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Contents
About This Report 01
Chairman's Message 03
Robust Governance, Green Development, Innovation Leading the Way:
Strengthening the Compliance Eliminating Exhaust and Smog for One Step Ahead, Leading All
Company Profile 07
Foundation a Healthier Future the Way
Performance in 2025 09
Party Building Leadership 33 Response to Climate Change 53 R&D Innovation 75
ESG Governance 39 Energy and Resource Management 58 Intellectual Property Protection 84
Corporate Culture 11
Corporate Governance 41 Environmental Compliance Governance 63 Enterprise Digital Transformation 85
Double Materiality Assessment 43 Green Development 68 Intelligent Upgrading of Products 89
Risk Management 45
Topic 1 15
Business Ethics 48
Topic 2 23
Topic 3 27
Putting People First: Customer-Centric,
Promoting Collaborative Quality-Driven Future Appendix
Development
Employee Recruitment and Interests 93 Strict Control of Product Quality 109 Appendix 1 123
Employee Care and Benefits 95 Optimizing After-Sales Service 113 Appendix 2 126
Employee Training and Development 100 Responsible Supply Chain 115
Occupational Health and Safety 104 Cybersecurity and Privacy Protection 119
About This Chairman's Company Performance Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
Report Message Profile in 2025 Culture Milestones Governance Development Leading the Way First Centric
About This Report
Introduction Reporting Period
This is the second Sustainable Development Report & ESG Report (hereinafter referred to as "the Report") issued by This Report covers the period from January 1 to December 31, 2025 (“the reporting period”). To improve the
Qingdao TGOOD Electric Co., Ltd., aiming at providing stakeholders with a detailed disclosure of the Company's ESG comparability and forward-looking perspective, some sections of this Report may extend appropriately to previous and
performance in 2025 and responding to ESG topics of critical concern to stakeholders. subsequent years.
Preparation Basis Data Sources
• Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange—Sustainability Report (For All data sources used in this Report include the Company's actual operational data, annual financial data, internal
Trial Implementation) issued by the Shenzhen Stock Exchange statistical reports, third-party questionnaire surveys, third-party interviews, and public data. Unless otherwise
specified, the monetary amounts in this Report are expressed in CNY.
• Self-Regulatory Guidance No. 3 for Companies Listed on Shenzhen Stock Exchange—Preparation of Sustainability
Report (2026 Revised Version) issued by the Shenzhen Stock Exchange
• Corporate Sustainability Disclosure Standards—Basic Standards (for Trial Implementation)
Appellation Description
• Global Reporting Initiative (GRI) Sustainability Reporting Standards (GRI Standards 2021) For the ease of expression and readability, the following terms are used in this Report:
• Guidelines for Chinese Enterprises Sustainability Reporting (CASS-ESG 6.0) issued by the China Enterprise Reform
and Development Society
Company Name Abbreviation
• Guidance on Social Responsibility (GB/T 36000-2015) issued by the National Standardization Administration
• UN Sustainable Development Goals (SDGs) 2030
Qingdao TGOOD Electric Co., Ltd. TGOOD, the Company, or We
• Sustainability Accounting Standards Board (SASB) Standards
Reporting Principles TELD New Energy Co., Ltd. TELD
During the preparation of this Report, the principles of "Materiality", "Quantitative", "Balance" and "Consistency" were Qingdao TELD New Energy Technology Co., Ltd. Qingdao TELD New Energy
applied to define the contents of the Report and the manner in which information is presented:
• Materiality: During the preparation of this Report, the major stakeholders and the ESG issues of concern to them Qingdao TGOOD High-Voltage Equipment Co., Ltd. TGOOD High Voltage
were identified, and targeted disclosures were made in this Report according to the relative importance of such
issues of concern. For details of the materiality assessment, please refer to the sections "Stakeholder Engagement"
Chuankai Electric Co., Ltd. Chuankai Electric
and "Double Materiality Assessment" of this Report.
• Quantitative: This Report presents key performance indicators in the environmental and social aspects using
Yichang TGOOD Electric Co., Ltd. Yichang TGOOD
quantitative data. The measurement standards, methodologies, assumptions and/or calculation tools for the key
performance indicators in this Report, as well as the sources of the conversion factors used, have been explained in
the relevant sections.
• Balance: This Report objectively discloses both positive and negative information to ensure that the Company's ESG
performance during the reporting period is presented in an unbiased manner.
Access to this Report
• Consistency: The data disclosed in this Report are compiled using statistical methods consistent with those used in
previous years. Any individual changes have been explained to ensure the principle of consistency.
The electronic version of this Report is available for download at the websites of the Company (www.tgood.cn) or the
Shenzhen Stock Exchange (http://www.szse.cn)，where you can find further insights about the Company.
About This Chairman's Company Performance Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
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Chairman's Message
"Go Global or Get Left Behind"
Global expansion is an inevitable choice for TGOOD to become bigger and stronger. In 2025, the Company
was awarded a contract for the delivery of 15 sets of 132kV high-voltage prefabricated substations to Saudi
Arabia. Spanning from manufacturing to commissioning, the project achieved successful power transmission in
the Saudi desert within a mere six months. This milestone has injected robust Chinese impetus into energy
cooperation under the Belt and Road Initiative, and advanced the internationalization of Chinese technical
standards. We have established internationalization as a core development strategy, and are committed to
winning global customers with high-quality products and services. Currently, our self-developed and
manufactured power equipment has been sold in over 60 countries and regions, and widely used in renewable
energy, power grid, data centers, mining, and other sectors. We have built a global marketing and service
Yu Dexiang network with a focus on regions such as the Middle East, Southeast Asia, Central Asia, Europe, and Africa. We
are establishing an overseas headquarters for high-voltage prefabricated substation intelligent manufacturing
Chairman of TGOOD in Qingdao Qianwan Comprehensive Bonded Zone, aligning with international production standards and
technical specifications to enhance the international competitiveness and production capacity of our products,
so as to satisfy the continuously expanding demand from overseas markets.
Dear shareholders, customers, partners, and friends from all walks of life:
In 2025, the global industrial landscape underwent in-depth reshaping, with technology and industry
"We Create What the Market Will Need Through Innovation, Not Merely By
deeply intertwined. Innovation achievements are accelerating their transition from laboratories to the
Responding To Current Demands"
frontlines of industry, driving continuous breakthroughs in production methods and efficiency
boundaries. The energy transition entered a phase of accelerated advancement, with the green energy
revolution centered on next-generation power systems reshaping the global energy map. The integrated
collaboration of "source, grid, load, storage and vehicles" has emerged as the mainstay of industry Innovation is the root and soul of TGOOD and TELD. Our R&D efforts are not only focused on the present but
development. China's "Dual Carbon" strategy is advancing in depth, injecting strong and steady also proactively geared toward the future. We have pioneered breakthroughs in the "modularization,
momentum into global green recovery. Artificial intelligence technologies, represented by large models systematization and intellectualization" technology for high-voltage prefabricated substations, aiming to
are being scaled up for implementation, and are deeply integrated with power equipment, charging transform these core nodes in high-voltage power grids from custom-engineered projects into modular,
networks, and zero-carbon buildings, driving the energy industry to accelerate its leap toward flexibly configurable intelligent equipment. In 2025, we launched R&D on high-voltage AC/DC prefabricated
intelligence, efficiency, low carbon emissions, and security. As a core provider and ecosystem operator substations tailored specifically for AI data centers, providing integrated end-to-end power conversion
of energy hub equipment for next-generation power systems, TGOOD and TELD have always aligned solutions ranging from 110/220kV AC to 800V DC.
with national strategies and kept pace with industry transformation. We take the initiative to act as TELD pioneered the world's first technical route and architecture for charging networks, which has become the
trendsetters and doers in the energy revolution, and are steadily advancing on the journey of green charging standard in China. The first decade of electric vehicles (EVs) was defined by electrification, with the
transformation and high-quality development. focus on batteries: long range, ultra-fast charging, and safety. The era of autonomous that began in 2025,
Looking back on 2025, all TGOOD employees have been united in purpose and driven to strive for hinges on hardware plus algorithms, and autonomous driving requires automatic charging. TELD has innovated
excellence. We have focused on enhancing quality, improving efficiency and pursuing innovation-driven automatic charging technologies and products with fully independent intellectual property rights and patents,
development, and advanced steadily with our dual-core business strategy. On this occasion, on behalf of forming a corporate moat in automatic charging. Facing the surging influx of autonomous delivery vehicles,
Qingdao TGOOD Electric Co., Ltd., I am pleased to present to you our 2025 Sustainable Development TELD has developed an innovative automatic charging operation system that enables automatic parking,
Report & ESG Report. This marks the second consecutive year we have publicly released the ESG report, automatic charging, automatic discharging, safety inspection, automatic car washing, and intelligent
serving not only as a systematic review of our practices in environmental, social, and governance areas maintenance. We have built a safe, reliable, high-precision, and adaptable automatic charging mode to meet
over the past year but also a solemn report to all friends from various sectors who have shown concern the automatic charging needs of large-scale commercial application scenarios of autonomous driving.
and support for TGOOD's development.
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Chairman's Message
"To Be a Trendsetter in the Era of Energy Revolution and Digital Revolution" "Party Building Should Not Be A Lofty Ideal, But The Solid Root Anchoring The Company"
In 2025, the "world's first Super-class Zero-Carbon Building" we created broke new ground, attracting As the first listed company on the ChiNext Board of China, TGOOD adheres to high-quality Party building to guide
continuous coverage and attention from major media outlets including China Media Group (CMG), high-quality development, and has gradually explored and developed a replicable and promotable "Ecological
Xinhua News Agency, People's Daily, as well as international media, and setting a new benchmark for Party Building" model in the field of non-public enterprise Party building.
zero-carbon digital buildings in the industry. Our Qingdao and Chengdu bases have been awarded the
With the core connotations of "community of shared future", "altruistic philosophy", and "well-being of Party
title of "Excellence-Level Smart Factories" by the Ministry of Industry and Information Technology,
members", this system has achieved in-depth integration, synchronous development, and mutual promotion
further solidifying our digital foundation.
between Party building work and business operations. In 2025, TGOOD's "Ecological Party Building“ model was
In terms of promoting the intelligent transformation of the enterprise, we use digital twins to connect the included in the Typical Cases of "Strong Party Building, Strong Development" Among Non-Public Enterprises in
entire production process to enhance efficiency and enable empowerment, adopt parametric design to the New Era, recognized by the Social Work Department of the Central Committee of the Communist Party of
drive the integrated implementation of R&D and manufacturing processes, build a flexible manufacturing China, becoming a national benchmark and providing a replicable, actionable practical example for Party building
system through intelligent production lines, and leverage artificial intelligence to drive full-chain quality in private enterprises.
control.
TGOOD has proactively played a leading role as a benchmark, and fully promoted the dissemination and extension
In building an intelligent product portfolio, we deeply integrate our products with artificial intelligence, of its experience in non-public enterprise Party building. The first ecological Party building exhibition hall,
big data, and IoT technologies to create a smart product system capable of autonomous sensing, completed and put into use in 2017, has received over 300,000 visitors from across the country for visits and
decision-making, and optimization. In 2025, our subsidiary TELD launched several intelligent products, research to date, serving as a hands-on classroom for non-public enterprise Party building that is "visible,
including the “60kW AI Charging Module (Self-learning & Maintenance-free)” and the “New-Generation learnable, and applicable". The Party building cases compiled by the Company have been successively included in
Digital Charging Network Platform”, fully demonstrating our robust independent R&D capabilities and the case libraries of Tsinghua University and the China Private Listed Companies Association, providing reference
market competitiveness. cases for enterprises to do a good job in Party building. In June 2025, the Company hosted the Party Building
Exchange and Sharing Conference of the China Listed Companies Association, attracting nearly 100 listed
companies to gather in Qingdao for discussions and exchanges, contributing ideas and suggestions to promote
high-quality development of listed companies under the guidance of Party building. Core personnel of the
Company, including the Secretary and Deputy Secretary of the Party Committee, have been invited to give over
methods in a hands-on manner, and promoted the concepts that "Party building should not be a cost to the
Company, but a source of 'profit'; it should not be a lofty ideal, but the solid root anchoring the Company",
effectively helping a number of enterprises solve the problem of "two separate tracks" between Party building and
business operations.
We are standing at the historic intersection of the energy revolution, transportation revolution, and digital revolution. The global energy transition needs Chinese manufacturing, and China’s "Dual Carbon" strategy
requires solid industrial support—and we are the indispensable doers in this energy transformation. Our in-depth deployment across the five key sectors of "source, grid, load, storage, and vehicles" and our core
product strength enable us to benefit comprehensively from this major energy transition, with strong anti-cyclical capabilities and sustainable growth potential.
We firmly believe that TGOOD and TELD will surely be the trendsetters and doers of the new era.
Chairman of TGOOD
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Company Profile
Founded in 2004, the Company was the first company listed on the ChiNext of the Shenzhen
Stock Exchange in 2009. The Company is the world's largest manufacturer of high-voltage
prefabricated substations, and China's largest EV charging equipment provider and charging
network operator. Deeply engaged in the development of next generation power systems,
the Company provides core equipment for energy hubs and delivers energy management
solutions, effectively enhancing power system's efficiency, flexibility, and reliability.
With over 20 years of industry experience, the Company has been at the forefront of China's
evolving power system, developing end-to-end in-house R&D and manufacturing capabilities
across high-voltage prefabricated substations and EV charging technologies. The Company's
modular, highly integrated high-voltage prefabricated substations combine safety and
reliability with flexible configuration, rapid installation, cost and land-use savings, and strong
environmental performance, serving as core equipment for efficient step-up and step-down
power conversion at voltage levels of up to 400kV in power system. On the EV charging side,
the Company's smart charging equipment goes beyond conventional charging terminals. It
integrates efficient energy replenishment with bidirectional energy interaction, acting as a
digital, intelligent interface between EVs and the grid. Backed by its self-developed charging
safety protection technology, digital charging network platform, energy management
systems, and virtual power plant (VPP) scheduling capabilities, the Company provides not
only charging equipment but also safe, seamless EV charging services. The Company's
charging network enables large-scale distributed EVs to operate as coordinated,
dispatchable mobile energy storage resources – supporting peak shaving, valley filling, and
enhancing the integration of green electricity into the grid.
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Performance in 2025
Economic Performance Environmental Performance
Operating Income YoY Growth Net profit attributable to YoY Growth PV Generation Volume of Wastewater Recycled
Shareholders of the Listed Company
Total Assets YoY Growth Net assets attributable to YoY Growth
Shareholders of the Listed Green Electricity Trading Volume GHG Emission Intensity
R&D Performance Social Performance
Investment in R&D Percentage of Female Employees Total Hours of Safety Training
R&D-to-revenue ratio
Number of R&D Personnel Percentage of R&D Personnel Occupational Health Checkup Coverage Rate Supplier Integrity and Clean Cooperation
Agreement Signing Rate
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Corporate Culture
Team Culture
Team Objectives: Build a cohesive, capable, high-quality, and high-performance team with a strong
sense of responsibility and a "wolf-like" spirit.
Three Pillars Team Principles: The team, not the leader, steers the enterprise, working in unison without fatigue,
trusting one another implicitly
Team Standards: Stay loyal, brave, responsible, and principled.
Team Spirit: Extraordinary resilience and readiness, complementary and mutual achievements
The team, not the leader, steers the enterprise, ensuring that strategies and
Team major decisions are correct.
Cohesion
Innovative Culture
Innovative Concept: We create what the market will need through innovation, not merely by responding
to current demands.
Leverage the team's foresight and future-focused approach to stay ahead at Innovative Objectives: Establish a forward-looking team and leading strategic system to forge core
Innovation every stage. competencies and guide the industry to new heights.
Leadership Innovation Cognition: Innovation means seeing the essence and spotting what others cannot.
R&D means paving a new path and thinking about what others haven't imagined.
Technology means breaking boundaries and doing what others cannot achieve.
Emphasize the importance of profit sharing for value creators, ensuring the
sustainable and high-quality development of the enterprise.
Profit
Sharing
Share Culture
Sharing Objective: Build a community of shared interests and common destinies, enabling individual
value creation.
Sharing Principle: Share profits in both large platforms and small organizations; focus on increasing
profits before sharing; and only share what is valuable.
Sharing Format: Create vitality and wealth with business partnerships and profit sharing.
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January March July August
• The Company launched its international • TGOOD won the bid for the Yalong River new energy • All 15 sets of 132kV mobile substations awarded to • TELD headquarter building was put into
development strategy and won the bid for the prefabricated substation project, located at an TGOOD in Saudi Arabia's national grid tender in formal use, becoming the world's first
for the National Grid of Kingdom of Saudi Arabia. commissioned.
• The China's first 800-kilometer electric heavy truck
This is a core project under "Saudi Vision
trunk line, supported by TELD, was fully connected
across province.
ensure energy security.
December November October September
• TGOOD was named an Excellent-level
• TELD launched six new products, including 110kV
• The "Ecological Party Building" system of TGOOD • The Company contributed to the grid connection of the Smart Factory by the Ministry of Industry
High-Voltage 100MW Super Charging Station, AI
Party Committee was included in the Typical Huadian Qiongjie Wind Farm Project, the world's and Information Technology.
Maintenance-free Charging Module, New
Cases of "Strong Party Building, Strong highest-altitude operational wind power project.
Architecture for Zero-Carbon Parks, and new-
Development" Among Non-Public Enterprises in
• TELD was recognized as a National Manufacturing generation digital platform for charging networks.
the New Era compiled by the Society Work
Category Champion Enterprise by the Ministry of
Department of the CPC Central Committee,
Industry and Information Technology for EV intelligent
becoming the only selected case in Qingdao.
cluster charging system.
• TGOOD was featured on the front page of
Workers' Daily in recognition of its innovative
efforts and outstanding achievements in
reforming the development of industrial workers.
About This Chairman's Company Performance Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
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High-voltage prefabricated substations:
Topic 1
Energy hub of next-generation power systems
Against the backdrop of the global acceleration toward green recovery and China's steadfast commitment to achieving the "Dual Carbon“ goals, an energy system revolution centered on the synergistic interaction of "source-grid-load-storage-
vehicles“ is gaining momentum. Over the past decade, China's new energy industry has achieved leapfrog development. It has not only established the world's largest new wind and solar energy system but also built the "source-grid-load-
storage-vehicle“ solution into a benchmark and reference model for global energy transition in practice.
As the core product of the energy revolution, the next-generation power systems have become the pivotal carrier linking strategic vision with energy practices. At its essence, it represents a systemic transformation centered on the "energy
hub“ and "voltage conversion", with its core architecture composed of substation product portfolio, responsible for functions such as step-up and step-down power conversion, AC/DC conversion, and energy management. Compared to
traditional power systems, the new power system has undergone fundamental restructuring in power supply structure, system architecture, and technological foundations. It breaks the traditional unidirectional chain of "generation - transmission
- consumption", evolving into a full-chain ecosystem of "generation - transmission - distribution - absorption - regulation". Due to the inherent volatility of new energy outputs, the power supply is intermittent and has poor controllability. This
exacerbates the instability of the entire system, thereby driving an increase in the demand for substation capacity to cope with the fluctuating flow of electricity, and also imposing higher requirements for a more intelligent dispatching network to
maintain grid stability in various operating scenarios.
Power Generation Side Grid Side Load Side
Resident Power Consumption
Centralized Renewable Energy Generation
Power Transmission
Distributed Renewable Energy Generation Industrial Power Consumption (Including
System
Data Centers)
Traditional Power Generation
Energy Storage Network
EV Charging Power Consumption
Electricity Power Step up Step down
storage substations substations
Diagram of the Next-Generation Power System
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In the energy flow process of next-generation power systems, the energy hub plays a central and critical role. Spanning from the power generation side and grid side to the load side, the energy hub permeates the entire
system chain, providing essential support for each segment and ensuring that energy flow is clear, controllable, and efficiently coordinated. With the "prefabricated substation“ as its core pivot, TGOOD is dedicated to
becoming the "core provider and ecosystem operator of energy hub equipment for next-generation power systems".
Prefabricated substation is a new type of substation that is factory-preassembled and modularly integrated. Compared to traditional substations, prefabricated substations are better suited to meet the requirements of next-
generation power systems for efficient deployment, reliable operation, and flexible response. Through factory production and on-site assembly of the substations, the construction period can be significantly shortened, the
on-site workload can be reduced, and rapid and flexible deployment can be achieved. Its fully enclosed structure also enhances equipment protection and operational reliability, making it suitable for use in high-density, high-
load environments.
Power Generation Side Grid Side
At the power generation side, renewable energy sources such as wind and solar power face industry At the grid side, after electricity reaches load centers, it must be converted into medium-voltage power
challenges, including low output voltage, high volatility, and difficulty in direct long-distance transmission. As a through step-down hubs. It is then distributed to urban distribution networks, industrial parks, and data
critical link, step-up substations can elevate low-voltage green electricity to higher voltage levels suitable for centers. Finally, terminal equipment steps down its voltage to meet high-load electricity demands of industrial,
long-distance transmission. This enables stable cross-regional delivery through ultra-high-voltage lines, thereby residential, and AI computing applications. Traditional regional step-down substations primarily perform
effectively reducing power losses and enhancing the absorption capacity of green electricity. unidirectional power distribution. However, in next-generation power systems, power grid nodes must
simultaneously address the challenges of random energy fluctuations and bidirectional interactions, while also
The traditional step-up substations at new energy bases often presents challenges such as long construction playing multiple roles including power transmission, information processing, and intelligent regulation.
periods, high costs, high environmental pressure, and difficulty in ensuring quality consistency. To
systematically address the "voltage boosting“ challenge before new energy grid connection, TGOOD has In response to this transformation need, TGOOD has launched its high-voltage prefabricated step-down
innovatively introduced a high-voltage prefabricated step-up substation solution. This solution adopts factory substations and medium-voltage prefabricated step-down substations. These products not only function as an
prefabrication, modular assembly, and intelligent integration, significantly reducing on-site operations and intelligent hub for regional energy but also support stable grid operation through efficient voltage conversion
shortening construction period. It also incorporates green concepts—such as land, energy, water and material and intelligent regulation technologies. Leveraging the Company's mature prefabrication technology, core
conservation, as well as environmental protection—throughout the entire product lifecycle, actively promoting modules of the substations undergo lean production and integration in the factory, reducing construction
the construction and development of green step-up substations. period by over 50%. Once delivered, these substations enable comprehensive status awareness, efficient
information processing, and collaborative intelligent operation and inspection. These products redefine the
Currently, TGOOD's high-voltage prefabricated step-up substations have been widely applied in renewable construction and operation models of substations, significantly reducing overall loss during power transmission
energy fields such as wind and solar power, providing critical infrastructure support for the efficient grid and distribution while enhancing the flexibility and reliability of power distribution.
connection, reliable transmission, and cross-regional absorption of green electricity.
