Great River Smart Logistics Co., Ltd.
Sustainable Development Standardized Governance Environmental Management
(ESG) Management and Robust Operation and Ecological Protection
Product Responsibility Employee Recruitment Partnership Cooperation
and Customer Service and Talent Development and Industry Advancement
About This Report
Chairman's Message 01
An Overview of Great River
Smart Logistics 03
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
About This Report
Report Information Statement Reference Guidelines
This is the seventh Sustainability report published by Great River Smart Logistics Co., Ltd. (hereinafter referred to as“Great River Smart ”“the Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange—Sustainability Report (For Trial Implementation)
Company,” or “we”). This report articulates the Company's sustainability philosophy and policies, as well as our efforts in environmental Self-Regulatory Guidance No. 3 for Companies Listed on Shenzhen Stock Exchange—Preparation of Sustainability Report
protection, social responsibility, and corporate governance throughout 2025, addressing the expectations and concerns of our stakeholders.
SDG Compass: The Guide for Business Action on the SDGs
GRI Standards for Sustainability Reporting
The Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD)
Time Frame
This report covers the period from January 1, 2025, to December 31, 2025. For continuity of information, certain contents have been
retrospectively reviewed or extended. All information included is derived from the Company's internal data and publicly available materials.
Access to the Report
This report is published in electronic form and is available on the Company's official website (www.grsl.cn) and the CNINFO website (www.cninfo.
Scope of the Report com.cn).
The organizational scope of this report encompasses all business operations of Great River Smart Logistics Co., Ltd. and its subsidiaries,
consistent with the scope disclosed in the Company's annual report.
Disclaimer
Data Statement
This report aims to disclose the Company’s performance in Environmental, Social, and Governance (ESG) aspects for the year 2025. All
information and data contained herein are for reference only. Readers are advised to conduct their own research and evaluation of the
All data and case studies presented in this report are sourced from official company documents and statistical reports, and have undergone information provided and to consult appropriate professionals before making any decisions. The Company does not accept any responsibility
internal verification. or liability for any direct or indirect loss arising from the use of the information contained in this report for purposes beyond its intended scope.
The operational data disclosed herein is derived from the “Great River Smart Logistics Co., Ltd. 2025 Annual Report” (hereinafter referred to For any questions or suggestions regarding this report, please contact us at:
as the “Annual Report”). In case of any discrepancies, the Annual Report shall prevail. Unless otherwise specified, all monetary amounts in
Great River Smart Logistics Co., Ltd. Tel: 0769-88002930 Email: grsl@grgroup.cc
this report are denominated in CNY.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Chairman's Message
With a far-reaching vision and an enduring drive for progress, like a intelligence with industrial scenarios to foster new drivers for growth. As of the end of 2025, Great River Smart operated 14 terminals and 1,042 storage
great river flowing ceaselessly, 2025 marked the successful conclusion tanks, with a total capacity exceeding 5 million cubic meters and over 150,000 square meters of chemical warehouses in operation. Our core asset base
demonstrated steady expansion, and our comprehensive service capabilities continued to improve.
of China's 14th Five-Year Plan and was also a year in which Great
River Smart Logistics advanced with clear strategic direction amid
Driving Resolute Transformation, Shaping the Future Blueprint
transformation and reinforced its foundations under pressure. During
the year, in the face of a complex situation characterized by continuous Swift in tailwinds, steady in headwinds. 2025 was a pivotal year for deepening comprehensive reforms at Great River Smart Logistics. We applied
adjustments in industry demand and profound cyclical restructuring, systemic thinking to build a scientific operations management framework, achieving breakthroughs in strategy, organization, and mechanisms to inject
strong organic momentum enous momentum into our long-term sustainable development.
we maintained strategic focus, upheld our core value of being
customer-centric, and advanced forward our strategic transformation
Over the past year, we established a strategic pivot from being “Resource-Driven” to “Capability-Driven,” accelerating our transition into an
from a traditional storage service provider to an integrated supply integrated supply chain service provider for the energy and chemical sectors. By integrating resources and exporting our capabilities, we explored asset-
chain service provider for the energy and chemical sectors. All GR team light service models and provided upstream and downstream customers with bespoke, integrated solutions spanning storage, transportation, and
members rose to challenges with pragmatism and embraced change to agency services. This facilitated the seamless convergence of trade, logistics, capital, and information flows.
chart the course for the future. Amid an uncertain market environment,
We continued to refine our modern enterprise system and elevate corporate governance standards. In December 2025, the successful inaugural
we moved with certainty and resolve, delivering an annual performance
transition of the Rotating President marked the normalization of this mechanism. Concurrently, we comprehensively revised our Articles of Association
characterized by stability as the priority, progress in every step, and and governance policies in accordance with the updated Company Law. This upgrade transitioned our decision-making from individual wisdom to
quality as the long-term focus. collective intelligence and from experience-driven to mechanism-driven, ensuring the organization’s steady and sustained progress through scientific
governance.
Prioritizing Stability While Pursuing Progress, Fortifying the
Upholding Responsibility and Benevolence, Deepening our ESG Commitment
Foundations of Growth
Great River Smart Logistics has long regarded “creating holistic value for society” as its key mission. By deeply embedding ESG principles into our
In 2025, the domestic chemical storage industry faced sustained corporate culture and throughout the entire operational lifecycle, we have fortified the roots and fueled the momentum for the company's sustainable
development.
demand-side pressure, while market competition grew increasingly
rational. Despite the temporary decline in revenue and gross margins,
Over the past year, with HSE (Health, Safety, and Environment) as our cornerstone, we continued to increase investment in safety and environmental
Great River Smart Logistics remained committed to its long-term stable technologies, driving the deep integration of digital and intelligent tools into terminal management to firmly uphold our safety and environmental
development strategy. We anchored our focus on integrated supply bottom line. By advancing the upgrade of storage and transportation facilities for green products, we supported the green, low-carbon transition
chain layouts, the construction of a nationwide logistics network, and of the regional energy and chemical sectors, with the results of our energy conservation and emission reduction efforts steadily becoming evident.
Furthermore, we extended our integrity and compliance standards to supply chain management, working with partners to build a transparent, fair, and
digital transformation to continuously enhance operational efficiency.
equitable business ecosystem.
Over the past year, we further optimized our large-scale, nationwide storage In addition, leveraging multiple platforms such as the Haoshang Public Welfare Fund, 620 GR Charity Day (20 June), Great River Spark Volunteer Team,
and logistics network, fortifying the core hubs essential for the delivery of and the Employee Mutual Aid Fund, we actively fulfilled our social responsibilities in areas including rural vitalization, education support, elderly care,
integrated supply chain services. Newly constructed and expanded chemical support for military personnel and their families, and community development.
storage projects in Chengdu, Changshu, and Changzhou commenced
With the wind in our sails for the journey ahead, we set forth once more to embrace our formidable responsibilities.
operations successively, while projects in Huizhou and Zhongshan
progressed steadily, providing robust storage and logistics infrastructure for In the coming year, Great River Smart Logistics will remain true to its original aspiration and maintain its strategic focus. We will deepen our presence in
the development of regional energy and chemical sectors. Furthermore, integrated supply chain services for the energy and chemical sectors, anchoring our growth through prudent operations and activating internal vitality
in active response to the national “East-to-West Computing Resource through reform and innovation. Guided by ESG principles, we are committed to building a supply chain ecosystem that is safe, green, efficient, and
open. Our goal is to become an indispensable, platform-based organization in the global energy and chemical supply chain, moving steadily toward a
Transfer” initiative, we leveraged years of accumulated industry data toto
Chairman, world-leading position.
林海川 Great River Smart
further strengthen our capabilities in computing power infrastructure and
big data services.. Through the founding of Beijing Great River Intelligent We remain firmly convinced that, through the joint efforts of all GR team members, the Company will forge ahead steadily on the path of sustainable development. With
Computing Technology Co., Ltd. and Dongguan Great River Rongxin Big robust operational results and enduring social value, we will continue to reward our shareholders, empower the industry, and honor the expectations of our era.
Data Technology Co., Ltd., we are exploring the deep integration of data
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
An Overview of Great River Smart Logistics
Company Profile The Company is headquartered listed on the Shenzhen Stock Exchange on March 28, 2018
in Dongguan, Guangdong Province (stock name: Great River Smart Logistics; stock code: 002930).
Great River Smart is a national model in chemical logistics safety management and a leading private chemical storage enterprise. The Company
is committed to becoming a globally leading integrated supply chain service provider for the energy and chemical industries. We primarily offer
Total tank capacity: Total warehouse capacity: Total land area: over
comprehensive logistics services, including storage and transportation, to Chinese and foreign petrochemical producers, traders, and end users. We are
continuously upgrading our business toward digitally and intelligently driven integrated and customized supply chain services. Leveraging cutting-edge
technologies such as big data and artificial intelligence to optimize operational planning and dispatch, we integrate warehousing network resources
nationwide and connect every stage of the supply chain to provide customers with a full package of end-to-end solutions across the entire network and Number of storage tanks:
Number of storage facilities: Number of storage facilities:
value chain.
Development History, Business Layout,
and Service Portfolio
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
corporate culture
HSE Culture
People-oriented,
ensuring health, safety,
and environmental protection
Vision Core Values Mission
Family-Care Culture
To become a globally leading Committed to long-term principles Provide quality services to customers
“100% Gratitude”program for filial piety to parents
energy and chemical storage HSE as foundation Build development platforms “Family Journey”program for family care
and logistics service provider Customer-centric for employees “Employee Mutual Aid Fund”for colleagues in need
Contributor-oriented Create comprehensive value
Continuous self-transformation for society
Generate substantial returns
for shareholders Satisfaction Culture
Satisfied employees provide satisfactory service
to customers
Employee satisfaction
Department satisfaction
Customer satisfaction
Employee Focus Leading Culture
Leading enterprises
Leading team and management
Leading talents and concepts
Leading benefits
Communication Culture
Supervisors to subordinates: More praise,
more encouragement
Subordinates to supervisors: More suggestions,
more discussions to resolve problems
Collaboration Culture
Internal complementary assistance
and mutual progress
External coordinated development
and one-stop service
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Business Footprint Specialized Services
Tank Washing Universal Commodity Hazardous Chemical
End-to-End Integrated
and Wastewater Deposit and Vehicle Highway
Supply Chain Services
Treatment Services Withdrawal Services Port Services
Designated Delivery Warehouse Qualifications
Certain storage facilities of the Company boast designated delivery warehouse qualifications from the Dalian Commodity Exchange (DCE) and the
Zhengzhou Commodity Exchange (ZCE). These facilities can thus provide warehousing and other services for the physical delivery of specified
commodity futures contracts, as detailed below:
Exchange Commodity Storage Facilities
Dongguan Evergrowing Terminal, Nantong Power Shell Petrochemical,
Styrene
Changzhou Great River
Service Portfolio
Dongguan Evergrowing Terminal, Taicang Power Shell Petrochemical,
Ethylene Glycol Nantong Power Shell Petrochemical, Changzhou Great River, Changshu
DCE Great River
Chemical Pure Benzene Changzhou Great River, Fujian Gangfeng Energy
Bulk Chemical Chemical Tank Trucks Railway Tank Box Trucks Warehouse Terminal Tank Vessel Unloading
Vessels Plants Cars Storage Services Storage Services Services
Ta i c a n g Po w e r S h e l l Pe t r o c h e m i c a l , N a n t o n g Po w e r S h e l l
Methanol
Petrochemical, Changzhou Great River
Pipeline Truck Unloading Railway Container Truck Loading Railway Loading Vessel Loading
Transportation Services Unloading Services Handling Services Services Services Services
Service
ZCE
Propylene Changzhou Great River
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Honors and Ratings Title Awarded by Awarded to
Citywide Advanced Unit for Contribution to The CPC Rugao Municipal Committee and the Rugao Nantong Power Shell
Service Industry Development 2024 Municipal People's Government Petrochemical
Honors from the Government
Outstanding Contribution Enterprise for Foreign The CPC Lanshan District Committee and the Lanshan
Rizhao Great River
Trade and Investment 2024 District People's Government, Rizhao
Title Awarded by Awarded to Anti-Terrorism Leading Group Office,
Advanced Unit in Anti-Terrorism 2024 Rizhao Great River
Lanshan District, Rizhao
Excellence in Border Inspection Integrity Advanced Enterprise for Economic CPC Lanshantou Subdistrict Working Committee
Changshu Entry-Exit Border Inspection Station Changshu Great Smart Rizhao Great River
Management 2024 Development 2024 and Lanshantou Subdistrict Office
The CPC Changzhou Municipal Committee and
Three-Star Enterprise in Modern Services 2024 Changzhou Great River
the Changzhou Municipal People’s Government
Honors from Industry Associations
Contribution Award for Technological Management Committee of Changzhou Binjiang
Changzhou Great River
Innovation 2024 Economic Development Zone, Jiangsu
Special Tax Contribution Award 2024 Management Committee of Changzhou Binjiang Changzhou Great River Title Awarded by Awarded to
The CPC Changzhou Municipal Committee and Outstanding Petrochemical Storage and Logistics Organizing Committee of the China Petroleum Great River Smart
Star Enterprise 2024 Changzhou Great River
the Changzhou Municipal People’s Government Enterprise of China 2025 and Chemical Industry Annual Conference; JLC Logistics
The CPC Shatian Town Committee and the Dongguan Evergrowing Outstanding Practice Case for Board of Great River Smart
Top 10 Enterprises by Main Business Revenue China Association for Public Companies
Shatian Town People's Government, Dongguan Terminal Directors 2025 Logistics
Great River Smart
Major Taxpayer 2024 ( CNY 5M–10M) Huian County People's Government Fujian Gangfeng Energy ESG Best Practice Award 2025 Dongguan Municipal Association for Public Companies
Logistics
Changzhou Great River,
The CPC Jingfeng Town Committee and the
Large Taxpayer 2024 Fujian Gangfeng Energy Outstanding QHSE Management Case Dongguan Evergrowing
Jingfeng Town People's Government China Federation of Logistics and Purchasing
in Chemical Logistics 2025 Terminal, Zhongshan GR
Terminal
Demonstration Enterprise for Standardized Full- Office of Quanzhou Municipal Work Safety Innovative Enterprise in Chemical Logistics
Fujian Gangfeng Energy China Federation of Logistics and Purchasing Changzhou Great River
Responsibility Implementation Committee Supply Chain Services 2025
Special Progress Award 2025 Changlu Subdistrict Office, Jiangbei New District Nanjing Great River
Honors from Partners
Citywide Advanced Unit for Investment in The CPC Rugao Municipal Committee and the
Nantong Great Smart
Service Industry 2024 Rugao Municipal People's Government
Title Awarded by Awarded to
Citywide Advanced Unit for Contribution to The CPC Rugao Municipal Committee and the Nantong Power Shell
Service Industry Development 2024 Rugao Municipal People's Government Petrochemical
Dongguan Evergrowing
Outstanding Logistics Partner 2025 Sinopec Chemical Sales Co., Ltd. South China Branch
Terminal
Citywide Advanced Unit for Investment in The CPC Changjiang Town Committee and the Nantong Power Shell
Service Industry 2024 Changjiang Town People's Government, Rugao Petrochemical Nantong Power Shell
Outstanding Logistics Service Provider 2024 Sinopec Chemical Logistics Co., Ltd.
Petrochemical
Advanced Unit for High-Quality The CPC Rugao Municipal Committee and the Nantong Power Shell
Development 2024 Rugao Municipal People's Government Petrochemical Outstanding Logistics Service Provider 2024 Guangxi Huayi New Materials Co., Ltd. Zhongshan GR Terminal
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Sustainable Development
(ESG) Management
Sustainable Development (ESG) Management 13
Due Diligence 13
ESG Management Framework 14
Stakeholder Communication 15
ESG Topic Materiality Assessment 16
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Sustainable Development (ESG) Management ESG Management Framework
Sustainable Development Goals (SDGs) and Responses
The Company is guided by its core mission: to deliver exceptional service to customers, foster employee growth and development, generate
holistic value for society, and maximize shareholder returns. The Company has strategically integrated ESG principles into its corporate strategy,
continuously refining its ESG governance framework with clearly defined objectives. While driving business performance, the Company remains
The Company has formulated the medium-and long-term strategic goals covering environmental, social, and corporate governance dimensions, and
committed to enhancing its sustainability practices, addressing stakeholder expectations, and creating enduring societal value, all of which support
regularly tracked the achievement of ESG management goals under each dimension, so as to ensure the effective implementation of sustainable
development work and help it achieve high-quality growth and social value symbiosis. its trajectory of sustainable, high-quality growth.
The Company has implemented a robust ESG management system with active oversight to ensure long-term sustainability. The Board's Strategy
Material Topic Response SDGs Management Objectives Progress and Sustainable Development Committee provides governance and accountability for sustainability matters, supported by a dedicated Sustainable
Development Leadership Working Group that drives the implementation of ESG initiatives across the organization.
mechanisms, respond to the national
"carbon peaking & carbon neutrality"
Scope 2 of the Company were 23,086.83tCO2e, a
st rateg y, a n d e n s u re t h at t h e
year-on-year decrease of 6.46%;
Climate Change Response Company achieves carbon peaking
before 2030 and carbon neutrality
occurred; the Company completed ISO14001
before 2060 ;
environmental management system certification.
environmental management systems.
Strategy and Sustainable Sustainable Development Leadership
business integrity clauses; annual comprehensive evaluations, with 100% of
Supply Chain Security
are evaluated using ESG dimensions. 2. In 2025, 100% of new suppliers were evaluated Board of Directors Remuneration and Assessment Committee
using ESG dimensions.
management system certification Nomination Committee
obtained ISO9001 quality management system
coverage;
Product and Service Safety certification;
and Quality 2. Ensure a 100% timely handling
rate for major customer complaints
handled, with no major customer complaints
regarding service quality during the
throughout the year. HSE and Innovation Committee
reporting period.
Science and Technology
reached 51,495.82 hours, with an average training
duration of 26.16 hours per employee, and a
of employee training remain at the
vocational training investment of CNY2.116
forefront in the industry;
Employee Matters million;
employees are covered by occupational
were covered by occupational disease physical
disease physical examination.
examination, with the incidence rate of As the highest governing body responsible for the Company's ESG matters, the committee
occupational disease being 0%. establishes strategic directions for sustainable development, oversees and guides the
implementation of ESG initiatives, and ensures the effective execution of the Company's ESG
Due Diligence management activities.
Management Level ——Sustainable Development Leadership Working Group
Strictly benchmarking against international standards and domestic practice requirements, and based on the disclosure standards for due diligence
on sustainable development reports in relevant policies and guidelines, Great River Smart conducts comprehensive due diligence on its business. Comprised of senior executives, this group formulates ESG management objectives
The Company has established a Strategy and Sustainable Development Committee as its ESG governance body to comprehensively coordinate aligned with the Company's current development phase and monitors progress
due diligence related activities, of which the core responsibilities include: reviewing the Company's ESG strategic goals and due diligence plans, toward achieving these objectives.
supervising the standardization and effectiveness of due diligence process, ensuring the independence, systematicity, and authority of due diligence
activities, and providing top-level institutional guarantees for the orderly implementation of the entire process. Execution Level ——Centers/Departments and Subsidiaries
In the identification and management of sustainable development risks, the Company adopts both qualitative and quantitative methods to identify
various risks. At the beginning of each year, the Risk Management Committee coordinates various centers and departments to comprehensively These operational units implement specific ESG-related activities
review emerging risks related to strategy, market, operations, finance, compliance, climate change, and data security, uses risk databases and risk according to established management indicators and mechanisms,
matrix tools to assess the occurrence likelihood and impact of risks, and classifies various risks into major, important, and minor levels; in response while regularly reporting progress to the Sustainable Development
to major risks, the Company develops a special response plan, clarifying the responsible parties, response strategies, and rectification deadlines; Leadership Working Group.
with respect to routine operational risks, the Company implements rigid control through internal control manuals, authorization guidelines, and
standardized operating procedures; in key areas such as exchange rate fluctuations, supply chain disruptions, and environmental compliance, the
Company sets warning indicators and conducts dynamic monitoring, so as to achieve rapid response and effective control for risks.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Stakeholder Communication ESG Topic Materiality Assessment
Deeply aware that the opinions and expectations of various stakeholders have a significant impact on the operation and development of the Company,
Accurately identifying and assessing material topics is an important part of ESG management, which helps the Company focus on key areas, and
Great River Smart always pays attention to the opinions and demands of internal and external stakeholders, resolutely builds a diversified communication
clarify ESG strategic planning and work priorities. In 2025, aiming to improve the construction of its own ESG information disclosure system, taking
mechanism, establishes close contacts with stakeholders, actively communicates with stakeholders through more channels and more ways, continuously
into account the new expectations of stakeholders for enterprise management and development, referring to the Self-Regulatory Guidelines No.
optimizes its sustainable development strategies, and accepts supervision from various stakeholders. By reference to the Code of Corporate Governance for
Listed Companies of the China Securities Regulatory Commission, the Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange—
Companies Listed on Shenzhen Stock Exchange—Preparation of Sustainability Report, the UN Sustainable Development Goals (SDGs), GRI Universal
Sustainability Report (For Trial Implementation), the Self-Regulatory Guidance No. 3 for Companies Listed on Shenzhen Stock Exchange—Preparation
Standards 2021, ISO 26000, and other sustainability-related standards, Great River Smart Logistics conducted the ESG topic materiality assessment
of Sustainability Report, and the AA1000 SES (Accountability - Stakeholder Engagement Standard), and on the basis of definitions and descriptions
based on the characteristics of its industry and business.
of stakeholders therein, Great River Smart has identified shareholders/investors, customers, suppliers, employees, government/regulatory agencies,
Sorting out the relationship between activities and business background of the Company:
communities, and the environment as its primary stakeholder categories.
Stakeholder Communication Channels
Focus Areas Company Responses
Categories and Frequency
The Company gained an understanding of its activities and business relationships, including its products and
Investor hotline (weekly)
Corporate governance
Strengthened Board oversight 01 services, strategic planning, upstream/downstream value chains, and other related information.
Email newsletter (monthly) Advanced carbon neutrality goals
Climate change response
Shareholders meetings (annually) Enhanced data protection encryption
Shareholders/Investors Data security and customer privacy protection
Earnings release meeting (quarterly) Optimized energy structure
Energy utilization
Investor relations website update (monthly) Improved supply chain resilience
Supply chain security The Company gained an understanding of the external objective environment, and analyzed relevant laws and
Interim announcements (irregularly) Increased financial transparency
regulatory policies, as well as media reports, industrial analysis, specific industrial standards, research reports,
Reduced carbon emissions
Conference call (monthly) Climate change response and other specific public documents.
Improved governance structure
Email correspondence (weekly) Corporate governance
Enhanced product safety
Customer visits (quarterly) Product and service safety and quality
Customers Optimized employee benefits
Online chat (irregularly) Employee matters
Strengthened data protection
Annual meetings (annually) Data security and customer privacy protection
Customer feedback surveys (semi-annually) Stakeholder communication
Increased communication 03 The Company identified the main affected stakeholders and analyzed the existing stakeholder engagement methods.
transparency
Email correspondence (weekly) Climate change response Established clear emission reduction targets
Conference call (monthly) Waste management Implemented classified recycling
Suppliers
Site visits (quarterly) Green operations Operated energy-efficient systems Establishing A List of Topics
Supplier conferences (annually) Energy utilization Prioritized renewable energy
Instant messaging (irregularly) Environmental compliance management Conducted rigorous environmental audits
Business review meetings (semi-annually) Circular economy Promoted resource recycling On the basis of the 21 topics set in the SZSE's Guidelines, in accordance with the regulatory policies, regional regulations, and industrial standards,
and by reference to companies in the same industry or value chain that have performed well in sustainable development in the long run, the
Company added specific topics with high industrial attention, and ultimately formed a list of 21 identified topics, including:
Implementedemployeedevelopment
Internal emails (weekly) Employee rights and benefits
programs
Enterprise WeChat (weekly) Corporate governance
Maintainedtransparentgovernancestructure
Townhall meetings (quarterly) Data security and customer privacy protection
Employees Reinforcedprivacyprotectionencryption
Training sessions (semi-annually) Environmental compliance management
Upheldenvironmentaloperationalstandards social topics Sustainable development
Performance evaluations (annually) Supply chain security environmental topics
Enhanced supply chain transparency
Emergency meetings (irregularly) Occupational health and safety governance topics.
