ENVIRONMENTAL, SOCIAL,
AND GOVERNANCE REPORT
Exploring a Carbon-Based Future Achieving the Extraordinary
CONTENTS
Harmony: Protecting the
Greetings from the Chairman 01 Innovation: Strengthening
Ecology and Promoting
About Us 03 Foundations for the Future
Transformation
Special Topic:
Charting a New Blueprint for the 07 Strengthening R&D and Innovation 10 Accelerating Low-carbon Transition 20
Protecting Intellectual Property 12 Using Resources Efficiently 22
Enhancing Industrial Chain Resilience 13 Responding to climate change 23
Emphasizing circular economy 24
Endeavor: Creating Value Responsibility: Nurturing
and Seeking Development Talent and Benefiting
Society
Improving corporate governance 15 Safeguarding employee rights 26
Implementing intrinsic safety 18 Deepening talent cultivation 28
Building a harmonious community 29
together
Future Outlook 30
Appendix 31
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Message from the Chairman
Greetings from the Chairman
Passing the Frontier of Carbon Fiber Forging Ahead with
Renewed Vigor
Time cycles on, and the seasons glide by. The year 2025 witnessed us advancing with unremitting and
Tireless Endeavor. Together with our partners in the carbon fiber industry, we weathered challenges,
witnessed breakthroughs, and also reaped substantial rewards.
On this vast journey, our strides have been firm and powerful. We have acted upon our fundamental
duty to the nation, kept in mind the Four Fronts, and comprehensively advanced high-level scientific
and technological self-reliance and self-improvement. New models such as the ultra-high-strength
SYT80, ultra-high-modulus SYM65J, ultra-cost-effective large-tow, and the new-generation SYM55X
have been successively developed. For the first time, we have won the CCE-JEC International Innovation
Award. We have established a commercial aviation-grade prepreg R&D-Pilot-Engineering platform, with
key products receiving pre-approval certification from COMAC PCD. We persist in strengthening research
endeavors and securing key breakthroughs in composite materials and processing technologies,
and were honored with the China Patent Silver Award and the Golden Bull Listed Company Sci-Tech
Innovation Award.
On this vast journey, our spirit has been high and vigorous.We have firmly established a quality and
service consciousness. Relying on system certifications, high-precision online inspection equipment,
the Chief Quality Officer system, and a digital quality information system, we were honored with
the China Quality Award Nomination, making "Made in China" shine on the global stage. We have
continuously deepened digital transformation, and were recognized as a National Advanced Smart
Factory. We have reshaped production paradigms, achieving a digital and intelligent leap across the
entire process, demonstrating the robust strength of green and smart manufacturing.
On this vast journey, our confidence has been full and assured.Capacity construction has been
accelerated and upgraded. On the shores of the vast Yellow Sea, rows of new workshops were
successively topped out, with core equipment for production lines installed. On the snow-capped
plateau, technical upgrades increased the single-line capacity of precursor by over 30%. Green and low-
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Message from the Chairman
carbon initiatives enhanced quality and efficiency. Adhering to the "ecology-first, green development" We thank all employees for their hard work and their families for their silent support. The unwavering
principle, our clean energy usage rate surpassed 75%, and carbon emissions per tonne of product set a dedication and effort from every role converge into a powerful driving force for the company's high-
green benchmark for the industry. The Zhongfu Shenying case was selected into the ESG Blue Book for quality development. The warm night lamp at home makes our footsteps returning home late feel
Listed Companies of Central Enterprises under the State-owned Assets Supervision and Administration eager yet unhurried. In 2025, we were honored with the "China Youth May Fourth Medal Collective"
Commission of the State Council (SASAC). award and individual National Model Worker titles. We built the "Zhongfu Shenying Industrial Worker's
Home," fostered a learning organization, and cared for employees' career growth and family well-being.
"Let the World Feel the Power of Carbon Fiber"—our vision is both grand and simple. Ultimately, it is
about adhering to customer-centricity and application-driven development, to upholding the path of 2026 marks the start of the 15th Five-Year Plan. Zhongfu Shenying, with the mission of "Materials Create
high-quality development, and about realizing the transition of carbon fiber composites from “operable” a Better World," will firm up confidence and seize the momentum to forge ahead. We will continue to
to “reliable, capable and versatile” through long-termism and professionalism. We anchor ourselves in strengthen technological innovation and industrial synergy, integrate green and smart manufacturing,
national strategic fields such as aerospace，wind, solar and hydrogen energy, focus on low-altitude and advance towards carbon fiber technologies with higher strength, higher modulus, and lower
aviation, electronics 3C, healthcare and other emerging growth tracks, and make breakthroughs in carbon footprint. We will join hands with partners to inject stronger material momentum into building
upgraded market segments such as sports and leisure, automotive and rail transit, and marine and a manufacturing powerhouse and contribute a more solid material backbone to advancing the
shipping. Our production and sales volume hit record highs, with operational quality significantly rejuvenation of the Chinese nation on all fronts through Chinese modernization.
improved.
We express gratitude for the striving past and salute the thriving future, extending our most heartfelt
thanks to all friends who have worked together in unity.
We sincerely thank our shareholders and all stakeholders for their support.Precision-targeted
and scientifically enabling industrial policies have provided solid assurance for Shenying to break
development barriers, seize opportunities of the times, and deepen reform and development.
Investors and stakeholders have always stood together through thick and thin with us, forming
the bedrock of our confidence to navigate cycles, pierce through uncertainties, and achieve steady
growth.
We thank our vast number of customers for their trust and tolerance, and our industry partners
for walking hand in hand.Every choice you make inspires us to continuously enhance quality and
optimize experience, enabling carbon fiber materials to move from the laboratory to thousands of
industries, becoming a key force empowering industrial upgrading.We have collaborated sincerely with
industry peers, universities, and research institutes — from joint research to cooperation across the Jian Zhang, Chairman of Zhongfu Shenying
industry chain, from resource sharing to standards advancing — stringing individual links together to
build an industrial ecosystem with a nascent yet promising landscape.
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report About Us
About Us
Company Profile Corporate Culture
Zhongfu Shenying was established in 2006 and is a national In January 2018, Zhongfu Shenying was awarded the 2017 Zhongfu Shenying actively practices the corporate culture
high-tech enterprise specializing in the research, production National Science and Technology Progress Award as the first of China National Building Material Group, adhering to the
and sales of carbon fibers and their composite materials. It is completing unit. At the end of 2021, the Xining ten-thousand- corporate mission of "Materials Create the World". It innovates
a Fortune 500 company under the management of the State- ton carbon fiber project was selected as one of the top ten through inheritance, cultivates through practice, and actively
owned Assets Supervision and Administration Commission of super projects of the State-owned Enterprises under the fosters a corporate culture with unique Zhongfu Shenying
the State Council - China Construction Materials Corporation. Administration Commission. In 2025, the company's revenue characteristics.