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Load Side Technology Going Global, Pioneering a New Model for Energy
Infrastructure:
In the full-chain closed loop of next-generation power systems, the intelligent upgrade of the load-side power The Saudi Arabia 132kV Mobile Prefabricated Substation
transformation and distribution, the scenario-based implementation of zero-carbon parks, and the high-efficiency
power supply for data centers collectively constitute the core pillars of energy transformation at the terminal side.
Construction Project
Leveraging its core technologies of "prefabrication, modularization, and intellectualization", TGOOD develops a full-
chain solution spanning from hardware equipment R&D to system operations, tailored to the differentiated needs of In 2025, 15 sets of 132kV mobile substations designed and manufactured by TGOOD for National Grid
terminal scenarios such as large industrial and commercial users, data centers, and rail transit systems like railway. SA were successfully commissioned in the desert of Najran Province, Saudi Arabia. As a core project
These solutions have been deeply deployed across multiple critical sectors. under "Saudi Vision 2030"to optimize power grid structure and ensure energy security, this initiative
provides robust support for National Grid SA to address the electricity shortage in the summer peak,
significantly alleviating Saudi Arabia's power shortage concerns in summer.
Data centers, as the core infrastructure supporting the development of artificial intelligence and cloud
computing, demand far higher standards than traditional industrial enterprises regarding extreme reliability,
TGOOD's prefabricated substations transform complex system project into a standardized, modular,
superior energy efficiency, and rapid deployment capabilities for power supply of high voltage substations. We
digitalized, and rapidly deployable "plug-and-play" solution. This innovation swiftly addresses
are developing high voltage AC/DC prefabricated substations tailored for AI data centers, that deliver an
challenges faced by the Saudi Arabia's grid, including the aggregation of emerging industries, the
integrated, end to end power conversion solution from 110/220kV AC down to 800V DC. This solution is enabled
guarantee of electricity supply for people's livelihood, and the restructuring of the power grid. A 132kV
by a high power solid state transformers (SST), which convert s 10/35kV AC into 800V DC for data center loads,
traditional substation typically requires at least three years from design to operation. In contrast,
and is expected to offer high reliability, improved cost efficiency, and shorter delivery cycles. Built in a highly
TGOOD completes the production, installation, and testing of all core modules in the factory. On-site
integrated prefabricated modular form, it leverages modular structures for streamlined engineering and
work involves only simple site leveling and rapid connection for power supply. Leveraging the China's first
manufacturing, while enabling easy expansion and relocation. The design incorporates full redundancy with
pulse assembly line for prefabricated substations, 15 sets of substations were manufactured within two
cross-backup and ring-network power supply to enhance reliability. In addition, it will include a digital intelligent
months. Despite the extreme summer temperatures exceeding 45°C in Saudi Arabia, the project team
operation and maintenance system, using virtual device models for fault diagnosis, prediction, and proactive
completed production, delivery, and energization in less than six months, reducing the construction
maintenance.
period to just one-sixth of that of traditional substations. This ensured the project was operational with
the capability to ensure power supply ahead of Saudi Arabia's 2025 summer peak electricity demand.
Introduction of power supply for the power SST integrated voltage conversion Precision power distribution
grid (high voltage and high capacity) (high power density) in computer room This collaboration has enabled the two parties to establish a deep partnership that goes beyond a
purely commercial relationship. TGOOD's standardized, modular, and digitalized prefabricated
substations represent not only an innovative upgrade in power equipment but also a significant
milestone in the global energy infrastructure's advance into a new era of high efficiency, flexibility, and
substation injecting robust momentum into the energy transition of countries participating in the Belt and Road
cabinet
distribution
room power
Computer
cabinet
Header
cabinet
Server
SST medium-voltage Initiative.
generator
Integrated Solution of Data Center
At the traditional load side, power transformation and distribution
system often suffers from complex operation and maintenance and
delayed response, making it difficult to meet the demands of new
energy integration and load fluctuations. TGOOD has innovatively
launched a full scene, prefabricated zero carbon park solution. By
productizing and modularizing distributed photovoltaics, energy storage,
smart power distribution, and energy management platforms, we
provide customers with customized, plug and play, and flexibly
combinable energy systems. This significantly shortens the construction
period of park energy infrastructure while enabling optimized energy
New-Generation Prefabricated
dispatch within the system. Smart Substation for Railway The Saudi Arabia 132kV Mobile Prefabricated Substation Construction Project
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Prefabricated Integrated Solution: China's "Green National Games of the PRC": TGOOD's
Largest Integrated Offshore PV-Hydrogen- 110kV Prefabricated Smart Substation Project
Storage Demonstration Project
In 2025, TGOOD, in collaboration with Guangzhou Power Supply Bureau
In 2025, the Rudong “Hydrogen-Photovoltaic-Storage Integration” project
of Guangdong Power Grid Corporation, China South Power Grid (CSG),
of Guohua Investment Jiangsu Branch, the China’s largest integrated
constructed the high-quality coastal 110kV prefabricated smart substation
offshore PV-hydrogen-storage demonstration project, was successfully
to provide green, safe, and reliable main power supply energy support for
grid-connected. This marks the official commissioning of China's first
the Guangzhou Nansha main venues of the China National Games. The
comprehensive energy utilization and coastal ecological management
substation is the first one with an architectural appearance adopted by
project that combines photovoltaic power generation, hydrogen
CSG. Compared to traditional construction methods, TGOOD employed a
production and refueling, and energy storage power stations. TGOOD
"rapid delivery“ construction model featuring standardized design, factory
tailored an integrated solution for offshore platform suitable for coastal
prefabrication, and modular assembly. This approach achieved a pre-
tidal flat environments for this project, including 220kV and 35kV
integration rate of 98% for the substation equipment, improving overall
prefabricated substations. The integrated solution employed for the
construction efficiency by 26% and effectively shortening the construction
project features a modular structure, which simplifies on-site construction
duration by 45%.
and enhances construction efficiency. Additionally, the cabin
environmental control technology is adopted to ensure stable equipment For the complex coastal environment, TGOOD's prefabricated substation
operation under various conditions, improving overall performance and adopts a fully welded steel structure with robust wind resistance. The
safety. substation is equipped with triple earthquake-resistant defenses, with a
highest seismic resistance level of 9, and features TGOOD's independently
Upon completion and commissioning, the project is expected to deliver an
developed non-metallic composite panel, with impact resistance 2.3 times
average annual on-grid electricity of approximately 468 million kWh,
the national standard. This technology achieves comprehensive
saving about 151,000 tonnes of standard coal, and reducing CO₂
breakthroughs in corrosion resistance, oxidation resistance, impact
emissions by around 309,400 tonnes annually. This will significantly
resistance, and insulation, effectively resisting salt spray corrosion and
bolster the peak-shaving capacity and power supply stability of the
stone impacts caused by extreme weather, ensuring long-term stable
regional grid. The project represents another major breakthrough in the
operation of substations in harsh environments. Through prefabricated
deep application of TGOOD's prefabricated integrated solutions into
substation technology, the on-site civil construction workload is greatly
offshore platform projects, contributing to regional energy structure
reduced, achieving zero welded connection pollution during the
transformation, green and low-carbon development, and the accelerated
construction process, significantly reducing carbon emissions. This not
realization of the "Dual Carbon“ goals.
only contributes TGOOD's strength to the "Green National Games“ but
also provides a replicable, promotable, high-quality sample for the
construction of power grids in future mega cities.
Integrated Solution for Offshore Platform Coastal 110kV Prefabricated Smart Substation
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Intelligent charging network:
Topic 2
Building new infrastructure for autonomous charging ecosystem
The EV charging network is an energy supply network composed of a large number of distributed charging
terminals, enabling unified access and coordinated operation between the EVs and the power system. In next-
generation power systems, the charging network is not only a charging infrastructure for EVs but also is Pioneer in the Implementation of the Unmanned
evolving into a significant type of dispatchable resource on the load side. As the new energy vehicle industry
advances toward deeper integration of intelligence, and autonomous driving, traditional charging methods that Charging Technology Ecosystem
rely on manual plugging are poorly suited for intelligent scenarios such as autonomous parking and
autonomous driving, constituting a key bottleneck restricting the development of smart mobility.
As early as 2017, TELD laid the groundwork for sustainable industry development with a forward-looking
Currently, as commercial pilot programs for autonomous driving continuously deepen and the intelligence level commitment to automated charging technology. Through years of continuous R&D and application-
of charging infrastructure continues to improve, relevant supporting policies are also being refined and
driven innovation, the Company has established a comprehensive product portfolio addressing diverse
detailed. For example, in the Implementation Opinions on Further Enhancing the Service Guarantee Capability
of Electric Vehicle Charging Infrastructure, the National Development and Reform Commission and other scenarios: the Intelligent Flexible Charging Pantograph for high-power bus charging, the Intelligent
departments explicitly call for "accelerating the formulation and application of high-power charging standards, Flexible Charging Robot for specialized vehicle operations, and the Intelligent Flexible Charging Arm for
and advancing the research and development of new technologies such as wireless charging and autonomous passenger cars and logistics vehicles.
charging". This provides clear direction for the research, development and application of cutting-edge
technologies like autonomous charging.
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Intelligent Flexible Charging Pantograph Intelligent Flexible Charging Robot Intelligent Flexible Charging Arm
Addressing the gap in domestic automatic charging technology, TELD In scenarios such as ports and mining areas, where the vehicle operation Currently, the automatic charging for passenger vehicles is dominated by
formed a dedicated team. Through over ten rounds of material testing intensity is high, working environment is complex, and the operation two technical approaches: wireless charging, which is constrained by issues
such as low power, high loss, high cost, and safety concerns, and faces
and dozens of prototype iterations, the team systematically tackled mode is predominantly unmanned, traditional top charging solutions
difficulties in achieving widespread and scaled adoption; mechanical arm,
technical challenges such as low charging power for buses and short cannot meet the needs of heavy-duty transportation. To address this, which faces challenges such as high charging cost, substantial space
lifespans of charging guns—from electrode durability and stability under TELD introduced the SCD intelligent flexible charging robot to meet the occupation, and weak environmental adaptability, and has yet to establish a
high-current conditions to suspension structures and pressure-following higher demands for reliability and environmental adaptability in charging sustainable commercial model. To overcome these industry-wide bottlenecks
mechanisms. The team pioneered megawatt-level flash charging and systems in such scenarios. The charging robot is not merely a simple and advance the charging for new energy vehicles from "active operation“ to
"seamless experience", TELD independently developed an intelligent
independent suspension electrode connection technology, taking the lead mechanical arm device but a systematic solution that integrates high-
charging device specifically designed for autonomous electric vehicles—the
in achieving a breakthrough in key technology that enables 100,000 power output with flexible intelligent connection. Using single-axis or ACDU bottom-mounted charging system, which has already secured
plug/unplug cycles. three-axis motion platforms, it actively adapts to position deviations in multiple core patents. The system consists of a ground-based bottom
vehicle charging interfaces while meeting the high-power charging charging terminal and a vehicle-mounted charging socket. Unlike traditional
In practical applications, the charging pantograph is equipped with a requirements of heavy vehicles, thereby promote the large-scale side plug-in methods, it ingeniously integrates the charging interface at the
bottom of the vehicle. When the vehicle automatically parks in the parking
built-in pressure detection system. Upon one-click start by the driver, it commercial adoption of electric heavy-duty trucks in long-haul
space and completes cloud-based interaction with the bottom charging
automatically descends, aligns, and initiates charging, with the charging transportation. system, the device activates, automatically completing the connection and
status displayed in real time on the vehicle's screen. This significantly charging, without any manual intervention, thereby truly achieving fully
simplifies the operational process and enhances the operation efficiency To meet the stringent reliability requirements under extreme working autonomous charging.
of bus. Additionally, TELD's press-down charging pantograph reduces the conditions such as ports and mining areas, TELD's R&D team conducted The ACDU bottom-mounted charging system not only automates the
investment in vehicle-mounted pantographs, thereby lowering investment specialized technical research and independently developed a new- charging process but also offers multiple advantages in its system design
costs for bus stations. To date, the intelligent flexible charging generation dual-circuit high-power charging interface. This interface regarding engineering deployment and long-term reliability. It can be directly
pantograph technology has undergone three iterations and has been achieves stable kiloampere-level current transmission while enhancing integrated into a parking space without occupying additional ground or side
space, significantly improving space utilization. Unlike mechanical arm
applied at scale in bus stations in over twenty cities, including Chengdu the equipment's cyclic service life to meet the frequent charging
solutions that rely on complex vision and servo systems, the ACDU system
and Shanghai, becoming a critical support for the green upgrades of demands of heavy vehicles. Currently, the intelligent flexible charging employs self-resetting correction technology, ensuring connection accuracy
urban public transport. The Company also facilitated the release of the robot has been put into operation at multiple ports, including Beibu Gulf while greatly simplifying product design. The charging plug innovatively uses
national standard Electric Bus Top Contact Charging System, marking a Port, Tianjin Port, and Longgong Port, serving as key infrastructure to a floating multi-hole protective cover design, which achieves automatic float
leap from technological breakthrough to industry leadership. promote the green and intelligent upgrades of ports. reset during plugging and unplugging, ensuring tight adhesion and reducing
wear. Additionally, drainage holes and internal structures enable automatic
liquid drainage and foreign object prevention, ensuring charging safety.
Currently, the ACDU bottom-mounted charging system has been
implemented in the multi-level garage of TGOOD headquarter building and
aims to provide key technological support for bottom charging of unmanned
urban logistics vehicles.
Intelligent Flexible Charging Pantograph Intelligent Flexible Charging Robot ACDU bottom-mounted charging system Intelligent Flexible Charging Arm
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Super-class Zero-Carbon Building:
Topic 3
Forward-looking practices for green buildings
In 2025, the TELD headquarter building in Qingdao, Shandong was inaugurated as the world's first Super-class Zero-Carbon Digital Building, Building-Integrated Photovoltaic Curtain
signifying a major advancement for China in zero-carbon building. By systematically integrating key components, including building photovoltaic
power generation, distributed energy storage, EV charging and discharging, automated multi-level parking, intelligent electricity terminals, and
Wall Energy Supply
flexible distribution networks, the TELD headquarter building innovatively established a dynamic interactive "source-grid-load-storage- TELD Headquarters achieves harmonious interaction with the natural
vehicle“ framework centered on the building as a core node. Leveraging an advanced Internet of Things (IoT) sensing network and data modeling environment through integrated design of external glazing, natural
analysis technology, the platform enables real time optimization of the energy production, storage, dispatch and consumption. The Company actively ventilation, and daylighting. During transitional seasons, natural wind is fully
explores innovative mechanisms by participating in ancillary power market services and operating carbon assets, to further enhance the utilized, significantly reducing air conditioning operation frequency. Unlike
comprehensive economic and environmental benefits of the zero-carbon building system. This creates a smart energy hub that integrates conventional projects, the east, west, and south facades employ building-
comprehensive energy management, intelligent transportation hub operation, and lifecycle carbon management. integrated photovoltaic (BIPV) glass curtain walls, forming a "power-
generating envelope“. Cadmium telluride photovoltaic glass directly supplies
DC power, avoiding energy losses from AC/DC conversion and maximizing
renewable energy utilization. This photovoltaic curtain wall generates
substantial green energy for the building, significantly reducing carbon
emissions. Through the aforementioned architectural design, the building has
achieved a substantial improvement in energy efficiency.
Building Appearance
TELD Headquarter Building
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New Energy Vehicle Integrated Power Supply Intelligent Integrated Management System
The underground parking garage of the Zero-Carbon Building features specialized design and fire safety planning The zero carbon building extensively deploys high precision intelligent sensing devices across key areas including
tailored for EV parking scenarios. Every parking space is equipped with charging or charging and discharging power distribution, photovoltaics, energy storage, and charging. These devices collect real time data such as
electricity, heat, light, and equipment status, to build a high fidelity digital twin model of the energy system.
equipment, forming a comprehensive charging service network. With large-scale deployment of Vehicle-to-Grid
Simultaneously, a zero carbon digital building platform with a five layer architecture encompassing the "device layer -
(V2G) charging piles, the employees' electric vehicle fleet is transformed into a "mobile energy storage station“ for IoT platform layer - cloud platform layer - application layer - presentation layer“ has been established. This platform
the building. After parking, vehicles are automatically connected via charging and discharging robots and intelligently integrates multiple systems covering energy, transportation, building automation, smart office, intelligent operations
dispatched by a digital system based on demand. This enables new energy vehicles to provide continuous and stable and maintenance, and carbon asset management. Leveraging advanced AI algorithms, it performs global optimized
scheduling of the "source grid load storage“ system, realizing comprehensive intelligence in strategy generation,
power support for the building, achieving energy substitution. Based on the time-varying carbon intensity factors of
demand forecasting, and economic operation.
the grid, the coordinated "source-grid-load-storage“ operation control is implemented by integrating "photovoltaic,
storage, charging, and discharging", achieving carbon reduction in building operation.
Digital Platform System
The TELD headquarter building integrates a range of cutting edge technologies, including microgrid technology, large
scale V2G aggregated response interaction technology, cross system intelligent dispatching technology based on
digital twins, and VPP technology. It has successfully demonstrated the technical and economic feasibility of the
Multi-level Parking Garage V2G
"Super-class Zero-Carbon“ pathway. Through the coordinated operation of photovoltaics, cascaded energy storage,
and V2G interaction, the building can theoretically achieve green energy substitution, realizing a high degree of
integration among environmental, economic, and social benefits.
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Robust Governance,
Strengthening the
Compliance Foundation
? Party Building Leadership
? ESG Governance
? Corporate Governance
? Double Materiality Assessment
? Risk Management
? Business Ethics
Our response to UN SDGs
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Party Building Leadership
Ecological Party Building
TGOOD embraces General Secretary Xi Jinping's spirit on Party building in non-public enterprises. Centered on deep
One The head's heartfelt belief in Party building
integration of party and business and innovation-driven development, the Company has pioneered a new "Ecological
Party Building" model, creating a "Red Engine“ that propels the Company's growth. Premise
Two Party building should not be a cost to the Company, but a source Party building should not be a lofty ideal, but the solid root
TGOOD has systematically established an ecological Party building system centered on the “One-Two-Three-Four- Principles of ‘profit’ anchoring the Company
Five-Six-Seven” framework by deeply integrating the Party’s innovative theories with its business development
practices and industry characteristics. With “the head’s heartfelt belief in Party building” as the fundamental premise,
the Company adheres to the two principles that “Party building should not be a cost to the Company, but a source of Three Community of Shared Altruistic Philosophy Well-being of Party
‘profit’; it should not be a lofty ideal, but the solid root anchoring the Company”. Systems Future members
The Company has built three systems: “community of shared Four Party Building Party Building Party Building ? Party Building ≠
future”, “altruistic philosophy”, and “well-being of Party Realizations ?Culture ?Management Talent Party
members”, and fostered four key realizations: “Party building
embodies culture; Party building drives management; Party
building nurtures talent; Party building transcends routine
the forge that unites teams
Party building functions as
Party affairs”. The Company anchors five engines: “Party
sustainable growth
the stabilizer for steady and
Party building operates as
amplifier of value creation
Party members act as the
building serves as the navigator for corporate development;
aggregates resources
the connector that
Party building serves as
development
navigator for corporate
Party building serves as the
Party members act as the amplifier of value creation; and
Party building functions as the forge that unites teams,
operates as the stabilizer for steady and sustainable growth, Five
and serves as the connector that aggregates resources”. The Engines
Company also tells six stories including “Qinghai-Tibet
Railway”, “Listing in 100 Days”, “Birth of the Red Pulse
Production Line”, “Filial Piety Warming Parents’ Hearts”, “A
Foreigner’s Dream of Joining the Party” and “Going Global to
Saudi Arabia”, and practices seven work methods including
“Party Building Ideological Work Method”, “Party Building
Team Work Method”, “Party Building Innovation Work
Going
Qinghai-
Method”, “Party Building Management Work Method”, “Happy Six Tibet A
Global to
Saudi
Party Building Work Method”, “Clean Party Building Work Stories Railway
Listing in
Foreigner’s Arabia
Birth of the Filial Piety Dream of
Method” and “Integrated Party Building Work Method”. Red Pulse
Production
Warming
Parents’
Joining the
Party
Line Hearts
Meanwhile, we steadfastly implement the "three priorities"
principle: "prioritizing Party members in recruitment, in cadre
selection, and in tackling tough challenges". This approach
builds a highly cohesive, capable, high-caliber, high- Party Building Integrated Party
performing and responsible team of Party members, ensuring Ideological Work
Party Building Party Building Party Building Happy Party Clean Party
Building Work
Method Method
that Party building resonates and integrates with corporate Team Work Innovation Work Management Building Work Building Work
Seven Work Method Method Work Method Method Method
development, forming a full-chain model of innovation Methods
practice in Party building, and injecting strong red momentum
into the Company's high-quality development.
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Party Building Practices
Forging a Community of Shared Future
The Company's Party Committee has harnessed its strengths to innovate its Party building model, implementing a
TGOOD takes "staying true to our original aspiration and forging a community of shared belief" as its strategic approach with four key pillars: "Consolidating the grassroots organizational foundation, promoting business
ideological starting point. The Company has set up a "Wall of Original Aspirations" and a "Tree of Dreams", integration, establishing Party member responsibility, and strengthening innovation and development", driving the
displaying 100 carefully selected original aspirations of Party members each year. This deeply aligns the Company's high-quality growth.
communist faith with the development of both the Company and its employees, fostering a shared vision
This year, TGOOD innovatively established a dual-credit management model comprising "branch development credits"
from "personal dreams" to "corporate dreams" and ultimately to the "Chinese Dream", thus solidifying a
and "party business integration credits", driving the standardized development of Party branches and their deep
common ideological consensus across the organization. The Company deepens the integration of Party
integration with business operations through quantitative assessment. Branch development credits focus on the
building and business operations to build a community of shared development. Relying on Party building, we
standardized construction of Party branches, covering core elements such as the "Three Meetings and One Lecture"
ensure the correct direction of corporate development and leverage the exemplary role of Party members to
and Party member development. Dynamic assessment, including monthly tracking, quarterly public disclosure, and
achieve mutual benefit and win-win outcomes for Party building and business operations.
annual comprehensive evaluation, is implemented. Party business integration credits center on business priorities such
To enhance team cohesion, TGOOD regularly holds its "Special Three Meetings": democratic life meeting for as technological innovation and market expansion, with dimensions including innovation breakthroughs and project
senior executives, reflection meeting for mid-level managers, and "Sunshine Feedback" session for impact. This encourages Party branches to form Party member vanguard teams to solve operational challenges. The
grassroots employees. These meetings facilitate regular criticism and self-criticism, and improve dual-credit system serves as the core criteria for the annual "Outstanding Party Branch" selection. Winning branches
communication across all levels of the organization. Through the "Three Meetings", we aim to ensure that the receive funding for site construction and are recommended for excellence awards, forming a scientific incentive cycle.
senior executives remain united, the mid-level managers work in harmony, and the grassroots employees
Through the implementation of this system, the Company conducted 62 Party-business exchange sessions and 80
feel valued, thereby ensuring that Party members remain true to their original aspirations and are ready to
innovation practices throughout the year, effectively promoting synergy between Party organizations and corporate
fulfill their missions through self-renewal.
development. This innovation practice not only energizes the organization and achieves full coverage of altruistic
Cultivating an Altruistic Philosophy
practices but also provides a replicable practical model for integration of Party building with business in private
enterprises, demonstrating the empowering value of Party building for high quality corporate development.
