¾°Íúµç×Ó: ÉîÛÚÊо°Íúµç×ӹɷÝÓÐÏÞ¹«Ë¾2025Äê¶È¿É³ÖÐø·¢Õ¹±¨¸æ£¨Ó¢Îİ棩

         Shenzhen
Kinwong
Electronic
Co.,
Ltd.
      Address:
166
Tiegang
Reservoir
Road,
Xixiang
Subdistrict,
Bao'an
District,
Shenzhen
                                                                                               SUSTAINABILITY
REPORT
Tel.:

+86-755-8389
3919
   Website:

http://www.kinwong.com      E-mail:

stock@kinwong.com   Shenzhen
Kinwong
Electronic
Co.,
Ltd.
                                                                                               Stock
Abbreviation:
Kinwong




















Stock
Code:
603228
                        Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                             2025
Sustainability
Report
?¼
         About
This
Report                                     Sustainable
Development
Management                              Environmental

Dimension                     Appendix
Report
Description             01    Sustainable
Development
Management
System        14            Low-Carbon,
Eco-Friendly,
Green
Innovation               72    Key
Performance
Indicators                      104
                                     ESG
Risk
and
Opportunity
Management              16            Climate
Change
Response
and
Carbon
Emission
Management   72
Reporting
Scope                01                                                                                                                                  Report
Index                                    111
                                     Stakeholder
Engagement                           18            Environmental
Compliance
Management                      78
Data
Sources                   01                                                                                                                                  Independent
Third-Party
Assurance
Statement     115
                                     Materiality
Analysis                             19            Resource
Utilization                                     81
Preparation
Basis              01                                                                                                                                  Reader
Feedback
Form                            118
                                                                                                    Emission
Management
and
Circular
Economy                 87
Report
Terminology             02
                                                                                                    Product
Life
Cycle
Environmental
Impact
Management       89
Access
to
This
Report          02
                                                                                                    Ecosystem
and
Biodiversity
Protection                    90
                                                               Social
Dimension


          About
Kinwong
                                      Lean
Management,
Customer
Satisfaction          22
                                      Product
R&D
and
Innovation                      22
Company
Profile                 05                                                                                              Corporate
Governance
                                      Product
and
Service
Quality                     28
                                      Chemical
Substance
Management                   36            Integrity
as
Foundation,
Compliance
in
Operations        92
ESG
Highlight
Performance       09
                                      Value
Synergy,
Shared
Prosperity                39            Improving
Corporate
Governance                           92
Honors
and
Recognition          11
                                      Sustainable
Supply
Chain                        39            Strengthening
Risk
Prevention
and
Control                95
ESG-Related
Achievements        12
                                      Industry
Cooperation
and
Exchange               46            Tax
Governance                                           97
                                      People-Oriented,
Building
the
Future
Together   47            Business
Ethics                                          97
                                      Protection
of
Employees¡¯
Rights
and
Interests   47            Data
Security
and
Privacy
Protection                     101
                                      Employee
Training
and
Development               50
                                      Employee
Benefits
and
Care                      58
                                      Occupational
Health
and
Safety                  63
                                      Social
Contribution
and
Rural
Revitalization    69
                   Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                2025
Sustainability
Report
About
This
Report
        Report
Description                                                                                                                    Report
Terminology
 This
report
aims
to
disclose
the
management
practices
and
key
performance
of
Shenzhen
Kinwong
Electronic
                            For
ease
of
expression
and
reading,
references
to
"the
Group,"
"Kinwong,"
"the
Company,"
"we,"
or
"us"
in
this

 Co.,
Ltd.
(Stock
Code:
603228)
in
environmental,
social,
and
governance
(ESG)
aspects
for
the
year
2025,
and
to
                     report
 refer
 to
 Shenzhen
 Kinwong
 Electronic
 Co.,
 Ltd.
 and
 its
 subsidiaries.
 Unless
 otherwise
 specified,
 the

 respond
to
stakeholders'
concerns
regarding
our
sustainable
development
and
information
transparency.                                terms
and
subsidiary
abbreviations
used
in
this
report
have
the
same
meanings
as
defined
in
the
Company's

         Report
Scope
                                                                                                                                             Access
to
This
Report
 Time
Frame
and
Cycle:
January
1,
2025,
to
December
31,
2025.
To
enhance
the
completeness
of
this
report,

 some
content
may
be
retroactive
or
extended.
This
report
is
an
annual
report,
and
its
reporting
cycle
aligns
                        The
electronic
version
of
this
report
is
available
for
review
or
download
on
the
official
website
of
the
Company

 with
the
financial
report.                                                                                                           (https://www.kinwong.com/)
and
Shanghai
Stock
Exchange
(http://www.sse.com.cn/).
 Organizational
Scope:
Unless
otherwise
stated,
the
policies,
statements,
and
information
in
this
report
cover

 the
actual
business
scope
of
Shenzhen
Kinwong
Electronic
Co.,
Ltd.
and
its
subsidiaries.
The
reporting
entity
is
                          Reliability
Statement
and
External
Assurance
 consistent
with
that
of
the
2025
Annual
Report
of
Shenzhen
Kinwong
Electronic
Co.,
Ltd.
(hereinafter
referred
to

 as
the
"Company's
2025
Annual
Report").
                                                                                                                                      The
Board
of
Directors
is
responsible
for
the
authenticity,
accuracy,
and
completeness
of
the
report's
content.

                                                                                                                                      Kinwong
commissioned
Shanghai
Infaith
Enterprise
Management
Consulting
Co.,
Ltd.
to
conduct
an
independ-
                                                                                                                                      ent,
 objective,
 and
 impartial
 assurance
 engagement
 in
 accordance
 with
 the
 AA1000
 Assurance
 Standard
 v3

          Data
Sources
                                                                                                                                      (AA1000AS
v3).
The
independent
assurance
statement
is
included
in
the
appendix
to
this
report.
 The
 information
 and
 data
 disclosed
 in
 this
 report
 are
 derived
 from
 official
 documents,
 publicly
 available

 information,
statistical
reports,
and
internal
reporting
of
Shenzhen
Kinwong
Electronic
Co.,
Ltd.
The
financial

 data
 in
 this
 report
 is
 in
 RMB.
 In
 case
 of
 inconsistencies
 with
 the
 financial
 report,
 the
 financial
 report
 shall

 prevail.
          Preparation
Basis
    The
Guidelines
No.
14
of
Shanghai
Stock
Exchange
for
Self-Regulation
of
Listed
Companies¡ªSustainability

    Report
(Trial)
(hereinafter
referred
to
as
the
"Guideline")
    The
Guide
No.4
for
Self-Regulatory
Supervision
on
Listed
Companies
of
the
SSE¡ªCompilation
of
Sustainable

    Development
Reports,
(hereinafter
referred
to
as
the
"Guide")
    The
GRI
Sustainability
Reporting
Standards
(GRI
Standards)
    The
United
Nations
Sustainable
Development
Goals
(SDGs)
    The
United
Nations
Global
Compact
(UNGC)
Ten
Principles
    The
Morgan
Stanley
Capital
International
(MSCI)
ESG
Rating
                                                               -01-                                                                                                                             -02-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                      2025
Sustainability
Report
Message
from
the
Management
In
 2025,
 the
 global
 landscape
 and
 technology
 industries
 underwent
 rapid
 and
 profound
 changes,
 where
 numerous
               In
terms
of
supply
chain
carbon
reduction
practices,
the
Company
has
established
a
sustainable
procurement
system
and

challenges
 intertwined
 with
 boundless
 opportunities.
 2025
 was
 also
 a
 year
 of
 building
 momentum
 for
 our
 business
           a
supply
chain
carbon
emission
management
system,
formulated
the
Supply
Chain
Sustainable
Development
Plan,
and

growth.
As
a
leading
player
in
the
global
PCB
industry,
we
regard
sustainable
development
as
a
key
strategy
for
business
                 formally
communicated
it
to
suppliers.
We
have
completed
specialized
"dual
carbon"
empowerment
training
for
major

operations.
We
adhere
to
value
orientation
and
technological
innovation,
continuously
provide
high-quality
products
and
                  material
 suppliers.
 We
 have
 also
 conducted
 special
 research
 on
 recycled
 materials,
 identified
 and
 applied
 usable

services
for
customers,
and
build
a
green,
low-carbon,
and
modernized
enterprise.
Our
achievements
would
not
have
                        materials.
been
possible
without
the
support
and
cooperation
from
all
sectors
of
society.
We
hereby
extend
our
sincerest
gratitude
to

all
friends
who
care
about
our
development
and
share
our
key
work
results
in
the
field
of
sustainable
development.
                                                                                                                                          People-Oriented,
Co-creating
Prosperity,
Building
the
Future
Together
Compliance
as
Foundation,
Strategy
as
Navigator
                                                                                                                                          Since
 the
 inception,
 we
 have
 established
 the
 business
 philosophy
 of
 "people
 foremost,
 manufacturing
 competitive

                                                                                                                                          products,
expanding
the
enterprise,
and
repaying
the
society,"
and
have
continuously
put
it
into
practice
over
more
than

Compliance
 is
 the
 cornerstone
 of
 the
 company's
 sustainable
 development.
 We
 continuously
 promote
 the
 iterative

optimization
of
our
governance
structure
and
risk
prevention
system,
ensuring
that
all
business
operations
are
conducted

                                                                                                                                          environment,
prohibiting
all
forms
of
discrimination,
harassment,
forced
labor,
and
child
labor,
and
actively
protecting

within
 a
 standardized
 and
 transparent
 framework.
 We
 have
 established
 and
 improved
 an
 anti-bribery
 management

                                                                                                                                          employees'
legitimate
rights
and
interests.
We
value
talent
cultivation
and
take
value
creators
as
the
foundation.
system
in
accordance
with
the
ISO
37001
international
standard,
promoting
the
standardization
of
anti-bribery
operating

procedures.
We
strictly
follow
the
ISO
27001
international
standard
to
build
a
scientific
and
effective
information
security

                                                                                                                                          We
 firmly
 believe
 that
 an
 excellent
 organizational
 climate
 and
 employee
 engagement
 are
 key
 drivers
 propelling
 our

management
system,
effectively
safeguarding
the
company's
data
assets
and
customer
privacy.
                                                                                                                                          sustainable
development.
In
2025,
our
employee
satisfaction
survey
covered
over
19,000
employees
across
the
Group,

                                                                                                                                          achieving
a
questionnaire
response
rate
of
96%.
The
results
show
that
our
overall
organizational
climate
has
improved
for

We
persist
in
making
ESG
governance
one
of
our
key
development
strategies,
promoting
the
integration
of
ESG
gover-
                                                                                                                                          three
consecutive
years,
reaching
the
"energizing"
organization
standard,
with
a
particularly
significant
increase
in
front-
nance
with
daily
production
and
operations.
Currently,
we
have
become
a
member
of
the
United
Nations
Global
Compact

                                                                                                                                          line
employee
satisfaction.
(UNGC),
 officially
 received
 certification
 for
 our
 1.5¡ãC
 Science
 Based
 Targets
 initiative
 (SBTi)
 target,
 and
 obtained
 an

EcoVadis
Silver
Medal
and
a
CDP
Water
Security
A-
score.
Our
efforts
have
been
widely
recognized
by
the
industry:
the

                                                                                                                                          We
actively
fulfill
our
social
responsibilities,
contributing
our
efforts
in
areas
such
as
community
co-building
and
rural

company's
S&P
Global
CSA
score
rose
to
41,
achieved
a
BB
rating
in
its
first
MSCI
ESG
Rating
assessment,
saw
its
Wind
ESG

                                                                                                                                          revitalization.
In
2025,
the
Company,
together
with
our
employees,
carried
out
public
welfare
projects
such
as
voluntary

Rating
jump
to
AA,
and
received
A
and
AA
ratings
from
China
Securities
ESG
Rating
and
Huazheng
ESG
Rating,
respectively.

                                                                                                                                          blood
 donation,
 tree
 planting,
 community
 visits,
 and
 charitable
 donations,
 tangibly
 fulfilling
 our
 corporate
 social

We
were
also
selected
for
multiple
prestigious
honors,
including
the
China
Association
for
Public
Companies'
2025
Listed

                                                                                                                                          responsibility
commitments.
Company
Sustainable
Development
Outstanding
Practice
Case.
                                                                                                                                          Stay
true
to
the
original
aspiration,
and
you
can
accomplish
your
mission.
Facing
the
wave
of
technological
and
industrial

                                                                                                                                          transformation
driven
by
AI
applications,
we
will
continue
to
deepen
our
focus
in
the
main
arena
of
printed
circuit
boards,

Improving
Quality
and
Efficiency,
Building
a
Green
and
Low-Carbon
Modern
Enterprise                                                       internalizing
our
sustainable
development
strategy
as
the
enduring
gene
of
our
vitality.
We
will
forge
ahead
hand-in-hand

                                                                                                                                          with
 global
 partners,
 accelerating
 our
 journey
 towards
 our
 vision
 of
 becoming
 the
 most
 reliable
 printed
 circuit
 board

                                                                                                                                          manufacturer
in
the
world.
We
adhere
to
the
green
development
concept,
targeting
"carbon
peak
by
2025,
carbon
neutrality
by
2050,"
and
achieved

operational
 carbon
 peak
 ahead
 of
 schedule
 in
 2024.
 We
 plan
 to
 reduce
 carbon
 emissions
 by
 >5%
 annually,
 reaching

carbon
neutrality
by
2050.
In
2025,
we
independently
developed
the
"Kinwong
Carbon
Footprint
Digital
Accounting
Tool

V1.0"
in
accordance
with
the
ISO
14067
standard.
This
tool
has
obtained
third-party
methodological
certification
and
has

been
put
into
use.
In
August
2025,
the
company
broke
ground
on
a
new
high-end
HDI
plant
at
Zhuhai
Kinwong
.
This
is
a
key
step
for
the

company
 to
 continuously
 enhance
 its
 R&D
 and
 innovation
 capabilities,
 increase
 the
 proportion
 of
 high-end
 products,

focus
 on
 "AI+"
 to
 create
 a
 new
 growth
 curve.
 By
 actively
 avoiding
 legally
 designated
 ecological
 protection
 areas
 and

implementing
pollution
control
measures
that
exceed
baseline
requirements,
the
plant
provides
protection
and
support

for
the
biological
communities
dependent
on
that
environment.
                                                                -03-                                                                                                                                      -04-
                          Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                                  2025
Sustainability
Report
About
Kinwong

Company
Profile                                                                                                                                        Corporate
Culture
Founded
 in
 1993,
 Kinwong
 is
 a
 national
 high-tech
 enterprise
 specializing
 in
 the
 R&D,
 production,
 and
 sales
 of
 printed
                Core
Philosophy:
Elaborate
and
Quality
Products
circuit
boards
(PCBs),
with
the
capability
to
provide
full
product
solutions.
Our
products
serve
a
wide
range
of
down-
stream
 applications,
 forming
 a
 "1+1+N"
 business
 layout:
 one
 pillar
 business
 (automotive
 electronics),
 one
 strategic

priority
business
(telecommunication
&
data
infrastructure),
and
a
portfolio
of
high-potential
businesses
(smart
terminals

and
industrial
control,
among
others).
                                                                                                                                                                Mission                                              Vision                                           Core
Values
One
Pillar
Business:
Enhance
Leading
Position
in
Automotive
Electronics
Sector                                                                                                                                                                             Customer
Oriented,
Caring

                                                                                                                                                       Circuits
Connect
the
World,
                   To
Become
the
Most
Reliable

                                                                                                                                                       Creating
the
Internet
of
                      Printed
Circuit
Board
                               Value
Creators,
Self-Reflection,

Automotive
Electronics                                                                                                                                 things                                         Manufacturer
in
the
World                            Integrity,
Responsibility,

                                                                                                                                                                                                                                                           Cooperation,
Innovation
Intelligent
Driving     Infotainment
Systems       Body
Electronics
Systems       BMS                 Lighting
Systems         Power
Charging
and

                                                                                                                               Distribution
Systems
                                                                                                                                                         Business
Philosophy                                   ESG
Strategy                                        ESG
Philosophy
One
Strategic
Priority
Business:
Embrace
the
Wave
of
AI
Infrastructure
Development                                                                     People
Foremost,
                          Adhere
 to
 Value
 Orientation
 and
                       Lean
Production,
Technological

                                                                                                                                                       Manufacturing
Competitive
                 Te c h n o l o g i c a l 
 I n n o v a t i o n , 
         Innovation,
Environmental

Telecommunication
and
Data
Infrastructure                                                                                                              Products,
Expanding
The
                   Continuously 
 Provide 
 High-                             Protection,
Sustainable

                                                                                                                                                       Enterprise,
and
Repaying
the
              Quality
 Products
 and
 Services
 for
                     Development,
Social

Accelerator
Cards              Servers                      Switches             Memory            Communication
Antennas        Optical
Modules
                                                                                                                                                       Society                                    Customers,
 and
 Build
 a
 Green,
                         Responsibility
                                                                                                                                                                                                  Low-Carbon,
 and
 Modernized

                                                                                                                                                                                                  Enterprise
                                                                                                                                                       Kinwong's
Seven
Major
Production
Bases
Numerous
High-Potential
Businesses:
Seize
the
Widespread
Adopting
of
Edge
AI
Applications
Smart
Terminals                                                                           Industrial
Control
Mobile
Phones         AI
Glasses         Foldable
Devices          Pads                   Drones           Industrial
Robots   Photovoltaic
Products
                                                                                                                                                          
Shenzhen
Kinwong              Longchuan
Kinwong
                        Jiangxi
Kinwong
                Ganzhou
Kinwong

Medical,
Energy,
and
so
forth
                                                    "1+1+N"
Business
Model
of
Kinwong
                                                                      Zhuhai
Kinwong
            Zhuhai
Kinwong

Flexible         Thailand
Kinwong

(Under
Construction)
                                                                          -05-                                                                                                                                         -06-
                    Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                         2025
Sustainability
Report
                                                                                                                                                                                                 December
                                                                                                                                                                                                  Our
product,
"Display

                                                                                                                                                             November                             Module
Flexible
Printed

                                                                                                                                                                                                  Circuit
Board,"
was

                                                                                                                                                              The
6th
Global
Supplier
            successfully
selected
as

                                                                                                                                                              Summit
of
the
Company
was
          a
"
Manufacturing
Single

                                                                                                                                                              grandly
held.
Senior
               Champion
Product
of

                                                                                                                               October                        representatives
from
nearly
        Guangdong
Province"
                                                                                            August                                                            400
partner
companies

                                                                                                                                                              worldwide
and
our

                                                                                                                                The
Science
Based
            management
gathered
to

                                                                                             Zhuhai
Kinwong's
new
high-         Targets
initiative
(SBTi)
    discuss
development

                                                                                             end
HDI
factory
officially
        target
submitted
by
the
      strategies
and
jointly
build
an

                                                                                             commenced
construction             Company
received
official
    efficient,
agile,
and
transpar-
                                                                                                                                approval
from
SBTi
and
       ent
sustainable
supply
chain
                                                                                             The
Company
announced
             was
formally
published

                                                                 July                        that
its
"Kinwong
Carbon
          on
its
website                Six
of
our
products
were

                                                                                             Footprint
Digital
Accounting
                                    selected
in
the
second
batch

                                                                  The
main
structure
of
     Tool
V1.0"
successfully
                                         of
2025
Famous
and
High-
                                                                  the
Longchuan
             passed
the
verification
of
the
                                  Tech
Products
of
Guangdong

                                                                  Kinwong
Phase
III
         third-party
certification
body
                                  Province
                               April                              project
was
topped
out
    and
received
a
methodologi-
                                                                                             cal
validation
statement
for

                                                                  ahead
of
schedule
                                                                                             its
carbon
footprint

                                Two
standards
                    The
main
structure
of
     accounting
platform
                                established
by
Jiangxi
           Thailand
Kinwong
was

 January                        Kinwong
were
                     successfully
topped
out
                                awarded
the
title
of

                                Enterprise
Standard

  Ganzhou
Kinwong

                                'Leader'
of
Jiangxi

  commenced
full

                                Province
  production
  The
Company
was

  recognized
by
the

  Ministry
of
Industry
and

  Information
Technology

  as
a
National
Level
Green

  Supply
Chain

  Management
Enterprise

  for
2024
                                                          -07-                                                                                                            -08-
                Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                       2025
Sustainability
Report
ESG
Highlight
Performance
                                                                                                                            Employee
Development
and
Rights
Protection
   Compliance
Operations
and
Internal
Control
Management
                                                                                                                           Diverse
Talent
Pipeline
Development:
The
Company
has
a
total
workforce
of
20,680 employees,
with
2,498

                                                                                                                           R&D
personnel,
accounting
for
 12.08%
of
total
employees;
established
stable
cooperation
with
 41
colleges

                                                                                                                           nationwide,
 setting
 up
 targeted
 "Kinwong
 Classes"
 in
 6
 institutions;
 launched
 multiple
 specialized
 talent

  Standardized
 Corporate
 Governance
 Operation:
 We
 held
 4
 Shareholders'
 Meetings
 and
 14
 meetings
 of
 the
       programs
 including
 the
 Green
 Pine
 Plan,
 Pinecone
 Tribe,
 and
 International
 Talent
 Cultivation;
 the
 employee

  Board
of
Directors,
and
4
special
committees
under
the
board
held
a
total
of 21
meetings
throughout
the
year.            promotion
rate
reached
13% for
the
year.
  High-Transparency
 Information
 Disclosure
 and
 Investor
 Relations:
 We
 issued
 238
 announcements;
 held
 3
         Scaled
 Employee
 Training
 System:
 Total
 employee
 training
 hours
 were
 approximately
 544,199
 hours;
 the

  earnings
briefings;
hosted
over
700
investors
through
roadshows,
site
visits,
etc.                                       training
coverage
rate
reached
96%;
the
percentage
of
employees
who
received
skills-related
training
was
100%;

                                                                                                                           the
average
training
duration
per
employee
was
26.32
hours;
total
training
investment
was
RMB
2.76
million.
  Zero-Violation
 Business
 Ethics
 Management:
 We
 conducted
 2
 anti-bribery
 and
 anti-corruption
 trainings

  throughout
the
year,
covering
 100%
of
directors,
management,
and
employees;
the
signing
rate
for
employee
              High
 Satisfaction
 Workplace
 Climate:
 Employee
 satisfaction
 survey
 covered
 over
 19,000
 employees
 in
 the

  integrity
commitment
letters
and
supplier
anti-bribery
commitment
letters
both
reached
100%;
zero
violations,
           Group,
with
overall
climate
score
increasing
for
three
consecutive
years;
the
percentage
of
operating
sites
that

  litigations,
or
administrative
penalties
related
to
bribery,
corruption,
conflicts
of
interest,
or
unfair
competition
   have
undergone
human
rights
impact
or
risk
assessments
was
 100%;
the
employee
coverage
rate
of
collective

  throughout
the
year.                                                                                                     bargaining
 agreements
 through
 the
 trade
 union
 was
 100%;
 we
 supported
 59
 employees
 facing
 difficulties,

                                                                                                                           distributing
a
total
of
RMB
0.95
million in
assistance
funds.
  Full-Loop
Data
Security
Protection:
 We
conducted
 108
data
security
and
privacy
protection
trainings
and
 6

  emergency
drills
throughout
the
year;
the
completion
rate
of
the
information
security
training
plan
was
100%;
0
         Comprehensive
Health
and
Safety
Management:
0
fires,
explosions,
or
major
safety
accidents
throughout
the

  confirmed
data
security
incidents,
customer
privacy
leaks,
or
leaks
of
information
classified
as
confidential
or
        year;
0
new
occupational
disease
cases;
occupational
health
examination
coverage
rate
for
employees
exposed
to

  above
throughout
the
year.                                                                                               occupational
hazards
was
 100%;
safety
production
training
covered
all
employees,
with
total
training
hours
of

   Green,
Low-Carbon,
and
Circular
Economy
                                                                                                                            Product
Management
and
Value
Chain
Co-building
  Full-Process
 Environmental
 Compliance
 Operations:
 Total
 environmental
 protection
 investment
 was
 RMB

  were
conducted;
0
environmental
violations,
major
environmental
pollution
accidents,
or
related
administrative

  penalties
throughout
the
year.                                                                                           Industry-Leading
 Product
 Quality
 Management:
 Customer
 satisfaction
 score
 was
 91.3
 points;
 0
 product

                                                                                                                           recalls
throughout
the
year;
0
major
liability
accidents
caused
by
product
and
service
quality
issues.
  Overachieved
Carbon
Reduction
Targets:
Total
operational
carbon
emissions
(Scope
1
+
Scope
2)
decreased
by

  decreased
by
9.98%
year-on-year;
independently
developed
"Kinwong
Carbon
Footprint
Digital
Accounting
Tool
              26.84%;
total
waste
products
recycled
amounted
to 2,650,369
kg.
  V1.0"
received
third-party
methodology
certification
and
was
put
into
use.
  Significantly
 Increased
 Renewable
 Energy
 Application:
 Renewable
 energy
 accounted
 for
 38.08% of
 total
          Full-Chain
Responsible
Supply
Chain
Management:
The
suppliers'signing
rate
of
Integrity
Agreement,
contracts

                                                                                                                           with
environmental
and
labor
requirements
clauses,
and
Statement
on
Not
Using
Minerals
from
Areas
of
Conflict

  energy
consumption;
self-generated
and
self-consumed
renewable
energy
was
7,712 MWh
for
the
year;
Green

                                                                                                                           all
 reached
 100%;
 the
 percentage
 of
 suppliers
 receiving
 conflict
 mineral
 information
 surveys
 was
 100%;
 the

  Electricity
purchase
was
190,438
MWh,
and
Green

Electricity

Certificate

purchase
was
223,144
MWh
.                    qualified
 supplier
 performance
 appraisal
 rate
 was
 100%;
 the
 sustainable
 procurement
 training
 pass
 rate
 for

                                                                                                                           procurement
personnel
across
the
Group
was
100%.
  Deep
 Implementation
 of
 Circular
 Economy
 Practices:
 We
 produced
 a
 total
 of
 43,299.73
 tons
 of
 recycled

  resource
 products
 such
 as
 copper
 sulfate
 and
 ammonium
 chloride;
 the
 waste
 recycling
 rate
 was
 17.25%;

                                                                                                                           Public
Welfare
Donations:
Total
amount
of
RMB
1.63
million.
  recycled
packaging
materials
amounted
to
12,574.89
tons.
                                                         -09-                                                                                                                      -10-
                  Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                            2025
Sustainability
Report
Honors
and
Recognition
                                                                                                                        EcoVadis
Certified
-
Silver
Medal             S&P
Global
ESG
Score                  BB
Rating
from
MSCI
ESG
   Top
100
Private
Manufacturing
       Top
500
Manufacturing
Enterprises
      The
Ninth
Batch
of
Green
Supply

     Enterprises
of
Guangdong
            of
Guangdong
Province
in
2025

                Chain
in
2025                     AA
Rating
from
Wind
ESG
             A
Rating
from
China
Securities
ESG        AA
Rating
from
Huazheng
ESG
       Province

Ranking
58                        Ranking
42
                                                                                                                     Science
Based
Targets
initiative
(SBTi)
           Global
Compact                              Change
C
          Responsibility                Manufacturing
and
Environmental

                                                    Protection
                                                                                                                          Outstanding
Practice
Case
            Directors
Outstanding
Practice
Case     Secretary
Performance
Rating:
5A
                                                                                                                                                                           The
19th
Listed
Company

                                                                                                                         The
16th
Chinese
Listed
Company
                 Value
Selection
?
Sunshine
         The
27th
Chinese
Listed

                                                                                                                                                                            Secretary
of
the
Board

                                                                                                                      Investor
Relations
Management
Tianma
                                                 Company
Golden
Bull
Award
-

                                                                                                                                                                            Among
Chinese
Listed

                                                                                                                           Award
-
Excellent
Team
Award                           Companies                 Most
Investment
Value
Award
 National
Excellent
Enterprises
with
   National
Excellent
Enterprises
with
   Top
100
Manufacturing
Enterprises
       Huazheng
Index
2025
A-Share
Listed
                  The
6th
Cailianshe
              2025
China
Listed
Companies

                                                                                                                       Company
IT
Industry
ESG
Performance
                "Zhiyuan
Award"
-
ESG
              Yinghua
Award
-
Yinghua
A-
 Foreign
Investment
Shenzhen
Top
       Foreign
Investment
Excellent
Tax-            in
Jiangxi
Ranking
61                                                                                                    Share
IR
Demonstration
Case
                                                                                                                                     Top
20                                    Pioneer
Award
      Ten
Turnover
Enterprises               Payment
and
Turnover
                                                        -11-                                                                                                                  -12-
              Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                      2025
Sustainability
Report
                                                      Sustainable
Development
Management
System
                                                        Kinwong
implements
the
ESG
strategic
policy
of
"adhering
to
value
orientation
and
technological
innovation,
continu-
                                                        ously
providing
high-quality
products
and
services
for
customers,
and
building
a
green,
low-carbon,
and
modernized

                                                        enterprise,"
deeply
integrating
the
ESG
concepts
of
"lean
production,
technological
innovation,
green
environmental

Sustainable
Development
Management                      protection,
sustainable
development,
and
social
responsibility"
into
our
business
strategy
and
daily
operations.
                                                      As
the
highest
responsible
body
for
the
Group's
sustainability
affairs,
the
Board
of
Directors
assumes
primary
responsibil-
                                                      ity
for
ESG
governance
decisions.
It
has
established
a
top-down
three-tier
governance
structure
comprising
the
"Decision-
                                                      Making
Level
-
Management
Level
-
Execution
Level,"
defining
the
scope
of
authority
at
each
level
to
drive
the
achievement

 Sustainable
Development
Management
System
                                                      of
our
sustainable
development
goals.
 ESG
Risk
and
Opportunity
Management                  ESG
Governance
Structure
of
Kinwong

 Stakeholder
Engagement
                                                                                         impacts,
risks,
and
opportunities;
 Materiality
Analysis                                                                    and
targets;
                                                              Board
of
Directors         development
goals;
                                                                                         policy,
strategy,
and
structure;
                                                                                         ESG
Task
Force;
                                                           Strategy
and
ESG

                                                                                         achievement;
                                                           Committee
Under
the
                                                                                        Level
                                                           Board
of
Directors
                                                           Chair:
Chairman
of
the
       their
material
impact
on
the
business;
                                                           Board
of
Directors            5.Review
 the
 annual
 sustainability
 report
 and
 other
 ESG-related

                                                                                         disclosures,
 and
 provide
 recommendations
 to
 the
 Board
 of

                                                                                         Directors.
                                                                                         stakeholder
communication
activities;
                                                         ESG
Task
Force                  management
policy;
                                                         Leader:
President               4.Build
 capacity
 in
 implementing
 specific
 ESG
 management
             Execution

                                                         Deputy
Leader:
                                                                                         practices,
 data
 statistics
 and
 analysis,
 and
 communication
 with
       Level
                                                         Secretary
of
the
Board,

                                                                                         investors
and
research
institutions;
                                                         Environmental

                                                         Management
Director             5.Formulate
the
Group's
ESG-related
policies
and
implementation

                                                         Member£ºHeads
of
ESG-            rules;
                                                         related
Tier
1
Departments      6.Report
 regularly
 to
 management,
 ensuring
 ESG
 policies
 are

                                                                                         implemented
throughout
business
processes.
                                       -13-                                                                       -14-
                     Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                              2025
Sustainability
Report
  Management
Remuneration
Linked
to
ESG
Performance
Mechanism                                                                   ESG
Risk
and
Opportunity
Management
To
ensure
the
achievement
of
the
Group's
strategic
and
sustainable
development
goals,
the
Company
insists
on
integrat-          Kinwong
fully
integrates
ESG
risk
and
opportunity
management
into
its
overall
corporate
risk
management
framework,

ing
sustainability-related
goals
and
indicators
into
the
performance
assessments
of
closely
related
senior
executives
and
      regarding
it
as
a
crucial
cornerstone
supporting
sustainable
development.
Under
the
leadership
of
the
Board
of
Directors,

Tier
1
department
heads.
These
include
management
targets
related
to
external
ESG
ratings,
R&D,
quality,
supply
chain,
         the
 Company
 systematically
 identifies
 internal
 and
 external
 ESG
 risks
 and
 opportunities,
 scientifically
 assesses
 their

information
security,
and
greenhouse
gas
emissions.
These
are
linked
to
the
remuneration
and
bonuses
of
these
senior
           potential
impacts
on
corporate
operations,
stakeholders,
and
long-term
value,
and
then
grades
them
based
on
their
level

executives
and
department
heads,
with
a
weighting
between
5%
and
30%.                                                           of
impact
and
likelihood
of
occurrence.
Based
on
the
assessment
results,
the
Company
formulates
targeted
management

                                                                                                                                strategies,
 allocates
 resources
 appropriately,
 and
 actively
 responds
 to
 the
 relevant
 initiatives
 of
 the
 United
 Nations

                                                                                                                                Sustainable
 Development
 Goals
 (SDGs)
 through
 systematic
 management
 actions,
 promoting
 the
 joint
 achievement
 of

   Performance
Appraisal
Coverage                        Linked
Indicators
                                                                                                                                sustainable
development
with
various
stakeholders.
    Chairman
 of
 the
 Board,
 President
 &
 Vice
       External
 rating
 performance
 such
 as
 MSCI
 ESG
 Rating,
 S&P