On April 6, 2022, it successfully listed on the Shanghai Stock and profitability will significantly increase, its role as an
Exchange (stock symbol: Zhongfu Shenying, stock code: 688295). innovation entity will continue to strengthen, and its market
value and price-earnings ratio will outperform the market. As
The company possesses mature technology for producing
of now, it has built three advanced manufacturing bases in
carbon fibers on a ten-thousand-ton scale. It was the first
Jiangsu Lianyungang, Qinghai Xining, and Shanghai Lingang. It
to achieve breakthroughs in key technologies such as dry Let the world feel the
currently has a dry-spun wet-filament carbon fiber production Mission
spinning and wet spinning and to achieve self-automation of power of carbon fibe
capacity of 29,000 tons and is constructing an additional 31,000
core equipment in China. It has steadily advanced its product
tons of capacity.
range and continuously mastered the production technology
for high-performance carbon fibers of SYT49 and SYT55 at the In the future, the company will concentrate its technical efforts
kiloton scale. It has successively broken through technologies on researching and innovating the possibility of developing
for ultra-high-strength SYT70 and SYT80 at the hundred-ton high-performance carbon fibers, leading the development To build a world-
scale, as well as the engineering preparation technologies for of carbon fiber technology, and continuously accelerating class carbon
high-strength, high-modulus, and high-toughness SYM60J and the construction of the 30,000-ton project in Lianyungang, Vision fiber enterprise
SYM55X. with "new quality productive force" as the core driving force, with global
creating "national superior materials", empowering the new competitiveness
era, and becoming a world-class carbon fiber enterprise with
global competitiveness!
Innovation,
Core Integration,
Values Endeavor,
Responsibility
Upholding our original
aspiration and
Business craftsmanship Pursuing
Purpose excellent quality
Leading technological
progress
Bravely shouldering social
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report About Us
Honors and Awards
First Prize for National Science and
China Quality Award Nomination
Technology Progress
(2025)
(2017)
National Specialized and Sophisticated
CCE-JEC Innovation Product Award
"Little Giant" Enterprise
(2025) Typical Practice of Listed Company Board
(2022)
of Directors
Excellence-Level Intelligent
National Green Factory
Manufacturing Factory
(2023)
(2025)
Golden Bull Listed Company Science and
China Patent Silver Award
Technology Award
(2025)
(2025)
Golden Bull Award for ESG Excellence in
Central SOEs
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report About Us
Sustainable Development Strategy
One Core
With technological innovation as the core, market demand as the guide, and quality upgrading as the goal, we strengthen the application of green product attributes in the development
of the value chain and strive to promote high-quality, low-carbon development in society.
Promoting Green Production through Technology Driving the Circular Economy through Innovation
Improve resource use efficiency through technological upgrades, reduce Fully integrate the concept of a circular economy, accelerate the improvement of
pollutant emission levels, adjust the energy structure using clean energy resource recycling efficiency and cascaded energy utilization, commit to creating
technologies, implement clean production, reduce the carbon footprint of our "Zero-emission" factories, promote the development of a circular economy in the
products, and demonstrate corporate responsibility in supporting national "Dual industry, and strive to achieve green and high-quality development goals.
Carbon" goals and responding to global climate change.
Tapping into High-end Markets through Quality Building an Excellent Team through Talent
Five Pillars
In line with market development needs, continuously build a solid R&D Safeguard employee rights, ensure employee health and safety, provide a
foundation, pursue high-quality products and services, actively respond to secure working environment, and enhance employee happiness and sense of
the concerns of domestic and international markets regarding the Company's belonging; create career development paths tailored to employees' growth
sustainable development performance, and explore new high-end markets. aspirations, deepening employee care initiatives to attract and cultivate high-
caliber talent.
Building Long-term Operations through Governance
Continuously strengthen our responsible corporate image, enhance the capacity building and awareness of our partners in sustainable development, promote coordinated regional
development in our operating areas, and lay a solid foundation for the Company's sustainable growth.
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report About Us
Board of Directors Strategy and ESG Committee ESG Working Group
The highest responsible body for the Company's Responsible for proposing ESG goals and strategies, Responsible for the execution and promotion of
ESG affairs, exercising leadership and supervision assessing and identifying the Company's ESG risks, specific ESG matters of the Company, including
over the Company's overall ESG goals, strategies, including climate change-related risks, and promoting preparing the annual ESG report, advancing the
risks, policies, etc., including climate change-related the establishment of appropriate and effective ESG implementation of the ESG strategy, and organizing
matters. risk management and internal control systems. ESG-related exchanges and training activities.
Special
Topic
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Looking Ahead to the 15th Five-Year
Plan Charting a New Blueprint
Overall Development Strategy for the 15th Five-Year Plan Period
Guiding Principles Development Principles
Guided by Xi Jinping Thought on Socialism with Chinese Advancing towards
Focus on value-driven growth, "Greenization, High-end
Characteristics for a New Era, we will closely align with the strengthening comprehensive Development, and Intelligent
national strategic deployments for high-quality development, competitiveness, Manufacturing" to facilitate
and optimizing scale and the holistic upgrade of
new quality productive forces, and self-reliance in science and efficiency metrics. the carbon fiber industry.
technology during the 15th Five-Year Plan period. Bearing in
mind the country's most fundamental interests and committed Promotion of Serving National
to creating materials of national significance, we will anchor Adherence to
High-Quality Industrial Strategies
our mission as the chain leader of the carbon fiber industry Upgrading
chain within China National Building Material Group. We will Development
establish a development model driven by both R&D innovation
and marketing, fostering a positive interaction between Leadership in Deepening
industrial operations and capital management. Sci-Tech SOE Reform
Asserting the enterprise's Leveraging the Aligning with the national
pivotal role, intensifying R&D Innovation STAR Market platform, strategy for new materials
investment, and driving the deep pioneering institutional and fortifying the security of
Development Goals convergence of technological
and industrial innovation.
innovations, and establishing
a benchmark for reform.
supply and industrial chains.
Anchor the grand blueprint of "Five First-Class"
Forge First-Class Technology
Development Pace
Create First-Class Products Foundation
Industry
Breakthrough leadership,
Develop First-Class Markets
Adopt a "Three-Step" strengthening,
market orientation,
upgrading, ecosystem
market expansion, building,
strategy and technological
and global layout and global
accumulation
Build First-Class Management dominance
Phase 1 （2025-2026） Phase 2 （2027-2028） Phase 3 （2029-2030）
Shape First-Class ESG Influence
Special
Topic
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Key Initiatives for Development During the 15th Five-Year Plan Period
Forge First-Class Technology Achieve breakthroughs in leading-edge technologies, disruptive processes, and greenization.
??
Implement the integrated "Research-Pilot-Industrialization" model and build a collaborative system of government,
industry, academia, research, and application.
Comprehensively build an independent and leading technology system, accelerating the leap from "0 to N".
?? Create First-Class Products
Systematically develop a series of high-performance and large-diameter carbon fiber products with Chinese characteristics.
Fully implement a quality management system to support brand building with excellent quality.
Build strong brand momentum to drive the synchronous upgrading of technology and the supply chain.
Develop First-Class Markets
??
Enhance marketing functions and professional teams, build a customer-centric marketing system, and vigorously expand
international markets.
Build market competitiveness capable of keenly identifying needs, efficiently delivering value, and maximizing company value.
?? Deeply integrate the "Three-Refinements Management" philosophy to enhance operational efficiency. Build First-Class Management
Deepen governance reform and improve market-oriented incentive and constraint mechanisms.
Create an intelligent management and control platform, enhance digitalization level, and build a modern management system
that supports sustainable development.
Foster an industrial ecosystem, take the lead in forming an industry alliance, and guide the healthy development of the industry. ??
Shape First-Class ESG Influence Strengthen capital operations, establish a market capitalization management system, and make strategic investments to build
an industrial ecosystem.
Promote green, low-carbon, and social responsibility practices, establish a carbon management system, and improve ESG
ratings.