The Company has translated the fundamental principle of "serving the people“ into a three-tiered framework Integrated Party-Business Breakthroughs
of altruistic action: "Party members serving the masses, employees serving customers, and the enterprise
contributing to society". This altruistic mindset is deeply embedded in every Party member's consciousness, Focusing on breakthroughs in key technologies, business process optimization, and innovation project incubation, the
becoming an endogenous driving force that motivates the organization toward positive impact. Within the Company advanced 43 integrated Party-business integration initiatives throughout the year. Ten outstanding
Company, the themed practice activity "Pairing in Threes, Doing Three Altruistic Acts“ is widely promoted. It integration cases were selected, forming a TGOOD model of Party-business integration.
calls on one Party member to guide two non-Party members in performing three acts of kindness each year. The Company persists in building Party organizations along the "business chain", deeply integrating them into the
This allows Party members to fulfill their original aspirations through service, while also engaging and entire production and operation process. To strengthen the ability to tackle key issues at the front line, the Company
inspiring the broader workforce. This creates a vibrant dynamic where "one guides two, three accomplish has established 65 grassroots red fortresses, primarily in the form of Party cells and Party member vanguard teams, to
three deeds, and every deed warms the heart". conduct specialized campaigns for specific tasks. To support overseas business expansion, we have set up a Party
TGOOD further extends this altruistic philosophy to its industrial chain and society at large, deepening its Branch within the TGOOD's international business division. It innovatively formed special project teams and war zone-
commitment to "altruistic operation and building an ecosystem platform". By enabling partners through type Party cells, driving international market breakthroughs under the guidance of high-quality Party building efforts.
technology and promoting green development, the Company fosters shared growth. It constructs a positive
altruistic ecosystem characterized by "warming others, personal growth, customer satisfaction, corporate
development, and social benefit", ensuring that the spirit of altruism takes root in the Company's cultural
DNA.
Fostering the Well-being of Party Members
Case 1 Party Building Breakthrough in Saudi Arabia Vehicle-Mounted Substation Project
The Company's Party Committee actively creates platforms to provide comprehensive incentive policies for In the 2025 Saudi 132kV mobile prefabricated substation project,
Party members and employees, integrating humanistic care into its ESG practices. The "Party Member the Company formed a Party member vanguard team. Facing
Innovation Wall" is established to showcase 20 outstanding projects annually, providing a platform for Party challenges like extreme heat and process upgrades, key Party
members and employees to demonstrate their technical breakthroughs and value creation, allowing them to members took the lead by stationing themselves at the factory to
gain a sense of achievement through professional accomplishments. The Company has also set up a Party drive progress. The team completed the entire process from
Members' Public Welfare Association and a Gratitude Fund, and innovatively implements the Filial Piety production to delivery in under three months, cutting the timeline
Salary system (under which parents of employees with at least one year of service regularly receive a "Filial by 40% compared to the original plan. This ensured high-quality,
Piety Salary" from the Company), enhancing employees' sense of fulfillment and happiness across multiple on-schedule delivery and contributed to Saudi Arabia's energy
dimensions. transition under its "Vision 2030". Party Member Vanguard Team
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Caring & Public Welfare
The Company consistently upholds the philosophy of altruism, adhering to the principle of "Party members serving the In 2025, TGOOD's "Ecological Party Building" system was authoritatively recognized by the Social Work Department of
people and the enterprise contributing to society". The Company deeply advances the integration of Party building and the Central Committee of the Communist Party of China and was included in the Typical Cases of "Strong Party
business operations through innovation, pioneering a new "Ecological Party Building" model for non-public enterprises. Building, Strong Development" Among Non-Public Enterprises in the New Era. As the only selected case from Qingdao,
By establishing an ecological Party building system based on "a community of shared future, an altruistic philosophy, this marks a historic leap in the Company's Party building work—from a "provincial benchmark" to a "national
and the well-being of Party members", the Company integrates Party building with corporate culture, business exemplar".
development, and social responsibility. In 2025, the Company continued to regularly carry out the "Pairing in Threes,
Doing Three Altruistic Acts" initiative, to build an "altruistic ecosystem" that fosters personal growth, warms others,
drives corporate development, and benefits society.
Case 2 "Warming Children's Hearts, Walking with Love" Themed Party Day
Before Children's Day in 2025, the TGOOD Party branch, together with the Qingdao TWarm Charity Foundation,
visited Pingdu to offer care to students from underprivileged families supported by the Company's Party branch. Qilu Pioneer Party Organization
Advanced Grassroots Party
Through home visits, the Company learned about the children's living and learning needs, donating school Organization of Shandong in Non-Public Enterprises of
supplies, books, and daily necessities such as rice, flour, and oil. A Party member pairing mechanism was set up, Province Shandong Province
linking Party building with public welfare to provide both material help and lasting care, directly addressing
community needs.
Demonstration Site for Party Advanced Grassroots Party
Building in Two New Organizations Organization in Non-Public Economic
of Shandong Province Organizations of Qingdao
First Batch of Five-Star First Classroom for Party Building
Party Organizations in in Municipal Direct Departments
Qingdao of Qingdao
Care Visit for Students from Underprivileged Families
Party Building Honors
In June 2017, TGOOD's ecological Party building case was included in
the Tsinghua University Teaching Case Library, marking a pioneering In December 2025, TGOOD was featured on the front page of Workers' Daily in recognition of its innovative efforts
achievement in both the non-public and national Party building fields. and outstanding achievements in reforming the development of industrial workers. Guided by Party building and
This case was also added to the Party Building Case Library of the Listed driven by a culture of craftsmanship, the Company has built a comprehensive system for industrial workforce reform.
Companies Association. The Company's Party Committee has received The Company implemented the "Iron Workshop" project, investing over 10 million CNY in training funds. Annually,
numerous accolades, including the "Advanced Grassroots Party more than 60 skill enhancement courses are conducted, benefiting over 1,000 employees and systematically raising
Organization of Shandong Province", the "Demonstration Site for Party the skill level of industrial workers. The Company also deepened reforms in personnel systems and incentive-based
Building in Two New Organizations of Shandong Province", the "Qilu compensation, leading to significant salary increases in key positions. A sound selection and appointment mechanism
Pioneer Party Organization in Non-Public Enterprises of Shandong for highly skilled workers has been established, breaking down "invisible barriers" in career development. Within five
Province", the "Advanced Grassroots Party Organization in Non-Public TGOOD's "Ecological Party Building" system has years, the proportion of highly skilled workers at TGOOD rose from 18% to 35%, and over 150 outstanding frontline
received authoritative recognition from the Social
Economic Organizations of Qingdao", the "First Batch of Five-Star Party Work Department of the Central Committee of the
artisans have been commended. This has enabled industrial workers to "break through" from workers to craftsmen,
Organizations in Qingdao", and the "First Classroom for Party Building in Communist Party of China. reshaping their professional value and providing a replicable model for talent development reform in non-public
Municipal Direct Departments of Qingdao". enterprises.
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ESG Governance Stakeholder Engagement
The Company consistently regards the expectations and demands of stakeholders as a vital driving force for
continuous progress. By establishing regular two-way communication mechanisms, we actively listen to all voices and
systematically address key issues. We are committed to integrating the reasonable concerns of stakeholders into both
ESG Governance Framework strategic planning and daily operations, continuously improving governance and decision-making, to create shared
value, jointly tackle challenges, and achieve a sustainable future together.
The Company is deeply aware that achieving sustainable development goals requires an effective balance between
environmental protection, social responsibility, and economic growth. We actively integrate ESG principles into our
strategic planning and have published the ESG Management System. This provides clear guidance for the Stakeholders Focus and Expectations Response Measures
comprehensive implementation of environmental protection strategies in production operations, active fulfillment of
social responsibilities, and continuous improvement of corporate governance standards. Corporate governance Shareholders' meeting
Information disclosure Investor relations activities
The Board of Directors ("the Board"), as the highest decision-making body for the Company's ESG initiatives, Shareholders or investors
Return and growth Periodic reports
undertakes comprehensive oversight and leadership responsibilities. Its main duties include formulating ESG
Business ethics Interim announcement
governance policies, strategies, objectives, and medium- to long-term plans, overseeing the implementation of ESG
development directions and strategic goals, providing guidance, and reviewing and approving the Company's ESG-
related systems and annual ESG reports. Enhance product quality
Product quality
Customer satisfaction survey
The Board has authorized the establishment of an ESG Management Committee ("the Committee") composed of senior Customers Customer service
Customer privacy protection
executives and heads of business units, which is responsible for coordinating and guiding ESG management. Information security
Improve communication channels
The Committee has set up an ESG Executive Working Group, which is specifically responsible for assisting the Board
and the Committee in guiding and implementing the governance functions related to ESG matters, regularly identifying Fair promotion pathways
Employee training and career
and assessing ESG risks and opportunities faced by the Company, and reporting the assessment results to the Board Professional training
development
for review. Under the coordination of the ESG Executive Working Group, various departments collaborate effectively to Compensation and incentive
Employees Compensation and benefits
be responsible for the daily implementation of ESG initiatives, ensuring that the Company's ESG strategy is integrated mechanism
Occupational health and safety
into all aspects of work planning, execution, and implementation. Occupational disease prevention
Employee care
Safety production
Clean procurement
Supply chain management Integrity and commitment to
Board of
Suppliers Fair procurement agreements
Directors
Transparent procurement Communication and mutual
Leadership, Decision-making assistance
Compliance with laws and
Compliant operations regulations
ESG Management Committee Government and regulatory
Business ethics Lawful tax payment
Research, Guidance agencies
Driving economic development Stable operations
Employment promotion
Charity and public welfare Public benefit activities
ESG Executive Working Group
Community and the public Environmental protection Response to the BRI
Implementation, Execution
Corporate social responsibility Green development
To enhance the understanding and practical capabilities of ESG principles across all levels, including the Board, the
Performance briefings
Company conducts regular ESG training activities, while also disseminating the latest ESG developments. This ensures Media Information disclosure
that ESG principles are deeply integrated into our strategic planning, daily operations, and employee code of conduct. Timely disclosure of information
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Corporate Governance
The Company strictly adheres to the Code of Corporate Governance for Listed Companies, the Company Law of the The Board of Directors
People's Republic of China, and other relevant laws and regulations. Based on its Articles of Association, the Company
has formulated key governance documents such as the Rules of Procedure for the Board of Directors, and the working
rules of the Board Committees. The Company has established a governance structure centered on the Shareholders, TGOOD has established a well-structured Board structure, comprising four specialized committees: the Audit
the Board, and the business management team, laying a solid foundation for standardized operations and long-term Committee, the Strategy Committee, the Nomination Committee, and the Compensation and Evaluation Committee.
development. Each committee operates with clear responsibilities and collaborative synergy, jointly supporting the Board in scientific
decision-making and effective oversight. Corporate governance strictly complies with the Company's Articles of
Association and relevant rules of procedure, with a regular election and rotation mechanism for directors in place to
ensure continuous optimization and compliant operation of the governance structure.
Shareholders' Meeting
The Company views the diversification of the Board as a key factor in promoting balanced and healthy corporate
As the highest governing body of the Company, the Shareholders' Meeting strictly operates in accordance with the development and enhancing core competitiveness. During the reporting period, the Board consisted of nine directors,
Articles of Association, the Rules of Procedure for Shareholders' Meeting, and other relevant governance documents. It including three independent directors, three female directors, and one newly added employee representative director.
convenes meetings and deliberates and decides on major matters in accordance with the law. The Company places Board members exhibit rich diversity in gender, age, professional background, and educational level, bringing broader
great importance on protecting the legitimate rights and interests of shareholders, particularly minority shareholders, industry perspectives and professional expertise to the Company. This diversity aids in comprehensively assessing
and provides a comprehensive online voting option to ensure that shareholders can conveniently exercise their voting market trends and potential risks during decision-making, thereby enhancing the foresight and adaptability of strategic
rights. planning, strengthening governance effectiveness and decision quality, and supporting the Company's steady and
sustainable development. Board members demonstrate diligence and dedication, strictly adhere to rules and
regulations, attend the shareholders' meeting and Board meetings on time, actively participate in major decisions, and
continuously improve their professional competence and performance through regular training.
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Topic Appendix
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Double Materiality Assessment
ESG Topic Materiality Analysis Matrix Chart
High
Based on its long-term development blueprint, the Company adheres to domestic and international ESG information
disclosure standards. The Company employs a dual assessment dimension of impact materiality and financial
materiality and utilizes surveys and other methods to comprehensively understand the expectations and demands of 15
stakeholders, thereby providing a scientific basis for formulating sustainability strategies and risk management. 14 24
Assessment Process of 18 22 2
Assessment Method
Topics
Impact Materiality
After considering factors such as the "degree of impact of the Company on 5
stakeholders", "degree of impact of stakeholders on the Company", and
Identify ESG topics feasibility, the ESG Executive Working Group has developed a list of key 7
mainly concerned by stakeholders to participate in this material topic assessment and invited them
key stakeholders to engage in the assessment. At the same time, in accordance with the
regulatory compliance requirements and benchmark analysis of peer 19
companies, we have identified 27 ESG topics relevant to the Company.
Low
The Company invited key stakeholders and major decision-makers to
participate in an online survey for the assessment of material topics, ranking
ESG topics by their importance. The Company's decision-makers primarily
Conduct survey assess the potential impacts of a topic on the Company's business model, Low Financial Materiality High
questionnaire financial condition, cash flow, and financing costs in the short, medium, and
long term; stakeholders, on the other hand, focus on assessing the degree of
impact that issues have on their own interests, as well as on the Company's
reputation and decision-making. Environmental Social Governance
In line with its strategy and operational guidelines, the Company assesses the management system 10 Product quality and safety 22 Risk compliance
importance of ESG topics based on two dimensions of "materiality to 02 Response to climate 11 Customer rights and satisfaction 23 Business ethics
economic, social, and environmental impacts“ and "materiality to corporate change
Rank the priority of finance". By analyzing the survey results, the Company identified the relative 03 Green operations management
topics importance of each topic across two dimensions. A topic is defined as a 13 Employee employment and human
"material topic“ if it ranks in the top 50% on both dimensions. Through this management rights and interests
assessment, the Company has identified a total of 5 topics of double 14 Employee training & development
materiality. management 15 Occupational health and work safety
products
The management team reviewed the assessment results alongside the
Company's strategic goals and operations. We have identified the material 18 Promotion of industry development
management
Identify material topics topics that are significant to both the Company and its stakeholders, along 19 Community public welfare activities
with their priority levels, which are highlighted in specific sections of this
Report.
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Risk Management Response and Monitoring
For major risks, the Legal Department takes the lead in coordinating with business departments to define risk appetite
and tolerance boundaries based on internal and external environmental changes and the Company's development
strategy, and to establish practical risk management pathways. Each department then refines and implements
The Company deeply integrates risk management into its strategic decision-making and daily operations, establishing corresponding response measures and dynamically tracks their effectiveness. The Legal Department regularly
a comprehensive and robust risk management system. The Company has formulated the Operational Regulations for summarizes the implementation of these measures and provides special reports to the management and the Board.
the Risk Control Committee and Decision-Making Committee of TGOOD Group and the Legal Affairs Management
Measures, and has established a Risk Control Committee and a Decision-Making Committee. Leveraging the expertise Meanwhile, the Company focuses on key risk factors within critical business activities. By utilizing technological means
and capabilities of committee members in finance, legal affairs, audit, operations, and other specialized domains, the such as online monitoring systems, we conduct real-time tracking and dynamic early warning on core risk indicators of
committees assess factors such as the alignment of projects with the Company's development strategy, profit key business processes, management links, and production and operating activities. In case of abnormal indicator
expectations, changes in the market environment, the credit status of partners, and compliance with laws and fluctuations, contingency plans are activated immediately, and corresponding actions are taken. Additionally, for the
regulations. This enables a comprehensive and in-depth identification and evaluation of the Company's risks and their identified issues with financial materiality, the Company further examines its potential risk exposures and formulates
impacts. targeted response measures accordingly.
Risk Management System
We have developed the Risk Management System, applicable to all business processes, departments, and employees
of the Company and its wholly-owned and holding subsidiaries, covering various risk control activities throughout the
entire operational process. A full-process risk management framework of "risk identification - risk assessment - risk
response - risk monitoring - risk reporting - system optimization" has been established to ensure the closed-loop
operation of risk management. By constructing a four-tier management structure with the Board as the decision-
making layer, the Risk Management Department as the executive layer, business and functional departments as the
implementation layer, and the Internal Audit Department as the audit layer, a clear division of responsibilities and work,
and efficient collaboration are achieved. This structure covers all business processes and risk types, ensuring
comprehensive control of significant risks.
Business and functional departments, as the first line of defense in risk monitoring, are responsible for collecting,
organizing, and conducting preliminary analysis of daily risk data, and submitting monitoring information to the Risk
Management Department at specified intervals. The Risk Management Department, as the second line of defense, is
responsible for summarizing, verifying, and conducting in-depth analysis of the monitoring data submitted by various
departments to identify potential risk hazards. The Audit and Inspection Center, as the third line of defense for risk
management, is responsible for independently evaluating the effectiveness of the Company's risk management system,
including tracking, inspecting and evaluating the actual execution results of business processes, as well as the
implementation of risk management policies of the legal risk control center, to ensure the effective functioning of the
first and second lines of defense. Based on audit findings, the audit and inspection center drives business departments
to rectify identified risks, achieving a continuous closed-loop improvement. We conduct regular risk monitoring and
periodically report to the Board, to ensure that both management and the Board are kept informed of the Company's
risk profile in a timely manner.
Risk Identification and Assessment
The Company has established corresponding management systems to regularly promote comprehensive risk
investigation and assessment. Specific measures include evaluating the design and operational effectiveness of the
internal control system against appropriate control standards while conducting self-assessments; and commissioning
third-party audit institution annually to perform specialized audits on financial reports and related internal controls.
The Company's risk assessment comprehensively covers process aspects across all business scenarios. Based on
established evaluation standards, risks are quantitatively assessed from the probability of occurrence and impact level,
thereby identifying annual major risk items. A visual risk map is created, and specialized audit plans are deployed for
high-risk areas. To continuously enhance risk management effectiveness, the Company's Internal Audit Department
regularly conducts comprehensive audits of key business segments such as smart manufacturing, integrated services,
and marketing, to ensure the thorough implementation of corrective measures through monthly tracking and a closed-
loop management mechanism.
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Table: Major ESG Risks, Countermeasures and Financial Impact The Company places high importance on risk management training. Through a systematic training curriculum, we
comprehensively enhance employees' ability to identify and respond to various risks, including market, financial,
operational, and legal risks, further strengthening their risk awareness and providing solid support for the Company's
Description of Major ESG Risks Countermeasures and Main Financial Impact stable operations.
R&D innovation risks Countermeasures ： Rigorously follow product
The R&D process may involve multiple stakeholders
development procedures, with project managers
overseeing and monitoring progress. Conduct phased
Business Ethics
(such as customers and suppliers), requires reviews according to the schedule to verify
significant resources, and is susceptible to external implementation and control at each stage.
factors, which can increase coordination challenges
and make it difficult to manage project progress Financial impact ： In 2025, the Company's R&D Anti-Corruption
and costs. expenses amounted to 554 million CNY.
TGOOD regards integrity and honesty as the cornerstone of its sustainable development and is committed to building
Climate-related risks Countermeasures ： For detailed description, please
refer to the section "Green Development, Eliminating a comprehensive and systematic business ethics compliance framework. We have established stringent internal
For detailed description, please refer to the section Exhaust and Smog for a Healthier Future - Response to control mechanisms and embedded a culture of integrity into every aspect of our operations through regular training
"Green Development, Eliminating Exhaust and Climate Change." and multi-channel supervision, ensuring that all business activities are conducted within a legal and ethical framework.
Smog for a Healthier Future - Response to Climate
Change." Financial impact：For detailed description, please refer
to the section "Green Development, Eliminating
Institutional Framework and Supervision Management
Exhaust and Smog for a Healthier Future - Response to
Climate Change."
Occupational health and safety risks Countermeasures：Develop and implement technical
improvement and equipment retrofit plans based on TGOOD strictly complies with relevant laws and regulations, including the Criminal Law of the People's Republic of
The Company's existing processes and production current technological capabilities. China, the Civil Code of the People's Republic of China, the Company Law of the People's Republic of China, and the
equipment may pose a threat to employee health Anti-Money Laundering Law of the People's Republic of China. The Company has established internal systems such as
or cause safety incidents due to design defects, Financial impact: The ending balance of the Company's
the TGOOD Group Management Measures on Anti-Corruption and Supervision, the Red Line Management System of
aging, wear, or improper operation. work safety expenses is 6.075 million CNY. For details,
TGOOD Group, the Integrity and Professional Conduct Supervision and Management System, and the Employee Red
please refer to the Section IX Financial Report - VII.
Notes to the Consolidated Financial Statements - 45.
Line Guidance Manual. These have established stringent rules and regulations against bribery and corruption, along
Special Reserves“ in the 2025 Annual Report. with an independent supervision mechanism, clearly defining the scope and authority of supervisory work. The
Company adopts a zero-tolerance attitude toward any form of bribery, extortion, or fraud, and is committed to
fostering a clean business environment through a combination of prevention, supervision, and punishment.