    Presidents,
Deputy
Head
of
ESG
Task
Force            Global
 Corporate
 Sustainability
 Assessment
 (CSA),
 EcoVadis,

                                                                                                                                ESG
Risk
and
Opportunity
Management
Process
                                                         CDP,
etc.
    ESG-Related
Tier
1
Department
Heads                  Sustainable
development
goals
and
indicators
such
as
product
            Risk
&
Opportunity
Identification
                                                         recall
quantity,
customer
satisfaction
score,
R&D
expenditure
as

                                                         a
percentage
of
sales,
qualified
supplier
performance
appraisal

                                                         rate,
 recruitment
 timeliness
 rate,
 and
 turnover
 rate
 of
 key
               Based
on
its
own
operations
and
industry
characteristics,
systematically
scan
the
internal
and
external

                                                         positions
                                                                         environment
to
identify
ESG
risks
and
opportunities
facing
us,
forming
a
list.
ESG
Professional
Capacity
Building
                                                                                                                                  Impact
Analysis
The
Company
places
great
importance
on
ESG
capacity
building.
Annually,
it
enhances
its
ESG
performance
capabilities

and
 accumulates
 rich
 professional
 knowledge
 and
 practical
 experience
 through
 internal
 and
 external
 stakeholder

                                                                                                                                            Analyze
 the
 potential
 impacts
 of
 identified
 ESG
 risks
 and
 opportunities
 on
 our
 long-term
 operations,

communication
and
professional
training.
Each
year,
the
Company
holds
thematic
seminars
with
professional
institutions

                                                                                                                                            brand
reputation,
financial
soundness,
and
stakeholder
rights
and
interests.
to
benchmark
and
interpret
the
latest
domestic
and
international
ESG-related
policies
and
standards.
It
also
organizes

internal
Task
Forces
for
in-depth
discussions
on
core
requirements
proposed
by
exchanges,
such
as
double
materiality
and

the
 TCFD
 framework.
 By
 combining
 standard
 interpretation
 with
 actual
 management
 practices,
 we
 are
 committed
 to

transforming
 disclosure
 requirements
 into
 management
 actions,
 driving
 continuous
 improvement
 in
 management

performance
through
high-quality
ESG
information
disclosure.
                                                                                                                                  Assessment
&
Grading
                                                                                                                                              Grade
 risks
 and
 opportunities
 based
 on
 their
 level
 of
 impact
 and
 likelihood
 of
 occurrence,
 clarifying

                                                                                                                                              management
priorities.
                                                                                                                                  Risk
and
Opportunity
Management
                                                                                                                                              Based
on
the
results
of
tiered
assessments,
develop
targeted
management
strategies
and
action
plans,

                                                                                                                                              allocate
resources,
and
implement
priority
management,
while
establishing
mechanisms
for
continuous

                                                                                                                                              monitoring
and
dynamic
optimization.
                                                            -15-                                                                                                                                -16-
                          Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                    2025
Sustainability
Report
Material
Topic
Impact
Assessment                                                                                                     Stakeholder
Engagement
                                                                          Impact       Impact       Value
Chain         Affected
    Kinwong
is
committed
to
establishing
and
consolidating
long-term,
stable,
and
mutually
trusting
cooperative
relation-
    Material
Topics              Impact
Assessment
                                                                         Direction      Cycle
1       Impact          Stakeholders   ships
with
various
stakeholders.
To
this
end,
the
Company
has
established
normalized
and
diversified
communication

                                                                                                                                     mechanisms
to
continuously
collect
and
assess
the
concerns
and
expectations
of
all
parties
in
the
ESG
field.
Based
on

       Climate
                                                                                                                      stakeholder
feedback,
the
Company
systematically
assesses
the
impacts
of
its
business
activities
on
them
and
carries
out

     Change
and
      Higher
carbon
emissions
generated

                                                                                     Medium/Long-                      Natural
      targeted
communication
and
improvements,
thereby
promoting
the
continuous
enhancement
of
our
ESG
management

       Carbon
        from
production
and
business
activities
           Negative                      Operations
      Emission
                                                                          term                          Environment
                      negatively
impact
the
environment.                                                                             level.
     Management
                                                                                                                                     Stakeholder
Concerns
and
Communication
Channels
                      Improper
treatment
of
waste
generated

                                                                                                                       Natural

      Emissions
      during
production
could
negatively
                            Short/Medium
                                                                         Negative                      Operations      Environment    Stakeholder
Group                  Topics
of
Concern                     Primary
Communication
Channels
     Management       impact
the
environment
and
communi-                             /Long-term
                                                                                                                       Communities
                      ties
surrounding
the
factories.
                                                                                                                                                                                                            Information
Disclosure           Earnings
Briefings
                                                                                                                                                                                                            Shareholders¡¯
Meeting            Roadshows
                                                                                                                                       Shareholders
and
         Corporate
Governance
                                                                                                                                                                                                            SSE
e-Interaction
Platform       On-site
Surveys
        Clean
        Meeting
the
demand
of
customers
and
                           Short/Medium                      Customers
           Investors            Risk
Prevention
and
Control
                                                                                                                                                                                                            Investor
Hotline                 Investor
Day
Events
     Technology
      end
consumers
for
sustainable
                      Positive                     Products        and
End

                                                                                      /Long-term                                                                                                            Email
Correspondence
    Opportunities     products.                                                                                        Consumers
                                                                                                                                                                 Corporate
Governance
                                                                                                                                                                 Business
Ethics
    Ecosystem
and
 The
potential
impact
of
our
operational
                                            Factory
                                                  Protection
of
Employees¡¯
Rights
and

                                                                                     Medium/Long-                      Natural
                                                                             Work
Reports/Meetings
     Biodiversity
                                                       Negative                      Construction                      Government
             Interests
                   activities
on
ecosystems.                                             term                          Environment                                                                          Site
Inspections
      Protection                                                                                       Operations                        Departments
            Climate
Change
Response
and
Carbon

                                                                                                                                                                                                            Industry
Exchange
Forums
                                                                                                                                        and
Regulatory           Emission
Management
                                                                                                                                                                                                            Regulatory
Questionnaire
Submission
                                                                                                                                           Agencies              Environmental
Compliance

                      If
the
quality
of
products
sold
by
us
fails
                                                                                                                                          Information
Disclosure
                      to
meet
standards,
or
if
safety
incidents
                                                       Customers
                                Management
      Product
                                                                       Short/Medium
     Quality
and
     occur,
it
could
impact
the
user
                   Negative                      Products        and
End
                                  Ecosystem
and
Biodiversity
Protection
                                                                                      /Long-term                                                                 Industry
Cooperation
and
Exchange
       Safety         experience
and
physical
safety
of
                                                               Consumers
                      customers
and
end
consumers.
                                                                                                                                                                 Protection
of
Employees'
Rights

                                                                                                                                                                 and
Interests                              Company
Labor
Union
                      Strengthening
sustainable
supply
chain

                                                                                                                                                                 Employee
Training
and
Development          Employee
Satisfaction
Survey
     Sustainable
     management
can
drive
upstream
                                                                                       Employees
                                                                          Positive    Long-term        Supply
Chain    Suppliers                                 Employee
Benefits
and
Care                 Visits
and
Employee
Assistance
    Supply
Chain      suppliers
to
improve
their
ESG

                                                                                                                                                                 Occupational
Health
and
Safety             Employee
Complaints
and
Appeals
                      performance,
reducing
long-term
risks.
                                                                                                                                                                 Chemical
Safety
Management
                      Failure
in
data
security
and
customer
                                                                                                                                                On-site
Audits
                                                                                                                                                                 Product
R&D
and
Innovation
    Data
Security
    privacy
protection
could
lead
to
the
                                                                                                                                                 Technical
Seminars
    and
Customer
     leakage
of
the
customer
company¡¯s
                                Short/                                             Customers             Product
and
Service
Quality
                                                                         Negative                      Operations      Customers                                                                            Customer
Satisfaction
Survey
       Privacy
       information
or
personal
information,
                          Medium-term                                                                 Data
Security
and
Privacy
Protection
     Protection       subsequently
causing
property
loss,
                                                                                                                                                  Conference
Calls,
Emails,
etc.
                      privacy
infringement,
and
a
crisis
of
trust.
                                                                                                                                                                                                            Public
Bidding
                      Inadequate
internal
compliance
manage-                                                                                Suppliers            Sustainable
Supply
Chain                   Supplier
Audits
                      ment
processes
could
lead
to
inaccurate
or

                      non-compliant
information
disclosure,
                                                                                                                                                Supplier
Meetings
      Corporate
                                                                     Short/Medium
                      thereby
affecting
the
reliability
of
investors'
   Negative                      Operations      Investors
     Governance                                                                       /Long-term
                      decision-making
basis
and
harming
their
                                                                                                                                              Exchange
Activities
                      legitimate
rights
and
interests
as
well
as
                                                                                                Emission
Management
                                                                                                                                          Communities                                                       Field
Visits
                      market
confidence.                                                                                                                         Social
Contribution
and
Reciprocity
                                                                                                                                                                                                            Volunteer
Services
and
Communication
                      Corruption,
fraud,
or
unfair
competition

                                                                                                                       Suppliers                                                                            Exchange
Activities
                      could
harm
the
rights
of
suppliers,
                           Short/Medium
                                                                         Negative                      Operations      Customers        Partners,
Media,
                                                   Industry
Exchange
Forums
    Business
Ethics   customers,
and
investors
and
impact
                            /Long-term                                                                 Industry
Cooperation
and
Exchange
                                                                                                                       Investors                                                                            Media
Interviews
                      market
fairness.                                                                                                   and
the
Public
                                                                                                                                                                                                            Corporate
Website
and
WeChat
Official
Account


Note:
Impact
Cycle:
Short-term
(1
year
or
less),
Medium-term
(2-3
years),
Long-term
(over
3
years)
                                                                         -17-                                                                                                                  -18-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                                                                    2025
Sustainability
Report
Materiality
Analysis                                                                                                                        2025
Matrix
of
Topics
of
Double
Materiality
of
Kinwong

                                                                                                                                             Significant
Guided
by
the
Strategic
and
ESG
Committee
of
the
Board,
the
ESG
Task
Force,
starting
from
our
development
strategy,
fully

integrates
 views
 from
 various
 departments
 and
 suggestions
 from
 internal
 and
 external
 experts.
 It
 updates
 the
 ESG
                                                                                                                                                                      7
material
topic
pool
with
reference
to
national
policy
guidelines
on
sustainable
development,
mainstream
international
                                                                                                                                        2
ESG
disclosure
standards,
ESG
rating
concerns
of
the
capital
market,
and
focus
areas
of
internal
and
external
stakeholders.
                                                                                         22                             21
Through
 methods
 such
 as
 surveys
 and
 management
 interviews,
 it
 assesses
 and
 analyzes
 the
 materiality
 of
 topics,
                                                                                                                                                                  1
                                                                                                                                              Materiality
to
economic,
social,
and
environmental
impacts
identifies
the
annual
work
priorities,
and
provides
targeted
responses
to
stakeholder
demands.                                                                                                                  15                                        4                    10
Materiality
Analysis
Process                                                                                                                                                                                                          3
  Step
1                                                                                                                                                                                                                                                 18
                                  Based
 on
 the
 orientation
 of
 national
 macro
 policies,
 interpretations
 of
 re-gulatory
 rules,
                                                                                              19
                                  industry
 trends,
 and
 ESG
 rating
 concerns
 of
 the
 capital
 mar-ket,
 25
 material
 topics
 that

   Topic
Pool
Update
                                  impact
 our
 own
 development,
 the
 economy,
 soci-ety,
 and
 the
 environment
 have
 been

                                  identified.
  Step
2
                                  To
ensure
the
accuracy
and
objectivity
of
the
materiality
assessment,
we
co-llaborate
with

                                  experts,
invite
various
stakeholders
to
participate
in
surveys
via
questionnaires
to
under-
   Stakeholder
Survey
                                  stand
their
level
of
concern
regarding
ESG
topics,
and
conduct
in-depth
interviews
with
our

                                  senior
executives
and
heads
of
f-unctional
and
business
departments.                                       Insignificant                                                                                 Materiality
to
the
Finance                                       Significant
                                                                                                                                                                          Environmental
Dimension
  Step
3
                                  Statistically
 analyze
 the
 materiality
 level
 of
 topics
 based
 on
 survey
 results,
 confirm
 the

    Comprehensive

                                  materiality
 ranking,
 and
 provide
 focused
 responses
 in
 the
 report
 to
 topics
 of
 concern
 to
                                                03 Emission
Management
and
Circular
Economy                                     06 Ecosystem
and
Biodiversity
Protection
   Analysis
of
Results
                                  stakeholders.
                                                                                                                                                                          Social
Dimension
  Step
4
                                  Assess
the
materiality
of
each
topic
based
on
two
dimensions:
"Materiality
to
the
Finance"
                                                           09 Product
R&D
and
Innovation                                                16 Chemical
Safety
Management
      Form
the

                                  and
"Materiality
to
Economic,
Social,
and
Environmental
Impa-cts,"
forming
the
Matrix
of
                                                           10 Sustainable
Supply
Chain                                                    17 Rural
Revitalization
   Materiality
Matrix
                                  Topics
of
Double
Materiality
of
Kinwong
and
the
ranking
of
each
topic's
materiality.
After
analyzing
material
topics
using
a
"four-step
method,"
the
Company
identified
a
total
of
five
material
topics
with
                                                  Governance
Dimension
financial
impacts
on
us,
providing
an
important
reference
for
its
future
sustainable
development
management
efforts.                                                                    21 Improving
Corporate
Governance                     23 Strengthening
Risk
Prevention
and
Control       25 Tax
Governance
                                                                -19-                                                                                                                                                                                          -20-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                2025
Sustainability
Report
                                                                                                                                       Lean
Management,
Customer
Satisfaction
                                                                                                                                          Product
R&D
and
Innovation
Social

Dimension
                                                                                                                         Governance
                                                                                                                                       The
Company
consistently
adheres
to
customer
needs,
relying
on
independent
R&D
and
external
cooperation
to
form
a

                                                                                                                                       multi-department
 collaborative,
 internally
 and
 externally
 linked
 R&D
 model,
 promoting
 R&D
 innovation
 and
 product

                                                                                                                                       upgrades,
and
striving
to
accelerate
the
transformation
and
launch
of
innovative
technologies
and
products.
At
the
same

Concept                                                                                                                                time,
the
Company
has
built
a
collaborative
governance
structure
centered
on
"R&D
innovation
with
intellectual
property

Kinwong
internalizes
social
responsibility
throughout
its
entire
operational
process,
committing
to
promoting
the
mutual
              protection,"
achieving
a
full-link
closed
loop
of
"technological
breakthrough
-
achievement
protection
-
value
transforma-
enhancement
of
economic
benefits
and
social
value.
The
Company
adheres
to
a
value-creation
orientation,
continuously
                  tion,"
continuously
consolidating
its
core
competitiveness.
optimizing
its
products
and
services;
deepens
industrial
collaboration
to
support
the
healthy
development
of
the
industry

                                                                                                                                       To
ensure
efficient
and
orderly
R&D
activities,
we
have
established
a
top-down
R&D
management
structure.
The
Board
of

ecosystem;
 cares
 for
 employees
 to
 foster
 an
 equitable,
 respectful,
 and
 inclusive
 organizational
 climate;
 and
 actively

                                                                                                                                       Directors
is
the
highest
governing
body
for
product
R&D
and
innovation
topics,
responsible
for
reviewing
and
supervising

participates
in
community
building,
conveying
our
warmth
through
public
welfare
actions.
We
join
hands
with
partners
                  R&D-related
sustainable
development
goals
and
their
achievement.
The
Company
has
established
the
Kinwong
Research

from
all
sides
to
build
a
sustainable
future
characterized
by
shared
responsibility
and
shared
value.                                  Institute,
headed
by
a
Vice
President.
Its
core
members
include
experts
in
PCB
engineering
technology
research,
who
have

                                                                                                                                       rich
experience
and
expertise
in
the
field
of
innovation
and
R&D,
are
adept
at
grasping
technology
frontiers,
accurately

                                                                                                                                       identifying
R&D
risks
and
opportunities,
and
formulating
effective
response
strategies.
Our
Actions                                                                                                                            The
Kinwong
Research
Institute
has
several
departments
equipped
with
dedicated
personnel
who
track
the
completion
of

                                                                                                                                       project
 indicators
 in
 real
 time,
 promptly
 adjust
 R&D
 strategies,
 and
 continuously
 optimize
 R&D
 processes
 to
 ensure

 Product
R&D
and
Innovation                    Protection
of
Employees'
Rights
and
Interests                                           innovation
and
R&D
efforts
remain
at
an
industry-leading
level.
 Product
and
Service
Quality                   Employee
Training
and
Development
 Chemical
Safety
Management                    Employee
Benefits
and
Care                                                                                                                          Board
of
Directors
                                                                                                                                       Governance
 Sustainable
Supply
Chain                      Occupational
Health
and
Safety                                                            
Level         The
highest
governing
body,
which
reviews
and
supervises
R&D-related
sustainable
de-velopment
goals

 Industry
Cooperation
and
Exchange             Social
Contribution
and
Reciprocity                                                                      and
their
achievement.
                                                                                                                                                                                                Company
Management
                                                                                                                                       Management

                                                                                                                                          Level         Responsible
 for
 approving
 our
 medium-to-long-term
 R&D
 and
 innovation
 strategy
 and
 providing

                                                                                                                                                        guidance
for
innovation
and
R&D
management
activities.
                                                                                                                                                                                                   Research
Institute
                                                                                                                                        Planning
                                                                                                                                         
Level         Responsible
for
our
R&D
strategic
planning,
fundamental
and
forward-looking
technology
research,
and

                                                                                                                                                        leading
our
new
product
R&D,
introduction,
and
transformation
of
R&D
achievements.
                                                                                                                                                                           R&D
Quality
&
Operations
Department,
Product
R&D
Department,
                                                                                                                                        Execution                   
Technical
Support
Department,

Testing
Center
and
other
relevant
departments
                                                                                                                                          
Level
                                                                                                                                                        Responsible
for
key
customer
technical
support,
new
product
development
and
introduction,
technol-
                                                                                                                                                        ogy
development,
industry-university-research
and
IP
management,
central,
testing
platform
manage-
                                                                                                                                                        ment
and
analysis,
R&D
project
management,
etc.
                                                                                    Lean
Management,
Customer
Satisfaction
                                                                                                                                       Furthermore,
 in
 accordance
 with
 R&D
 management
 requirements
 and
 target
 planning,
 the
 Company
 continuously

                                                                                         Value
Synergy,
Shared
Prosperity              improves
 its
 Integrated
 Product
 Development
 (IPD)
 management
 system,
 formulating
 and
 strictly
 implementing
 R&D

                                                                                                                                       management
systems
such
as
the
Technology
Planning
Management
Measures,
New
Product
Development
Management

                                                                                    People-Oriented,
Building
the
Future
Together      Measures,
Technology
Development
Management
Regulations,
and
Project
Change
Management
Regulations.
                                                               -21-                                                                                                                                  -22-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                        2025
Sustainability
Report
Key
Performance                                                                                                                 R&D
Opportunity
List
of
Kinwong

                                                                                                                                   Opportunity
Type            Opportunity
Description              Likelihood
of
    Financial
Impact        Impact
Cycle
                                                                                                                                                                                                     Occurrence
       Innovation
&
R&D
Resource
Investment                     2023                   2024                   2025
                                                                                                                                                           Convert
core
R&D
achievements

       R&D
Expenses
(RMB
Million)                              600.70                 757.59                 929.93                                        into
high-value
patent
portfolios,
                       It
 may
 lead
 to
 an

                                                                                                                                                           build
technical
barriers,
and
                            increase
 in
 non-
                                                                                                                                   High-Value
Patent
      enhance
bargaining
power;
                                                         Short-term,

       R&D
Expenses
as
%
of
Revenue                             5.58                   5.98                   6.07                                         increase
revenue
and
lower
                  Medium       operating
income

                                                                                                                                   Commercialization                                                                                          Medium-term
                                                                                                                                                           financing
costs
through
                                  and
a
decrease
in

       R&D
Personnel
(person)                                  1,598                  1,768                   2,498                                        licensing,
transfer,
and
pledge
                          financing
costs.
                                                                                                                                                           financing.
       R&D
Personnel
as
%
of
Total
Employees                   10.45                   9.86                   12.08
                                                                                                                                                                                                                     It
may
lead
to
a

                                                                                                                                                           AI
and
big
data
empower
R&D
                              decrease
in
R&D

                                                                                                                                 Digital
Transformation
   process
optimization,
shorten
                            expenses
and
an
         Short-term,

                                                                                                                                                                                                         High
                                                                                                                                 Technology
Innovation     R&D
cycles,
and
improve
the
                              increase
in
R&D
         Medium-term
      Strategy                                                                                                                                                                                                       investment

                                                                                                                                                           conversion
rate
of
achievements.
                                                                                                                                                                                                                     efficiency.
                                                                                                                                                           Collaborate
with
universities,

Through
 systematic
 assessment
 and
 analysis,
 the
 Company
 actively
 identifies
 R&D-related
 risks
 and
 opportunities,
                              research
institutions,
and
the

encompassing
a
comprehensive
review
of
policies,
regulations,
market
trends,
technological
iterations,
and
internal
R&D
                                                                                             It
may
lead
to
a

                                                                                                                                  Industry-University-     supply
chain
to
overcome
key

                                                                                                                                                                                                                     decrease
in
R&D

capabilities.
This
enables
the
formulation
of
targeted
strategies
to
effectively
respond
to
risks
and
opportunities.                                       technological
hurdles,
quickly

                                                                                                                                 Research
Collaboration
                                                Medium       expenses
and
an
         
Medium-term
                                                                                                                                                           fill
technology
gaps,
share
R&D

                                                                                                                                      Innovation                                                                     increase
in
return

                                                                                                                                                           resources,
and
accelerate
the

                                                                                                                                                                                                                     on
investment.
R&D
Risk
List
of
Kinwong
                                                                                                                                  realization
and
monetization

                                                                                                                                                           of
results.
                                                                  Likelihood
of
   Potential
Financial
                         Intellectual
Property
Management
         Risk
Type                  Risk
Description                                                        Impact
Cycle
                                                                  Occurrence
2          Impact
                                                                                                                                The
Company
places
high
importance
on
IP
management,
has
built
a
comprehensive
management
system,
and
assigned

                            High-input
R&D
may
fail
to
                                                                         full-time
IP
engineers
who
deeply
participate
in
R&D
innovation,
patent
mining,
and
portfolio
development,
forming
a

                                                                                   It
may
lead
to
a
                            management

network

characterized

by
"efficient

decision-making,
strong

execution,
and

full

participation."
    R&D
Returns
Falling
    materialize
due
to
technologi-
                                                                                   decrease
in
revenue
    Medium-term,

    Short
of
Expectations   cal
iteration
or
market
                   Medium
                                                                                   and
an
increase
in
     Long-term
                            changes,
causing
missed

                                                                                   R&D
expenses.                                                                                 Formulate
the
IP
Confidentiality
Control
Procedures,
clarifying
the

                            competitive
opportunities.                                                                                              Implement
                   access
 rights
 of
 personnel
 involved
 in
 confidential
 matters,

                                                                                                                                               Confidentiality
Control           equipment
 usage
 specifications,
 information
 processing
 require-
                                                                                   It
may
lead
to
a

                                                                                                                                                                                 ments,
and
visit
area
restrictions
to
ensure
asset
security.
                            It
may
cause
leakage
of
trade
                         decrease
in
revenue

                            secrets,
stagnation
of
R&D
                            and
an
increase
in
     Short-term,

    Core
Talent
Turnover                                               Medium                                                                                                    Regularly
 identify
 equipment /software
 infringement
 risks

                            projects,
and
disrupt
innova-                          R&D
expenses
and
       Medium-term                                                           according
to
the
IP
Risk
Management
Control
Procedures,
monitor

                            tion
continuity.                                       administrative
                                                                               product
 IP
 status,
 and
 formulate
 dispute
 prevention
 plans;

                                                                                                                                               Strengthen
Risk
Early

                                                                                   expenses.                                                                                     perform
patent
early
warning
analysis,
dynamically
track
competi-
                                                                                                                                                     Warning
                                                                                                                                                                                 tors'
 patent
 portfolios,
 integrate
 risk
 control
 into
 R&D
 processes,

                                                                                   It
may
lead
to
an
                                                                            and
 formulate
 peripheral
 patent
 plans
 for
 core
 technologies
 to

                            It
may
lead
to
product

                            delisting,
account
freezes,
and
                       increase
in
non-                                                                              achieve
comprehensive
prot-ection
from
source
to
application.
    Infringement
and
       restricted
market
access
at
the
                       operating

                            operational
level;
face
high
               Low        expenses,
R&D
          Short-term                                                            Strictly
 implement
 the
 cooperative
 R&D
 contract
 review
 system,

    Malicious
Complaints                                                                                                                        Standardize
Contract

                            settlement
fees,
litigation
                           expenses,
and

                                                                                   administrative
                                                                               cl-early
 defining
 ownership
 responsibilities
 and
 confidentiality

                            compensation,
and
fund
                                                                                                 Management
                            freezes
at
the
financial
level.                        expenses.                                                                                     clauses
to
achieve
full-chain
IP
protection.
                                                                                                                                                                                 The
 Company
 has
 issued
 relevant
 R&D
 innovation
 incentive
 sch-
                            Failure
to
register
patents
and
                       It
may
lead
to
an
                                                                            emes,
 granting
 different
 monetary
 rewards
 based
 on
 different

    Inadequate
IP
          trademarks
simultaneously
in
                          increase
in
selling
                                          Establish
Incentive

                            overseas
markets,
which
may
               Medium                              Long-term                                                             patent
application
types,
fully
motivating
researchers'
innovation

    Portfolio
Layout                                                               expenses
and
loss
                                               Mechanisms
                            lead
to
counterfeiting
and
loss
                                                                                                                     awareness
 and
 work
 enthusiasm,
 and
 ensuring
 the
 timely
 protec-
                                                                                   of
intangible
assets.
                            of
market
share.                                                                                                                                     tion
of
research
results.


Note:
Likelihood
of
Occurrence:
Low
(probability
<
30%),
Medium
(probability
between
30%
-
70%),
                             The
 Company
 organizes
 intellectual
 property-related
 training
 annually,
 integrating
 IP
 protection


High
(probability
>
70%)                                                                                                       awareness
 into
 employees'
 daily
 work.
 During
 the
 reporting
 period,
 the
 Company
 conducted
 four

                                                                                                                                specialized
training
sessions
on
IP
and
patents,
comprehensively
enhancing
the
IP
creation,
utiliza-
                                                                                                                                tion,
and
protection
capabilities
of
the
R&D
and
innovation
teams.
                                                               -23-                                                                                                                              -24-
                        Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                       2025
Sustainability
Report
    Case            Intellectual
Property
Department
of
Kinwong

Conducts
Basic
Patent
Knowledge
Training                         2025
R&D
and
Innovation
Achievements
  In
 2025,
 to
 enhance
 the
 patent
 literacy
 of
 R&D
 personnel
 across

  various
 factories,
 support
 the
 protection
 and
 transformation
 of
 our
                                                      Case         Development
Project
of
New
Energy
Vehicle
Charging
and
Distribution
Copper-Embedded
Products
  technological
innovation
results,
and
effectively
mitigate
patent
risks

  during
R&D,
our
Intellectual
Property
Department
conducted
multiple

  series
of
patent
knowledge
training
sessions
for
R&D
personnel.
The
                                                             With
the
rapid
development
of
the
new
energy
charging
and
distribution
equipment
market,
the
demand
for
high

  training
 content
 covered
 core
 modules
 such
 as
 basic
 patent
 knowl-                                                       thermal
 conductivity
 copper-embedded
 products
 continues
 to
 grow.
 Their
 technical
 core
 and
 cost
 control
 have

  edge,
 patent
 search
 methods,
 techniques
 for
 drafting
 technology
                                                          become
 key
 competitive
 factors.
 To
 meet
 the
 stringent
 heat
 dissipation
 requirements
 of
 on-board
 charging
 and

  disclosure
 documents,
 and
 patent
 mining
 knowledge.
 Through
 the
                                                           distribution
 products,
 Jiangxi
 Kinwong
 
 launched
 a
 development
 project
 of
 new
 energy
 vehicle
 charging
 and

  series
 of
 training
 activities,
 R&D
 personnel
 systematically
 mastered
                                                     distribution
 copper-embedded
 products.
 A
 cross-functional
 team
 was
 assembled
 to
 tackle
 bottlenecks
 such
 as

  core
 patent-related
 knowledge
 and
 practical
 skills,
 enhancing
 their
                                                      copper
 ingot
 matching,
 copper-embedded
 interface
 bonding,
 and
 process
 standardization,
 improving
 product

  awareness
of
patent
mining,
application,
and
risk
prevention.
This
laid
                                                         consistency
and
yield
through
process
optimization
and
re-engineering.
  a
solid
foundation
for
the
effective
protection
and
efficient
transfor-
  mation
of
our
R&D
innovations
and
further
strengthened
the
intellec-                                                             The
project
was
completed
in
January
2026,
achieving
stable
mass
production
of
the
customer's
series
of
products

  tual
property
moat
around
our
core
technologies.                                                                                 and
securing
orders,
while
also
facilitating
the
introduction
of
other
vehicle
customer
projects.
This
technological

                                                                                    Basic
Patent
Knowledge
Training
Session        breakthrough
 comprehensively
 enhanced
 our
 core
 technical
 capabilities,
 mass
 production
 level,
 and
 market

                                                                                                                                   competitiveness
in
the
on-board
copper-embedded
field,
laying
a
solid
foundation
for
our
long-term
development

                                                                                                                                   in
the
new
energy
charging
and
distribution
sector.

     Impact,
Risk,
and
Opportunity
The
Company
has
established
a
full-process
risk
and
opportunity
assessment
mechanism
characterized
by
"pre-project

prediction,
 in-process
 monitoring,
 post-achievement
 evaluation,
 normalized
 early
 warning,
 and
 continuous
 optimiza-
tion."
 It
 systematically
 identifies
 and
 analyzes
 related
 risks
 and
 opportunities,
 implements
 targeted
 management

measures
to
ensure
the
smooth
progress
of
innovation
and
R&D
activities,
and
provides
strong
support
for
our
sustainable

development.
R&D
Risk
and
Opportunity
Identification,
Assessment,
and
Management
Process
of
Kinwong

                                                                                                                                    Case         0.3
mm
pitch
Connector
Product
Development
Project
                        Conduct
patent
landscape
analysis
to
identify
high-risk
points
and
high-value
opportunities.
Pre-R&D
Project

   Initiation           Conduct
information
insights,
market
research,
and
interviews
to
identify
policy-supported
areas,

                        market
gaps,
etc.                                                                                          To
 address
 the
 challenge
 of
 upgrading
 connectors
 to
 0.3
 mm

                                                                                                                                   pitch
 high-density
 precision
 interconnect
 technology
 driven
 by

                                                                                                                                   the
 miniaturization
 trend
 in
 consumer
 electronics,
 Longchuan

                        Patent
engineers
maintain
close
communication
and
full-process
tracking
with
R&D
personnel
to
             Kinwong
 
 laun-ched
 the
 development
 project
 of
 0.3
 mm
 pitch

  During
R&D
           ensure
the
timely
conversion
of
R&D
innovations
into
patent
applications.                                  connector
 series
 products.
 A
 cross-departmental
 team
 was

   Process              Adjust
plans
promptly
through
mechanisms
like
periodic
project
reports
and
risk
triggers
to
avoid
         formed
 to
 focus
 on
 overcoming
 core
 challenges
 such
 as
 place-
                        risk
points.                                                                                               ment
accuracy,
soldering
process,
and
stencil
design.
                        Conduct
 intellectual
 property
 value
 assessments
 to
 identify
 commercial
 opportunities
 such
 as
    Through
process
validation
optimization,
parameter
fine-tuning,

Post-Achievement
       patent
licensing
and
technology
transfer.                                                                  and
customer
dev-elopment,
Longchuan
Kinwong

succes-sfully

 Transformation                                                                                                                    achieved
stable
mass
production
of
this
series
of
products
and

                        Review
risk
points
across
the
entire
R&D
process
to
form
guiding
documents.
                                                                                                                                   gained
rec-ognition
and
adoption
from
several
core
customers.