Provided health and safety training
Articles of Association Policy feedback
meetings (irregularly)
Climate change response Reduced carbon emissions
Corporate governance Enhancing Board functionality
Regulatory compliance reviews (annually)
Government/Regulatory Product and service safety and quality Enhanced product safety
Emergency notifications (irregularly)
Authorities Data security and customer privacy protection Enhanced data protection encryption
Assessing and Analyzing the Materiality of Topics
Regular regulatory communications
Employee matters Optimized employee benefits
(irregularly)
Environmental compliance management Reinforcing environmental monitoring
Industry seminars (annually)
The Company invited experts in the field of sustainable development and other stakeholders to fill out a questionnaire on materiality of topics by
Community meetings (irregularly) Climate change response reference to the SZSE's material topic identification process, and assessed the materiality of topics from two aspects (namely financial materiality
Reduced carbon emissions
Environmental reports (annually) Waste management and impact materiality) based on the topic materiality assessment by internal employees. For financial materiality, the Company considered
Promoting recycling
Community and Online forums (irregularly) Green operations whether a topic is expected to have a significant impact on the Company's business mode, operations, development strategy, financial status,
Implementing green office practices
Environment Open days (irregularly) Environmental compliance management
Optimizing water efficiency operating results, cash flow, financing methods, and costs in the short, medium, and long term. For impact materiality, the Company considered
Newsletter (monthly) Water resource utilization
Preserving biodiversity whether the performance in the corresponding dimensions will have actual or potential significant impacts on the economy, society, and
Emergency notifications (irregularly) Ecosystem and biodiversity protection
environment, and also quantified the impact materiality of each topic based on the results of questionnaire-based survey among stakeholders.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Confirming Material Topics Quadrant
Overall
Ranking
Material Topic Category
Great River Smart constructed a materiality analysis matrix based on the topic assessment results, obtained the materiality ranking results of topics, Both Financially and Impact Material 1 Climate Change Response Environmental
and highlighted the high-materiality topics in its reports. The Company set thresholds for topics, sorted them according to priority, and ensured
that resources are focused on the most material ESG topics, so as to effectively promote the Company's sustainable development. Both Financially and Impact Material 2 Supply Chain Security Social
Materiality Assessment Conclusions Both Financially and Impact Material 3 Product and Service Safety and Quality Social
Financially Material Only 4 Employee Matter Social
Great River Smart obtained the topic materiality assessment results based on the above-mentioned assessment process, constructed a materiality
analysis matrix according to priority ranking, and finally selected three topics with dual materiality, namely climate change response, supply chain
Impact Material Only 5 Waste Management Environmental
security, and product and service safety and quality. With respect to material topics, the Company has formulated a detailed strategic plan and
provided focused responses and disclosures in its reports, and ensures that resources are concentrated on the most material ESG topics, so as to
Impact Material Only 6 Pollutant Discharge Environmental
effectively promote its sustainable development.
Impact Material Only 7 Innovation-Driven Development Social
Assessment Results for Material Topics of Great River Smart
Sustainable Development
Impact Material Only 8 Due Diligence
Governance
Data Security and Customer Privacy
Impact Material Only 9 Protection
Social
Sustainable Development
Impact Material Only 10 Stakeholder Communication
Governance
Impact Material Only 11 Energy Utilization Environmental
Impact Material Only 12 Environmental Compliance Management Environmental
Impact Material Only 13 Water Resource Utilization Environmental
General Topic 14 Social Contribution Social
Sustainable Development
General Topic 15 Anti-Unfair Competition
Governance
General Topic 16 Circular Economy Environmental
Anti-Commercial Bribery and Anti- Sustainable Development
General Topic 17 Corruption Governance
General Topic 18 Equal Treatment of SMEs Social
General Topic 19 Technology Ethics Social
General Topic 20 Rural Revitalization Social
General Topic 21 Ecosystem and Biodiversity Conservation Environmental
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Standardized Governance
and Robust Operation
Corporate Governance 21
Business Ethics 29
compliant operation 32
Risk Management 33
Intellectual Property 34
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Standardized Governance and Robust Operation
Institutional Development
The Company attaches great importance to its institutional development, consistently regarding the refinement of its rules and regulations as a
vital safeguard for enhancing management, warding off operating risks, and achieving sustainable development. During the reporting period, in
accordance with such laws, rules and regulations, as well as normative documents as the Company Law, the Guidelines for the Articles of Association
Corporate Governance of Listed Companies, and the Arrangements for the Transition Period Concerning the Implementation of Supporting Rules for the New Company
Law issued by the CSRC, the Company has revised its Articles of Association and its appendices: the Rules of Procedure for the General Meeting of
Shareholders (renamed the Rules of Procedure for the Shareholders’ Meeting), and the Rules of Procedure for the Board of Directors based on its
Governance Framework actual conditions. Furthermore, to optimize the corporate governance structure and promote standardized operations, the Company—acting under
the Company Law, the Guidelines for the Articles of Association, the Rules Governing the Listing of Shares on the Shenzhen Stock Exchange, and the
Great River Smart regards the improvement of corporate governance as a vital cornerstone for achieving sustainable development. We are Self-Regulatory Guidelines No. 1 for Companies Listed on Shenzhen Stock Exchange — Standardized Operation of Main Board Listed Companies,
committed to building a scientific, efficient, and transparent governance system, strictly adhering to laws and regulations such as the Company among other laws and regulations, normative documents, as well as self-regulatory rules—has revised, renamed, or developed various governance
Law and the Securities Law. By continuously refining our fundamental institutional framework, including the Articles of Association, the Rules of policies tailored to its actual needs. These efforts have resulted in a scientific, systematic, and highly efficient institutional framework, providing a
Procedure for the Shareholders’ Meeting, and the Rules of Procedure for the Board of Directors, we have established a governance framework with solid foundation for the Company's high-quality development.
clearly defined responsibilities, effective checks and balances, and coordinated operations.
Operation of the Shareholders' Meeting and the Board of Directors
Great River Smart Logistics Co., Ltd.
Shareholders and the Shareholders' Meeting
Shareholders'Meeting
HSE and Innovation Committee
The Shareholders’ Meeting, composed of all shareholders, is the highest authority of the Company. In strict accordance with relevant laws and
Strategy and Sustainable Development Committee
regulations such as the Company Law and the Securities Law, normative documents, as well as the Articles of Association and the Rules of Procedure
Board of Directors Remuneration and Evaluation Committee for the Shareholders’ Meeting, the Company standardizes the procedures for convening, holding, and voting at the Shareholders’ Meeting. We
treat all investors equally, ensuring that shareholders, particularly minority shareholders, can fully exercise their rights, thereby effectively protecting
Nomination Committee
their legitimate interests.
Audit Committee During the reporting period, all Shareholders’ Meetings were convened in compliance with the Articles of Association and the Rules of Procedure
for the Shareholders’ Meeting, with legal counsel present to provide witnessing.
Management Change Management Committee
Terminal & Tank Storage Chemical Warehousing &
Segment Integrated Logistics Segment
During the reporting period
Process & Digital Intelligence Center
Science and Technology Innovation Office
Engineering & Equipment Center
Warehousing Operation Center
Integrated Supply Chain Dept.
Distribution Operation Center
Strategy & Marketing Dept.
Project management office
Human Resources Center
Strategic Customer Dept.
HSE Management Office
Commercial Center
Risk Control Dept.
President's Office
Operation Center
Finance Center
CommercialCenter
Board Office
Audit Dept.
the Company held 13
Shareholders' Meetings
Finance
Dept.
Process
& Digital
Intelligence
Dept.
Human
Resources
Dept.
Engineering
& Equipment
Dept.
Terminal &
Tank Storage
Operation Dept.
Terminal &
Tank Storage HSE Dept.
Operation
Chemical
Operation Dept.
Chemical
Warehousing Distribution Warehousing Subordinate
Commercial
storage areas
Dept. Dept. Dept.
which reviewed 40
proposals/sub-proposals.
Note: This represents the latest organizational structure of Great River Smart Logistics as of January 21, 2026.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Directors and the Board of Directors Management
The Board of Directors currently consists of nine members, including four independent directors who are respectively experts in accounting, industry,
investment, and corporate strategy. Independent directors represent more than one-third of the Board, ensuring that the Board’s composition
meets all legal requirements and the Articles of Association. The Board has established five specialized committees to further optimize the corporate
governance structure. They are the Audit Committee, the Remuneration and Evaluation Committee, the Nomination Committee, the Strategy and Composition of Management
Sustainable Development Committee, and the HSE and Innovation Committee.
During the reporting period
As of the date of this report the Company has four Senior Management members.
the Company held 18 meetings which reviewed 77 proposals.
of the Board of Directors Rotating President System
As the scale expands year by year, the Company actively improves its corporate governance structure to enhance democratic, scientific, and efficient
decision-making. To this end, the Company strictly implements the Rotating President Mechanism.
Specialized Committees In 2025, to further deepen the practice and effectiveness of this mechanism, the Company systematically optimized the Detailed Working Rules for
the President. While maintaining the principle that the Rotating President “serves a one-year term,” the new rules introduce a flexible provision
The Board of Directors has established five specialized committees: the Audit Committee, the Remuneration and Evaluation Committee, the Strategy
that “the term may be extended upon deliberation and approval by the Board of Directors, for a maximum of one additional year.” This adds to
and Sustainable Development Committee, the HSE and Innovation Committee, and the Nomination Committee. Each committee performs its duties
the mechanism’s flexibility in handling specific matters. The rules also optimized the description of the President’s duty of loyalty and diligence
diligently to ensure that all decisions are scientific, democratic, and legally sound.
to ensure better alignment with the Articles of Association. These updates have improved the institutionalization and standardization of corporate
governance, laying a solid foundation for sustainable development.
Number of Number of
Numberof
Committee Primary Responsibilities Meetings Held Proposals
Members
in 2025 Reviewed
Responsible for communication, supervision, and verification of
Audit Committee internal and external audits; reviewing the Company's financial 3 13 30
information and its disclosure.
Optimizing Performance of Duties
Responsible for formulating remuneration standards and schemes
Remuneration
for directors and senior management; reviewing their performance
and Evaluation 3 6 10
and conducting annual performance reviews; supervising the
Committee The Company has developed the Rules of Procedure for the Board of Directors, specifying the notification, convening, holding, and voting procedures
implementation of the Company's remuneration policies.
of Board meetings to ensure that all proposals are reviewed compliantly and efficiently. Furthermore, the Company has comprehensively reviewed
Strategy and past operational experiences to optimize workflows and scientifically schedule Board meetings. To address the challenge of directors working in
Responsible for researching and advising on the Company's long-
Sustainable several different locations, the Company introduced a combination of onsite and electronic voting. Besides, the implementation of an e-signature
term development strategies, major investment decisions, and 3 1 2
Development system for meeting documents has significantly reduced paperwork and improved decision-making efficiency.
sustainable development risks and opportunities.
Committee
Responsible for researching and providing guidance on the
HSE and Innovation
All directors diligently performed their duties, achieving a 100%
Committee
Company’s long-term, annual, and phased plans for HSE and 4 4 4 2025
innovation initiatives. attendance rate at Board meetings.
Responsible for researching and advising on selection criteria,
qualifications, and performance review procedures for directors and
Nomination
senior management; identifying qualified candidates for directors 3 3 5
Committee
and senior management and providing recommendations on their
appointment/replacement to the Board.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Board Diversity Investor Protection and Sustainable Dividends
The Company ensures that independent directors maintain an appropriate proportion of the Board to balance the interests of all stakeholders.
Diversity of professional backgrounds Special meetings of independent directors are convened on an ad-hoc basis for material matters to ensure that corporate operations comply with
laws, regulations, and industry standards. The Audit Committee, Remuneration and Evaluation Committee, and Nomination Committee under the
The Board of Directors comprises members with extensive academic qualifications, professional experience, or scholarly
Board are all led by independent directors to ensure the independence and impartiality of decision-making.
achievements in fields including chemical engineering, finance, law, human resources, and strategy.
Optimization of Voting Mechanisms
Diversity of composition
The Company has implemented an online voting mechanism, enabling minority shareholders to participate in general meetings via digital platforms
The Board consists of nine directors, including four Independent Directors, representing 44% of the total. The age profile of the and thereby enhancing their engagement. In 2025, the investor participation rate at general meetings remained above 50%, excluding matters where
shareholders were required to abstain due to related-party interests.For material matters (such as related-party transactions and equity incentive
Board ranges from 40 to 80 years.
schemes), the Company adopts a class voting mechanism to ensure that the voting rights of minority shareholders are fully respected.The Company
actively promotes the cumulative voting system in the election of board members. This strengthens the voice of minority shareholders and promotes
board diversity, fostering a more equitable and transparent governance environment for the Company.
Diversity of organizational backgrounds
Members of the Board come from a diverse range of organizations, including upstream and downstream industry enterprises, Establishment of Communication Channels
academic institutions, investment firms, and strategic consultancies. This diversity equips the Board with the expertise, industry
experience, and decision-making capabilities necessary to perform their duties. In addition, members’ cross-industry experience
enhances the scientific nature and comprehensiveness of decision-making.
The Company has established a professional Investor Relations team and a comprehensive, multi-layered communication mechanism. In
Diversity of geographic experience the SZSE “Easy Interaction” (irm.cninfo.com.cn) platform, and regular earnings conferences. During 2025, the Company responded
to 54 investor inquiries via the SZSE Easy Interaction platform, achieving a 100% response rate. The Company also participated in the
Board members have extensive professional experience across multiple regions, including North, East, and South China. This
geographic diversity ensures representation of the Company’s key operating markets, thereby strengthening the Board's
Guangdong Association of Listed Companies. Furthermore, the Company successfully held earnings conferences for the 2024 Annual Report
strategic insight.
and the Q1, Semi-annual, and Q3 reports of 2025, engaging in text-based interactive exchanges with investors. Through this standardized,
smooth, and efficient communication system, the Company has significantly enhanced the quality and efficiency of investor engagement,
earning widespread recognition and trust.
Remuneration and Assessment of Directors and Senior Management
The Company is committed to establishing a scientific, standardized, and transparent remuneration management system for its directors and
senior management, ensuring the deep integration of remuneration assessment with corporate strategic objectives and sustainability principles. In
accordance with the Remuneration Management Policy for Directors and Senior Management, the Company adheres to the principles of“distribution
according to work,” “alignment of authority and responsibility,” and the “combination of incentive and restraint.” These principles ensure that
remuneration levels are commensurate with corporate performance, individual fulfillment of duties, and prevailing market conditions, driving the
management to earnestly fulfill their environmental and social responsibilities while pursuing operational excellence.
Integration of Performance Review and ESG
The period under review runs annually from January 1 to December 31. Upon the conclusion of the review, the Remuneration and Evaluation
Committee determines the performance-based compensation pool based on the Company’s overall operational results. In the design of
performance review indicators, the Company has incorporated Environmental, Social, and Governance (ESG) factors into the senior management
accountability framework. Individual performance contracts for senior management members explicitly cover multiple dimensions, including
internal operations, customers, financial performance, and learning and growth. Notably, specialized performance indicators for HSE have been
established under the “Internal Operations” dimension, the results of which are directly linked to incentive compensation.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Annual Dividends During the reporting period Since its listing
The Company highly values shareholder returns. We implement profit distribution plans in strict accordance with the Company Law, the Articles of
Association, and relevant profit distribution policies and review procedures. Our dividend standards and ratios are clearly defined, supported by a The Company released a total of 280 The Company has maintained a
documents, including announcements, record of zero corrections to its
full suite of decision-making procedures and mechanisms. Our profit distribution plan is centered on maximizing shareholder interests, ensuring
investor relations record forms, and
annual reports.
that shareholders benefit from the Company’s growth. Simultaneously, the Company balances short-term returns with long-term development to intermediary reports.
ensure that while rewarding shareholders, sufficient funds are retained for future investment and operations.
Investor Relations Management
The Company has developed the Investor Relations Management Policy and the Work Rules for Handling Investor Complaints. We earnestly
implement regulatory requirements for investor protection and prioritize investor relations management. Investors can maintain effective
communication with the Company through diverse channels, including investor hotlines, timely email correspondence, the SZSE “Easy
Interaction” (irm.cninfo.com.cn) platform, and the Company’s portal website, to gain insights into the Company’s production, operations, and
investment development. The Company has designated media outlets qualified for securities market information disclosure and CNINFO (http://
www.cninfo.com.cn) as its official disclosure platforms, ensuring that all shareholders have equal access to information.
In 2025
The Company participated in 31 C o n d u cte d 4 8 re v e r s e Published five investor
broker strategy conferences roadshows relations activity
disclosure reports.
In 2025, the Company issued the Shareholder Return Plan for the Next Three Years (2025-2027), which specifies the proportions and conditions
for cash dividends over the next three years based on a thorough consideration of the Company’s development stage, profitability, and funding
requirements. This initiative further strengthens the protection mechanisms for minority investors and reflects the Company’s core philosophy of
rewarding shareholders and sharing development gains, providing an institutional guarantee for maximizing shareholder interests.
In the absence of any material investment plan or significant capital expenditure, the Company shall distribute dividends in cash. The cumulative
profits distributed in cash over the most recent three years shall be no less than 30% of the average distributable profits realized in those three years.
While implementing the above cash dividend distribution, the Company may also issue bonus shares.
When formulating a profit distribution plan, the Board of Directors shall determine the Company’s profit distribution policy after comprehensively
considering factors such as the characteristics of the industry in which the Company operates, its ranking within the industry, competitiveness,
profitability, the Company’s stage of development as assessed in light of these factors, and whether there are any significant capital expenditure
arrangements.
Information Disclosure
During the reporting period, the Board of Directors faithfully performed its information disclosure obligations by completing the information
disclosure related work truthfully, accurately, fully, and timely in strict accordance to the Company Law, the Securities Law, the Rules Governing the
Listing of Shares on the Shenzhen Stock Exchange, and the Self-Regulatory Guidelines No. 1 for Companies Listed on Shenzhen Stock Exchange –
Standardized Operation of Main Board Listed Companies, as well as other relevant laws, administrative regulations, departmental rules, normative
documents, and the Company’s Information Disclosure Management Policy and Work Rules for the Board Secretary. This ensures that investors
were promptly informed of material matters of the Company and that their interests were protected to the maximum extent.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Business Ethics Anti-Corruption Training and Cultural Education
At Great River Smart, integrity and compliance serve as the foundation for sustainable development, supported by a systematic framework for anti-
Business Ethics Governance corruption training and cultural education. Institutionally, the Company has established a dedicated team of Integrity Commissioners and consistently
updates position-specific Integrity Risk Inventories, ensuring a closed-loop management mechanism through the universal signing of integrity
commitment letters. In terms of training and education, the Company organizes specialized legal training and integrity lectures delivered by the Party
Anti-Commercial Bribery and Anti-Corruption Organizational Structure
Committee Secretary, utilizing typical cases to interpret disciplinary requirements and fortify employees’ psychological defenses against corruption.
Furthermore, by integrating integrity philosophy into team building through oath-taking ceremonies, commitment letter signings, and collaborative
The Company's integrity building and anti-corruption efforts are jointly coordinated by Great River Smart’ Discipline Inspection Committee and the
mapping of blueprints, the Company transforms integrity into a conscious collective action. This normalized and all-staff approach to integrity building
Audit Department, ensuring that the philosophy of integrity and compliance is deeply integrated into corporate governance and daily operations. As
at Great River Smart injects lasting momentum into the Company’s high-quality development.
a specialized body for promoting integrity, Great River Smart' Discipline Inspection Committee is responsible for developing the integrity guidelines,
establishing a sound institutional framework centered on anti-corruption and business ethics, working with the Audit Department to investigate and
handle violations of discipline and regulations, and reporting regularly to the Company on relevant work progress.
Institutional Building
The Company has put in place an all-comprehensiveal, multi-layered defense line for integrity and compliance, based on the Employee Handbook
and encompassing policies on integrity supervision, codes of conduct, whistleblowing management, and integrity agreement management. In 2025,
the Company continued to refine the Whistleblowing Management Measures and Employee Communication Management Rules, further optimizing
the handling procedures and management requirements for misconduct. Regarding employee management, the Company strictly enforces the Letter
of Commitment for Integrity in Professional Conduct, requiring all employees, particularly those in key positions, to sign this commitment. Integrity
Great River Smart Logistics Code of Conduct Code of Conduct
performance is integrated into performance review and serves as a critical basis for appointments and dismissals.
Oath-Taking Ceremony Oath-Taking Ceremony
Employee Integrity Management
The Company continuously strengthens integrity awareness among staff. New hires and personnel in high-risk positions are required to sign
the Letter of Commitment for Integrity in Professional Conduct, explicitly prohibiting bribery, embezzlement, or any other improper business
activities. In 2025, all the staff members of the Company signed the integrity commitment letter, and the Company continued with anti-
corruption training—both online and offline—covering directors, senior management, and frontline employees. Besides, the Company also
intensified integrity reviews for personnel up for awards or promotion to effectively prevent misconduct.
Integrity System Building
Great River Smart held an Integrity Work Meeting for comprehensive
attended a training session themed “ Building a Solid Line of Integrity to
The Company implements classified and tiered integrity management across all centers, departments, and subsidiaries. Led by the Discipline deployment of integrity risk prevention and control.
Safeguard the Enterprise's Future”.
Inspection Committee, the Company conducts ongoing integrity risk screenings and special inspections, focusing on key positions, critical
links, and high-risk areas. In 2025, all centers, departments, and subsidiaries were organized to develop Integrity Risk Prevention and Control
Tables and conduct routine self-inspections and rectifications. In conjunction with internal inspections and audits, a closed-loop rectification
mechanism was implemented to ensure all identified issues were fully and effectively addressed.
Supervision and Risk Control in Key Departments
The Company focuses on key areas such as bidding and procurement, engineering construction, and production safety. We continuously refine
specialized supervision mechanisms, optimize institutional workflows, and strengthen pre-emptive prevention and mid-process supervision.
By formulating annual supervision plans, conducting special inspections, and accepting on-site whistleblowing (with real-name and evidence-
based reports), the Company systematically advances an integrity management system where “one dares not, cannot, and has no desire to be
Chemical Warehousing & Integrated Logistics Segment held a seminar
Terminal & Tank Commercial Center successfully concluded a team
corrupt.” During the reporting period, the Company maintained a clean and upright business atmosphere, with no major corruption-related on integrity promotion and business
cultural event themed “Integrity and Unity for Win-Win Outcomes.”
whistleblowing incidents recorded. which was also its team-building event.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Whistleblower Protection Processing Timing
The Whistleblowing Management Policy explicitly mandates confidentiality protection: all employees with access to reported information must
maintain strict confidentiality regarding these disclosures. The heads of organizations bear primary responsibility for witness and whistleblower
For incident processing timing, the Discipline Inspection Committee mandates that all responsible units adhere to the
protection. They must implement appropriate safeguards to ensure these individuals’ fundamental rights remain protected and to prevent any
“Three Ones” timeline protocol, ensuring prompt acknowledgment and proactive case management.
form of retaliation against them. In 2025, there were no incidents of privacy breaches involving anonymous whistleblowers.