Resource and energy risks Countermeasures ： Actively seek alternative energy The Company focuses on high-risk areas such as procurement and marketing, and organizes professional personnel to
sources, adopt a diversified low-carbon energy mix,
The global energy transition may cause Company conduct frequent, in-depth audit inspections on an annual basis. By leveraging big data analytics technology, the
and reasonably reduce operating costs.
to face changes in fuel costs and electricity mix. Company accurately identifies potential risk points, significantly enhancing the foresight and effectiveness of integrity
Failure to transition to a low-carbon energy mix Financial impact：The Company invested around 30 risk management. We sign the Integrity and Self-Discipline Agreement for Employees with staff in key positions, and
could subject the Company to international energy million CNY to construct a photovoltaic curtain wall for strengthen the supervision and examination of employees' business conduct through measures such as integrity
price volatility, leading to increased operating costs. TELD Headquarters . questionnaire surveys, interviews, and filing of integrity-related parties. Meanwhile, we extend integrity requirements
to the supply chain, signing the Integrity and Good Faith Agreement for Business Partners with suppliers and other
partners, requiring them to uphold the principle of good faith in business dealings and jointly creating a fair and
Product quality and safety risks Countermeasures：Submit annual budget applications impartial commercial environment.
and formulate annual calibration plans, performing
During quality inspection, issues such as non- verification/calibration as scheduled; establish
compliance of calibration methods with the performance indicator assessments; conduct pre-
standards, inappropriate inspection equipment, or operation inspection and maintenance; maintain logs to
untimely calibration of monitoring and measuring monitor calibration time; conduct assessment and This year, the Company did not identify any litigation cases involving
equipment may lead to product quality problems, validation during the planning of monitoring and commercial bribery or corruption against the Company, its directors,
resulting in compensation by the Company. measuring devices. management personnel, or employees, nor did it incur any penalties due to
Financial impact：Through assessment, no significant violations of anti-corruption and anti-bribery laws and regulations.
financial impact was identified this year.
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Integrity Training Anti-Unfair Competition
The Company has established a clean integrity training ecosystem under the framework of "leadership from the Audit
As a leading enterprise in power equipment and EV charging industries, the Company fully recognizes that a market
and Supervision Center, deepening by department heads, and joint participation of all employees" to promote clean
environment based on integrity, transparency, fairness, and justice is fundamental to the healthy development of the
conduct policies and case studies to all staff and management.
industry. The Company strictly adheres to the Anti-Monopoly Law of the People's Republic of China and the Anti-
In 2025, the Audit and Supervision Center organized specialized training sessions for directors and management, Unfair Competition Law of the People's Republic of China, as well as other relevant laws and regulations. In its
providing in-depth interpretation of integrity-related laws, regulations, and typical cases. These sessions focused on production and operations, the Company upholds business ethics, consistently adheres to the principle of fair
enhancing their integrity leadership and compliance capabilities, laying a solid foundation for reinforcing clean competition, and resolutely refrains from any abuse of market dominance for monopolistic practices. The Company is
responsibility at all levels and fostering a transparent and upright corporate governance environment. committed to earning customer trust and support by improving product and service quality and enhancing its core
competitiveness.
To enhance the depth and coverage of integrity training, department heads conducted "learning from real cases
around us" awareness sessions tailored to their respective roles. These efforts ensured that all employees fully
understood the importance of clean conduct, recognized position-specific risks and behavioral boundaries, and built a
This year, the Company did not experience any lawsuits or major administrative
strong ideological defense against corruption.
penalty cases resulting from unfair competition practices.
Case 1 Integrity Culture Co-Creation Campaign
This year, the Company launched a company-wide "Integrity Culture Co-Creation Campaign", encouraging Whistleblower Protection
employees to draw on their own job experiences to develop integrity messages and create related works. The
campaign collected 215 original "Integrity Golden Sentences" and 25 creative posters submitted by employees. By The Company actively improves its supervision and whistleblowing mechanism by establishing multiple reporting
promoting "Integrity Desk Stickers", the initiative integrated reminders of integrity into daily work, helping to foster channels, including telephone, mail, email, and reporting links via the official website and official public accounts,
a clean and upright working atmosphere. which are publicly disclosed through its official website and WeChat official account. The Company continuously
refines the procedures for handling reported leads and strengthens the confidentiality of whistleblowers' personal
information. Whistleblowers can choose to report anonymously or with their real identity. All reports are handled by
designated personnel, and the results of investigations are regularly fed back to the whistleblowers. The Company
strictly protects the identity information of whistleblowers and sets strict access controls on the review of reporting
information. The Company safeguards whistleblowers from unfair dismissal, persecution, or improper disciplinary
action, and takes serious measures against any retaliation toward whistleblowers or witnesses.
Reporting Channels
"Integrity Culture Co-Creation Campaign" Creative Posters
Mail: Audit and Supervision Center, Qingdao TGOOD Electric Co., Ltd., No. 336
Songling Road, Laoshan District, Qingdao, China.
Key Performance
Tel.: 0532-89087382
the Company's training programs on anti-commercial bribery and anti-corruption
Email: shenji@tgood.cn
In 2025
attracted more than
exceeding 15,000 hours, achieving a 100% employee participation rate.
Website: https://en.qdtgood.com/about/supervision.html?lang=en
WeChat Official Account: "TGOOD“ Official Account
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Green Development,
Eliminating Exhaust and
Smog for a Healthier
Future
? Response to Climate Change
? Energy and Resource Management
? Environmental Compliance Governance
? Green Development
Our response to UN SDGs
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Response to Climate Change
Governance Strategy
We deeply understand the profound impact of climate change on the global ecological environment, social and Under the national strategic deployment to achieve carbon peak and carbon neutrality, guided by policies such as the
economic stability, and corporate sustainability. To effectively manage related risks and grasp the opportunities for Comprehensive Work Program for Energy Conservation and Emissions Reduction During the 14th Five-Year Plan
transformation, we have incorporated responsibilities related to climate change into our ESG governance system, Period, we have adopted green development as a strategic direction and embedded climate change response at the
ensuring that climate-related issues receive adequate professional expertise and resource support. We have core of our corporate strategy. We are advancing a comprehensive green and low-carbon transformation to contribute
established an ESG Management Committee to oversee the formulation, implementation, and monitoring of our solidly to the nation's ambitious carbon reduction goals.
climate strategy. Through clear division of responsibilities, regular risk assessments, and the incorporation of climate
To assess the adaptability of our strategy and business model to climate change over the short, medium, and long
factors into key business decisions, we ensure that climate-related challenges are identified, assessed, and addressed
term, the Company refers to the TCFD (Task Force on Climate-Related Financial Disclosures) framework, while also
at every stage—from strategic planning to daily operations—thereby continuously enhancing our climate resilience
taking into account industry trends and our own operations. We systematically identify risks and opportunities related
and governance effectiveness.
to climate change, actively seize low-carbon transition prospects, and transform climate challenges into drivers of
growth while managing risks, thereby achieving sustainable development.
Risk Type Risk Description Impact Duration1 Explanation of Current and Anticipated Financial Effect Response Measures
Sudden extreme weather events (such as typhoons, floods,
Current financial effect: During the reporting period, the Company did Establish effective emergency response plans and regularly conduct emergency
snowstorms, droughts, and heatwaves) may cause damage
not identify any incidents of infrastructure damage or operational drills; strengthen meteorological disaster early warning systems, collaborate with
to company offices, factory buildings, warehouses, and
Medium to disruption caused by extreme weather events. professional meteorological agencies to obtain weather information in advance,
Acute Risks infrastructure, affecting the normal operation of businesses
long-term Anticipated financial effect: If extreme weather events occur frequently, and timely stock emergency supplies; provide employees with personal
such as the power equipment production and the
it may result in the damage or destruction of the Company's equipment protective equipment and conduct regular specialized inspections; increase the
construction and operation of electric vehicle charging
and facilities, leading to asset impairment. purchase of insurance related to personnel and property.
networks.
Physical Risks
Current financial effect: During the reporting period, the related financial
In summer high-temperature weather, the increase in
impact could not be identified separately. The financial expenses related
average temperature may lead to increased energy
to energy costs are linked to the "Cost of Sales"account in the 2025 Strengthen equipment management, adopt energy-efficient devices, eliminate
consumption for cooling and air conditioning and then raise
Medium to Annual Report. outdated equipment, and reduce energy consumption; increase the proportion of
Chronic Risks energy costs during the production process. At the same
long-term Anticipated financial effect: If average temperatures continue to rise, it clean energy usage; implement measures to prevent heat stress, and arrange
time, high temperatures may adversely affect the
may lead to increased investment in high-temperature warning and production schedules reasonably.
performance and lifespan of outdoor equipment, resulting
prevention, as well as an increase in days of work stoppage, resulting in a
in increased maintenance costs.
decline in operating revenue.
Current financial effect: During this reporting period, the Company did Closely monitor policy dynamics, establish a dedicated policy research team to
With the increasing stringency of national carbon reduction not identify any increase in operating costs attributable to national or timely track national and local carbon reduction policies, energy policies, etc., and
policies and international carbon emission requirements, international carbon reduction policies. establish plans in advance; promptly adjust strategies to comply with the latest
Legal and Policy Short to
we may face more stringent carbon emission standards and Anticipated financial effect: If carbon reduction policies continue to requirements, ensuring environmental compliance in production operations;
Risks medium-term
low-carbon technology innovation demands from tighten, the Company may increase investments in low-carbon actively participate in the policy-making process, providing corporate perspective
regulators and investors. technologies and equipment upgrades to achieve emission reduction suggestions for policy formulation through industry associations and other
targets, leading to pressure on capital expenditures. channels.
Transformation
Risks The demand from consumers for low-carbon, Current financial effect: The Company has expanded its presence in the
environmentally friendly products and services is EV charging industry, and continuously optimized the products related to Continuously conduct market research to gain in-depth understanding of
continuously increasing. If we fail to meet market demand its EV charging network. In 2025, the operating cost of the EV charging consumer demand characteristics, and proactively lay out product and service
in a timely manner, it may result in a decline in market Short to network business reached 3.28 billion CNY, accounting for approximately strategies; analyze competitor dynamics and formulate corresponding
Market Risks
share. At the same time, the entry of new competitors or medium-term 28.58% of the Company’s total operating costs. Anticipated financial competitive strategies; strengthen the procurement of green and low-carbon raw
changes in the strategies of existing competitors will effect: As consumer demand for EVs continues to grow, intensified materials, screen high-quality green suppliers, and establish long-term and stable
intensify market competition, resulting in pressure on our competition in the EV charging industry may lead to an increase in the cooperative relationships.
profit margins. Company’s R&D cost and service operating costs.
five years (inclusive) after the end of the reporting period (medium-term); and beyond five years after the end of the reporting period (long-term). This approach enables us to reasonably assess the impact of climate change on the Company's business development across different time frames.
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Opportunity Description Impact Explanation of Current and Anticipated Financial Impact, Risk, and Opportunity Management
Type Duration Effect
Energy substitution has led to Climate-related risk management has become a core element for TGOOD in advancing sustainability and enhancing
Current financial effect: The Company has
the continuous growth of new overall business resilience. The Company has established a systematic and pragmatic set of processes and policies
expanded its presence in new energy power
energy power generation
generation and strategic emerging industries, aimed at accurately identifying, scientifically assessing, reasonably prioritizing, and dynamically monitoring climate-
installed capacity and the rapid
capitalizing on opportunities in green products related risks and opportunities, ensuring that the enterprise progresses steadily in a complex and ever-changing
Energy increase in the number of new
Mid-term and new energy development to actively expand
Substitution energy vehicles in use, thus climate environment and market landscape.
power equipment and electric vehicle charging
driving the vigorous
business. In 2025, the total operating revenue
development of our power
from our power equipment and EV charging
equipment and electric vehicle
business reached 15.8 billion CNY, accounting for Risk Assessment Risk Prioritization Risk Monitoring
charging network businesses.
Through the R&D and innovation
Anticipated financial effect: Due to early strategic The Company The Company integrates The Company has
positioning in core equipment and technologies sustainability and climate-related
of green, low-carbon relies on publicly established a long-term
Medium for the global energy transition, as well as its
Products technologies and products, we available climate risks into its overall risk mechanism to regularly
and long- deep involvement in and promotion of new power
and Services can strengthen our market
competitiveness and secure new
term system development, related operating revenue is databases and framework, carefully weighing review its climate
expected to continue growing. the strategic significance,
growth drivers. third-party change policies and
professional data economic significance, and long- assess key performance
to assess the term potential impacts of risks. It indicators related to
TGOOD adheres to the concept of green management throughout the entire product lifecycle, guided by the aligns these considerations with
nature, probability, environmental, social
principles of "minimizing energy and resource consumption, reducing environmental impact, and maximizing
and impact of the Company's strategic and governance factors,
renewability". The Company continuously optimizes its product structure, actively develops high value-added, low-
climate risks. objectives, stakeholder in order to timely
emission, and environmentally friendly products, and strives to enhance the market competitiveness and market share
of green products. expectations, regulatory red lines, identify and respond to
and industry benchmark practices changes in risk
Chuankai Electric incorporates environmental protection and low-carbon development into the four core directions of
to prudently determine risk conditions or emerging
its technological innovation strategy, focusing on switchgear upgrades, smart energy technologies, and localization of
priorities. risks.
nuclear power equipment. While steadily improving the core competitiveness of its products, the company remains
committed to the philosophy of environmental friendliness. Centered on low-carbon development goals, it advances
carbon reduction initiatives such as replacing traditional gases with eco-friendly alternatives and developing a series of
environmentally friendly gas-insulated switchgear products, empowering green and low-carbon transformation
through technological innovation.
As a practitioner of green energy consumption, TELD continuously carries out green technology R&D and product
innovation, leveraging its charging network to integrate new energy vehicles with renewable power generation.
Qingdao TELD New Energy has obtained multiple certifications for green products and green management systems.
Green Design Product Management Green and Low-Carbon Digital & Intelligent Green and Low-Carbon
System Certificate of Qingdao TELD Product Certification of Management System Certificate of Qingdao
New Energy Qingdao TELD New Energy TELD New Energy
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Metrics and Targets
Energy and Resource Management
We conduct comprehensive greenhouse gas (GHG) inventory assessments for Scope 1, Scope 2, and Scope 3
emissions in line with the Greenhouse Gas Protocol: Corporate Accounting and Reporting Standard issued by the
World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD). Our GHG Governance
emissions are mainly derived from direct emissions (Scope 1) from natural gas, gasoline and diesel consumed in daily
office and production operations and indirect emissions (Scope 2) from the use of purchased electricity. In terms of energy management, we strictly complies with laws and regulations in its operating locations, including the
Law of the People's Republic of China on Conserving Energy. We have established the Energy Resource Management
Procedures, clarifying the responsibilities and authorities of each department. We organize heads of relevant functional
Key Performance Unit 2025 departments to coordinate the rational use and management of energy resources, continuously optimize the energy
management system, improve energy utilization efficiency, and reduce energy consumption and environmental
pollution, thereby achieving a dual enhancement of environmental protection and economic benefits.
Total GHG Emissions (Scope 1 + Scope 2)2 tCO2e 35,549.03
In terms of water resource management, the Company integrates water
Direct GHG Emissions (Scope 1) tCO2e 6,472.20
resource management into its corporate sustainability strategy and is
committed to establishing a comprehensive water resource management
Indirect GHG Emissions (Scope 2) tCO2e 29,076.83 system. Through scientific planning and refined management, the Company
strives to ensure smooth company operation while achieving highly efficient
Other Indirect GHG Emissions (Scope 3)3 tCO2e 9,616.91 water utilization and conservation.
In terms of material management, the Company has established a series of
GHG Emission Intensity(Scope 1 + Scope 2） tCO2e/10,000 CNY of revenue 0.023
management regulations, including the Raw Material Inventory
Management Regulations for the Small Box-Type Substation Division,
Warehouse On-Site Management Regulations for the Switchgear Division,
and Packaging Process Guidelines for Low and Medium Voltage Switchgear
Products. Through standardized warehouse management processes and
clear product packaging standards, the Company aims to achieve effective
Moving forward, we will continue to follow the China's "Dual Carbon“ goals, implementing a range of
resource allocation and high efficiency in utilization.
measures to systematically advance the "dual reduction“ of total GHG emissions and intensity, and establish
Energy Management System
a low-carbon operation model that is deeply aligned with the concept of green development. Certification
In 2025, TGOOD obtained ISO 50001 Energy Management System
certification.
operations; Scope 2 covers GHG emissions indirectly resulting from the Company's consumption of purchased electricity. GHG emissions are calculated
in accordance with the 2006 IPCC Guidelines for National Greenhouse Gas Inventories (2019 Refinement) issued by the Intergovernmental Panel on
Climate Change (IPCC). GHG emissions from purchased electricity are calculated in accordance with the Announcement of the Release of CO2 Emission
Factors from Electricity for 2023 issued by the Ministry of Ecology and Environment of the People's Republic of China.。
emissions, two categories were selected: business travel and employee commuting. Going forward, the Company will further strengthen the management
of underlying activity data for GHG emissions, expand data coverage, and improve data accuracy.
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Strategy
The main types of energy and resources consumed by the Company include electricity, natural gas, diesel, gasoline,
water, raw materials, and packaging materials. To achieve energy targets, the Company has formulated the Energy Water Conservation Measures
Management Implementation Plan in accordance with documents such as the List of Energy Performance Parameters,
Energy Baselines, Energy Targets & Indicators and Energy Benchmarks and the List of Energy Targets, Indicators and
Management Programs. We have established and improved the green product manufacturing system, vigorously The Company attaches great importance to the protection and rational utilization of water resources, and is
promoting the application of green technologies, and continuously upgrading manufacturing equipment and committed to improving the efficiency of water resource management in its operations.
processes, thereby driving us to achieve favorable results in energy conservation, water conservation, material
conservation and other aspects. • Introduce advanced smart water meters and monitoring systems to enable real-time monitoring and
accurate measurement of water usage in office areas. Through data analysis, anomalies in water
Energy Conservation Measures consumption can be promptly identified, allowing for swift investigation and resolution of potential leakage
issues;
• Reduce air leakage in links such as conveying pipelines, cut down the idling time of air compressors, and • Promote water-saving devices vigorously, install sensor faucets and efficient water-saving drinking water
improve the gas production efficiency of air compressors; equipment to meet employees' daily water needs while precisely controlling water flow;
• Upgrade drying rooms by installing frequency conversion devices for circulating fans, which can adjust the
• By organizing environmental protection training and posting water-saving slogans, integrate the concept of
operating frequency promptly based on production volume and seasonal changes to improve the energy
water conservation into the corporate culture, enabling employees to develop good water usage habits in
efficiency of circulating fans;
their daily work.
• Carry out the transformation of the sandblasting environmental protection system, timely clean up sand
accumulation in pipelines to reduce wind resistance; meanwhile, regularly inspect and replace filter bags to
ensure their air permeability and cut energy consumption from ineffective operation;
• Deploy digital and intelligent equipment such as fully automatic winding machines and bending robots,
with the production digitalization rate reaching 91.34%, to achieve refined management; Material Conservation Measures
• Launch an energy management system to accurately identify equipment, systems, processes, and
personnel that have a significant impact on the Company's energy consumption based on IoT data The Company adopts advanced green technologies and equipment to reduce raw material consumption in the
collection. Combined with process analysis, equipment status analysis, identification of controllable manufacturing process.
variables of major energy-consuming equipment, and on-site investigations, explore and implement energy
efficiency improvement measures; • For packaging design, optimize the packaging structure to reduce unnecessary packaging materials while
• The installed capacity of the photovoltaic system independently built by the Company reaches 7.19 MW. In ensuring that the packaging strength and protective performance meet the standards.
intelligent control, and achieved a total electricity cost saving of over 3 million CNY. In addition, the • For production processes, adopt the column rolling production process, which overturns the traditional
Company continues to deepen its strategic layout in green electricity trading and has realized large-scale sheet metal processing mode. It directly rolls raw material steel strips into prefabricated substations,
procurement of renewable energy electricity; increasing the material utilization rate from 75% to 98%.
• Formulate the Management Regulations for Office Areas, requiring employees to turn off personal devices
such as computers after work, and the last person who leaves the office area to turn off the power of
public equipment including air conditioners, lighting lamps, and printers;
• Replace traditional lighting tubes with energy-saving LED lamps, achieving annual electricity savings of
approximately 2,000 kWh; meanwhile, upgrade the parking lot lighting system to radar-sensing tubes,
achieving annual electricity savings of approximately 5,000 kWh. For more information on energy and resource recycling, please refer to the section "Green Development -
Circular Economy“ in this chapter.
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Impact, Risk, and Opportunity Management
The Company has developed a comprehensive energy risk management system, utilizing regular energy audits and
assessments to accurately identify critical areas of energy consumption and carbon emissions. In response, the
Company has implemented a range of innovative energy-saving and carbon reduction measures to minimize resource
consumption and environmental pollution at the source.
Metrics and Targets
Key Performance Unit 2025
Natural Gas Consumption m3 2,799,172.00
Gasoline Consumption Tonne 2.98
Diesel Consumption Tonne 168.58
Purchased Electricity kWh 54,799,903.00
Photovoltaic Power Generation kWh 5,843,158.64
Green Electricity Trading Volume kWh 26,377,955.00
Total Energy Consumption kWh 90,004,676.11
Energy Consumption Intensity kWh/10,000 CNY of revenue 57.01
Total Water Consumption4 Tonne 257,218.00
Water Consumption Intensity Tonne/10,000 CNY of revenue 0.16
Moving forward, we will continue to build a green energy system, increase the proportion of green
electricity used, and demonstrate our commitment to low-carbon development through concrete
actions, thereby contributing to the transformation of the energy structure and the achievement of
the China's "Dual Carbon” goals.
water needs in office areas. The Company has encountered no issues in water source acquisition.
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Environmental Compliance Governance
Environmental Management System Environmental Risk Management
The Company adheres to the environmental protection principle of "enhancing efficiency, reducing consumption, The Company attaches great importance to environmental risk management and has formulated the Environmental
saving energy, and reducing pollution", and strictly complies with relevant laws and regulations including the Factor Identification and Evaluation Management Procedure to standardize the identification, evaluation, and
Environmental Protection Law of the People's Republic of China. The Company has developed internal management formulation and implementation of control measures for environmental factors. As the lead department, the General
systems including the HSE Manual, established a comprehensive HSE (Health, Safety and Environment) management Office collaborates with all departments to conduct a comprehensive analysis of the environmental impacts of
system, and set up dedicated environmental management functional departments to ensure the continuous production, services and other activities, ensuring the comprehensiveness and accuracy of risk identification. To
optimization and efficient operation of the environmental management system. ensure the timeliness and accuracy of environmental information, the Company has established a dynamic updating
mechanism for environmental factors, and promptly updates environment-related information such as environmental
As of the end of the reporting period, TGOOD and its subsidiaries, such as TELD, Chuankai Electric and Yichang monitoring results and changes in laws and regulations, providing reliable information support for environmental
TGOOD, have all obtained ISO 14001 Environmental Management System certification. TGOOD, TELD New Energy (a management decisions and promoting continuous improvement of environmental performance.
subsidiary of TELD), and Chuankai Electric have received green factory certification, and Chuankai Electric also has
been recognized as Sichuan Environmental Protection Integrity Enterprise. The Company has established a comprehensive environmental monitoring system, and entrusts qualified third-party
testing institutions on a regular basis to conduct tests on pollution factors such as wastewater and noise. Meanwhile,
the Company requires all subsidiaries to follow the quarterly environmental hazard inspection mechanism, and actively
conduct environmental inspections, thoroughly investigating environmental hazards in the production process to
ensure effective risk management and prevent potential environmental incidents.