Innovation:
Strengthening
Foundations for
the Future
The path of innovation: We firmly adhere to self-reliance and
self-strengthening in technology and in enterprises. Zhongfu
Shenying has always regarded innovation as the core engine
driving development. Through research and development
innovation, we lay a solid technological foundation, build
a robust innovation system, and continuously promote
strategic leaps in key core technologies. In the pursuit of
cutting-edge products, we take on the national strategic
mission, break through the engineering bottlenecks of ultra-
high-performance carbon fibers, achieve a leap from the
laboratory to large-scale production, and constantly set new
performance heights for domestic carbon fibers. We build a
competitive barrier through intellectual property protection,
form a systematic and forward-looking technology
protection system; in enhancing industrial resilience, we
adhere to the path of self-reliant development, strengthen
the coordination of upstream and downstream in the
industrial chain, and with large-scale manufacturing
capabilities, lay a solid foundation for the security and
stability of the carbon fiber industry.
Contributing to the UN Sustainable Development
Goals (SDGs)
Innovation
Strengthening
Foundations for the Future
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Strengthening R&D and Innovation
We have established a Science and Technology Committee and a chief scientist system to continuously enhance strategic foresight, optimize the allocation of innovation resources, and accelerate the
commercialization of research outcomes.
We place great emphasis on the top-level design and platform construction of our R&D system, accelerate the cultivation and introduction of scientific and technological talent, and continuously
strengthen our innovation foundation through internal resource integration and external collaboration.
Three major platforms
Carbon Fiber and Composites Laboratory – Evaluation and
Testing Platform
Carbon Fiber – Pilot Research Platform high-quality development 48K
aerospace
prepreg
Leading innovation, industrial upgrading generation high-
Aerospace-Grade Carbon Fiber Prepreg – Research performance carbon fiber
Platform ten-thousand-tonne
and composite materials
industrialization of high-
Carbon fiber R&D,Driven by high-end applications SYT65
R&D breakthroughs, innovation and
advancements
Lianyungang
mastering dry-jet wet spinning
Engineering trials for carbon fiber technology technology,
development SYT49/SYT55
Xining
Early stages, technology
Industrialization verification
accumulation
Shanghai wet-spinning
process phase,
Carbon fiber application and promotion
SYT35
Three-location synergy
Technology and product iteration
Innovation
Strengthening
Foundations for the Future
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Building a product matrix
Performance illustration of Zhongfu Shenying carbon fiber
High-quality product
Zhongfu Shenying closely follows market demands
and independently researches and develops to
produce over 30 product series and more than
filament bundles. It has achieved full coverage of
high-strength, high-strength/medium model, high-
strength high-model and other categories of carbon
fiber products, providing more reliable "bones and
muscles" for aerospace, low-altitude economy,
automotive industry, high-end sports, new energy
industries and future industries.
Aerospace
Low-altitude economy
Sports & leisure
Wind turbine blades
Carbon/carbon composites
Pressure vessels
Building & bridge
Rail transit
Carbon core cables
Automotive industry
Medical devices
Innovation
Strengthening
Foundations for the Future
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Protecting intellectual property
Zhongfu Shenying strictly adheres to national laws and
regulations concerning intellectual property protection and
continuously improves its intellectual property management New patent Of which, Utility model
system with institutional development at its core. The applications filed invention patent patents
Company has formulated and implemented policy documents
such as the Administrative Measures for the Protection of
Trade Secrets, the Intellectual Property Management System,
and the Administrative Measures for Patents and Papers to
systematically regulate the management and protection of New patents Of which, Utility model
trade secrets, patented achievements, and academic results. granted invention patents patents
Zhongfu Shenying has also incorporated intellectual property
protection into its "15th Five-Year" development plan, clarifying
the requirement to strengthen full-process management and
protection of intellectual property. This institutionalized and
long-term mechanism ensures the security and control of Laying the foundation for future technology protection
scientific and technological innovation achievements, laying and enhanced market competitiveness
a solid foundation for the Company's innovation-driven and
high-quality development.
Innovation
Strengthening
Foundations for the Future
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Enhancing industrial chain resilience
Industrial layout
In Lianyungang
Strengthen cutting-edge innovation, and digitally flexibly
produce products with high modulus, high strength, high
toughness, and excellent interface performance.
With the intelligent factory of an outstanding level as
the core driving force, we will focus on promoting the
construction of a modern chemical plant at the 30,000-ton
base, and drive the production process to upgrade to "less
human intervention and automation" operation.
In Xining
We focus on quality improvement and cost reduction
to solidify its role as a "Ballast Stone". We have built a
base, which was recognized as one of the "Top Ten Super
Projects of Central SOEs".
In Shanghai
We expand composite material application technology
and have built an aerospace-grade prepreg R&D and
production base, providing systematic solutions for
carbon fiber composite material applications.
Endeavor:
Creating Value
and Seeking
Development
The path of progress is built on values and marked by
development. The long-term growth of an enterprise
is rooted in the commitment to quality, the deepening
of service, the joint construction of an ecosystem, the
steadfast pursuit of safety, and the reverence for compliance
management. From laying a solid foundation for product
quality, polishing the excellent service experience, to
creating a stable chain group that promotes mutual benefit
and win-win outcomes, safeguarding the bottom line of
essential safety development, and then establishing a
standardized and efficient compliance management system,
every step of deepening efforts embodies the principle of
striving for excellence, and each step of progress adheres
to the pursuit of creating value and looking towards the
long-term. With practical actions to lay the foundation and
with collective efforts to promote development, Zhongfu
Shenying continuously creates enterprise value, industrial
value, and social value throughout its journey of progress,
and takes every step of high-quality development.
Contributing to the UN Sustainable Development
Goals (SDGs)
Endeavor
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Creating Value and
Seeking Development
Improving corporate governance
Optimizing the governance Optimizing quality
system management
Governance structure4 Product quality governance structure
Management level
Shareholders' Meeting During the reporting
Formulates the Company's quality policy and period, there were no
objectives, creates a culture of quality excellence, and incidents of recall due
builds a benchmark enterprise for quality. to product safety and
Board of Directors: Audit Committee, quality issues.
Nomination Committee, Remuneration and Implementation level
Appraisal Committee, Strategy and ESG
Committee
The Operation Management Department, as the
department responsible for quality management,
breaks down annual quality targets to subsidiary
enterprises and conducts regular quality supervision
Management:various functional departments
and inspections.
underneath
Optimizing quality standards
Operational level
Standards determine quality, and high quality requires high
Production units establish dedicated Quality Control standards to lead and promote it. Based on industry development
(QC) departments and full-time inspection personnel, and its own technological advantages, the Company closely follows
formulate product inspection systems covering all the needs for building quality standards for product application
For the resumes of the Chairman and other members of the
product delivery, and ensure "Zero-Defect" delivery for the formulation and revision of national standards and carries out
Board of Directors, please refer to the Zhongfu Shenying 2025
every process to the greatest extent possible. work related to the optimization of corporate standards. This has
Annual Report.
significantly enhanced its product technology advantages and quality
assurance capabilities, consolidated its industry leadership position,
and laid a solid foundation for sustained high-quality development.
Endeavor
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Creating Value and
Seeking Development
Providing high-quality products Responding to customer complaints
As a leading enterprise in the domestic carbon fiber industry, Zhongfu Shenying thoroughly implements the spirit of General To effectively protect customer rights and improve service
Secretary Xi Jinping's instructions on quality work and fulfills the requirements for building a quality-driven nation. The Company response efficiency, the Company has formulated the
deeply integrates technological innovation with meticulous management. By constructing a unique "One 'Carbon' for the World, Delivery and Service Control Procedures to fully standardize
Quality as the Foundation" full-lifecycle intelligent quality management model, the Company has achieved stable and large-scale the customer complaint handling process and clearly
production of high-performance carbon fiber. It has successfully broken the long-term foreign technological monopoly, providing define the responsibilities of each department upon
key material support for China's strategic fields such as aerospace, new energy, and rail transit. receiving a complaint. We strictly implement the "24-Hour
Acknowledgement, 48-Hour Written Response" mechanism for
quality complaints to ensure issues are resolved in a closed-
Light enough! Strong enough! Accelerating a high-speed life
loop and efficient manner. We promptly handle customer after-
sales service requests and provide technical support. In 2025,
the Company's customer complaint response rate was 100%,
In July 2025, the Wuhan University of Technology Fuel Formula Racing Team (WUT team) won the championship in the British and the resolution rate was 84.1%.