Valuing Reports and Complaints, Creating a Clean and Upright Atmosphere “Three Ones” timeline requirements
The Discipline Inspection Committee has implemented key policies including the Whistleblowing Reward and Punishment System and the Gift and
Cash Management Measures (Trial). These frameworks standardize procedures for handling reported violations, strengthen oversight mechanisms,
and help prevent misconduct. By protecting the legitimate interests of employees, customers, and business partners, these measures support the
Company’s sustainable growth and development. The Company has also implemented a comprehensive whistleblower protection system. When
the Discipline Inspection Committee receives documented, non-anonymous reports, it initiates formal investigations resulting in detailed findings.
Respond within one Confirm case filing within Complete investigation
Whistleblower confidentiality is maintained throughout this process. Depending on investigation outcomes, case severity (whether proactive or
working day: After receiving one week: After receiving a within one month: After
reactive misconduct), and financial implications, sanctions may range from employment termination to referral to legal authorities. A reward system
a report, respond to the report, confirm whether an co n f i r m i n g ca s e f i l i n g ,
recognizes whistleblowers and witnesses who contribute to these investigations. whistleblower within one complete the investigation
investigation needs to be
working day; initiated within one week; and respond with results
within one month.
Reporting Channels
The Company has established six types of reporting channels for different groups, including hotlines, email, and the official website.
Telephone：0769-22893898 Email：hcjw@grgroup.cc
Letter：Great River Smart Integrity and
Compliant Operations
Website：Great River Smart Logistics Party-
Discipline Office,GR Building, Songke Yuan 1,
building Platform Secretary's Mailbox:
Songshan Lake,
http://appgrgroup.cc:9098
Dongguan City 513830, Guangdong Province
Compliance Governance Framework
In-person：Office of the Secretary of the
Discipline Inspection Committee, GR Building, Others：Other forms deemed appropriate The Company has established a standardized compliance governance framework as a fundamental safeguard for lawful and compliant operations
Songke Yuan 1, Songshan Lake,Dongguan City, by the whistleblower
and sound development. The Company consistently elevates compliance management to a strategic level and strictly adheres to applicable laws
Guangdong Province
and regulations, industry standards, and regulatory requirements of the country. Taking into account its business layout and operating model,
the Company has developed a comprehensive compliance governance framework with clear hierarchy, as well as well-defined powers and
responsibilities.
Target Groups
Anti-Unfair Competition and Anti-Monopoly
All internal staff and external stakeholders
The Company conducts business activities in accordance with the principles of voluntariness, equality, fairness, and integrity. We strictly comply with
the Anti-Monopoly Law of the People’s Republic of China and the Anti-Unfair Competition Law of the People’s Republic of China, among other
relevant laws and regulations. We actively guide employees to uphold sound business conduct and safeguards fair competition within the industry.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Related-Party Transaction Management Risk Identification
The Company strictly complies with relevant laws, regulations, and normative documents, including the Company Law and the Rules Governing the Listing
of Shares on the Shenzhen Stock Exchange, as well as the provisions of the Articles of Association. It has formulated and continuously improved the Policy
on Decision-Making for Related-Party Transactions. Adhering to the principles of integrity, fairness, procedural compliance, and arm’s-length pricing, the
Company ensures that all related-party transactions are conducted in the best interests of the Company and all shareholders, with particular emphasis on
preventing the risk of improper benefit transfer and protecting the legitimate rights and interests of minority shareholders.
The Company has established a stringent hierarchical authorization and approval mechanism for related-party transactions. Material related-party
transactions are subject not only to review by the Independent Directors at dedicated meetings but also to approval at shareholders’ meetings. Risk Identification Risk Response Monitoring and
During deliberations at the meetings of the Board of Directors and the shareholders’ meetings, related directors and related shareholders are and Assessment and Control Reporting Mechanism
required to abstain from voting, ensuring the independence and fairness of the decision-making process.
The Company employs a For identified material risks, the The Company has established
In 2025, the Company’s material related-party transactions consisted exclusively of guarantees provided by related parties to the Company combination of qualitative and Company formulates specialized a routine risk monitoring and
and its subsidiaries without fees, demonstrating their commitment to the Company’s long-term strategic development. All material related- quantitative methods for risk response plans, defining reporting mechanism. Centers
identification. At the beginning of responsible parties, response and departments regularly update
party transactions underwent rigorous review and disclosure in accordance with regulatory requirements and company policies. Related parties
each year, the Risk Management strategies (avoidance, transfer, Risk Information Identification
consistently abstained from relevant voting procedures, ensuring that these transactions served the interests of the Company and all shareholders
Committee organizes all centers mitigation, or acceptance), and Ta b l e s , R i s k R e g i st e r s , a n d
without adversely affecting operational performance. and departments to conduct rectification deadlines. Routine Risk Control Matrices. The Risk
a co m p r e h e n s i v e r e v i e w o f operational risks are strictly Management Supervision Group
strategic, market, operational, constrained through internal conducts periodic inspections and
Tax Compliance financial, compliance, and control manuals, authorization evaluations, tracking rectification
emerging risks (such as climate guidelines, and Standard progress. The Risk Management
The Company consistently upholds the philosophy of law-based and standardized operations. We strictly abide by national tax laws and regulations change and data security). By Operating Procedures (SOPs). In Working Group regularly prepares
and have formulated the Tax Management Rules to ensure the timely and accurate filing and payment of all types of taxes. During the reporting establishing a risk database and key risk areas such as exchange material risk monitoring reports for
utilizing risk matrix tools, we rate fluctuations, supply chain the Risk Management Committee.
period, the Company paid a total of CNY 127.58 million in taxes and fees.
assess the likelihood and impact disruptions, and environmental Fu r t h e r m o r e , t h e C o m pa n y
of risks to scientifically categorize compliance, we set early- continuously refines emergency
them as“material,”
“important,” warning indicators for dynamic plans for material risks and
Risk Management
or “general” risks, providing a m o n i to r i n g to e n s u re ra p i d organizes regular drills to enhance
key basis for the Company's risk response to risk events if any. crisis response capabilities.
management.
Risk Management System
To improve the risk management governance structure and level of risk management, Great River Smart Risk Management Committee has been
Intellectual Property
established to assist the senior management in fulfilling their risk management duties, ensure that the Company systematically and effectively
identify, assess, respond to, and monitor all types of material risks, keep risks within a tolerable range, and guarantees the realization of strategic
goals. The Committee reports its work directly to the management. Intellectual Property Protection
The Company attaches great importance to intellectual property (IP) protection and strictly abides by relevant legal requirements. Integrated with our R&D
Risk Management Committee Risk Management Working Group
innovation and business operations, we have built a systematic, full-chain IP management system and formulated the Intellectual Property Management
The leading body for risk management work Responsible for specific risk management and Regulations. This system ensures effective control over the entire lifecycle of IP, from acquisition and maintenance to application and protection.
response to risk events The Company has set up a dedicated IP management team under the overall leadership of the HSE and Innovation Committee. The team is responsible for
building the IP management system, managing R&D projects, and handling IP management-related affairs.
Risk Management Supervision Group Centers/departments
As of the end of the reporting period, the Company has been granted 225 patents (including 32 invention patents)
Responsible for supervising and inspecting Actively participate in risk management work
and 51 software copyrights.
various risk management tasks
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Environmental Management
and Ecological Protection
Environmental Compliance Management 37
Pollutant Dischage 44
Waste Management 45
Water Resource Management 46
Circular Economy 47
Energy Management 49
Ecosystem and Biodiversity Protection 51
Climate Change Response 52
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Environmental Management and The Company continuously improves emergency response capabilities and safety awareness among personnel through various environmental
Ecological Protection
emergency drills. According to the 2024 annual environmental emergency drill plan, the Company and its subsidiaries conducted 53 environmental
emergency response drills. Additionally, joint emergency exercises on various themes were carried out in collaboration with local fire rescue teams,
port service companies, and other partners.
Environmental Compliance Management
Joint Emergency Drills Conducted at Storage Areas under Great River Smart
Environmental Management System
As a hazardous chemical storage company, Great River Smart has always considered safety and environmental protection to be vital to its corporate
development. The company proactively implements comprehensive safety and environmental protection measures to establish itself as an industry
benchmark in HSE (Health, Safety and Environment). To create an efficient and distinctive HSE management system, the company has developed a
three-tier management structure.
The Health, Safety and Environment and Innovation Committee serves as the specialized working
body established under the Board of Directors to be primarily responsible for establishing the
Company's medium and long-term HSE planning, as well as promoting, guiding, supervising, and
First Tier
evaluating related HSE initiatives.
The "Health, Safety, and Environment Management Office" has been established to be responsible
for the HSE work of Great River Smart and equipped with dedicated environmental management
Second Tier personnel.
Each functional center and terminal company has established dedicated HSE
management units with specialized environmental protection personnel.
Third Tier
Great River Smart Logistics has developed internal regulations in accordance with the Environmental Protection Law of the People's Republic
of China, the Water Pollution Prevention and Control Law of the People's Republic of China, the Air Pollution Prevention and Control Law of the
People's Republic of China, the Environmental Noise Pollution Prevention and Control Law of the People's Republic of China, the Environmental
Impact Assessment Law of the People's Republic of China, the Cleaner Production Promotion Law of the People's Republic of China, and the
Regulations on Environmental Protection Management for Construction Projects. These internal policies include the Great River Smart Logistics
Guidelines for Standardized Management of Solid Waste, the Great River Smart Logistics Wastewater Treatment Management System, the Great
River Smart Logistics Environmental Protection Monitoring Management System, the Great River Smart Logistics Energy Conservation and Emission
Reduction Management Measures, the Great River Smart Logistics Vapor Recovery Unit Management System, the Great River Smart Logistics
Emergency Environmental Management System, the Great River Smart Logistics Environmental Information Disclosure Management System,
the Great River Smart Environmental Protection Supervision and Inspection System, the Great River Smart Logistics VOCs Control Management
Regulations for Loading and Unloading, and the Great River Smart Logistics General Solid Waste Management Measures. During the reporting
period, the Company and its subsidiaries have strictly conducted environmental management activities in accordance with these environmental
management systems.
Management Measures for Environmental Risk Prevention
In 2025, the Company organized 13 subsidiaries to conduct 8 self-inspections against standard checklists including the Criteria for Determining
Environmental Risk Management Major Hidden Dangers in Ecological and Environmental Accidents, the Technical Specifications for the Setting of Monitoring Points at Pollutant
Discharge Outlets of Pollutant Discharging Units, the Regulations of Jiangsu Province on the Prevention and Control of Environmental Pollution
Environmental Risk Assessment Mechanism and System by Solid Wastes, the Great River Smart Hazardous Chemicals Major Hidden Danger Self-inspection Table, the Technical Guidelines for Emergency
Emission Reduction in Key Industries During Heavy Pollution Weather (2020 Revised Edition, Huan Ban Da Qi Han [2020] No. 340), and the Self-
Great River Smart has established a comprehensive environmental risk management system in accordance with the Environmental Protection Law
of the People's Republic of China, the Emergency Management Measures for Environmental Incidents, and the National Environmental Emergency inspection Table for Enterprise Environmental Information Disclosure Management Measures. More than 90 potential hazards were identified, with
Response Plan. The Company has implemented the Emergency Response and Management Procedure, the Accident Investigation and Handling 100% tracked and remediated according to plan. All terminal facilities maintained discharged pollutants within permissible emission limits, and all
Management Procedure, and the Great River Smart Logistics Emergency Environmental Management System to prevent and mitigate environmental wastewater treatment facilities operated effectively. Annual environmental monitoring indicators met required standards, and terminal companies
incidents, control and eliminate environmental hazards, and enhance overall capability to respond to and manage environmental emergencies. These
demonstrated increasingly proactive management of VOCs leakage points from storage tanks. Awareness of controlling VOC leakage points in
measures aim to safeguard enterprise operations, protect employee lives and property, minimize potential damage to the company and society from
environmental incidents, and promote comprehensive, coordinated, and sustainable development. storage tanks at the terminals is continuously strengthening, gradually shifting from passive to active management.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Cleaner Production and Green Manufacturing
The Company has established a comprehensive environmental management system and has continuously promoted environmental management
system certification, cleaner production initiatives, and green port construction across all business segments. At present, all subsidiaries in the
Company's tank storage segment have obtained ISO14001 environmental management system certification.
Subsidiaries of Great River Smart have conducted green port rating evaluations in accordance with the provisions of the Guidelines for Grade Evaluation of
Green Ports. Currently, 3 subsidiaries including Nantong Power Shell Petrochemical have passed the green port evaluation and certification.
Great River Smart Logistics has organized cleaner production certification applications in accordance with the Cleaner Production Promotion Law
of the People's Republic of China and the Cleaner Production Audit Methods. To date, 5 enterprises including Dongguan Evergrowing Terminal have
successfully passed the audit certification.
Environmental Management System Certification, Cleaner Production Audit, and Green Port Certification Companies
Changshu Great River Changshu Great smart Nantong Power Shell Petrochemical
ISO14001 Environmental Management System certification
Dongguan Evergrowing Terminal Dongguan Great River Petrochemical Terminal Dongguan Hongyuan Terminal
Changzhou Great River Nanjing Great River Nantong Great Smart
Fujian Gangfeng Energy Zhongshan GR Terminal Taicang Power Shell Petrochemical
Rizhao Great River Cangzhou Great River
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Cleaner Production Audit Green Port Rating Certification (3-star Level)
Dongguan Evergrowing Terminal Nantong Power Shell Petrochemical Changzhou Great River Nantong Power Shell Petrochemical
Nantong Great Smart Changshu Great River Nantong Great Smart
Dongguan Great River Petrochemical Terminal
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Environmental Protection Culture Promotion Pollutant Discharge
The Company has integrated energy conservation and environmental protection education into its regular activities. By organizing emergency drills
and conducting various environmental protection themed training activities, it has widely disseminated knowledge and successful experiences in Pollutant Emission Management
energy conservation and environmental protection, effectively enhancing the emergency response capabilities and environmental awareness of all
Great River Smart strictly adheres to the Water Pollution Prevention and Control Law of the People's Republic of China, the Urban Drainage and
employees. A total of 26 sessions were organized, targeting scenarios such as hazardous chemical leak containment, valve leak plugging training,
Sewage Treatment Regulations, the Integrated Wastewater Discharge Standard, the Comprehensive Emission Standard for Air Pollutants, the
environmental protection skill improvement, oil environmental protection equipment training, and office energy conservation and consumption
Emission Standard for Air Pollutants from Oil Storage Depots, the Control Standard for Fugitive Emission of Volatile Organic Compounds, and other
reduction, with a total of 857 participants.
relevant regulations. The Company has established internal policies such as the Great River Smarter Logistics Wastewater Treatment Management
System, the Great River Smart Logistics VOCs Control Work System, the Great River Smart Logistics Environmental Protection Monitoring
Management System, the Great River Smart Logistics Vapor Recovery Unit Management System, and the Great River Smart Logistics VOCs Control
Management Regulations for Loading and Unloading to standardize pollutant management.
Pollutant Treatment Measures
The Company operates 11 wastewater treatment systems and 2 vessel cleaning stations for ship-generated pollutants. The wastewater treatment
system collects and processes both industrial and domestic wastewater to meet standards before discharge to the municipal sewage plant. The
vessel cleaning stations handle the reception and disposal of chemical tank washing water and oily wastewater from inland vessels. Great River
Smart Logistics treats production wastewater and domestic sewage from its facilities to meet the required standards through its wastewater
treatment systems. Meanwhile, the company continuously optimizes wastewater treatment processes to reduce wastewater generation, explores
process improvements to boost the operational efficiency and effluent quality of sewage treatment stations, and achieves reclaimed water reuse,
thereby reducing the total discharge of pollutants while saving tap water consumption.
Total treated effluent discharge (2025) Reclaimed water reuse
Compared with 2024 Compared with 2024
Cangzhou Great River conducted an activity themed Rizhao Great River conducted an activity themed
“GR Charity Day” “GR Charity Day”
↓ 17.77% ↓ 3.55%
The Company actively advances the upgrading of VOC source reduction technologies and has established a full-process VOCs refined control system:
In terms of exhaust gas management, it strictly carries out LDAR (Leak Detection and Repair) programs on schedule. It also continuously explores
new vapor recovery and exhaust gas treatment technology pathways to achieve VOC emission reduction targets through technological iteration and
support green and low-carbon development based on annual oil product turnover, tank structural characteristics, loading and unloading processes,
and the current status of exhaust gas collection and treatment. In 2025, the Company continued its LDAR and environmental emission reduction
efforts, reducing VOC emissions by 507.241 tons throughout the year. In exhaust gas treatment, the Company actively explores new technologies
to collect and treat exhaust gases from storage tanks, loading operations, and vessel loading. The treatment processes combine a variety of
technologies such as "condensation + adsorption", "biodegradation", and "RTO", achieving 100% compliance in the treatment of organized
emissions.
Based on the principle of "source noise reduction and dynamic control," Great River Smart has systematically constructed a noise pollution
prevention and control system to minimize the impact of operations on the surrounding environment.
In 2025, a total of 40 noise monitoring with 100% of monitoring results
Training Session: Closing a Valve, Plugging a Leak Point
sessions were conducted meeting the required standards.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Waste Management Water Resource Management
Waste-Related Governance Water Resource-Related Governance
Great River Smart strictly adheres to the Law of the People's Republic of China on the Prevention and Control of Environmental Pollution by Solid Great River Smart strictly adheres to the Water Pollution Prevention and Control Law of the People's Republic of China, the Urban Drainage and
Wastes, the Storage and Landfill Pollution Control Standard for General Industrial Solid Waste, the Hazardous Waste Storage Pollution Control Sewage Treatment Regulations, the Integrated Wastewater Discharge Standard, and other relevant regulations. The Company has established an
Standard, and other relevant regulations. The Company has established internal policies such as the Great River Smart Logistics Guidelines for
energy consumption working team to manage water, electricity, nitrogen, and other energy sources, and has established internal policies such as
Standardized Management of Solid Waste and the Great River Smart General Solid Waste Management Measures to implement differentiated
the "Great River Smart Wastewater Treatment Management System" to standardize wastewater treatment management, ensuring that wastewater
management of general industrial solid waste and hazardous waste. In accordance with relevant regulations, the company has constructed
treatment work is systematically and routinely managed.
"Hazardous Waste Storage Warehouses". Through inventory analysis, the company identifies major sources of solid waste and optimizes related
processes to reduce waste generation.
Waste-Related Strategy and Measures Water Resource-Related Strategy
The Company adheres to a waste lifecycle management strategy featuring source reduction, process control, compliant disposal, and continuous
As a petrochemical storage enterprise, Great River Smart adheres to a water resource management strategy featuring "compliant water access,
carbon reduction. It strictly complies with the Law of the People's Republic of China on the Prevention and Control of Environmental Pollution by
efficient utilization, risk prevention and control, and continuous water conservation". It strictly adheres to the Water Law of the People's Republic
Solid Wastes, the Measures on Administration of Hazardous Wastes Business License, and other laws and regulations. Waste management is fully
of China and the Water Pollution Prevention and Control Law of the People's Republic of China, as well as other regulations, and systematically
integrated into the entire production and operation process, with compliance control as the bottom line, source reduction as the core, and risk
prevention and control as the focus, to systematically reduce the environmental impact of waste, improve resource utilization efficiency, and support identifies and responds to water resource-related risks and opportunities, thereby ensuring operational stability and sustainable development. The
the Company's green, low-carbon, and sustainable development. production and domestic water of the Company is accessed from the municipal water supply system. Water-related procedures are completed in
The waste generated from the Company's operations is primarily hazardous waste. The Company has identified core risks such as compliance supervision, accordance with regulations, and standardized water usage management is implemented. In the operational process, water resources are mainly
disposal cost fluctuations, and environmental safety, as well as development opportunities including cost reduction at the source and enhanced green used for production processes and auxiliary facilities. All industrial wastewater from storage facilities is treated to meet standards by on-site pre-
competitiveness. These matters directly impact the Company's operating costs, capital expenditures, and long-term operational stability. treatment facilities before being discharged to the local municipal pipe network, where it is further treated by centralized municipal wastewater
The Company does not engage in waste recycling operations. All hazardous waste is entrusted to legally qualified third parties for compliant treatment plants before being released into the natural environment.
disposal. Through specialized training and process optimization, the Company reduces waste generation at the source, establishes a full-process
inventory management mechanism, continuously improves waste management levels, and ensures green and compliant operations.
Waste Treatment Indicators and Targets Water Resource Management Indicators and Targets
Standardized solid waste management requirements, particularly for hazardous waste management, primarily include the implementation of Great River Smart collectively treats production wastewater and domestic sewage from its facilities through its wastewater treatment systems, while
management systems including hazardous waste identification signage, hazardous waste declaration registration, transfer manifests, and operating continuously optimizing the treatment processes to reduce wastewater generation at the source. It also actively explores more efficient wastewater
permits. To ensure standardized management of solid waste throughout the lifecycle at all terminal facilities, an 8% reduction target has been set treatment technologies, improves treatment plant operational efficiency, enhances effluent quality, and implements water recycling. These
at the group level. Bases/subsidiaries break down this overall target, strictly implement the eight solid waste management systems, manage the
initiatives have reduced the total discharge of pollutants while effectively conserving freshwater resources.
sources of hazardous waste, and reduce hazardous waste generation at the source. The Company has established a full-process hazardous waste
record, implemented anti-leakage, anti-loss and other protective measures for storage facilities, formulated environmental emergency response
plans, and conducted regular drills. In 2025, the total water consumption of the Company was 456,922 tons, while 20,979 tons were recycled as reclaimed.
In 2025, 223,515 tons of hazardous waste were transferred to qualified hazardous waste reception units in accordance with relevant
regulations, representing a
Water Resource Management Measures
To mitigate physical risks to water resources, the Company has installed groundwater monitoring wells. From pre-implementation through the
entire operational lifecycle of the project, we conduct annual groundwater quality testing across the storage facility area, enabling early warning
systems and ensuring water resource security. To address potential impacts of water resource risks on daily operations, Great River Smart Logistics
adheres to the principles of efficient water utilization and circular management. In 2025, the Company introduced the storage tank high-pressure
cleaning technology, took spray control measures for high-temperature weather, conducted assessments and optimizations of domestic water
usage scenarios, and continuously located and repaired 8 underground water pipeline leakage points, saving approximately 3,500 tons of water
and effectively reducing operational water resource losses. The Company will continue to optimize its water management system by upgrading
monitoring technology and implementing water-saving process modifications to strengthen dynamic control of water supply systems, ensuring
rational allocation and recycling of water resources in storage facility maintenance and other operational scenarios.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Circular Economy Circular Economy Indicators and Targets
The Company's core overall circular economy goal is "efficient resource cycling, reduction and emission control at the source, and compliant closed-
Circular Economy-Related Governance loop control". Closely aligned with petrochemical storage operational scenarios, the Company has established specific quantitative indicators and
implementation targets around two core directions: recovery of exhaust gas as resources and full-process solid waste management, to continuously
In resource recycling management, the Company follows the core principles of "green low-carbon, closed-loop throughout the value chain, and improve the effectiveness of circular economy management, specifically as follows:
controllable risk" while adhering to regulations such as the Energy Conservation Design Standards for Petroleum Depots and the Hazardous
Waste Storage Pollution Control Standards. Through technological innovation and process optimization, the Company achieves efficient resource
utilization and reduces its environmental footprint. In terms of system development, the Company has formulated and continuously improved
specialized systems such as the Energy Conservation and Consumption Reduction Management System, the Solid Waste Management Measures,
and the Water Resource Conservation and Recycling Management Regulations. These systems clarify the division of responsibilities, work processes, Core Targets：To maximize the recycling and utilization of volatile vapor and chemical waste gas from storage operations through special
target requirements, and assessment mechanisms for circular economy management, and extend management requirements across the entire optimization and routine operation and maintenance of the vapor recovery system, and to reduce air pollutant emissions while improving resource
production and operation process. recycling and utilization efficiency and achieving a win-win for environmental and economic benefits.