To enhance the capability of preventing and responding to sudden environmental incidents, the Company and its
subsidiaries have developed the Emergency Response Plan for Sudden Environmental Incidents in accordance with the
Emergency Response Law of the People's Republic of China and other relevant laws and regulations, clearly defining
the emergency organizational structure and emergency response procedures to ensure a rapid and efficient response
in the event of sudden environmental incidents. We regularly organizes emergency drills and training sessions to
strengthen employees' ability to handle sudden environmental incidents, minimizing the probability of such incidents
and the potential personal and environmental damage they may cause.
Green Factory Certificates
This year, the Company did not experience any major environmental pollution incidents, nor any environmental
violations or penalties.
Environmental Management System Certificates
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Waste Gas Management Waste Management
The Company complies with the Law of the People's Republic of China on the Prevention and Control of Atmospheric The Company follows the working philosophy of "source control, pollution
Pollution and relevant laws and regulations, and has formulated the Management Procedures for Atmospheric reduction and efficiency improvement". In accordance with the Law of the
Pollution Prevention and Control to strictly control waste gas emissions within the plant. The Company commissions People's Republic of China on the Prevention and Control of Environmental
professional third-party organizations to regularly monitor exhaust and dust emissions, ensuring that all waste gas Pollution by Solid Wastes, the National Catalogue of Hazardous Wastes and
emission indicators comply with national environmental protection standards. other relevant standards, the Company has developed the Solid Waste
Management Procedure to fully standardize the classification, storage and
disposal processes of factory waste. The Company clarifies the waste
Waste Gas Treatment Measures
management responsibilities of each department: the General Office is fully
responsible for the Company's waste management, while each business unit
The dust generated during production is treated by dust collectors and exhaust gas
is tasked with workshop waste disposal and daily inspections. The Company
purification devices, and is then discharged through a chimney of a certain height.
actively adopts advanced environmental protection technologies and
TGOOD
processes to carry out efficient development and high-quality utilization of
The dust generated during the powder coating process is collected by dust removal
resources, striving to reduce the generation and discharge of pollutants. In
equipment, and is cleaned regularly.
addition, the Company has established a supporting incentive and restraint
Welding fumes generated during the welding process are treated using electrostatic mechanism, granting rewards to teams with outstanding performance in
adsorption technology. waste classification and disposal, to continuously strengthen employees'
environmental protection awareness and responsibility implementation. Hazardous Substance Process Management
(HSPM) System Certificate
Dust generated from the sandblasting process is managed through cyclone dust collection
TGOOD High
and cartridge filtration. During the reporting period, Qingdao TELD New Energy obtained the
Voltage Hazardous Substance Process Management (HSPM) System Certificate.
Volatile Organic Compounds (VOCs) generated during the coating process are treated
through water vortex filtration, filter cotton, activated carbon adsorption & concentration,
For various types of waste generated during production, the Company adopts a strategy of classified management and
and catalytic combustion technology.
resource-based disposal. For hazardous waste such as waste paint sludge, activated carbon and filter cotton, the
Company entrusts qualified professional organizations to conduct standardized incineration treatment. For general
Wastewater Management waste such as sludge, the Company adopts secure landfill for harmless disposal. For metal packaging barrels and
waste oil, the Company carries out recycling and reuse to maximize resource utilization efficiency.
The Company strictly adheres to the laws and regulations of the locations where it operates and has established a To properly handle factory waste, maintain environmental cleanliness, and improve resource recycling rates, TGOOD
series of management systems, including the Management Procedures for Water Pollution Prevention and Control. has set management targets for wastewater, waste gas, and solid waste. Multiple measures are implemented to
These systems involve monitoring the discharge of production and domestic wastewater to ensure that domestic ensure standardized disposal and resource utilization of all types of waste, thereby continuously reducing
sewage is treated rigorously and meets discharge standards, thereby reducing wastewater discharge and environmental impact and promoting green operations. This year, the Company did not experience any incidents
environmental pollution. In 2025, the Company put into use high-efficiency wastewater treatment equipment. Based caused by pollutant emissions that have had significant impacts on groups including employees and local community
on the application status of circulating water for surface treatment, the equipment enables automatic separation of residents.
wastewater and impurities through chemical reagent reaction, effectively reducing sediment, preventing water quality
deterioration and odor, and realizing effective separation of paint sludge and water. The treated water can be recycled
and reused, which not only reduces wastewater discharge but also saves production water consumption, achieving
annual savings of over 300,000 CNY covering water usage fees, wastewater treatment expenses and other costs.
Key Performance
Annual savings covering water usage fees,
wastewater treatment expenses and other costs
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Noise Management Green Development
The Company strictly complies with relevant laws and regulations such as the Law of the People's Republic
of China on the Prevention and Control of Noise Pollution and the Emission Standards for Industrial
Enterprises Noise at Boundary (GB12348-2008), and has formulated the Noise Control Management Green Production
Procedures to strictly control production noise and minimize the impact on operators, surrounding
residents, and relevant stakeholders.
Development Plan for Green Factories, and strictly follows the principles of factory intensification, harmless raw
materials, clean production, waste resource utilization, and low-carbon energy use. Combined with industry
characteristics, we systematically promote the construction of green factories:
Noise Sources Noise Reduction Measures
Strengthen production and manufacturing
Optimize manufacturing processes
management
select environmentally friendly raw and auxiliary optimize process control, and reduce resource
materials, and adopt advanced applicable consumption and environmental impact during
production technologies and high-efficiency production
energy-saving equipment
• Regularly maintain equipment prone to friction noise and ensure lubrication.
Fixed noise source: • Isolate, soundproof, mute, and absorb noise from key noise-emitting Optimize the factory's energy consumption
Operating noise of Carry out environmental improvement measures
structure
equipment.
production and • Timely repair faulty equipment that generates noise.
auxiliary equipment including waste gas emission reduction treatment, build an integrated PV, storage, charging and
• Prioritize the selection of low-noise equipment. wastewater recycling, and resource utilization and discharging energy management system within
harmless disposal of solid wastes the factory, and increase the proportion of
renewable energy.
• Enhance employees' environmental awareness through promotion to develop
Mobile noise sources: a habit of handling and placing goods gently.
Vehicle operation • Standardize the maintenance and operation of motor vehicles and welding During the reporting period, Qingdao TELD New Energy has obtained the
noise, noise from Green Factory Management System Certificate.
machines.
metal object collisions, • Restrict honking and vehicle speed within the plant area to reduce noise
etc. pollution. Green Factory Management
System Certificate
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Medium- and Long-term Plan for Green Factories Green Office
By 2028, the concept of green development will become a common consensus among the Company's management The Company actively responds to the national call for environmental protection, promotes the concept of green
and employees; green manufacturing will grow into a new engine for the Company's growth and a new competitive office, and integrates resource conservation and low-carbon environmental protection into daily office and life, leading
advantage in international market; and the overall level of green development will be significantly enhanced the construction of ecological civilization through practical actions.
Post energy-saving reminders in prominent areas of the office, set air conditioning
temperatures in a scientific manner, and turn off air conditioners and lighting equipment
Foundational Period · Cultural Leapfrog Period · Green Leading Period · Holistic Electricity
Management promptly after work
Consensus Engine Enhancement
Core Theme: Concept Core Theme: Technology-Driven Core Theme: Sustainable
Embedding and System Competitiveness Leadership and Industrial
Construction Empowerment
• Create "zero carbon" or Implement waste sorting management, establish dedicated battery recycling points,
• Establish an ESG/Green "near-zero carbon" • Be included in the national-
Waste ensure proper disposal of hazardous wastes, and enhance resource recycling rates
Committee, incorporating production demonstration level Pilot
Management
management KPIs as workshops. Factory/Lighthouse Factory
mandatory indicators. list.
• Increase the share of
• Implement "Green renewable energy to 20%. • Establish green supply chain
Craftsman" training and standards, driving carbon
• Boost revenue from green
incentive programs for all reduction across upstream
products (EPD-certified) with Advocate for paperless office practices, fully utilize the internal OA (Office Automation)
employees. and downstream industries.
significant growth, breaking
• Obtain ISO 14001 through green trade barriers. • Achieve unit output energy system, encourage the use of electronic signatures and online approval processes, and
environmental management consumption and carbon Paperless
reduce paper consumption
system certification, emissions at international Office
upgrade, or be selected as a peer-leading levels.
national-level green factory.
Circular Economy
Green Logistics
The Company actively builds a circular economy development model, covering key links such as logistics,
The Company is advancing the electrification transformation of production equipment in its internal factory logistics raw materials, energy, and product design and manufacturing. We realize efficient resource utilization and
and accelerating the construction of a green logistics system. Currently, non-road mobile equipment including forklifts, low-carbon development through full-chain closed-loop management, injecting solid impetus into the
transport flatbed trucks, and stackers in core operational areas such as production workshops, finished goods sustainable development of the enterprise.
warehouses, and component assembly zones have gradually been replaced with electric-powered equipment. This
marks substantial progress in the Company's efforts to build a low-emission, high-efficiency logistics system.
Distribution of Production Line Electric Storage and Logistics Forklift Workshop Finished Products Park Area Finished Products Transfer
Materials by AGV (Automatic Guided Transfer
Vehicle)
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Circular Packaging Materials Energy Circulation
The Company fully promotes circular replacement solutions in the logistics packaging segment. For the transportation The Company has upgraded the waste heat recovery system for the powder
of core components such as charging guns, non-metallic materials, and printed circuit boards, we adopt reusable coating production line. By recovering waste heat from the flue gas of
turnover pallet and logistics boxes to replace traditional single-use cardboard boxes. For plate-type materials, we use drying ovens and supplementing it with electric heating, the system
recyclable steel pallets instead of traditional wooden pallets, significantly reducing the generation of packaging waste. provides hot water heat source for tank liquid heating. The degreasing tank
and phosphating tank adopt internal and external heat exchangers for
In response to issues such as waste, high carbon emissions, and persistently high indirect heating respectively, and each tank is equipped with an automatic
costs associated with single-use wooden pallets, the Company has collaborated temperature control system to achieve rapid temperature rise and precise
with core suppliers to optimize packaging solutions. By replacing traditional single- temperature control. Through the recycling and utilization of waste heat
Waste Heat Recovery System
use wooden pallets with recyclable steel pallets, the Company has established a resources, this system effectively reduces energy consumption and carbon
closed-loop operation model of "delivery - use - return for recycling - cleaning and emissions in the production process, promoting cleaner production.
reuse". This initiative is expected to reduce the consumption of single-use wooden
pallets by over 6,000 units annually, cut repetitive procurement costs by 900,000
CNY, and effectively reduce timber resource consumption and carbon emissions, Circular Design Concept for Products
achieving efficient resource circulation and green collaboration across the supply
chain. TELD has innovatively developed a Zhengcheng 7kW intelligent AC charging terminal. The product adopts recyclable
PC+ABS5 engineering plastics in replacement of traditional metal materials, eliminating high-energy-consuming
We replace the disposable paper packaging used for shipping the non-metallic
processes such as welding and spraying, and enabling recyclable regeneration of materials. Meanwhile, through part
casing panels of our charging equipment with reusable metal shipping tools. This
standardization, selection of long-life components and environmentally friendly parts compliant with RoHS standards
change not only improves operational efficiency but also significantly reduces the
(EU Directive on the Restriction of the Use of Certain Hazardous Substances in Electrical and Electronic Equipment),
use of paper packaging and wooden pallets, saving 13 tonnes of packaging paper
we effectively extend the product service life, building a full-life-cycle closed loop from green design and low-carbon
and approximately 1,380 wooden pallets annually.
manufacturing to recycling and regeneration, which supports the transformation of charging infrastructure to a
circular economy model.
Metal Shipping Tool
Circular Raw Materials
To enhance the green recycling level of raw materials, the Company has established a circular management system
covering the entire lifecycle of copper busbar materials. During the production and processing phase, by configuring
specialized collection devices and implementing the operating mechanism of "real-time collection, daily clearance and
settlement", 100% recovery of waste materials generated during copper busbar processing is ensured. Meanwhile, we
have signed the Waste Recycling-Regeneration Collaboration Agreement with core suppliers to facilitate the recycling
and remelting of waste materials into new copper busbars that meet national standards. After passing third-party Zhengcheng 7kW Intelligent Charging Terminal
quality verification, regenerated copper busbars are reintroduced into the procurement and production process,
thereby reducing raw material consumption and waste generation, and providing a replicable practical approach for Cultivation of Environmental Awareness
the green circular transformation of the industrial chain.
The Company regularly organizes systematic environmental protection training courses to continuously strengthen
employees' environmental awareness and professional competence. Tailored to the Company's actual production and
operations, the training content focuses on interpretation of environmental laws and regulations, common pollution
prevention and control measures and emergency response methods, and source pollution and emission reduction. We
clarify environmental responsibilities for each position, promote the concepts and practical skills of energy
conservation, emission reduction, and green production, and share advanced cases and lessons learned in
environmental management. This ensures that employees deeply understand the concept of sustainable development
Circular System Covering the Entire Lifecycle of Copper Busbar Materials and master the practical environmental protection skills required for their positions.
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Innovation Leading the
Way: One Step Ahead,
Leading All the Way
? R&D Innovation
? Intellectual Property Protection
? Enterprise Digital Transformation
? Intelligent Upgrading of Products
Our response to UN SDGs
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R&D Innovation
Governance
The Company has developed a series of management systems including the Product Development Procedure and
Product Development Review Management Standards, and established the R&D management system that covers the
entire product lifecycle. We have defined standardized processes from innovative concepts to mass production of
products, clarifying control requirements and review standards for each key milestone. The Research Institute, as the
leading department of the R&D governance system, is responsible for overseeing the overall process of product
development and ensuring the efficient advancement of R&D projects. The Company attaches great importance to
building a robust product manager team, empowering them with management responsibilities for the entire product
lifecycle. These responsibilities cover all aspects from demand analysis, design development to market launch. Based
on this, all relevant departments collaborate efficiently and work in close coordination to form an R&D management
mechanism with standardized processes and efficient operations. This continuously enhances the Company's R&D
technical capabilities, drives product innovation and iteration, and boosts market competitiveness.
Empowering R&D Innovation
Strategy
The Company attaches great importance to the cultivation of an R&D talent echelon, and has established a multi-
TGOOD continues to implement an innovation-driven strategy. While consistently consolidating its technological dimensional, tiered technical talent development system. The Company continues to carry out professional
advantages in existing businesses to ensure long-term technology leadership, the Company maintains a commitment competency training through platforms such as the "Leading Innovation Forum", promotes the evaluation and
to ongoing innovation. The Company pioneers new technologies for data center power supply systems and certification of professional technical titles, and strengthens technical collaboration and experience inheritance. In
autonomous vehicle charging, while continuously strengthening its capabilities in smart manufacturing. 2025, the Company organized the "Smart Navigation · Knowledge Challenge", attracting more than 120 participants.
Throughout the year, the Company conducted 34 special training sessions covering product learning, professional
At the end of each year, the Company formulates a special plan for new product development and the iteration and skills, etc., to enhance the comprehensive capabilities of the R&D team. In addition, the Company implemented the
improvement of existing products for the upcoming year, in combination with market demands and technological "Wild Goose Program", focusing on cultivating the strategic thinking and project management capabilities of R&D
development trends, and clarifies the fund-raising plan for R&D based on this plan. management talents.
R&D Platform
As one of the first batches of "National Manufacturing Category Enterprise“ recognized by the Ministry of Industry and
Information Technology of the People's Republic of China, TGOOD has achieved remarkable results in innovation and
intellectual property. The Company has successively been awarded titles such as "National Innovative Pilot Enterprise",
"National Intellectual Property Demonstration Enterprise", and National ‘Little Giant' Enterprise. Furthermore, the
Company has established multiple high-end technological innovation platforms, including postdoctoral scientific
research workstation, national engineering research center, expert workstation, and provincial engineering
laboratories.
Key Performance
As of the end of
the reporting period The Company had a total of 7 high-tech enterprises.
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Driving Industry Development
Case 1 TELD "Special Forces Training Program"
TGOOD actively builds an open and collaborative industrial innovation ecosystem, and continuously advances
In 2025, the Company launched the "Special Forces Training Program (R&D Track)"and a technical expert
technological progress and sustainable development of the industry through in-depth industry-university-research
certification mechanism to systematically select and cultivate high-potential technical backbones. The training
integration, standard leadership and technology open source. The Company has established an in-depth industry-
mechanism follows a four-in-one path of "Product-Technology-Management-Rotation", driven by objective
university-research cooperation network with nearly 100 universities and vocational colleges across the country.
assessment and supported by the "mentorship" model. Experts from various fields take the lead in conducting
Through various forms such as co-building industrial colleges, joint training, internship and practical training, and
technical research and innovation leadership. Currently, the program has recruited and focused on cultivating 6
customized order-based training, we systematically integrate the scientific research resources of colleges and
high-potential new talents for the R&D system, and completed the certification of 18 technical experts. While
universities with the engineering practical capabilities of enterprises, providing solid talent and technical support for
accelerating the transition of new recruits from campus to workplace, the Company has also built a sustainable
R&D and innovation. In 2025, the Company has been selected for the Ministry of Education's Supply-Demand
and orderly R&D talent pipeline, laying a solid talent foundation for long-term business development.
Matching Employment and Education Project for three consecutive years.
Innovation Incentives Case 3
Establishment of Prefabricated Substation HVAC Calculation Standards and Support for
Global Business
To fully stimulate the innovative vitality of technical personnel, the Company has established an innovation incentive
In 2025, TGOOD collaborated with Shandong University to conduct research on the heating, ventilation, and air
mechanism that includes systems such as the Innovation Achievement Review and Reward Standards and the
conditioning (HVAC) calculation system and simulation system for prefabricated substations. The two parties
Management Measures for Technical Research and Development Incentives, optimizing the management process of
established dedicated calculation standards for this field, filling the gap in the industry. This achievement enables
R&D outcomes and clarifying project grading standards and reward details. The Company has established a dedicated
precise HVAC configuration for prefabricated substations, which can cover various business scenarios both
growth fund pool and a technology points management system, which closely links the innovative contributions of
domestically and internationally, effectively supporting the Company's global business expansion and
technical personnel to their individual career development. This innovation incentive system has effectively stimulated
standardized product output.
R&D vitality, driven technological breakthroughs, and infused endogenous momentum into the Company's high-quality
development.
Case 4 Breakthrough in the Flexible Building-Electric Vehicle Interactive Energy Technology
Key Performance
In April 2025, TELD, as the leading entity of the research project, participated in the national special project “Key
Technologies and Equipment for Urban Sustainable Development”. In collaboration with Tsinghua University, Hunan
The Company implemented innovation incentive for all employees through multiple channels
University, and other universities, the Company conducted joint research on the flexible building-electric vehicle
including intellectual property rewards, the "Challenge and Breakthrough"project mechanism, and
interactive energy technology, which overcome technical bottlenecks from foundational theories to core equipment. By
In 2025 technology points redemption.
doing so, TELD led industry upgrading, and supported the collaborative low-carbon transformation of the building,
Throughout the year,
transportation and energy sectors.
overed a total of 1,201 participants, with a total amount of 2.7972 million CNY.
Key Technological Breakthroughs in the Testing and Evaluation System for Electrical
Case 5
Contact Materials
Case 2 Artisan and Model Worker Innovation Studio In 2025, Chuankai Electric collaborated with Hebei University of Technology, Tianjin Tianchuan Electric Control
and other entities to conduct research on the " Key Technologies for Performance Testing, Analysis, and
Reliability Evaluation of Electrical Contact Materials", focusing on industry technical pain points such as the
In 2025, relying on the trade union organization, the Company established the "Artisan and Model Worker
imperfect material testing and evaluation system. Leveraging the enterprise's engineering experience and
Innovation Studio", building a platform for skill innovation and talent development. The studio has helped the
universities' theoretical strengths, the project developed a scientific and efficient evaluation scheme. Relevant
Company win a total of 15 honors at the district, municipal and higher levels. The Company has successfully
achievements won the Third Prize of the "Science and Technology Award of Machinery Industry". This not only
applied for the "Shandong Province May 1st Labor Medal", and is actively striving to be recognized as a
enhances the quality and safety of the Company's core components, but also provides technical support for
municipal-level full-staff innovation enterprise. This creates a positive atmosphere that advocates craftsmanship
material selection and application in the industry, facilitating the construction of the New Power System and
and encourages employees to strive for excellence.
high-quality development of the industry.
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The Company actively participates in industry standard development, and is committed to driving the standardized R&D Innovation Achievements
development of the industry through technology output. As of the end of the reporting period, the Company
In 2025, TGOOD continued to focus on power equipment and EV charging network, achieving a series of
contributed to the development of a total of 57 national standards and 28 industry standards, covering core areas
breakthroughs in key technology R&D and high-end equipment manufacturing. Multiple achievements have filled gaps
including power equipment and EV charging, effectively driving the advancement of industry technical standards.
in the industry, providing solid technical support for industrial upgrading and energy transition.
The Company has achieved major breakthroughs in the power equipment segment:
Key Performance
Overseas 33kV string-type energy storage PCS integrated
substation: This product adopts advanced control technology,
As of the end of the
the Company contributed to the development of a total of 57 national which effectively addresses battery degradation and
circulating current issues, extending battery lifespan and
reporting period
standards and 28 industry standards. enhancing system stability. Its high-voltage gas-insulated
switchgear ensures safety and reliability, making it well-
suited for complex overseas grid environments. The energy-
efficient transformer reduces power consumption and cuts
operational costs. With a highly integrated design, the
In 2025, TELD Cloud Platform Technology Open-Sourcing Initiative was officially launched, opening up core substation features a small footprint, easy transportation and
technologies and platform capabilities to industry partners. The first batch of open content under this initiative includes installation, and low failure rate. Its prominent core
the front-end technology framework, low-code development platforms, and the architecture of an internet technology advantages build strong competitiveness for overseas market
platform supporting hundreds of millions of users. In the future, we will gradually open up some business data expansion.
models and standardized API interfaces. Through technology sharing, we will lower the threshold for industry
intelligence and promote the building of an open and collaborative charging network ecosystem.
next-generation power systems, the Company has launched
a new-generation transformer product focused on high
energy efficiency and reliability. It incorporates low-loss iron
cores, fully sealed structures, and refined simulation design,
achieving over 10% lower no-load loss and 5% lower load
loss compared to national standards. The product boasts
outstanding advantages such as strong short-circuit
resistance, low noise, and efficient heat dissipation, making it
widely suitable for scenarios including urban power grids,
industrial parks, and new energy grid connection. Having
passed full-item tests conducted by national authoritative
institutions, the product outperforms industry standards,
delivering both exceptional reliability and cost-effectiveness.