                                                                                                                                   This
project
significantly
enha-nced
our
technical
strength,
mass

                        Regularly
 monitor
 competitors'
 patent
 applications
 and
 litigation
 information
 to
 identify
        produc-tion
 capability,
 and
 market
 competitiven-ess
 in
 the

Normalized
Early

 Warning
and
           technical
barriers
and
infringement
risks.                                                                 precision
connector
field.
  Continuous
           All
R&D
personnel
sign
confidentiality
agreements
and
non-compete
agreements
to
mitigate
the
                                                                                               Project
Proposal
Review
Meeting

 Optimization
                        risk
of
R&D
achievement
leakage,
etc.
                                                               -25-                                                                                                                          -26-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                      2025
Sustainability
Report
Innovation
and
R&D
Honors
and
Qualifications                                                                                Product
and
Service
Quality
      and
 Information
 Industry
 Association
 -
 First
 Prize
 for
 Scientific

      and
Technological
Progress                                                                                           Adhering
to
the
quality
policy
of
"starting
with
myself,
manufacturing
competitive
products,
providing
customers
with
the

                                                                                                                           most
 satisfying
 products
 and
 services,"
 and
 aiming
 for
 "zero
 defects,"
 Kinwong
 
 provides
 customers
 with
 high-quality

      Key
Technology
Development
and
Industrialization
of
Ultra-High-
                                                                                                                           products
and
trustworthy
services
through
a
systematic
mana-gement
system,
improved
processes,
enhanced
quality

      Speed
Optical
Module
PCB
for
Optical
Communication
                                                                                                                           control,
and
advanced
technologies,
all
suppo-rted
by
efficient
problem-solving
capabilities,
while
continuously
improv-
      Scientific
 and
 Technological
 Achievement
 Evaluation
 by
 the
                                                    ing
customer
satisfaction.
      Ministry
 of
 Science
 and
 Technology
 of
 the
 People's
 Republic
 of

      China
?
Internationally
Advanced
Technology
      Key
Technology
R&D
of
High-Speed
Interconnect
Cable
High-End

      HDI
PCB
for
Data
Centers
                                                                                                                                Governance
      Famous
and
High-Tech
Products
of
Guangdong
Province
      Automotive
Millimeter-Wave
High-Frequency
Ultra-Low
Dielectric
                                                      Kinwong
has
established
a
quality
management
system
covering
the
entire
product
life
cycle,
consistently
prioritizing

      Loss
PCB,
Metal-Ceramic
Composite
PCB,
High-Frequency
Circuit
                                                       product
qua-lity
and
safety
as
the
highest
management
priority.
To
promote
continuous
improvement
and
standardized

      Board
 for
 Wireless
 Power
 Amplifier
 Modules
 in
 Communication,
         Certificate
for
Famous
and
High-Tech

                                                                                     Products
of
Guangdong
Province

      for
Automotive
ADCU,
Ultra-Low
Loss
PCB
for
AI
Servers                                                               annual
quality
plans
and
improving
the
quality
management
system
of
the
Company
and
its
subsidiaries.
Referencing

                                                                                                  (Example)
                                                                                                                           international
 quality
 management
 sta-ndards
 such
 as
 ISO
 9001
 and
 IATF
 16949
 and
 industry
 best
 practices,
 we
 have

                                                                                                                           formulated
 and
 strictly
 implemented
 internal
 systems
 and
 procedure
 documents
 such
 as
 the
 Quality
 Man-agement

                                                                                                                           Manual,
Group
Safety
Manual,
and
Product
Safety
Control
Procedures,
building
our
product
quality
governance
system.
                                                                                                                           Quality
Management
Organizational
Structure
of
Kinwong

     Metrics
and
Targets
                                                                                                                                                                                 Board
of
Directors
During
the
reporting
period,
our
achievement
of
metrics
and
targets
related
to
innovation
and
R&D
was
as
follows:
                                                                                                                                                                                 Management
Level
  Key
Performance                                                                                                                                                                   President
                                                                                                                                          Quality
              Customer
                               Supplier
Quality

                                                                                                                                                                                      System
                                    Factory
Quality

                                                                                                                                         Assurance
              Service
                                Management

                                                                                                                                                                                    Department                                    Department
                                                                                                                                        Department             Department                                 Department
                                            Target                                              Achievement
in
2025
                 Success
rate
of
key
customer
project
introduction
90%                                Achieved
      Completion
rate
of
key
product
development/technology
development
90%                           Achieved
                                                                                                                              The
Company
continuously
improves
product
and
service
quality
assurance
levels
through
annual
quality
summaries

           Completion
rate
of
new
material/new
process
development
90%                                Achieved                and
improvement
plans,
monthly
quality
target
tracking
and
quality
meetings,
and
group-wide
knowledge
manage-
                                                                                                                              ment
and
sharing.
                   Completion
rate
of
special
technology
project
90%                                  Achieved
                                                               -27-                                                                                                                       -28-
                                         Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                             2025
Sustainability
Report
Quality
Goal
Achievement
Process
of
Kinwong
                                                                                                                            Product
Quality
Assurance
Measures
                                                                                                                                                                        Product
and
Process
Monitoring
                                    Quality
Planning                      Quality
Control                    Quality
Improvement
  Customer
Requirements
                                                                                                                                                Customer
Satisfaction
                                 Product
Pre-assessment              First-off/Last-off,
In-process
         KPI
Non-Achievement
                                                 Monitoring
and
measurement
are
performed
at
all
stages
of
production,
including
incoming,
in-process,

                                 Experience
Sharing                  Sampling                                Improvement                                                          final
 inspection,
 and
 product
 audit,
 according
 to
 defined
 standards
 and
 procedures.
 We
 use
 statistical

                                 Employee
Training                   First
Pass
Yield
&
DPPM                 Reliability
Project
                                                 techniques
to
analyze
process
capability
and
implement
Statistical
Process
Control
(SPC)
for
key
character-
                                                                     Process
Audit                           Improvement                                                          istics.
 Laboratory
 equipment
 is
 calibrated
 according
 to
 international
 or
 national
 standards,
 and

                                 Equipment
Capability

                                                                     SPC
Control                             Special
Improvement                                                  Measurement
System
Analysis
(MSA)
is
conducted
periodically
to
ensure
the
accuracy
and
reliability
of
test

                                 Monitoring
                                                                     Traceability
Management                 CPAR
Implementation,
                                                results.
                                 Establishment
of
Incentive

                                 Mechanisms                                                                  PDCA
                                                                                                             Improvement
                                                                                                                                                                        Nonconforming
Product
Control
and
Corrective/Preventive
Actions
                          Quality
System
Organizational
Capability
Building                                                            Support
                                                                                                                                                                                  Any
 nonconforming
 product
 is
 clearly
 identified,
 segregated,
 reviewed,
 and
 disposed
 of
 according
 to

                                                                Quality
System
Management                                                                                         specified
procedures
(e.g.,
rework,
scrap,
concession).
The
Company
emphasizes
root
cause
analysis,
using

                                                                                                                                                                                  methods
 such
 as
 8D
 to
 solve
 problems,
 and
 implements
 corrective
 and
 preventive
 actions
 to
 prevent

                                   Employee
Mindset                 
Employee
Capability                    Employee
Governance                                                   recurrence
and
occurrence
of
potential
issues.
                              Quality
Performance
Appraisal             Quality
Capability
            Quality
System
Establishment
and

                              Quality
Culture
Building                  Training                       Improvement
                                                                                                       Quality
System
Implementation
and

                                                                                                       Execution
Review
                                                                                                                                                                         Supplier
Quality
Management
                      Strategy
                                                                                                                                                                                  We
 regard
 suppliers
 as
 an
 extension
 of
 quality,
 ensuring
 that
 purchased
 materials,
 components,
 and

                                                                                                                                                                                  outsourced
 services
 consistently
 meet
 quality
 and
 safety
 standards
 through
 strict
 supplier
 selection,

The
 Company
 takes
 continuous
 improvement
 as
 its
 eternal
 goal.
 By
 applying
 risk-based
 thinking,
 it
 systematically

                                                                                                                                                                                  evaluation,
performance
monitoring,
and
development
processes.
Particularly
stringent
management
is

identifies
and
responds
to
risks
and
opportunities
of
product
and
service
safety
and
quality,
ensuring
system
robustness

and
forming
a
dynamic
management
list
to
provide
a
basis
for
formulating
countermeasures.                                                                                         applied
to
suppliers
providing
products
affecting
product
safety
characteristics.
Product
and
Service
Safety
and
Quality
Risk
List
of
Kinwong

                                                                                    Likelihood
of
         Potential
Financial

                           Risk
Type                 Risk
Description                                                               Impact
Cycle
                                                                                    Occurrence
2                Impact
                                                                                                                                                                        Product
Preservation
and
Traceability
                                              Yield
non-conformance
of
FPC

                                                                                                         Decrease
 in
 revenue,

                                              and
 PCB
 products,
 leading
 to
                                                     Short-term,
                                  Appropriate
preservation
measures
are
implemented
during
internal
processing,
storage,
and
delivery
to

  Quality
Control
Risk                                                                   Medium          increase
in
production

                                              increased
 rework
 costs
 and
                                                        Medium-term
                                                                                                         costs.                                                                   customers
 to
 prevent
 product
 damage,
 deterioration,
 or
 mixup.
 For
 products
 with
 traceability
 require-
                                              delayed
order
delivery.
                                                                                                                                                                                  ments,
 such
 as
 automotive
 products,
 batch
 management
 is
 implemented
 to
 ensure
 complete
 product

                                              Quality
instability
of
key
raw
                                                                                                     traceability.
                                              material
suppliers
(e.g.,
high-
                                                                                                         Inventory
value

  Supply
Chain
Quality
                       frequency
substrates,

                                                                                         Medium          fluctuation,
increased
    Medium-term
  Fluctuation                                 specialty
chemicals),

                                                                                                         cash
flow
pressure.
                                              affecting
product
consistency

                                              and
reliability.
                                              Failure
to
meet
product

  Product
Safety
and
                         functional
safety
or
industrial

                                              safety
standards,
leading
to
              Medium          Decrease
in
revenue        Long-term
  Compliance
Risk
                                              customer
claims
and

                                              restricted
market
access.
                                                                                  -29-                                                                                                                                             -30-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                 2025
Sustainability
Report
                                                                                                                                     Product
Recall
and
Nonconforming
Product
Management
     Impact,
Risk,
and
Opportunity
The
Company
regards
ensuring
product
safety
and
reliability
throughout
its
life
cycle
as
a
core
cornerstone
of
its
opera-
tions
management.
The
Company
has
established
a
safety
management
mechanism
covering
product
life
cycle
stages
                         A
robust
product
recall
management
system
is
key
to
protecting
customers'
rights
and
interests,
fulfilling
product

such
as
design
and
development,
supply
chain
management,
and
production
delivery,
ensuring
products
meet
customer
                      safety
responsibilities,
and
maintaining
corporate
reputation.
To
address
the
risk
of
non-conformance
in
delivered

and
regulatory
requirements
and
minimizing
product
liability
risks.                                                                     products,
the
Company
has
established
the
Product Recall Control Procedures,
ensuring
that
in
the
event
of
a
batch

                                                                                                                                        product
defect,
a
recall
can
be
initiated
quickly
and
effectively
to
control
and
eliminate
risks,
minimizing
impact
on

                                                                                                                                        customers
and
the
public.
Life-Cycle
Product
Management
Measures
of
Kinwong

                                                                                                                                     Product
Recall
Management
Process
of
Kinwong

     Source
Prevention
and
Design
Assurance
    Systematically
identify
and
assess
regulatory
requirements
and
potential
risks
related
to
product
safety
during
the
                                           The
 Company
 has
 clarified
 the
 triggers
 for
 initiating
 the
 recall
 procedure,
 including

    initial
 stages
 of
 product
 design
 and
 development.
 Integrate
 safety
 considerations
 into
 product
 design
 and
                                        customer
complaints,
findings
from
regulatory
inspections,
confirmation
through
internal

    manufacturing
 process
 design
 by
 conducting
 Design
 Failure
 Mode
 and
 Effects
 Analysis
 (DFMEA)
 and
 Process
                 Recall
                  self-inspection,
 or
 changes
 inregulations/standards.
 Particularly
 for
 medical
 device

                                                                                                                                        Procedure

    Failure
Mode
and
Effects
Analysis
(PFMEA),
ensuring
safety
characteristics
are
effectively
defined
and
controlled
                Determination                products,
 the
 Company
 strictly
 follows
 the
 Medical De-vice Recall Management Measures

    from
the
product's
inception.                                                                                                                                  (Trial),
and
categorizes
recalls
into
three
levels
based
on
the
potential
health
hazard
degree

                                                                                                                                                                   of
the
defect,
serving
as
the
basis
for
decision-making
and
action
timeliness.
     Process
Control
and
Traceability
                                                                                                                                                                   The
 recall
 process
 begins
 with
 the
 rapid
 identification
 and
 evaluation
 of
 potentially

    All
safety-related
product
characteristics
are
clearly
identified
in
control
plans,
work
instructions,
and
inspection
                                         defective
products.
The
Company
authorizes
a
task
force
to
promptly
conduct
an
invest-
    standards,
and
are
subject
to
enhanced
controls.
During
production,
we
use
mistake-proofing
techniques,
SPC,
                                                  igation
and
assessment
upon
receiving
information,
including
procedures
such
as
verifying

                                                                                                                                         Recall

    and
other
methods
to
ensure
manufacturing
consistency
of
safety
characteristics.
Meanwhile,
a
robust
identifica-                    Process
                   the
 issue,
 analyzing
 hazards,
 and
 defining
 the
 scope
 of
 impact.
 Once
 a
 recall
 is
 decided,

    tion
 and
 traceability
 system
 is
 established
 to
 ensure
 both
 forward
 traceability
 from
 raw
 materials
 to
 finished
     Execution                   product
 traceability
 is
 immediately
 initiated,
 all
 stakeholders
 are
 identified,
 and
 recall

    products
 and
 backward
 traceability
 from
 finished
 products
 to
 raw
 materials,
 supporting
 rapid
 response
 and
                                        information
is
disseminated
through
appropriate
channels
within
a
specified
timeframe.
    recalls.
                                                                                                                                                                   All
recalled
products
are
clearly
identified,
segregated,
and
subject
to
inspection,
rework,

     Change
Management
and
Emergency
Response                                                                                                                      scrap,
and
other
dispositions
according
to
relevant
procedures.
After
the
recall
concludes,

                                                                                                                                                                   the
task
force
prepares
a
recall
summary
report,
evaluates
the
effectiveness
and
rationality

    Any
design,
process,
or
supplier
change
that
may
affect
product
safety
is
strictly
subject
to
the
change
manage-                   Post-Recall
                of
the
recall
process,
and
uses
the
results
as
input
for
management
review.
Simultaneously,

                                                                                                                                      Handling
and

    ment
process,
including
review,
verification,
validation,
and
customer
approval
when
necessary.
The
Company
                      Improvement                  the
 Company
 formulates
 and
 implements
 improvement
 measures
 according
 to
 the

    has
established
comprehensive
contingency
plans
to
address
emergencies
that
may
endanger
product
safety
and
                                                   Corrective and Preventive Action Control Procedures
 and
 regularly
 verifies
 the
 effectiveness
 of

    continuous
supply
(e.g.,
critical
equipment
failure,
supply
chain
disruption)
and
regularly
tests
their
effectiveness.                                         procedures
through
simulated
or
actual
recalls,
continuously
improving
the
product
safety

                                                                                                                                                                   and
quality
management
system.
     Information
Communication
and
Responsibility
                                                                                                                                        Furthermore,
the
Company
has
established
and
continuously
improved
the
Nonconforming Product Control Procedures.
It

    The
Company
has
appointed
a
management
representative
and
ensures
all
employees
within
the
organization
                            aims
to
effectively
identify,
segregate,
review,
and
dispose
of
nonconforming
products
found
throughout
the
process

    recognize
the
impact
of
their
activities
on
product
quality
and
safety.
It
has
maintained
clear
and
timely
communi-                 from
incoming
raw
materials
to
finished
product
shipment,
preventing
unintended
use.
Following
the
Corrective and
    cation
with
customers
and
suppliers
regarding
product
safety
requirements.
The
Company
continuously
monitors
                       Preventive Action Procedures,
it
takes
corrective
and
preventive
actions
on
causes
of
nonconformance,
thereby
ensuring

    and
 analyzes
 postmarket
 product
 safety
 information
 (e.g.,
 complaints,
 returns,
 recall
 information)
 as
 input
 for
       the
stability
and
reliability
of
product
quality,
driving
continuous
improvement
of
the
quality
management
system,

    improvement.                                                                                                                        and
ultimately
achieving
the
goal
of
delivering
stable
and
reliable
products
to
customers.
                                                               -31-                                                                                                                                -32-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                 2025
Sustainability
Report
Customer
Complaint
Management                                                                                                              Customer
Level              Customer
Satisfaction
Survey
and
Collection
Targets                 Target
Achievement
To
 ensure
 timely
 response,
 effective
 resolution
 of
 customer
 feedback,
 and
 drive
 internal
 quality
 improvement,
 the
          A-Level
Customers                       100%
survey
and
collection                                     Achieved
Company
 has
 established
 a
 systematic
 customer
 complaint
 handling
 mechanism
 covering
 closed-loop
 management
                                                Initiated
randomly
with
a
decreasing
ratio,
the
target

from
complaint
receipt,
investigation,
and
handling
to
final
case
closure.                                                             B,
C,
D-Level
Customers           of
the
overall
collection
rate
set
at
80%
or
above                      Achieved
Key
Measures
for
Customer
Complaint
Handling
of
Kinwong
                                                                            To
 ensure
 the
 adequacy
 and
 objectivity
 of
 evaluations,
 the
 Company
 has
 established
 a
 multi-channel
 information

                                                                                                                                    collection
 mechanism,
 including
 collecting
 semi-annual
 Customer Satisfaction Questionnaires,
 compiling
 Automotive Product
                                                                                                                                    Customer Performance Sheets,
 and
 periodically
 collecting
 supplier
 performance
 cards
 provided
 by
 customers.
 Based
 on

                       Complaint
Receipt
and
Tiered
Management                                                                      customer
 satisfaction
 survey
 results,
 the
 Company
 has
 established
 clear
 scoring
 and
 action
 mechanisms.
 All
 survey

                         The
 Company
 formally
 records
 and
 acknowledges
 all
 received
 customer
 complaints.
                  records
and
analysis
results
are
used
to
create
customer
satisfaction
files,
serving
as
important
input
for
management

                         Complaints
are
categorized
into
five
levels
based
on
the
severity
of
the
issue
and
its
potential
          reviews
and
future
business
decisions.
                         financial
 and
 reputational
 impact.
 For
 different
 levels,
 the
 Company
 defines
 differentiated

                         response
 timeliness,
 responsibility
 levels
 for
 handling,
 and
 escalation
 paths,
 ensuring
          Quality
Culture
Building
                         resource
allocation
matches
the
risk.
                                                                                                                                    To
 deepen
 the
 core
 concept
 that
 "quality
 is
 the
 lifeblood
 of
 the
 enterprise"
 and
 internalize
 quality
 requirements
 as

                                                                                                                                    common
values
and
behavioral
norms
for
all
employees,
the
Company
continuously
strengthens
company-wide
quality

                       Handling
Process
and
Continuous
Improvement                                                                  awareness
and
builds
a
proactive
quality
culture
through
multi-level
and
multi-form
promotional
and
practical
activities.
                         Complaint
handling
follows
clear
steps,
including
promptly
confirming
information
with
the

                         customer,
 assessing
 containment
 actions
 to
 stop
 problem
 escalation,
 initiating
 root
 cause

                         investigation,
 and
 formulating
 and
 implementing
 corrective
 and
 preventive
 actions.
 The
               Case          "Quality
Month"
Thematic
Activity
                         Company
emphasizes
cross-functional
team
collaboration,
requiring
multiple
departments
to

                         participate
in
the
analysis,
especially
for
major
complaints
and
recurring
issues.
All
effective
            In
2025,
under
the
theme
"Follow
Processes,
Respect
Standards,"
the
Company
conducted
a
Quality
Month
activity

                         corrective
 actions
 are
 required
 to
 be
 updated
 in
 relevant
 standard
 documents,
 and
 their
         across
 all
 employees.
 Through
 kick-off
 meetings,
 poster
 campaigns,
 and
 various
 cultural
 interactions
 such
 as

                         effectiveness
 is
 tracked
 and
 closed
 out
 through
 internal
 audits
 and
 subsequent
 customer
          knowledge
training,
quizzes,
abnormal
case
studies,
strict
in/out
management,
LPA
audits,
and
promoting
"quality

                         quality
performance
reviews.                                                                                 red
 lines"
 and
 "speak-up
 culture,"
 it
 comprehensively
 strengthened
 employee
 quality
 awareness
 and
 behavioral

                                                                                                                                      norms.
                                                                                                                                      During
 the
 activity,
 employee
 knowledge
 training
 participation
 rate
 at
 each
 production
 base
 exceeded
 92%.
 FQA

                       Transparent
Communication
and
Responsibility
Mechanism
                                                                                                                                      batch
rejection
rates
mostly
decreased.
The
highest
average
number
of
"speak-up"
reports
per
person
reached
4.46,

                         The
 Company
 is
 committed
 to
 maintaining
 transparent
 and
 timely
 communication
 with
                 and
the
average
issue
closure
rate
exceeded
97%,
effectively
improving
the
Group's
overall
quality
management
level.
                         customers.
 The
 procedure
 specifies
 the
 timeliness
 for
 providing
 interim
 measures
 and
 final

                         reports
 to
 customers
 and
 issues
 8D
 reports
 as
 required
 by
 customers.
 This
 system
 not
 only

                         focuses
on
resolving
individual
events
but
also
aims
to
systematically
identify
common
quality

                         risks
through
monthly
summaries
and
case
analyses,
driving
continuous
improvement
of
the

                         management
system
and
product
quality.
Customer
Satisfaction
Survey
The
Company
has
established
the
tiered
Customer Satisfaction Survey and Review Procedures,
conducting
an
external
satisfac-
tion
survey
covering
all
customer
categories
at
least
semi-annually.
The
survey
scope
covers
multiple
dimensions
such
as

quality
 performance,
 service
 responsiveness,
 delivery
 perf-ormance,
 technical
 support,
 and
 environmental
 substance

compliance,
systematically
assessing
the
degree
of
customer
demand
fulfillment
and
quality
perception
to
continuously

improve
the
Group's
service
quality
and
customer
satisfaction.
To
achieve
refined
evaluation,
the
Company
implements

tiered
customer
management
based
on
factors
like
sales
revenue,
setting
different
survey
and
collection
rate
targets
for

                                                                                                                                                                                  Kinwong's
"Quality
Month"
Activity
Site
customers
at
different
levels.
                                                              -33-                                                                                                                                  -34-
                    Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                  2025
Sustainability
Report
  Case          High-Frequency
Board
Special
Quality
Improvement
Project
of
Shenzhen
Kinwong
                                        Chemical
Substance
Management
In
 2025,
 at
 the
 Shenzhen
 Kinwong
 
 PCB
 factory,
 addressing
 the
 high
 scrap
 rate
 caused
 by
 layer
 misalignment
 or
    Kinwong
 strictly
 complies
 with
 national
 policies,
 regulations,
 and
 guidelines
 such
 as
 the
 Work Safety Law of the People's
dimensional
change
in
high-frequency
board
production,
a
special
team
consisting
of
10
people
from
the
Process,
                    Republic of China and
the
Regulations on the Safety Management of Hazardous Chemicals.
Adhering
to
the
principle
of
"prevention

Quality,
and
Production
departments
carried
out
a
quality
improvement
project.
The
project
strictly
followed
the
Six
               first,
 full-process
 control,"
 it
 has
 formulated
 systems
 like
 the
 Dangerous Goods Management Regulations, Environmental
Sigma
management
model.
Through
measures
such
as
data
collection,
root
cause
analysis
of
defects,
and
verifica-                     Substance Management Standard,
and
Chemical Post Safety Operation Procedures.
It
has
established
a
chemical
life
cycle
manage-
tion/implementation
 of
 solutions,
 it
 achieved
 a
 significant
 reduction
 in
 the
 average
 monthly
 scrap
 rate
 for
 layer
   ment
 system
 covering
 R&D,
 procurement,
 storage,
 use,
 and
 disposal
 to
 systematically
 manage
 the
 safety,
 health,
 and

misalignment,
 demonstrating
 our
 solid
 achievements
 in
 refined
 quality
 management
 and
 con-tinuous
 improve-                environmental
risks
posed
by
chemical
substances.
ment.
                                                                                                                                    The
Company
places
high
importance
on
hazardous
chemical
substance
management,
establishing
a
sound
organiza-
                                                                                                                                    tional
 structure
 and
 system,
 continuously
 improving
 personnel
 management
 responsibilities
 and
 authorities
 at
 each

                                                                                                                                    stage
of
the
life
cycle.
It
also
requires
management
personnel
to
obtain
hazardous
chemical
safety
management
person-
                                                                                                                                    nel
 certificates
 to
 ensure
 effective
 implementation
 of
 standard
 requirements
 and
 measures
 for
 hazardous
 chemical

                                                                                                                                    management,
effectively
preventing
hazardous
chemical
safety
accidents.
                                                                                                                                                                  Chemical
Substance
Life
Cycle
Management
of
Kinwong

                                                                                                                                                        Greening
at
the
Source
                                                                                                                                                          Green
Procurement
and
Substitution
Priority:
During
the
R&D
and
design
phase
of
new
products

                                                                                                                                                          and
 processes,
 prioritize
 non-toxic,
 low-toxicity,
 and
 low-environmental-hazard
 chemical

                                                                                                                                                          alternatives
to
reduce
potential
risks
at
the
source.
                                                                                                                                         R&D
and
         Chemical
Assessment:
During
the
introduction
and
development
of
new
products,
components,

                                                                                                                                          Design
         and
 materials,
 take
 environmental
 protection
 and
 human
 health
 as
 core
 elements
 of
 product

                                                                                                                                          Stage           design,
strictly
assessing
the
restricted/prohibited
substance
content
and
technical
reliability
of

                                     Meeting
Site
of
Special
Quality
Improvement
Project                                                                  new
products.
                                                                                                                                                          Proactive
Risk
Assessment:
Conduct
a
preliminary
risk
assessment
for
new
chemicals
intended

                                                                                                                                                          for
 use,
 identifying
 their
 physical,
 health,
 and
 environmental
 hazards
 to
 ensure
 they
 can
 be

   Metrics
and
Targets                                                                                                                                    managed
safely.
During
the
reporting
period,
the
quality
and
safety
management
targets
and
their
achievement
of
our
products
and

services
were
as
follows:                                                                                                                               Standardization
of
Access
                                                                                                                                                          Supplier
Qualification
Audit:
Establish
a
qualified
supplier
list,
strictly
auditing
the
production

                                                                                                                                      Procurement
        qualifications,
safety
management
system,
and
environmental
compliance
of
chemical
suppliers.
Key
Performance
                                                                                                                                       and
Access

                                                                                                                                         Stage            Chemical
Information
Standardization:
Require
suppliers
to
test
according
to
relevant
standards

                                                                                                                                                          and
provide
key
documents
such
as
hazardous
substance
test
reports,
Safety
Data
Sheets
(SDS),

  During

the

reporting

period,                                                                                                                         and
declarations
of
conformity
for
specific
chemical
substances.
Reports
must
include
flowcharts

                                                                                                                                                          and
photos
of
the
articles
as
the
basis
for
all
subsequent
management
activities.
  the
 Group's
 customer
 satisfaction
 survey
 questionnaire
 recovery
 rate
 was
 100%,
 with
 a
 satisfaction
 score
 of

  The
Company
had
0
product
recalls
due
to
quality
issues
and
0
major
liability
accidents
caused
by
product
and

  service
safety
and
quality.                                                                                                                           Standardized
Storage
and
Safe
Transportation
                                                                                                                                                          Dedicated
Warehouse
and
Segregated
Storage:
Set
up
dedicated
chemical
warehouses
meeting

                                                                                                                                                          safety
and
fire
protection
standards,
with
zoning
and
classified
storage
based
on
the
properties
of

                                                                                                                                                          different
chemicals
(e.g.,
flammable,
corrosive,
toxic),
and
clear
signage.
                                                                                                                                       Storage
and

                                              Target                                                      Achievement
in
2025
        Transportation
     Information
 Management
 for
 Receiving
 and
 Issuing:
 Establish
 electronic
 chemical
 ledgers,

                                                                                                                                          Stage           detailing
receiving,
issuing,
and
inventory
information
to
achieve
dynamic
tracking
and
inventory

     FPC
complaint
rate
not
exceeding
0.67%,
PCB
complaint
rate
not
exceeding
0.57%                             Achieved                                  control.
Automotive
product
recall
rate
0%,
non-automotive
product
return
rate
not
exceeding
0.24%                                                                 Safe
 Transportation:
 Entrust
 qualified
 hazardous
 materials
 transport
 units,
 ensure
 transport

                                                                                                                Achieved
                                                                                                                                                          processes
comply
with
regulatory
requirements,
and
prevent
accidents
such
as
leaks,
fires,
and

                     Customer
satisfaction
score
not
less
than
88
points                                                                                  explosions.
                                                                                                                Achieved
                                                              -35-                                                                                                                                 -36-
                  Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                       2025
Sustainability
Report
               Controlled
Usage
                                                                                                                            Chemical
Substance
Identification
Status
                  Chemical
 Process
 Management:
 Conduct
 hazard
 risk
 assessments
 for
 chemicals,
 formulate

                  corresponding
safety
control
measures,
prioritize
elimination/substitution,
engineering
controls,

                  and
management
controls,
and
execute
corresponding
risk
control
plans.                                              Identification
Scope                                           Identification
Content
  Use
and
 Operation
       Worker
 Training
 and
 Protection:
 Provide
 specialized
 safety
 training
 to
 employees
 handling
          Cover
 our
 entire
 production
 process,
 including
           Define
 the
 name,
 CAS
 number,
 physicochemical

   Stage          chemicals,
 ensuring
 they
 understand
 hazard
 characteristics
 and
 master
 safe
 operating
 proce-
                                                                                                                                chemical
 substances
 in
 raw
 materials,
 auxiliary
          properties,
etc.,
of
various
chemical
substances.
                  dures.
Mandatorily
equip
and
correctly
use
appropriate
Personal
Protective
Equipment
(PPE).
                                                                                                                                materials,
finished
products,
and
waste
chemical

                  Engineering
Control
Measures:
Equip
usage
points
with
engineering
control
facilities
such
as
fume
            substances.
                  hoods
and
local
exhaust
ventilation
to
effectively
reduce
airborne
chemical
concentrations
in
the

                  workplace
and
minimize
employee
exposure
risk.
               Standardization
of
Delivery                                                                                      Chemical
Substance
Phase-out
Plan
                  Process
 Compliance
 Control:
 Implement
 strict
 management
 norms
 and
 procedures
 in
 product

  Product
        delivery
management
to
ensure
compliance
of
components
and
materials
in
products.
  Delivery

   Stage          Environmental
 Testing:
 Test
 for
 hazardous
 substances
 before
 product
 delivery
 and
 attach
       The
Company
actively
monitors
domestic
and
international
regulations
and
customer
requirements,
establishes
chemical

                  corresponding
test
reports
and
environmental
compliance
declarations
to
meet
environmental

                                                                                                                           substance
 replacement
 and
 restriction
 management
 processes,
 formulates
 hazardous
 substance
 reduction
 plans,
 and

                  requirements.
                                                                                                                           gradually
phases
out
restricted
regulated
chemicals
by
replacing
high-risk
substances
with
low-risk
ones,
and
highly
toxic,

                                                                                                                           low-volatility,
hard-to-degrade
substances
with
low-toxicity,
low-volatility,
easily
degradable
ones.
               Compliant
Disposal
                  Segregated
 Collection
 and
 Labeling:
 Collect
 chemical
 waste
 generated
 (e.g.,
 waste
 solvents,

                  waste
liquids,
waste
packaging)
separately,
store
in
closed
containers,
and
affix
hazardous
waste
           Establishment
of
                                  Decision-making
       Implementation
of

  Disposal
       labels.                                                                                                                                                                                                          Supervision
and

   Stage                                                                                                                           Chemical
            Risk
Assessment           of
Replacement
         Replacement
and
             Review
                  Compliant
Entrusted
Disposal:
Sign
agreements
with
compliant
disposal
units
holding
Hazardous
                Substance
List                                     and
Restriction           Restriction
                  Waste
Operation
Permits
to
ensure
legal
and
safe
transfer,
utilization,
or
disposal
of
hazardous

                  waste,
and
implement
an
electronic
manifest
management
system
for
full-process
traceability.
                                                                                                                                            Chemical
Substance
Replacement
and
Restriction
Management
Process
of
Kinwong

  Chemical
Substance
Identification
                                                                                                                            Chemical
Substance
Management
List
of
Production
Bases
of
Kinwong

The
Company
annually
collects
and
evaluates
relevant
domestic
and
                                                                    Identification
of
Chemical
Substance
List                            Chemical
Substance
Phase-out
Plan
international
 regulations
 and
 standards
 on
 chemical
 substance

control,
such
as
the
RoHS
Directive,
ELV
Directive,
REACH
Regulation,

                                                                                                                                There
are
17
categories
of
restricted
regulated
substances
          Five
categories
of
regulated
substances
are

Packaging
 Directive,
 POPs
 Regulation,
 US
 TSCA,
 and
 customer

                                                                                                                                applicable
to
all
homogeneous
materials
used
in
                     being
prioritized
for
phase-out.
environmental
 substance
 management
 specifications.
 This
 ensures

                                                                                                                                products,
components,
and
packaging,
and
3
categories

comprehensiveness
in
the
scope
and
content
of
chemical
substance

                                                                                                                                of
restricted
regulated
substances
applicable
to
chemi-
identification,
establishes
strict
control
requirements
for
chemicals,

                                                                                                                                cals
used
in
product
components
or
materials
during

ensures
timely
response
to
changes,
and
reduces
compliance
risks.
                                                                                                                                manufacturing
and
assembly.
                                                        -37-                                                                                                                            -38-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                            2025
Sustainability
Report
Value
Synergy,
Shared
Prosperity                                                                                                       At
 the
 institutional
 level,
 the
 Company
 formulates
 and
 implements
 foundational
 systems
 such
 as
 the
 Procurement
                                                                                                                                       Management Procedures
and
Supplier Quality Management Procedures,
comprehensively
standardizing
supply
chain
opera-
                                                                                                                                       tions.
In
the
supplier
access
stage,
it
implements
specialized
processes
such
as
the
Supplier Sourcing Process, Qualified
                                                                                                                                       Supplier Introduction Process,
and
Supplier Selection.
For
dynamic
supplier
management,
the
Company
has
formulated
the