Control Indicators：100% integrity rate and stable operation rate of vapor recycling units; at least 180 tons of annual vapor and recyclable chemicals
Circular Economy-Related Measures recycled; full coverage of all terminals by special rectification and O&M management of vapor recycling.
Implementation Results：In 2025, the Company established a special innovation working team for vapor recycling rectification, which routinely
Closely aligned with the operational characteristics of the petrochemical storage industry and centering on the core circular economy concept carried out maintenance of vapor recycling units, inspected and cleaned liquid accumulation in pipelines, and ensured efficient operation of the
of "resource utilization, reduction, and harmless treatment", the Company implements the following special measures with a focus on the entire units throughout lifecycle. Throughout the year, a total of over 230 tons of oil products, methanol, and other chemicals were recycled and returned
storage operation process. These measures fall into three main categories:
to customers, achieving a resource utilization value of approximately CNY 1.50 million and exceeding the annual recycling targets while harvesting
the dual benefits of VOC emission reduction and recycling as resources.
Core Targets：To achieve a 100% harmless and compliant disposal rate for solid waste, strictly control the environmental risks of solid waste,
and enhance solid waste recycling and standardized management levels through standardized upgrades of storage facilities and closed-loop
management of the disposal chain, centered on solid waste reduction at the source, standardized process control, and full-process traceability.
Control Indicators：100% compliant disposal rate for hazardous waste and general industrial solid waste; 100% standardized construction coverage
rate for hazardous waste storage facilities; 100% full-process traceability rate for solid waste generation - transfer - disposal.
Implementation Results ：In 2025, the Company completed the standardized upgrades to hazardous waste management facilities to achieve unified
separate collection, compliant storage, and centralized disposal of solid waste such as waste oil and domestic garbage generated during daily
operations. Through unannounced vehicle-tracking visits to solid waste disposal units, the Company achieved closed-loop control of the entire solid
waste chain. The compliant solid waste disposal rate for the year was 100%, fully achieving the annual control target.
Raw Materials and Packaging Materials
From the construction to the decommissioning phases of storage facilities, the Company assesses resource consumption and environmental impact,
prioritizing recyclable building materials and low-emission sealing materials while extending equipment service life to reduce lifecycle resource
waste. Great River Smart consistently adheres to the core 3R circular economy concepts of "Reduce, Reuse, Recycle" and actively advances drum
recycling initiatives.
In 2025, the Company achieved 719,763 entries of recycled drums (based on the 200L steel drum measurement standard).
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Energy Management Energy Management Measures
Energy-Related Governance
“The 2026 Great River Smart Energy Consumption Cost Control Measures” proposes 6 core common measures, covering six dimensions:
procurement, equipment, management, technology, monitoring, and business collaboration, specifically as follows:
Great River Smart consistently adheres to the core energy management concepts of "energy conservation and carbon reduction, green development,
compliance leadership, and joint governance by all staff". It fully integrates energy management into the Company's ESG governance and entire 1.Unify procurement negotiation to reduce the unit price of basic energy consumption
production and operation process, and strictly adheres to the Law of the People's Republic of China on Energy Conservation and other laws and
regulations. It has built an energy management system featuring clear responsibilities and closed-loop control. It systematically promotes efficient Consolidate the procurement needs for basic energy consumption such as nitrogen, industrial water, and electricity across the Group.
energy utilization and low-carbon transition to support the achievement of the Company's carbon peaking and carbon neutrality goals. The Conduct collective negotiations under the leadership of the headquarters rather than independent procurement model of each base. Sign
Company has established a comprehensive, all-dimensional energy management system and formulated the Great River Smart Energy Conservation long-term framework agreements with suppliers to reduce the unit price of core energy consumption, while agreeing on "volume-based
and Emission Reduction Management Measures to clarify energy management responsibilities, energy consumption control requirements, tiered discount" clauses.
assessment mechanisms, and work processes, institutionalizing and standardizing energy management requirements to achieve closed-loop
control throughout the energy lifecycle.
The Company has established a top-down energy governance system that is strictly enforced at every level:
Upgrade old motors, pumps, and handling machinery that have outlived their service life on a "base-by-base and quarter-by-quarter" basis
according to actual conditions. Prioritize the replacement of old, outdated, and ineffective equipment with excessive energy consumption.
Board of Directors Operations Center Energy Consumption Frontline Execution Entities
Assessment Team
Responsible for approving the Coordinating all energy Established to be responsible Each terminal and subsidiary 3. Strengthen non-production energy consumption control to reduce energy waste
Company's energy strategies, management processes, for daily management tasks strictly implement energ y
responsible for identifying energy such as the development of management requirements,
annual energy-saving targets, Standardize the management of domestic electricity and water use. Install smart electricity meters and water meters in offices and
risks and opportunities, breaking energy management systems, is responsible for their own
and major energy investment dormitories of each base that are equipped with a setting of "quota warning" mechanism. Costs for consumption exceeding the quota are
energy consumption control,
down energy targets, controlling energy consumption statistics
matters, and supervising the implementation of energy-saving calculated based on tiered rates. Promote energy-saving lighting with cool light source and water-saving fixtures. Turn off non-essential 24-
annual budgets, promoting and monitoring, promotion of
i m p l e m e n ta t i o n o f e n e r g y technological improvements, hour operating equipment (e.g., redundant air conditioners and backup lighting).
special initiatives, linking energy energy-saving technological
management strategies and a n d d a i l y o p e ra t i o n a n d
p e r f o r m a n ce i n d i c a t o r s t o improvement, energy maintenance management, and
achievement of performance as
executive remuneration, and consumption assessment, as ensures energy management
the highest decision-making body regularly reporting progress to the well as training and publicity requirements are implemented
for energy management. 4. Optimize processes and recycling technologies to reduce energy consumption and waste
Board of Directors. under the daily leadership of the throughout the entire operation
HSE Management Office. process.
Optimize loading/unloading operation processes at bases with nitrogen requirements, reduce equipment idle time through "centralized
scheduling and off-peak operations", and simultaneously adjust the insulation measures for storage tanks to reduce heating/cooling energy
consumption.
Energy-Related Strategy
The Company's core energy strategy is "consumption control at the source, technology-driven efficiency improvement, structure optimization, and
energy conservation by all staff". Focusing on petrochemical storage operational scenarios, it promotes energy management in four main directions: 5. Establish an energy consumption monitoring and early warning system for dynamic control
Build a group-level energy consumption data monitoring platform to collect production electricity, water, and nitrogen usage data from
Compliance Leadership and Bottom-line Control:
each base, and automatically generate "energy consumption trend charts" and "comparison tables of consumption per unit". Set early
Strictly adhere to national laws, regulations, and supervisory requirements on energy conservation, ensure full-process
warning thresholds for key indicators (e.g., electricity consumption per unit exceeding 1.5kWh/ton). When a warning is triggered, designated
compliance in energy management, and eliminate energy waste and non-compliant energy use.
personnel will investigate the cause to ensure timely rectification of abnormal energy consumption.
Reduction at the Source and Efficiency Improvement:
Comprehensively reduce energy consumption and improve energy utilization efficiency by optimizing storage operation processes,
improving energy efficiency of equipment, and promoting office energy conservation, with energy consumption assessment as a tool.
Structure Optimization and Low-carbon Transition:
Gradually optimize the energy consumption structure, promote the substitution of clean energy, advance energy-saving technological
improvement projects, and support the achievement of the Company's carbon reduction targets. Include energy consumption indicators (e.g., electricity consumption per unit throughput and total energy costs) in the performance assessment of
the persons in charge of the bases. Those meeting the targets receive performance rewards, while those failing must rectify within a specified period.
Full Participation and Cultural Empowerment: Conduct "energy conservation and consumption reduction training" on a regular basis, encourage employees to propose energy-saving suggestions
Integrate the green development concept into daily operations, conduct energy-saving publicity and training, advocate low-carbon office (e.g., optimizing operating processes and offering equipment maintenance techniques), and provide cash rewards for effective suggestions adopted
practices and green commuting, create a corporate culture of energy conservation by all staff, and build a resource-conserving enterprise. to stimulate the enthusiasm for energy conservation among all staff.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Ecosystem and Biodiversity Protection Climate Change Response
As an enterprise in the petrochemical storage industry, Great River Smart Logistics consistently regards ecological environmental protection as
the core bottom line of its corporate sustainable development. It adheres to the Law of the People's Republic of China on Environmental Impact Climate Governance Structure
Assessment, the Law of the People's Republic of China on Wildlife Protection, the Regulation of the People's Republic of China on Wild Plants
Protection, and the General Office of the State Council's Opinions on Further Strengthening Biodiversity Protection and other relevant laws,
regulations, and policies. The Company has established a core ecological environmental protection strategy featuring "ecological priority, green Great River Smart actively responds to the 1.5° C temperature rise target proposed in the Paris Agreement and the Action Plan for Carbon Peaking
development, compliance leadership, closed-loop risk management, and joint governance by all staff". It fully integrates ecological environmental Before 2030 issued by the State Council. The Company complies with IFRS Sustainability Disclosure Standard S2– Climate-related Disclosures, as
governance into the Company's overall development strategy and entire production and operation process, strictly complies with relevant laws well as the regulatory guidelines and compilation standards for sustainable development reports of Shenzhen Stock Exchange. Based on its ESG
and regulations on ecological environmental protection, systematically builds an all-level, whole-process, total-element ecological environmental
governance structure and internal systems, the Company has integrated climate change governance.
governance system, strictly adheres to the ecological protection red lines, strictly controls ecological environmental risks, continuously improves
The Company has established a top-down climate governance system with the Board of Directors as the highest decision-making body. The Board of
environmental governance capabilities, and supports the Company's green, low-carbon, and high-quality development.
Directors is responsible for approving climate-related development strategies. The HSE and Innovation Committee under the Board is responsible for
coordinating the identification, analysis, and full-process management of climate risks and opportunities, managing the annual budget for climate
The Company has set clear core ecological protection targets:
affairs, formulating and monitoring the implementation of climate-related targets, coordinating resources to advance special initiatives, promoting
the linking of executive remuneration to climate change indicators, and regularly reporting climate risk management and strategy implementation
Compliance Bottom-Line Target: Strictly comply with laws and regulations on ecological protection and pollution prevention, progress to the Board of Directors.
ensure ecological compliance throughout the entire production and operation process, achieve zero ecological environment
violations and zero negative biodiversity impact incidents for the year.
Level Institution Functions
Ecological Protection Action Target: Actively participate in public welfare actions for regional ecological restoration and biodiversity
protection, and contribute to regional ecosystem stability and biodiversity enhancement; continuously deepen the ecological protection
awareness of all staff, and fully integrate ecological protection requirements into the entire production and operation process.
Decision-making Level Board of Directors Responsible for approving climate-related development strategies.
In 2025, the Company strictly implemented all requirements for ecological environmental protection, without any violations involving damage to
the ecological environment or impact on biodiversity throughout the year. The entire production and operation process complied with ecological
protection regulatory requirements. Coordinating the identification, analysis, and full-process
management of climate risks and opportunities, managing the
Case Study
HSE & Innovation annual budget for climate affairs, formulating and monitoring the
In terms of biodiversity protection practice, on June 10, 2025, the Company actively responded to the call for biodiversity protection by Committee of Board of implementation of climate-related targets, coordinating resources
Management Level
investing CNY 494,800 to deeply participate in the Dongguan City 2025 Fishery Work Safety Publicity and Education & Marine Aquatic Directors and HSE to advance special initiatives, promoting the linking of executive
Biological Resource Enhancement Release. This event was jointly organized by the Department of Agriculture and Rural Affairs of Management Office remuneration to climate change indicators, and regularly reporting
Dongguan, the Municipal Marine Comprehensive Law Enforcement Team, and the Agricultural, Forestry, and Water Affairs Bureaus of climate risk management and strategy implementation progress to
riverside towns. Focusing on the theme "Biodiversity, Engaging You and Me," the Company took practical measures to help maintain the Board of Directors.
regional aquatic ecological balance, improve aquatic community structures, promote the sustainable development of marine aquatic
biological resources, effectively fulfill the corporate social responsibility for ecological protection, and boost harmony between humans Composed of full-time/part-time employees responsible for ESG and
and nature. Headquarters Functional climate-related work from various centers and terminal subsidiaries;
Executive Level Departments and Business responsible for advancing the company's ESG and climate work;
Departments regularly submitting ESG and climate work performance reports;
ensuring smooth communication channels with stakeholders.
To strengthen safety management and emergency prevention for sudden weather events such as typhoons, heavy rain, fog, cold waves, and high
temperatures, and to ensure scientific, powerful, orderly, and effective meteorological disaster emergency response, protect company storage facilities
and personnel safety, and minimize casualties and property losses caused by meteorological disasters, the Company has established the Great River Smart
Logistics Sudden Weather Disaster Emergency Work Guidelines in accordance with the Emergency Response Law of the People's Republic of China, the
Meteorological Law of the People's Republic of China, the Meteorological Disaster Prevention Regulations, and related requirements.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Emergency Leadership Group for Sudden Weather Disasters
Climate-Related Risks and Opportunities
The Company has established an Emergency Leadership Group for Sudden Weather Disasters (hereinafter referred to as “Leadership Group”), with
the Company President or a person designated by the Company President serving as the commander-in-chief, to provide unified leadership and Great River Smart Logistics places high importance on the impact of climate change on the Company. This year, the Company has disclosed
information according to the Task Force on Climate-Related Financial Disclosure (Disclosures) initiative, systematically identifying, evaluating, and
command for prevention and emergency response to sudden weather disasters. The HSE Department serves as the emergency office responsible for
managing climate risks faced by the company, laying the foundation for further deepening climate management work in the future.
comprehensive coordination of emergency response. Other departments establish emergency teams according to their responsibilities to organize Great River Smart screened and identified climate-related risks faced by the enterprise based on its business model, value chain, industry
emergency response work. characteristics, and stakeholder communication results. It also analyzed the current and expected financial impacts of each risk and their impact
period. The time frames of the expected impact are divided into short-term (approximately 1 year), interim (approximately 5 years), and long-term
Sources, Collection and Distribution of Meteorological Forecast Information (up to 2050), corresponding respectively to the Company's short-term development goals for the next year, five-year interim development plan, and
long-term development plan up to the middle of this century.
Financial Time
Sources of Meteorological Forecast Information Climate-related Risks Risk Description Response Measures Materiality
Impact Frame
·Information released by local meteorological stations through radio, television, and websites; The increasingly improved
·Industry and regional authorities to which the company belongs; port authority (port and shipping center), maritime bureau releasing domestic enterprise sustainability
information disclosure Increased
information via telephone and fax; ESG
system poses higher ESG- costs,
The company regularly discloses environmental
related information disclosure increased
Reporting information as required by laws and regulations, and Interim High
·Central Meteorological Observatory typhoon website, Hong Kong Observatory website. Obligations
requirements for Great River
S m a r t L o g i st i c s . Fa i l u r e t o
non-
operating
develops and publishes independent ESG reports.
Among the above information, government authorities' information serves as the basic reference for preventive work, while other information disclose relevant information in expenses
a timely manner may result in
serves as supplementary analysis reference. compliance risks.
The Company continues to pay attention to dual carbon
policy work to improve energy utilization efficiency and
The Company's main business optimize energy structure, promoting a comprehensive
belongs to the petrochemical green transformation of economic and social development.
industry, which is a key industry The Company continuously monitors dual carbon policy
under dual carbon policy control. developments to improve energy efficiency and optimize
Increased
Carbon Under the "dual carbon" goals, energy structure, promoting comprehensive green
costs,
Reduction the company may be subject transformation of economic and social development.
increased
Requirements to stricter carbon reduction The Company will continue to increase investment in and Interim High
non-
Collection and Distribution of Meteorological Information: and requirements and supervision,
operating
implementation of emission reduction measures, monitor
Regulation potentially resulting in legal carbon market developments, strengthen cooperation
expenses
·Starting from notification by the HSE Department, the control room is liabilities, regulatory measures, with governments, industry associations, research
a n d p ro p e r t y l o s s e s d u e to institutions, etc., to jointly explore emission reduction
responsible for tracking and recording meteorological information once Policyand non-compliance with relevant pathways and technological innovation, and strengthen
LegalRisks regulations. external environment monitoring and assessment to
per hour. When government authorities initiate a Level IV response, this adjust emission reduction strategies in a timely manner in
response to policy changes.
must be reported to all department managers and company leaders,
As a key pollutant discharging
with additional reports each time the response level changes, until the
entity published by environmental In response to strengthened environmental regulations
protection departments, with and implementation, the Company adjusts production
warning signal is lifted. Environmental increasingly stringent environmental Increased methods and technical equipment, enhances
Interim High
· The HSE Director (Manager) and Business Department Manager Transition
Standards standards, the Company needs to
invest more funds and technology
costs understanding of regulations, and establishes a sound
compliance system to ensure that the company's
risk to meet these requirements, thereby operations comply with legal requirements.
(Shipping) maintain dynamic communication with government
increasing operating costs.
authorities.
The company has established a Science and Technology
Innovation Office, actively conducting research and
development work related to environmental protection
The successive introduction
and emission reduction processes, environmental
o f g l o ba l ca r b o n e m i s s i o n
management monitoring systems, and other green
Carbon rights supporting control and Increased
technologies. The company will conduct thorough Interim High
Market adjustment mechanisms may costs
market research and technology assessment before
lead to increased business
investing in energy-saving and environmental protection
operations and financial costs.
Principles for Optimizing Emergency Response to Sudden Weather Disasters technology R&D to ensure investment feasibility and return
rate, promoting the transition to green production and
operation modes.
·The emergency response work should adhere to the principle of "better safe than sorry," preparing for the worst-case scenario and making the
most thorough preparations. Dual carbon policies require
enterprises to undergo low-carbon
·Adhere to the "people-oriented" principle, putting human safety first. First, "evacuate when appropriate"; second, do not act blindly when carrying transition, necessitating cost
Low investment in research, development, The company has established a Science
out emergency rescue work, with ensuring personnel safety as a prerequisite. Carbon and deployment of energy-saving Increased and Technology Innovation Office, actively
Transition and environmental protection costs conducting research and development work
·Put prevention first. Risks technologies, generating additional related to environmental protection and
costs during the process, while emission reduction processes, environmental
·Keep abreast of sudden weather dynamics and early warning information in real time, and pay close attention. Besides real-time communication facing risks of technology R&D and management monitoring systems, and other
Technology deployment failure. Long-
green technologies. The company will conduct Medium
Risks term
with local government departments, also observe, track, and assess risks through platforms such as the China Meteorological Administration thorough market research and technology
If enterprises fail to identify and apply assessment before investing in energy-saving
website and the Hong Kong Observatory. energy-saving and environmental and environmental protection technology R&D
protection technologies in a timely to ensure investment feasibility and return rate,
·Ensure comprehensive and ample preparation of emergency supplies, such as sandbags, raincoats, leak plugging equipment, drainage pumps, and Low Carbon
manner during the low-carbon Decreased promoting the transition to green production
Transition and operation modes.
transition process, it will lead to revenue
instant food, and form a detailed material list including specifications and quantities. Risks
service levels lagging behind industry
peers in low-carbon transition,
resulting in customer loss.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Climate-related Risks Risk Description
Financial
Impact
Response Measures
Time
Frame
Materiality Carbon Emission Accounting and Management
Carbon emission control measures The Company addresses market risks brought Great River Smart Logistics systematically promotes low-carbon transformation with "professional carbon management" as its core. In 2025,
and policies in the international by rising energy costs through optimizing energy
Energy Price
Fluctuations
community affect fossil fuel costs, Increased costs structure, implementing energy consumption Interim Medium by continuously carrying out the special training on Enterprise Carbon Accounting and Low-Carbon Development Practices, the Company
potentially leading to increased management, and establishing environmental
company costs. management systems. has completed cross-terminal talent team building, enabling employees to master carbon emission boundary definition, monitoring system
construction, and data traceability management capabilities. This ensures the completeness and accuracy of Scope 1 (direct emissions) and Scope 2
Market If customers served by the
Risks company also set carbon reduction (indirect emissions from purchased energy) accounting, strengthening the foundation of carbon emission data governance.
Customer targets, they will prefer enterprises The Company actively participates in environmental
Preference for providing low-carbon logistics
Decreased protection activities and promotes green supply chain
Based on capacity building achievements and in accordance with ISO14064-1:2018 and the Greenhouse Gas Protocol (GHGP), the Company has
services to help achieve their Interim Medium
Low-Carbon revenue construction to actively respond to market risks that may initiated a company-wide carbon inventory plan for 2025:
carbon goals. If the enterprise
Services cannot provide green services arise from changing customer demands.
Transition meeting customer needs, it may
risk lead to customer loss.
Customers, investors, and The Company has always aimed to create an industry Boundary Verification Stage:
benchmark enterprise. In addressing climate and
other stakeholders increasingly
environmental impacts faced during production and Each terminal defines organizational operational boundaries, clarifies emission source attribution to Scope 1/2, and ensures
emphasize environment-related operation, the Company insists on strengthening
information disclosure. When such environmental management and supervision, improving accounting framework compliance;
Reputation ESG Negative disclosed information falls below Decreased energy efficiency and reducing emissions, implementing
Short-term High
Risks Events stakeholder expectations, it may revenue green supply chain management, establishing
environmental information disclosure mechanisms,
Data Traceability Stage:
adversely affect the Company's
corporate image and reputation, regularly publishing social responsibility reports, Identifies key emission sources and greenhouse gas types, collects original activity data such as energy consumption and electricity/heat
establishing emergency plans, and obtaining third-
reducing capital market recognition
party certifications to maintain company reputation and purchases, and matches with authoritative emission factor databases;
of the Company. enhance stakeholders' investment willingness.
Quantitative Analysis Stage:
The company's headquarters The Company has established internal systems such Uses standardized tools to complete energy consumption conversion calculations, generates carbon emission inventories by terminal
is located in Dongguan City, as the "Guidelines for Emergency Work in Sudden
Guangdong Province, and all Weather Disasters" and formed an emergency leadership and summarizes group totals, constructing dynamic emission baselines;
storage terminal projects for group for sudden weather disasters to strengthen
safety management, prevention, and emergency
petroleum, liquid, and gaseous
chemical products are located
response for sudden weather events. This ensures Completed carbon emission datasets for 2024 and 2025 and formed the "Great River Smart Logistics Carbon Emissions Summary Table"
scientific, forceful, orderly, and effective emergency
Extreme in the southeastern coastal area,
Increasedcapital response to meteorological disasters, safeguarding to support carbon performance benchmarking and emission reduction pathway optimization;
Weather Such susceptible to typhoons, extreme company equipment, facilities, and personnel safety,
Short-term expenditure, Short-
as Typhoons, precipitation, and floods. On one and minimizing casualties and property losses caused High
Risks increasedcosts, term
Rainstorms, hand, this leads to damage to by meteorological disasters. The Company adheres to
decreasedrevenue the principle of "people-oriented," ensuring "evacuation Compiled the Great River Smart Logistics Carbon Emission Analysis Report to provide decision-making basis for setting scientific carbon
and Floods terminals, office buildings, and
equipment, causing asset losses; when necessary" and prioritizing personnel safety targets, disclosing TCFD climate information, and responding to "dual carbon" policies, demonstrating environmental responsibility and
during emergency rescue operations. The Company
on the other hand, it endangers
has developed emergency management procedures transparent governance commitments.
employee safety, obstructs for extreme weather, implementing hierarchical risk
transportation, and affects control, with the emergency leadership group taking
normal company operations and corresponding response measures according to
production. management procedures based on different risk levels.
