance Management Supply Chain, Customers
Strategy Strategy and Decision-Making
Governance Foundation: & Low-Carbon Operations
Financial Position, Financial Performance, and Cash Flow
Description of anti-corruption training provided to directors and Compliance, Risk Control – Climate Action & Green
KPI B7.3 Climate Resilience
employees. & Digital Operations - Operations; Building a
Compliance Management Responsible Supply Chain
Community The processes and policies adopted by the issuer for identifying and
Level B8: Community Investment assessing climate-related risks, as well as determining their materiality
Governance Foundation: and maintaining ongoing monitoring.
About JOULWATT - Sustainable
Compliance, Risk Control The processes adopted by the issuer for identifying and assessing
Development Governance
& Digital Operations - Party climate-related opportunities, as well as determining their materiality
Governance Foundation:
Building Leadership and Risk Management and maintaining ongoing monitoring, including whether and how the
Policy to understand the needs of the communities in which the Compliance, Risk Control
General Organizational Development issuer uses climate-related scenario analysis to identify information on
Company operates, and to ensure business activities take community & Digital Operations -
Disclosure Talent Development: climate-related opportunities.
interests into account. Compliance Management
Employee Safeguard and How the processes for identifying, assessing, prioritizing, and monitoring
Organizational Growth - climate-related risks and opportunities are integrated into the issuer's
Employee Communication and overall risk management process, and the extent of such integration.
Feedback Greenhouse Gas Emissions
Governance Foundation: Climate-related Transition Risks Ecosystem Collaboration:
Compliance, Risk Control Climate-related Physical Risks Supply Chain, Customers
& Digital Operations - Party Climate-related Opportunities & Low-Carbon Operations
Indicators and
Building Leadership and Capital Deployment – Climate Action & Green
Targets
Focus areas of contribution (such as education, environmental issues, Organizational Development Internal Carbon Pricing Operations
KPI B8.1
labor needs, health, culture, sports.) Talent Development: Remuneration Key Performance 2025 – Social
Employee Safeguard and Industry Metrics Responsibility Performance
Organizational Growth - Climate-related Targets
Employee Communication and
Feedback
Governance Foundation:
Compliance, Risk Control
& Digital Operations - Party
Building Leadership and
Organizational Development
KPI B8.2 Resources Deployed in Focus Areas (e.g., monetary or time).
Talent Development:
Employee Safeguard and
Organizational Growth -
Employee Communication and
Feedback
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