Hualong One domestic 1E-class low-voltage switchgear
assembly: In 2025, the Company independently developed
Hualong One domestic 1E-class low-voltage switchgear
assembly. Covering both AC and DC systems of multiple
specifications, the product meets the stringent safety and
long-service-life requirements of nuclear power. It has
obtained a number of national patents and possesses
complete independent intellectual property rights. This
product marks the first time in China's nuclear power
industry that core components have been fully localized, with
independently controllable design. It successfully breaks
reliance on external key technologies, safeguards the
security of the nuclear power supply chain, consolidates the
Company's technological barriers and market position in the
high-end nuclear power equipment sector, and provides
important support for the independent development of
China's nuclear power industry.
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The Company has innovatively launched industry-leading solutions in high-power ultra-fast charging technology:
Impact, Risk, and Opportunity Management
TELD has innovatively developed a 10kV Medium-Voltage 4MW integrated full-matrix ultra-fast charging station.
Adopting a medium-voltage connection architecture, the product uses a “one-time construction, one-time The Company analyzes the technological risks, market risks, and potential opportunities that may arise in the present
connection, one-time launch” model, reducing the traditional station construction cycle from several months to and future in the R&D fields of high-end electrical equipment and electric vehicle charging, in line with the
just 3-7 days. Its integrated charging and power distribution design achieves extreme integration of “one cabin development trends of the energy and electricity industry. The Company coordinates various aspects of R&D activities
replacing four cabins”, saving more than 43% of land space. In addition, the product is equipped with TELD's new and formulates response strategies to continuously improve the capability of technological innovation.
power distribution architecture and a full-matrix intelligent scheduling algorithm, enabling it to connect up to 64
charging guns simultaneously. This solves the discretization problem caused by increased charging power and
greatly improves equipment power utilization. Equipped with a megawatt-level liquid-cooled terminal, it supports
a maximum single-gun charging power of 2MW and dual-gun charging power of 4MW. Even heavy-duty trucks
can achieve “full charge in 10 minutes”, ushering in an era of “same refueling and charging speed”.
Metrics and Targets
Key Performance Unit 2025
Number of R&D Personnel Person 1,179
Percentage of R&D Personnel % 13.06
Total number of validly authorized patents Item 1,617
TELD has launched the 110kV High-Voltage 100MW Digital Super charging Station, an integrated energy hub
targeting high-power charging scenarios such as heavy-duty trucks. This product has overcome the technical Including: Invention patents Item 295
bottlenecks of grid-level ultra-high-power charging and intelligent dispatching. Adopting a high-voltage direct-
Utility model patents Item 1,104
drop architecture and modular design, it achieves 100MW-level power output. Through integrated design, it
combines fully domestically developed AI charging modules and intelligent operating system, highly integrating
Design patents Item 218
power transformation, distribution, charging, energy storage and intelligent management. It supports
millisecond-level response and efficient coordination for over 200 terminals, providing a flexible and reliable Software copyrights Item 458
green charging hub for scenarios such as heavy-duty trucks and mining operations. This product has achieved an
industry breakthrough in voltage level, directly connecting to the 110kV high-voltage grid to effectively reduce Trademarks Item 337
power transmission and distribution losses. Meanwhile, with its highly integrated modular design, compared with
traditional power station solutions, it saves 60% of floor space, shortens the construction cycle from several Published papers Item 44
months to weeks, reduces comprehensive costs by approximately 50%, and features capabilities of overall
National standards that the Company Item 57
relocation and flexible expansion, effectively filling the technical gap in this field in China.
participates in development
Industry standards that the Company Item 28
participates in development
Total amount of innovation incentives 10,000 CNY 279.72
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Topic Appendix
Report Message Profile in 2025 Culture Milestones Governance Development Leading the Way First Centric
Intellectual Property Protection
TGOOD attaches great importance to intellectual property protection and compliance management, and is
R&D Target committed to building a systematic and standardized intellectual property management system. We strictly abide by
laws and regulations including the Patent Law of the People's Republic of China, the Trademark Law of the People's
Republic of China, and the Copyright Law of the People's Republic of China. The Company has formulated internal
In the power equipment sector, in response to the construction needs of next-generation power systems, the systems such as the Intellectual Property Management Standards. We clarify the division of responsibilities of the
Company has set annual R&D and innovation goals centered on "integrated innovation through primary and intellectual property management organization, and standardize the entire management process from application,
secondary equipment integration, cost optimization via standardization and modularization, and product registration to modification. In 2025, in line with the Enterprise Intellectual Property Compliance Management
digitalization and full-lifecycle management". In the EV charging network sector, the Company focuses on the System - Requirements (GB/T 29490-2023), we systematically established and continuously improved the
layout of core products such as high-power charging equipment and automatic charging terminals, and intellectual property compliance management system, forming a documented framework covering intellectual
continuously iterates technical solutions to comprehensively enhance the market competitiveness of its property policies, objectives, management manual and procedure documents.
products; Meanwhile, relying on full-process data collection of charging and discharging and AI intelligent
analysis, the Company has built a real-time identification system for the electrical health status of vehicles, so As of the end of the reporting period, TELD, Chuankai Electric, Qingdao TELD New Energy and other entities have
as to comprehensively improve the intrinsic safety level and intelligent operation capability of the charging obtained the Intellectual Property Management System certification.
system.
R&D Investment Target: Progress of R&D Investment Target
The Company has set clear R&D
In 2025, the R&D expenditure amounted to 554 million
investment targets, with annual R&D Intellectual Property Management System Certificates
CNY.
investment of no less than 3% of
Over the past three year 1.4 billion CNY, the cumulative The Company implements classified management and tiered evaluation of intellectual property based on key metrics
operating revenue. such as technological advancement, scope of application, and legal value, by comprehensively reviewing patent value,
R&D investment has exceeded.
technological layout, and market application prospects.
In 2025, the R&D investment accounted for over 3% of In key areas such as project R&D, product development, and market promotion, the Company conducts systematic
operating revenue. intellectual property investigations and evaluations, combined with regular searches, analysis, and new product
reviews, to comprehensively identify potential infringement risks and ensure compliance with business activities. For
authorized patents and trademarks, we have established a regular infringement monitoring mechanism to track market
trends in real time, promptly identify and effectively address potential infringement risks, thereby safeguarding the
legitimate rights and interests of our intellectual property.
In response to infringement acts, we take proactive measures by setting up a special emergency team consisting of
the intellectual property management department, legal department and other relevant departments and personnel.
The team conducts joint comparative analysis, investigations and evidence collection, formulates response strategies
based on risk assessments, and employs legal means when necessary to protect our intellectual property rights and
safeguard our legitimate rights and interests.
The Company regularly organizes training sessions for employees in relevant departments to study intellectual
property laws and regulations. Combined with practical cases, it explains the criteria for determining infringement and
legal consequences, shares strategies for intellectual property protection and measures to resolve infringement
disputes, helps employees understand risk prevention methods in their daily work, and effectively enhances
employees' awareness of intellectual property protection.
During the reporting period, the Company did not experience any incidents of infringing on others' intellectual
property rights or having its own intellectual property rights infringed.
About This Chairman's Company Performance Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
Report Message Profile in 2025 Culture Milestones Governance Development Leading the Way First Centric
Enterprise Digital Transformation Digital Transformation of Integrated Services
• Build the capability of end-to-end integrated digital dashboards, covering dimensions such as revenue,
Four Calculations (estimate, budget, accounting, final accounts), production and sales collaboration, and
Three-Year Digital Blueprint key issues.
• Through the digital linkage of "Construction Plan - Material Plan - Material Warehousing - Material
The Company is accelerating the advancement of its enterprise digitalization initiative and has formulated a Three- Issuance", realize the alignment between project budgets and actual consumption. Relying on the functions
Year Digital Blueprint. Focusing on the in-depth integration of business, finance, incentives and data, the Company is of "automatic material feeding" and "transferable surplus materials", improve efficiency, avoid material
committed to building an end-to-end value chain and a digital platform covering the full product lifecycle. In 2025, the waste and capital occupation;
Company achieved its "Excellence" strategic goal.
• Continuously optimize Four Calculations Control, realizing the transformation from "financial results" to
Following the three-step approach of informatization, digitalization and intellectualization, the Company has built the "profit starting point", from "total amount control" to "granular control", and from "partial control" to "full
foundation for TGOOD's full-scenario digital capabilities, and gradually realizes the enterprise digitalization goals of coverage";
"informatization reflects the essence of business, digitalization empowers business value enhancement, and
intellectualization comprehensively improves operational efficiency". • Build the capabilities of contract templates and engineering price caps for engineering procurement. The
contract template function can shorten drafting time by more than 50% and signing cycles by 50%,
significantly improving procurement efficiency;
Digital Transformation of Smart Manufacturing
• Establish an end-to-end construction project document management system, driving the transition from
traditional manual document preparation and manual data aggregation to an intelligent system based on
• Continue to promote raw material inventory optimization, and establish a closed-loop digital inventory project management and automated generation of basic database. This reduces the time required for
system covering pre-event, in-process, and post-event stages through measures such as standard document management per project by 30 days. Currently, approximately 75% of documents are
formulation, demand forecasting model construction, automated execution and real-time early warning automatically generated, aggregated, and archived.
mechanisms, and key indicator monitoring;
• Deeply optimize the application of the MES (Manufacturing Execution System), achieving a 21% increase in
production capacity, a 52% reduction in work-in-process inventory, and a 40% reduction in material return Digital Transformation of Group Departments
cycles;
• With a model library as the core business capability, combined with production scheduling rule constraints • Establish digital capabilities for capital operation: Based on project milestones and operation status, realize
and algorithm-driven scheduling, build an interactive intelligent planning and scheduling system covering rolling forecasts of accounts receivable, accounts payable, collection, and payment, and build a project-
the entire process, achieving an on-time start rate, material completeness rate, and on-time shipment rate level full-process capital operation system that is predictable, traceable, and closed-loop;
all exceeding 90%;
• Establish digital capabilities for AI-based bidding documents: Through natural language processing (NLP),
• Leveraging AI capabilities, build an intelligent design platform centered on modular configuration, which big data analysis, and knowledge base construction, build an intelligent agent model for bidding
automates the entire workflow from customer drawings to the generation of product bills of materials documents, achieving over 50% reduction in bidding document preparation cycle, 75% savings in costs of
(BOMs). Simultaneously, through lean manufacturing principles, achieve precise alignment between image-related consumables, and 70% reduction in comprehensive cost of bidding document preparation
engineering BOMs and processes, laying the foundation for personalized customization capabilities of the per project;
smart factory. The AI-designed efficiency has improved by over 50%, and AI-powered automatic drawing • Continuously optimize CRM capabilities: By deepening the implementation of core modules such as
recognition accuracy has reached 96%. business opportunity management, collaborative allocation, and abnormal project control, transform CRM
from a "record-keeping" information system into a "data-driven" digital system;
• Leveraging AI technology, develop an intelligent automated work assignment platform centered on optimal
resource allocation. This platform automates the assignment of design, procurement, production, and after- • Based on AI capabilities, continuously enhance digital quality management capabilities, and launch a digital
sales tasks for projects, ensuring optimal cost control while maintaining delivery schedules. platform covering partial processes on the supplier side, after-sales side, and engineering side, realizing
automatic quality traceability with an accuracy rate of over 85%.
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Outcomes of Digital Transformation
Digital Twin and AI-Driven Quality
Full-Process Integration Management
Based on factory-level digital twin technology, the Company has built a multi-level real-time mapping system The Company has deployed a multimodal AI quality inspection system. Combined with image recognition and
covering "equipment-production line-workshop". Through heterogeneous model integration and industrial big intelligent traceability technology, it achieves an online defect detection rate of 99%, a 50% improvement in
data analysis, it achieves continuous optimization of production and operations. Currently, the Company's
quality traceability efficiency, a 32% reduction in quality costs, and an 84% drop-in defective product rate.
West Coast Base has optimized equipment utilization by 15% and improved energy efficiency by 20% via the
digital twin platform.
Parametric Design and Awards and
Process Integration Recognitions
In the R&D and design phase, the Company innovatively applies parametric engines and design rule bases to In September 2025, the Company was successfully selected for
enable rapid design and process collaboration for products such as transformers, copper busbars, and the "Excellence-Level Smart Factories “ assessed by the
prefabricated cabins, realizing the "design-to-production“ model. At present, the parametric design cycle for
Ministry of Industry and Information Technology (MIIT).
new energy medium-voltage prefabricated substation has been shortened from 14 days to 3 days, and the
design error rate has been reduced by 80%.
As of the end of the reporting period, Qingdao TELD New
Energy has obtained the Artificial Intelligence Management
System Certification and Digital Transformation Management
System Assessment.
Intelligent Logistics
and Flexible Manufacturing
The Company adopts advanced logistics equipment such as AGV cluster scheduling and automated storage
and retrieval systems, combined with dynamic path planning algorithms, to realize fully unmanned
warehousing and distribution across the entire process. Currently, through collaboration between AGVs and
RGVs (Rail Guided Vehicles) in the new energy oil-immersed transformer production line, the on-time rate of
material delivery reaches 98%, and the line changeover time is reduced by 75%. Artificial Intelligence Management System Certificate
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Intelligent Upgrading of Products Full-Scenario Intelligence Maturity Classification
The Company continuously promotes the intelligent evolution of core products and system platforms. By deeply L5 With full-domain intelligence, self-evolution, and network-level autonomy, the
Fully Intelligent charging network becomes a living ecosystem with self-learning and self-evolution.
integrating artificial intelligence, big data, and Internet of Things (IoT) technologies, we build an intelligent product
Hosting
system with autonomous perception, decision-making, and optimization capabilities, enhancing technological
independence and market competitiveness.
The platform system takes the lead, realizing unmanned operations in specific
L4
Telaijing 2nd-Generation AI Charging Module scenarios. It can automatically handle all operation and maintenance issues in most
Highly Intelligent
Hosting scenarios.
In 2025, TELD officially launched its independently developed Telaijing 2nd-generation AI charging module, marking
the comprehensive evolution of charging modules from traditional power supply equipment to intelligent, digital
"intelligent service units". This product is equipped with China's first fully domestic MCU (Microcontroller Unit) chip
L3 The platform plays a leading role in operation, with related tasks completed
with complete independent intellectual property rights, jointly developed by us and a third-party company. It is the
Conditional under human supervision. In specific scenarios, the platform automatically
first to achieve a 100% localization rate, realizing fully independent controllability from hardware to algorithms.
Intelligent Hosting
completes most of processes.
Through the "cloud-edge-end" collaborative architecture, the product integrates predictive maintenance, intelligent (The Company)
power optimization, high-precision energy efficiency management, and other functions. It is suitable for public
charging scenarios and high-power density scenarios such as heavy-duty trucks, ports, and trunk logistics, meeting
the charging needs of most commercial electric vehicles.
L2 The platform is equipped with data analysis capabilities, but can only provide
Core technological innovation: Partial Automation suggestions, with execution entirely relying on humans.
（Industry average）
AI Operation and Maintenance System
(HELP): Conduct real-time assessment
of equipment health status, realizing Reinforcement Learning Super-
the transformation of the operation and Power Control (RL-SPM):
L1: The platform serves as an informatization tool, with all decision-making and
maintenance model from passive repair Dynamically adjust output
power to enhance the station's Assisted Operation execution completed entirely by humans.
to active prevention, which significantly
reduces operation and maintenance energy output and economic
costs and the risk of operational efficiency.。
interruptions.
At the application level, the platform has formed a product matrix covering different operation modes, including a core
system for self-operated businesses, an empowerment platform for franchise partners, and solutions supporting
Energy Efficiency Indicators: The comprehensive weighted efficiency reaches privatized deployment for independent operators. The three intelligent engines drive a significant improvement in
average failure rate is reduced to 0.0015, demonstrating exceptional Telaijing 2nd-Generation AI Charging Module
environmental adaptability and operational reliability.
"AI Smart Promotion" "Tehuikan“ Unmanned
"AI Operation Steward"
Engine Management System
Conduct real-time diagnosis Realize full-life-cycle Achieve intelligent monitoring
TELD New-Generation Charging Network Digital Platform of core indicators such as management of user and intervention of station
station revenue and efficiency, acquisition, retention, and safety, equipment status, and
In 2025, TELD independently developed the Full-Scenario Intelligent Operation and Management System - New-Generation
Charging Network Digital Platform, which deeply integrates artificial intelligence technology. Upgraded from a traditional realizing automated closed- frequency increase based on on-site order, and initiate
informatization tool to a "network-level intelligent agent" with autonomous decision-making, self-learning and self-evolution loop disposal; user portraits; proactive intervention.
capabilities, the platform systematically addresses core challenges faced by large-scale charging networks in terms of
business sustainability, operational complexity, safety risk management, and lean management.
With intelligence as the core design concept, the platform deeply applies AI technologies to build a super intelligent agent
with self-learning, self-decision-making and self-optimization capabilities. Based on the five-level classification of full- The new-generation charging network digital platform aims to empower operators through comprehensive digital and
scenario intelligence maturity, the platform has achieved L3 - conditional intelligent hosting in specific scenarios. TELD also intelligent capabilities, helping them achieve strategic goals including optimized operational cost, controllable safety
plans to become the industry's first charging network platform operator with L4 - intelligent operation capabilities, and risks, synergistic energy value-add, and enhanced user experience. This drives a paradigm shift of the charging
ultimately build a fully-scenario intelligent L5 charging network.
industry from scale expansion to high-quality, sustainable development.
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Topic Appendix
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Putting People First:
Promoting Collaborative
Development
? Employee Recruitment and Interests
? Employee Care and Benefits
? Employee Training and Development
? Occupational Health and Safety
Our response to UN SDGs
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Employee Recruitment and Interests
Compliant Employment Diversity and Equality
TGOOD is committed to maintaining a fair and transparent recruitment environment. The Company has established a The Company upholds an open, inclusive, and diverse talent philosophy, cultivating employee potential through
series of internal systems, including the Human Resource Management Procedure and the TGOOD Internal Referral mechanisms such as internal promotion and job rotation. The Company has established a sound anti-discrimination
Management System. This year, the Company revised the TGOOD Employment Management Measures, the TELD
management system, and formulated systems including the Human Resource Management Procedure and the Gold
Recruitment Management Measures, and the TELD Separation Management Measures, continuously improving its
human resources management system. Clear guidelines have been set for the entire employment cycle—from Medal Interviewer Handbook, to ensure fairness and inclusivity throughout the recruitment process. Relying on the
recruitment and hiring to separation—to ensure compliance at each stage. The Company signs agreements with "Interviewer Cloud Classroom“ online platform, the Company enhances interviewers' professional competence and
retired rehired personnel and purchases commercial insurance for them, comprehensively safeguarding their clearly prohibits any discriminatory questioning based on gender, race, religious belief, or other factors, effectively
legitimate rights and interests. The Legal and Risk Control Center is responsible for managing labor-related risks, while safeguarding equal employment opportunities for all candidates.
relevant departments form incident handling teams to conduct thorough investigations and communications regarding
labor disputes. Any identified management irregularities are promptly rectified. This year, TGOOD recorded no In key areas such as recruitment, compensation and benefits, and competitive advancement, the Company applies
instances of discrimination, harassment, forced labor, or child labor, nor did it experience any major labor disputes. consistent and transparent standards. Regular communication and training sessions are provided to human resources
In recruitment practice, TGOOD adopts a multi-channel strategy, combining external avenues such as designated job and management teams to strengthen anti-discrimination awareness at the source and effectively prevent
portals, job fairs, and campus recruitment events with an internal referral program that offers cash incentives to discriminatory behavior.
employees who recommend qualified candidates. The Company conducts both campus and social recruitment in a
standardized manner, adhering to a merit-based selection principle. At the same time, relying on a digital talent
management system, the Company precisely screens and evaluates applicants, implements a diversified talent
approach, and builds a dynamic talent ecosystem.
Key Performance
This year the Company created employment opportunities for more than 1,000 individuals,
contributing to overall social employment stability.
Case1 University-Enterprise Collaboration Project
TGOOD continues to optimize its university-enterprise
collaboration network, focusing on deep engagement
with 49 partner institutions under targeted cooperation
agreements. The Company strengthens its employer
brand and was successfully selected for the Ministry of
Education's Employment-Oriented Talent Development
Program in 2025. Over the past two years, the Company
has cooperated with 25 schools on enterprise visits and
job expansion, Party building, internships, and training,
hosting nearly 30 on-site events for over 1,500 students
and online activities reaching about 250,000 college
students. In addition, TGOOD has established "TGOOD
Scholarship and Grant“ programs at institutions
including Shandong University, and built long-term,
stable cooperative relationships with key universities
such as Harbin University of Science and Technology and Qingdao University. This has gradually formed a close,
collaborative talent cultivation model between the Company and its partner schools.
About This Chairman's Company Performance in Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
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Employee Care and Benefits
Employee Benefits Case2 2025 TGOOD Group 5th Collective Wedding
TGOOD actively fosters a warm and harmonious work atmosphere, building a multi-dimensional employee welfare
In 2025, the 5th TGOOD Group Collective Wedding was held in the Lighthouse Building of the Super-class Zero-
system to enhance employees' sense of belonging and well-being. The Company strictly complies with relevant laws
and regulations, safeguarding basic rights and benefits such as social insurance and housing provident fund. The Carbon Building, where 19 couples embarked on their new lives amid a green and low-carbon atmosphere. Now
Company has formulated the Employee Welfare Management System, providing universal benefits for all employees, in its fifth edition, the collective wedding has become a hallmark of the Company's "Happiness Culture". This
including holiday gifts, quarterly allowances, annual health check-ups, and monthly birthday care. In addition, tailored initiative not only highlights TGOOD's deep care for employees but also strengthens emotional bonds between
benefits are offered to meet diverse needs, such as relocation subsidies, reimbursement of interview expenses, the Company and employees' families, fostering stronger team cohesion and shared identity.
rewards for outstanding employees and innovation, and support for on-the-job further education. This year, in
accordance with the Measures for Public Holidays on National Annual Festivals and Memorial Days issued by the
General Office of the State Council, the Company revised the Employee Attendance Management Regulation to fully
safeguard employees' rest entitlements and protect their physical and mental health.