University Formula Racing Competition (FSUK) for vehicle design. With a strong and lightweight body made of carbon fiber, this car,
weighing only 196 kilograms and capable of accelerating from 0 to 100 kilometers per hour in 4.2 seconds, demonstrates the robust
"Chinese speed" of China's new material industry. Customer complaint handling measures
stablish a dedicated customer service team and conduct
E
professional training to enhance their communication
skills, problem-solving abilities, and emotional
management capabilities;
dd after-sales service staff and product delivery
A
managers to provide one-on-one follow-up throughout
the "Pre-sales, In-sales, and After-sales" stages, ensuring
real-time tracking of issue resolution and timely feedback
on customer needs;
dd communication channels such as telephone,
A
WeChat, and email to provide customers with diverse
communication options;
se a digital system to record and track customer
U
complaints, enhancing information transparency in the
complaint handling process;
dopt a cross-departmental collaborative approach to
A
identify and resolve similar issues, improving handling
efficiency;
mploy scientific analysis methods to trace the root
E
causes of problems and systematically improve product
quality to enhance customer satisfaction.
Endeavor
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Creating Value and
Seeking Development
Improving customer satisfaction Practicing responsible marketing
We provide products that satisfy users through advanced
production technology, maintain our corporate vitality The Company focuses on building a comprehensive and systematic service network to enhance its brand marketing strength. By
with the highest quality and efficiency, and fulfill our creating a system that covers domestic and international sales, after-sales, and market management, we achieve full coverage
commitments by focusing on customers. We conduct customer of the sales process and service regions. This enables us to control processes for identifying, reviewing, and managing customer
satisfaction surveys twice a year on a regular basis, compile requirements and changes, ensuring that customer needs and expectations are fully understood and met, thereby providing
analysis reports, analyze the root causes of major areas of products that satisfy customers and enhancing their satisfaction.
dissatisfaction, and formulate corrective and preventive
measures. This ensures that our product quality, delivery,
and services meet customer needs and expectations, thereby
continuously improving customer satisfaction. Implementing supplier management Focusing on ESG performance
The Company has established a full-lifecycle supplier We firmly believe that sustainable development is inseparable
Key performance 2025 evaluation system covering admission audits, performance from the synchronized efforts of our supply chain partners.
assessments, dynamic ratings, and exit mechanisms, ensuring Therefore, the Company places a strong emphasis on the
that every partnership is guided by standards and supported ESG performance of its suppliers. Under equal conditions,
Customer satisfaction rate was by a system. We have formulated regulations such as the we prioritize collaboration with suppliers who demonstrate
Sustainable Supply Chain Management Policy Statement and
the Supplier Code of Conduct, which clearly require suppliers
excellent ESG management and performance. Through this
symbiotic effort, we aim to build a green and responsible
to fulfill their responsibilities in areas such as safety and supply chain ecosystem, ensuring that every collaboration
health, employees and community, and environment and holds both value and warmth.
climate change.
Protecting customer
information
The Company strictly adheres to the Personal Information
Protection Law of the People's Republic of China and industry
data security regulations, always considering customer privacy
and information protection as a crucial bottom line for its
business development. We have enhanced our Confidentiality
Management System and Customer Management System to
strengthen customer data management. From the collection
and storage of customer information to its use, transmission,
and destruction, we have established standardized control
processes to build a strong security defense against
information leakage, tampering, and misuse.
Endeavor
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Creating Value and
Seeking Development
Implementing intrinsic safety
Upholding the bottom line of safety to solidify the foundation for development. The Company has always regarded safety as the prerequisite and bottom line for development. We diligently implement
intrinsic safety construction, deeply integrating the safety concept into every process and link of production and operation. Through institutionalized, standardized, and refined safety management, we
build a strong protective barrier, making intrinsic safety the solid foundation for the Company's high-quality development and ensuring its steady and long-term progress.
Information security Building a compliance system Upholding business ethics
The Company attaches great importance to information security Focusing on sound operations and risk prevention, Zhongfu Zhongfu Shenying adheres to business ethics as a
management, regarding it as a vital guarantee for stable Shenying continuously improves its Compliance Management development principle, strictly complies with the Anti-
development, and has established a comprehensive network System and systematically streamlines compliance Unfair Competition Law of the People's Republic of
security management system. In terms of governance, the management processes. The Company has designated the China, and has formulated the Zhongfu Shenying Code of
Board of Directors serves as the highest decision-making body Audit Committee under the Board of Directors to oversee Business Ethics and the Anti-Corruption Policy Statement.
for information security, providing overarching supervision, risk supervision and has established an Audit Department These documents explicitly prohibit corruption in
professional support, and strategic direction to fortify the and a Legal Compliance Department to conduct audits, legal all aspects of the Company's operations, covering
Company's security defenses. On the policy front, regulations compliance reviews, and related work. A working mechanism all employees, suppliers, and other partners in its
such as the Administrative Measures for Information System led by the Legal Compliance Department, with coordination operations.
Security have been formulated to define the security governance from various business departments, embeds compliance
framework and solidify management responsibilities at all requirements into daily operations and management to
levels. Furthermore, the Company conducts regular vulnerability effectively prevent legal and compliance risks.
analyses to promptly identify, assess, and mitigate security risks.
A standardized reporting mechanism has been established
for employees to report security incidents, vulnerabilities, or
suspicious activities, ensuring smooth feedback channels and
fostering a collective defense mindset across the organization. As
of the end of 2025, the Company's industrial informatization office
platform achieved Network Security Level III protection, with zero
information security incidents recorded throughout the year.
Harmony:
Protecting the Ecology
and Promoting
Transformation
The path to harmony is defined by an ecological bottom
line and a transformative journey. Zhongfu Shenying deeply
integrates the modern mission of technological innovation
with the corporate responsibility for ecological civilization.
Using high-performance carbon fiber materials as a
cornerstone, we have built a full-chain low-carbon practice,
from green manufacturing to empowering downstream
industries, thereby promoting the green transformation
of the industry. Through a comprehensive environmental
management system and continuous innovation in clean
production, we not only reduce pollution and carbon
emissions in our own operations but also leverage the power
of our materials to promote lightweight upgrades in key
sectors such as transportation, energy, and construction. In
our high-quality development, we are painting an industrial
picture of harmonious coexistence between humanity and
nature.
Contributing to the UN Sustainable Development
Goals (SDGs)
Harmony
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Protecting the Ecology and
Promoting Transformation
Accelerating Low-carbon Transition
Strengthening environmental
management Cleaner production
The Company strictly abides by all applicable environmental The Company ensures that the emission concentration and total amount of all pollutants, including wastewater, waste gas, waste,
laws and regulations, such as the Environmental Protection and noise, meet the mandatory standards of the state and the locality. We reduce the emissions of air pollutants, water pollutants,
Law of the People's Republic of China and the Air Pollution hazardous waste, and non-hazardous waste, enhance the efficiency of resource utilization, and reduce the negative environmental
Prevention and Control Law of the People's Republic of China. impact of the Company's production and operation. In 2025, all issues raised by ecological and environmental protection
We adhere to the principle that "Environmental Protection inspections, supervision, and assistance at all levels were rectified on time, with high quality, and in full.