The Company shortens continuous operation time based
on work conditions; requires incoming vehicles to be water-
cooled before operation; requires vessel decks at terminal
operations to be water-sprayed for cooling before operation,
and vessels unable to leave berths after stopping operations
The Company's headquarters
must continue water spray cooling measures; during high-
and some storage terminals
Physical temperature weather, continuously monitors material
are located in subtropical
Risks temperature in storage tanks, taking cooling measures when
regions. Under long-term
necessary; strengthens temperature monitoring of special
climate pattern changes with
chemical material storage tanks, pipelines, and warehouses
rising average temperatures,
to prevent material deterioration due to high temperatures;
power facilities and Increased
Rising monitors radar level values of storage tanks daily; strengthens
equipment may experience
costs, pipeline depressurization management; enhances parking
Average o p e ra t i o n a l fa i l u r e s a n d Interim Medium
decreased management of external operation vehicles, arranges
Temperature i n c rea s e d a cc i d e n t r i s k s ,
revenue special personnel for inspection, and adopts water spraying
affecting production
measures for cooling. The Company completes occupational
efficiency and creating safety
health examinations for employees before summer and
hazards. Simultaneously,
Long-term establishes occupational health monitoring files; organizes
employee health is affected,
Risks relevant high-temperature operation safety training before
preventing long-term
summer to strengthen high-temperature safety operation
outdoor work and impacting
awareness; provides protective and health products that
operational efficiency.
meet requirements, such as parasols, towels, sun hats,
cooling drinks, and heat stroke emergency kits; establishes
high-temperature emergency measures, with immediate
necessaryfirstaidandmedicaltreatmentforthosefoundwith
heatstroke.
The Company's headquarters
and storage terminals are located
Time Scope 1 Emissions (tCO2e) Scope 2 Emissions (tCO2e) Total Emissions (tCO2e)
at relatively low elevations near Increased capital
the sea, making them vulnerable expenditure,
Sea Level to sea level rise. Rising sea levels The Company has formulated a special flood Long-
increased costs, Low
Rise may damage terminal facilities prevention emergency plan. term
and warehouses, affecting decreased
transportation efficiency, increasing revenue 2025 2,209.20 20,877.63 23,086.83
maintenance costs while reducing
business revenue.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Carbon Reduction Measures and Management
Carbon Emission Data
Step Main duties
Main Approach: ·Review of domestic and international standards,
Analysis of domestic and regulatory requirements and best practices
Methodology Development
international standards, ·Develop carbon disclosure principles and indicators for
this report
regulatory requirements and
best practices, combined
with current management
· A ssessment of enterprise -owned and controlled
status, to conduct greenhouse Boundary Setting and Baseline
operations and facilities
gas inventor y ensuring the Year Establishment
·Definition of organizational and reporting boundaries
company's carbon emissions
are measurable, reportable and
·Mapping of direct, indirect and other indirect emission
verifiable (MRV).
Emission Source Identification sources
·Determination of key emission points
·Selection of appropriate greenhouse gas calculation tools
Calculation Methods for this project
and Emission Factors · Identification of emission factors requiring measurement and
supporting documentation
Purpose:
·To ensure carbon emission
Activity Data Collection ·Prioritization of data collection activities
calculations comply with
Methodology ·Establishment of data collection protocols
external regulatory requirements
·To ensure establish carbon
emissions that meet measurable, Carbon Data System ·Presentation of carbon data system framework
Development Workshop ·Refinement based on departmental feedback Carbon Neutrality Project
reportable and verifiable
principles
On October 15, 2025, Changzhou Great River, a subsidiary of Great River Smart, successfully
·Establishment of data collection pathways and passed the authoritative certification of China Environmental United Certification Center Co.,
Carbon Data System requirements Ltd. (CEC) for officially achieving its carbon neutrality target and ranked among the leaders
Finalization ·Implementation of comprehensive carbon emission in green development in the petrochemical storage field. This carbon neutrality certification
data system strictly followed international general standards throughout the process. A full-process,
comprehensive and strict verification was conducted on the greenhouse gas emissions of
Changzhou Great River from June 1 to August 31, 2024, which fully covered direct emissions
(Scope 1) and indirect emissions from purchased energy (Scope 2). Through rigorous emission
accounting and accurate confirmation, Changzhou Great River scientifically purchased
Carbon Reduction Targets compliant carbon credit allowances to offset all related greenhouse gas emissions for the
same period and successfully passed the carbon neutrality certification. This successful
certification not only strongly confirms the Company's green transformation results, but also
With green and low-carbon development as its core, Great River Smart has clarified its carbon neutrality pathway: The Company controls carbon
fully demonstrates Great River's firm determination to proactively put into practice ecological
emission growth through energy structure optimization, energy efficiency improvement, and low-carbon supply chain management, with a environmental protection concepts, actively fulfill social responsibilities, and contribute to
preliminary plan to peak emissions before 2030 and achieve carbon neutrality by 2060, reaching net-zero emissions in operations and value chains. the achievement of the "dual carbon" goals. In the future, Great River Smart will continue
In 2025, Changzhou Great River successfully obtained carbon neutrality certification, and the certificate has been published on the Carbon Neutrality to deepen energy conservation and emission reduction initiatives, continuously optimize
its energy structure and operational processes, persistently focus on green and low-carbon
Information Platform under the Ministry of Ecology and Environment. The Company plans to complete carbon neutrality certification for 1-2
development, and contribute its strength to the realization of the national "dual carbon"
enterprises in 2026, achieve carbon-free plants through renewable energy application, low-carbon processes, and intelligent energy management,
strategy.
and set a benchmark for green manufacturing in the industry. In the future, the Company will drive industrial low-carbon transformation through
technological innovation and management reform, contributing to global climate governance and sustainable development.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Green Office
Breather Valve Exhaust Gas Treatment and Improvement Project in Tank Farms
The Company deeply practices the green development concept by making green office as an important tool for fulfilling environmental
responsibilities and promoting low-carbon operations. During the reporting period, the Company systematically advanced the construction
of a green office system, continuously reduced the environmental footprint of its operational activities, and supported the achievement of
Upholding a strong sense of environmental responsibility, Changzhou Great River, a subsidiary of Great River Smart, strictly adheres to
the Company's "dual carbon" goals, with a focus on resource conservation, energy management, waste reduction, and employee awareness
national laws and regulations on environmental protection. In the context of actively responding to the requirements for regional refined
enhancement.
governance of air environment, and based on the Company's solid foundation in previous VOC treatment efforts, it meticulously organized
the formulation of the Implementation Plan for the Breather Valve Exhaust Gas Treatment and Improvement Project in Tank Farms to 1. Continuously optimize the energy consumption structure of office spaces, and promote
proactively advance the deep treatment of exhaust gases in tank farms and continuously enhance the environmental governance level. To and apply energy-saving LED and inductive electrical equipment;
this end, the Company made a special investment of CNY 5.60 million to officially launch the breather valve exhaust gas treatment and 2. Strictly comply with the energy-saving requirement of keeping air conditioning
Energy and Resource Management
improvement project in tank farms. The project mainly consists of two components: First, it will systematically replace and upgrade the temperature at 26℃ in summer and below 20℃ in winter;
breather valves and pressure relief manholes of 70 internal floating roof storage tanks in tank farms to strengthen the efficiency of closed
electronic approval processes.
exhaust gas collection at the source and reduce fugitive emissions of exhaust gas; second, one set of "three-stage condensation" vapor
recovery unit with a processing capacity of 500m?/h will be added at the loading platform to further enhance the terminal recovery and
treatment capacity of exhaust gas and achieve the resource utilization and harmless treatment of exhaust gas. The project registration
Waste Management facilities in office areas;
was completed in September 2024. It played a positive and significant role in improving regional air environment quality and promoting and Resource Recycling 2. Advocate water conservation, and strengthen inspection and maintenance of water
collaborative governance of the surrounding ecological environment. This will fully reflect Great River's responsibility and commitment as a facilities.
responsible enterprise to actively participate in the construction of a "Beautiful China" and practice the green development concept.
Green Procurement office equipment and consumables; 2. Encourage suppliers to provide green packaging and
reduce excessive packaging.
conservation and environmental protection knowledge, and advocate low-carbon office
Green Concept Promotion and Employee behaviors;
Participation 2. Encourage employees to start with small actions such as turning off lights when leaving,
double-sided printing, reducing the use of disposable cups, and bringing their own cups to
meetings.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Product Responsibility and
Customer Service
Product Quality and Safety 63
Customer Service 67
Data Security and Privacy Protection 71
R&D and Innovation 73
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Full Lifecycle Quality Management Process
Product Responsibility and Customer Service Centered on full lifecycle quality management, Great River Smart Logistics dynamically monitors quality change trends, proactively prevents quality
incidents, and ensures that customers’ stored goods are controlled according to standards throughout the inbound, in-storage, outbound, and
sample stages, building a strong defense line for cargo quality and operational safety. The Company has established the Great River Smart Logistics
Inventory Quality Control Standards to promote full lifecycle quality management of its stored goods.
Product Quality and Safety
The inbound stage is the most intensive phase of quality monitoring. Differentiated sampling and testing processes are in place for different
Product Quality-Related Governance transportation modes such as vessels, tank trucks, pipelines, and bulk water buckets. Quality monitoring throughout the inbound stage emphasizes
the "Three Joint Principles" (joint sampling, joint sealing, and joint signing).
Great River Smart Logistics upholds its core values of "customer-centricity, HSE as foundation, contributor recognition, long-term commitment,
and continuous innovation." Operating in full compliance with ISO 9001 standards and relevant regulatory frameworks, the company leverages its · Vessel Inbound Quality Monitoring: After berthing, the measurement post, together with inspection authorities and vessel crew, samples the cabin,
Smart Customer Service System to ensure complete traceability throughout the cargo custody chain, guaranteeing service reliability and safety.
while also recording the previous three cargoes carried by the vessel and tank cleaning to prevent cross-contamination.
The Company's quality management strategy emphasizes digital transformation and supply chain collaboration, with the Strategy and Marketing
· Tank Truck Inbound Quality Monitoring: Verify the tank number and product name before operation. Release material from the tank truck's discharge
Department aligning quality objectives with corporate goals while the Process and Digitalization Center deploys IoT and big data analytics for real-
time storage monitoring and risk alert optimization. outlet to test for water and quality. Do not sample until confirming there is no free water or impurities.
The Terminal Tank Operation Center focuses on internal refined management. By improving the internal control management system, it implements · Pipeline Inbound Monitoring: For the first feed via pipeline, samples must be taken together with inspection authorities from the external pipeline
strict control and precise optimization of material losses, and enhances customer satisfaction through refined, high-quality management and sampling port and the storage tank, with a volume ≥ 1L. Operations can only proceed after passing laboratory testing.
effectively safeguards core customer interests. At the same time, it establishes a comprehensive management process for all categories of goods, · Bulk Water/Original Drum Monitoring: Bulk water tank trucks must pass sample testing; original drums must undergo packaging appearance inspection
fully standardizes all aspects including sampling standards, sampling methods, sample management, and emergency response, and ensures the before being sent inbound, with the drum quality disclaimed in writing by the cargo owner.
quality and safety of stored goods from source to end.
Product Quality Management Risks and Opportunities
Quality monitoring during the in-storage phase aims to "promptly detect quality change trends and prevent quality incidents." Dynamic control
of cargo quality within storage tanks is achieved through routine testing at regular frequency, increased testing for sensitive goods, and data trend
Main Risks Faced by Product Quality Management analysis.
Failure to meet product quality standards would violate the quality management system and relevant laws and regulations, requirements, product quality standards, and agreements with the customer.
potentially leading to cargo ownership disputes and customer claims, which affects the Company's compliant operations and · Increased Monitoring: For quality-sensitive goods such as methanol, ethylene glycol, and aniline, or for stored goods whose quality is
market reputation. at a critical point (close to the lower or upper limit specified in the contract), the sampling and analysis frequency may be increased as
Inadequate control of material losses and insufficient assurance of cargo quality safety directly reduce customer satisfaction, · Tank Transfer Quality Monitoring: Before transferring, a sample must be taken from the source tank and sealed. If the destination tank is
leading to the loss of core customers and shrinking of market share. Negative public opinion arising from quality issues would not empty, samples must be taken from both tanks before the transfer. After the transfer is complete, a mixed sample is taken from the
severely damage the brand image and weaken the Company's competitiveness within the industry. destination tank.
Opportunities in Product Quality Management
Quality monitoring during the outbound stage ensures that the quality of the dispatched product is consistent with the quality of the cargo inside the
storage tank, and it is imperative to prevent quality disputes caused by stratification, pipeline contamination, or improper operation.
Pre-dispatch Quality Confirmation: For both vessel and truck loading, samples must be taken by the measurement post, together with inspection
authorities and the cargo owner. Dispatch can only proceed after passing laboratory testing.
By strictly following the ISO 9001 standard and achieving full-process traceability of cargo ownership through the smart
Dispatch In-Process Quality Monitoring: 6-10 minutes after the start of vessel dispatching, a pipeline sample at the vessel's inlet must be taken together
customer service system, the Company can create a compliance benchmark, gain recognition from both regulators and the with the vessel crew, and signed and sealed by the crew. The focus should be monitoring the quality of the product leaving the pipeline; the pipeline
market, and enhance brand credibility. can only be used after passing testing.
Refined internal control management, low loss rates, and high-quality assurance can significantly increase customer stickiness
and positive word-of-mouth, and contribute to expansion into new business and new markets. A customer-centric quality 4.Sample Traceability Quality Management
service model can build long-term and stable customer relationships, thereby laying the foundation for the Company's
sustained profitability. Sampling management covers the entire chain from sample sealing to sample destruction, ensuring samples are intact, traceable, and not
tampered with. Samples are sealed immediately after collection. Labels must be fully and accurately filled out to ensure that information
cannot be swapped. Unsealing a sample requires confirmation from relevant departments of the Company. Expired samples are treated as
hazardous waste after customer consent, with different types collected separately.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Quality Culture Construction Handling of Non-Conforming Products and Quality Safety Incidents
Guided by its "customer-centric" core value, the Company systematically advances the promotion and construction of a quality culture, continuously To standardize the full-process quality control for the inventory and effectively prevent and handle abnormal goods quality, the Company has
strengthens the quality awareness of all employees, and consolidates the foundation of quality management. formulated the Great River Smart Logistics Inventory Quality Control Standards.
It regularly organizes quality management (internal control management) themed training, covering all positions from management to Product Quality Management Indicators and Targets
front-line operators.：
For core positions such as storage operations, sampling, and testing, specialized training on the ISO 9001 system standards, goods sampling Considering both the Company's strategy and customer needs, clear staged quality management targets are set:
specifications, sample management processes, and quality risk identification is conducted to comprehensively improve professional operational
capabilities. At the same time, review and teaching of typical quality dispute cases are conducted to strengthen employees' ability to predict and 01.Loss Control Target：
handle quality risks through scenario-based analysis.
To control the annual material loss rate within the satisfaction threshold agreed with customers, continuously optimize storage operation
processes, and reduce abnormal losses.
To achieve zero quality incidents for the year and comprehensively prevent risks such as abnormal goods quality and safety hazards.
To achieve a 100% timely resolution rate for quality disputes, with customer complaint response time not exceeding the specified limit,
thereby enhancing customer trust.
Great River Smarter Logistics conducted quality management (internal control management) themed training
Great River Smarter Logistics conducted review and teaching of emergency management and accident case analysis
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Customer Service Customer Service Process
Customer Service Governance Marketing and Service Collaboration
Commercial Center is responsible for overall marketing planning, the Integrated Management Team supervises sales progress, the Risk Control
The Company has built a comprehensive customer service system, including the Market Development and Customer Service Management Team reviews marketing content for compliance, and the Sales Team implements specific marketing plans. The departments form a collaborative
Procedures, the Customer Relationship Management Regulations, the Customer Satisfaction Survey and Evaluation Management System, the mechanism to ensure truthful marketing information and match between service and demand.
Customer Service First-Contact Responsibility System, the Customer Complaint Handling System, the Front-line Position Service Management
Regulations, and the Chemical Warehouse Key Account Management Regulations, to provide institutional guarantees for standardized customer
service.
Service Process
Management Structure
Pre-service Communication
Customer service staff maintain ongoing communication with clients, providing detailed information about warehouse
entry/exit procedures and highlighting important considerations.
Establish a customer service specialist position in the Business Center to be responsible for supervision and overall
coordination of customer service work;
In-process Communication
Clients submit warehouse orders to customer service representatives who enter this information into the system,
converting it into internal execution orders that trigger operational instructions. Throughout this process, customer
Customer service personnel at each subsidiary are responsible for implementing daily customer management, collecting
service representatives maintain continuous communication with clients, promptly addressing questions and concerns.
customer opinions and suggestions, answering questions, and coordinating across departments to solve problems;
Collaborative Service
Employees from customer service, billing, operations, HSE, and other positions collaborate to provide full-process terminal loading
and unloading operations for the cargo receivers/deliverers; in 2025, a dedicated online filing service position was added to be
Sales personnel at each subsidiary assist the customer service personnel in answering customer questions and handling
responsible for providing operation guidance on the online filing system, information verification, and answers to questions.
internal and external coordination, and are responsible for daily customer maintenance;
First-contact Responsibility
Great River Smart implements a "first-contact responsibility system" across all service positions. This approach ensures
The head of the Business Department at each subsidiary is responsible for maintaining key accounts and answering/ that the first staff member contacted about an issue takes ownership of its resolution, eliminating responsibility
handling complex issues; transfers that could delay service and impact customer satisfaction.
Customer Feedback Systems
Customer opinions and suggestions are collected on an ongoing basis through multiple channels and at multiple levels. Not
Relevant departments are responsible for the rapid handling of customer service issues occurring within their respective
only do salespersons proactively collect feedback through phone communication and customer visits, but customer service
work scopes and the collaborative handling of related customer service incidents.
staff, operations personnel, and other positions also participate simultaneously and continuously to gather input. Combined
with regular customer satisfaction surveys, this approach enables a comprehensive understanding of customer satisfaction
and improvement needs, driving continuous optimization of services and management.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Customer Complaint Chemical Warehouse Segment Satisfaction Survey Results
Timeliness Accuracy of Packaging Clarity and Communication Ability to Daily Reports Timeliness and
Ability and
Storage Overall of Loading/ Loading/ Safety and Completeness Handle and Reasonableness
Complaint Handling Channel Attitude of
Facility Average Unloading Unloading Appearance of Packaging Service Abnormal Reconciliation of Complaint
Operations Operations Integrity Labels Issues Services Handling
All Great River Smart subsidiaries have implemented "Customer Service Communication Groups" designed for swift Personnel
complaint resolution. Customer service specialists track both complaint details and resolution progress.
Changshu
Great Smart
Dongguan
Complaint Follow-up and Handling Evergrowing 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
Terminal
Follow-up by Designated Personnel: Customer service specialists are responsible for recording and following up on customer
complaints and tracking handling progress throughout the process.
Zhongshan
Regular Summary: Customer service specialists compile and summarize customer complaints and their handling status on a weekly GR Terminal
basis, and report them during the Company's business meetings.
Closed-Loop Management: For customer complaints that cannot be resolved immediately, a special supervision mechanism is Cangzhou
Great
established, with continuous follow-up until the issue is completely resolved and forms a closed loop. River 99.10 98.80 99.20 99.20 98.80 99.20 99.60 99.60 98.40
Warehousing
& Logistics
Complaint Prevention and Improvement Chengdu
Great Smart 98.68 98.24 98.82 97.65 99.41 99.41 98.82 98.82 98.24
Combine customer complaint handling results with customer satisfaction surveys and daily customer feedback, extract Warehousing
service pain points, and optimize service processes and standards in a targeted manner to reduce the occurrence of
Nantong
complaints at the source. Hongzhi 98.39 98.57 98.57 97.14 98.57 98.57 98.57 98.57 98.57
Logistics
Customer Satisfaction Survey 98.21 99.29 99.29 98.57 98.57 98.57 96.43 98.57 96.43
Changzhou
Great Smart
Overall
The overall satisfaction score for 2025 was 98.91, a slight increase from 97.15 in 2024. The satisfaction survey results for each segment and Average
storage facility are as follows:
Terminal Storage Tank Segment Satisfaction Survey Results
Responsible Marketing
Staff Service Complaint
Berthing & Storage & Dispatch & Overall
Storage Facility Overall Average Attitude and Feedback
Unloading Safekeeping Service Evaluation
Complaint Handling Great River Smart consistently upholds the business philosophy and mission of "customer-centric, providing quality service to customers," deeply
integrating responsible marketing into our corporate development strategy and daily operations. We deeply understand that responsible marketing
Nantong Base 98.46 97.83 99.14 98.62 98.93 99.26 98.04 is not only a cornerstone of corporate social responsibility but also the core driver to achieve sustainable development.
Zhongshan GR
Management Structure and Coordination Mechanism
Terminal
Fujian Gangfeng
Energy The Company has built a management structure with clear responsibilities and efficient coordination. The Commercial Center is responsible for
overall marketing planning, the Integrated Management Team supervises sales progress, the Risk Control Team reviews marketing content for
Taicang Power Shell
Petrochemical compliance, and the Sales Team implements specific marketing plans. The departments form a closed-loop collaborative mechanism to ensure
marketing information is truthful, accurate, and free from misleading content from source to end.
Changzhou GR
Terminal
Information Disclosure and Authenticity Assurance
Nanjing GR
Terminal
Great River Smart Logistics consistently adheres to open and transparent market communication principles. The official website, brochures, and
exhibition materials truthfully present terminal storage tank operational capabilities, service scope, and fee standards. It proactively discloses
Changshu
Terminal Base
company operational conditions and service upgrade information through official website, social media, regular customer communication meetings,
and other channels, helping customers make informed decisions with full knowledge.
Lishadao Base 97.84 97.69 97.65 97.88 99.26 97.94 97.50
Customer Rights and Two-Way Communication
Rizhao Great River 99.44 99.50 99.33 99.44 99.50 99.50 99.50
To protect customer interests, the Company has established a comprehensive customer management system, accurately recording needs and
Overall Average 98.73 98.88 98.17 98.80 99.42 99.30 98.58 communication history to ensure marketing information precisely matches customer needs. Through regular customer satisfaction surveys and
continuous optimization of promotional materials and marketing strategies, positive interaction and shared growth with customers is achieved.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Data Security and Privacy Protection Data Security and Privacy Protection Measures
Great River Smart Logistics deeply understands the importance of data assets and consistently places data security and privacy protection at the
Data Security System core of its operations. We have built a defense-in-depth system covering the entire company and business partners, and ensured the confidentiality,
integrity, and availability of information assets through system specifications, technical means, and independent audits.
The Company maintains a comprehensive information security management system built around ISO compliant frameworks including the
OA System Management Protocol and the SAP System Usage Management System. Led by the Process and Digitalization Center, this security 1. Data Security Management System and Technical Measures
architecture ensures coordinated and supervised information security activities throughout the organization. To mitigate potential system failures
and safeguard information assets, the company has implemented the IT Security Management Protocols that establish clear requirements for data The Company's Process and Digitalization Center coordinates data security management with a protection system covering the entire data lifecycle.
backup procedures, emergency power maintenance, data protection measures, and network security controls. The Company has formulated internal policies such as the Computer and Network Management Regulations to improve data security management
policies. It prevents unauthorized access through login authentication, screen locking, data encryption, and logical isolation. Uploading sensitive
data to external AI tools is strictly prohibited. Desensitization specifications are formulated to ensure data sharing security. At the same time, the
Company regularly conducts internal reviews and risk assessments of its information systems.
The Company follows the principle of "putting prevention first and combining prevention with regulation" in building a full-process data security
incident emergency response mechanism covering pre-incident prevention, in-incident handling, and post-incident improvement. In daily
management, the Process and Digitalization Center is responsible for real-time network monitoring and risk early warning, ensuring early detection
and intervention of anomalies. When data anomalies occur, the Process and Digitalization Center responds rapidly according to preset procedures:
immediately implement network isolation to cut off the path of risk spread; simultaneously conduct log traceability to pinpoint the source of the
anomaly; then perform system recovery to restore normal business operations.