To enrich employees' leisure time, the Company actively cultivates a vibrant community culture by running 12 regular
employee interest clubs, including badminton, hiking, and frisbee. This year, the clubs organized over 260 activities,
with participation exceeding 1,200 employees, effectively promoting physical and mental well-being and strengthening
team cohesion.
Key Performance
The 5th Collective Wedding
This year
community culture by running 12 regular employee，the clubs organized over 260
activities, with participation exceeding 1,200 employees Case3 Family Open Day
To strengthen corporate culture and talent team development, in July 2025, the Integrated Business Division held
Case1 The 2nd "TGOOD Cup“ Staff Badminton Tournament a Family Open Day under the theme Salute to the Strivers · Light Up Our Homes. Sixteen families of expatriate
employees were invited to visit the headquarters. Activities included welcome speeches, recognition awards,
In June 2025, the 2nd "TGOOD Cup“ Staff Badminton Tournament was successfully held in Laoshan District. exhibition hall tours, and group family photos, successfully creating a three-way interactive platform among
Organized by the Laoshan District Federation of Trade Unions and hosted by the TGOOD Labor Union, the event employees, their families, and the Company, and advancing the cultural vision of shared prosperity between
brought together nearly 300 players from 35 enterprises and public institutions. By using sports events as a link, home and enterprise.
the Company built a regional exchange platform for employees, enriching their cultural and recreational life.
The "TGOOD Cup"Staff Badminton Tournament Family Open Day
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Care for Female Employees Compensation and Performance
TGOOD continuously enhances its care system for female employees through institutional guarantees, improved
TGOOD adheres to the concept of "Focusing on value creators" and has built a competitive incentive and development
benefits, and career development support, working to build an inclusive and supportive workplace. We have
system. We offer attractive compensation and diversified allowances, establish profit-sharing mechanisms spanning
formulated and issued the Board and Employee Diversity Policy, placing emphasis on the development of female
the entire business chain. We also implement equity incentives and employee stock ownership plans to achieve shared
talent and offering long-term growth opportunities to female employees. Statutory rights such as antenatal check-up
success between employees and the Company.
leave and breastfeeding breaks are fully implemented, with an additional 60 days of paid maternity leave provided for
pregnant employees. We reserve dedicated seats for pregnant employees on shuttle buses and set up "Mom Care The Company has established a robust performance management system that cascades strategic goals down to each
Rooms" to effectively address the practical needs of female employees during special periods. individual. Monthly and annual reviews blend qualitative and quantitative approaches, and the outcomes directly
inform performance-based rewards and personal growth plans. We also maintain open channels for feedback and
This year, the Company organized a range of activities for female employees, including floral arrangement classes,
appeals, ensuring assessments remain fair and transparent.
traditional Chinese medicine consultations, cervical and breast cancer screenings, the "Women Pioneers" recognition
program, and a seminar on Career Growth and Development for Women. These initiatives support women's physical
and mental well-being as well as their career progress, effectively enhancing their sense of belonging and happiness.
Employee Communication
TGOOD regards open and transparent communication as a cornerstone of corporate governance. Through
institutionalized democratic management and diversified feedback channels, the Company has built an efficient
employee communication system that continuously strengthens organizational cohesion and employees' sense of
Case4 The First "Women Pioneers" Recognition Program
belonging.
To honor the outstanding contributions and exemplary leadership of female employees, TGOOD launched its Diversified Communication
inaugural "Women Pioneers" award recognition program on the occasion of the 2025 International Women's Day
(March 8). A total of ten exceptional female employees were recognized for their outstanding performance. This
initiative affirmed the professional competence and sense of responsibility of female employees, further fostering The Company has established a A systematic "offline + online" The Company has established
an organizational culture that respects and cares for women. democratic management communication channel and continuously improved the
system centered on the framework has been developed. Employee Issue Feedback
Workers' Congress, holding Offline, the Company operates Closed-Loop Mechanism.
regular meetings to review the "TGOOD Heart-To-Heart Collected suggestions are
rules, regulations, and major Communication" Party regularly summarized,
decisions affecting employees' Representative Studio and categorized, analyzed, and
interests. This process public notice boards, and evaluated. Feasible proposals are
incorporates broad employee maintains open factory affairs incorporated into specific action
input, fully safeguarding their disclosure, alongside regular plans with progress updates
rights to be informed, to Party representative reception made public; where
participate, and to supervise, days and "Sunshine Complaint implementation is not
thereby enhancing the Sessions". Online, the "Voice of immediately possible, clear
scientific rigor and Employees" digital platform explanations are provided. This
transparency of decision- allows immediate submission mechanism effectively improves
making. and rapid response to management efficiency and
employee concerns. strengthens employees' sense of
The "Women Pioneers" Award Recognition Program ownership.
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Employee Satisfaction Surveys
Employee Training and Development
The Company has established a regular employee satisfaction survey mechanism to gain deeper insight into employee
needs and genuinely improve their work experience and satisfaction. This year, an anonymous online questionnaire
was distributed to all employees, covering multiple dimensions including office facilities, company policies,
compensation and benefits, and work teams. The survey result showed an overall employee satisfaction rate of 100%.
Based on the survey results, the Company formulated and implemented targeted improvement measures, responding
Employee Training
proactively to employee feedback.
The Company adheres to a talent-driven development strategy and upholds the principle of "focusing on strategy and
supporting business operations". The Company has established a layered and categorized training system covering all
employees, integrating digital learning resources. This provides solid support for both employees' career growth and
the Company's sustained success.
Employee Care
The Company has formulated and implemented policies including the TGOOD Group External Training Management
Measures for TGOOD Group Employees, the Training Management Standards, and the TGOOD Group Internal
The Company upholds the "people-first“ development concept by establishing institutionalized and regular support Instructor Management System. These define three core training streams—management, professional, and general—
mechanisms for employees facing family difficulties. An Employee Care Task Force has been set up to provide and establish an internal instructor selection and evaluation mechanism to build a high-quality teaching team,
hardship relief funds to eligible staff, and to organize the "Grateful for You, Walking Together in Warmth“ outreach ensuring the standardization and professionalism of the training system.
campaign. This initiative visited four employee households affected by disabilities or serious illnesses within their
Keeping pace with digital trends, the Company launches the "TGOOD learning platform", enabling cross-regional
families, delivering essential living supplies and conveying genuine care and support from the organization.
resource sharing. Aligned with corporate strategy and business needs, the platform features five specialized
academies—General Competency, Smart Manufacturing, Professional Development, Leadership Innovation, and
Excellence Exploration—integrating high-quality internal and external resources to create a closed-loop learning
ecosystem from demand analysis to impact evaluation. In addition, the Company has introduced the TGOOD Training
Operations Officer Management Mechanism and formed a digital operations officer team. Leveraging AI technology
and a points-based management system, the team powers platform operations and continuously enhances the
effectiveness and user experience of online learning.
In line with the "high quality, low cost, high efficiency“ strategy, the Company has rolled out customized training
programs tailored to different positions and levels:
Type Program Content
Campus Recruits Adopt a step-by-step path of "Bootcamp - Field Experience - On-the-Job Stage",
Training combining culture integration, rotation, and mentor support to speed up role
transition and build future mid-to-senior talent pipelines.
General
Capability
Social Hire Newcomers Provide a 180-day structured onboarding plan, with phased induction guidance,
Onboarding essential knowledge learning, and role-specific training, supported by digital
platforms and buddy mentoring to enable quick integration and job readiness.
Holistic Capability Identify competency gaps via assessment; use group learning, project task forces,
Enhancement for and coaching to strengthen cross-functional collaboration and professional depth.
Product Line Managers
Professional Marketing Managers Combine diverse courses, business simulations, plant tours, and mentor guidance
Capability Training to build a closed-loop system, enhancing professional knowledge and practical
execution.
Capability Enhancement Focus on role transition, on-site management, and teamwork through a three-stage
for Team Leaders learn-and-do model: self-management, team management, and hands-on drills.
Leadership "Eagle Soaring“ Talent Comprise three sub-programs: Rising Eagles, Elite Eagles, and Flying Eagles;
Development Program achieve precise and differentiated empowerment via university study, rotations,
and project practice.
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Case1 TGOOD University Online Academy Case4 Holistic Capability Enhancement Program for Product Line Managers
As the Company's core internal e-learning platform, TGOOD University Online Academy completed resource From the perspective of product line managers, the Company initiated the holistic capability enhancement
optimization and a full functional upgrade this year. The platform now hosts 5,232 courses, with 235 new multi- program for product line managers, centered on critical business challenges. The program adopts a dual-track
module courses, 90 sets of assessment questions, and 43 newly added learning maps. Throughout the year, 723 model of "skill courses + practical case sharing", emphasizing the integration of training and application while
exams were conducted, with a cumulative participation of 12,167 employees. delivering high-quality empowerment. Through coaching and guidance, it accelerates the implementation of
improvement initiatives, swiftly converting training insights into business execution capabilities. This facilitates the
efficient flow and maximizes the value of business experience within the organization.
Case2 12th "Special Forces“ Development Program
From July 2025 to July 2026, TELD implemented the 12th "Special Forces“ Development Program, targeting 57
campus recruits. The program features phased team bonding and integration, solidification of professional
knowledge, and departmental internships, systematically helping new graduates integrate quickly and build job
competence, while reserving core talent for the Company's future mid-to-senior management teams.
Holistic Capability Enhancement Program for Product Line Managers
Case3 Holistic Capability Enhancement Program for Team Leaders
To strengthen the core competencies and professional skills of frontline team leaders, the Company launched the
team leaders empowerment program. The program focuses on frontline operational challenges and pain points,
leveraging mentorship approach to fully harness team leaders' role as pioneers and front runners. This ensures
that training insights are translated into daily actions, advancing the Company's strategic goals of "high quality,
low cost, and high efficiency".
Holistic Capability Enhancement Program for Team Leaders
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Employee Development
Occupational Health and Safety
The Company follows the talent philosophy of "precise recruitment and empowering growth", and upholds the
principles of fairness, justice, and transparency in promotion. The Company has implemented the Employee Position
Promotion Management System, which establishes scientific standards for job levels and promotion criteria,
standardizing the entire promotion process.
Governance
The Company has established a dual-track career development system for both management and professional roles, The Company strictly complies with the Work Safety Law of the People's Republic of China and other relevant laws
allowing employees to freely choose their growth path according to their strengths and interests. The management and regulations, and has established internal systems such as the HSE Manual, the Occupational Disease Prevention
track focuses on building a talent pipeline, aiming to create a high-quality reserve pool and provide a growth platform and Control Management Procedure, and the Personal Protective Equipment Management Procedure, covering every
for young, high-potential, and high-caliber individuals, thereby enhancing the overall capability of the organization. aspect of occupational health and work safety management. A Work Safety Committee has been set up to lead and
The professional track is designed to meet the growth needs of employees in professional roles. It clearly defines coordinate safety-related activities, comprehensively safeguarding employees' lives and property. To further improve
promotion pathways for different function categories, refines job grade granularity, and increases opportunities for occupational health and work safety management, the Company carries out third-party certification audits, conducting
promotion, offering employees a clear and diverse space for professional growth. thorough reviews and assessments of its occupational health and work safety management system. As of the end of
the reporting period, the Company and its subsidiaries had obtained ISO 45001 Occupational Health and Safety
Management System certification.
Occupational Health and Safety Management System Certificate
The Company always prioritizes work safety, establishing a comprehensive work safety responsibility system. The
Company has formulated the Work Safety Responsibility List to clarify the safety responsibilities of management
personnel and employees at all levels. By signing the Work Safety Responsibility Agreement, the Company implements
work safety management objectives and closely aligns the achievement of these objectives with the reward and
punishment mechanism. This ensures that employees understand and fulfill their respective primary responsibilities for
work safety, creating a network for occupational health and safety management that involves all employees.
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Strategy Impact, Risk, and Opportunity Management
TGOOD places great emphasis on employees' occupational health and safety. The Company organizes regular The Company strictly adheres to relevant national laws and regulations, actively conducting systematic risk
occupational disease screenings, establishes health monitoring files for employees exposed to occupational hazards, identification and assessment. A comprehensive review of the physical work environment, occupational hazards, and
and promptly identifies potential risks, effectively preventing and controlling the occurrence of occupational diseases. behavioral risks have been carried out, and a series of targeted preventive measures have been developed. At the
In addition to medical examinations, a range of comprehensive protective measures are implemented, such as issuing same time, the Company actively seizes new opportunities in industry development, leveraging technological
personal protective equipment and setting up occupational hazard notification cards, to safeguard employees' innovation and equipment upgrades to optimize the working environment, reduce occupational health risks, and
occupational health and safety. enhance employees' safety awareness and emergency response capabilities.
The Company regularly conducts safety inspections and hazard investigations through various methods, including
The Company has established the Management Procedures for Hazard Identification, Risk Assessment, and Control
routine and special checks, to systematically identify potential safety risks. Identified hazards are recorded and
Measures and designated the General Office as the managing entity for systemically controlling occupational health
categorized, and based on their severity, rectification plans are developed, and corrective actions are taken, thereby
and safety risks. This initiative clarifies the processes and key points for risk identification and assessment, and allows
safeguarding both safe production and employee health.
for targeted development of response strategies to enhance the Company's ability to manage occupational health and
To effectively address and prevent various potential work safety accidents, the Company and its subsidiaries, including safety risks.
TGOOD High Voltage and Yichang TGOOD, have developed an Emergency Response Plan for Production Accidents.
This plan details the emergency response procedures, division of responsibilities, handling measures, and subsequent
recovery efforts in the event of an accident, ensuring that response actions can be carried out swiftly and orderly in
emergencies. At the same time, the Company actively organizes emergency drills to test the effectiveness of response Metrics and Targets
plans by simulating accident scenarios, training employees' emergency response capabilities, and continuously
improving the emergency management level for work safety incidents.
We see employee safety training as a crucial part of daily management. An annual Occupational Health and Safety Key Performance Unit 2025
Training Plan is established to systematically provide training content, allowing employees to acquire essential safety
knowledge and operational skills. This enhances their self-protection abilities, reduces workplace safety risks, and Number of work safety accidents Cases 0
provides a strong foundation for stable development.
Expenditure on work injury insurance 10,000 CNY 321.04
Construction of Intelligent Safety Prevention and Control System for Work injury insurance coverage rate % 100
Case1
the Electrical Testing Position
To address the high risk of electric shock during testing operations at production workshop electrical experiment Expenditure on work safety liability insurance 10,000 CNY 49.90
stations, TELD innovatively designed a testing safety solution based on AI-driven image algorithm. By isolating
test stations, installing human intrusion detection alarms, and retrofitting electrically interlocked safety doors, the
Company established a triple protection network featuring "AI recognition + physical isolation +
electromechanical interlocking". This ensures personnel are forcibly kept in safe zones during energized tests,
significantly reducing the incidence of electric shock accidents in electrical testing positions.
Construction of Intelligent Safety Prevention and Control System for
Case2
Lifting and Dual-Forklift Transport Operations
TGOOD's Yichang Base has continued to strengthen safety control over high-risk operations within the plant,
such as lifting and dual-forklift transport, to continuously improve work safety performance. The base has
implemented the "Three Real-Time“ requirements for lifting operations: real-time monitoring of the lifting
process, real-time display of load weight, and real-time communication during lifting activities, ensuring
comprehensive supervision of all lifting activities. In addition, the Yichang Base has enhanced the safety of dual-
forklift transport by installing dual wireless cameras in driver blind spots, equipping the cab with real-time display
screens, and providing forklift operators with two-way radios.
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Customer-
Centric, Quality-
Driven Future
? Strict Control of Product Quality
? Optimizing After-Sales Service
? Responsible Supply Chain
? Cybersecurity and Privacy Protection
Our response to UN SDGs
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Strict Control of Product Quality
Governance Strategy
The Company actively implements national quality policies and regulations and aligns its system planning with the ISO The Company adheres to its quality policy of "customer-centric thinking, forward positioning, strict control of NCC,
product and service quality management systems, including the Quality Manual, the Quality Inspection Work
the Company expands its quality management focus from single "product" quality to "product + service" quality,
Standards, and the Customer Experience Service Work Standards. The Company strengthens the product quality
inspection process during production and continuously improves the quality management organizational structure and comprehensively improving product and service quality to deliver products that meet customer requirements.
specific responsibilities, covering all aspects of quality management activities including product design, development, The Company has established an annual quality training plan, which mainly includes professional skill courses such as
procurement, production, and after-sales services, thereby establishing and improving the quality management
system. quality planning, response to quality issues, process management, and QC methods. Through various forms including
the "TGOOD Study" Learning Platform and lectures by internal professional instructors, the Company actively conducts
The Company strictly complies with market supervision requirements, and has improved its primary responsibility
internal quality training, aiming to comprehensively enhance employees' quality awareness and professional
system for quality and safety. The Quality Center is responsible for organizing the formulation of the Company's
quality management systems, establishing job quality and safety standards, implementing quality and safety competence, thereby ensuring the quality of products and services.
responsibilities, developing assessment methods for quality and safety and supervising their implementation,
organizing the drafting of response plans for quality and safety incidents, and conducting emergency drills. All
departments are responsible for carrying out specific quality and safety education, training, and assessments, and
efficiently implementing the quality and safety systems. During the reporting period, the Company did not experience Key Performance
any significant product quality or safety incidents.
As of the end of the reporting period, the Company and some of its subsidiaries have obtained the ISO 9001 Quality
Management System certification and multiple product testing certifications, and won the Nomination Award of 2025
Shandong Provincial Governor Quality Award issued by the People's Government of Shandong Province.
In 2025， TGOOD conducted a total of 2,029 quality training sessions covering all employees.
Company level training: Department level/Team level training:
Training content includes the Total Quality Training content includes procedural documents,
Management, the Application and Practice of process documents, inspection/test documents,
Process Approach in Operations Management, and quality reviews, quality red lines and bottom lines,
the Team Quality Management. and quality tools.。
Quality Management System Certificate
Product Quality Testing Certification of Nomination Award of Shandong
Qingdao TELD New Energy Provincial Governor Quality Award
Quality Training
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Impact, Risk, and Opportunity Management Metrics and Targets
Based on its quality management system, the Company analyzes internal and external factors related to quality
objectives and strategic direction, as well as stakeholders' needs. The Company has established a risk identification Key Performance Unit 2025
process to determine the risks and opportunities that need to be addressed, and formulated targeted response
Product recall incidents due to health and safety reasons Case 0
measures to prevent quality risks.
Major liability accidents related to product and service safety and quality Case 0
Amount involved in major liability accidents related to product and service 10,000 CNY 0
Use of Facilities (Resources/Equipment) Who is Responsible
(Capabilities/Skills/Training) safety and quality
• Computers and networks • Process responsible person:
top management
• Meeting room
• Process-related Quality Safety Target
responsibilities: Departments
The Quality and Basic Management Center of the Company has analyzed historical data and, in conjunction with the
Company's strategy, established reasonable and effective quality management objectives. We closely monitor the
implementation progress and ensure the efficient achievement of these objectives through practical measures, thereby
Input
contributing to the steady improvement of the Company's quality management level.
• Changes and trends that
Output
may impact the Company's
targets • Risk and opportunity
• The relationship with assessment and control
stakeholders, as well as
their concepts and values Risk measures Safety targets for 2026
• Corporate strategy, internal Identification • Emergency response plan
policies, and commitments
Process (M0)
• Acquisition of resources and
priority supply and
• Product recall incidents due to health and safety reasons 0
technological changes
• Stakeholder requirements • Major liability accidents related to product and service safety and quality 0
related to the quality
management system
• Amount involved in major liability accidents related to product and service safety and quality 0
Quality Objectives of This
How to Do It Process
(Methods/Procedures) • Effective identification of
risks and opportunities
• Identification of Risks and
Opportunities • Effective response measures
to address risks and
opportunities
With the rapid development of industry technology, continuous changes in market demand, and uncertainty of the
external environment, the Company faces numerous challenges as well as significant development opportunities in the
area of product quality and safety. To better manage these risks and opportunities, the Company proactively identifies
and evaluates potential influencing factors, develops scientific and reasonable response strategies to ensure its
sustainable and stable development, further strengthening its market competitiveness and enhancing customer
satisfaction.
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Optimizing After-Sales Service
After-Sales Service System
Key Performance
The Company has established a systematic and standardized after-sales service system to ensure the reliable
operation of products throughout their lifecycle and enhance customer experience. We have formulated and
continuously improved systems such as the After-Sales Service Workflow to standardize comprehensive service
process standards for various products during installation, commissioning, and maintenance. During service execution,
we implement strict quality and safety controls, including equipment inspection and commissioning, on-site safety
the Company's overall customer satisfaction score was 95 points
checks, and acceptance after operation, to ensure that the equipment is delivered free of hidden hazards. In addition,
In 2025 This reflects the Company's comprehensive improvement in timeliness and execution
we have established smooth customer communication channels and a post-service follow-up mechanism to
capability in terms of complaint response and closed-loop handling.
continuously optimize customer experience. As of the end of the reporting period, Qingdao TELD New Energy
obtained the certification of completeness of after-sales service system.
In response to on-site emergencies, the Company has
developed an emergency response plan for customer site
issues and established an exception service process,
ensuring that the Customer Service Center can promptly
arrange after-sales personnel to respond rapidly and Responsible Marketing
allocate resources, achieving closed-loop resolution of
issues. In 2025, the Company comprehensively revised The Company recognizes that its reputation and the trust of its customers are built on the foundation of providing
the Emergency Response Plan Management Standards
for Customer Site Issues, further clarifying incident truthful and accurate information. We have established and strictly implemented relevant regulations such as the
classification standards, updating the responsibilities of Guidelines for Publishing on the WeChat Official Accounts of TGOOD and TGOOD Community and the TELD Media
relevant departments, and optimizing emergency Management System to strictly manage all promotional content and information disclosure, ensuring the authenticity
response procedures; simultaneously, the Company and accuracy of public information. The Company has established a multi-level review process from content creation
updated the Action Checklist for Customer Site to release, and ensures the quality of information disclosure through measures such as information traceability.
Emergency Response Plans, clearly defining the specific
responsibilities of each link, and focusing on clarifying the Meanwhile, we strengthen the sense of responsibility of all employees through regular compliance training and
requirements for "issue response timeliness" and assessments, adhere to the principles of truthfulness and clarity in marketing communication, avoid any exaggerated
"emergency handling timeliness", promoting the overall Certification of Completeness of After-Sales Service System or misleading publicity, and ensure that all product commitments and social responsibility claims are well-founded and
service response towards greater standardization and verifiable.
timeliness.