Must Be Managed Alongside Development, Production
and Operation, and Business Activities". It implements
environmental protection requirements at all levels of Pollutant Progress in 2025
decision-making, execution, management, and supervision,
and continuously implement and build a comprehensive Unorganized waste gas collection and treatment have been continuously improved, and the collection efficiency
Waste gas
environmental responsibility system. Zhongfu Shenying has of the main processes has reached over 90%.
obtained environmental management system certification
(GB/T 24001-2016). In 2025, all of the Company's ecological and Waste 100% compliant disposal rate for general solid waste and hazardous waste
environmental protection goals were fully achieved, resulting
in a compliance management record of zero environmental 13.8% reduction in wastewater discharge intensity per unit of product; wastewater per unit of product 28.1%
Wastewater
violations, zero accidents, and zero penalties. reduction in COD emission intensity
The Company continuously improves its environmental
management system, systematically revising and upgrading
regulations such as the Ecological and Environmental
Item 2025 target Progress
Protection Responsibility System and the Implementation Rules
for Ecological and Environmental Protection Management. We
Number of reported incidents of violation (cases) 0 0
have also formulated and publicly released the Environmental
Policy Statement, promoting the in-depth development of
Number of fined incidents of violation (cases) 0 0
environmental management towards a more systematic,
refined, and closed-loop approach.
Number of genuine complaint and report incidents (cases) 0 0
Number of environmental pollution accidents (cases) 0 0
Number of cases involving temporary seizure or revocation of
licenses, administrative detention, or orders for production 0 0
suspension, business closure, or shutdown (cases)
Compliant with local and national
Emissions of wastewater, waste gas, waste, noise, etc. Compliant
relevant regulations and standards
Harmony
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Protecting the Ecology and
Promoting Transformation
Green products
The Company continuously strengthens the construction of its green and intelligent manufacturing system, explores low-carbon management throughout the entire lifecycle of carbon fiber products, increases
investment in energy-saving, low-carbon technologies and the application of renewable energy, actively explores the construction of zero-carbon factories, and strives to achieve industry leadership in energy
consumption and carbon emission intensity for high-value output. Our products are widely used in fields such as wind power, hydrogen energy, and new energy vehicles, contributing to energy conservation and
carbon reduction in downstream industries through their lightweight characteristics. "China Strength" has become a distinct symbol of sustainable material solutions.
Empowering green transformation in multiple fields through material innovation
Transportation sector: New energy sector: Construction engineering sector:
Carbon reduction through lightweighting Efficiency enhancement through clean technology Material savings through longevity
The products are used in unmanned cargo aircraft, As a key material for wind turbine blades, photovoltaic Applied in cables for ultra-long-span bridges, structural
rail transit, and new energy vehicles. By significantly thermal fields, and hydrogen storage cylinders, it reinforcement of buildings, and high-performance
reducing equipment weight, they directly improve effectively enhances the reliability, efficiency, and concrete enhancement, it helps break the limits of
operational energy efficiency and lower energy safety of clean energy equipment, serving as an traditional materials, extend infrastructure lifespan, reduce
consumption and emissions. indispensable supporting force in building a "Green resource consumption and maintenance costs over the
Kinetic Energy" system. entire lifecycle, and reshape the "Green Standard" for
infrastructure strength.
The first carbon fiber subway train in the country, The world's largest 26MW offshore anti-tornadic blade The world's largest-span suspension bridge - Changtai
CETROVO 1.0 - Carbon Star Express Rail Bridge
Protecting biodiversity In the mission of our time to protect clear waters and blue skies, the Company has always adhered to the concept of green
development, committed to achieving a harmonious coexistence between corporate growth and ecological environmental
protection. We strive to minimize the impact of our operations on the natural environment and biodiversity, putting our green
development commitment into practice and making the co-construction of a beautiful home where humanity and nature coexist in
harmony a conscious action internalized by every employee.
Harmony
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Protecting the Ecology and
Promoting Transformation
Using Resources Efficiently
Zhongfu Shenying strictly complies with relevant laws and regulations such as the Energy Conservation Law of the People's Republic of China, adheres to the development philosophy of being green, low-
carbon, and circular, and actively promotes the transformation of its energy structure and the efficient use of resources. Through systematic measures such as optimizing the energy mix, increasing the
proportion of renewable energy, and deepening the recycling of water resources, the Company is committed to reducing the environmental load of resources per unit of product. It has also established a
special energy-saving team and implemented an energy performance assessment system to continuously explore opportunities for energy conservation and consumption reduction, aiming to maximize
energy use efficiency.
In 2025, the Company's energy sources included electricity, steam, natural gas, and municipal water.
The consumption of new energy electricity was Reduce carbon dioxide emissions, increase the purchase of natural gas for use in generating steam instead of traditional
coal-fired steam production.
million kWh
The electricity consumption of new energy (including green Natural gas consumption increased by reducing carbon dioxide emissions by
certificate electricity) has increased month-on-month
% compared to the previous period
%
Clean energy substitution
Shenying Xining is gradually replacing externally supplied coal-fired steam with self-produced steam from natural gas, reducing
carbon dioxide emissions per tonne of steam by 50%.
Increasing the proportion of green electricity
The proportion of clean energy such as wind power and hydropower has been continuously increased, and the proportion of
electricity consumed by wind power and hydropower has exceeded 75%. The comprehensive energy consumption per unit of
carbon fiber and the carbon dioxide emissions have decreased by 4.4% and 8.2% respectively year-on-year. Among them, Shenying
Xining purchased 5,708.28 megawatt-hours of green certificates. Shenying Lianyungang, relying on the resource endowment of the
Lianyungang sea area, has realized the three-dimensional utilization of spatial resources, effectively contributing to the reduction
of carbon footprint.
Harmony
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Protecting the Ecology and
Promoting Transformation
Responding to climate change
Zhongfu Shenying anchors its efforts on the national "Dual Carbon" goals, integrating climate change response into its overall corporate development. We continuously improve our environmental
governance structure, clarify responsibilities at all levels, formulate forward-looking response strategies, and progressively develop our climate change risk management system. We also set quantitative
indicators to ensure the efficient implementation of our actions.
Governance Strategy
To better address the challenges posed by climate change, the In the process of responding to climate change, to identify and assess the impact of climate-related risks and opportunities on
Company has integrated the concept of climate change into its the Company, we integrate risk management requirements. Based on our own operational conditions and with reference to future
sustainable development governance structure. This effectively climate change trends, we closely monitor these trends to identify and evaluate potential climate risks and opportunities. We
promotes the implementation of our climate strategy, reduces comprehensively assess the Company's climate resilience and, based on the analysis results, define and adjust our climate change
the impact of climate risks on our operations, and involves strategy and response measures in a timely manner. This lays the foundation for enhancing long-term operational resilience and
identifying climate opportunities. By embracing the trends seizing future development opportunities.
of clean energy transition and low-carbon development, we
Regarding physical climate risks, the Company has identified that it will be affected by acute and chronic physical risks such as
contribute to the green development of both the Company
increased extreme weather and rising sea levels in the medium and long term. However, considering the locations of our operations,
and society as a whole6.
the continuous improvement of our risk monitoring system, and the vigorous promotion of risk emergency response measures, the
overall level of physical climate risk is relatively low.
The Company's governance structure for responding to climate change is consistent with its sustainable development governance
structure.