With business continuity as its cornerstone, the Company has built a rigorous backup and disaster recovery system. It performs automated backup
tasks for the core production system (SAP), file servers, and mail servers, achieving full coverage of critical data. All backup data is stored in
dedicated fireproof, moisture-proof, and anti-magnetic locations. The SAP system is configured with the remote disaster recovery functionality to
ensure seamless business switching in case of single server or storage failure. The Process and Digitalization Center monitors the backup success
rate on a monthly basis, with a target value of 100%. This ensures data can be effectively restored when needed, providing solid support for the
Company's stable operations.
Data Security and Privacy Protection Targets
Customer Privacy Protection System
·Data Security Coverage Target
To achieve full backup coverage of the core production system (SAP), file servers, and mail servers, with a 100% backup success rate for core
The Company attaches great importance to customer privacy protection, making it an integral part of compliance management and data governance.
systems.
It strictly complies with the Personal Information Protection Law of the People's Republic of China and relevant laws and regulations. The Company
has formulated the IT Security Management Protocols and established a sound customer privacy protection system covering the entire lifecycle of
data collection, transmission, storage, use, and destruction, effectively safeguarding the legitimate rights and interests of customers. Concurrently, ·Privacy Protection Compliance Target
the Company provides information security and privacy protection training for new employees to prevent the leakage of important information. To strictly comply with the Personal Information Protection Law of the People's Republic of China and related regulatory requirements, and
During the reporting period, the Company had zero vicious incidents of leaking customer privacy or data. The Company's information security ensure the entire process of customer personal information collection, use, and storage is legal and compliant.
management system operated smoothly, with no regulatory inquiries, legal proceedings, or public complaints regarding customer privacy leaks.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
R&D and Innovation Industry-University-Research Collaboration
The Company places great importance on industry-university-research collaborative innovation, considering it a key strategic measure for improving
Innovation-Driven Development Strategy
the technological innovation governance system and enhancing independent innovation capability. During the reporting period, focusing on
key technology R&D and industrial application needs, the Company continuously deepened its collaboration mechanism with external research
institutions to promote the effective connection of cutting-edge research results with the Company's business scenarios. A multi-level, multi-
The Company adheres to technological innovation, digital innovation, and management innovation as its core engines, deeply integrating innovation dimensional industry-university-research cooperation ecosystem has taken shape.
into its sustainable development strategy to empower high-quality development that is green and low-carbon, safe and efficient, compliant and
transparent.
Subsidiary Partner Institution Cooperation Content Cooperation Progress
Hazardous Chemical Warehouse
Changzhou Vocational Institute of Temperature and Humidity
Changshu Great Smart Under normal cooperation
·Digital Technology Innovation Mechatronic Technology Online Monitoring Development
Project
An integrated platform for smart warehousing, smart transportation, and smart customer service is built to improve operational efficiency
Academy of Environmental Capital Application and Service
and reduce resource consumption and carbon emissions through full-process digitalization and intelligence.
Dongguan Evergrowing Terminal Planning and Design Co., Ltd., for Organic Liquid Storage Tank Under normal cooperation
Nanjing University Upgrading Project
In terms of cooperation mechanisms and platform development, the Company has established long-term, stable strategic cooperative relationships
with renowned universities such as Nanjing University and Changzhou Vocational Institute of Mechatronic Technology, or their affiliated research
·Green Technology Innovation institutes. By jointly building platforms such as "University Student Employment and Entrepreneurship Internship Bases" and "University-Enterprise
Partner Units," it has formed a comprehensive cooperation pattern covering technology R&D, talent cultivation, and achievement commercialization.
Deepen the application of technologies such as high-precision measurement, intelligent loading, and dynamic scheduling
to optimize
In the future, the Company will continue to deepen industry-university-research collaborative innovation, focus on common technical challenges
resource allocation, reduce material losses and energy waste, and support the achievement of dual carbon goals.
in the industry, expand the breadth and depth of cooperation, promote the transformation of more scientific and technological achievements
into practical productivity, lead the Company's high-quality development through innovation-driven development growth, and contribute greater
strength to the technological progress and sustainable development of the industry.
R&D Achievements
·Safety Governance Innovation
risk prevention and
Establish an intelligent early warning, full-process traceability, and closed-loop management system, strengthen
control and emergency response capabilities, and ensure safety production and compliant operations. Changshu Great Smart’s Hazardous Chemical Warehouse Online Monitoring System
·Multi-dimensional Perception and Intelligent Early Warning: Build an intelligent early warning system with adjustable thresholds and graded
alarms that integrates temperature, humidity, toxic and flammable gas, and flame detection to enhance the safety factor of hazardous
chemical storage.
·Mechanism and Ecosystem Innovation
Improve innovation incentives and talent development mechanisms, promote industry-university-research collaboration and joint industry ·Closed-loop Linkage and Automatic Disposal: Achieve linkage between alarms and emergency equipment such as exhaust fans, sprinklers,
standard development, empower ESG governance with technology, and build core competitiveness for sustainable development. and static elimination, forming a closed-loop of "monitoring-early warning-disposal" to effectively control accident risks.
·System Compatibility and Remote Control: The data acquisition module is compatible with existing SCADA systems, supporting remote
monitoring and action control, which reduces manual dependence and enhances the information management level.
R&D Management System
Dongguan Evergrowing Terminal’s Storage Terminal Fire Protection System and Remote-Control System
The Company consistently regards R&D and innovation as the core driving force for sustainable growth. Centered on its development strategy
and market demands, it has built a systematic, well-functioning, and efficient R&D management system. Guided by innovation value, this system
·Fast Opening/Closing and Emergency Efficiency Improvement: The innovative design of gas-electric controlled fire valves features
ensures efficient and orderly R&D activities and continuously enhances the technological innovation capability and the level of achievement
electromagnetic and permanent magnet coordination to achieve millisecond-level valve opening, which significantly improves the fire
commercialization through sound organizational structures, improved institutional processes, strengthened resource allocation, and risk
response speed compared to traditional pneumatic methods.
management. To accelerate the development, promotion, and application of new technologies, standardize R&D project management processes,
improve project management efficiency, and promote the standardization, effectiveness, and scientific rigor of R&D project management, the
·System Compatibility and Remote Control: The independently developed remote control system is seamlessly compatible with the existing
Company has formulated the Research and Development Organization Management System, covering R&D project initiation, process management,
central control platform, requiring no new control room and achieving precise remote control from a distance of 500 meters.
achievement acceptance, intellectual property protection, achievement commercialization, and post-project evaluation.
The Company has established an R&D organization system where the HSE and Innovation Committee provides overall planning, the Technology R&D
Project Management Committee conducts research and review, and research offices composed of technical personnel from various subsidiaries are ·Safety Compliance and Cost Optimization: Replace old and faulty equipment, meet mandatory requirements of fire protection regulations,
responsible for specific R&D projects. improve equipment integrity rate and emergency support capability, and reduce maintenance costs.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Digitalization and Intelligence Terminal Storage Tank Operation Management System Officially Launched
·Full-Process Digital Management: Replace traditional models with paperless operations and automated processes to reduce paper consumption
Optimization and Upgrade of SAP System Functions and offline communication, significantly improve business flow efficiency, and achieve dual optimization of resource utilization and operational
efficiency.
·Chemical Warehouse Settlement Capability Upgrade: Reconstruct core logic, adopt a flexible settlement model with a three-level architecture,
improve cost processing and rule validation, simplify operation processes, and enhance settlement efficiency, accuracy, and cost control levels. ·High-Precision Measurement Calculation: Reduce material measurement errors, energy waste and carbon emissions while ensuring data
accuracy through millimeter-level precision algorithms and multi-scheme adaptation, laying the foundation for resource optimization and
·Full-chain Automation of Electronic Invoices: Achieve deep integration between SAP and the invoice platform to enable full-process automated compliance management.
processing while reducing operational risks and improving compliance and customer service experience.
·Intelligent Validation Rules: Provide built-in multi-dimensional data and business validation mechanisms to offer real-time early warnings
·Document and Interface Coordination Optimization: Supplement online management of documents, optimize cross-system interfaces, achieve
of abnormal risks, strengthen operational standardization and safety production control, and effectively reduce operational errors and
efficient data synchronization and business closed-loop, and reduce offline risks.
environmental accident risks.
·Information Security and Internal Control Strengthening: Enhance data encryption and log traceability, improve permission control, and use
rule-based processes and early warnings to improve internal control, providing data support for ESG disclosure. ·Data Traceability System: Completely record full business process data, support multi-dimensional traceability queries, achieve management
transparency and data-driven decision-making, improve governance compliance and risk prevention capabilities, and support ESG
implementation.
Improvement and Enhancement of Smart Customer Service Platform
·Capability Enhancement at Mobile Terminal: Expand functions such as bill query, shipment import, and loading arm progress query, upgrade
OCR recognition, optimize account security policies, and improve self-service and operational efficiency. Transportation Management System Officially Launched
·WEB End Process Automation: Implement functions such as automatic generation of appointment orders and multiple orders per vehicle, ·Digital Intelligence Concept: Centering on ESG as the core guideline, adhere to the concept of "using regulation as the foundation, system as the
optimize the closed-loop management of park entry declarations, adapt to business rules, and improve operational efficiency. tool, and data as the evidence", and promote green, safe, compliant, and efficient development of logistics business.
·Billing-Reconciliation-Invoicing Closed-loop: Support online payment collection and automatic reconciliation, and integrate with the Golden ·Digital and Intelligence System: Build an integrated architecture of "unified authentication + fine-grained permissions + full-process traceability
Tax System and the invoice system to achieve integration of business, finance, and tax, and enhance settlement compliance and traceability. + compliance assurance", and form a digital support system covering governance, environment, and society.
·Interface Integration and Ecosystem Expansion: Integrate services such as electronic signatures and SMS notifications, connect with key account ·Core System Application: The Transportation Management System achieves full-process online order, capacity, and dispatch management, and
systems, open up the entire business data link, and strengthen the collaborative ecosystem. strengthen ESG control through intelligent load planning, risk validation, and data traceability.
·Data Security and Governance: Improve permissions, encryption, and log traceability, unify data standards, and support internal control
·Application Results: Transportation efficiency and resource utilization are improved, and carbon emissions are reduced; a strong safety and
management and ESG information disclosure.
compliance defense line is built; employees and customers are empowered; high-quality data assets are accumulated, and the foundation for
ESG disclosure and continuous optimization is laid.
Smart Customer Service and AI Capability Development
·Introduction of Large Model Capabilities: Apply large models to inquiry Q&A, knowledge retrieval, and content generation. Integrate with the
business knowledge base to improve customer service response speed and first-time resolution rate while reducing manual workload and Technology Ethics
training costs.
According to the Self-Regulatory Guidelines No. 17 for Companies Listed on Shenzhen Stock Exchange - Sustainability Report (For Trial
Implementation), the disclosure target for the "Technology Ethics" topic is specific entities. The Company is not currently involved and therefore
·Intelligent Recognition and Automatic Entry: Deepen the application of OCR and structured extraction to achieve automatic recognition,
may not disclose related content.
validation, and completion of customer information and document data, reduce entry errors, and improve data quality and processing
efficiency.
·Green and Efficiency Benefits: Reduce paper documents and offline communication, shorten business cycles, lower operating costs and
resource consumption, and support green office and digital transformation through online, automated, and intelligent transformation.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Employee Recruitment and
Talent Development
Employee Recruitment 79
Employee Benefits and Care 79
Employee Training and Development 82
Democratic Management and Communication 85
Occupational Health and Safety Production 86
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Employee Benefits and Care
Employee Recruitment
The Company strictly adheres to the Labor Law, Labor Contract Law, and other relevant regulations to safeguard employees' legitimate rights.
Recruitment Management System Beyond statutory benefits, the company has developed a comprehensive benefits system based on overall employee needs. In 2025, we continued
to deepen the HSE culture centered on "employee care" and the "family-care culture," extending the concepts of health, safety, and environment to
The Company strictly adheres to the Labor Law of the People's Republic of China (hereinafter referred to as "Labor Law"), the Labor Contract Law of
the deep care for every employee and their families. We are committed to creating a safe, inclusive, supportive, and vibrant work environment where
the People's Republic of China (hereinafter referred to as "Labor Contract Law"), and other relevant laws and regulations, as well as the Company's
employees feel the warmth and support from the collective and realize both personal and corporate growth while creating value for the Company.
Recruitment Management Policy:
In accordance with regulations, the Company verifies identity information and relevant documentation during the recruitment process to ensure
all hired employees are at least 18 years of age. Labor contracts are signed on the first day of employment, ensuring full compliance with legal
employment requirements.
Deepen Family-Care Culture and Build a Multi-dimensional Care System
Recruitment Process and Measures
The Company adheres to the principles of "openness, equality, competition, and merit" in its recruitment process. Decisions are made irrespective
of gender, ethnicity, religious beliefs, or referral source, with a zero-tolerance policy toward discrimination in any form.
The Company’s comprehensive talent acquisition strategy encompasses campus recruitment and social recruitment, as well as internal promotions Colleagues in Need
and talent redeployment, expanding our talent pool and continuously optimizing our talent structure. For campus recruitment, the Company has
"Employee Mutual Aid Fund" is a project that embodies the spirit of mutual assistance and fraternity at Great River. In 2025, this project
established long-term partnerships with multiple domestic universities. It enhances its employer brand through career planning lectures. Our
social recruitment efforts utilize multiple channels including recruitment websites, job fairs, high-end recruitment hunting, and employee referrals, provided timely financial assistance for 6 employees and their immediate family members (including parents, spouses, and children) facing
focusing on core personnel with experience in chemical storage. Meanwhile, internal promotion is strongly encouraged, with eligible employees able difficulties, with a total assistance amount of CNY 88,000, effectively helping them through hardships. At the same time, the Company
to apply for positions across departments and obtain career advancement opportunities through open competitions. The Company also promotes purchased mutual insurance for 1,545 employees registered with the labor union, with an annual premium expenditure of CNY 146,545.04.
internal job rotation based on business development needs, providing diverse career path options and enhancing organizational efficiency. For
The "Employee Mutual Aid Fund" project, managed by the labor union and supervised by employees, ensures that every donation is used
departing employees, department heads and HR representatives conduct deep exit interviews to gain thorough insights into their concerns and
where it is most needed and truly practices the altruistic spirit of "one for all, all for one."
reasons for leaving. This approach not only offers an opportunity to retain core talent whenever possible but also continuously optimizes systems
and processes based on feedback on management issues and career development pain points, thereby enhancing organizational effectiveness.
Recruitment Indicators and Targets
The Company aims to recruit and deploy strategic talents aligned with its strategy.
The target number of key talents to The coverage target of the core management
be recruited was succession plan was
Employee Benefits and Care
Employee Compensation System
Basic Health Protection
The Company previously adopted a "market-aligned" compensation strategy combined with a multi-level, multi-dimensional compensation
and benefits system, and has established performance assessment and payroll accounting systems. The current compensation strategy focuses The Company organizes annual health checkups for all employees, incorporating employee health management into its regular care system.
primarily on external competitiveness. The Company's salary adjustment principle combines overall and individual adjustments, with relatively Comprehensive physical examinations help employees understand their health status in a timely manner and enables early prevention, early
fixed adjustment cycles and methods. However, as it continues to develop and the external environment changes, the Company deeply realizes that detection, and early treatment of diseases, safeguarding employee health.
a scientific and reasonable compensation incentive mechanism is the core cornerstone for stimulating organizational vitality, protecting employee
rights, and achieving sustainable development. The Company fully benchmarked against Huawei by introducing the "gain-and-share" concept from
"Might from a Small Hole, Benefits from One Source", to achieve synchronized resonance between the Company’s development and employee
growth.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Care for Female Employees and Empower "Her"
Employee Training and Development
Female employees are an indispensable and vital force in the Company's development. In 2025, through a combination of regular activities and
themed planning for important holidays, the Company cares for female employees from multiple dimensions such as physical health, psychological
care, and a sense of life ceremony, letting their unique charm blossom in the workplace and life. Training and Development Management System
activities. In 2025, with the theme "AI Era, Love Yourself," Great River presented exquisite gifts and warm breakfasts to female employees Academy has developed targeted frameworks across multiple dimensions. These include daily training administration, internal faculty development,
and organized online lucky draws to allow all female employees to share the festive surprise. Additionally, the Company arranged an and support for employee-driven educational advancement and skills enhancement. Together, these systems solidify the foundation for fostering a
exclusive movie-watching activity that female employees and their families were invited to enjoy warm and happy family time at the robust learning organization.
cinema. During Mother's Day, the Company planned an activity themed "All Wishes Come True, Gather Love into a River", aiming to
Applicants for Education & Skill Total Education & Skill Enhancement
express love and gratitude to mothers through simple yet sincere handicrafts.
Enhancement Subsidies in 2025 Subsidies Distributed in 2025
Special-grade Skill Certification/ Advanced Skill Certification/
SeniorProfessional Title AssociateSenior Professional Title
Intermediate Skill Certification/ Entry-level Skill Certification/
Intermediate Professional Title JuniorProfessional Title
Instructor Team Building：
carrying out special health care activities. In 2025, experts from the Provincial Workers' Hospital were specially invited to hold lectures Activate internal training resources, and establish instructor certification, empowerment and incentive mechanisms. A professional, hierarchical
on the prevention of "two cancers" (breast cancer and cervical cancer) and provided professional health management advice. In instructor team has been formed, providing core support for the efficient operation of the training system.
collaboration with party-building co-construction units, oral health check services were provided and guides female employees to better
care for themselves, starting from physical health details. Special Invited No. of Gold Medal No. of Senior No. of Intermediate No. of Junior
Instructors Instructors Instructors Instructors Instructors
Knowledge Consolidation：
The Company places high importance on knowledge consolidation and company-wide innovation. GR Management Academy organized the 2025
"Great River Wisdom Gathering", an initiative to review inheritance and practice of construction methods. This review covered multiple business
areas such as digitalization and tool application, equipment and storage tank management, operational processes and technology, safety and
compliance, firefighting and emergency equipment, and operations and management. All types of construction methods closely centered
around the Company’s core objectives such as management upgrading, cost reduction and efficiency improvement, and risk control, effectively
consolidated frontline best experience, fully stimulated company-wide innovation vitality, and provided solid practical support for the Company's
operational efficiency improvement and sustainable development.
organizes themed activities on female mental health and invites health consultants to conduct special sessions on stress management,
emotional regulation, and self-growth. This builds a platform for female employees to confide and communicate, and helps them
maintain a good mental state and achieve a balance between work and life.
Smart methods Excellent methods Valid methods Submitted methods
Enrich Sports & Cultural Life and Build Team Cohesion
To enhance employees’ physique and enrich their after-work cultural life, the Company Innovative Thinking：
actively organized employees to participate in several sports events in 2025, including The Company actively fosters a learning organization. GR Management Academy has planned and implemented a book-sharing program for
basketball games and badminton matches. On the field, employees sweated freely middle and senior management. Aligned with the company's actual operations, this initiative has identified key action plans focusing on business
and showed the spiritual outlook of Great River people's striving for progress, unity intelligence management transformation, customer relationship management, HR three-pillar construction, business process optimization, and
and cooperation. These activities not only strengthened their bodies, but also greatly project management advancement.
enhanced cross-departmental communication and friendship while creating a positive
and vibrant team atmosphere.
Key Action Items for Implemented Number of Senior Number of Middle and Senior
Looking to the future, Great River will continue to uphold its original intention of
Supervision Projects Executive Participants Management Participants
"employee care," continuously improve the employee care system, strive to create a
healthier, safer, fairer, and more caring work and living environment for all employees, and 23 18 55 284
jointly promote the harmonious, stable, and sustainable development of the enterprise.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Employee Training Performance Assessment and Promotion
To build a learning organization and empower sustainable development, the Company partnered with China Europe International Business School
- CEIBSONLINE.com to establish GR Management Academy. Guided by the mission of "building core capabilities for sustained and stable growth,
HR Three-Pillar Construction
pursuing innovation for long-term employee progress" and the motto of "Self-cultivation, Moral Character, Professional Excellence, Innovation," it
To deepen human resources reform and innovation, and enhance management efficiency and strategic execution, the Company fully promoted the
has built a strategic talent development system. In 2025, GR Management Academy adopted an innovative training model, introducing the HR three-
HR three-pillar construction and built an HR management model deeply integrated with the business in 2025. By the end of the year, it had entered
pillar management model consisting of COE (Center of Expertise), HRBP (Human Resource Business Partner), and SSC (Shared Service Center).
the trial operation phase.
It completed the iterative upgrade of the "eEnterprise Learning" online platform to achieve integration between training modules and human
resources data. It used digital tools to support full-process control of talent development and completed the integrated operation of training plan
formulation, process tracking, effect evaluation, and resource management.
Project Consulting & Construction Cost Unit Personnel Coverage
Number of Trainees Male Female Middle Management Number of Female
Middle Management
CNY 651,310 100%
Qualification System Development
In 2025, the Company promoted the standardization of the qualification system. Through systematic qualification and management, the Company
Offline Training further standardized position-specific talent access and promotion standards, built clear talent career development paths, promoted precise
matching between talent cultivation and position requirements, and consolidated the foundation for the Company's long-term talent team building.
Total Offline Training Hours Average Offline Training Hours Training Hours and Investment
Coverage Rate of Pilot Certification in First Round Number of Participants in Pilot
Certification in First Round
Training Hours - Male Training Hours - Female
Training Development Risk and Opportunity Management
"eEnterprise Learning" Online Platform In 2025, GR Management Academy focused on comprehensively improving core management capabilities, practical business skills, and professional
competence for positions. It built a layered and classified talent cultivation system, and took multiple measures to solidify the talent foundation,
thereby supporting the Company's refined operations and high-quality sustainable development.
Number of Courses Completed Total Learning Hours In terms of improving the project management capabilities of core management personnel, the Academy launched a special program for senior
management to obtain the Project Management Professional (PMP) certification, in a full attempt to develop the professional project management
management team.
Average Learning Hours per Person Number of Course Tasks Published
First Batch in 2025 First Batch in 2025
(Global Average Pass Rate (Official
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Democratic Management and Communication Occupational Health and Safety Production
Employee Satisfaction Survey Occupational Health and Safety Production Management System
Great River Smart Logistics always regards employees as its most valuable asset. By building a multi-dimensional, regular communication and To standardize the Company's HSE management and continuously improve occupational health and safety performance, Great River Smart
feedback mechanism, it comprehensively understands employees’ needs and is committed to creating a harmonious and progressive work Logistics focuses on creating a safe and compliant working environment and protecting employees’ physical and mental health. It prevents
atmosphere. In improving satisfaction, the Company adopts an innovative combination of three approaches: questionnaire surveys, discussions, workplace injuries and health risks, strengthens source prevention and hazard control, and promotes the transformation of safety management
and rationalization suggestions. from controlling accidents and inspecting hazards to forward-looking risk prevention and control, in order to realize the goals of zero injuries, zero
hazards, and zero pollution. It has fully built and implemented the HSE management system based on internal management procedures.
Division of Rights and Responsibilities
Full-coverage Questionnaire Surveys: Regularly conduct anonymous employee satisfaction questionnaire
surveys, with survey dimensions designed in a scientific manner to accurately capture employees' real thoughts
and potential needs regarding career development, compensation and benefits, work environment, etc.
A multi-level rights and responsibilities management structure is set up: The Chairman leads the formulation of HSE work concepts, policies, and overall
development strategies, and reviews core management systems. The HSE and Innovation Committee of the Board is the top decision-making body,
responsible for coordinating and improving the system framework, approving annual work plans and special investment budgets, analyzing the safety
During the reporting production situation, and implementing reward and punishment recommendations. The Health, Safety, and Environment Management Office executes
Zero-Distance Discussions: Persistently hold exchange activities such as discussions with youth employees and resolutions, drafts management systems and target plans, coordinates the signing of responsibility letters, and facilitates solutions to major management
period, employee
face-to-face sessions with management, which provides opportunities to listen to frontline voices in a relaxing challenges. All functional departments strictly implement the requirement that "Whoever in charge of business must be responsible for safety" and
satisfaction reached
and equal atmosphere, and meticulously record employee concerns. Unimpeded communication and mutual solidify professional safety assurance. Subsidiaries, as the responsibility entities, ensure compliance qualifications and operating conditions meet
understanding are ensured. 95.63% standards, implement the headquarters’ management requirements, and build their own sustainable HSE management mechanisms.