                                                                                                                                       Supplier Integration and Activation Management Process
to
improve
supplier
exit
and
reactivation
mechanisms.
To
promote

  Sustainable
Supply
Chain                                                                                                             suppliers
in
improving
their
ESG
performance,
the
Company
has
formulated
the
Code of Conduct for Suppliers,
further

                                                                                                                                       clarifying
requirements
for
suppliers
in
dimensions
such
as
labor,
environment,
and
business
ethics.
Kinwong
has
established
a
comprehensive
supply
chain
management
system,
continuously
promoting
the
sustainable

development
 of
 the
 supply
 chain.
 The
 Company
 systematically
 identifies
 and
 assesses
 risks
 and
 opportunities
 in
 the

supply
chain.
By
improving
organizational
functions,
strengthening
institutional
processes,
enhancing
supervision,
and

optimizing
 supporting
 measures,
 it
 achieves
 systematic,
 standardized,
 and
 transparent
 supply
 chain
 management,
               Strategy
working
with
suppliers
to
build
a
safe,
resilient,
and
responsible
supply
chain
ecosystem.
                                                                                                                                     Supply
Chain
Management
Risk
and
Opportunity
List
of
Kinwong

     Governance
In
terms
of
organizational
structure,
the
Company
has
established
the
Procurement
Management
Department
to
coordi-                                                                                   Likelihood
of
     Potential
Financial

                                                                                                                                     Risk/Opportunity
Type       Risk/Opportunity
Description                                                     Impact
Cycle
                                                                                                                                                                                                      Occurrence             Impact
nate
 supply
 chain
 management.
 Its
 subdepartments,
 the
 Sourcing
 Department
 and
 the
 Procurement
 Quality
 and

Operations
 Department,
 focus
 on
 supplier
 access
 evaluation
 and
 ongoing
 management
 and
 performance
 supervision
                                    Supplied
materials
or
compo-
during
cooperation,
respectively.
To
strengthen
management
effectiveness,
the
Company
incorporates
key
supply
chain
                                          nents
have
quality
defects,
batch

management
indicators
such
as
audit
of
minerals
from
areas
of
conflict,
responsible
procurement
audit
certification,
and
                                     inconsistencies,
or
fail
to
meet
                       Increase
in
production

supplier
 evaluation
 coverage
 into
 the
 performance
 appraisal
 system
 of
 the
 Procurement
 Department
 and
 its
 sub-               Quality
Risk        technical
standards,
leading
to
           High         costs,
decrease
in
         Short-term
department
heads,
directly
linking
them
to
performance-based
pay
with
a
weighting
of
20%.                                                                     production
delays,
decreased
                           revenue.
                                                                                                                                                              product
yield,
and
affecting
order

Supply
Chain
Management
Organizational
Structure                                                                                                              delivery.
                                                                                                                                                              Suppliers
face
supply
interrup-
                                                                                                                                                              tions
due
to
their
own
financial
                       Incur
additional
costs

                                                                                                                                        Operational
Risk      crises
or
other
operational
issues,
      Medium        and
premium
                Short-term
                                                       Board
of
Directors                                                                                     affecting
the
stability
of
our
                         expenses.
                                                                                                                                                              production
plans.
                                                      Management
Level                                                                                        Suppliers
violate
relevant
laws
                        Direct
economic

                                                                                                                                                                                                                                                         L
                                                                                                                                                                                                                                                             o
                                                                                                                                                                                                                                                                 n
                                                                                                                                                                                                                                                                     g
                                                                                                                                                                                                                                                                         t
                                                                                                                                                                                                                                                                             e
                                                                                                                                                                                                                                                                                 r
                                                                                                                                                                                                                                                                                 m
                                                         President                                                                                            and
regulations,
causing
the
                           losses
such
as
legal

                                                                                                                                        Compliance
Risk       Company
to
face
joint
legal
               Low          fees
and
fines;
            Long-term
                                                                                                                                                              liability,
reputational
damage,
                        sustained
decline
in

                                           Procurement
Management
Department                                                                                                                                          revenue.
                                                                                                                                                              export
restrictions,
etc.
                                                   Procurement
Director
                                                                                                                                                              Through
systematic
supplier
ESG

                                                                                                                                                              management,
take
the
lead
in

                                                                                                                                                              meeting
top
customers'
strict

                                 Equipment
                                       Procurement
                                                                requirements
on
supply
chain

                                                      Material
Centralized
                                     Base
                   Revenue
Growth
                                                               Sustained
revenue

        Sourcing
                Centralized
                                      Quality
and
                                                               carbon
footprint,
labor
rights,
          Medium                                    Long-term
                                                        Procurement
                                        Procurement
                  Opportunity                                                                 growth
       Department               Procurement
                                       Operations
                                                                material
traceability,
etc.,

                                                         Department                                         Department
                                Department                                        Department                                                                  thereby
gaining
incremental

                                                                                                                                                              orders
or
priority
cooperation

                                                                                                                                                              opportunities.
                                                              -39-                                                                                                                               -40-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                    2025
Sustainability
Report
Full
Life-Cycle
Supplier
Management                                                                                                     Supplier
Performance
Evaluation
Kinwong
has
established
a
systematic
life-cycle
supplier
management
system
covering
five
modules:
sourcing,
introduc-
tion,
 classification,
 performance
 evaluation,
 and
 exit,
 achieving
 closed-loop
 management
 from
 supplier
 entry
 to
 exit.
                 Supplier
Performance
Evaluation                                       Supplier
Annual
On-site
Audit
Within
this
framework,
the
Company
systematically
integrates
ESG
requirements,
promoting
synergistic
improvement
in

the
supply
chain
across
compliance
operations,
green
and
low-carbon
practices,
and
social
responsibility,
to
build
a
robust
               The
Company
determines
supplier
performance
                        The
Company
conducts
annual
audits
on
suppliers

and
sustainable
supply
chain
ecosystem.                                                                                                    based
on
dimensions
including
quality,
cost,
                       according
to
the Supplier On-site Audit Plan,
covering

                                                                                                                                           delivery,
service,
technological
innovation,
and
ESG
               aspects
such
as
responsible
procurement,
human

Supplier
Sourcing
Management                                                                                                               performance.                                                        rights,
child
labor,
and
employee
welfare.
                                                                                                                                           The
Company
recognizes
and
awards
suppliers
with

             Propose
Sourcing
Requirements                                       Supplier
Market
Survey
and
Analysis                       good
performance
and
organizes
meetings
and

                                                                                                                                           rectification
actions
for
poor-performing
suppliers
to

                                                                                                                                           drive
performance
improvement.
     Our
demand
unit
proposes
sourcing
requirements
                       Systematically
conduct
supplier
market
research

     to
promote
new
product
and
project
develop-                           and
analysis
from
five
aspects:
status
analysis,

     ment,
while
reducing
production
costs
and
                            market
overview,
peer
survey,
supplier
on-site

     improving
product
quality.                                            audit,
and
cost
analysis.
                                                                           Output
a
list
of
potential
suppliers
meeting
                Supplier
Exit
Management
                                                                           requirements
based
on
analysis
results.
Supplier
Introduction
Management
                                                                                                                                                                                     Supplier
Qualification
Cancellation
                Supplier
Qualification
Review
                  Collect
and
verify
supplier
information
based
on
the
nature
of
the
products
to
be
procured,
ensuring
                                 The
 Procurement
 Management
 Department
 proposes
 qualification
 cancellation
 for

                  the
supplier
meets
relevant
qualification
requirements.                                                                               suppliers
 with
 no
 orders
 for
 two
 years,
 price
 fraud,
 lack
 of
 competitive
 advantage,
 or

                                                                                                                                                        failing
assessments.
                                                                                                                                                        After
review,
the
Procurement
Management
Department
cancels
their
approved
status

                Supplier
Access
Evaluation                                                                                                              and
adds
them
to
the
Qualified Supplier Cancellation List.
                  Score
suppliers
based
on
eight
dimensions:
registered
capital,
company
size,
major
customers,
price

                  competitiveness,
 financial
 risk
 assessment,
 management
 system,
 supply
 risk
 assessment,
 and

                  information
security
risk.
                  Conduct
 an
 on-site
 audit
 of
 the
 candidate
 with
 the
 highest
 composite
 score;
 if
 the
 audit
 result
 is

                  satisfactory,
designate
them
as
a
proposed
supplier
for
development.                                                                                                        Blacklist
Suppliers
                Sign
ESG-related
Agreements
                                                                                                                                                        Evaluate
suppliers
according
to
the
Procurement Management Procedures.
If
a
supplier
meets

                  Suppliers
are
required
to
sign
the
Supplier Social Responsibility, Environment, Health and Safety Commitment                          the
blacklist
criteria,
they
will
be
added
to
the
blacklist.
                  Letter, Integrity Agreement,
and
Commitment to Not Using Minerals from Areas of Conflict.
Supplier
Tiered
Management
                                                     Strategic
Suppliers
          Organize
regular
monthly
high-level
interactive
exchanges
to
deepen
collaborative
relationships.
                                                       Regular
Suppliers
                       Regular
communication
and
exchange
based
on
performance
evaluation
results.
                                                                -41-                                                                                                                                  -42-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                 2025
Sustainability
Report
Supplier
Training                                                                                                                     Supply
Chain
Due
Diligence
Kinwong
 has
 incorporated
 supplier
 training
 into
 its
 normalized
 management
 mechanism,

committing
to
empowering
partners
through
knowledge
transfer.
During
the
reporting
period,
                                                                             The
 Company
 requires
 suppliers
 to
 trace
 minerals
 in
 their
 supply
 chain,
 regularly

focusing
on
key
issues
of
compliance
operations
and
sustainable
development,
the
Company
                                                                               report
usage
and
source
information
to
the
Company
using
standardized
templates

organized
 a
 series
 of
 trainings
 for
 suppliers,
 including
 specialized
 interpretation
 of
 REACH
                                           Supplier

                                                                                                                                                 Responsibility         like
 CMRT
 and
 EMRT,
 and
 ensure
 that
 the
 smelters/refineries
 used
 have
 passed
 the

regulations
 and
 ESG
 management
 practices.
 These
 trainings
 not
 only
 strengthen
 suppliers'
                                                                     RMI's
RMAP
certification.
awareness
 of
 standardized
 operations
 and
 risk
 prevention
 capabilities
 but
 also
 lay
 a
 solid

foundation
for
promoting
green
transformation
of
the
industry
chain
and
building
a
sustain-
able
ecosystem
with
shared
responsibility.
                                                                                                                                                                        The
Company
implements
tiered
penalties.
For
general
violations,
measures
include

Supplier
Integrity
Building                                                                                                                        Supplier
            written
warnings,
corrective
actions
within
a
deadline,
suspension
of
cooperation,
up

                                                                                                                                                   Violation
           to
 blacklisting,
 and
 termination
 of
 cooperation.
 For
 major
 violations
 such
 as
 inten-
Kinwong
regards
supply
chain
integrity
as
a
crucial
cornerstone
of
long-term
cooperation,
striving
to
build
an
honest
and
                        Punishment
           tional
use
of
minerals
from
areas
of
conflict
or
document
forgery,
the
contract
will
be

transparent
 business
 environment
 through
 systematic
 measures.
 The
 Company
 regularly
 sends
 holiday
 integrity
                           Mechanism
                                                                                                                                                                        immediately
 terminated,
 and
 the
 responsible
 party
 must
 bear
 full
 legal
 liability,

communications
to
suppliers,
clarifying
requirements
for
clean
cooperation,
and
ensures
all
suppliers
sign
the
Integrity                                                ensuring
strict
compliance
with
supply
chain
commitments.
Agreement
to
regulate
the
behavior
of
both
parties
from
the
outset.
To
 strengthen
 the
 binding
 force,
 the
 agreement
 clearly
 stipulates
 handling
 mechanisms
 for
 violations.
 During
 the

                                                                                                                                           Impact,
Risk,
and
Opportunity
Management
reporting
period,
the
Company
investigated
and
handled
supplier
integrity
violations,
with
severe
cases
being
blacklisted

and
cooperation
terminated.
These
measures
reflect
our
firm
stance
of
"zero
tolerance"
towards
integrity
risks,
effectively

safeguarding
the
fair
order
and
healthy
development
of
the
supply
chain.                                                              Kinwong
 has
 established
 a
 systematic
 supply
 chain
 risk
 and
 opportunity
 identification
 and
 management
 process,

                                                                                                                                      ensuring
supply
chain
resilience
through
closed-loop
management.
    Case           Conduct
Supplier
Satisfaction
Survey
to
Promote
Supply
Chain
Synergy
Enhancement
                                                                                                                                                       Sustainable
Supply
Chain
Risk
and
Opportunity
Management
Process
and
Methods
   In
2025,
Kinwong
organized
a
two-way
supplier
satisfaction
survey
to
systematically
collect
supplier
evaluations

   and
 suggestions
 regarding
 procurement
 processes,
 cooperation
 support,
 communication
 efficiency,
 etc.
 For

                                                                                                                                                           Through
 systematic
 analysis
 of
 supply
 chain
 data,
 review
 internal
 management
 practices,
 and

   opinions
and
requests
raised
by
suppliers,
the
Company
establishes
records
and
provides
feedback
to
the
corre-
                                                                                                                                                           combine
industry
dynamics
and
relevant
laws
and
regulations
to
accurately
identify
various
risks

   sponding
internal
departments,
driving
management
improvements
and
process
optimization.
This
mechanism
                           Identification
                                                                                                                                                           that
 may
 affect
 supply
 chain
 stability,
 while
 discovering
 potential
 opportunities
 to
 enhance
 our

   promotes
the
continuous
improvement
of
our
supply
chain
management
capabilities,
while
further
consolidating

                                                                                                                                                           competitive
advantage.
   the
long-term,
mutually
trusting,
win-win
cooperative
partnership
between
the
Company
and
its
suppliers.
Conflict
Mineral
Management                                                                                                                                Conduct
 impact
 analysis
 on
 identified
 risks
 and
 opportunities,
 assessing
 their
 potential
 impact

                                                                                                                                      Assessment           level
 on
 our
 operations,
 finances,
 reputation,
 and
 stakeholders,
 as
 well
 as
 their
 likelihood
 of

Kinwong
places
high
importance
on
the
management
of
minerals
from
areas
of
conflict
and
has
established
a
responsible
                                     occurrence.
mineral
procurement
system.
The
Company
strictly
follows
the
United
Nations
Global
Compact
(UNGC),
the
OECD
Due

Diligence
Guidance,
and
the
Responsible
Business
Alliance
(RBA)
initiatives,
and
has
formulated
the
Responsible Mineral
Management Policy
 accordingly,
 clearly
 committing
 not
 to
 purchase
 or
 use
 any
 minerals
 or
 related
 raw
 materials
 from

conflict-affected
and
high-risk
areas
that
may
contribute
to
conflict,
human
rights
violations,
or
environmental
damage.
                                                                                                                                                           Based
 on
 assessment
 results,
 formulate
 and
 implement
 targeted
 management
 strategies
 and

                                                                                                                                       Impleme-
To
implement
this
policy,
the
Company
systematically
conducts
supply
chain
due
diligence,
verifies
the
compliance
of
                                      action
plans
to
achieve
risk
prevention/control
and
opportunity
realization.
                                                                                                                                        ntation
smelters
and
refineries,
and
performs
reasonable
mineral
origin
surveys.
The
Company
requires
all
cooperative
suppliers

to
sign
the
Statement on Not Using Minerals from Areas of Conflict
and
to
trace
and
declare
the
origin
of
metals
such
as
gold,

tantalum,
tin,
tungsten,
cobalt,
and
palladium
contained
in
their
products,
while
also
transmitting
this
requirement
to

their
upstream
suppliers
to
achieve
transparent
management
across
the
entire
supply
chain.
Through
these
measures,

Kinwong
is
committed
to
ensuring
that
minerals
from
the
Democratic
Republic
of
the
Congo
and
surrounding
conflict
                                         Establish
 a
 normalized
 monitoring
 mechanism
 to
 track
 risk
 management
 effectiveness
 and

regions
are
not
used
in
its
supply
chain,
effectively
fulfilling
its
social
responsibility
for
human
rights,
the
environment,
         Monitoring
         opportunity
 realization
 through
 relevant
 indicators,
 dynamically
 adjust
 strategies
 based
 on

                                                                                                                                          and

and
peace.                                                                                                                            Improvement          internal
and
external
changes,
and
promote
continuous
optimization
of
the
supply
chain
manage-
                                                                                                                                                           ment
system.
                                                               -43-                                                                                                                                -44-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                        2025
Sustainability
Report
    Metrics
and
Targets                                                                                                      Industry
Cooperation
and
Exchange
                                                                                                                            Kinwong
deeply
recognizes
the
importance
of
cooperation
and
exchange
for
the
sustainable
development
of
the
industry.

During
the
reporting
period,
our
quality
and
safety
management
targets
for
products
and
services,
and
their
achievement

                                                                                                                            The
 Company
 contributes
 professional
 expertise
 by
 participating
 in
 the
 formulation
 of
 national
 and
 group
 standards,

were
as
follows:
                                                                                                                            aiding
 the
 standardization
 of
 the
 industry.
 In
 terms
 of
 industry-university-research
 cooperation,
 the
 Company
 has

                                                                                                                            established
 linkage
 mechanisms
 with
 universities
 and
 research
 institutions
 to
 jointly
 promote
 R&D
 innovation
 and

                                                                                                                            achievement
 transformation.
 Furthermore,
 the
 Company
 actively
 participates
 in
 various
 industry
 associations
 and

  Key
Performance
                                                                                                                            technical
seminars,
sharing
its
own
practices
while
absorbing
cutting-edge
insights,
and
working
with
industry
partners

                                                                                                                            to
jointly
address
challenges
and
seize
opportunities.
    During

the

reporting

period,
    the
total
number
of
our
suppliers
was
686,
including
438
direct
suppliers
and
248
indirect
suppliers;                       Case         University-Enterprise
Cooperative
Research
to
Promote
Industry
Technology
and
Theoretical
Innovation
    we
conducted
3
supplier
training
sessions
covering
topics
such
as
specialized
interpretation
of
REACH
regula-
    tions
and
ESG
management
concepts
and
practices;                                                                         In
 2025,
 Longchuan
 Kinwong
 established
 an
 industry-university-research
 partnership
 with
 Harbin
 Institute
 of

    supplier
evaluation
coverage
rate
was
85%,
and
supplier
evaluation
pass
rate
was
95%;                                    Technology
 (Shenzhen).
 The
 two
 parties
 signed
 a
 technology
 development
 contract
 for
 the
 Basic Research on the
    suppliers¡¯
signing
rate
of
Integrity Agreement was
100%;                                                                 Mechanical Model of Shaft-through Product FPC
project.
The
project
is
advancing
in
two
phases.
The
first
phase
of
R&D
has

                                                                                                                             been
completed
and
the
corresponding
results
delivered.
The
second
phase
and
project
closure
are
expected
to
be

    the
 proportion
 of
 suppliers
 signing
 contracts
 including
 environmental
 and
 labor
 requirement
 clauses
 was

                                                                                                                             completed
in
2026.
This
cooperation
provides
key
theoretical
and
model
support
for
the
optimization
of
our
products,

                                                                                                                             demonstrating
our
continuous
efforts
to
promote
industry
R&D
and
innovation
through
industry-university-research

    the
 proportion
 of
 suppliers
 that
 have
 undergone
 environmental
 impact
 assessment
 was
 100%,
 and
 the
          collaboration.
    proportion
of
suppliers
that
have
undergone
social
impact
assessment
was
100%;
    the
number
of
suppliers
identified
as
having
actual
and
potential
significant
negative
environmental
and
social

    impacts
was   0;                                                                                                        Industry
associations
the
Company
has
joined
    suppliers¡¯
signing
rate
of
the
Statement on Not Using Minerals from Areas of Conflict
was
100%;
    the
 proportion
 of
 procurement
 personnel
 within
 the
 Company
 who
 have
 passed
 sustainable
 procurement

    training
was
100%.
                                                                                                                                            China

Printed
                        Guangdong

Printed
                        Shenzhen

Printed

                                                                                                                                         Circuit

Association                      Circuit

Association                       Circuit

Association
                                           Target                                                     Achievement
in
2025
                                                                                                                                    Energy

Storage

Application

                   Qualified
supplier
performance
appraisal
rate
100%                                      Achieved                                                              Guangdong

Integrated
                      Guangdong

Institute

                                                                                                                                    Branch

of

China

Industrial

                                                                                                                                                                              Circuit

Industry

Association                 of

Communications
                                                                                                                                   Association

of

Power

Sources
             Suppliers'
signing
rate
of
the
Commitment to Not Using Minerals from                          Achieved
                                    Areas of Conflict 100%
                                                                                                                                  Shenzhen

Artificial

Intelligence
            Shenzhen

Association
                Shenzhen

Lighting

and

Display

                                                                                                                                      Industry

Association                       of

Medical

Devices                  Project

Industry

Association
                                                                                                                                   Shenzhen

Internet

of

Things
                 Shenzhen

Memory
                    Shenzhen

Satellite

Internet

                                                                                                                                      Industry

Association                       Industry

Association                of

Things

Industry

Association
                                                            -45-                                                                                                                           -46-
                         Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                   2025
Sustainability
Report
People-Oriented,
Building
the
Future
Together
 Protection
of
Employees'
Rights
and
Interests
                                                                                                                                          The
 Company
 ensures
 that
 labor
 contracts
 are
 signed
 based
 on
 the
 principle
 of
 equality
 and
 voluntariness,
 promotes

     Compliant
Talent
Recruitment                                                                                                         diverse
employment,
focuses
on
employment
for
various
groups,
including
persons
with
disabilities,
and
provides
them

                                                                                                                                          with
equal
compensation,
benefits,
and
promotion
opportunities.
Simultaneously,
the
Company
forecasts
talent
needs

                                                                                                                                          based
on
its
strategic
plans
and
attracts
talent
through
multiple
channels
such
as
social
recruitment,
campus
recruit-
Kinwong
adheres
to
the
core
concept
of
"people
foremost,"
integrating
respect
for
and
protection
of
every
employee's

                                                                                                                                          ment,
 and
 building
 a
 database
 of
 mid-to-high-end
 industry
 talent.
 During
 the
 reporting
 period,
 the
 Company
 further

basic
rights
into
corporate
governance
and
development
strategy.
We
strictly
follow
international
human
rights
standards

                                                                                                                                          optimized
its
recruitment
system,
successfully
attracting
several
professionals
in
R&D
innovation,
market
development,

and
laws
such
as
the
Labor Law of the People's Republic of China
and
the
Labor Contract Law of the People's Republic of China.
By

                                                                                                                                          and
other
fields,
providing
solid
support
for
business
development
and
market
competitiveness.
establishing
and
continuously
improving
a
systematic
employment
management
mechanism,
we
ensure
timely
and
full

payment
of
wages,
regular
analysis
and
adjustment
of
employee
salary
levels,
compliant
arrangement
of
overtime
and

payment
of
corresponding
overtime
pay,
protection
of
employees'
rights
to
rest
and
leave,
and
provision
of
flexible
work

arrangements
such
as
working
from
home
or
remotely.
The
Company
is
committed
to
building
a
fair,
inclusive,
and
safe
working
environment.
Referring
to
the
Code of Conduct for
Responsible Business Alliance,
it
has
formulated
the
Anti-discrimination Control Procedures,
the
Prohibition of Forced and Compulsory
Labor Control Procedures,
and
the
Prohibition of Child Labor and Remediation Control Procedures,
prohibiting
all
forms
of
discrimi-                                                               Fair,
Just,
and

nation,
harassment,
forced
labor,
and
child
labor,
actively
protecting
employees'
legitimate
rights
and
interests.                                                                                Open
Principle
  Prohibition
of
Child
Labor:                    Prohibition
of
Forced
and
                   Anti-discrimination
Control:
                                                    Compulsory
Labor:
    The
 Company
 uses
 multiple
                                                             The
 Company
 explicitly
 prohibits

    verification
 mechanisms
 during
             The
 Company
 explicitly
 prohibits
        discrimination
 and
 harassment

    recruitment
 to
 identify
 age,
              confiscating
ID
documents,
corporal
        based
on
any
factors
such
as
race,
                                      Nepotism
                Talent
Recruitment
            Fixed
Post
and

                                                  punishment,
 restricting
 personal
                                                                                  Avoidance                    Principles                     Staffing
    preventing
 the
 hiring
 of
 minors
                                                      gender,
age,
religion,
or
disability
in

    under
16
years
old.
If
child
labor
is
        freedom,
 etc.,
 adheres
 to
 the
          recruitment, 
 compensation, 

    found,
 the
 Company
 will
 immedi-           principle
of
voluntary
overtime,
and
       training,
 promotion,
 and
 dismissal.

    ately
implement
complete
remedial
            has
 established
 smooth
 complaint
        We
 protect
 employees'
 freedom
 of

    measures,
including
work
stoppage,
           and
consultation
mechanisms.
The
           religious
 belief
 and
 statutory

    health
 checks,
 full
 payment
 of
           Company
 also
 extends
 relevant
           religious
 holidays,
 strictly
 prohibit

    wages,
and
safe
escort
back
home,
            requirements
 to
 business
 partners
       sexual
 harassment,
 and
 have

    while
 also
 protecting
 their
 right
 to
    through
 supplier
 management
              established
 a
 confidential
 and

    compulsory 
 education, 
 and 
               procedures,
 committing
 to
 protect
       efficient
complaint
and
investigation

    committing
 to
 fundamentally
                basic
human
rights
throughout
the
          mechanism
 to
 ensure
 timely,

                                                  entire
operational
chain.                                                                                                   Internal
Promotion
                      Person-Post

    protect
 the
 rights
 and
 interests
 of
                                                 confidential,
and
fair
handling
of
any

                                                                                                                                                                               Priority
Principle                    Matching
Principle
    minors.                                                                                   discrimination
 or
 harassment

                                                                                              incidents,
 taking
 serious
 corrective

                                                                                              actions
against
related
behaviors
to

                                                                                              safeguard
 the
 dignity
 and
 legal

                                                                                              rights
of
all
employees.
                                                                                                                                          Furthermore,
 our
 labor
 union
 committee,
 representing
 all
 employees,
 profoundly
 protects
 employees'
 rights
 and

                                                                                                                                          interests
by
signing
collective
agreements.
The
union
negotiates
with
the
Company
annually
on
matters
such
as
compen-
                                                                                                                                          sation,
 benefits,
 working
 hours,
 leave,
 and
 working
 conditions,
 making
 rights
 protection
 concrete
 and
 contractual,

                                                                                                                                          ensuring long-term
harmonious
and
stable
labor
relations.
                                                                -47-                                                                                                                                    -48-
                    Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                                                                                                                                                    2025
Sustainability
Report
Employee
Structure
as
of
the
End
of
the
Reporting
Period
                                                                                                                         Employee
Training
and
Development
                                                                                                                        The
 Company
 values
 employee
 career
 development
 and
 growth,

                       By
Gender                                                  By
Age
                                                                                                                        promoting
 the
 co-development
 of
 employees
 and
 the
 Company

                                             persons
                                                                                                                        competitive
incentive
measures.
                                                                                                                             Governance                                                                                                                                                                                                     Management
Level
   persons
                                                                                                                                                                                                                                                                                                                                               President
                                                                                                                                                                                                                                                                                                              Group
Human
Resources

                                                                  persons                                               covering
 all
 employees.
 The
 Company
 has
 formulated
 and
 imple-
                                                                                                                                                                                                                                                                                                                    Committee
                                                                                                                        mented
relevant
systems
such
as
the
Training Management Measures,
                                                                                                                        Internal Lecturer Management Regulations, Employee Mentor Management
                                                                                                                        Measures, External Training Management Regulations,
 and
 University                                                                                                                Human
Resources
Management

           Male
Employees            Female
Employees                 Under
30                    30
to
40
years
old    Graduate Training Management Regulations.
 It
 conducts
 systematic
                                                                                                                       Department
                                                                                                                        training
from
four
dimensions:
management
personnel,
profession-
                                                                                                                        theory
and
practice
to
comprehensively
improve
employees'
quality

                                                                                                                                                                                                                                                                                Talent
Cultivation
Management
Structure
                                                                                                                        and
 professional
 skills,
 providing
 solid
 talent
 support
 for
 our

                       By
Rank                                                                                          efficient
operation
and
sustainable
development.
   persons                                    488
persons                                                               Talent
Cultivation
System
of
Kinwong

                                                                                                                          Management
Talent
Cultivation                          Professional
Talent
Cultivation                                                                                                                                                               Training
Team
Building
                                                                                                                         Management
            Training
           Professional
                                               Professional
Course

              Frontline
Employees         Middle
Management                                                                 Path               Programs                 Path                                                          System
                                                                                                                            Director                               Chief
Technology

           Junior
Management
             Senior
Management                                                              General
Manager                                Officer
                                                                                                                                                                                        Marketing
&
Sales
Line
                                                                                                                                                                                                                                              Production
&
Manufacturing
Line
                                                                                                                                                                                                                                                                                  Quality
Management
Line
                                                                                                                                                                                                                                                                                                               Operations
Management
Line
                                                                                                                                                                                                                                                                                                                                                Engineering
&
Process
Line
                                                                                                                                                                                                                                                                                                                                                                                   Mentor
Team
                                                                                                                                                                                                                                                                                                                                                                                                 Internal
Trainer
Team
                                                                                                                                                                                                                                                                                                                                                                                                                         Training
Manager
Team
                                                                                                                                                                                                                      Technology
R
&
D
Line
                                                                                                                                              Evergreen
Plan
                                                                                                                         Deputy
Director                           General
Engineer
                                                                                                                         Deputy
General
                            Deputy
General

                                                                                                                            Manager                                    Engineer
 Key
Performance                                                                                                                              Headwind
Plan
                                                                                                                         Department
Head
                                                                                                                                                                     Chief
Engineer
                                                                                                                          Senior
Manager
   During

the

reporting

period,                                                                                          Manager          Green
Pine
Plan         Deputy
Chief

                                                                                                                         Deputy
Manager      (including
talent
       Engineer
   the
proportion
of
minority
ethnic
employees
was   7.55%;                                                                                      pipeline)
                                                                                                                         Senior
Supervisor                          Senior
Engineer
   the
signing
rate
of
labor
contracts
in
the
Company
was
100%;                                                             Supervisor                                 Engineer
                                                                                                                                              Green
Seedling
                                                        Frontline
Employee
Post

   the
social
insurance
coverage
rate
was
100%;                                                                            Team
Leader                             Assistant
Engineer
                                                                                                                                                   Plan                                                               Skill
Level
Assessment
   the
proportion
of
employees
covered
by
collective
bargaining
agreements
was
100%;                                                                                                                             Pre-job
Training
                                                              On-the-job

                                                                                                                                                                                                                                                                                               Certification
                                                                                                                                New
Employee
Onboarding
Training
(Campus
Hires:
Pinecone
Tribe;
Experienced
Hires:
Newcomer
Training)
                                                                                                                                                          Training
Management
System,
Training
Institution
Support
                                                           -49-                                                                                                                         -50-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                  2025
Sustainability
Report
     Strategy                                                                                                                            Impact,
Risk,
and
Opportunity
Management
Based
 on
 systematic
 identification
 and
 assessment,
 the
 Company
 clarifies
 the
 multiple
 impacts,
 related
 risks,
 and
   Based
on
the
systematic
identification
of
impacts,
risks,
and
opportunities
in
the
field
of
employee
training
and
develop-
strategic
 opportunities
 of
 employee
 training
 and
 development
 on
 its
 operations
 and
 sustainable
 development.
 By
       ment,
the
Company
has
established
targeted
management
mechanisms
and
action
systems.
Centered
on
the
identified

establishing
a
normalized
analysis
mechanism,
we
identify
the
potential
risks
of
the
current
training
system,
as
well
as
the
      risk
 and
 opportunity
 types,
 we
 integrate
 mitigation
 and
 realization
 into
 our
 overall
 talent
 strategy,
 ensuring
 dynamic

opportunities
 brought
 by
 digital
 transformation
 and
 green
 skills
 enhancement.
 We
 then
 integrate
 employee
 growth
      alignment
of
the
training
system
with
sustainable
development
goals
through
structured
and
forward-looking
resource

planning
into
our
long-term
development
strategy,
committing
to
achieving
the
common
development
of
employees
and
                 allocation
and
project
design.
the
Company.
                                                                                                                                   Response
Measures
for
Employee
Training
and
Development
Risks
Employee
Training
and
Development
Risk
List
                                                                                                                                                Risk
Type                                                   Key
Response
Measures
                                                                    Likelihood
of
    Potential
Financial

       Risk
Type                   Risk
Description                                                           Impact
Cycle
                                                                    Occurrence
2           Impact                                                                           Prohibit
 substantive
 job
 promotions
 for
 management
 positions
 without
 pipeline

                                                                                                                                                                            candidates;
                           Management
positions
lack

                           pipeline
candidates,
or
there
is
an
                                                                       Insufficient
Talent
Pipeline          Include
the
internal
talent
replenishment
ratio
for
key
positions
in
the
assessment