Harmony
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Protecting the Ecology and
Promoting Transformation
Emphasizing circular economy
Zhongfu Shenying adheres to the development philosophy of "Resource Efficiency and Green Circulation", and has built and practices a "Dual Circulation Development Model" that combines an "Energy
Input Cycle" with a "Product Output Cycle". We are not only committed to optimizing the resource utilization efficiency of our own production processes, but also leverage the lightweight properties of
carbon fiber materials to empower downstream industries to achieve systematic energy conservation and carbon reduction, promoting the green transformation of the entire value chain.
Zhongfu Shenying's "Dual Circulation"
development model
Fostering green and
lightweight development
Water resource recycling
Empowering low-carbon Over 99% of the Company's water is used for production,
solutions for carbon all sourced from the municipal pipe network. We are
fiber applications fully committed to advancing water recycling through
Promoting natural management and technological innovations such as the
resource circulation cascade utilization of flash steam via ejectors, steam
condensate recovery, the commissioning of a reclaimed
Developing compre- water reuse project, and the upgrade of our wastewater
hensive resource Comprehen- Cascaded
sive utilization
treatment station, thereby achieving efficient, closed-
resource
utilization in carbon of waste loop utilization of water resources.
utilization
fiber production
Key performance 2025
Building a product recycling system Reused water volume of 161.857 million
Promoting high-quality recycling and utilization of carbon fiber products
tonnes, with a water reuse rate of %.
Energy recycling
The Company has built and practices a "Dual Circulation" development model, systematically promoting the optimization of its energy
structure and the extension of resource value. At the energy input end, we not only continue to advance the cascaded recovery and
Shenying Xining was recognized as
recycling of waste heat and steam to achieve "High-Quality for High-Use, Low-Quality for Low-Use", but also reduce the carbon intensity
a "Water Efficiency Leader" among
of our energy structure through measures such as replacing high-carbon coal steam with natural gas steam. At the output end, we
key water-consuming enterprises in
actively direct carbon fiber products toward clean energy fields like wind power and photovoltaics, leveraging material innovation to
Qinghai Province.
support the green and low-carbon transformation of downstream industries. Through the dual path of "Carbon Reduction at the Input
End + Empowerment at the Output End", the Company is gradually achieving a circular leap from energy consumption to value creation,
comprehensively enhancing the green benefits of resource utilization.
Responsibility：
Nurturing Talent and
Benefiting Society
Zhongfu Shenying always adheres to the mission of CNBM,
"Creating a Better World With Materials". We uphold a
people-centered development philosophy, fostering a
humanistic environment of "Happy Work, Happy Life,
and Mutual Growth for Employees and the Company".
We continuously contribute to rural revitalization and
social welfare activities, sowing hope on our journey of
progress.
Contributing to the UN Sustainable Development
Goals (SDGs)
Responsibility
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Nurturing Talent and
Benefiting Society
Safeguarding employee rights
Zhongfu Shenying strictly complies with laws and regulations such as the Labor Law of the People's Republic of China and the Labor Contract Law of the People's Republic of China. We also refer to UN
conventions and declarations, including the Universal Declaration of Human Rights, Inhuman or Degrading Treatment or Punishment, and the International Convention on the Elimination of All Forms of
Racial Discrimination, to formulate our human rights policy statement. This statement defines the commitments and responsibilities regarding human rights for our own operations, suppliers, and other
partners. We have improved our human rights due diligence process, firmly oppose human trafficking, and safeguard the personal freedom and dignity of our employees. We have clarified the channels
for human rights mitigation and remedy grievances, investigation procedures, compensation plans, and system improvements, actively building harmonious labor relations.
Standardized employment
The Company strictly adheres to internal regulations such as
the Employee Handbook of Zhongfu Shenying Carbon Fiber
Co., Ltd., prohibiting discrimination based on gender, ethnicity,
religious belief, age, or region. We treat every employee fairly
and justly, maintaining a "Zero-Tolerance" attitude toward
discrimination and committing to protecting employees from
any form of discrimination, thereby effectively safeguarding
their rights and interests. During the reporting period, the
Company had no instances of child labor or forced labor.
Diversity and equality
The Company provides fair and reasonable work opportunities.
Decisions regarding employment, remuneration, training,
promotion, demotion, or retirement are based on an
individual's work capabilities and needs, not on factors such
as race, nationality, religion, disability, social class, sexual
orientation, union membership, or government relations. The
Company advocates for a diverse and inclusive workforce and
work environment. Senior management is responsible for the
diversity of the Company's employees and regularly conducts
training for all staff on diversity, workplace inclusivity, and
anti-discrimination.
Convening the 2025 Work Conference of Zhongfu Shenying and the 14th Session of the First Workers' Congress
Responsibility
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Nurturing Talent and
Benefiting Society
Caring for employees Upholding the philosophy that "The
Enterprise Is About People, for People, and
Loves People", we implement both inclusive
The Company adheres to a people-oriented philosophy, placing high importance on employee care. Through a variety of cultural and
care and targeted services.
sports activities, it enriches the leisure lives of its employees, builds a platform for communication and interaction, and effectively
addresses their urgent needs and concerns, committed to creating a happy and warm working environment.
Focusing on the spiritual, cultural, and daily needs of our
employees, we have meticulously built an "Industrial Workers'
Home" to create a diverse cultural and lifestyle hub. We
Organize annual employee welfare health check-ups covering all employees to help them fully regularly carry out four-season care initiatives: "Comfort
Employee health understand their physical condition; in Spring, Coolness in Summer, Student Aid in Autumn,
and Warmth in Winter". During important occasions like
Provide critical illness insurance and employee mutual aid insurance to offer comprehensive and
International Women's Day, the Dragon Boat Festival, and
effective protection for employees.
the National Day/Mid-Autumn Festival, we plan special
themed activities to convey the Company's warmth in all
aspects, effectively enhancing employees' sense of belonging,
The Company continuously promotes the scientific, rational, and standardized management of leave. happiness, and fulfillment.
Employees are entitled to sick leave, personal leave, and statutory holidays in accordance with the law.
Statutory holidays include: marriage leave, bereavement leave, family visit leave, parental care leave for
single-child families, family planning leave, and annual leave8:
• Marriage leave: Employees are entitled to 13 days of paid leave for marriage in accordance with the law;
Leave management
• Family visit leave: Employees who do not live with their parents and cannot reunite with them during
public holidays may be granted 20 days of family visit leave, depending on the specific circumstances.
Round-trip travel expenses for the family visit are reimbursed by the Company;
• Family planning leave: Female employees are entitled to 158 days of standard maternity leave. Male
employees are entitled to 15 days of paid paternity leave during their spouse's maternity leave.
Additionally, employees can take various types of f.
Educational aid During the periods of the national senior and junior high school entrance examinations, the
for employees' Company provides exam-accompanying leave for eligible employees. It awards scholarships to the
children children of employees who are admitted to universities and assists the children of employees in
need with applying for educational aid grants through the "Golden Autumn Student Aid" program.
Employee
Carried out special condolences and support (such as for birthdays, childbirth, retirement,
condolences
weddings, and funerals), and conducted "Sending Warmth" assistance visits, supporting a total of
and support
The Company provides annual leave pay for employees in accordance with legal requirements
Responsibility
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Nurturing Talent and
Benefiting Society
Deepening talent cultivation
Zhongfu Shenying effectively integrates the concept of talent development into its business operations and growth. By providing abundant learning resources and diverse career development paths, the
Company offers employees opportunities to showcase their abilities, builds platforms for career advancement, and achieves a win-win situation for both personal value and company development.