While pursuing business success, TGOOD also remains committed to fulfilling its social responsibility. By leveraging
Enhancement of Customer Satisfaction new media channels, we actively promote the principles of sustainable development and our corporate values, striving
to build a positive, professional, and socially responsible brand image. Upholding the philosophy of sincere and
Premium service serves as the cornerstone of our market presence and customer trust. The Company places strong transparent communication, we foster a harmonious relationship between enterprises and society through high-
emphasis on enhancing the professional competencies of our customer service teams. Through ongoing targeted standard marketing practices, achieving a win-win situation that generates both economic and social benefits.
training programs, we continuously strengthen employee' capabilities in analyzing and resolving critical business
issues. The Company has formulated internal systems such as the External Customer Satisfaction Work Standards, the
Customer Satisfaction Control Procedure, and the Customer Complaint Handling Procedure, formally incorporating
customer satisfaction into the Company- and department-level key performance indicators for management. We set
overall annual goals and break them down for implementation. We have established a complete closed-loop process
for customer satisfaction survey, analysis, and improvement. Through various methods such as telephone follow-ups,
on-site surveys, and online surveys, we collect multi-dimensional feedback from customers regarding product quality,
design schemes, service attitude, and other aspects, and set differentiated survey frequencies based on different
business scenarios, ensuring that a systematic assessment is conducted at least every six months. For weak areas
identified in the survey, the Company strictly implements the closed-loop management mechanism of "survey -
analysis - improvement - follow-up". Through special training, process optimization, cross-departmental collaboration,
digital tracking and other methods, we systematically improve the efficiency of service response and problem
resolution.
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Responsible Supply Chain
Supplier Management Supplier Communication
TGOOD takes "building a resilient and sustainable supply chain system" as its core objective, with the Supply Chain
Center responsible for the full lifecycle management of qualified suppliers. The Company has established a
With the goal of building a resilient and sustainable supply chain, TGOOD launched the "Partners In-depth
standardized supply chain management system, and formulated internal systems, including the Procurement Control
Visit" Initiative led by senior management, breaking hierarchical barriers and establishing a regular
Procedures and the Supplier Management Standards. We implement supplier quality control based on the quality
management system, and standardize procurement business processes. To continuously improve the quality communication mechanism between senior management. Based on preliminary data analysis and meticulous
assurance capabilities of suppliers, the Company signs the Quality Assurance Agreement with suppliers to define preparation, the senior management team conducted face-to-face in-depth exchanges with over 100 partners.
specific standards for the products and services they provide, and controls the quality processes of suppliers through On the basis of establishing strategic mutual trust, they reached a high degree of consensus on collaborative
methods such as factory audits and product inspections. The Company collaborates with key suppliers to conduct cost reduction, transparent cooperation, and joint innovation. Meanwhile, the Company's supplier management
technological research, driving product technology iteration and upgrading through collaborative innovation. specialist regularly compiles supplier performance data provided by various departments, monitors non-
conformities such as quality issues, promptly communicates feedback and traces the root causes of problems,
thereby implementing dynamic management.
Admission Management The Company has established feedback channels for supplier grievances. The supplier management
specialists are responsible for regularly summarizing the complaints, and promoting the rectification of
reasonable issues after investigation and confirmation by relevant departments. Meanwhile, through online
The Company introduces new suppliers based on actual needs and establishes a supplier resource database satisfaction surveys, the Company actively collects suppliers' opinions and suggestions, continuously optimizes
through screening. Information surveys and evaluations are conducted on the qualifications, supply
the cooperation mechanism, and jointly builds a transparent, collaborative and sustainable supply chain
capabilities, quality, safety, and environmental management system certifications of new suppliers. An
evaluation team conducts on-site inspections of production suppliers, and those meeting the qualification ecosystem
standards are included in the qualified supplier list, which is prioritized for selection in daily operations.
Performance Appraisal
The Company implements dynamic management of qualified suppliers, regularly summarizing supplier
performance data, with relevant departments conducting comprehensive evaluations based on quality,
technology, price, service, risk and other aspects. We implement classified management based on the
evaluation results: For suppliers with excellent performance, we will ensure support in resource planning, new
product development procurement, and allocation of shares. For suppliers with poor performance, we will
focus on addressing the problem points, analyze and propose improvement suggestions, and limit their
procurement share for new project selection, in order to motivate the suppliers to improve their performance.
Review and Elimination
The Company forms a review team consisting of leaders from multiple departments to evaluate the
qualifications of suppliers. After the evaluation, an on-site inspection process is established, followed by a
comprehensive review of the supplier's quality system and technology. A detailed review report is then
compiled. Suppliers are monitored to ensure they address non-conformance issues within a specified
timeframe. Suppliers who cause economic losses due to ineffective rectification of quality problems or who
violate business conduct standards are subject to dynamic blacklist management. Relevant personnel will
review the supplier's performance and eliminate suppliers where necessary.
Partners In-depth Visit
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Supply Chain Empowerment Training Clean Supply Chain
To continuously improve the quality assurance capabilities of suppliers, the Company conducts quality TGOOD regards integrity development as a core
management of suppliers based on the quality management system. By signing the Quality Assurance prerequisite for supplier management, continuously
Agreement with suppliers, specific standards for the products and services provided by suppliers are improving the supplier integrity management system
to build a clean and transparent supply chain
established. The Company controls the quality processes of suppliers through methods such as factory audits ecosystem. In response to integrity risks in the
and product inspections. supply chain, the Company has formulated special
control and rectification measures, and the Audit
The Company deepens supplier training in accordance with the annual quality training plan, with the core
and Supervision Center conducts regular supervision
concept of "Co-building Quality, Sharing Value". We comprehensively develop suppliers from three dimensions: over procurement activities. Meanwhile, the
capability improvement, quality control, and collaborative innovation. By promoting quality culture and Company has established reporting channels to
enhancing suppliers' quality awareness, the Company works to build a sustainable supply chain ecosystem. accept internal and external feedback,
systematically strengthening the integrity defense
To strengthen the core competitiveness of procurement business, the Company has organized specialized line. Additionally, the Company carries out integrity
training, adopting an immersive training mode integrating theory with practice. Procurement employees are promotion through multiple channels such as
arranged to visit production sites to solidify their product knowledge. Meanwhile, the Company innovates supplier seminars and daily communication, clearly
conveying code of conduct and the "zero tolerance
training models by inviting suppliers to serve as professional trainers to deliver in-depth specialized courses,
principle" to partners. This strengthens compliance
promoting the transformation of the procurement team to technical procurement. This comprehensively consensus from the source, promoting the formation Integrity Culture Training
enhances the team's ability to accurately manage the procurement process and optimize resource allocation, of an open and trustworthy cooperation
builds a sustainable modern procurement management system, and empowers the collaborative development environment.
of the enterprise and supply chain.
Case1 Integrity-themed Scripted Role-Playing Game
The Company innovatively launched an immersive integrity-
themed scripted role-playing game Hongbao (Red Envelope),
adapting typical cases in the power procurement sector into
live-action reasoning scenarios. Business backbone
employees were organized to swap roles and experience, in
an immersive way, the psychological slide toward corruption
and the catastrophic consequences of unethical behavior.
This activity strengthens disciplinary awareness through
cautionary narratives. Going forward, the Company will
develop a "Procurement Integrity Risk Scenario Database",
transforming integrity education from one-way
indoctrination to integration with business operations, and
effectively reinforcing ideological defense line of employees
to ensure they "do not have the audacity, opportunity, or Integrity-themed Scripted
desire to become corrupt". Role-Playing Game
Equal Treatment of SMEs
The Company adheres to the principle of treating suppliers with honest and providing equal treatment to small
and medium-sized enterprises (SMEs). We have set up equal and reasonable payment terms to effectively
maintain good cooperative relationships with SMEs. This year, all projects with normal performance and
completed acceptance have been paid, and there were no cases of overdue payments to SMEs.
Supplier Quality Training
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Sustainable Procurement
In 2025, the Company formulated the TGOOD Green Supply Chain Supplier Management Measures, added The Company implements strict access control for information assets through measures such as
management measures for supplier ESG management and risk assessment, and continuously improved the supply rigorous identity authentication, the principle of least privilege management, and access log
chain risk prevention system. The Company has developed a comprehensive ESG scoring system for suppliers to recording, and implements tiered authorization to ensure the security of information assets.
Access Control for
conduct self-assessments, covering dimensions such as labor rights, health and safety, environmental impact, business
Information Assets
ethics, and management systems, and generates evaluation reports accordingly. Cooperation is suspended with
suppliers who commit zero tolerance violations, and serious issues identified are required to be rectified within a
specified timeframe.
This year, the Company further improved its green procurement standards, giving priority to procuring eco-designed
products that meet a series of green standards including the General Principles for Eco-Design Product Assessment
(GB/T 32161-2015), the Technical Specification for Green-Design Product Assessment – Metal-Cutting Machine Tools All computers of the Company are installed with anti-virus software, firewalls are enabled, and virus
(T/CMIF 14-2017), and the Technical Specification for Green-Design Product Assessment - Internal Combustion database and patches are updated in a timely manner; all computers accessing the Company's
Engines (T/CMIF 16-2017). The Company conducts comprehensive evaluations of suppliers by considering factors such internal network must be installed with network access control software; the use management of
as product value, after-sales service, energy conservation, water conservation, and emission reduction. Under equal terminal devices is strengthened, and the unauthorized software and devices is prohibited; security
Computer inspections of terminal devices are conducted regularly to detect and address security risks in a
conditions, the Company prioritizes the selection of suppliers that can provide products with green certification,
Terminal Security timely manner.
energy conservation and environmental protection, and recyclability.
In 2025, with outstanding achievements in the establishment of a green supply chain system, implementation of green
procurement, and low-carbon collaborative practices across the industrial chain, TGOOD was recognized as a Qingdao
Green Supply Chain Management Enterprise and became an advanced model of green development in Qingdao.
The Company implements strict access control for computer rooms, ensuring
controllable access through identity verification and entry/exit record management;
adopts a multiple power protection design supporting the connection of mains power,
UPS (Uninterruptible Power Supply) and diesel generator interfaces; equips the
Cybersecurity and Privacy Protection
computer room fire protection system with automatic fire extinguishing devices; uses a
main-standby air-conditioning redundant architecture for the refrigeration system to
Computer Room ensure appropriate operating temperature in the computer room; deploys a computer
Security
room environment monitoring system, with operation and maintenance personnel
Information Security Management conducting daily patrols. In case of abnormalities such as power supply and
temperature, real-time audible and visual alarms can be triggered.
The Company places significant emphasis on information security and privacy protection throughout the digital
construction process, and is fully committed to establishing a comprehensive information security management
system. In the areas of data collection, storage, and transmission, we strictly follow relevant standards to ensure the
security and privacy of both internal information and customer information assets. This commitment helps us provide The Company continuously strengthens data security management, implementing
customers with high-quality service experience. tiered security protection based on the importance and sensitivity of data. For core
important data, encrypted storage is adopted with secure encryption algorithms and
The Company strictly complies with relevant laws and regulations including the Cybersecurity Law of the People's
key management mechanisms. All business departments systematically sort out
Republic of China, the Regulations on Cybersecurity Classified Protection, and the Regulations on the Security
important data in their respective business fields, strengthen important data
Protection of Critical Information Infrastructure. We have formulated the Company Information Security System to
identification, clarify data protection objects, establish a data asset catalogue, and
comprehensively strengthen the Company's network and information security management, protect the security of the
implement encrypted protection for important data. When releasing business
Company's information systems and data, and prevent information security risks.
Data Security information through internet platforms, data interaction methods that meet the
The Company has established a Network and Information Security Leading Group (hereinafter referred to as the Company's requirements are adopted, and the information is subject to internal review.
"Leading Group"), which oversees an Information Security Working Group and an Emergency Response Working Group. A professional backup system is deployed to perform regular backups of important
As the highest decision-making body for network and information security, the Leading Group is responsible for the information assets, which are stored in a secure environment. Meanwhile, recovery
daily affairs of network and information security management. drills are conducted quarterly to verify the availability of backups, ensuring that
business and data can be quickly recovered in the event of a security incident.
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We have formulated the Company Network and Information Security Emergency Management The Company attaches great importance to cultivating information security awareness and regularly conducts multi-
System, which categorizes and classifies information security emergencies for management, level, multi-dimensional security training and publicity education. Based on different business scenarios and personnel
improves emergency response procedures, to promptly investigate the causes of information
roles, the Company has implemented targeted security empowerment: launch data security training for the CRM
system failures, and take appropriate response measures. The Company has developed an
Emergency Drill Plan for Information Systems and actively organizes relevant departments to (Customer Relationship Management) system targeting marketing and contract management personnel; provide
conduct emergency drills. These drills help verify the effectiveness and rationality of the cybersecurity awareness empowerment for suppliers; and organize specialized training on the publicity of information
Emergency emergency response plan. Based on the outcomes of these drills, the plan is refined to address any
security systems and comprehensive governance for all employees, covering content such as network infringement,
Management identified deficiencies, continuously improving the employees' ability to respond effectively to
unexpected events. prevention rules, and laws and regulations. In addition, the Company has carried out special training for specific risks
such as network viruses and specific systems such as smart parks, to comprehensively enhance the information
security protection awareness of suppliers and employees.
Case1 2025 Qingdao "Data Security Shield" Data Security Emergency Drill
To accelerate the improvement of data security emergency
Customer Privacy
response capabilities of key enterprises in the industrial Protection
sector, effectively prevent data security risks, and ensure the
orderly flow of data, in accordance with relevant The Company strictly complies with relevant
requirements of the Ministry of Industry and Information laws and regulations including the Personal
Technology, the Company participated in the 2025 Qingdao Information Protection Law of the People's
"Data Security Shield" Emergency Drill. By simulating real- Republic of China, the Cybersecurity Law of
world data leakage emergency scenarios, the Company has the People's Republic of China, and the Data
enhanced its emergency response capabilities. 2025 Qingdao "Data Security Shield" Emergency Drill Security Law of the People's Republic of China.
The Company has formulated the Personal
Information Security Protection System and
As of the end of the reporting period, the Company and its subsidiary TELD have obtained the ISO 27001 systematically established a personal
Information Security Management System certification. information protection governance system
matching the Company's governance level and
business risks, so as to ensure full-process
compliance of personal information processing
in all business activities, controllable risks,
traceable responsibilities, and effectively
safeguard the rights and interests of personal
information subjects.
As of the end of the reporting period, Qingdao Certificate of Privacy Information
TELD New Energy has obtained the ISO 27701 Management System Certification
Privacy Information Management System
certification.
The Company has established a full-life-cycle management system for customer information, covering five stages:
creation, transmission, storage, usage, and destruction. During information transmission, the Company adopts effective
confidentiality measures, strictly prohibits the unauthorized private distribution, copying or sharing of confidential
information, and effectively protects the security of trade secrets and sensitive data of enterprise customers through
technical means. The Company's customer systems implement strict account security management policies, adopt
strong password rules and follow the principle of least privilege. All access to customer data and activation of
permissions
配图待替换 must undergo strict process review.
In 2025, the Company carried out special training and awareness publicity focusing on personal privacy data. The
training content covers specifications for privacy data processing in smart park systems, personal information
protection requirements for core systems such as the financial system and CRM system, as well as security operation
Information Security Management System Certification
guidelines for account and transaction information, so as to systematically enhance employees' awareness of privacy
data protection. This year, the Company did not experience any incidents of customer privacy leakage.
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Appendix
Key Performance Indicators
Environmental Key Performance Indicators Unit 2025 Governance Key Performance Indicators Unit 2025
Amount invested in environmental protection 10,000 CNY 1,009.12 Number of non-external independent directors participating in integrity Person 6
training
Number of major administrative penalties imposed by environmental
authorities and other relevant departments due to environmental Case 0 Number of management personnel participating in integrity training Person 10
incidents
Number of employees participating in integrity training Person 8,900
Amount of major administrative penalties imposed by environmental
authorities and other relevant departments due to environmental 10,000 CNY 0
incidents
配图待替换
Wastewater discharge Tonne 69,312.37 Social Key Performance Indicators Unit 2025
Including: Suspended solids Tonne 1.20 Labor contract signing rate % 100
Ammonia nitrogen (NH?-N) Tonne 0.026 Social insurance coverage rate % 100
Total phosphorus (calculated as P) Tonne 0.0070 Total number of employees Person 9,030
Wastewater recycling rate % 19.71 Number of employees with disabilities Person 18
Non-hazardous waste generated Tonne 9,936.19 Full-time employees Person 9,030
Recycling rate of non-hazardous waste % 100 Number of employees by category Labor dispatch employees Person 0
Hazardous waste generated Tonne 1,401.71 Part-time employees Person 0
Tonne/10,000 Female Person 2,195
Non-hazardous waste density 0.0063
CNY revenue Number of employees by
Tonne/10,000 gender
Hazardous waste density 0.00089 Male Person 6,835
CNY revenue
Nitrogen oxides (NOX) Tonne 2.04 Under 30 (excluding 30) Person 3,852
Sulfur dioxide Tonne 0.20 30-39 Person 3,813
Number of employees by
region
Volatile organic compounds (VOC) Tonne 11.13 40-49 Person 1,133
Particulate matter (PM) Tonne 17.85 50 and above Person 232
About This Chairman's Company Performance Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
Report Message Profile in 2025 Culture Milestones Governance Development Leading the Way First Centric
Governance Key Performance Indicators Unit 2025 Index in Self-Regulatory Guidelines No. 17 for
China (including Hong Kong,
Macao and Taiwan)
Person 9,028 Companies Listed on Shenzhen Stock
Exchange—Sustainability Report (For Trial
Number of employees by region
Overseas Person 2
Senior management Person 39 Implementation)
Middle management Person 621
Topic /
Guideline Guideline
Number of employees by job level Disclosure Corresponding Section
General employees Person 8,370 Chapter Article
Requirement
Total number of female Section 1 Climate Response
Person 101
employees in management
Response to Climate Change; Energy and Resource
/ Article 20
Below bachelor's degree Person 4,829 Management
Article 21 Response to Climate Change
Bachelor's degree Person 3,823
Number of employees by education level
Article 22 Response to Climate Change
Master's degree Persons 373
Doctoral degree Person 5 配图待替换 Article 23 Response to Climate Change
Response to Climate Change
Number of employees in difficulty receiving assistance Person 50
The Company has not yet established a plan to offset
greenhouse gas emissions using carbon credits. Should such
Amount of assistance for employees in difficulty 45 a plan be adopted in the future, it will adhere to the
CNY
principles of high quality, transparency, and supplementarity,
Number of suppliers Supplier 1,302 and the details will be disclosed
The Company has not yet compiled statistics on greenhouse
Number of suppliers with quality management system certification Supplier 1,030 Chapter 3
Climate response gas emissions by business unit, facility, country, region, or
Article 25 source type
Environment
Number of suppliers with environmental management system certification Supplier 795
About This Report; Response to Climate Change
Article 26
Number of suppliers with occupational health and safety management system
Supplier 757 Response to Climate Change; Energy and Resource
certification
Management
The Company has not yet participated in the national
Supplier Integrity and Clean Cooperation Agreement Signing Rate % 100 Article 27 voluntary greenhouse gas emission reduction program or
trading of certified voluntary emission reductions
Amount involved in data security incidents 0
CNY
Amount involved in customer privacy leakage incidents 0 Article 28
CNY
Number of data security incidents occurred Case 0 Section 2 Pollution Control and Ecosystem Protection
Environmental Compliance Governance
Number of customer information leakage incidents occurred Case 0 / Article 29
About This Chairman's Company Performance Corporate 2025 Robust Green Innovation Putting People Customer-
Topic Appendix
Report Message Profile in 2025 Culture Milestones Governance Development Leading the Way First Centric
Guideline Topic / Disclosure Guideline Topic / Disclosure
Guideline Article Corresponding Section Guideline Article Corresponding Section
Chapter Requirement Chapter Requirement
Pollutant discharge Article 30 Environmental Compliance Governance Section 3 Suppliers and Clients
Strict Control of Product Quality;
Environmental Compliance Governance;
Waste disposal Article 31 Optimizing After-Sales Services;
Key Performance Indicators Article 44
Responsible Supply Chain; Cybersecurity
This topic is not applicable as the
and Privacy Protection
Ecosystem and biodiversity Company's production and operating
Article 32
protection activities do not have significant impact Supply chain security Article 45 Responsible Supply Chain
on the ecosystem and biodiversity
Environmental compliance Environmental Compliance Governance; Equal treatment of SMEs Article 46 Responsible Supply Chain
Article 33
management Key Performance Indicators
Chapter 3 Product and service safety and Strict Control of Product Quality;
Environment Article 47
Section 3 Resource Utilization and Circular Economy quality Optimizing After-Sales Services;
Chapter 4
Society Data security and customer Cybersecurity and Privacy Protection;
Article 48
Article 34 Energy and Resource Management privacy Key Performance Indicators
Section 4 Employees
Energy utilization Article 35 Energy and Resource Management
Employee Recruitment and Interests;
Water resources utilization Article 36 Energy and Resource Management Employee Care and Benefits; Employee
Article 49
Training and Development; Occupational
Energy and Resource Management; Health and Safety
Circular economy Article 37 Green Development; Key Performance Employee Recruitment and Interests;
Indicators Employee Care and Benefits; Employee
Employees Article 50 Training and Development; Occupational
Section 1 Rural Revitalization and Social Contributions
Health and Safety; Key Performance
Indicators
Article 38 Party Building Leadership
Section 1 Sustainability-Related Governance Mechanisms
Party Building Leadership; Key
Rural revitalization Article 39
Performance Indicators Article 51 ESG Governance
Party Building Leadership; Key
Social contributions Article 40 Upon assessment, this topic has neither
Performance Indicators
Due diligence Article 52 financial materiality nor impact
Section 2 Innovation and Ethics of Science and Technology materiality
Chapter 4
Society Chapter 5
Sustainability- Stakeholder engagement Article 53 Stakeholder Engagement
Article 41 R&D Innovation related
governance Section 2 Commercial Behaviors
Innovation Article 42 R&D Innovation
Business Ethics; Intellectual Property
Article 54
This topic is not applicable as the Protection
Company does not engage in scientific
Anti-commercial bribery and
Ethics of science and research or technology development in Article 55 Business Ethics
Article 43 anti-corruption
technology areas sensitive to ethics of science and
technology, such as life sciences and Fair competition Article 56 Business Ethics
artificial intelligence
Illustration Note: Some of the illustrations in this report are AI-generated.
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