                                                                                      It
may
lead
to
an
                                                                    of
cadres;
                           insufficient
reserve
of
young

    Insufficient
Talent
                                                              increase
in
            Medium-term
                           talent,
which
may
lead
to
key
                                                                                                                   Set
 "success
 rate"
 and
 "retention
 rate"
 training
 goals
 for
 university
 graduates
 at

                                                                      Medium          administrative

         Pipeline          position
vacancies,
a
broken
                                                       Long-term                                                    various
job
levels
and
assign
clear
responsible
units.
                                                                                      expenses.
                           internal
talent
supply
chain,

                           hindering
business
development,

                           and
cadre
promotion.                                                                                                                             Evaluate
 effectiveness
 after
 training
 and
 follow
 up
 on
 the
 transformation
 of

                                                                                                                                                                            learning
outcomes;
                           Training
becomes
a
mere
formality,
                                                                                                              Link
training
completion
status
to
promotions
and
the
application
of
talent
review

                                                                                                                                        Substandard
Training

                           with
poor
employee
participation,
                         Low
input-output
                                                                     results;
      Substandard
                                                                                                                       Effectiveness
/
Low

                           satisfaction,
or
learning
transfer,
                       efficiency
for
labor
                                                                 Establish
clear
training
discipline
and
handle
violations
according
to
the
Reward and
         Training

                           leading
to
a
waste
of
training
res-                        costs.                                           Knowledge
Transfer
Rate
   Effectiveness
/
Low
                                               Medium                                  Medium-term                                                   Punishment Management Measures;
                           ources
and
an
inability
to
effectiv-
       Knowledge
                                                                                                                                                           Implement
 advancement
 certification
 and
 dynamic
 management
 for
 internal

                           ely
enhance
employee
job
compe-
      Transfer
Rate                                                                                                                                                         lecturers,
demote
or
disqualify
those
not
meeting
standards.
                           tency
and
organizational

                           capability.
                                                                                                                                                                            Analyze
evaluation
differences
in
talent
reviews
and
strengthen
calibration;
                           Inaccurate
or
unfair
talent
review
                                                                          Inconsistent
Promotion
             Strictly
review
the
Person-Post Matching Qualification Checklist;
                           or
person-post
matching
processes

      Inconsistent
                                                                    It
may
lead
to
an
                                     Standards                     Control
 headcount
 and
 total
 person-post
 matching
 based
 on
 "organizational

                           may
lead
to
inconsistent

       Promotion
          evaluation
criteria
for
personnel
           Low            increase
in
            Long-term                                                    weight"
to
ensure
growth
aligns
with
business
development.
       Standards           within
the
same
system,
affecting
                          administrative

                           team
morale
and
employment
                                 expenses.
                           effectiveness.
                                                                                                                                   Response
Measures
for
Employee
Training
and
Development
Opportunities
Employee
Training
and
Development
Opportunity
List
   Opportunity
Type             Opportunity
Description           Likelihood
of
       Financial
Impact       Impact
Cycle                   Opportunity
Type                                                 Key
Response
Measures
                                                                   Occurrence
                           Through
systematic
recruitment
                                                                                                                     Provide
systematic
training
for
fresh
graduates
lasting
21
months
(6+6+9);
                           and
development
of
university
                                                                                                                      Carry
out
university-enterprise
cooperation,
establish
"Kinwong
Classes"
with

  Building
a
Younger,
     graduates
and
young
talent,
res-                          Reduce
external
                                        Build
a
Younger,

                                                                                                                                                                               universities,
and
customize
the
training
of
international
talent;
   Internationalized
      erve
high-quality,
high-potential
           High         recruitment
costs,
       Long-term                 Internationalized
Talent

    Talent
Pipeline                                                                  indirectly
increase
                                                                      Implement
specialized
training
projects
to
empower
core
positions;
                           core
successors
for
the
Company,
                                                                                     Pipeline
                           ensuring
long-term
competitiven-                          revenue.                                                                                  Prioritize
 university
 graduates
 and
 young
 talent
 in
 internal
 transfers
 and

                           ess.                                                                                                                                                pipeline
selection.
                           Establishing
and
continuously
                            It
may
increase

                                                                                                                                                                               Improve
the
training
system;
                           optimizing
a
training
system,
cur-                        employee
education

                           riculum
system,
lecturer
system,
                         fund
investment
in
                                                                       Build
a
three-category
curriculum
system
covering
"General,
Professional,
and

  Systematic
Training
                                                                                                                     Systematic
Training
to

       Enhances
           and
point-based
incentive
                                the
short
term;
will
                                                                     Management"
types;
                                                                        High                                  Medium-term                 Enhance
Organizational

    Organizational
        mechanism
covering
the
entire
                            optimize
operating
                                                                       Develop
an
online
learning
platform
to
support
systematic
learning;
                                                                                                               Long-term
      Capability           career
cycle
can
systematically
                          costs,
increase
                                           Capability
                           enhance
employee
capabilities,
                           revenue
growth,
and
                                                                      Establish
internal
lecturer
remuneration,
mentor
allowance,
and
"Learning
and

                           build
a
learning
organization,
and
                       profit
margins
in
the
                                                                    Growth
Incentive
Fund".
                           support
strategy
implementation.                          medium
to
long
term.
                                                             -51-                                                                                                                                  -52-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                  2025
Sustainability
Report
Career
Development
and
Promotion
                                                                                                                                        Equity
Incentives
                                                                                                                                        To
improve
the
medium-to-long-term
incentive
mechanism
and
deeply
bind
core
talent
to
our
long-term
development,

Kinwong
has
established
a
systematic,
data-driven
employee
development
and
promotion
management
system.
Through

annual
talent
reviews,
using
performance
and
competency
as
core
dimensions,
the
Company
employs
a
nine-box
grid
tool
                   the
 Company
 held
 Board
 of
 Directors
 and
 Supervisory
 Committee
 meetings
 on
 March
 28,
 2025.
 They
 reviewed
 and

to
conduct
tiered
and
classified
assessment
and
calibration
of
employees,
accurately
identifying
high-potential
talent.
The
            approved
the
proposal
to
grant
the
reserved
portion
of
the
2024
Stock
Option
and
Restricted
Stock
Incentive
Plan
to

promotion
 mechanism
 strictly
 follows
 the
 principle
 of
 "person-post
 matching,"
 with
 organizational
 weight
 as
 the
 core
     incentive
recipients,
deciding
to
grant
 
0.83
million
stock
options
to
93
eligible
recipients
and
2.70
million
restricted

control,
and
is
dynamically
linked
to
business
growth.
Promotion
decisions
must
pass
multi-layer
reviews
and
are
subject
               shares
to
125
eligible
recipients.
to
strict
audit
via
the
Person-Post Matching Qualification Checklist,
ensuring
fairness
and
transparency.
The
Company
places

high
 importance
 on
 pipeline
 building,
 reserving
 successor
 talent
 for
 key
 positions,
 and
 implements
 accompanying
           The
Company
held
Board
of
Directors
and
Supervisory
Committee
meetings
on
July
9,
2025.
The
conditions
for
the
first

Individual
Development
Plans
(IDPs),
aiming
for
a
sustainable
win-win
situation
where
employee
career
development
and

                                                                                                                                        lock-up
period
release/exercise
period
for
the
initially
granted
restricted
shares/stock
options
under
our
2024
Stock

organizational
capability
enhancement
are
achieved
together.
                                                                                                                                        Option
 and
 Restricted
 Stock
 Incentive
 Plan
 were
 met.
 The
 number
 of
 restricted
 shares
 released
 in
 this
 round
 was

   Nine-Box
Grid
Assessment
Calibration                                                                                                 options,
with
441
eligible
incentive
recipients.
  High

                  Proficient
Employee                   Performance
Star                   Super
Star                                 Talent
Cultivation
System
  Perform-
                                                        One-job-away                       Ready-now
  ance                                                                                                                                To
build
a
systematic
talent
cultivation
system,
the
Company
officially
launched
its
online
learning
platform.
The
platform

                                                                                                                                      integrates
 full-process
 functions,
 including
 training
 plan
 formulation,
 course
 implementation,
 online
 learning,
 assess-
  Medium

                  Basically
Competent                  Core
Performer                      Potential
Star                             all
 employees.
 The
 system
 supports
 autonomous
 uploading
 and
 management
 of
 course
 resources.
 Course
 content
 is

  Perform-
                                                       Two-job-away                        One-job-away                               closely
designed
around
our
strategic
development
needs
and
various
job
competency
models,
covering
dimensions
such

  ance
                                                                                                                                      as
professional
skill
advancement,
corporate
culture
transmission,
professional
quality
improvement,
and
management

                                                                                                                                      capability
development.
It
can
provide
suitable
learning
resources
for
the
differentiated
development
needs
of
employees

  Low
                                                                                                                                at
different
levels
and
job
families.
                  Problem
Employee                      Underperformer                     Developing
Performer
  Perform-
                  (Elimination
or
Adjustment)
  ance
                                                                                                                                          Case           Systematic
Training
Empowers
Management
Echelon:

                              Low
                               Medium
                               High

                           Competence                          Competence                           Competence                            To
 meet
 the
 strategic
 development
 needs
 of
 new
 factory
 construction
 and
 overseas
 market
 expansion,
 and
 to

                                                                                                                                          systematically
 address
 the
 issue
 of
 management
 talent
 reserves,
 the
 Company
 successfully
 implemented
 the

                                                                                                                                          "Green
Pine
Plan"
youth
training
camp
series
of
management
training
in
2025.
The
project
was
carried
out
in
six

Compensation
and
Performance
Management
                                                                                                                                          phases
 from
 March
 to
 December,
 empowering
 over
 70
 middle
 and
 senior
 managers
 and
 core
 personnel.
 The

                                                                                                                                          curriculum
 focused
 on
 key
 dimensions
 such
 as
 process
 management,
 financial
 thinking,
 data
 analysis,
 team

                                                                                                                                          motivation,
and
cadre
standards,
adhering
to
a
deep
integration
of
theory
and
practice.
The
training
significantly

                                                                                                                                          improved
the
comprehensive
management
capabilities
of
the
participants,
strengthened
internal
consensus
on

 Kinwong
has
established
a
comprehensive
compensation
system
centered
on
job
value
and
performance
contribu-
 tion,
 standardized
 through
 systems
 such
 as
 the
 Individual Performance Management Regulations,
 Monthly Paid Employee              corporate
culture
and
cadre
standards,
optimized
the
existing
cadre
structure,
effectively
transformed
individual

 Compensation Management Measures,
and
Hourly Paid Employee Compensation Management Measures,
aiming
to
promote
the
                      capability
 enhancement
 into
 organizational
 capability
 accumulation,
 and
 laid
 a
 solid
 talent
 foundation
 for
 our

 common
development
of
the
organization
and
employees
through
effective
incentives.
The
system
consists
of
fixed
                         sustainable
development
and
long-term
strategic
goals.
 and
variable
compensation,
adhering
to
the
principle
of
pay-for-performance,
closely
linking
variable
compensation

 to
individual
and
company
performance.
For
frontline
production
personnel,
the
compensation
model
adopts
"basic

 salary
 +
 skill
 allowance
 +
 performance
 bonus,"
 with
 skill
 allowances
 achieving
 full
 coverage.
 The
 Company
 strictly

 complies
 with
 national
 labor
 laws
 and
 regulations
 and
 implements
 a
 standard
 working
 hour
 system.
 Overtime

 requires
 employee
 consent
 and
 is
 compensated
 strictly
 according
 to
 legal
 standards,
 with
 strict
 monitoring
 and

 management
of
overtime
hours.
 Furthermore,
the
Individual Performance Management Regulations
clearly
stipulate
that
when
employees
have
objections

 to
 performance
 appraisal
 results,
 they
 are
 encouraged
 to
 first
 communicate
 and
 resolve
 the
 issue
 through
 perfor-
 mance
feedback
interviews
with
their
direct
supervisors.
If
communication
fails,
employees
have
the
right
to
submit
a

 written
 appeal
 form
 to
 the
 next-level
 leader
 or
 the
 Human
 Resources
 department.
 We
 promise
 that
 within
 three

 working
days
of
receiving
an
appeal,
the
relevant
department
will
provide
feedback
on
the
handling
based
on
a
full

 understanding
of
the
facts.
If
significant
disputes
regarding
the
handling
result
remain,
the
final
decision
will
be
made

 by
the
Department
Director,
Factory
General
Manager,
or
Business
Unit
General
Manager,
with
the
process
completed

 and
results
feedback
provided
within
five
working
days.
                                                               -53-                                                                                                                                  -54-
                  Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                               2025
Sustainability
Report
              New
Talent
Set
Sail,
Empowering
Growth:
                                                                                               International
Talent
Cultivation
Project:

 Case         2025
"Pinecone
Tribe"
Fresh
Graduate
Specialized
Training
Program
Launched                                                Case         Systematically
Building
a
Talent
Support
System
under
the
Globalization
Strategy
In
July
2025,
to
support
fresh
graduates
in
successfully
                                                                             During
the
reporting
period,
the
Company
fully
launched
a
systematic
international
talent
cultivation
project
to

transitioning
from
campus
to
the
workplace,
quickly
integrat-                                                                         address
the
talent
needs
brought
by
overseas
market
expansion.
The
project
precisely
focuses
on
seven
categories

ing
into
the
organization,
and
meeting
job
requirements,
the
                                                                         of
core
positions,
aiming
to
build
an
international
talent
echelon
possessing
excellent
professional
skills,
fluent

Company
officially
launched
the
21-month
(6+6+9)
"Pinecone
                                                                           foreign
language
communication
abilities,
and
a
high
degree
of
professionalism.
The
training
process
innovatively

Tribe"
specialized
training
program.
The
project
innovatively
                                                                        integrates
multiple
models
such
as
real
customer
practice,
AI
oral
English
situational
exercises,
and
senior
mentor

adopted
the
"669"
training
model
and
planned
three
clear
                                                                             guidance,
supplemented
by
a
full-process
management
mechanism
including
monthly
point
announcements
and

milestones
for
job
level
promotion
and
salary
increase.
                                                                              phased
assessments.
Through
this
training
project,
the
Company
continuously
provides
solid
talent
support
to

Training
content
covered
corporate
culture
introduction,
                                                                             enhance
its
global
market
competitiveness.
centralized
lectures,
team
building,
and
production
line

internships,
supplemented
by
activities
such
as
knowledge

competitions.
The
Company
aims
to
systematically
enhance

the
practical
business
abilities
and
comprehensive
profes-
sional
qualities
of
fresh
graduates,
helping
them
steadily
grow

into
stable,
high-performing
employees
that
meet
our

development
needs,
and
injecting
fresh
blood
into
the
talent

pipeline
construction.
                                                                           Team
Building
              Precision
Delivery
Special
Training
Camp:
                                                               New
Talent
Set
Sail,
Empowering
Growth:

 Case         Specially
Empowering
Team
Transformation
to
Drive
Customer
Value
Enhancement                                               Case
                                                     From
March
to
December
2025,
the
Company
implemented
the
                        From
November
to
December
2025,
the
Information

                                                     "Precision
Delivery
Special
Training
Camp"
project
for
37
core
                  Management
Department
coordinated
the
third

                                                     members
and
delivery
representatives
of
the
Order
Fulfillment
                   session
of
the
"BI
Data
Analysis
and
Visualization

                                                     Department
within
the
Marketing
Management
Center.
The
                          Empowerment
Camp."
The
project
was
based
in

                                                                                                                                      Shenzhen
as
the
main
venue,
simultaneously
covering

                                                     project
innovatively
adopted
a
model
where
internal
business

                                                                                                                                      multiple
production
bases
in
Longchuan
Kinwong
and

                                                     experts
and
outstanding
trainees
jointly
formed
the
lecturer

                                                                                                                                      Jiangxi
Kinwong,
targeting
middle
and
senior

                                                     team,
ensuring
training
content
closely
addressed
business

                                                                                                                                      managers
and
data
analysis
personnel.
Through
a

                                                     pain
points
and
practical
scenarios.
By
implementing
the
"dual
                  phased
systematic
design,
the
training
integrated

                                                     responsibility
system"
and
practical
teaching
of
seven
core
                     analytical
thinking
development,
BI
tool
practice,
real-
                                                     modules,
the
project
systematically
guided
delivery
personnel
                   case
exercises,
and
group
competitions,
effectively

                                                     to
evolve
from
passive
execution
to
the
proactive
role
of
                       promoting
the
translation
of
theory
into
practice.
This

                                                     "customer
managers."
The
training
effectively
promoted
the
                      session
successfully
cultivated
over
40
core
talent
with

                                                     two-way
empowerment
of
individual
capabilities
and
                              key
data
analysis
and
visualization
capabilities,

                                                     organizational
knowledge,
creating
a
delivery
team
that
is
                      significantly
enhancing
the
digital
decision-making

                                                     "united,
efficient,
professional,
and
professionalized,"
                        mindset
of
management
and
the
analytical
implemen-
                                                                                                                                      tation
capability
of
the
frontline,
solidifying
the
talent

                                                     transforming
process
optimization
results
into
higher
cus-                                                                                            BI
Data
Analysis
and
Visualization
Empowerment

                                                                                                                                      foundation
for
our
continuous
advancement
of
digital

                                                     tomer
satisfaction
and
sustainable
market
competitive
                                                                                                Camp
Classroom
Snapshot
                                                     advantage.
                                                         -55-                                                                                                                                       -56-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                           2025
Sustainability
Report
University-Enterprise
Cooperation                                                                                                                                               Target                                                  Achievement
in
2025
                                                                                                                                                                    Recruitment
timeliness
rate
95%                                          Achieved
The
Company
has
established
stable
cooperative
relationships
with
41
universities
and
colleges
nationwide,
forming

talent
supply
channels
covering
different
educational
levels.
Among
these,
it
has
in-depth
cooperation
with
18
institu-                               The
turnover
rate
of
key
position
talent
not
exceeding
10%                             Achieved
tions
 and
 has
 set
 up
 targeted
 "Kinwong
 Classes"
 in
 6
 institutions,
 continuously
 supplying
 suitable
 and
 high-quality

skilled
talent
for
our
development.                                                                                                                            Assessment
pass
rate
not
less
than
50%                                        Achieved
     Case          University-Enterprise
Collaborative
Education:
Implementing
Customized
"Kinwong
Class"
Training
                                                                                                                                       Employee
Benefits
and
Care
   In
2025,
Kinwong
cooperated
with
Changsha
University
and
Hubei
University
of
Automotive
Technology
to
carry

   out
 the
 "Kinwong
 Class"
 collaborative
 education
 project.
 The
 Company
 organized
 a
 team
 of
 internal
 technical

   experts
and
business
lecturers
to
implement
systematic,
customized
training
combining
theory
and
practice
for
                     Democratic
Communication
   about
90
students,
focusing
on
core
PCB
manufacturing
processes
and
professional
qualities.
After
the
training,
40

   outstanding
 students
 successfully
 entered
 our
 various
 production
 bases
 for
 on-the-job
 internships,
 further

   connecting
 the
 integrated
 talent
 cultivation
 pathway
 of
 "on-campus
 training
 -
 enterprise
 practice
 -
 merit-based

   employment.¡±                                                                                                                        To
implement
democratic
management
and
protect
employees'
legitimate
rights
and
interests,
Kinwong
has
estab-
                                                                                                                                       lished
a
normalized
collective
bargaining
mechanism
and
communication
channels.
In
accordance
with
relevant
laws

                                                                                                                                       and
regulations,
the
Company
established
a
labor
union
and
the
supporting Labor Union Management Measures,
making

                                                                                                                                       it
an
important
link
for
employees
to
participate
in
corporate
governance.
The
union
closely
focuses
on
our
production

                                                                                                                                       and
operations,
effectively
fulfilling
its
basic
duty
of
protecting
employees'
legitimate
rights
and
interests,
actively

                                                                                                                                       playing
its
role
in
organizational
participation
in
democratic
management
and
supervision,
effectively
coordinating

                                                                                                                                       labor
relations,
promoting
harmonious
company
development,
and
fostering
the
common
healthy
development
of

                                                                                                                                       the
Company
and
its
employees.
                    "Kinwong
Class"
for
Changsha
University
and
Hubei
University
of
Automotive
Technology
                                                                                                                                       Organizational
Structure
of
the
Labor
Union
                                                                                                                                                                                           Chairman
of
the

                                                                                                                                                                                            Labor
Union
     Metrics
and
Targets
                                                                                                                                                                                            Vice
Chairman

During
the
reporting
period,
our
employee
training
and
development
targets
and
their
achievement
were
as
follows:                                                                         of
the
Labor
Union
   Key
Performance
                                                                                                                                          Labor
        Workplace                     Women
           Financial
   Organizational    Finance
     Publicity

                                                                                                                                                                        Dietary
                                       
Activity
                                                                                                                                        Mediation
       
Safety                      Workers'
          Audit
      
Committee
     Committee
   Committee
                                                                                                                                                                       Committee
    During
the
reporting
period                                                                                                         Committee      
Committee                    Committee        Committee        Member         Member       
Member
    The
Company
newly
recruited
7,088
employees;
    Total
employee
training
hours
were
approximately
544,199
hours,
a
year-on-year
increase
of
219.74%;
    The
total
number
of
employees
participating
in
training
was
19,789,
achieving
a
training
coverage
rate
of
96%,
                     Key
Performance
    with
total
training
expenses
of
RMB
2.76
million;
    A
total
of
372
internal
lecturers
were
certified.                                                                                    As
of
the
end
of
the
reporting
period,
the
total
number
of
union
members
was
 17,067,
and
 18
Employees'

                                                                                                                                         Congresses
were
held.
                                                               -57-                                                                                                                              -58-
                        Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                         2025
Sustainability
Report
Employee
Benefits
System                                                                                                                      Employee
Satisfaction
Survey
The
Company
is
committed
to
building
a
comprehensive,
multi-level,
and
warm
employee
benefits
and
care
system,
                               Kinwong
 firmly
 believes
 that
 an
 excellent
 organizational
 climate
 and
 employee
 engagement
 are
 key
 drivers
 of
 our

aiming
 to
 effectively
 protect
 employee
 rights,
 improve
 work
 and
 life
 quality,
 and
 enhance
 employees'
 sense
 of
                 sustainable
 
 development.
 The
 Company
 conducts
 an
 annual
 organizational
 climate
 survey
 targeting
 all
 employees,

belonging
and
organizational
cohesion.                                                                                                        covering
factors
such
as
work
recognition,
personal
care,
encouragement
for
development,
valuing
opinions,
progress

                                                                                                                                              recognition,
and
learning
&
growth.
In
2025,
our
employee
satisfaction
survey
covered
over
19,000
employees
across
the

Employee
Benefits                                                                                                                             Group,
achieving
a
questionnaire
response
rate
of
96%.
The
results
show
that
our
overall
climate
average
score
increased

                                                                                                                                              to
 4.04
 (on
 a
 5-point
 scale),
 achieving
 growth
 for
 three
 consecutive
 years
 and
 reaching
 the
 "energizing"
 organization

                                                                                                                                              standard,
with
a
particularly
significant
increase
in
frontline
employee
satisfaction.The
survey
results
also
indicate
room

   Statutory
Benefits                                                                                                                         for
 continuous
 improvement
 in
 areas
 such
 as
 employee
 care,
 work
 recognition,
 and
 development
 encouragement.
 In

                                                                                                                                              response,
 the
 Company
 has
 formulated
 targeted
 improvement
 plans
 across
 the
 Group
 and
 incorporated
 relevant

    All
 Employees:
 Pension
 insurance,
 medical
 insurance,
 work-related
 injury
 insurance,
 
 unemployment
                              improvements
 into
 the
 annual
 key
 tasks
 of
 various
 departments
 to
 promote
 continuous
 optimization
 of
 the
 organiza-
    insurance,
maternity
insurance,
housing
provident
fund,
and
statutory
holidays.                                                           tional
climate
and
consolidate
its
talent
competitiveness.
    Female
Employees:
Maternity
leave,
paid
parental
leave,
and
pregnancy
termination
leave.
  Non-statutory
Benefits
    Equity
 incentives,
 team
 building,
 cultural
 and
 sports
 activities,
 education
 and
 training,
 annual
 health

    checkups,
 holiday
 bonuses,
 birthday
 bonuses,
 congratulatory
 and
 condolence
 payments,
 meal
 subsi-
    dies,
free
shuttle
buses,
employee
dormitories
and
electricity
subsidies,communication
subsidies,
etc.
  Personal
Pension
Plan
    Employees
who
go
through
retirement
or
resignation
procedures
upon
reaching
the
legal
retirement
age

    receive
a
certain
amount
of
retirement
gift
money
based
on
their
pre-retirement
position.                                                                                                           3.90points


Employee
Grievance
and
Protection
Kinwong
has
always
placed
employee
rights
and
the
construction
of
diversified
communication
channels
in
an
important

position.
The
Company
has
formulated
the
Report and Complaint Management Measures,
which
are
based
on
the
core
princi-
                                                                                                                                              Employee
Hardship
Assistance
ples
of
fairness,
importance,
and
confidentiality,
aiming
to
standardize
internal
and
external
supervision
channels,
ensure

                                                                                                                                              Kinwong
has
established
a
systematic,
multi-tiered
employee
hardship
assistance
mechanism.
The
Group
Labor
Union

operational
 compliance,
 and
 protect
 the
 rights
 and
 interests
 of
 stakeholders.
 The
 Human
 Resources
 Management

                                                                                                                                              coordinates
the
establishment
of
an
Employee
Hardship
Assistance
Center,
with
branch
associations
and
groups
set
up
at

Department,
as
the
coordinating
unit,
is
responsible
for
maintaining
diversified
grievance
channels,
including
hotlines,

                                                                                                                                              each
base
and
business
unit,
forming
a
three-tier
management
network
covering
the
entire
Group
to
ensure
assistance

mailboxes,
emails,
and
face-to-face
meetings,
and
ensures
that
each
complaint
or
report
is
registered,
triaged,
investi-
                                                                                                                                              work
is
standardized
and
timely.
The
Company
strictly
follows
the
system
for
application
review
and
fund
management,

gated,
 and
 feedback
 is
 provided,
 forming
 a
 closed
 management
 loop.
 The
 system
 clearly
 distinguishes
 the
 scope
 of

                                                                                                                                              and
 regularly
 discloses
 fund
 usage
 to
 all
 employees,
 reflecting
 genuine
 care
 for
 employee
 welfare
 and
 management

acceptance
 for
 different
 natures
 of
 issues,
 including
 employee
 rights,
 management
 behavior,
 business
 ethics,
 and

                                                                                                                                              transparency.
violations
of
laws
or
discipline,
and
is
supported
by
standardized
procedures
ranging
from
investigation
and
verification
to

reward/punishment
handling
and
follow-up
on
corrective
actions.
                                                                                                                                                 Key
Performance
Simultaneously,
 the
 Company
 has
 formulated
 and
 implemented
 the
 Whistleblower Protection System,
 applicable
 to
 all

employees.
 The
 Audit
 and
 Supervision
 Department
 is
 responsible
 for
 managing
 reporting
 work.
 The
 Company
 has

                                                                                                                                                  During

the

reporting

period,
established
a
multi-channel
reporting
system
including
phone,
email,
and
WeChat
Work
column,
supporting
both
real-
                                                                                                                                                  the
number
of
employees
assisted
through
hardship
programs
was
 59,
with
a
total
of
RMB
 0.95
million in

name
and
anonymous
reporting,
giving
priority
to
real-name
reports
and
those
with
clear
evidence.
Adhering
to
principles

                                                                                                                                                  assistance
funds
distributed.
of
 legal
 protection
 and
 full
 confidentiality,
 retaliation
 is
 strictly
 prohibited.
 Whistleblower
 information
 is
 kept
 strictly

confidential.
Rewards
are
given
for
verified
and
effective
reports,
and
zero
tolerance
is
applied
to
violations,
with
account-
ability
pursued
according
to
regulations.
                                                                  -59-                                                                                                                                        -60-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                       2025
Sustainability
Report
Employee
Care
                                                                                                                                  Case          "Little
Kinwonger"
Corporate
Culture
Day:
Promoting
Employee
Family
Integration
and
Identification
Kinwong
consistently
adheres
to
the
philosophy
of
people
foremost.
Through
various
means
such
as
health
care
activities,

creating
 a
 family-friendly
 workplace
 environment,
 and
 implementing
 transparent
 logistics
 management,
 it
 integrates

humanistic
care
into
employee
health,
life,
and
work
scenarios,
continuously
enhancing
employees'
sense
of
belonging,
           In
August
2025,
Kinwong
successfully
held
the

security,
and
happiness,
laying
a
solid
humanistic
foundation
for
our
sustainable
development.                                   "Little
Kinwonger"
Corporate
Culture
Day

                                                                                                                                 event
at
its
Shenzhen
headquarters.
The
event

                                                                                                                                 invited
67
employees'
children
into
the

                                                                                                                                 Company,
vividly
showcasing
our
develop-
                                                                                                                                 ment
history
and
cultural
values
through

    Case        Zhuhai
Kinwong
"Love
Health"
Action:
Building
a
New
Paradigm
for
Occupational
Health
Management                  carefully
designed
activities
such
as
showroom

                                                                                                                                 tours,
fun
corporate
knowledge
classes,
and

                                                                                                                                 interactive
games.
This
not
only
provided

   In
January
and
February
2025,
to
effectively
safeguard
employee
physical
and
mental
health,
Zhuhai
Kinwong,
in

                                                                                                                                 valuable
parent-child
interaction
experiences

   collaboration
with
local
professional
medical
institutions,
launched
the
"Love
Health"
special
action.
The
activity

                                                                                                                                 for
employee
families
but
also
effectively

   focused
 on
 the
 early
 prevention
 of
 ten
 common
 cancers,
 systematically
 enhancing
 employee
 health
 awareness

                                                                                                                                 promoted
family
members'
understanding
and

   through
 science
 lectures,
 screening
 questionnaires,
 and
 on-site
 free
 clinics.
 On-site
 services
 included
 blood

                                                                                                                                 identification
with
the
Company.
This
activity

   pressure
and
blood
glucose
testing,
occupational
health
consultations,
and
TCM
therapies
such
as
acupuncture

                                                                                                                                 is
an
important
measure
for
the
Company
to

   and
cupping
for
office
workers,
effectively
alleviating
occupational
strain.
This
initiative
transformed
the
"people

                                                                                                                                 build
a
family-friendly
work
environment
and

   foremost"
philosophy
into
tangible
health
benefits,
creating
a
secure
and
healthy
work
environment
for
employ-
                                                                                                                                 practice
employee
care,
further
consolidating
a

   ees.
The
Company
plans
to
normalize
such
health
promotion
activities
to
continuously
improve
the
employee
care

                                                                                                                                 harmonious
and
warm
internal
organizational

   system.                                                                                                                                                                                          "Little
Kinwonger"
Corporate
Culture
Day
                                                                                                                                 climate.
                                                                                                                                  Case          "Sunshine
Kitchen"
Open
Day:
Transparent
Management
Builds
Food
Safety
and
Employee
Trust
                                            Zhuhai
Kinwong¡¯s
"Love
Health"
Action                                                In
September
2025,
Longchuan
Kinwong
launched
the

                                                                                                                                 "Sunshine
Kitchen,
Healthy
Together"
canteen
kitchen

                                                                                                                                 open
day
event.
The
event
invited
employee
represen-
                                                                                                                                 tatives
 to
 inspect
 the
 kitchen
 operations
 on-site,

                                                                                                                                 systematically
 demonstrating
 the
 standardized

                                                                                                                                 management
 of
 the
 entire
 process,
 from
 ingredient

                                                                                                                                 access
 and
 pesticide
 residue
 testing
 to
 automated

                                                                                                                                 cleaning,
cooking,
and
dishware
sterilization.
Through

                                                                                                                                 face-to-face
communication,
the
Company
extensively

                                                                                                                                 collected
 employee
 opinions
 and
 promoted
 continu-
                                                                                                                                 ous
improvement.
This
activity
not
only
strengthened

                                                                                                                                 employee
confidence
in
food
safety
but
also
served
as

                                                                                                                                 an
 important
 measure
 for
 the
 Company
 to
 practice

                                                                                                                                 "people
foremost"
and
build
an
open
and
transparent

                                                                                                                                 management
 culture.
 A
 normalized
 participation

                                                                                                                                 mechanism
 will
 be
 formed
 in
 the
 future
 to
 continu-
                                                                                                                                 ously

improve

the

logistics

service

system.
                                                                                                                                                                                                   Longchuan
Kinwong
"Sunshine
Kitchen"
open
day
                                                             -61-                                                                                                                          -62-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                                   2025
Sustainability
Report
The
 Company
 places
 high
 importance
 on
 the
 rights
 protection
 and
 career
 development
 of
 female
 employees,
 strictly

                                                                                                                                        As
of
the
end
of
the
reporting
period,
Kinwong
and
its
operating
production
bases
had
all
passed
the
occupational
health

implementing
relevant
national
regulations,
providing
statutory
leaves
such
as
maternity
leave,
paid
parental
leave,
and

pregnancy
termination
leave,
and
guaranteeing
breastfeeding
time
and
break
rights.
On
this
basis,
the
Company
regularly
                and
safety
management
system
certification
and
obtained
certificates.
organizes
 thematic
 care
 activities
 for
 women
 on
 specific
 festivals.
 To
 effectively
 support
 breastfeeding
 employees,
 we

have
set
up
fully-equipped
mother
and
baby
rooms
in
office
premises,
furnished
with
diaper
changing
tables,
microwaves,

direct
drinking
hot
water,
etc.,
providing
a
safe,
private,
and
convenient
care
space,
demonstrating
meticulous
care
for
the

physical
and
mental
health
of
female
employees
through
concrete
actions.
                  Special
Health
Screening
for
Female
Employees:

    Case          Implementing
Health
Rights
Protection
and
In-depth
Care
   In
 November
 2025,
 Jiangxi
 Kinwong,
 together
 with
 the

   County
 Federation
 of
 Trade
 Unions
 and
 the
 Maternal
 and

   Child
 Health
 Hospital,
 organized
 a
 special
 "two
 cancers"

   (breast
 and
 cervical
 cancer)
 screening
 activity
 for
 female

   employees.
 Following
 careful
 preparation
 and
 systematic

   publicity
 and
 on-site
 guidance,
 the
 activity
 orderly
 com-
   pleted
 medical
 examination
 items
 such
 as
 gynecological

   exams
 and
 breast
 checks,
 with
 professional
 medical
 staff

   providing
personalized
health
guidance.
This
activity
was
a

   concrete
 practice
 of
 the
 Company
 implementing
 special

   labor
protection
for
female
employees
and
providing
health

   care,
 effectively
 enhancing
 employees'
 health
 awareness

   and
 sense
 of
 belonging.
 In
 the
 future,
 the
 Company
 will

   continuously
 improve
 employee
 health
 management

   measures,
 solidifying
 the
 development
 philosophy
 of

                                                                            "Two
Cancers"
(Breast
and
Cervical)
Screening

   people
foremost.
                                                                            Activity
for
Female
Employees
                                                                                                                                                    Ganzhou
Kinwong
                                       Shenzhen
Kinwong
                                Longchuan
Kinwong

                                                                                                                                                                                                                                                                   L
                                                                                                                                                                                                                                                                   o
                                                                                                                                                                                                                                                                       n
                                                                                                                                                                                                                                                                           g
                                                                                                                                                                                                                                                                           c
                                                                                                                                                                                                                                                                               h
                                                                                                                                                                                                                                                                                   u
                                                                                                                                                                                                                                                                                       a
                                                                                                                                                                                                                                                                                       n
                                                                                                                                                                                                                                                                                           
K
                                                                                                                                                                                                                                                                                                in
                                                                                                                                                                                                                                                                                                     w
                                                                                                                                                                                                                                                                                                         o
                                                                                                                                                                                                                                                                                                             n
                                                                                                                                                                                                                                                                                                                 g
                                                                                                                                                                                                                                                                                                                 

                                                                                                                                                             G
                                                                                                                                                                 a
                                                                                                                                                                 n
                                                                                                                                                                     z
                                                                                                                                                                     h
                                                                                                                                                                         o
                                                                                                                                                                             u
                                                                                                                                                                                 
K
                                                                                                                                                                                      in
                                                                                                                                                                                           w
                                                                                                                                                                                               o
                                                                                                                                                                                                   n
                                                                                                                                                                                                       g
                                                                                                                                                                                                       

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                                                                                                                                                                                                                h
                                                                                                                                                                                                                    e
                                                                                                                                                                                                                    n
                                                                                                                                                                                                                        z
                                                                                                                                                                                                                        h
                                                                                                                                                                                                                            e
                                                                                                                                                                                                                            n
                                                                                                                                                                                                                                
K
                                                                                                                                                                                                                                     in
                                                                                                                                                                                                                                          w
                                                                                                                                                                                                                                              o
                                                                                                                                                                                                                                                  n
                                                                                                                                                                                                                                                      g
                                                                                                                                                                                                                                                      

  Occupational
Health
and
Safety
The
 Company
 has
 established
 a
 systematic,
 standardized
 occupational
 health
 and
 safety
 management
 system,
 strictly

following
the
ISO
45001:2018
international
standard.
This
system
is
centered
on
the
clear
commitment
and
leadership
of

top
 management,
 coordinated
 and
 advanced
 by
 a
 dedicated
 management
 body,
 with
 safety
 responsibilities
 clearly

delegated
 to
 various
 levels
 and
 functional
 departments
 through
 policies.
 The
 Company
 places
 high
 importance
 on

substantive
employee
participation,
ensuring
employees
play
a
role
in
key
processes
such
as
hazard
identification
and
risk

control.
The
system
forms
a
closed
loop
with
comprehensive
operational
controls,
emergency
preparedness,
performance

evaluation,
 and
 continuous
 improvement
 mechanisms,
 achieving
 full-process
 management
 from
 decision-making
 to

execution
and
from
prevention
to
improvement,
committed
to
creating
and
continuously
optimizing
a
safe
and
healthy

working
environment
for
all
employees.
                                                                 Establish
a
Healthy
and
Safe
Work
Environment
                                                                  Comply
with
Laws,
Regulations,
and
Standards
            Occupational

              Health
and                                          Continuously
Improve
Health
and
Safety
Risks
            
Safety
Policy
                                                                                                                                                      Zhuhai
Kinwong
                                       Jiangxi
Kinwong
                              Zhuhai
Kinwong

Flexible
                                                                 Train
and
Promote
Health
and
Safety
Knowledge
                                                                Regular
Review
Ensures
Effective
Implementation
                                                               -63-                                                                                                                                            -64-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                              2025
Sustainability
Report
In
2025,
the
Company
continuously
improved
its
risk
identification
and
hazard
investigation
mechanisms,
strengthened

                                                                                                                                  To
effectively
ensure
employee
safety
and
health,
the
Company
continuously
improves
its
occupational
health
and
safety

employee
safety
training
and
physical/mental
health
monitoring,
and
fully
implemented
the
work
safety
responsibility

                                                                                                                                  management
system.
system.
In
the
future,
we
will
continue
to
promote
the
systematic
operation
and
continuous
improvement
of
the
safety

management
system,
effectively
ensuring
the
health
and
safety
of
every
employee.
  Key
Performance
   During

the

reporting

period,
   all
 occupational
 health
 and
 safety
 related
 targets
 were
 fully
 achieved:
 0
 fires,
 explosions,
 or
 major
 safety
       Healthy
and
Safe
Environment
Construction                                  Risk
Control
and
Emergency
Response
   accidents
throughout
the
year,
zero
new
occupational
disease
cases,
and
the
occupational
health
examination

   coverage
rate
for
employees
exposed
to
occupational
hazards
and
the
completion
rate
for
safety
hazard
rectifica-
                                                                                                                                         The
Company
is
committed
to
providing
a
                               The
 Company
 has
 established
 a
 dual

   tion
both
reached
100%.                                                                                                               healthy
and
safe
working
environment
for
                              prevention
 mechanism
 for
 risk
 control
 and

                                                                                                                                         all
 employees
 and
 related
 parties,
                                hazard
 identification
 and
 management,

                                                                                                                                         continuously
 optimizing
 basic
 conditions
                           systematically
 identifying
 hazards
 and

                                                                                                                                         such
 as
 plant
 ventilation,
 lighting,
 noise,
                      formulating
 targeted
 emergency
 plans,

                                                                                                                                         and
 chemical
 management
 to
 ensure
                                 enhancing
 emergency
 response
 capabilities

                  Mental
Health
Science
Lecture:

   Case           Building
a
Support
System
for
Workplace
Psychological
Resilience                                                       compliance
 with
 national
 standards.

                                                                                                                                                                                                                through
 regular
 drills.
 Strictly
 implement
 a

                                                                                                                                                                                                                system
 of
 regular
 equipment
 inspection
 and

                                                                                                                                         Through
 regular
 employee
 health
 check-
                                                                                                                                                                                                                maintenance,
encourage
employee
participa-
                                                                                                                                         ups
 and
 systematic
 safety
 training,
 it

                                                                                                                                                                                                                tion
 in
 safety
 supervision,
 and
 establish

  In
 July
 2025,
 Zhuhai
 Kinwong,
 together
 with
 the
                                                                                continuously
enhances
all
employees'
risk
                             reporting
 channels.
 The
 Company
 incorpo-
  Zhuhai
Federation
of
Trade
Unions,
specially
invited
a
                                                                                awareness
 and
 emergency
 response
                                   rates
 occupational
 health
 and
 safety

  psychiatrist
 from
 the
 Fifth
 Affiliated
 Hospital
 of
 Sun
                                                                         capabilities,
 building
 a
 long-term
 mecha-                          performance
 into
 performance
 assessments,

  Yat-sen
University
to
hold
a
staff
physical
and
mental
                                                                                nism
 for
 prevention-oriented
 safety
                                driving
 continuous
 management
 improve-
  health
 science
 lecture
 on
 the
 theme
 "The
 Hidden
                                                                                management.                                                            ment.
  Killers
 at
 Work-Anxiety
 and
 Depression."
 Through

  professional
data
analysis
and
case
studies,
the
lecture

  helped
 employees
 scientifically
 understand
 common

  psychological
 problems
 and
 learn
 practical
 stress
                                                                         Work
Safety
Measures
  adjustment
 methods.
 This
 activity
 was
 a
 specific

  measure
for
the
Company
to
improve
its
comprehen-                                                                                   Comprehensive
Occupational
Health
and
Safety
Management
System:
  sive
 employee
 care
 system
 and
 actively
 build
 a

  supportive
 workplace
 environment,
 aiming
 to
                                                                                  The
Company
has
established
an
occupational
health
and
safety
management
system
based
on
the
ISO
45001:2018

  enhance
 employee
 psychological
 well-being
 and

                                                                                                                                    framework,
formulating
and
strictly
implementing
core
policies
such
as
the
Group Safety Manual, Occupational Health and
  support
 the
 establishment
 of
 harmonious
 and
 stable

                                                                          "The
Hidden
Killers
at
Work
-
Anxiety
and
                Safety Management Manual,
and
Hazard Identification, Risk Assessment, and Control Procedures.
It
clarifies
safety
management

  labor
relations.
                                                                          Depression"
Themed
Health
Science
Lecture                 responsibilities
at
all
levels
and
systematically
drives
the
Plan-Do-Check-Act
(PDCA)
cycle.
                                                                                                                                      Systematic
Risk
Prevention
and
Control:
                  Occupational
Health
Examination:

   Case           Systematically
Ensuring
Employee
Occupational
Safety
and
Well-being                                               Systematically
identify
and
control
risks
through
daily
safety
officer
patrols,
monthly
management
inspections,
and

                                                                                                                                    regular
 testing
 by
 third-party
 professional
 institutions
 (e.g.,
 annual
 testing
 and
 evaluation
 of
 occupational
 hazard

                                                                                                                                    factors).
 Fully
 equip
 exposure
 positions
 with
 personal
 protective
 equipment
 such
 as
 noise-reducing
 earplugs
 and

  In
 August
 2025,
 Longchuan
 Kinwong
 organized
 its

                                                                                                                                    protective
suits,
and
deploy
sufficient
emergency
facilities
like
first-aid
kits
and
eyewash
stations
throughout
the
plant.
  annual
 occupational
 health
 examination
 activity.
 The

  activity
 covered
 core
 items
 such
 as
 blood
 routine,

                                                                                                                                      Continuously
Improved
Emergency
Response
and
Assurance
Capability:
  ultrasound,
ECG,
and
chest
X-ray,
and
provided
special

  screening
 for
 employees
 in
 positions
 exposed
 to

                                                                                                                                    The
 Company
 regularly
 organizes
 emergency
 drills
 and
 actively
 introduces
 external
 professional
 resources,
 such
 as

  specific
hazards
like
methanol
and
X-rays.
This
activity

                                                                                                                                    conducting
Red
Cross
first
aid
training
and
deploying
AED
defibrillators
in
production
areas.
Simultaneously,
by
hiring

  was
 a
 key
 practice
 for
 the
 Company
 to
 implement

  occupational
health
management
and
fulfill
employer
                                                                              occupational
health
steward
services,
it
systematically
optimizes
and
upgrades
relevant
management
systems.
  responsibilities.
 Through
 standardized
 health

  monitoring,
 it
 not
 only
 helps
 employees
 understand
                                                                           Strengthened
Assessment
and
All-Employee
Participation
Safety
Culture:
  their
 health
 status
 in
 a
 timely
 manner
 but
 also

  provides
systematic
assurance
for
building
a
safe
and
                    Longchuan
Kinwong
Occupational
Health
                  Integrate
 safety
 performance
 into
 assessments
 at
 all
 levels,
 establish
 employee
 safety
 reporting
 channels,
 and

  healthy
work
environment.                                                 Examination
Activity                                    comprehensively
 enhance
 all
 employees'
 safety
 awareness
 and
 prevention
 capabilities
 through
 continuous
 safety

                                                                                                                                    training
and
educational
activities.
                                                                   -65-                                                                                                                          -66-
                        Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                             2025
Sustainability
Report
The
Company
has
established
the
Emergency Response Mechanism
and
the
standardized
Special Work Management System
to

                                                                                                                                                         Comprehensive
Fire
and
Explosion
Accident
Emergency
Drill:
Enhancing
All-Employee
Emergency

systematically
address
potential
safety
risks.
In
terms
of
emergency
management,
the
Company
has
formulated
a
tiered
                      Case          Response
Capability
through
Practical
Exercise
response
 plan,
 clarifying
 the
 initiation
 and
 handling
 procedures
 for
 different
 levels
 of
 accidents,
 ensuring
 effective

coordination
of
emergency
resources
and
actions.
                                                                                                                                          During
 the
 reporting
 period,
 Ganzhou
 Kinwong

                                                                                                                                          organized
 two
 large-scale
 comprehensive
 fire
 and

For
high-risk
special
work
such
as
open
flames,
the
Company
implements
a
strict
approval
system.
Risk
assessment
and

                                                                                                                                          explosion
 accident
 emergency
 drills,
 covering
 a

condition
 confirmation
 must
 be
 completed
 before
 work,
 and
 implementation
 can
 only
 proceed
 after
 approval
 by
 the
           total
of
1,065
employees.
The
drills
simulated
fires

safety
management
department
and
the
highest
responsible
person,
and
obtaining
a
permit,
preventing
work
risks
at
the
                    in
 the
 boiler
 room
 during
 the
 day
 and
 the
 dust

source
through
process
control.                                                                                                           collection
room
at
night,
fully
rehearsing
the
entire

                                                                                                                                          process
 of
 alarm,
 evacuation,
 rescue,
 firefighting,

Hazardous
Work
Declaration
and
Work
Process                                                                                               and
 medical
 aid.
 All
 employees
 were
 safely

                                                                                                                                          evacuated
to
designated
assembly
points
within
5

                                                                                                                                          minutes,
 demonstrating
 efficient
 initial
 response

 Hazardous
Work
                                 Report
to
General
Manager
or
Safety
                                                     and
 coordinated
 handling
 capabilities.
 Through

 Application
Form                                 Responsible
Person
for
Approval                                    Carry
Out
Work       practical
testing,
the
Company
further
optimized
its

                                                                                                                                          emergency
plans,
effectively
enhanced
employees'

                                                                                                                                          self-rescue,
 mutual
 aid,
 and
 organized
 evacuation

                                                                                                                                          capabilities,
solidifying
the
foundation
for
continu-               Ganzhou
Kinwong
Organizes
Comprehensive
Fire

                                                                                                                                          ously
ensuring
personnel
and
property
safety.                       and
Explosion
Accident
Emergency
Drill
                                                                                                                                          Ganzhou
 Kinwong
 organized
 two
 specialized

                                                                                                                                          electric
 shock
 accident
 emergency
 drills
 in
 March

                                                                                                                                          and
July
2025.
The
drills
were
led
by
the
Equipment

                 Handover
to
Safety
Inspector
for
Survey                             Obtain
Work
Permit                                   Management
 Department
 and
 Environmental

                    Acknowledge
Work
Conditions                                                                                           Management
 Department,
 simulating
 a
 scenario

                                                                                                                                          where
 an
 operator
 gets
 an
 electric
 shock
 while

                                                                                                                                          handling
equipment,
focusing
on
testing
the
initial

The
 Company
 continuously
 strengthens
 its
 risk
 response
 capabilities
 by
 organizing
 systematic
 emergency
 drills
 and
           response
process
from
power-off
reporting
to
CPR

                                                                                                                                          implementation.
Through
realistic
simulations,
the

occupational
health
and
safety-related
training.
In
2025,
focusing
on
key
scenarios
such
as
hazardous
chemical
leaks
and

                                                                                                                                          Company
 continuously
 improved
 its
 emergency

fire
 safety,
 we
 organized
 several
 practical
 emergency
 drills
 and
 training
 activities,
 effectively
 enhancing
 employees'

                                                                                                                                          plans,
 effectively
 enhanced
 employees'
 personal

response
 and
 handling
 capabilities
 during
 emergencies,
 and
 continuously
 optimizing
 emergency
 plans
 and
 processes
             protection
 and
 on-site
 rescue
 capabilities
 during

through
 normalized
 mechanisms.
 The
 Company
 is
 committed
 to
 effectively
 reducing
 operational
 risks
 through
 such
              electrical
 work,
 and
 further
 strengthened
 its

preventive
practices,
building
a
safer
and
more
reliable
working
environment
for
employees,
and
ensuring
stable
business
                 electrical
safety
defenses.
                                                                                                                                                                                                          Ganzhou
Kinwong
Organizes
Electric
Shock
Accident

operations.
                                                                                                                                                                                                          Emergency
Drill
    Case           Special
Training
for
Emergency
First
Aiders:
Building
a
Strong
Line
of
Defense
for
Workplace
Life
Safety
   In
 April
 and
 May
 2025,
 Longchuan
 Kinwong
                                                                                      Key
Performance
   organized
 two
 sessions
 of
 specialized
 emergency

   first
aid
knowledge
and
skills
training.
The
activity

   invited
 instructors
 from
 professional
 training
                                                                                                                                                                            Statistical
Data
   institutions,
 covering
 a
 total
 of
 189
 employees,
                                                                                              Indicator                              Unit
   systematically
 teaching
 key
 skills
 in
 disaster

   prevention
and
on-site
first
aid.
This
training
aimed
                                                                                       Work
Safety
Investment                     RMB
Million                25.43            49.87             17.53
   to
 strengthen
 employees'
 emergency
 awareness

   and
practical
skills,
ensuring
they
can
seize
the
best
                                                                                  Employee
Occupational
Health

                                                                                                                                                                                           RMB
Million                2.07             2.59              4.15
   rescue
opportunity
in
case
of
workplace
accidents,
                                                                                              Investment
   effectively
 protecting
 the
 life
 and
 health
 safety
 of
                                                                             Number
of
Employees
in
Safety

                                                                                                                                                                                             Persons                 14,209           21,428            20,680
   employees.
 It
 is
 an
 important
 measure
 for
 the
                                                                                              Training
   Company
 to
 improve
 its
 safety
 management

   system
 and
 practice
 the
 philosophy
 of
 people
                     Longchuan
Kinwong
Emergency
First
Aid
                             Duration
of
Safety
Training                     Hours                  37,548           358,246           462,111
   foremost.                                                               Knowledge
and
Skills
Special
Training
                                                                  -67-                                                                                                                                 -68-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                   2025
Sustainability
Report
 Social
Contribution
and
Rural
Revitalization
                                                                                                                                        Case           Public
Welfare
Tree-Planting
Activity:
Jointly
Building
a
Sustainable
Production
Area
The
Company
actively
fulfills
its
corporate
citizenship
responsibilities.
By
organizing
employees
to
participate
in
diverse

public
welfare
activities
such
as
voluntary
blood
donation,
tree
planting,
and
joint
community
visits
to
needy
families,
it
           In
 April
 2025,
 Longchuan
 Kinwong
 organized

integrates
 sustainable
 development
 concepts
 into
 community
 co-building
 and
 environmental
 protection
 practices.
              employees
 to
 carry
 out
 a
 themed
 public

Furthermore,
 the
 Company
 and
 its
 subsidiaries,
 based
 on
 local
 actual
 needs,
 specially
 invest
 in
 areas
 such
 as
 road
   welfare
 tree-planting
 activity.
 Through

widening,
school
functional
building
construction,
and
village/town
infrastructure
improvement,
effectively
supporting
                collaboration,
employee
volunteers
completed

local
improvement
and
sustainable
development,
reflecting
our
long-term
commitment
to
social
responsibility.                           the
planned
transplanting
of
nearly
a
hundred

                                                                                                                                       trees,
effectively
enhancing
the
greenery
of
the

                               Donation
                                                                                               plant
 area
 and
 creating
 a
 more
 beautiful
 and

     Donating
Entity            Time                                           Donation
Project                                        healthy
 working
 environment
 for
 all
 employ-
                                                                                                                                       ees.
 This
 activity
 not
 only
 transformed

   Shenzhen
Kinwong
           January       Donation
to
Langzhong
City
Education
Fund
                                                                                                                                       environmental
awareness
into
concrete
action

Zhuhai
Kinwong
Flexible        February      Doumen
Winter
Warm
Sun
Spring
Festival
Visit
&
Donation                                   but
 also
 enhanced
 team
 cohesion
 and

                                                                                                                                       employee
belonging,
serving
as
a
vivid
practice

    Jiangxi
Kinwong
            March        Donation
to
Jiangxi
Table
Tennis
Association
Member
Rank
Competition                      of
 the
 Company
 actively
 fulfilling
 its
 environ-
   Shenzhen
Kinwong
              July       Donation
to
2025
"Xixiang
6.30"
Rural
Revitalization
Support
Activity                     mental
responsibility
and
building
sustainable
                      Longchuan
Kinwong
Tree-Planting
Activity
                                                                                                                                       operational
sites.
  Longchuan
Kinwong
              July       Donation
to
Guangdong
Province
2025
"630"
Rural
Revitalization
Support
Activity
                                             Donation
to
the
15th
Disabled
Persons'
Fitness
Week
Activity
and
2025
Ji'an

    Jiangxi
Kinwong
          September
                                             City
Disabled
Persons'
Ball
Game
    Jiangxi
Kinwong
           October       Donation
to
Jishui
County
"Caring
for
Luling
Loyal
Guards"
Special
Fund                                   "Winter
Warm
Sun"
Spring
Festival
Visit:
Government-Enterprise
Collaboration
Promotes

                                                                                                                                        Case           Community
Inclusion
   Shenzhen
Kinwong
           October       Donated
Supplies
to
Huaihua
Vocational
&
Technical
College,
Hunan
    Jiangxi
Kinwong
           October       Donation
to
Education
Fund
of
Jiangxi
University
of
Science
and
Technology                In
 January
 2025,
 Zhuhai
 Kinwong
 Flexible
 participated

                                                                                                                                       in
the
"Winter
Warm
Sun"
Spring
Festival
warmth-giving

                                                                                                                                       activity
organized
by
Zhuhai
Fushan
Industrial
Park.
As

  Key
Performance
                                                                                                                                       one
 of
 16
 caring
 enterprises,
 the
 Company
 supported

                                                                                                                                       this
 public
 welfare
 project
 through
 pledged
 donations,

    During

the

reporting

period,                                                                                                    jointly
 raising
 RMB
 48,000,
 all
 of
 which
 was
 used
 to

    the
public
welfare
donations
amounted
to
RMB
1.63
million,
of
which
RMB
1.3
million
was
invested
in
rural
                         provide
consolation
supplies
and
condolence
money
to

    revitalization.                                                                                                                    10
 specially
 challenged
 families.
 This
 activity,
 through

                                                                                                                                       government-enterprise
 collaboration
 and
 resource

                                                                                                                                       integration,
 effectively
 conveyed
 corporate
 care
 to

                                                                                                                                       needy
 families
 in
 the
 community,
 demonstrating
 our

                  Employee
Voluntary
Blood
Donation
Activity:
Practicing
Corporate
Social
Responsibility

    Case          with
Enthusiasm
                                                                                                                                       ongoing
commitment
to
rooting
locally
and
giving
back

                                                                                                                                       to
society,
while
also
contributing
positively
to
creating

                                                                                                                                       an
 inclusive
 and
 mutually
 supportive
 community
                        "Winter
Warm
Sun"
Spring
Festival
Visit
   In
 July
 2025,
 Longchuan
 Kinwong,
 together

                                                                                                                                       environment.
   with
 the
 Heyuan
 Central
 Blood
 Station,

   organized
a
voluntary
blood
donation
activity

   for
employees.
The
activity
not
only
provided

   valuable
 life-saving
 resources
 for
 medical

   assistance
 but
 also
 deepened
 employees'

   awareness
of
public
welfare
and
sense
of
social

   responsibility.
 The
 Company
 will
 continue
 to

   expand
 public
 welfare
 projects,
 combining

   care
 actions
 with
 community
 building
 to

   systematically
enhance
the
enterprise's
social

   value
contribution.                                         Longchuan
Kinwong
Voluntary
Blood
Donation
Campaign
                                                               -69-                                                                                                                                 -70-
                        Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                               2025
Sustainability
Report
                                                                                                                                      Low-Carbon,
Eco-Friendly,
Green
Innovation
                                                                                                                                        Climate
Change
Response
and
Carbon
Emission
Management
Environmental

Dimension
                                                                                                             Kinwong
regards
response
to
climate
change
as
an
important
issue
for
its
corporate
strategy
and
operations
management.

                                                                                                                                      We
deeply
understand
the
risks
and
opportunities
that
climate
change
poses
to
our
business
and
industry
chain,
systemat-
                                                                                                                                      ically
identify
and
analyze
them,
and
formulate
and
implement
scientific
and
effective
response
measures.
The
Company

                                                                                                                                      is
 committed
 to
 continuously
 transitioning
 the
 energy
 structure
 of
 its
 production
 and
 operations
 towards
 cleaner
 and

Concept                                                                                                                               lower-carbon
sources,
responding
to
global
climate
governance
with
concrete
actions
and
contributing
solid
strength
to

                                                                                                                                      promote
sustainable
development.
Kinwong
consistently
practices
the
environmental
philosophy
of
"implementing
clean
production,
building
a
beautiful

park,"
 systematically
 integrating
 the
 green
 and
 low-carbon
 transition
 into
 its
 corporate
 development
 strategy.
 The

Company
continuously
improves
its
environmental
management
system,
enhancing
resource
management
efficiency
by
                             Governance
promoting
 green
 design
 and
 manufacturing
 and
 optimizing
 production
 processes;
 strictly
 controlling
 toxic
 waste

emissions
and
advocating
green
operational
methods
to
reduce
the
environmental
impact
of
production
and
business
                     The
 Company
 has
 built
 a
 systematic,
 multi-tiered
 climate
 governance
 structure.
 The
 Director
 of
 our
 Environmental

activities.
 On
 this
 basis,
 the
 Company
 is
 committed
 to
 comprehensively
 improving
 resource
 utilization
 efficiency
 and
   Management
 Department
 takes
 the
 leadership
 role
 for
 climate
 change
 issue
 management,
 reporting
 to
 the
 Board
 of

green
development
levels,
supporting
the
industry's
green
transformation
through
sustainable
business
practices,
and
                 Directors
and
its
Strategy
and
ESG
Committee
at
least
once
a
year
on
matters
such
as
GHG
emission
target
setting,
value

making
positive
contributions
to
improving
the
global
ecological
environment.                                                         chain
climate
assessment,
and
climate
risk
and
opportunity
identification.
The
Energy
Management
Department,
under

                                                                                                                                      our
 Environmental
 Management
 Department,
 is
 the
 dedicated
 department
 for
 climate
 change
 response
 and
 carbon

                                                                                                                                      management,
responsible
for
the
implementation
and
advancement
of
specific
work.
Our
Actions
                                                                                                                                      Meanwhile,
 the
 Energy
 Saving
 and
 Carbon
 Reduction
 Special
 Group
 serves
 as
 the
 execution
 body,
 with
 management

 Climate
Change
Response
and
Carbon
Emission
Management                                                                               members
 serving
 as
 team
 leaders,
 responsible
 for
 coordinating
 various
 company
 departments,
 production
 bases,
 and

                                                                                                                                      subsidiaries
to
fully
implement
the
management
of
climate
change
issues.
 Environmental
Compliance
Management
 Resource
Utilization                                                                                                                 The
Company
has
incorporated
the
management
effectiveness
of
climate
change
response
into
the
performance
assess-
 Emission
Management
and
Circular
Economy                                                                                             ment
system
of
relevant
responsible
personnel.
Among
them,
climate-related
indicators
account
for
30%
of
the
perfor-
 Clean
Technology
Opportunities                                                                                                       mance
assessment
weight
for
the
Environmental
Management
Director
and
the
Energy
Manager.
 Ecosystem
and
Biodiversity
Protection
                                                                                                                                      Climate
Governance
Structure
Chart
of
Kinwong

                                                                                                                                                                                                 Board
of
Directors
                                                                                                                                                                                                 Management
Level
                                                                                                                                                                                                            Reports
                                                                                                                                                                                           the
Energy
Saving
and
Carbon
                                                                                                                                                                                             
Reduction
Special
Group
                                                                                                                                                    
Energy
Saving
and
Carbon
          Kinwong
Research
         Procurement
            Environment

                                                                                                                                                   Reduction
Teams
at
Each
Base

           Institute             Department              Department
                                                                                                                                                                                                                                       Energy
Department
                                                                        Low-Carbon,
Eco-Friendly,
Green
Innovation
                                                              -71-                                                                                                                                   -72-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                              2025
Sustainability
Report
                                                                                                                                                                                                                                                  Potential
Financial

     Strategy                                                                                                                                 Risk
Type                    Risk
Description
and
Impact              Response
Strategy
                                                                                                                                                                                                                                                       Impact
                                                                                                                                                                         The
government
may

To
effectively
address
the
risks
brought
by
climate
change,
the
Company
focuses
on
the
potential
risks
climate
change
                                                   introduce
stricter
policies
and

                                                                                                                                                                                                             Monitoring
the
dynamics
of

may
cause
from
strategic
planning,
operations,
R&D,
finance,
marketing,
legal,
and
credit
perspectives.                                                    Increasingly
 regulations
to
mitigate
climate
    carbon
emission
policies
and

                                                                                                                                                                         change,
increasing
corporate

                                                                                                                                                             stringent
                                      regulations
in
operating

                                                                                                                                                 Policy
                 operational
compliance

                                                                                                                                                           policies
and
 efforts,
and
potentially
leading
   locations
to
reasonably
respond

Climate
Risk
Identification
and
Response
of
Kinwong
                                                                                              and
                                                       to
policy
and
legal
updates;            Increased

                                                                                                                                                            regulations
 to
more
lawsuits
or
claims;
                                                                                                                                                 Legal
                                                                                           operational
costs
                                                                                                            Potential
Financial
                             on
carbon
                                      Actively
carrying
out
energy-
            Risk
Type                Risk
Description
and
Impact             Response
Strategy                                                    Risk
                                                                                                                 Impact                                      emission
 China's
carbon
emissions
             saving
and
emission-reduction

                                                                                                                                                                         trading
system,
which

                                                                                                                                                           management implements
a
carbon
pricing
           efforts
and
increasing
the

                                     Operating
entities
in
coastal
                                                                                                                                          proportion
of
clean
energy.
                                                                      When
selecting
expanding
sites,
  Asset
impair                                                      mechanism,
may
increase

                                     areas
may
need
to
relocate

                        Sea
level
                                                                     ment,
increased
                                                   business
operating
costs.
                                     inland,
leading
to
damaged
      avoid
low-lying
areas
to
the

                          rise                                        extent
possible.                  operational

                                     or
prematurely
scrapped
                                                                                                                                                Enhancing
our
R&D
capabilities

                                                                                                           costs                                                                                             through
measures
such
as
talent

                                     fixed
assets.
                                                                                                                                                                                                             cultivation
and
retention;
                                                                      Tackling
the
increased
cooling
                                                                   Failure
of
investment
in
low-        Continuously
researching
and

                                                                      energy
consumption
and
                                                                           carbon
technology
R&D
and
           applying
low-carbon
technolo-
                                                                      operational
costs
by
improving
the
                                                Transition
to
 failure
to
identify
and
apply

                                                                                                                                                                                                             gies,
actively
engaging
in
          Asset
impairment,
                                                                      energy
efficiency
of
air
condition-                                      Technolo low-carbon
 low-carbon
technologies
in
a
            industry
cooperation;                    Increased

                                     More
cooling
equipment
          ing
systems;
                                                                                                                                                 -gical
   emission
 timely
manner,
leading
to
a
                                                 operational
costs
                                     needs
to
be
set
up
due
to
                                                                                                         low-carbon
product
transition
       Selecting
low-energy
production

                                                                                                                                                  Risk   technologies
                                                                      Adding
spot
coolers
for
non-clean
                                                                lagging
behind
peers.                equipment,
optimizing
produc-
                                     rising
temperatures.
                                                                      workshops
to
improve
employees'
                                                                                                       tion
processes,
identifying
and

             Chronic
     High
                                       working
environment
tempera-             Increased

                                                                                                                                                                                                             implementing
energy-saving
and

              Risks     tempera-     Employees
may
be
unable
         ture;
formulate
employee
heat
          operational
                                                                                   emission-reduction
projects
to

                          tures      to
work
outdoors
for
long
       relief
plans
for
high-temperature
         costs                                                                                       reduce
energy
consumption.
                                                                      weather,
such
as
providing
herbal

                                     periods
during
hot
seasons,
                                                                  Transit-
                                                                      tea
and
cooling
supplies;
                                     affecting
operational
                                                                          ion