Empowering growth through Middle and senior management capability
Industrial worker
training enhancement reform
Focusing on the three core themes of "Application of
The Company has developed an efficient and adaptive talent Lean Work Methods, Process Optimization, and Refined The Company places great importance on the reform of its industrial
training system. Through customized training, new employee Management", the training is closely aligned with the workforce and continuously promotes the enhancement of employee
training, and other programs, it empowers employees in an Company's needs for management modernization and capabilities. Taking the establishment of the Craftsman College
all-round and multi-level manner, establishing a tiered and sustainable development. It adopts a blended online as a new starting point, the Company will focus on strengthening
categorized training system that covers the entire career cycle of and offline model to achieve full coverage of middle the capacity of employee representatives to fulfill their duties,
employees. and senior management. The aim is to strengthen their optimizing the evaluation mechanism for proposals, improving the
strategic execution and refined management capabilities efficiency of cross-level consultations, and accelerating the digital
The Company has enhanced the systematic and standardized through systematic empowerment, driving the Company's transformation of industrial reform. A special innovation fund will be
nature of its training through measures such as strengthening progression towards lean development. established and incentive mechanisms improved, aiming to create
process supervision, optimizing onboarding training, a replicable and scalable model for industrial reform. This will inject
standardizing the management of internal trainers, and revising strong "Craftsman Momentum" into forging a high-quality industrial
training management systems. It conducts specialized, tiered, and workforce for the new era, boosting the Company's transformation
categorized training for groups such as leaders, key personnel, New employee onboarding training and upgrading, and promoting high-quality local economic
and critical positions, forming a training model that combines development.
To help new employees integrate into the Company
"Specialized Training + Self-Directed Learning". The training
culture more quickly during their probationary period,
coverage for leadership personnel reached 100%, with specialized
the Company regularly conducts new employee
training covering over 400 participants throughout the year. This More than just "Craftsmanship"! The Zhongfu
training. This helps them become familiar with work
has effectively promoted the enhancement of competencies and Shenying Carbon Fiber Craftsman College injects
processes and requirements, effectively facilitating
qualities of employees at all levels, providing continuous talent innovative momentum into industrial reform
their role transition and cultural integration.
support for the Company's development.
•S
ystematic training courses: Covering company In August 2025, Shenying Xining's reform of its industrial
Key performance 2025 introduction, rules and regulations,safety production, workforce yielded another significant achievement: the
integrity education, quality management, etc.; Company's meticulously established "Zhongfu Shenying
Carbon Fiber Craftsman College" was officially accredited by
• F ull-coverage training: 100% coverage for new the Qinghai Provincial Federation of Trade Unions. This marks
the Company Cumulative training
employee onboarding training; a solid step forward for the Company in deepening industrial
conducted a total of
•R
esults-oriented evaluation: Training effectiveness reform and cultivating highly skilled talent.
person-times
training is assessed through online exams, surveys, etc. A
Notice of Qualification for Post-training Employment
sessions across all
is issued upon passing the exam to ensure the
levels
training's practical impact.
Responsibility
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Nurturing Talent and
Benefiting Society
Building a harmonious community together
Zhongfu Shenying is committed to fulfilling its social responsibilities through concrete actions. By deeply engaging in public welfare and charity and contributing to community prosperity, the Company
integrates the promotion of local socio-economic development and the enhancement of public well-being with its own growth, working hand in hand with stakeholders to build a beautiful and
harmonious society.
Leading with passion, shouldering public
welfare
On June 13, 2025, the "Donating Blood to Pass on Hope,
Joining Hands to Save Lives" public welfare and promotional
event for the 22nd World Blood Donor Day in Qinghai
Province was held. As a central state-owned enterprise
Donated to the “Good
in Qinghai, Shenying Xining has always integrated social
Building Public Welfare
responsibility into its corporate DNA. By continuously
Fund” for multiple
Launched a series of assistance programs, including the dedicating itself to the cause of voluntary blood donation,
consecutive years;
consecutively five-year “Shenying Student Aid Program” and it has become a benchmark and model for public welfare
the “Construction Technology Festival – Resource Utilization practices in Qinghai Province.
Day”, benefiting hundreds of ethnic minority students through
educational support and material donations;
Actively organize
public welfare teaching
assistance programs
Organized employees to participate in “Voluntary Blood Donation”
Environmental campaigns; Shenying Xining was honored with the “National
protection volunteer Voluntary Blood Donation Promotion Award.”
activities
Future
Outlook
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report
Future Outlook
The "14th Five-Year Plan" has witnessed a remarkable
progress. The grand blueprint for the "15th Five-
Year Plan" is unfolding before our eyes. We always
keep in mind the "Four Comprehensives", and work
collaboratively in the three dimensions of environment,
society and governance. We will continuously strengthen
technological innovation and industrial collaboration,
promote the deep integration of green manufacturing
and intelligent manufacturing, and keep advancing
towards higher intensity, higher standards, and more
low-carbon and green carbon fiber technologies. We
will adhere to people-oriented principles and safety
as the foundation, share development achievements
with shareholders, employees, customers, partners
and society, and build a sustainable development
ecosystem of mutual support and co-prosperity. We
will continuously improve the company's governance
system, and lay a solid foundation for high-quality
development through compliant, transparent and
efficient management.
We will adhere to the strategic path of “Greenization,
high-end, digitalization”, shoulder the responsibility of
being a "material power", enhance our core competitive
edge, and strive to build a globally competitive carbon
fiber technology industry company.