Management Policy
Sustainable Suggestion Channels: Vigorously promote the rationalization suggestion mechanism, encourage
Closely aligned with the corporate strategic goals and safety vision, the core HSE policy is established as follows: Strictly adhere to laws and regulations,
employees to actively offer suggestions and advice on operations management, cost reduction and efficiency
conserve energy, reduce consumption, and protect the ecology; uphold safe production, implement forward-looking prevention and control to reduce
improvement, etc. The Company highly values every piece of feedback and has established a closed-loop
occupational risks; maintain integrity in service and meet customer needs; persist in innovation and continuous improvement, co-building and sharing
management mechanism of "collection - review - implementation - feedback" to ensure employees' good ideas
for excellent results. Relying on this policy, a regular management mechanism featuring clear rights and responsibilities, complete systems, autonomous
can take root. management, and continuous optimization has been developed, steadily improving the effectiveness of comprehensive HSE management.
Core Management Concepts
Employee Communication
Adhere to the bottom line of safety development, and make it clear that development should not come at the expense of safety, the environment, or
Democratic management is a solid cornerstone for Great River Smarter Logistics to build harmonious labor relations. The Company is committed employee health. Strictly abide by the principles of prioritizing red line adherence, ensuring responsibility is fully assumed, placing prevention upfront,
to building an unimpeded two-way communication bridge and fully leverages the functions of the labor union and the Employee Representative and implementing strict control. Uphold a sense of awe, strengthen implementation, and rely on technology empowerment. Promote company-wide
Assembly to deeply integrate democratic management into the corporate governance system and effectively safeguard employees' rights to know, hazard identification, and rectify hazards immediately. Strictly enforce pre-job safety training, and those who fail the training are strictly prohibited
participate, and supervise. from taking up their posts. Resolutely suspend work for rectification if compliance conditions or procedures are absent. Take the safety performance of
partners as the primary criterion for cooperation, and implement joint accountability for relevant safety accidents. Implement the assessment principle of
In daily operations, Great River Smart Logistics encourages employees to offer suggestions and advice through institutionalized channels.
exemption from liability for due performance of duties and accountability for dereliction of duty.
Whether regarding operational optimization or daily management, employees’ opinions are promptly heard and seriously treated. The Company
collaborates with relevant departments to evaluate, communicate and resolve various categories of suggestions raised by employees, and ensures
Implementation Principle and Working Mechanism
that suggestions are responded and demands are addressed. When employees feel their personal rights need protection or have questions about
management measures, they can file appeals with their department head or the HR Department, or efficiently communicate information through
the Company's OA office platform, which guarantees an unimpeded feedback path and transparent, efficient handling processes.
At the same time, the Company regularly conducts comprehensive employee satisfaction surveys with full coverage to widely collect employees' The management work is guided by the following core principles: hierarchical local management, multi-party collaborative supervision, full-process
documentation, clear assignment of powers and responsibilities to individuals, effective supervision, strict implementation of rewards and punishments
genuine feelings and suggestions for improvement regarding compensation and benefits, rest and leave, career development, etc. It actively adopts
in accordance with regulations, combination of education with punishment, and a balance between service guidance and supervision and assessment.
reasonable elements from such suggestions, continuously improves its human resource management policies, and strives to create a warmer and Subsidiaries are all subject to the management and assessment of the headquarters, strictly implement the established policies and systems, establish
more fulfilling workplace for employees. an internal management structure in light of local conditions, and complete the filing procedures. At the same time, a regular working mechanism should
As institutional assurance for democratic management, Great River Smart Logistics strictly complies with the Trade Union Law of the People's be established to ensure the efficient implementation and sustainable operation of the occupational health and safety production management system
Republic of China and other laws and regulations. Under the guidance of the Group's labor union organization, it regularly conducts collective through special meetings, interviews and notifications, letter reminders, designated supervision, and accountability processes.
consultation and democratic evaluation to ensure full protection of employees' legitimate rights and interests.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
The Company integrates risk control into daily operations through a lifecycle management system, responding to ESG (Environmental, Social, and
Governance) goals:
Management Specific
Detailed Description
Module Measures
Use HAZOP and LOPA analysis methods to systematically identify potential safety hazards in tank
Professional risk farms and loading/unloading areas; rely on JSA to break down processes and grade management risks
analysis for specialized operations such as repackaging of hazardous chemicals and equipment inspection/
Risk Identification and
maintenance.
Assessment
Chemical Strictly refer to Safety Data Sheets (SDS) to define exposure limits and emergency handling procedures for
information control various chemicals, achieving full transparency management of hazardous chemical safety information.
Promote automated operations and closed-system transformation, deploy intelligent level monitoring,
Intelligent closed-
automatic sprinkler, and gas leak detection equipment, and reduce direct personnel contact with
loop management
hazardous chemicals.
Engineering Control
Real-time
and Technical Build a comprehensive monitoring network, deploy combustible gas alarms and VOCs online monitoring
environmental
Monitoring equipment, and synchronize data to the central control room in real-time for immediate risk alerts.
monitoring
Explosion-proof and Implement storage tank grounding, select explosion-proof electrical equipment, configure anti-static
static protection tooling, and build a multi-layer explosion-proof and anti-static safety protection system.
Graded protection Provide differentiated personal protective equipment (PPE) from Level A to D based on job exposure risk
configuration levels, and precisely ensure operational safety.
Practical operation
Regularly conduct leak plugging and fire evacuation emergency drills; hazardous chemical operators must
Personnel Protection qualification
pass professional qualification assessments before starting work.
and Training management
Implement on-site safety inspections by the management, promptly correct unsafe behaviors and
On-site behavior
optimize training content, establish hazard reporting reward mechanisms to incentivize employees to
control
proactively identify and report hazards, and strengthen company-wide safety ownership awareness.
Graded emergency Establish three-tier emergency plans at company, regional, and group levels, and build joint response
response mechanisms for sudden incidents such as leaks and fires.
Emergency Response
and Sustainability
Integration Clean, low-carbon Adopt clean production technologies such as wastewater reuse and RTO exhaust gas treatment to reduce
and risk reduction pollutant emissions and lower environmental and occupational health risks at the source.
Closed-loop system Regularly review the effectiveness of the ISO45001 occupational health and safety management system
optimization based on the PDCA cycle management, and dynamically optimize the management processes.
Continuous
Improvement
Mechanism
Multi-party
Share safety data with customers and neighboring enterprises, deeply participate in developing industry
collaborative
safety standards, and strengthen collaborative risk prevention capabilities across the supply chain.
governance
w
Sustainable Development Opportunities
（1）Efficiency Driven by Technology Upgrade: Intelligent storage systems can simultaneously reduce safety risks and operational costs.
（2）Industry Benchmark Effect: High-standard management enhances customer trust and helps to secure high-value-added orders.
（3）Policy Compliance Advantage: Early adaptation to regulations such as the new Work Safety Law of the People's Republic of China and the
Special Rectification of Hazardous Chemical Safety helps avoid penalty risks.
Through the measures above, Great River Smart Logistics controls occupational health and safety risks at the ALARP (As Low As Reasonably
Practicable) level, while transforming risk management into a core driving force for enterprise resilience enhancement and sustainable
development.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Reviews of documents including the Emergency Response Plan for Environmental Incidents were carried out in multiple terminals
Terminals including Zhongshan GR Terminal, Fujian Gangfeng Energy, Changshu Great River, Dongguan Evergrowing Terminal, and Dongguan
Great River Petrochemical Terminal invited local government, port authority representatives, and experts to focus on reviewing the core content
of the Emergency Response Plan for Environmental Incidents, including the organizational system, emergency response procedures, and resource
assurance measures. The review served as an opportunity to further strengthen company-wide safety awareness, consolidate the foundation for
safety production, improve emergency management levels, prevent safety risks at terminals, and fostered a robust risk management culture.
Lishadao Base in Dongguan held the launch ceremony of the
Fujian Gangfeng Energy reviewed the emergency Zhongshan GR Terminal reviewed the emergency
response plan for safety production incidents response plan for environmental incidents
Great River Smart Logistics organized a special training session Zhongshan GR Terminal participated in a training session on ship-borne
during the Safety Production Month dangerous cargo loading/unloading operation safety knowledge
Dongguan Great River Petrochemical Terminal reviewed the Dongguan Evergrowing Terminal reviewed the special safety evaluation
emergency response plan for safety production incidents report on dangerous cargo port operations (adjusting cargo types)
Great River Smart Logistics' risk management publicity runs throughout the year and is strictly implemented. The risk management publicity focuses
on the core risk points associated with hazardous chemicals, covering special areas such as major hazard determination, equipment and facility
maintenance, key operation control, and emergency drills, highlighting the systematic nature and precision of technical management. Concurrently,
each terminal of Great River Smart Logistics carries out regular, multi-scenario emergency drills throughout the year. These drills cover key risk areas
such as hazardous chemical leaks, fires, flood control, confined space operations, and emergencies involving "passenger buses, tourist coaches and
dangerous goods vehicles". Company-wide hazard identification and skill enhancement are carried out on "Safety Production Month" and "Fire
Protection Awareness Month". By ingraining concepts such as "Eight No-Harm Principles" for guidance, Great River Smart Logistics internalizes
Changshu Base conducted a "119" fire emergency drill activity Nantong Power Shell Petrochemical held an environmental
risk management from system requirements into company-wide consciousness. High-frequency, multi-form practical drills effectively verify the
incident emergency drill in Nantong City
feasibility of emergency plans, putting the emergency management concept of "getting prepared through drills and preventing before accidents
occur" into practice. An all-weather, full-chain three-dimensional prevention and control network solidifies the foundation for the Company's safe
development.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Emergency Management Publicity, Training, and Drill
Great River Smart Logistics, Operation Centers, and subsidiaries widely publicize common knowledge on emergency response laws and regulations,
In order to conscientiously implement the safety policy of "putting safety first, prioritizing prevention, and implementing comprehensive prevention, risk avoidance, self-rescue, mutual aid, and disaster alleviation. They continuously strengthen training and learning on contingency
management," and in accordance with laws such as the Work Safety Law of the People's Republic of China (Order No. 88 of the President) and plans and knowledge for preventing natural disasters and emergencies, and improve employees' emergency awareness and response capabilities.
the Emergency Response Law of the People's Republic of China (Order No. 69 of the President), as well as regulations and rules including the Furthermore, special emphasis is placed on the training and practice of emergency response professionals by conducting skills competitions, and
Administration Measures for Contingency Plans for Emergencies (Guo Ban Fa [2013] No. 101), the Regulations on Emergency Response to Work employees with expertise, versatile skills and technical proficiency are encouraged.
Safety Accidents (Order No. 708 of the State Council), the Management Measures for Emergency Response Plans for Work Safety Accidents (Order
No. 2 of the Ministry of Emergency Management), and the Regulations on Reporting, Investigation, and Handling of Work Safety Accidents (Order Average Safety
No. 493 of the State Council), Great River Smarter Logistics has formulated the General Contingency Plan of Great River Smart Logistics Co., Ltd. Safety Education and Safety Education and Safety Education and Coverage Rate of Safety
or Emergencies to address possible emergencies and minimize accident damage, based on the Guidelines for Enterprises to Develop Emergency Education and Training
Training Sessions Training Participants Training Duration Education and Training
Response Plan for Work Place Accidents (GB/T 29639-2020) and the Administration Measures for Contingency Plans for Emergencies, among
Duration Per Person
other requirements, and considering the actual situation of the Group under the principles of being "people-oriented, compliant with laws and
regulations, practical, and result-oriented." The General Contingency Plan includes emergency response plans for work safety accidents, natural
disasters, public health incidents, and social security emergencies.
Emergency Organization System and Responsibilities In 2025, the Company's subordinate units carried out various forms of emergency skills training, competitions, and drills according to the emergency
training and drill plans, such as organizing emergency leak plugging, on-site hands-on practice of wearing bone conduction headphones, chemical
The emergency organization system of Great River Smart Logistics for emergencies consists of the Emergency Leadership Committee, the Office of protective clothing, and breathing apparatus, carrying the wounded on a stretcher over 50m, connecting 40m fire hoses and hitting the target,
the Emergency Leadership Committee, the Emergency Expert Group and the Operation Centers, as well as the Comprehensive Support Group, the practical firefighting skills competitions, skills competitions for putting on firefighting suits and connecting hoses, emergency evacuation drills,
On-site Emergency Handling Group, the Information and Communication Technology Support Group, the Investigation and Assessment Group, CPR, and anti-terrorism drills for preventing vehicle ramming attacks.
the Expert Group, and the Post-incident Handling Group formed with the participation of subsidiaries at all levels and various special emergency
command centers (temporary). Among these, the On-site Emergency Handling Group should, based on the actual situation, coordinate with the
safety and environmental protection management department of the subsidiary where the incident occurred to establish an Emergency Rescue
Group, Medical Rescue Group, Material Supply Group, Pollution Prevention and Control Group, Evacuation and Security Group, and Information
Liaison Group.
Emergency Leadership Committee
Emergency Leadership Committee
of Great River Smart
Responsible for making emergenc y decisions and plans,
(Safety Committee) O?ce of the Emergency commanding response, reporting for assistance, and carrying
Great River Smart Group Level
Committee (O?ce of the
Safety Committee) out post-incident reconstruction as the highest leadership for the Nantong Base conducted a safety knowledge competition during the Safety Month Taicang Power Shell Petrochemical conducted a safety knowledge competition
Special Emergency Command Center of Company's emergency response.
Great River Smart (Command-
Levels and Industry Competent Authorities
Emergency Command Leadership of Governments at All
er-in-Chief/Deputy Commander-in-Chief)
Office of Emergency Leadership Committee
Responsible for drafting and revising plans, submitting information,
liaising, guiding drills, and coordinating emergency response as the
Technology Support Group
Comprehensive Support
Post-incident Handling
Incident Investigation
Emergency Handling
Emergency Expert
routine administration body.
Communication
Group
Group
Group
Group
Group
Emergency Expert Group
Responsible for participating in research on major issues during
emergencies, and providing decision-making consultation and
technical support for situation assessment, emergency response, Emergency drill at a subordinate terminal Emergency drill at a subordinate terminal
rescue guidance, investigation, and evaluation.
Emergency Command
Organization of Subsidiary
Emergency Response Special Emergency Command Center
O?ce of Subsidiary
On-site Emergency
Special Emergency Command Center is established by the Emergency
Subsidiary Level
Command Center
Management Committee of the Group after an emergency occurs
to be responsible for coordinating on-site emergency command:
assessing the situation, formulating and implementing rescue plans,
Pollution Prevention
Information Liaison
Emergency Rescue
and Control Group
coordinating various forces for response, searching, rescuing and
Material Supply
Medical Rescue
Evacuation and
Security Group
Expert Group
XXXX Group
evacuating personnel, promptly submitting information and requesting
Group
Group
Group
Group
support; transferring command authority as stipulated, obeying unified
government command, and completing other tasks assigned by the
CPR safety training session at a subordinate terminal CPR safety training session at a subordinate terminal
Emergency Leadership Committee.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Occupational Health Protection Measures Safety Culture Construction
Subsidiaries of Great River Smart Logistics comprehensively implement occupational health protection for employees in strict accordance with In 2025, the Safety Committee Office of the Company organized subsidiaries to hold 14 internal training sessions, covering topics such as the
national laws, regulations and industry standards. interpretation of the Detailed Rules on Safety Risk Assessment for Vapor Storage and Transportation Enterprises (2025 Revised Edition), the 2025
Continuing Education Training for Safety Supervisors of Special Operations and Use of the Electronic Operation Permit System, the Report on
Safety Risk Investigation and Control Measures for Berthing/Unberthing in the Terminal of Yangtze River Section in Jiangsu, the Management
First, strengthen basic operational support, continuously optimize the working environment, and provide employees with Measures for Operational Accidents, the Safety Management Measures for Storage Tank Cleaning Operations, the Great River Smart Knowledge
compliant and healthy work spaces, supporting protection facilities, and specialized tools. When signing labor contracts, Exchange on Cargo Suitability Assessment for Storage and Transportation, the Special Training on Hazard Identification Knowledge for Safety
new hires are truthfully informed of potential occupational hazards, related health risk consequences, and specific protective Production, the Sharing of 24 Common Violations in Environmental Protection Management Enforcement, the Training on the Use of Hazard
measures associated with the post, in order to safeguard their right to know. Identification System, the Ideas and Methods on the Application of AI Tools in HSE Work, and the Company-wide Safety Awareness Enhancement.
Subsidiaries carry out three-level safety education and training for new hires and recurrent safety training for operational personnel according to
their respective training plans.
Second, standardize hazard declaration and publicity management, promptly and truthfully declare all types of occupational
hazards existing in the production process to the competent local authorities as required, and actively accept official supervision
while simultaneously disclosing relevant information to employees. Regularly conduct testing of occupational hazards at fixed
points in the workplace, set up public notices in the testing areas, and uniformly archive testing results in employee occupational
health records. For high-hazard positions, strictly set up prominent warning signs according to standards, and clearly mark the
type and health impact of the hazard, prevention points, and emergency treatment methods.
Chengdu Great Smart Warehousing conducted safety risk and acumen training Nanjing Great River conducted safety risk and acumen training
Third, strengthen emergency protection support. Fully deploy intelligent alarm devices in work areas prone to sudden acute
poisoning or harmful leaks, and formulate special emergency response plans. Provide adequate on-site first aid materials and
special emergency equipment, and map out emergency evacuation routes and specialized risk relief areas. Concurrently, store
protective equipment and first aid supplies in designated locations, which are managed by designated personnel and regularly
calibrated, maintained, and updated to ensure that they are always ready, safe, and effective.
Fourth, improve health record management, regularly organize employees to undergo compliant occupational health checkups, Nantong Great Smart conducted safety risk and acumen training Lishadao Base conducted the 2025 continuing education and training on
establish comprehensive occupational health files on a "one file for one person" basis, track employees’ occupational health special operations
status from beginning to end, and achieve dynamic and closed-loop management of occupational health.
Occupational Health and Safety Production Indicators and Targets
Centered on the annual key task of "identifying and rectifying hazards by strengthening self-inspection and self-detection, achieving environmental emission
compliance and waste-to-resource conversion as soon as possible, and promoting comprehensive and substantial improvement in safety and environmental
protection management levels," Great River Smart has set the following occupational health and safety production indicators and targets:
Safety Production Measures Safety Management Targets
No concealment or delayed reporting of work safety accidents; no serious injuries, occupational diseases, or fatalities;
Special operations (e.g., hot work, confined space entry, and work at heights) are high-risk operations prone to work safety accidents. The Company
achieves an upgrade and transformation of traditional safety management models through digital means. It has independently built a safety no major accident hazards leading to penalties or production suspension orders by government authorities.
management system, of which the electronic permit module for special operations and the hazard investigation and management module have Resource Investment and System Assurance Targets
been put into use. In 2025, 100% of the permits for special operations in Great River Smart were electronic. Subsidiaries across the Company issued
a total of 10,451 electronic operation permits throughout the year, which significantly improved the production safety level of the Company's 100% coverage rates of both work-related injury insurance and safety production liability insurance; 100% coverage rate
special operations. of employee health checkup; 14 entities obtaining ISO45001 certification.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Partnership Cooperation and
Industry Advancement
Responsible Supply Chain 97
Industry Advancement 99
Social Contribution and Rural Revitalization 103
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Responsible Supply Chain Supply Chain Risk Management
The Company has established a full-chain, regular, closed-loop supply chain risk management system. Under the coordination of the Strategy
Supply Chain Management System and Strategy and Sustainable Development Committee, it conducts systematic risk identification, assessment, and prevention for key aspects such as supplier
access, contract fulfillment, delivery, quality, safety, environmental protection, and business ethics. It strictly implements supplier due diligence
and dynamic risk monitoring, regularly conducts special inspections on environmental compliance, safety production, occupational health, and
Supply Chain System Development anti-commercial bribery, and strengthens focused management and emergency response for high-risk suppliers. It improves the early warning
and emergency support mechanisms against supply chain interruption, enhances supply chain resilience and risk resistance, and resolutely
Under the overall coordination and guidance of the Strategy and Sustainable Development Committee, the Company's supply chain
prevents compliance risk, safety risk, environmental risk, and reputational risk. Through system constraints, process supervision, performance
system continuously improves the sustainable development governance structure of the supply chain. The Procurement Department leads
accountability, and continuous improvement, it ensures the entire supply chain is compliant, transparent, safe and stable, with controllable risk,
the coordination, and the HSE, Risk Control, Legal, Operations, and Finance Departments, as well as various business units participate in
building a robust safety defense line of supply chain for the Company's stable operations and sustainable development.
collaboration to form a cross-departmental, full-process, closed-loop supply chain sustainable development management mechanism.
Focusing on core topics such as development of responsible supply chain, environmental compliance, social responsibility, business ethics,
Supply Chain ESG Management
and responsible mineral due diligence management, it systematically advances system implementation, hazard screening, performance
evaluation, and continuous improvement to ensure the entire supply chain is compliant, transparent, robust, and controllable.
The Company continuously optimizes its system framework, including the Management Regulations on Procurement Suppliers. It embeds
the requirements for environmental performance, occupational health and safety, human rights protection, anti-fraud and anti-corruption, The Company fully embeds the ESG concept into the lifecycle management of the supply chain. Under the guidance of the Strategy and Sustainable
low carbon and emission reduction into the entire lifecycle of supplier access, contract fulfillment, assessment, and exit, thereby promoting Development Committee, it has built a supply chain ESG management system covering the environment, society, and governance dimensions. It
unified standards, standardized management, and effective implementation for supply chain sustainable development. continuously improves supplier ESG access standards and grading evaluation mechanisms, incorporating core requirements such as low-carbon and
emission reduction, pollution prevention and treatment, safety production, occupational health, human rights protection, anti-corruption, and fair
business ethics into the entire process of audit, contract fulfillment, assessment, and exit. It regularly conducts supply chain ESG risk assessments,
due diligence, and on-site verification, strengthens the management of high-risk areas, and implements responsible mineral and conflict mineral
Supply Chain Strategy due diligence. Through standard output, special training, technology empowerment, performance supervision, and collaborative improvement,
it drives upstream and downstream partners to improve ESG management levels together, promotes the green transformation and compliance
The Company adheres to the value positioning of "building a safe, green, agile, efficient, and value co-creating modern chemical storage and logistics
upgrading of the supply chain, and builds a safe, resilient, green, transparent, and responsible sustainable supply chain ecosystem.
supply chain ecosystem." It set the 2025 supply chain strategic goal of "creating a supply chain system featuring compliance guarantee, reliable quality,
optimal cost, low-carbon leadership, and enhanced resilience, and making it the core value driver of the Company's high-quality development."