                                     efficiency.                      Adding
heat
stroke
prevention
                                Risks                                                                    Building
a
smart
energy
cloud

                                                                      facilities
and
optimizing
outdoor
                                                                                                     platform,
implementing
price

Physical
                                                             work
procedures
to
ensure
                                                                                                             forecasting
and
energy
consump-
                                                                      employee
safety
and
operational
                                                                                                       tion
monitoring
and
analysis,
and

 Risks                                                                                                                                                                 Rising
raw
material
and

                                                                      efficiency.                                                                                                                            enhancing
energy
management

                                                                                                                                                           Rising
raw
 energy
costs;                         and
control
capabilities;                Increased

                                                                                                                                                Market
                                                                                              operational

                                                                                                                                                            material

                                                                      Building
no
factories
in
areas
                                            Risk                  Failure
to
effectively
meet
                                                costs,decreased

                                     Insufficient
water
supply,
                                                                                              costs                                          Actively
developing
green
and

                        long-term
                                    with
high
water
supply
risk,
and
                                                                consumer
demand
for
green
                                                      revenue
                                                                                                               Decreased                                                                                     low-carbon
products
to
meet

                                     causing
reduced
production
                                                                                                       and
low-carbon
products.
                         drought                                      continuously
promoting
water
             revenue                                                                                      consumer
demand;
                                     capacity.
                                                                      conservation
efforts.
                                                                                                                                                                                                             Continuously
promoting

                                                                                                                                                                                                             resource
conservation
efforts.
                                     Extreme
weather
events
          Identifying
potential
asset

                                     lead
to
damage
to
factories,
    damage,
purchasing
necessary

                                                                                                                                                                                                             Actively
disclosing
climate-
                                     office
buildings,
and
           insurance;
                                                                                                                                                                                                             related
risks
and
opportunities

                                     equipment,
causing
                                                                                                                                                     and
corresponding
response

                                     operational
disruptions
and
     Continuously
improving
natural
            Asset
                                                                                      measures;
                                                                                                                                                            Public

             Acute
                  asset
losses;                    disaster
emergency
response
           impairment,
                        Extreme
                                                                                                                           concern
       Negative
feedback
from

                                                                      mechanisms,
stockpiling
                 Increased
                      Reputat-                                                      Establishing
energy-saving
and
          Increased

              Risk      weather                                                                                                                           about
our
      stakeholders
due
to
poor

                                     Product
production
and
on-       emergency
supplies
and
                 operational
                                                                                   emission-reduction
manage-               financing

                                                                                                                                                ional
                    performance
in
climate

                                     time
delivery
affected
due
      enhancing
safety
inspections,
                                                     sustainable
                                        ment
goals
and
regularly
             costs,decreased

                                                                                                                 costs                           Risk                     change
response
and

                                     to
equipment
damage,
            implementing
extreme
weather
                                                     development
                                         monitoring
their
achievement;             revenue
                                                                                                                                                                          sustainability.
                                     employee
inability
to
work
      event
emergency
plans,
and
                                                       performance
                                                                                                                                                                                                             Enhancing
relevant
management

                                     normally,
transportation
        conducting
corresponding

                                                                                                                                                                                                             transparency
and
proactively

                                     interruption,
etc.               extreme
weather
drills
regularly.                                                                                                      responding
to
stakeholder

                                                                                                                                                                                                             inquiries.
                                                          -73-                                                                                                                                   -74-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                              2025
Sustainability
Report
Simultaneously,
the
Company
systematically
identified
potential
opportunities
related
to
climate
change
that
can
inject
               Third-Party
Verification
of
Greenhouse
Gas
Emissions
new
impetus
and
clarify
new
development
directions
for
sustainable
development.
                                                                                                                                           To
continuously
verify
management
effectiveness,
the
Company
completed
third-party
verification
of
greenhouse

Climate
Opportunity
Identification
and
Response
of
Kinwong
                                                                                gas
 emissions
 for
 six
 major
 production
 bases
 (Zhuhai
 Kinwong
 Flexible,
 Zhuhai
 Kinwong,
 Shenzhen
 Kinwong
 ,

                                                                                                                                           Longchuan
Kinwong
,
Jiangxi
Kinwong
,
Ganzhou
Kinwong
)
in
2025
and
obtained
relevant
certification
certificates.
    Opportunity
Type                  Opportunity
Description
and
Impact                            Response
Strategy
                                                                                                                                           In
 terms
 of
 supply
 chain
 carbon
 reduction
 practices,
 the
 Company
 has
 established
 a
 sustainable
 procurement

                                                                                           Prioritizing
the
procurement
of
                system
 and
 a
 supply
 chain
 carbon
 emission
 management
 system,
 formulated
 the
 Supply
 Chain
 Sustainable

                             As
societal
demand
for
renewable
energy
and
energy-
                                                                                           green,
low-carbon
raw
materials
                Development
 Plan,
 and
 formally
 communicated
 it
 to
 suppliers.
 We
 have
 completed
 specialized
 "dual
 carbon"

                             saving
products
continues
to
increase,
we
can
expand

                                                                                           and
components,
establishing
                   empowerment
training
for
major
material
suppliers.
We
have
also
conducted
special
research
on
recycled
materi-
       New
Market
           our
market
share
and
meet
consumer
demand
for

                                                                                           strategic
partnerships
with
                    als,
identified
and
applied
usable
materials.
        Demand               eco-friendly
products
by
launching
products
that

                                                                                           suppliers,
and
guiding
production

                             align
with
environmental
trends,
thereby
gaining
a

                                                                                           processes
towards
low-carbon
and

                             greater
competitive
advantage
in
the
market.
                                                                                           standardization
transformation.                  Metrics
and
Targets
                             By
investing
resources
in
environmental
technology
           Actively
investing
resources
in

                                                                                           developing
electronic
                      By
tracking
and
analyzing
national
dual-carbon
policies,
combined
with
internal
carbon
inventories
and
external
carbon

                             R&D,
we
can
develop
new
environmental
technolo-
       R&D
and
                                                                            components
and
solutions
that
              verification
 results,
 the
 Company
 has
 formulated
 clear
 near-term
 science-based
 carbon
 targets
 and
 long-term
 carbon

                             gies
and
solutions.
These
technological
innovations
          can
be
applied
in
renewable

   Innovation
in
New
                                                                                                                  neutrality
strategic
goals,
while
participating
in
the
Science
Based
Targets
initiative
(SBTi)
and
submitting
target
commit-
                             can
not
only
meet
market
demand
and
enhance
the
              energy
fields
(such
as

     Technologies                                                                          photovoltaics,
energy
storage)
             ments
to
SBTi.
                             competitiveness
of
our
products,
but
also
help
us

                                                                                           or
that
can
significantly

                             better
adapt
to
the
challenges
brought
by
climate

                                                                                           improve
the
energy
efficiency
of
             "Carbon
Neutrality"
Strategic
Goal:
Achieve
operational
carbon
neutrality
(Scope
1
and
Scope
2)
by
2050.
                             change
in
the
future.                                         terminal
products.
                             By
exploring
new
business
models
such
as
the
                 Focusing
on
business
opportuni-                   Achieved
operational
carbon
               Carbon
emissions
decrease
                                                                                                                                                    peak
in
2024                            
by
>
5%
annually
                             circular
economy
and
the
sharing
economy,
we
aim
             ties
in
emerging
fields
such
as

                             to
provide
more
environmentally
friendly
and
                 humanoid
robots
and
drones
to

                                                                                                                                                                           Carbon
Neutrality
Strategic
Target
Timeline
of
Kinwong

      New
Business
          sustainable
products
and
services.
This
will
continu-         explore
new
revenue
streams,
and

        Models               ously
reduce
resource
consumption,
cut
carbon
                continuously
enhancing
efforts
in
            Near-term
Science
Based
Target
(SBTi):
Formally
approved
in
2025
and
announced
on
our
official
website
(the
target

                             emissions,
and
meet
consumers'
growing
demand
for
            product
reliability,
timely
delivery,
        calculation
scope
did
not
include
Ganzhou
Kinwong,
which
was
not
yet
in
production
at
that
time).
                             environmental
protection,
thereby
achieving
                  and
technological
accumulation
to

                             sustainable
development.                                      enhance
customer
stickiness.
                                                                                                                                                           Using
2024
as
the
base
year,
reduce
the
absolute
Scope
1+2
emissions
by
58.8%
and
reduce
the
Scope

      Risk
and
Opportunity
Management
                                                                                                                                                
450.00
                                                                                           0.07

To
effectively
prevent
and
respond
to
the
potential
impacts
of
the
above
risks
and
opportunities,
the
Company
is
commit-                        
400.00

ted
to
continuously
enhancing
its
operational
and
developmental
resilience
by
optimizing
management
and
improving
                                                                                                                                 0.06

carbon
 management
 performance;
 actively
 improving
 the
 carbon
 management
 system
 and
 planning
 for
 low-carbon
                         
350.00

transformation
to
seize
development
opportunities.                                                                                                                                                                                                 0.05

                                                                                                                                                
300.00

The
 construction
 of
 our
 carbon
 management
 system
 fully
 considers
 the
 internal
 and
 external
 environment
 and
 stake-                
250.00
                                                                                           0.04

holder
expectations
to
ensure
the
continuous
achievement
of
emission-reduction
targets
and
the
continuous
optimization

of
the
system.
In
accordance
with
ISO
14064
and
Shenzhen's
carbon
trading-related
policies,
the
Company
has
established
                        
200.00
                                                                                           0.03

the
 Greenhouse
 Gas
 Management
 Implementation
 Rules
 and
 related
 systems,
 and
 has
 achieved
 annual
 third-party
                       
150.00

verification
of
greenhouse
gas
emissions
since
2023.
This
system
is
coordinated
and
guided
by
the
Group's
Environmental
                                                                                                                           0.02

Management
 Department,
 with
 each
 base's
 Environmental
 Department
 responsible
 for
 execution.
 The
 Energy
                              
100.00

Management
Department,
under
the
latter,
is
the
dedicated
unit
for
climate
change
response
and
low-carbon
transition.                                                                                                                              0.01

                                                                                                                                                  

                                                                                                                                                  
50.00
To
achieve
refined
and
intelligent
carbon
management,
the
Company
has
established
a
Group-wide
unified
energy
and
                                     0                                                                                           0
carbon
 management
 platform,
 enabling
 carbon
 emission
 data
 to
 be
 visible,
 traceable,
 quantifiable,
 and
 analyzable.
                              2024   2025    2026   2027    2028    2029    2030    2031    2032    2033    2034
Furthermore,
based
on
the
ISO
14067
standard,
the
Company
independently
developed
the
"Kinwong
Carbon
Footprint

                                                                                                                                                    Scope
1
&
Scope
2
Carbon
Emissions                        Scope
3
Carbon
Emission
Intensity
Digital
 Accounting
 Tool
 V1.0,"
 which
 obtained
 third-party
 methodological
 certification
 and
 was
 put
 into
 use
 in
 2025,

allowing
for
dynamic
tracking
and
analysis
of
product
carbon
footprints.                                                                                                        Science
Based
Targets
Timeline
of
Kinwong

                                                               -75-                                                                                                                                 -76-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                 2025
Sustainability
Report
      Achievement
of
2025
Carbon
Emission
Targets                                                                        Environmental
Compliance
Management
                                                                                                                        Kinwong
 follows
 the
 management
 policy
 of
 "complying
 with
 environmental
 regulations,
 saving
 energy,
 reducing

                                                                                                                        consumption
 and
 waste,
 clean
 and
 safe
 production,
 continuous
 improvement,
 creating
 a
 green
 home."
 By
 building
 a

    The
total
amount
of
our
operational
carbon
emissions
(Scope
1
+
Scope
2)
was
394,508
tons,
a
decrease
of

                                                                                                                        systematic
environmental
compliance
system,
implementing
a
strict
target
responsibility
system
linked
to
performance,

    approximately
 6.62%
 compared
 to
 2024.
 In
 2025,
 with
 the
 addition
 of
 Ganzhou
 Kinwong,
 excluding
 its

    operational
 carbon
 emissions,
 the
 total
 amount
 of
 operational
 carbon
 emissions
 based
 on
 the
 2024
      and
 continuously
 conducting
 risk
 identification
 and
 emergency
 capability
 building,
 it
 ensures
 that
 all
 environmental

    boundary
was
359,717
tons,
a
decrease
of
14.85%
compared
to
2024.                                                   management
activities
are
legal
and
compliant,
effectively
supporting
our
sustainable
development
strategy.
    The
Scope
3
carbon
emission
intensity
decreased
by
9.98%
compared
to
2024.
    The
2025
carbon
emission
targets
have
all
been
achieved.                                                                Environmental
Management
Structure
                                                                                                                        The
 Company
 has
 established
 unified
 environmental
 and
 energy
 management
 specifications
 and
 continuously

                                                                                                                        improves
the
management
system.
The
President
is
the
highest
responsible
person
for
environmental
management.

                       Indicator                            2023                    2024                      2025
                                                                                                                        The
Environmental
Management
Department
is
responsible
for
the
planning
and
coordination
of
environmental
and

                          GHG
               (Scope
1
+
Scope
2)
(tCO2e)
                                                                                                                                                                                                System
Construction
and
Management
                                                                                                                         To
ensure
the
standardized
implementation
of
environmental
management,
the
Company
has
formulated
the
compre-
                                                                                                                         hensive
 Environmental
 Protection
 Management
 Manual
 and
 the
 Environmental
 Management
 Department
 Internal


(tCO2e)
                                                                                                                         Control
 Management
 Manual,
 fully
 covering
 key
 areas
 such
 as
 wastewater,
 waste
 gas,
 hazardous
 waste,
 monitoring

                                                                                                                         Each
subsidiary
formulates
supporting
special
management
measures
based
on
its
actual
operations
and
carries
out

                                                                                                                         daily
 management
 centered
 on
 annual
 environmental
 work
 goals.
 The
 Company
 implements
 an
 environmental

                                                                                                                         Environmental
 Protection
 Management
 Target
 Responsibility
 Letters
 with
 factory
 heads
 annually,
 implementing

                                                                                                                         management
responsibilities
at
each
level.
                                                                                                                                      Key
Area                                     List
of
Internal
Systems
(Partial
Examples)
                                                                                                                                                              Waste Gas Management Procedures, Production Workshop Hazardous Waste Liquid Handling
                                                                                                                              Emissions
Management            Procedures, Waste Management Procedures, Hazardous Waste Management Procedures,
                                                                                                                                   Soil
Protection            Soil Pollution Prevention and Control Procedures
                                Operational
Carbon
Emissions
















 Kinwong
Ganzhou
Carbon
Emissions
                                                                                                                                                              Environmental Patrol Procedures, Environmental Emergency Handling Procedures, Confined
                                                                                                                               Environmental
Safety           Space Work Management Procedures, Environmental Workshop Management Procedures
                                                             -77-                                                                                                                     -78-
                    Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                         2025
Sustainability
Report
Supervision,
Audit,
and
Certification                                                                                     Risk
Prevention,
Control,
and
Emergency
Management
Based
 on
 the
 Environmental Management Department Internal Control Management Manual,
 the
 Audit
 and
 Supervision

                                                                                                                          By
regularly
updating
the
Environmental
Aspect
Registration
and
Evaluation
Form
and
the
Hazard Identification, Evaluation,
Department
conducts
special
audits
annually
on
each
base's
environmental
management
processes,
pollutant
treatment

                                                                                                                          and Risk Classification Control List,
 the
 Company
 systematically
 identifies
 and
 evaluates
 significant
 environmental
 risk

levels,
environmental
protection
training,
etc.,
continuously
promoting
management
system
optimization
and
actively

                                                                                                                          factors,
formulates
targeted
control
measures,
and
continuously
enhances
its
proactive
environmental
risk
management

advancing
environmental
management
system
certification
and
green
manufacturing
system
construction.
                                                                                                                          capabilities.
 In
 terms
 of
 emergency
 response,
 the
 Company
 and
 its
 subsidiaries
 formulate
 Environmental Emergency
Environmental
Management
System
Certification
Status
of
Kinwong
                                                          Response Plans
 based
 on
 relevant
 regulations
 such
 as
 the
 Measures for the Management of Environmental Emergencies,
 the

                                                                                                                          Measures for the Recordation of Environmental Emergency Response Plans by Enterprises and Institutions (Trial), the Work Safety Law of
                                                                                                                          the People's Republic of China, and the Regulations on the Safety Management of Hazardous Chemicals.
 They
 regularly
 conduct

                         ISO
14001          ISO
50001                                                                     environmental
 risk
 assessments,
 hazard
 identification
 and
 management,
 and
 organize
 emergency
 training
 and
 drills,

                                                                    ISO
14064         ISO
14067
                       Environmental
         Energy
                                                  Zero
Waste
to
     effectively
enhancing
all
employees'
emergency
response
and
coordination
capabilities.
                                                                  GHG
Emissions
   Product
Carbon

                        Management
        Management
                                                    Landfill

     Base
Name                                                     Verification
      Footprint

                          System
            System
                                                   Certification
                                                                   Statement         Certificate
                        Certification      Certification
                                                                                                                          Training
and
Culture
Building
                                                                                                                          Based
on
the
annual
training
plan,
each
base's
Environmental
Department
organizes
at
least
one
environmental
protec-
                                                                                                          Certified       tion-themed
 training
 for
 all
 employees
 every
 month,
 conducted
 through
 face-to-face
 lectures
 and
 on-site
 demonstra-
      Shenzhen
                                                                                      (UL
2799
Platinum

                          Certified          Certified              Certified         Certified                           tions.
 Topics
 cover
 job
 operation
 skills,
 equipment
 maintenance,
 professional
 environmental
 knowledge,
 safety
 risk

      Kinwong
                                                                                             Level)         control,
 etc.,
 including
 standardized
 solid
 waste
 management,
 standardized
 hazardous
 waste
 management,
 and

                                                                                                                          emergency
drills.
After
training,
the
results
are
tested
through
exams
or
on-site
Q&A,
continuously
enhancing
employees'

                                                                                                                          environmental
 awareness
 and
 professional
 capabilities,
 creating
 an
 environmental
 management
 culture
 with
 all-
                                                                                                                          employee
participation.
        Jiangxi

                          Certified          Certified              Certified         Certified                                              Company
Conducts
New
Employee
Environmental
Protection
and
Safety
Training
to
Help
Employees

       Kinwong
                                                                                                               Case           Fulfill
Environmental
Responsibilities
                                                                                                                             In
 2025,
 Kinwong
 conducted
 systematic
 pre-job

                                                                                                                             training
on
environmental
protection
and
safety
for
all

        Zhuhai
                                                                                           Certified          new
 employees.
 The
 training
 content
 was
 strictly

       Kinwong
           Certified          Certified              Certified         Certified      (UL
2799
Platinum
      based
 on
 our
 Environmental Protection Management
       Flexible                                                                                            Level)            Manual
and
safety
operation
procedures,
covering
core

                                                                                                                             modules
 such
 as
 fundamentals
 of
 environmental

                                                                                                                             regulations,
 company
 environmental
 policy,
 job

                                                                                                                             environmental
 responsibilities,
 standardized
 waste

                                                                                                          Certified          management,
 and
 emergency
 response
 procedures.

        Zhuhai

                          Certified          Certified              Certified         Certified      (UL
2799
Platinum
      The
training
combined
centralized
lectures
with
on-site

       Kinwong

                                                                                                           Level)            demonstrations,
 ensuring
 that
 new
 employees
 fully

                                                                                                                             understand
 and
 master
 the
 necessary
 environmental

                                                                                                                             protection
and
safety
knowledge
and
operating
norms

                                                                                                                             before
officially
starting
work,
laying
a
solid
foundation

                                                                                                                             for
 them
 to
 fulfill
 their
 environmental
 responsibilities

                                                                                                                                                                                                  Kinwong
New
Employee
Environmental
Protection

      Longchuan
                                                                                        Certified            and
achieve
safe
operations.                                         and
Safety
Training
       Kinwong
           Certified          Certified              Certified         Certified       (UL
2799
Gold
                                                                                                          
Level)
                                                                                                                            Key
Performance
       Ganzhou
                                                                                                              During

the

reporting

period,

                          Certified                                 Certified
       Kinwong
                                                                                                              Kinwong
and
its
subsidiaries
conducted
a
total
of
384
environmental
protection-related
trainings.
                                                           -79-                                                                                                                            -80-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                              2025
Sustainability
Report
    Case         Company
Issues
Carbon
Reduction
Initiative,
Encourages
Employee
Participation
in
Green
Practices                    Case         The
Company
Adopts
Multi-Path
Carbon
Reduction
Measures
to
Achieve
Systematic
Emission
Reduction
  On
December
2,
2025,
the
Company
released
a
                                                                                      Promoting
 Clean
 Energy
 Use:
 In
 2025,
 the
 Group
 purchased
 green
 electricity
 and
 domestic
 green
 certificates

  carbon
reduction
initiative
to
all
employees
via
                                                                                 centrally,
with
a
total
actual
procurement
volume
of
413,482
MWh,
driving
the
renewable
energy
usage
ratio
from

  its
 public
 WeChat
 account,
 titled
 Join Hands to                                                                              16.38%
in
2024
to
38.08%
in
2025.
  Achieve Science-Based Carbon Targets and Embark
  on a New Green Journey Together.
 The
 initiative
                                                                                Integrated
 Solar-Storage-Utilization
 and
 Distributed
 PV
 Project:
 Longchuan
 Kinwong's
 4.65MWp
 rooftop
 PV
 was

  detailed
 our
 Science
 Based
 Targets,
 carbon
                                                                                  grid-connected
 and
 began
 generating
 power
 in
 January
 2025;
 Ganzhou
 Kinwong's
 5.5MWp
 rooftop
 PV
 started

  reduction
 commitments,
 and
 specific
 action
                                                                                   construction
 in
 October
 of
 the
 same
 year
 and
 was
 grid-connected
 in
 January
 2026,
 with
 an
 estimated
 average

  plans.
 It
 emphasized
 the
 important
 role
 of
                                                                                 annual
power
generation
increase
of
approximately
5.5
million
kWh.
  employees
in
achieving
our
green
transforma-
  tion
 and
 encouraged
 them
 to
 start
 with
 small

  steps
in
their
daily
work
to
jointly
contribute
to
                                                                             Examples
of
Energy-Saving
and
Technology
Modification
Projects
at
Company
Bases
  our
 sustainable
 development
 and
 climate

  change
response.                                              Kinwong's
Carbon
Reduction
Initiative
Activity
to
All

                                                                Employees
                                                                                                                                     Case          Central
Chiller
Station
High-Efficiency
Plant
Room
Comprehensive
Modification
Project
                                                                                                                                    In
 2025,
 some
 factories
 of
 Longchuan
 Kinwong
 and

   Green
Office
Practices
                                                                                                                                    Jiangxi
 Kinwong
 implemented
 comprehensive
 energy-
                                                                                                                                    saving
 modifications
 to
 their
 central
 chiller
 station

 In
2025,
the
Company
held
a
total
of
19,286
video
conferences,
averaging
1,607
per
month,
practicing
the
green
office
             systems.
 This
 modification
 achieved
 "cooling
 on

 concept,
which
not
only
saved
resources
like
paper,
water,
and
electricity
but
also
indirectly
reduced
transportation
             demand"
 by
 replacing
 equipment
 and
 deploying
 new

 carbon
emissions
from
business
travel.                                                                                             systems,
 comprehensively
 solving
 the
 high
 energy

                                                                                                                                    consumption
 problem
 of
 the
 original
 system
 caused
 by

                                                                                                                                    outdated
equipment
and
a
lack
of
control.
This
upgrade

                                                                                                                                    achieved
a
45%
power
saving
rate
for
the
central
chiller

 Resource
Utilization                                                                                                               station
 system,
 far
 exceeding
 the
 national
 first-level

                                                                                                                                    energy
 efficiency
 standard,
 laying
 a
 solid
 technical

                                                                                                                                    foundation
 for
 practicing
 green
 operations
 and
 sustain-
Kinwong
 comprehensively
 improves
 resource
 utilization
 efficiency
 and
 low-carbon
 operation
 levels
 by
 establishing
 a
                                                                            Central
Chiller
Station
High-Efficiency
Plant
Room

                                                                                                                                    able
development.                                                      Comprehensive
Modification
Project
Group-coordinated
 energy
 management
 structure,
 setting
 and
 tracking
 quantitative
 targets,
 implementing
 systematic

energy-saving
measures,
expanding
clean
energy
use,
and
promoting
recycling
and
conservation
in
water
and
packaging

materials.
                                                                                                                                     Case          High-Power
Motor
Energy-Saving
Modification
for
Dust
Collection
System
Energy
Management
                                                                                                                                    In
2025,
factories
such
as
Longchuan
Kinwong
and
Zhuhai
Kinwong
completed
modifications
to
their
dust
collection

Energy
 management
 is
 the
 responsibility
 of
 the
 Energy
 Management
 Department
 under
 the
                                   systems.
 The
 new
 system
 fully
 replaced
 the
 original
 inefficient
 motors
 through
 several
 technological
 innovations,

Energy
Saving
and
Carbon
Reduction
Special
Group.
As
the
executing
entity,
this
department
                                         significantly
 improving
 motor
 efficiency.
 Secondly,
 leveraging
 breakthroughs
 in
 high-speed
 rotation
 technology,
 it

specifically
 advances
 various
 energy
 management-related
 tasks.
 In
 equipment
 and
 facility
                                  greatly
reduced
energy
losses
in
connecting
shafts,
while
also
optimizing
impeller
design
to
further
lower
its
own

selection,
 the
 Company
 strictly
 follows
 the
 Kinwong Equipment and Facility Energy Efficiency                                  energy
consumption.
After
the
modification,
system
energy
consumption
was
reduced
by
35%
to
50%.
Standards,
 comprehensively
 choosing
 high-efficiency
 energy-saving
 equipment
 and
 high-
efficiency
plant
rooms.
It
also
introduces
energy-saving
processes,
such
as
inkjet
printing
and
       Invested

new
copper
plating
processes,
to
continuously
reduce
carbon
emissions.
Furthermore,
in
2025,
      RMB
23.70
million

the
 Company
 invested
 approximately
 RMB
 23.7
 million
 in
 energy-saving
 technical
 modifica- in
energy-saving

tions,
implementing
38
projects,
of
which
30
were
completed,
and
8
were
under
construction.
 technical
modification

During
this
reporting
period,
the
Company
set
an
annual
target
for
its
mass
production
factories
       projects
of
"reducing
electricity
consumption
per
unit
of
output
value
by
3%,"
and
actually
achieved
a

reduction
of
3.8%,
meeting
and
exceeding
the
target.
                                                                                                                                                                         Integrated
Dust
Collection
High-Speed
Fan
System
                                                            -81-                                                                                                                                 -82-
                    Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                             2025
Sustainability
Report
 Case          Heat
Pump
Modification
for
Horizontal
Drying
Section                                            Case          Permanent
Magnet
Motor
Modification
for
Air
Handling
Units
In
 2025,
 Longchuan
 Kinwong
 completed
 the
                                                                In
 2025,
 the
 air
 handling
 unit
 fans
 in
 some

energy-saving
 modification
 of
 the
 heat
 pump
                                                             factories
 of
 Longchuan
 Kinwong
 and
 Zhuhai

system
 for
 the
 horizontal
 drying
 section,
                                                               Kinwong
Flexible
underwent
energy
efficiency

reducing
system
energy
consumption
by
40%.
                                                                   upgrade
modifications.
After
the
modification,

This
 not
 only
 achieved
 significant
 energy
                                                               the
 comprehensive
 power
 saving
 rate
 of
 the

savings
 in
 a
 safer
 manner
 without
 risk
 of
                                                             system
 exceeded
 15%,
 and
 the
 motor
 power

electric
 leakage
 but
 also
 enhanced
 the
                                                                  factor
 increased
 to
 0.99,
 which
 not
 only

automation
level
of
energy
management
in
the
                                                                 significantly
reduced
the
energy
 consumption

production
 process
 through
 intelligent
                                                                    of
 the
 air
 conditioning
 system
 but
 also

interlocking
 control,
 serving
 as
 an
 effective
                                                           achieved
more
stable
and
efficient
operation.
practice
of
green
and
low-carbon
modification

in
the
production
process.
                                                                 Heat
Pump
for
Horizontal
Drying
Section                                                              Air
Handling
Unit
Permanent
Magnet
Synchronous
Motor
 Case          High-Temperature
Hot
Water
Air
Energy
Modification
for
Chemical
Tanks                           Case          Permanent
Magnet
Modification
for
Exhaust
Gas
Tower
Spray
Pumps
In
2025,
the
high-temperature
heating
systems
                                                                In
2025,
some
factories
of
Longchuan
Kinwong

for
 chemical
 tanks
 at
 Longchuan
 Kinwong
                                                                 and
 Jiangxi
 Kinwong
 completed
 the
 exhaust

MPCB
 and
 Zhuhai
 Kinwong
 HLC
 factories
                                                                   gas
 tower
 spray
 pump
 modification
 project.

underwent
 energy-saving
 modifications,
                                                                     They
 upgraded
 the
 inefficient
 asynchronous

achieving
the
capability
to
generate
cold
air
for
                                                            motors
 used
 in
 the
 exhaust
 gas
 treatment

workshop
 cooling
 while
 heating
 the
 tank
                                                                 system
 to
 high-efficiency
 variable
 frequency

solution.
 This
 modification
 resulted
 in
 a
                                                               permanent
 magnet
 synchronous
 pumps,

comprehensive
energy-saving
rate
of
over
50%
                                                                 specifically
 addressing
 the
 low
 energy

for
the
system.
It
not
only
eliminated
the
safety
                                                            efficiency
of
the
original
pump
units
driven
by

risks
 associated
 with
 electric
 heating
 at
 the
                                                          asynchronous
 motors.
 Through
 this
 technical

source
but
also
effectively
reduced
the
central
                                                              improvement,
 the
 two
 key
 environmental

air
 conditioning
 load
 through
 cascade
 energy
                                                            protection
 facilities
 achieved
 an
 excellent

utilization,
achieving
energy
synergy
optimiza-                                                               energy-saving
 effect,
 with
 a
 comprehensive

tion
and
safety
enhancement
in
the
production
                                                                power
saving
rate
exceeding
20%.
process.
                                                              Cascade
Air
Source
High-Temperature
Heat
Pump                                                                         Exhaust
Gas
Tower
Pump
                                                       -83-                                                                                                          -84-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                   2025
Sustainability
Report
Water
Resource
Management                                                                                                                  Raw
Material
and
Packaging
Material
Management
The
 Company
 regards
 water
 resource
 management
 as
 a
 crucial
 foundation
 for
 environmental
 compliance
 and
 green

                                                                                                                                           The
Company
strictly
complies
with
the
RoHS
Directive
and
other
relevant

operations.
 All
 operational
 activities
 strictly
 follow
 national
 laws
 and
 regulations,
 such
 as
 the
 Water Law of the People's
                                                                                                                                           regulations
 and
 policy
 requirements,
 and
 identifies
 the
 environmental

Republic of China
 and
 the National Water Conservation Action Plan,
 and
 actively
 align
 with
 local
 water
 conservation
 and

                                                                                                                                           impact
of
raw
materials
and
packaging
at
the
source.
We
deeply
recognize

discharge
standards.
                                                                                                                                           that
effective
material
management
is
not
only
a
prerequisite
for
meeting

                                                                                                                                           compliance
requirements
and
controlling
supply
chain
risks,
but
also
a
key

The
 Company
 has
 established
 a
 systematic
 management
 system
 covering
 strategy,
 policies,
 and
 daily
 operations,

                                                                                                                                           link
in
achieving
a
circular
economy,
reducing
resource
consumption
and

including
 the
 Water Conservation Management System, Water Conservation Statistics System, and Water Conservation Reward and
                                                                                                                                           waste
 generation,
 and
 improving
 the
 environmental
 performance
 of

Punishment System.
Key
indicators
such
as
the
Group
factory's
water
consumption
per
square
meter
are
incorporated
into

                                                                                                                                           products
throughout
their
life
cycle.
To
this
end,
the
Company
is
committed

annual
 management
 targets
 and
 assessed
 accordingly.
 The
 Environmental
 Department
 or
 factory
 at
 each
 base
 is

                                                                                                                                           to
promoting
the
reduction
and
resource
recovery
of
packaging
materials,

responsible
for
collecting
actual
water
usage
data
for
each
process.
Through
the
CPAR
(Corrective
and
Preventive
Action)

                                                                                                                                           ensuring
that
all
raw
materials
used
meet
strict
environmental
standards,

reporting
 mechanism
 in
 the
 OA
 system,
 non-compliant
 processes
 are
 tracked,
 and
 improvements
 are
 urged,
 ensuring

                                                                                                                                           and
systematically
reducing
environmental
impacts
across
the
value
chain.
continuous
and
effective
control
and
optimization
of
water
resource
consumption.
Factory
Water
Metrics,
Targets,
and
Achievement
of
Kinwong
Group
                             Indicator
Name                                                                     2025
Progress
                                                                                                                                               Case         Management
Measures
for
Raw
Materials
and
Packaging
Materials
at
Company
Bases
                                                                                       Unit
 Group
 factory
 water
 consumption
 per
 square
 meter
 (excluding
             Cubic
meters/
 newly
operational
factories)                                                    square
meter
                                                                                                                                             reducing
the
average
monthly
waste
of
incinerable
ink
cans
by
approximately
600
kg.
 Target:
 Starting
 from
 2026,
 the
 Group
 factory's
 water
 consumption
 per
 square
 meter
 will
 decrease
 by
 1%
 annually

 compared
to
the
previous
year.
Additionally,
in
2025,
the
Company
implemented
targeted
water
conservation
and
water
resource
recycling
projects
at

various
bases:
    Case           Examples
of
Water
Resource
Recycling
Projects
at
Company
Bases
   Shenzhen
 Kinwong:
 It
 achieved
 precise
 manage-
   ment
of
water
consumption
on
production
lines
by

   introducing
an
intelligent
water
connection
control

                                                                                                                                                               Comparison
of
Shenzhen
Kinwong
Base
Ink
Packaging
Before
and
After
Improvement
   system.
   Ganzhou
Kinwong:
Through
pipeline
modifications,
                                                                                         Zhuhai
Kinwong:
In
2025,
the
packaging
cartons
purchased
were
mainly
made

   treated
cleaning
wastewater
was
recycled
for
use
in
                                                                                      from
recycled
pulp,
and
packaging
materials
such
as
plastic
bags
were
also
made

   exhaust
 gas
 spray
 towers
 and
 environmental
                                                                                          from
renewable
materials
like
PE.
   protection
station
chemical
dosing,
saving
approxi-
   mately
99,902
cubic
meters
of
tap
water
consump-                                                                                          Shenzhen
Kinwong:
Uses
custom-made
cartons
that
are
FSC-certified
with
85%

   tion
throughout
2025.                                                                                                                     recycled
 paper
 content,
 utilizes
 cartons
 and
 waste
 paper
 pulp
 uniformly

   Jiangxi
 Kinwong:
 It
 optimized
 the
 recycled
 water
                                                                                   collected
by
the
Group,
reducing
wood
consumption,
adhesive
use,
and
plastic

   treatment
system,
producing
water
quality
close
to
                                                                                       liners,
making
it
easier
for
customers
to
recycle.
Also
uses
PE/PA
packaging
film

   tap
water
standards.
Part
of
this
water
is
recycled
for
                                                                                  with
a
carbon
footprint
about
62%
lower
than
virgin
plastic
to
meet
high-end
FPS

   the
pressing
process,
saving
an
average
of
approxi-                                                                                       packaging
needs.
On
the
raw
material
side,
it
recovers
copper-containing
waste

   mately
 8
 tons
 of
 tap
 water
 per
 month,
 with
 an
                                                                                   liquid
 from
 FPC
 production
 for
 copper
 smelting
 to
 achieve
 resource
 regenera-
   assessment
showing
no
impact
on
product
quality.                                                                                          tion.
                                                                        Jiangxi
Kinwong
Recycled
Water
Treatment
System
                                                                                                                                                                                                                                      Shenzhen
Kinwong
FSC
Certificate
                                                                 -85-                                                                                                                                  -86-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                               2025
Sustainability
Report
 Emission
Management
and
Circular
Economy                                                                                              Case          Examples
of
Emission
Management
Measures
at
Selected
Bases
The
main
emissions
generated
by
our
operating
activities
include
wastewater,
waste
gas,
hazardous
waste,
and
general
                Shenzhen
Kinwong:
In
2025,
Shenzhen
Kinwong
implemented
treatment
process
upgrades
for
two
key
emission

industrial
solid
waste.
We
strictly
comply
with
the
Environmental Protection Law of the People's Republic of China,
other
laws,

                                                                                                                                     sources.
In
terms
of
end-of-pipe
VOC
treatment,
the
inner
layer
workshop
upgraded
the
original
"water
spray
+
UV

regulations,
 and
 industry
 standards,
 and
 have
 established
 a
 systematic
 management
 system.
 We
 are
 committed
 to

continuously
 reducing
 the
 environmental
 impact
 of
 production
 and
 operating
 activities
 through
 source
 reduction,
         photolysis
+
activated
carbon"
process
to
"Regenerative
Catalytic
Oxidation
(RCO)
+
spray,"
significantly
increas-
process
control,
and
recycling/reuse.                                                                                                ing
 VOC
 treatment
 efficiency
 from
 23.5%
 to
 86.5%,
 and
 reducing
 concentration
 by
 approximately
 65%.