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Appendix
Appendix
Key performance
Environment
Topic index Unit 2023 2024 2025
Total comprehensive energy consumption Tonnes of standard coal 180,371.6 163,336.1 190,242.6
Tonnes of standard coal/tonne of
Comprehensive energy consumption intensity 8.7 8.3 8.4
carbon fiber
Energy Total direct energy consumption Tonnes of standard coal 2,589.1 2,045.6 2,321.0
Total indirect energy consumption Tonnes of standard coal 177,782.6 161,290.5 187,921.7
Including: total purchased electricity consumption Tonnes of standard coal 61,549.3 55,859.2 66,987.1
Including: total purchased heat consumption Tonnes of standard coal 116,233.2 105,431.3 95,742.5
Including: total purchased heat consumption Tonnes of CO2 equivalent 650,218.0 586,016.0 651,032.4
Tonnes of CO2 equivalent/tonne of
Greenhouse gas emission intensity 31.2 29.9 28.8
carbon fiber
Responding to
climate change Including: total scope 1 greenhouse gas
Tonnes of CO2 equivalent 4,642.0 20,420.0 60,015.0
emissions
Including: total scope 2 greenhouse gas
Tonnes of CO2 equivalent 645,576.0 565,596.0 591,017.4
emissions
Hazardous solid waste generation Tonnes 1,941.7 1,505.0 1,690.3
Hazardous solid waste generation intensity Tonnes of carbon fiber 0.09 0.08 0.07
Non-hazardous solid waste generation Tonnes 2,741.9 2,720.9 3,467.5
Non-hazardous solid waste generation intensity Tonnes of carbon fiber 0.13 0.14 0.15
Waste Waste disposal-industrial treatment Tonnes 1,010.3 2,661.6 3,050.6
Waste disposal-landfill Tonnes 1,251.2 350.0 17.8
Waste disposal-incineration for power generation Tonnes 492.4 40 0
Waste disposal-incineration only, no power
Tonnes 1,929.2 1,298.4 1,871.4
generation
Resource
Non-renewable material consumption Ten thousand tonnes 4.4 3.9 4.5
consumption
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Appendix
Topic index Unit 2023 2024 2025
Material consumption intensity Tonnes of carbon fiber 2.1 2.0 2.0
Total drainage Ten thousand tonnes 173.6 118.2 125.7
Resource
Total water withdrawal Ten thousand tonnes 313.7 243.4 275.7
consumption
Water withdrawal intensity Tonnes of carbon fiber 150.7 124.0 122.0
Recycled water volume Ten thousand tonnes 10,103.7 10,248.8 16,185.7
Environmental
Amount of environmental investment Ten thousand yuan 3,770.7 2,733.8 3,205.3
investment
Social
Topic index Unit 2023 2024 2025
Total number of employees Persons 3,719 2,955 3,267
Total number of employees by gender - Male Persons 2,139 1,734 1,981
Total number of employees by gender - Female Persons 1,580 1,221 1,286
Total number of employees by ethnicity - Han Persons 3,414 2,735 2,991
Total number of employees by ethnicity - Ethnic minorities Persons 305 220 276
Total number of employees by job rank - Senior management Persons 9 9 8
Total number of employees by job rank - Senior management (Female) Persons 2 2 2
Total number of employees by job rank - Middle management Persons 70 77 75
Total number of employees by job rank - Middle management (Female) Persons 20 22 22
Total number of employees by job rank - General staff Persons 3,640 2,869 3,184
Employee recruitment
Total number of employees by job rank - General staff (Female) Persons 1,558 1,197 1,957
Number of employees by age - Under 30 Persons 1,455 928 1,195
Number of employees by age - 30 to 50 Persons 2,169 1,944 1,969
Number of employees by age - Over 50 Persons 95 83 103
R&D and technical (STEM) personnel Persons 325 303 328
Including: Female R&D and technical personnel Persons 73 76 130
Total number of new recruits Persons 1,082 366 970
Total number of internal hires Persons 143 144 102
Internal hiring rate % 13.2 39.3 10.5
Employee turnover rate % 14.5 14.3 16.40
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Appendix
Topic index Unit 2023 2024 2025
Average training hours per person Hours 128.6 110.2 100.0
Training hours by gender - Male employees Hours 127.1 110.2 100.0
Training hours by gender - Female employees Hours 130.7 110.2 100.0
Employee training hours by job level - Senior management Hours 38.9 103.1 78.6
Employee training
Employee training hours by job level - Middle management Hours 128.6 116.5 101.4
Employee training hours by job level - General staff Hours 128.9 110.1 100.1
Training hours by age - Under 30 Hours 128.1 110.1 90.7
Training hours by age - 30 to 50 Hours 130.6 110.9 107.2
Training hours by age - Over 50 Hours 88.8 84.5 70.3
Employee training Number of environmental protection training sessions Times 10 12 6
Number of participants in environmental protection training Person-times 3,078 1,103 4,576
Number of employees in the trade union Persons 3,719 2,955 3,267
Percentage of employees in the trade union % 100 100 100
Employee rights Percentage of employees covered by collective contracts % 100 100 100
Percentage of employees represented through the employee representative
% 100 100 100
conference
Number of work-related fatalities Persons 0 0 0
Fatality rate per thousand people ‰ 0 0 0
Number of contractor work-related fatalities Persons 0 0 0
Health and safety Number of workdays lost due to work-related injuries Days 0 0 0
Employee lost time injury rate per million hours worked / 0 0 0
Contractor lost time injury rate per million hours worked / 0 0 0
Investment in safety production Ten thousand yuan 1,985.5 1,797.1 1,374.7
Number of patent applications in the year Items 230 269 308
Number of invention patents in the year Items 123 166 197
Number of patents granted in the year Items 95 107 104
R&D investment Number of invention patents granted in the year Items 17 12 27
Cumulative number of valid patents10 Items 212 319 425
Cumulative number of valid invention patents Items 47 59 90
Cumulative number of successful software copyright registrations Items 3 5 7
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Appendix
Topic index Unit 2023 2024 2025
Customer satisfaction survey rate % 100 100 100
Responsible Average customer satisfaction % 95 96.4 95.6
operations Number of cases of employee violations of the code of conduct Cases 0 0 0
Number of integrity and self-discipline commitment letters signed Copies 205 218 192
Number of tier 1 suppliers with transactions (direct transactions) Counts 165 178 200
Number of critical tier 1 suppliers with transactions (sum of grade A and B) Counts 17 17 21
Supplier Percentage of transaction expenditure with critical tier 1 suppliers % 27.6 35.6 31.7
management Number of critical non-tier 1 suppliers with transactions Counts 0 0 0
Total number of critical suppliers for the year Counts 55 60 63
Total number of suppliers undergoing desk or on-site assessments Counts 55 63 81
Supplier Number of suppliers participating in capacity building Counts 8 8 9
management Percentage of critical suppliers participating in capacity building % 30.9 28 14.3
Total public welfare expenditure Ten thousand yuan 46.6 16.2 11.2
Charitable education support - assisting/rewarding children of employees in
Person-times 17 26 33
need with their schooling
Charitable education support - total expenditure on assisting/rewarding
Ten thousand yuan 2 1.3 2.1
children of employees in need
Social welfare
Charitable education support - total number of university students assisted Persons 25 13 21
Charitable education support - total annual scholarship amount disbursed Ten thousand yuan 10 1.3 2.1
Public welfare activities - visiting and supporting employees in need Person-times 34 34 36
Public welfare activities - total expenditure on visiting and supporting
Ten thousand yuan 4.7 4.3 4.0
employees in need
Zhongfu Shenying Carbon Fiber Co., Ltd. 2025 Environmental, Social and Governance Report Appendix
Responsible operations
Topic index Unit 2023 2024 2025
Number of shareholders' meetings Times 5 2 3
Shareholders'
Meeting
Total number of proposals reviewed and approved Items 20 13 15
Number of directors Persons 9 9 9
Number of female directors Persons 2 4 3
Percentage of female directors % 22 44 33
Number of non-independent directors Persons 6 6 6
Board of Directors
Number of independent directors Persons 3 3 3
Number of board meetings Times 9 5 8
Number of proposals reviewed and approved by the board Items 61 41 62
Status of proposal rejections Cases 0 0 0
Key senior management Persons 9 9 8
Senior management
Number of female senior executives Persons 2 2 2
Zhongfu Shenying Carbon Fiber Co., Ltd. Zhongfu Shenying (Shanghai) Technology Co., Ltd. Contact Us
North of South Ring Road, Dapu Industrial Zone, Lianyungang No. 111 Kaihang Road, Zhuqiao Town, Pudong New Area, Shanghai Domestic Market
Economic and Technological Development Zone
Marketing Director Mr. Teng
Email: tengyz@zfsycf.com.cn
Jiangsu Zhongfu Shenying Carbon Fiber Engineering Center Co., Ltd. Zhongfu Shenying Carbon Fiber Lianyungang Co., Ltd.
Cell Phone: +86 15150997747
North of South Ring Road, Dapu Industrial Zone, Lianyungang No. 15 Xianghe Road, Lianyun District, Lianyungang City, Jiangsu
Economic and Technological Development Zone Province
International Market
Marketing Director Mr. Jiang
Zhongfu Shenying Carbon Fiber Xining Co., Ltd. Zhongfu Shenying Carbon Fiber Co., Ltd. Beijing Office
Email: jiangag@zfsycf.com.cn
No.2 Ganjia Road, Ganhe Industrial Park, Xining Economic Floor 16th, Building 2, Guohai Plaza, No. 17 Fuxing Road, Haidian
Development Area, Xining City, Qinghai Province District, Beijing Cell Phone: +86 13585996021
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