Focusing on the four strategic directions of safety and resilience, green and low-carbon development, digital and intelligence, and collaboration for
win-win, it continuously strengthens end-to-end supply chain control capabilities and core competitiveness. Supply Chain Integrity Construction
Adhering to long-term commitment and the concept of win-win partnership, the Company continuously improves the sustainable development levels
and comprehensive service capabilities of suppliers through standard output, capability empowerment, technical collaboration, and resource sharing. The Company treats integrity and compliance as the bottom-line requirement for supply chain management, continuously deepens the construction
It promotes green transformation, compliance upgrading, and efficiency improvement up and down the supply chain, creating long-term value for its of a supply chain integrity system, and fully builds a barrier against integrity risks. It strictly implements the integrity and transparent procurement
stable operations, industrial chain security, and social sustainable development. system, embeds integrity management requirements into the entire process of supplier access, bidding and inquiry, contract signing, contract
fulfillment and delivery, acceptance and payment. It signs integrity practice agreements and anti-commercial bribery clauses with 100% of its
suppliers, which clarify integrity responsibilities and breach penalty mechanisms. It has established a joint supervision mechanism covering
Supply Chain Management Measures procurement, operations, audit, and legal affairs to ensure unimpeded multi-channel reporting mechanisms and strengthens the supervision,
investigation, and accountability for commercial bribery, benefit transfer, and unfair competition. It regularly conducts supply chain integrity
warning education, compliance training, and cultural promotion, so as to ingrain the concept of integrity throughout the supply chain. It builds an
The Company systematically promotes the implementation of supply chain sustainable development based on the principles of full-process control,
open and transparent, fair and just, honest and law-abiding, and win-win integrity supply chain cooperation ecosystem, and effectively safeguards
full-dimension empowerment, and full-chain compliance. It has established supplier access and grading management mechanisms, incorporating
the legitimate rights and interests of the Company and its stakeholders.
indicators such as environmental compliance, safety production, occupational health, business ethics, low-carbon and emission reduction into
access audits and annual assessments to drive suppliers to continuously improve their sustainability performance. The Company strengthens supply
chain management and conducts supply chain risk assessments and due diligence to ensure supply chain transparency and traceability. It improves
the green procurement and integrity procurement system, and prioritizes energy-saving, environmentally friendly, and low-carbon products and Conflict Minerals Statement
services. It fully implements the signing of integrity agreements as a means to solidify the compliance bottom line. Training empowerment, standard
output, technical collaboration, and performance supervision are utilized to help suppliers improve risk management capabilities and green The Company strictly complies with relevant laws, regulations, and ESG-related guidelines, resolutely prohibits the use of conflict minerals. As of
operation levels and build a safe, stable, green, efficient, and win-win supply chain ecosystem, thereby providing solid support for the Company's the reporting period, the Company's main business and production operation activities do not involve the procurement, use, or processing of any
sustainable development. conflict minerals, effectively fulfilling its corporate social responsibility.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Industry Advancement
Supplier Training Deeply Participate in Local Industrial Symposia: Wang Jian,
Chairman of the Nantong Base, has been invited several times
The Company incorporates supplier capability enhancement and ESG compliance building into its regular empowerment system. Focusing on core to participate in government-enterprise exchange activities
content such as safety and environmental protection, compliant operations, integrity and honesty, green and low-carbon practices, and quality
such as the Entrepreneur Symposium in the Rugao Port
control, it conducts tiered and classified supplier training that combines online and offline methods. Through policy interpretation, standard
Chemical New Material Industrial Park, where he actively offered
promotion and implementation, case studies, on-site coaching, and online courses, the Company communicates its sustainable development
suggestions and advice on policy implementation, industrial
requirements, supply chain management standards, safety production bottom lines, integrity practice guidelines, and environmental emission
transformation, and corporate needs, promoting efficient
reduction highlights to suppliers, helping them strengthen risk awareness, improve management levels, and address capability gaps. The
government-enterprise coordination.
Company continuously improves the training closed-loop mechanism, maintains training records, assessment and effect tracking, promotes the
transformation of training results into overall supply chain compliance capability and sustainability performance improvement, and works with
Nantong Base attended the Entrepreneur Symposium in the
suppliers to build long-term cooperation relationships characterized by professionalism and compliance, safety and high efficiency, green and Rugao Port Chemical New Material Industrial Park
transparency, and collaborative advancement.
Lead Industry Development
Organize and Host Industry Exchange Activities:The Company actively builds platforms for industry exchange. For example, an event
of the Enterprise Safety Alliance of Nantong Port for Major Hazard Sources was held at Nantong Power Shell Petrochemical to promote
As a leading enterprise in the domestic private chemical storage industry, Great River Smart Logistics consistently adheres to a customer-centric
the sharing of safety management experience among enterprises. Nanjing Great River hosted representatives attending the 2025 Seminar
approach, actively engages in industry standard development, technological innovation exchange, safety management, and talent cultivation, and
on Liquid Hazardous Chemical Storage Safety Technology Development, where it showcased its achievements in digital management,
continuously drives the industry towards intelligence, green practices, and efficiency. Through multi-level, multi-form industry participation, the safety monitoring, and green operations. Nantong Base received Lianyungang Port International Petrochemical Storage Co., Ltd., and the
Company constantly improves its comprehensive strength to facilitate the high-quality development of the chemical logistics industry. two sides discussed new paths for intelligent and green development in the petrochemical storage industry.
Deeply Participate in Industry Exchanges and Promote Collaborative Development of the Industry
Great River Smart Logistics places high importance on exchanges and cooperation with government departments, industry associations,
research institutions, and industry chain partners, as reflected in its active participation in various forums, seminars, and government-
enterprise discussions to continuously share industry insights and corporate experience.
Participation of Senior Management in Industry Forums: Chairman Lin Haichuan has been invited to attend several major industry
events. For example, he participated in the roundtable discussion at the 10th CEIBS Innovation Forum · Dongguan Station, where he shared
Great River's practical experience in applying AI in such areas as equipment safety monitoring and employee behavior analysis around the
theme "AI Breakthrough, Reshaping Enterprise Growth." As the Talent Introduction Ambassador of Guangdong, he attended the "Gathering
of Million Talents in Southern Guangdong" event in Hangzhou to promote the Company's development and digital transformation
Representatives attending the 2025 Seminar on Liquid Hazardous Nantong Power Shell Petrochemical hosted an event of the Enterprise Safety
opportunities to talents from the Yangtze River Delta region. He also lectured to students of the Shenzhen Entrepreneur Training Program
Chemical Storage Safety Technology Development visited for exchange Alliance of Nantong Port for Major Hazard Sources
"Shining Stars Over Pengcheng," systematically sharing Great River Smart' strategic path and practical experience in upgrading the
industrial chain through mergers and acquisitions.
Chairman Lin Haichuan attended the roundtable Chairman Lin Haichuan lectured to students of Chairman Lin Haichuan attended the "Gathering
discussion at the 10th CEIBS Innovation Forum · the Shenzhen Entrepreneur Training Program of Million Talents in Southern Guangdong" event Lianyungang Port International Petrochemical Storage Co., Ltd.
Dongguan Station "Shining Stars Over Pengcheng" in Hangzhou visited for exchange
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Focus on Safety and Technological Innovation and Lead Industry Standard Development Promote the Construction of Industrial Workforce and Build a High Ground for Skilled Talent
Great River Smart Logistics consistently treats safety production and technological innovation as the cornerstones of its development, and actively Great River Smart adheres to a talent-driven development strategy, actively promotes the reform of the industrial workforce construction, improves
participates in the formulation of industry safety standards, technical seminars, and emergency management system development. employees' skills and well-being, and provides solid talent support for the industry's sustainable development.
Safety Standards and Lightning Protection Management: The Company
places high importance on lightning protection safety for hazardous
chemical enterprises. In collaboration with the Lightning Protection and
Mitigation Management Center of Guangdong Province and an expert
group, an exchange activity on lightning protection safety of hazardous
chemicals was conducted at Zhongshan GR Terminal to delve into topics
Government Recognition for Industrial Workforce Reform Case:
such as the national standard Determination for Major Hidden Dangers
in Lightning Protection Safety of Hazardous Chemical Enterprises, and The case Multiple Measures to Deepen Industrial Workforce Reform and Enhance Employees'
promote the standardization and normalization of lightning protection Skills and Well-being from Nantong Power Shell Petrochemical was successfully selected as a
safety management in the industry. Zhongshan GR Terminal conducted an exchange activity on typical case for the 2024 industrial workforce construction reform in Rugao City, serving as an
lightning protection safety of hazardous chemicals
important reference for the city's industrial workforce construction reform.
Typical case for the 2024 industrial workforce
Safety Management of Old Vessels:Fujian Gangfeng Energy organized construction reform in Rugao City
and held the "Seminar on High-Quality Vessel Selection and Berthing
Safety for Old Liquid Cargo Vessels". The seminar clarified three core
measures of vessel access standards, safety self-inspections, and
emergency coordination, which promoted the upgrading of port operation
safety management and provided a reproducible and scalable safety University-Enterprise Cooperation and Lifelong Learning：
management model for the industry.
Fujian Gangfeng Energy organized a seminar on high-quality ship The Company actively participates in university-enterprise co-
selection and berthing safety for aging liquid cargo vessels construction and talent development activities. General Advisor Lin
Nantong visited the City University of Hong Kong (Dongguan) to give
a lecture on the Entrepreneurial Path and Insights - Establishing a
Habit of Lifelong Learning, in which he shared his entrepreneurial and
Intelligent System Development：Great River Smart launched the Management of Customer Relationship (MCR) System project to learning experiences spanning six decades and inspired young students
promote the standardization and refinement of customer management. Nantong Great Smart Terminal deeply applies the "Smart Port to establish a mindset of lifelong learning. The Company continuously
Management System," "SAP Tank Farm Automation System," and "Anti-static Intelligent Early Warning System" to achieve efficient and safe promotes employee skill improvement and job growth, and creates a
storage operations, serving as a demonstration for the industry's digital and intelligent transformation. positive atmosphere that advocates skills and respects talent.
Chairman Lin Haichuan and Director Lin Nantong attended the
themed lecture in the City University of Hong Kong (Dongguan)
Great River Smart will always uphold the "customer-centric" core value in continuously deepening multi-party cooperation
with governments, industries, universities, and research institutions, play a leading role in standard formulation,
technological innovation, safety management, and talent cultivation, and make greater contributions to promoting the high-
quality development of the chemical storage industry, ensuring the safety and stability of the industrial and supply chains,
and serving regional economic transformation and upgrading.
Great River Smart launched the MCR system project Nantong Great Smart Terminal successfully completed unloading
of a 7,000-ton diesel vesse
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Supply Chain Collaborative Development Community Co-building and Caring for Social Groups: Building Harmonious Neighborhoods and Paying Tribute to Frontline Workers
The Company always values its close connection with surrounding communities, with a commitment to building harmonious neighborly relations.
Based on the characteristics of the chemical storage and logistics industry and its vision for global development, the Company adheres to the cooperation Around terminals and docks, the Company constantly issues safety and environmental risk notifications, sets up emergency drill open days, and
concept of putting safety first and quality foremost, and seeking win-win collaboration. It held the 2025 Annual Supplier Conference of Great River Smart organizes community visits, with the aim of enhancing the scientific understanding and trust among the public in the hazardous chemical storage
industry. In 2025, the Company and its various terminal areas conducted a total of 59 community communication and co-construction activities.
Logistics under the theme "Sincere Collaboration for Jointly Exploring a New Chapter of Development." The conference focused on key issues such
In terms of caring for social groups, relying on the "GR Spark Volunteer Service Team," the Company launched a series of volunteer services such as
as safety compliance of supply chain, green operations, digital collaboration, and risk prevention and control, while building a platform for in-depth
"Coolness Delivery in Summer," "Mosquito Prevention and Control Publicity," and "Blood Donation Drives" to primarily benefit frontline workers
communication, experience sharing, and resource alignment between supply and demand sides. The Company communicates sustainable development and grassroots groups such as sanitation workers and community elders. These initiatives transmitted warmth and care through practical actions. In
standards, empowerment and enhancement plans, and collaborative improvement initiatives to all partners, and strengthens strategic mutual trust, 2025, the Company and its terminal areas conducted 23 charitable activities, with over 200 volunteer participants.
capability co-building, and responsibility sharing along the upstream and downstream of the supply chain. It continuously promotes simultaneous
upgrade, concerted efforts and joint advancement with suppliers, and builds a high-quality supply chain ecosystem characterized by safety and stability,
green and efficiency, transparency and compliance, and long-term win-win cooperation with suppliers.
Equal Treatment of SMEs
The Company consistently adheres to the cooperation principles of fairness, openness, transparency, and non-discrimination. In the entire process of supplier
access, bidding and procurement, contract performance, payment, and assessment, it treats all types of cooperation entities equally and fully safeguards the
legitimate rights and interests of SMEs. The Company continuously optimizes its procurement mechanism, simplifies the cooperation processes for SMEs, lowers
cooperation barriers, and actively creates fair market participation opportunities for SMEs. It resolutely eliminates differential treatment, unreasonable barriers, Nantong Base conducted the blood Taicang Power Shell Petrochemical conducted Changzhou Great River conducted the blood
donation drive the blood donation drive donation drive
or discriminatory restrictions. It treats all parties equally in business cooperation, information communication, empowerment support, and payment guarantee,
promotes the collaborative development and mutual benefit of large, medium and small enterprises, and takes practical actions to maintain a healthy and
orderly supply chain ecosystem and promote fair competition and high-quality development in the industry.
Social Contribution and Rural Revitalization
Social Contribution Lishadao Base in Dongguan conducted Nanjing Great River conducts the event of Zhongshan GR Terminal conducted
the "Accessible Travel with Love" initiative "Transmitting Love to Left-behind Children" a safety drill
Great River Smart consistently upholds the corporate mission of "creating comprehensive value for society." Using the "Haoshan Charity Fund"
and "GR Charity Day" as vehicles, it is continuously committed to charitable causes. In 2025, relying on the "Haoshan Charity Fund" platform, the
Company carried out a series of targeted donations and volunteer services in areas such as educational support, community co-construction, and
environmental protection, fulfilling its corporate social responsibility through practical actions.
Charity Brand Event: Gathering the Power of Love and Spreading Kindness
In June 2025, the Company successfully held the 7th "GR Charity Gala". The Rizhao Great River's public environmental Changshu Base's public environmental
protection activity protection activity
event invited charity partners and employee representatives to conduct
discussion and co-creation around topics such as green and low-carbon
practices, community co-construction, and corporate social responsibility, Rural Revitalization
which continuously deepened the understanding and recognition of
sustainable development across all sectors of society. At the gala, Chairman
The Company deeply recognizes the importance of the rural revitalization strategy for the national development endeavor. It actively responds to the
Lin Haichuan shared Great River's original charity aspiration and called for
national action call that "ten thousand enterprises revitalize ten thousand villages". Considering its own business layout characteristics, it focuses on
more people to pay attention to and participate in charity. participating in rural construction through means such as employment assistance, with priority given to the recruitment of people lifted out of poverty
Chairman's Address at the 7th "GR Charity Gala"
and returning migrant workers for local employment. Meanwhile, it provides vocational skills training and pre-job practical training, promotes the organic
integration of rural revitalization work with the Company's business development, and contributes to comprehensive and sustainable rural revitalization.
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Appendix Environmental Performance
Indicator Name Indicator Unit 2025
Quantitative Performance Indicators
Subsidiaries with Green Port Certification (3-star) Times 3
Governance Performance Subsidiaries with ISO14001 Certification Sites (Base/Terminal) 14
Indicator Name Indicator Unit 2025 Subsidiaries with Clean Production Certification Times 5
Environmental Emergency Drills Times 53
Board Meetings Held Times 18
Board Proposals Reviewed Items 77 Amount of Environmental Administrative Penalties CNY10,000 0
Board Director Attendance Rate % 100
Environmental protection Publicity and Training Sessions Times 26
General Meetings of Shareholders (Regular and Extraordinary) Times 13
Audit Committee Meetings Held Times 13 Environmental protection Publicity and Training Participants People 857
Remuneration Committee Meetings Held Times 6
Amount of Administrative Penalties for Pollutant Discharge CNY10,000 0
Nomination Committee Meetings Held Times 3
Total Industrial Wastewater m3 69,005
Board Members People 9
Independent Directors People 4 Total Domestic Wastewater m3 23,810
Proportion of Independent Directors % 44
Total Wastewater Discharge t 92,815
Independent Director Allowance CNY10,000/year 12
Proportion of Independent Directors in Audit Committee % 67 Chemical Oxygen Demand (COD) Emissions t 7
Proportion of Independent Directors in the Nomination Committee % 67
Biochemical Oxygen Demand (BOD) Emissions t 1
Proportion of Independent Directors in the Remuneration and Evaluation Committee % 67
Ammonia Nitrogen (NH3-N) Emissions t 0
Proportion of Female Board Directors % 0
Proportion of Female Executives % 0 Total Nitrogen (TN) Emissions t 1
Investor Questions Answered on Exchange Platform Times 54
Total Phosphorus (TP) Emissions t 0
Announcements Released Items 177
Commercial Bribery and Corruption Incidents Times 0 Nitrogen Oxides (NOx) Emissions t 1
Anti-Commercial Bribery and Anti-Corruption Training Sessions Times 6
Sulfur Oxides (SOx) Emissions t 0
Total Number of Directors Covered by Anti-Commercial Bribery and Anti-
People 7
Corruption Training Sessions
Volatile Organic Compounds (VOC) Emissions t 402
Percentage of Directors Covered by Anti-Commercial Bribery and Anti-Corruption
% 100
Training Sessions Particulate Matter (PM) Emissions t 0
Total Number of Management Personnel Covered by Anti-Commercial Bribery and
People 71
Anti-Corruption Training Sessions Total Waste Generated t 224
Percentage of Management Personnel Covered by Anti-Commercial Bribery and
% 25 Total Amount of Non-Hazardous Waste Generated t 12
Anti-Corruption Training Sessions
Total Number of Employees Covered by Anti-Commercial Bribery and Anti-
People 141 Total Generation of Hazardous Waste t 224
Corruption Training Sessions
Percentage of Employees Covered by Anti-Commercial Bribery and Anti-
% 8 Total Water Intake t 537,618
Corruption Training Sessions
Amount Involved in Lawsuits or Major Administrative Penalties Due to Unfair Total Water Consumption t 456,922
CNY10,000 0
Competition by the Company
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Indicator Name Indicator Unit 2025 Indicator Name Indicator Unit 2025
Total Water Recycling and Reuse t 20,979 CCER Registered Projects Items 0
Water Recycling and Reuse Rate % 4 Registered Projects under Other Mitigation Mechanisms Items 1
Wastewater Treated and Discharged by Treatment Plant t 80,696 Estimated Total Emission Reduction by Other Mitigation Mechanisms tCO2e 830
Total Comprehensive Energy Consumption tce 5,279,608 Traded Emission Reductions from Other Mitigation Mechanisms tCO2e 830
Direct Energy Consumption tce 4,272,880
Electricity Saved through Green Office tce 18,435
Indirect Energy Consumption tce 3,935
Paper Weight Saved through Green Office t 120
Coal Consumption tce 0
Water Saved through Green Office t 7,705
Gasoline Consumption tce 24,562
Diesel Consumption tce 97,443
Liquefied Petroleum Gas (LPG) Consumption tce 0 Social Performance
Electricity Consumption tce 4,272,880
Indicator Name Indicator Unit 2025
Steam Consumption tce 3,935
Customer Complaints Times 52
Total Clean Energy Consumption tce 880,789
Customer Satisfaction (Terminal Tank Storage) % 99
Proportion of Clean Energy in Total Energy Consumption % 17
Natural Gas Consumption tce 790,401 Customer Satisfaction (Chemical Warehouse) % 99
Wind Energy Consumption tce 0 Amount Involved in Data Security Incidents and Customer Privacy
CNY10,000 0
Breach Incidents during Reporting Period
Solar Energy Consumption tce 90,388
Recognition as Specialized and Sophisticated SME Times 2
Hydro Energy Consumption tce 0
Total Number of Employee People 1,747
Soil Testing Frequency Times 4
North China Employees People 130
Total GHG Emissions tCO2e 23,087
East China Employees People 1,076
Scope 1 GHG Emissions tCO2e 2,209
South China Employees People 521
Direct (Scope 1) GHG Emissions per Million CNY Revenue tCO2e/Million CNY 1.86
Southwest China Employees People 20
Scope 2 GHG Emissions tCO2e 20,878
Child labor found People 0
Indirect (Scope 2) GHG Emissions per Million CNY Revenue tCO2e/Million CNY 17.54
Forced labor found People 0
Total GHG Emissions Directly Reduced by Mitigation Measures tCO2e 1,594
Scope 1 GHG Emissions Directly Reduced by Mitigation Measures tCO2e 570 Employees Covered by Collective Bargaining People 1,747
Scope 2 GHG Emissions Directly Reduced by Mitigation Measures tCO2e 1,023 Male Employees People 1,412
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Indicator Name Indicator Unit 2025 Indicator Name Indicator Unit 2025
Female employees People 335 Safety Education Sessions Times 611
Employees under 30 People 242 Safety Training Participants People 31,512
Employees aged 30 to 50 People 1,117 Average Safety Education Training per Employee Hours 30.74
Employees over 50 years old People 388 Safety Education Training Coverage Rate % 100
Employees with College Diploma or Below People 1,251 Employee Physical Examination Coverage Rate % 100
Employees with Bachelor's Degree People 449 Entities with ISO45001 Certification Times 14
Employees with Master's Degree People 44 Number of Occupational Disease Cases People 0
Employees with Doctoral Degree People 3 Work-related Fatalities Among Employees People 0
Senior Management People 113 Working Days Lost due to Work-related Injuries Days 574
Middle Management People 167 Working Days Lost due to Work-related Injuries Per Million CNY
Day/Million CNY 0.48
Revenue
Frontline Employees People 1,466
Major Safety Accidents Times 0
Ethnic Minority Employees People 39
Fire Drill Participants Times 3,195
New Hires People 143
Hidden Danger Inspection Times 1,430
Employee Turnover Rate % 6.28
Hidden Dangers Identified Items 7,442
Number of Employee Turnover People 117
Hazard Due Rectification Rate % 98
Labor Contract Signing Rate % 100
Total Suppliers Suppliers 245
Proportion of Employees Paying Social Insurance % 100
Suppliers Terminated for Non-compliance Suppliers 8
Total Number of Employees Taking Parental Leave during the Year People 33
Potential Suppliers Rejected for Non-compliance Suppliers 52
Total Number of Employees Returning to Work after Parental Leave
People 32
during Reporting Period Suppliers Signing Integrity Clauses % 100%
Employee Training Expenditure CNY 10000 212 Needy Employees Assisted per Million CNY Revenue Persons/Million CNY 0.01
Employee Training Coverage % 100 Volunteer Activity Duration Hours 14,402
Total Employee Training Sessions Times 874 Average Volunteer Service Hours per Person Hours 114.30
Average Training Hours per Employee Hours 26 Total Charitable and Public Welfare Investment CNY10,000 450
Employee Satisfaction % 96 Number of Employee Volunteer Team Members People 126
Annual Sustainability Report
Great River Smart Logistics Co., Ltd.
Indicator Index Feedback Form
We appreciate your time in reviewing the 2025 Annual Sustainability Report of Great River Smart Logistics. To continuously improve our
Dimension No. Topic Corresponding Chapter sustainability reporting and management, we are keen to hear your comments and suggestions. We kindly invite you to complete the following
Clause
feedback form and return it to us via any of the following channels:
Email: grsl@grgroup.cc
Phone: 0769-88002930
Industrial Development Zone, Dongguan City
Ecosystem Ecosystem
and Biodiversity Conservation and Biodiversity Conservation
Environmental
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Questionnaire
How would you rate the extent to which this report reflects Great River Smart Logistics' significant impact on the economy, society, and
environment：
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How would you rate the response and disclosure in this report regarding issues of concern to stakeholders：
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Social
□ Excellent □ Good □ Fair □ Poor □ Ver y poor
How would you rate the readability of this report：
Data Security and Customer Privacy Data Security and Privacy What is your overall evaluation of this report：
protection protection
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Employee Recruitment and
Talent Development
Open-Ended Questions:
What suggestions do you have for the ESG work of Great River Smart Logistics?
Sustainable
What valuable ESG information do you think this report provides?
Development
Anti-Commercial Bribery and Anti-
Governance 20 Article 55 Business Ethics
Corruption
What additional ESG information do you think should be disclosed in future reports?
Anti-Unfair Competition and
Anti-Monopoly
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