                                                                                                                                     Additionally,
 in
 November
 of
 the
 same
 year,
 the
 base
 installed
 low-nitrogen
 burners
 for
 the
 boiler
 system,

Waste
Management
Targets
and
Achievement
of
Kinwong
                                                                                 effectively
reducing
nitrogen
oxide
emission
concentration
from
36
mg/m?
to
11
mg/m?.
These
technical
modifi-
                                                                                                                                     cation
projects
significantly
improved
system
treatment
efficiency
and
reduced
air
pollutant
emissions.
                                                                                      Target           Target
Achievement

               Indicator
Name                                   Unit
                                                                                                             in
2025                 Ganzhou
Kinwong:
In
2025,
to
practice
the
green
development
concept,
Ganzhou
Kinwong
implemented
a
series

                                                                                                            Achieved                 of
refined
pollutant
reduction
actions.
The
Environmental
Management
Department
strengthened
the
pretreat-
         Waste
generation
intensity              Ton/RMB
Million
of
Revenue             20
                                                                                                                                     ment
 of
 copper-containing
 wastewater,
 stably
 controlling
 the
 copper
 ion
 concentration
 below
 0.5
 mg/L
 (20%

   General
waste
recycling
and
reuse
rate                        %                      85                  Achieved                 below
the
discharge
limit).
Simultaneously,
for
consumables
in
the
recycled
water
system,
it
innovatively
adopted

                                                                                                                                     a
hydrochloric
acid
soaking
process
to
regenerate
and
reuse
precision
filter
cartridges
and
filter
press
cloths.
This

   Hazardous
waste
generation
intensity          Ton/RMB
Million
of
Revenue             15                  Achieved
                                                                                                                                     measure
reduced
the
consumption
of
36
sets
of
filter
cartridges
and
165
pieces
of
filter
cloth
during
the
reporting

                                                                                                                                     period.
This
not
only
significantly
reduced
the
risk
of
heavy
metal
pollutant
emissions
but
also
effectively
lowered

                                                                                                                                     solid
waste
generation
and
material
consumption
costs
during
operations
through
resource
recycling.
    Case          Examples
of
Emission
Management
Measures
at
Selected
Bases
  Jiangxi
 Kinwong:
 In
 2025,
 Jiangxi
 Kinwong
 invested
                                                                        To
 effectively
 advance
 resource
 recycling
 work,
 Kinwong
 established
 the
 Resource
 Optimization
 Department
 in
 March

  approximately
 RMB
 1.1
 million
 to
 upgrade
 the
 VOCs
                                                                        2025.
By
enhancing
the
resource
recovery
of
etching
waste
liquid
and
the
recycling
of
etching
replenisher,
the
Company

  organic
 waste
 gas
 treatment
 process
 in
 one
 of
 its
                                                                       produced
a
total
of
43,299.73
tons
of
recycled
resource
products
such
as
copper
sulfate
and
ammonium
chloride
during

  factories
to
an
efficient
biological
method,
increasing
                                                                         the
reporting
period,
effectively
improving
resource
utilization
efficiency.
Simultaneously,
the
Company
has
established
a

  treatment
efficiency
from
75%
to
approximately
85%,
                                                                             comprehensive
waste
product
recycling
and
reuse
system,
implemented
standardized
recycling
operations
for
precious

  significantly
reducing
emission
concentrations.                                                                                  and
 heavy
 metals,
 and
 established
 a
 closed-loop
 circulating
 system
 for
 cleaning
 water,
 achieving
 the
 up-to-standard

                                                                                                                                   reuse
of
treated
wastewater
and
effectively
deepening
its
circular
economy
practices.
  Zhuhai
 Kinwong:
 In
 April
 2025,
 Zhuhai
 Kinwong

  completed
 the
 upgrade
 and
 modification
 of
 the

  nickel-containing
 filter
 press
 and
 its
 supporting

  systems
at
the
wastewater
treatment
station.
Project
                                                                                Case          Examples
of
Circular
Economy
Practices
at
Kinwong
Bases
  content
 included
 replacing
 the
 filter
 with
 secondary

  compression
 diaphragm
 filter
 plates
 to
 improve

  pressing
 efficiency,
 and
 adding
 nickel-containing
                                                                             In
 2025,
 Jiangxi
 Kinwong
 further
 implemented
 and

  resin
tanks,
drain
pipes,
and
RO
units
to
deepen
nickel
                                                                           optimized
the
acidic
etching
solution
circulation
and

  removal
 at
 both
 the
 front
 and
 back
 ends
 of
                                                                                reuse
 project.
 This
 project
 treats
 the
 acidic
 etching

                                                                       Jiangxi
Kinwong
Exhaust
Gas
Tower
Modification
  wastewater
treatment.
This
modification
significantly
                                                                             waste
 liquid
 generated
 from
 production,
 and
 the

  reduced
the
water
content
of
nickel-containing
sludge

                                                                                                                                     resulting
 tailwater
 is
 allocated
 within
 the
 Resource

  from
 approximately
 73%
 to
 63%,
 while
 reducing
 the

                                                                                                                                     Optimization
 Department
 workshop.
 It
 is
 used
 as
 a

  total
 sludge
 volume
 and
 heavy
 metal
 nickel

  wastewater
 discharge,
 also
 improving
 the
 overall
                                                                             replenisher,
 replacing
 the
 original
 packaged

  treatment
 efficiency
 and
 resource
 efficiency
 of
 the
                                                                         chemical
 solution
 for
 reuse
 in
 the
 production
 line

  system.                                                                                                                            etching
 tanks.
 On
 one
 hand,
 this
 measure
 reduced

                                                                                                                                     the
cost
of
the
replenisher
to
94%
of
the
price
of
the

                                                                                                                                     original
 packaged
 chemical
 solution;
 on
 the
 other

                                                                                                                                     hand,
it
decreased
the
volume
of
tail
water
requiring

                                                                                                                                     entry
 into
 the
 zero-discharge
 system,
 saving

                                                                                                                                     corresponding
 energy
 and
 material
 consumption.

                                                                                                                                     This
 practice
 successfully
 achieved
 a
 closed
 loop

                                                                                                                                     from
 waste
 (waste
 liquid)
 to
 resource
 (replenisher),

                                                                                                                                     not
 only
 directly
 reducing
 production
 costs
 and

                                                                                                                                     resource
consumption
but
also
significantly
decreas-                   Jiangxi
Kinwong
Acidic
Etching
Solution
Reuse
System
                             Zhuhai
Kinwong
Wastewater
Treatment
System
Modification
Project                                         ing
the
load
of
end-of-pipe
treatment.
                                                                -87-                                                                                                                                 -88-
                        Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                         2025
Sustainability
Report
     Case           Examples
of
Circular
Economy
Practices
at
Kinwong
Bases
    In
 2025,
 Shenzhen
 Kinwong
 successfully
 imple-
    mented
 an
 in-plant
 waste
 resource
 recovery

    project
 targeting
 micro-etching
 waste
 liquid
 from

    the
 production
 workshop.
 Through
 technical

    modification,
 this
 project
 recovers
 copper
 from

    approximately
 200
 tons
 of
 micro-etching
 waste

    liquid
 per
 month
 via
 electrolysis.
 Specialized

    equipment
installed
on
the
production
line
purifies

    it
 into
 copper
 sulfate
 crystal
 products
 using
 low-
    temperature
cooling
technology.
This
comprehen-
    sive
 treatment
 solution
 achieves
 100%
 in-plant

    circulation
 and
 zero
 off-site
 transport
 of
 micro-
    etching
 waste
 liquid,
 not
 only
 significantly

    reducing
the
cost
of
outsourced
waste
disposal
but

    also
 increasing
 operational
 income
 through

    resource
 products.
 It
 is
 a
 typical
 case
 of
 the

    Company
 practicing
 waste
 resource
 recovery,

    promoting
 the
 circular
 economy,
 and
 enhancing
                         Waste
Resource
Recovery
Project
    economic
benefits.
                                                                                                                                                                 Kinwong'
Some
Products
Obtain
Product
Carbon
Footprint
Verification
Certificates
    Product
Life
Cycle
Environmental
Impact
Management
                                                                                                                                             Ecosystem
and
Biodiversity
Protection
The
Company
reduces
the
environmental
impact
of
products
throughout
their
life
cycle
and
improves
resource
utilization

efficiency
through
optimized
design
and
R&D
innovation.
                                                                                                                                            The
 Company
 deeply
 recognizes
 the
 significance
 of
 biodiversity
 for
 maintaining
 the
 Earth's
 ecological
 balance
 and

                                                                                                                                            promoting
 sustainable
 development,
 and
 integrates
 relevant
 protection
 concepts
 into
 its
 operations
 management.

           Material
Procurement:
The
Company
prioritizes
the
use
of
renewable,
recyclable,
or
environmentally
friendly

                                                                                                                                            During
the
site
selection
and
planning
phase
of
new
projects,
the
Company
strictly
complies
with
national
and
local
laws,

           materials.
For
example,
we
communicate
with
customers
to
use
halogen-free
substrates,
reducing
harm
to

                                                                                                                                            regulations,
and
policy
requirements
such
as
the
Soil Pollution Prevention and Control Law of the People's Republic of China, the
           human
health
and
the
environment;
environmentally
friendly
materials
such
as
fluorine-free/lead-free
plating

                                                                                                                                            Forest Law of the People's Republic of China, the Opinions on Further Strengthening Biodiversity Protection, and the 'Three Lines and One
           solutions,
green
lead-free
solder,
and
lead-free
coatings
are
also
widely
used
in
our
products.
                                                                                                                                            List' Ecological Environment Zoning Control Plan of Guangdong Province.
 All
 construction
 activities
 actively
 avoid
 nature

                                                                                                                                            reserves,
ecological
conservation
habitats,
and
areas
important
or
sensitive
for
biodiversity
to
minimize
potential
impacts

           Process
Design:
By
optimizing
circuit
layout,
increasing
copper
thickness,
and
adjusting
substrate
materials,
                   on
local
ecosystems.
           the
Company
enables
its
products
to
have
characteristics
such
as
high
current-carrying
capacity,
high
thermal

           conductivity,
good
insulation
performance,
and
high
reliability.
These
products
are
widely
used
in
fields
such

           as
electric
vehicles,
power
grids,
photovoltaics,
and
rail
transit,
indirectly
reducing
the
power
consumption
of
                                   Biodiversity
Protection
Measures
for
Zhuhai
Kinwong
's
2025
Expansion
Project
           end-use
equipment.
                                                                                                                                                                                Actively
avoid
legally
protected
ecological
areas
such
as
ecological
protection
red
lines,

                                                                                                                                             Site
Selection
Avoidance
                                                                                                                                                                                nature
reserves,
and
drinking
water
source
protection
areas.
           Product
Packaging:
The
Company
promotes
green
packaging
solutions,
reducing
the
environmental
burden
of

           the
packaging
process
through
material
innovation
and
circular
design.
For
example,
we
use
biodegradable
                                                            By
 implementing
 stringent
 pollution
 control
 measures
 that
 exceed
 baseline
 require-
           cushioning
materials
to
replace
traditional
EPS
packaging,
promote
foldable
wooden
pallets
and
PP
plastic
                                                           ments,
 we
 strive
 to
 minimize
 the
 negative
 impact
 of
 project
 operations
 on
 regional

                                                                                                                                             Pollution
Reduction
           returnable
containers,
improving
the
recycling
rate
of
packaging
materials.                                                                                          water,
air,
and
soil
environments,
thereby
indirectly
providing
support
for
protecting

                                                                                                                                                                                the
biological
communities
dependent
on
those
environments.
           Life
Cycle
Assessment
(LCA):
The
Company
conducts
LCA
on
its
core
products
to
reduce
the
environmental
                                                              Establish
an
emergency
response
system
to
prevent
ecological
damage
from
sudden

                                                                                                                                             Risk
Prevention
and
Control
           impact
of
products
across
the
entire
chain,
from
raw
material
acquisition
to
production
to
disposal.
As
of
the
                                                      accidents.
           end
 of
 the
 reporting
 period,
 the
 Company
 had
 13
 products
 that
 had
 obtained
 product
 carbon
 footprint

           certification,
accounting
for
66.67%
of
our
product
types.
                                                                                                                                           Simultaneously,
 the
 Company
 actively
 advocates
 for
 and
 supports
 employee
 participation
 in
 biodiversity-related


Note:
Product
types
include
single/double-sided
through-hole
rigid
boards,
multi-layer
through-hole
rigid
boards,
HDI
boards,
flexible

                                                                                                                                           activities,
 continuously
 promoting
 conservation
 concepts
 to
 employees,
 and
 is
 committed
 to
 cultivating
 ecological

boards,
MPCB,
and
rigid-flex
boards.
                                                                                                                                           protection
awareness
among
all
staff,
internalizing
biodiversity
protection
as
part
of
the
corporate
culture.
                                                                 -89-                                                                                                                                        -90-
                     Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                          2025
Sustainability
Report
                                                                                                                               Integrity
as
Foundation,
Compliance
in
Operations
                                                                                                                                Improving
Corporate
Governance
Corporate
Governance                                                                                                           Kinwong
 continuously
 optimizes
 its
 corporate
 governance
 structure,
 effectively
 leveraging
 the
 functions
 of
 the
 "two

                                                                                                                               meetings
and
one
level"
(Shareholders'
Meeting,
Board
of
Directors,
and
Management)
to
promote
standardized
opera-
                                                                                                                               tions.
Concept                                                                                                                        Our
directors
and
senior
executives
strictly
abide
by
various
regulatory
requirements,
regularly
participate
in
compliance

                                                                                                                               training
 organized
 by
 regulatory
 bodies,
 stock
 exchanges,
 and
 internally,
 ensuring
 standardized
 operations
 in
 key

Kinwong
has
always
taken
integrity
as
the
foundation
of
its
operations
and
insists
on
placing
compliance
at
the
forefront

                                                                                                                               business
processes
and
eliminating
violations
and
errors.
The
Board
of
Directors
strictly
follows
laws,
regulations,
and

of
 its
 development.
 The
 Company
 continuously
 improves
 its
 corporate
 governance
 mechanism,
 strengthens
 its
 risk

                                                                                                                               corporate
 governance
 systems,
 fully
 implements
 resolutions
 of
 the
 Shareholders'
 Meeting,
 and
 diligently
 performs
 its

prevention
and
control
system,
adheres
to
business
ethics
standards,
and
focuses
on
enhancing
data
security
and
privacy

                                                                                                                               various
 powers
 and
 duties.
 Simultaneously,
 the
 Company
 continuously
 optimizes
 the
 executive
 compensation
 perfor-
protection.
Through
these
efforts,
it
builds
a
compliance
culture
throughout
its
operations,
laying
a
solid
foundation
for

                                                                                                                               mance
mechanism.
The
President's
compensation
and
performance
are
directly
linked
to
core
financial
indicators
such
as

high-quality
development
and
earning
long-term
trust
from
all
parties.
                                                                                                                               our
return
on
total
assets
and
earnings
before
interest,
taxes,
depreciation,
and
amortization
(EBITDA),
further
strength-
                                                                                                                               ening
a
governance
orientation
that
emphasizes
both
incentives
and
constraints.
                                                                                                                               Corporate
Governance
Structure
of
Kinwong

Our
Actions
 Improving
Corporate
Governance
 Strengthening
Risk
Prevention
and
Control                                                                                                                                                               Shareholders'
Meeting
 Business
Ethics                                                                                                                                           Nomination
Committee
 Data
Security
and
Privacy
Protection
                                                                                                                                                             Remuneration
and

                                                                                                                                                                                                           Board
of
Directors
                                                                                                                                                           Assessment
Committee
                                                                                                                                                              Strategy
and
ESG

                                                                                                                                                                 Committee
                                                                                                                                                              Audit
Committee                            Company
Management
                                                                                                                                  Key
Performance
                                                                                                                                  During

the

reporting

period,
                                                                                                                                  the
company's
Board
of
Directors
had
9
members,
including
2
female
directors
and
3
independent
directors.
                                                                                                                                  There
were
14
plenary
meetings
of
the
Board
of
Directors,
3
special
meetings
of
independent
directors,
and
4

                                                                                                                                  shareholders'
meetings.
                                                                                          Integrity
as
Foundation,

                                                                                         Compliance
in
Operations
                                                           -91-                                                                                                                              -92-
                      Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                          2025
Sustainability
Report
Board
Diversity                                                                                                                 Board
Special
Committees
Kinwong
deeply
recognizes
the
importance
of
a
diverse
composition
of
Board
members
for
achieving
scientific
decision-           The
 Board
 of
 Directors
 of
 Kinwong
 has
 four
 specialized
 committees:
 the
 Strategy
 and
 ESG
 Committee,
 the
 Audit

making.
In
accordance
with
modern
corporate
governance
principles
and
our
development
needs,
the
Company
considers
             Committee,
the
Nomination
Committee,
and
the
Remuneration
and
Assessment
Committee.
Based
on
their
functional

multiple
factors
such
as
industry
experience,
educational
background,
gender,
and
age
when
selecting
and
appointing
            positioning,
each
committee
assists
the
Board
of
Directors
in
fulfilling
its
decision-making
and
supervisory
responsibili-
directors.
 By
 bringing
 together
 board
 members
 from
 diverse
 backgrounds,
 the
 Company
 has
 successfully
 created
 a
   ties
 in
 areas
 such
 as
 strategic
 planning,
 sustainable
 development,
 director
 nomination,
 compensation
 incentives,
 and

diverse,
complementary,
scientific,
and
efficient
decision-making
body.                                                         audit
supervision.
Each
committee
operates
in
accordance
with
the
principles
of
independence,
objectivity,
and
fairness,

                                                                                  Professional
Knowledge
and
Skills             with
 division
 of
 work,
 systematically
 promoting
 the
 implementation
 of
 related
 specialized
 matters,
 and
 providing

                                                                                                                                professional
support
for
our
standardized
operations
and
sustainable
development.
                                                                                    Technology
          Law,
Finance,

      Name              Position           Gender            Age
(years)                                                        Composition
and
Work
Status
of
Board
Special
Committees
                                                                                     Industry            or
Accounting
                                                                                                                                                                                                                                  Number
of
Meetings
Held

                                                                                                                                      Committee
Name                                 Committee
Members
                      Chairman
of
                                                                                                                                                                                               Duringthe
Reporting
Period
    Liu
Shaobai
                       the
Board
                                              Male                 63                  ¡Ì                     ¡Ì
                                                                                                                                Strategy
and
ESG
Committee          Liu
Shaobai
(Chair),
Cheuk
Yung,
Zhou
Guoyun                               4
                                                                                                                                       Audit
Committee              Cao
Chunfang
(Chair),
Zhou
Guoyun,
Cheuk
Yung                              8
                     Vice
Chairman
                                                                                                Nomination
Committee             Xin
Guosheng
(Chair),
Cao
Chunfang,
Huang
Xiaofen                          5
    Cheuk
Yung
                      of
the
Board
                                              Male                 58                   ¡Ì                    ¡Ì
                                                                                                                                     Remuneration
and

                                                                                                                                                                    Zhou
Guoyun
(Chair),
Xin
Guosheng,
Liu
Shaobai                             4
                                                                                                                                   Assessment
Committee
                                                                                                                                Board
Effectiveness
    Huang
Xiaofen       Director             Female                62                                        ¡Ì                  Kinwong
 has
 established
 a
 systematic
 annual
 evaluation
 mechanism
 for
 the
 operational
 effectiveness
 of
 the
 Board
 of

                                                                                                                                Directors.
This
mechanism
covers
the
Board
as
a
whole
and
its
key
functional
areas.
By
regularly
issuing
the
Annual
Work

                                                                                                                                Report
of
Board
of
Directors,
the
Annual
Performance
Report
of
Audit
Committee,
the
Annual
Duty
Report
of
Independent

                                                                                                                                Directors,
 and
 the
 Special
 Report
 on
 Independent
 Directors'
 Independence
 Self-Assessment,
 it
 conducts
 multi-
    Cheuk
Kwan          Director             Female                59                                         ¡Ì                 dimensional
reviews
and
evaluations
of
the
operation
of
the
Board
and
its
committees,
as
well
as
the
independence
and

                                                                                                                                effectiveness
of
independent
directors'
performance.
This
ensures
scientific
decision-making
and
effective
supervision
by

                                                                                                                                the
Board,
continuously
improving
the
corporate
governance
level.
                                                                                                                                According
to
our
articles
of
association,
if
a
director
fails
to
attend
two
consecutive
board
meetings
in
person
and
does
not

    Liu
Yu         Director,
President        Male                 39                   ¡Ì                                       appoint
another
director
to
attend
on
their
behalf,
they
are
deemed
unable
to
perform
their
duties.
The
Board
of
Directors

                                                                                                                                should
recommend
to
the
Shareholders'
Meeting
that
they
be
replaced.
                     Employee
                                                                                                     Key
Performance
    Deng
Li    Representative
Director,       Male                 48
                                                                                         ¡Ì
                   Vice
President                                                                                                    During
the
reporting
period,
                                                                                                                                     the
average
attendance
rate
of
Board
meetings
was
100%.
                     Independent

    Xin
Guosheng
                       Director
                                              Male                 73                    ¡Ì                   ¡Ì
                                                                                                                                Information
Disclosure
                                                                                                                                Kinwong
 continuously
 improves
 its
 information
 disclosure
               Key
Performance
                                                                                                                                mechanism,
 enhancing
 overall
 information
 transparency
 by

                     Independent
                                                                                               consistently
 advancing
 the
 institutionalization
 and
 standardiza-
    Zhou
Guoyun
                       Director
                                              Male                 41                   ¡Ì                                                                                                                   During
the
reporting
period,
                                                                                                                                tion
 of
 information
 disclosure.
 During
 the
 reporting
 period,
 the

                                                                                                                                                                                                            the
Company
issued
238
announcements.
                                                                                                                                Company
revised
the
Information
Disclosure
Management
System

                                                                                                                                and
 newly
 formulated
 the
 Information
 Disclosure
 Postponement

                     Independent
                                                                                               and
 Exemption
 Business
 Management
 System,
 enhancing
 the

    Cao
Chunfang                              Male                 40                                         ¡Ì                 standardization
 of
 governance
 and
 operations,
 and
 effectively

                       Director
                                                                                                                                safeguarding
 the
 legitimate
 rights
 and
 interests
 of
 shareholders,

                                                                                                                                creditors,
and
other
stakeholders.
                                                            -93-                                                                                                                               -94-
                       Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                                                        2025
Sustainability
Report
Investor
Relations
Management                                                                                                             Internal
Audit
Procedure
To
effectively
maintain
investor
relations,
the
Company
has
established
a
systematic,
diversified
investor
communication

mechanism,
 maintaining
 active
 interaction
 with
 investors
 through
 the
 Shareholders'
 Meeting,
 earnings
 briefings,

roadshows,
online
communication
platforms,
and
other
various
compliance
channels.
During
the
reporting
period,
the
                                                                                                                                             Audit

                                                                                                                                                                                                                     Audit
                Audit

Company
 strictly
 complied
 with
 the
 information
 disclosure
 norms
 of
 securities
 regulatory
 authorities
 and
 exchanges,
                    Audit
               Audit
                Audit
                                                      Rectification

ensuring
all
communication
activities
adhered
to
the
principle
of
fair
disclosure.                                                                                                                                  Report                Result
           Tracking
and

                                                                                                                                                   Initiation          Notification       Implementation                                                       Archive

                                                                                                                                                                                                                  
Preparation           Feedback
                                                                                                                                                                                                                                                            Management
To
 effectively
 safeguard
 the
 legitimate
 rights
 and
 interests
 of
 small
 and
 medium-sized
 investors,
 the
 Company
 has

formulated
and
implemented
the
Small and Medium-Sized Investor Separate Vote Counting Management Measures,
ensuring
that

the
participation
and
voice
of
small
and
medium-sized
investors
are
fully
respected,
further
promoting
the
fairness
and

inclusiveness
of
corporate
governance.
    Key
Performance
                                                                                                                                            Internal
Control
Business
Construction
of
                                           Internal
Control
Construction
of

    During
the

reporting

period,
                                                                                                                                            Procurement
 Management
 Department
                                                 Environmental
Management

    the
Company
answered
a
total
of
61
questions
on
the
SSE
e-Interaction
platform,
held
3
earnings
briefings,                              and
Central
Material
Control
Department

    and
 hosted
 over
 700
 investors
 through
 methods
 such
 as
 roadshows,
 reverse
 roadshows,
 broker
 strategy
                                                                                                            Output:
Internal
Control
Evaluation
of

                                                                                                                                            Output:
Internal
Control
Management

    sessions,
and
on-site
surveys.                                                                                                                                                                                               Environmental
Management
Department

                                                                                                                                            Manual
for
Procurement
Management
                                                                                                                                            Internal
Control
Construction
of
Human

                                                                                                                                            Resources
Management
Business                                                        Anti-Bribery
Internal
Audit
Work
                                                                                                                                            Output:
Internal
Control
and
Compliance
                                             Output:
2025
Anti-Bribery
Internal
Audit

                                                                                                                                            Integrated
Management
Operation
Manual
                                              Report
  Strengthening
Risk
Prevention
and
Control                                                                                                 for
Human
Resources
Management
Kinwong
 adheres
 to
 compliance
 development,
 continuously
 improving
 internal
 control
 systems
 and
 measures,
 and

establishing
 a
 sound
 risk
 management
 system.
 The
 Company
 builds
 a
 solid
 internal
 protection
 system
 for
 operational

safety
and
long-term
development,
ensuring
that
all
businesses
continue
to
operate
within
a
standardized
and
transpar-
ent
framework.
Internal
Control
During
the
reporting
period,
Kinwong
further
revised
and
implemented
the
Internal Audit Management Measures,
continu-
ously
 improving
 the
 internal
 control
 system.
 Our
 internal
 audit
 work
 focuses
 on
 the
 authenticity
 and
 completeness
 of

financial
information,
the
effectiveness
of
internal
control
and
risk
management,
and
the
efficiency
and
effectiveness
of

operating
 activities.
 It
 conducts
 systematic,
 normalized
 special
 audits
 of
 the
 Company
 itself
 and
 all
 its
 branches
 and

subsidiaries.
Audit
content
primarily
covers
aspects
such
as
economic
benefit
evaluation,
fairness
of
procurement
prices,

and
the
establishment
and
implementation
status
of
key
processes
and
systems.
                                                                                                                                          Risk
Management
The
Company
audits
the
deposit
and
usage
of
raised
funds
semi-annually
and
provides
an
opinion
on
the
authenticity
and
                   Based
on
the
Guidelines for Enterprise Comprehensive Risk Management of Central Enterprises
and
related
norms,
combined
with

compliance
of
the
use
of
raised
funds.
Simultaneously,
the
Company
selects
key
business
and
management
areas
annually
                    its
own
operating
characteristics,
the
Company
categorizes
its
main
risks
into
six
categories:
strategic,
financial,
market,

to
conduct
internal
control
special
audits,
advancing
internal
control
construction
work,
and
producing
corresponding
                    operational,
 legal,
 and
 compliance.
 To
 scientifically
 assess
 risk
 levels,
 the
 Company
 uses
 a
 risk
 coordinate
 map
 as
 an

work
manuals,
effectively
promoting
the
continuous
optimization
of
various
company
functions
and
businesses.                              analysis
 tool,
 conducting
 comprehensive
 quantitative
 evaluation
 from
 two
 dimensions:
 "likelihood
 of
 risk
 occurrence"

                                                                                                                                          and
"degree
of
impact
on
business
objectives
after
risk
occurrence,"
thereby
achieving
systematic
identification,
classifi-
                                                                                                                                          cation,
and
continuous
monitoring
of
various
risks.
                                                                -95-                                                                                                                                       -96-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.          2025
Sustainability
Report
                         -97-           -98-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
                         -99-           -100-
                 Shenzhen
Kinwong
Electronic
Co.,
Ltd.                                                                                                                                                           2025
Sustainability
Report
During
the
reporting
period,
the
 Company
 conducted
 a
 total
 of
 2
 anti-bribery
 and
 anti-corruption
 training
 sessions,
 covering
 100%
 of

directors,
management,
and
employees;
the
proportion
of
employees
signing
the
integrity
commitment
letter
was
100%;
the
proportion
of
suppliers
signing
the
anti-bribery
commitment
letter
was
100%;                                         During
the
reporting
period,
no
unfair
competition
lawsuits/administrative
penalties
occurred;                                                        the
Company
conducted
a
total
of
108
data
security
and
customer
privacy
protection
training
sessions;
no
violations
occurred
in
areas
such
as
corruption
or
bribery,
conflicts
of
interest,
money
laundering,
or
insider
      we
conducted
6
related
emergency
drills;
trading;                                                                                                                 no
confirmed
data
security
incidents
occurred;
no
unfair
competition
lawsuits/administrative
penalties
occurred.                                                        no
confirmed
customer
privacy
leakage
incidents
occurred.
                                                       -101-                                                                                                                 -102-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
                         -103-          -104-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
                         -105-          -106-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.                   2025
Sustainability
Report
                         -107-          -108-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.                   2025
Sustainability
Report
                         -109-          -110-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
                         -111-          -112-
                         Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
    Key

Performance


    Indicators
                                                  -113-          -114-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
                         -115-          -116-
Shenzhen
Kinwong
Electronic
Co.,
Ltd.           2025
Sustainability
Report
                         -107-          -118-